ROSEVILLE, MICH. — L. Mason Capitani has arranged the sale of two industrial buildings totaling 35,000 square feet in Roseville, five miles east of Warren. Special Tool & Engineering purchased two industrial facilities located at 15585 Sturgeon St. and 29800 Calahan Road from an undisclosed seller. The buildings are located approximately three miles from Special Tool & Engineering’s current operations headquartered in Fraser. The company offers engineering, design and complete tool manufacturing for the automotive industry and for household appliances, office equipment, electronics, and the packaging industry. Jason Capitani and Joe DePonio represented Special Tool & Engineering in the transactions.
BOSTON — HFF has arranged $24.6 million in refinancing for 250 Summer Street in Boston’s Seaport district. Originally built in 1903, the eight-story, 104,709-square-foot office building is 100 percent leased to a variety of tenants, including Morrison Mahoney LLP. HFF secured the long-term, fixed-rate loan through Eastern Bank for the borrower, a partnership between Synergy Investments and Independencia Asset Management. Greg LaBine of HFF led the team that represented the borrower.
WATERBURY, CONN. — WinnDevelopment, the development arm of WinnCompanies, in partnership with Boston Financial Investment Management (BFIM) has acquired Watertown Crossing in Waterbury. Located near Route 8 and Interstate 84, the 108-unit affordable housing community comprises 18 residential townhome buildings with a mix of one-, two-, three- and four-bedroom townhome-style units. Following the acquisition from Tinman Realty, the community will undergo renovations that include in-unit upgrades to kitchens and baths; repaired siding; new windows, doors and roofing; as well as energy-efficient upgrades to the property’s HVAC systems. In addition to unit upgrades, Winn will complete site improvements, including the construction of a new 2,500-square-foot community clubhouse with a community kitchen, laundry facilities, fitness center and management office. WinnResidential, the property management arm of WinnCompanies, has managed the property since 2001 and the community continues to maintain nearly 100 percent occupancy. The project is receiving equity financing from BFIM and construction-to-permanent financing from the Connecticut Housing Finance Agency. Winn plans to begin construction immediately with completion slated for summer 2015. The Architectural Team is providing architectural services and Keith Construction is serving as general contractor for the redevelopment project.
WOODBRIDGE, N.J. — Advance Realty and F. Greek Development have broken ground for the construction of a 190,000-square-foot refrigerated warehouse and distribution center at 275 Blair Road in Woodbridge. Situated on a 9.33-acre site, the property will be fully leased to Preferred Freezer Services, a nationwide operator of temperature-controlled warehouses. The joint-venture partnership of Advance Realty and F. Greek Development is developing the built-to-suit warehouse, which is slated for completion in April 2015.
TEWKSBURY, MASS. — Tritower Financial Group has acquired Ames Pond Corporate Center in Tewksbury, a northern suburb of Boston, for $15 million. The two-building, 154,000-square-foot office property is fully leased. The sellers, Leggat McCall and Dead River Properties, originally purchased the property in 2009 from ASB Capital and completed a series of upgrades to the buildings. David Pergola and Brian Doherty of Cassidy Turley represented the sellers in the transaction.
HOUSTON — Moody Rambin has represented Greystar in its acquisition of Skyline Apartments, located at 2222 White Oak Drive in Houston. Greystar will oversee the demolition of the property to make way for its new Class A community, known as Elan Heights. Christopher Dray of Moody Rambin represented Greystar in the acquisition. Juan Cuevas of Marcus & Millichap represented the seller, 2222 White Oak LLC. Additionally, Greystar worked with Woodland Heights Civic Association to develop a property that complements Woodland Heights, a historic neighborhood in Houston.
ROSENBERG, TEXAS — Marcus & Millichap has brokered the $3.8 million sale of Fort Bend Healthcare Center, a 56-bed skilled nursing facility at 3010 Bamore Road in Rosenberg. Doug O’Toole and Rod Llanos of Marcus & Millichap’s Houston office represented the seller, a limited liability company, in the transaction. O’Toole and Llanos also secured the buyer, another limited liability company.
DALLAS — Virtus Real Estate Capital, an Austin-based private equity firm, has acquired two Class B apartment communities in Dallas totaling 748 units. Virtus made the purchase in a joint venture agreement with a local partner and private management company. The properties, known as Bayou Bend and Pecan Square, are within walking distance of each other. Virtus will spend roughly $2.2 million to upgrade the two communities.
OAK RIDGE NORTH, TEXAS — The city of Oak Ridge North and the Oak Ridge North Economic Development Corp. have entered into an agreement to bring an iFLY Indoor Skydiving facility to The Shoppes at Oak Ridge North. The new $3.5 million, 5,600-square-foot facility will open in January 2015 at the shopping center, located at the intersection of I-45 North and Robinson Road in Oak Ridge North. UCR Realty represented the owner, Houston-based Grocers Supply Co., in the lease transaction.
SAN FRANCISCO — Emerald Fund has received a $58.8-million FHA section 221(d)(4) mortgage for the 101 Polk Apartments project in Downtown San Francisco. The community will be located on its namesake, 101 Polk Street, in the Civic Center/Mid-Market District. The area features notable tech companies, including Twitter, Dolby Laboratories, Yammer and Zoosk. The new project will contain 162 Class A units, including 19 affordable residencies. The loan was provided by RED Mortgage Capital LLC, the mortgage banking arm of RED Capital Group.