JACKSONVILLE, FLA. — CBRE has secured a $27.4 million acquisition loan for The Waterford at Mandarin Apartments, a 232-unit apartment property at 11247 San Jose Blvd. in Jacksonville’s Mandarin submarket. The property, built in 1990, features one- to three-bedroom units averaging 1,065 square feet. The community’s amenity package includes two swimming pools, racquetball and tennis courts, a laundry center, playground, fitness center, dog park and sand volleyball court. Christian Lee, Christopher Apone and Charles Foschini of CBRE’s Debt & Structured Finance group arranged the seven-year Freddie Mac loan on behalf of Norfolk, Va.-based Harbor Group International with two years of interest-only payments.
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WEST MONROE, LA. — Lexerd Capital Management LLC has purchased Glenwood Townhomes, a 120-unit apartment complex in West Monroe, for an undisclosed amount. Lexerd will rebrand the property as Shadow Glen. First Choice Management Group will manage the property, which Lexerd purchased through its Lexerd Capital Partners High Yield Fund.
CHARLOTTE, N.C. — Lincoln Harris has arranged a 10,207-square-foot lease at Piedmont Town Center, an upscale mixed-use complex at 4725 Piedmont Row Drive in Charlotte’s SouthPark submarket. Piedmont Town Center includes two office buildings totaling 420,000 square feet, 87,500 square feet of retail space and 180 luxury apartment units. Campbell Walker of Lincoln Harris represented the landlord, Piedmont Row Drive LLC, in the transaction. Brent Royall and Brad Grow of Colliers International represented the tenant, Southeast Series of Lockton Cos. LLC.
WESTWOOD AND RIVER VALE, N.J. — HFF has brokered the sale of a four-property multifamily portfolio totaling 276 units in Westwood and River Vale. Kushner Companies purchased the portfolio from Hartz Mountain Industries for $56.5 million. The fully stabilized portfolio includes one- and two-bedroom units averaging 798 square feet. The portfolio consists of the 103-unit Coventry Square at 20-46 Charles St. in Westwood; the 71-unit Stanford Place at 500 Center Ave. in Westwood; the 56-unit The Madison at 99 Madison Ave. in Westwood; and the 46-unit Village on the Green at 229 Collignon Way in River Vale. Jose Cruz, Andrew Scandalios, Kevin O’Hearn, Jeffrey Julien and Michael Oliver of HFF represented the seller in the transaction.
NEW YORK CITY — New York City-based Savanna in partnership with another New York-based company has acquired the controlling interest in One Court Square, a 1.5 million-square-foot Class A office and retail building in Long Island City. Designed by Skidmore, Owings & Merrill LLP, One Court Square is comprised of a 51-story Class A high-rise tower and a four-story low-rise annex building. The tower features 31,000-square-foot floor plates and views of the Manhattan skyline. Turner Construction built the property in 1989. David Werner and his investor group, which sold the controlling interest, will also remain a partner in the deal.
MADISON, N.J. — CBRE Group has brokered the sale of 2 Giralda Farms, a 146,366-square-foot office building in Madison. Maersk Inc. sold the property for $53.3 million to American Realty Capital Global Trust Inc. The property was originally designed as a build-to-suit for the North American headquarters of Maersk. Jeffrey Dunne, Kevin Welsh, Brian Schulz, Frank Maresca and Alec Monaghan of CBRE represented the seller, Maersk, in the transaction. Maersk has relocated its North American headquarters nearby to 180 Park Avenue in Florham Park. An undisclosed tenant had signed a long-term lease at 2 Giralda Farms before the sale took place.
NEW YORK CITY — Houlihan-Parnes Realtors has brokered the sale of a mixed-use property located at 4062-4072 White Plains Road (also known as 690 East 229th St.) in the Wakefield neighborhood of the Bronx. Situated on an irregular 9,000-square-foot lot, the property features a three-story building with two retail stores and two apartments, and a one-story building with three retail stores and a used car sales lot. A Long Island-based management and holding company purchased the property for $1.4 million. Jerry Houlihan and James Coleman of Houlihan-Parnes Realtors arranged the transaction.
NEW YORK CITY — Marcus & Millichap has arranged the sale of 313 99th Street, a six-unit apartment building in Brooklyn. A private investor acquired the property for $1.2 million, a 4.33 percent cap rate. Mark Zarrella and John Brennan of Marcus & Millichap represented the seller, a private investor, and the buyer in the transaction.
ST. LOUIS — The Metropolitan St. Louis Sewer District (MSD) has purchased a 60,000-square-foot manufacturing building in St. Louis for an undisclosed price. The property was purchased for MSD Project Clear, MSD’s long-term initiative designed to improve water quality and alleviate wastewater concerns. The facility is located at 1600 Macklind Ave. on three acres. Part of the 60-year-old building situated near River Des Peres will be torn down to create access for MSD Project Clear, the project involves creating underground tunnels to store rain runoff during heavy storms, and then conveying it to wastewater treatment plants for treatment when storms pass. Hal Ball of Hilliker Corp. represented the seller, DFD Industries LLC in the transaction. MSD had internal representation in the transaction.
CANTON, OHIO — Marcus & Millichap has brokered the $2.7 million sale of a newly constructed Mattress Firm in Canton. The 5,000-square-foot, net-leased property was sold at a 6.5 percent capitalization rate. Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap represented the seller, a limited liability company, and the buyer, a private investor.