MOUNT ARLINGTON, N.J. — Mark Scott’s Commercial Mortgage Capital has arranged a $14.3 million loan assumption for an 80,355-square-foot, active-adult community in Mount Arlington. Landmark Cos. LLC acquired the 105-unit Carriage Club from Pantzer Properties and as part of the sale, the buyer assumed the Freddie Mac loan. Located at 1 Hillside Drive, the seven-acre community features a mix of one- and two-bedroom units that range in size from 790 square feet to 1,030 square feet.
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EGG HARBOR TOWNSHIP, N.J. — Washington Trust’s commercial real estate group has provided $13 million in financing to an affiliate of MCR Development LLC for the 120-room Homewood Suites by Hilton Egg Harbor hotel. The four-story hotel is located at 3008 English Creek Ave. in Egg Harbor Township. The hotel offers extended-stay lodging with an indoor swimming pool, exercise room, sports court, business center, suite shop and guest laundry room. The property was acquired in May 2012.
SOUTHPORT, CONN. — Vidal Wettenstein LLC has arranged the $2.3 million sale of 200 Pequot Avenue, a 13,000-square-foot office building in Southport. Pullman & Comley LLC formerly used the property as its headquarters. Computer Consulting Associates Inc. sold the building to SG Pequot 200 LLC. Robert Lewis of Vidal Wettenstein arranged the transaction.
NEW YORK CITY — GFI Realty Services Inc. has arranged the $2.3 million sale of 629 Grand Street, a vacant four-story apartment building located in the East Williamsburg section of Brooklyn. The multifamily property features three rental units, a ground-floor retail space and approximately 3,890 square feet of available air rights. Joseph Landau of GFI represented the buyer and the seller, both local investors, in the transaction. The building was constructed in 1920 and is located in close proximity to the Lorimer Street, Metropolitan Avenue and Grand Avenue subway stations.
PFLUGERVILLE, TEXAS — Q10 | Kinghorn, Driver, Hough & Co. (Q10 | KDH) has arranged a $19 million construction take-out loan for Oaks at Techridge, a 336-unit multifamily property in the northern Austin suburb of Pflugerville. Located at 14000 The Lakes Blvd., the Class A, garden-style community offers one- and two-bedroom apartments, as well as a swimming pool, fitness center and business center. Matt Franke of Q10 | KDH worked on behalf of the borrower, the U.S. affiliate of a diversified construction and development company, to secure the long-term, fixed-rate loan through Quadrant Real Estate Advisors.
AUSTIN, TEXAS — Avesta Communities has acquired Anderson Springs Apartment Complex, a 325-unit multifamily property in Austin. The community, which will be rebranded as Avesta Agave Falls, offers one- and two-bedroom apartments in flat and townhome styles, as well as two swimming pools, a fitness center and playground. Constructed in 1974, the asset is located along U.S. Highway 183, in proximity to the Walnut Creek business park. Avesta Communities is based in Tampa, Fla.
NORTH RICHLAND HILLS, TEXAS — Marcus & Millichap has brokered the sale of the 87-room Best Western Northeast Mall Inn & Suites in the Fort Worth suburb of North Richland Hills. Located at 8709 Airport Freeway, the select-service hotel includes a fitness center, outdoor swimming pool and business center. Chris Gomes, Skyler Cooper and Allan Miller of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Gomes also procured the buyer, a private investor.
NEW BRAUNFELS, TEXAS — CBRE has brokered the sale of an 18,855-square-foot healthcare facility in New Braunfels. The property, known as Christus Santa Rosa Physicians’ Ambulatory Surgical Center, is located at 1738 E. Common St., equidistant from Christus Santa Rosa Hospital and the new Resolute Health Hospital, slated to open later this year. A partnership between Christus Santa Rosa and multiple physicians fully occupies the building. Scott Herbold of CBRE represented the unnamed sellers in the transaction. Austin-based Long View Equity Partners purchased the asset.
SANTA CLARA, CALIF. — Bixby Land Company has acquired the Lake Park Business Center, a 405,330-square-foot office project in Santa Clara. The seven-building center reportedly sold for more than $100 million. The center is situated on a 19.3-acre parcel bordered by Patrick Henry Drive, Bunker Hill Lane, Old Ironsides Drive and Tasman Drive. It is located just west of Levi’s Stadium, the new home of the San Francisco 49ers. Lake Park was 65 percent leased at the time of closing. Silicon Valley Bank occupies three of the center’s buildings. Bixby plans to carry out significant exterior and interior renovations to convert the property into a contemporary workplace. Construction is scheduled for completion by the end of the year. The repositioning is expected to cost $20 million. This is the fourth major office park reposition Bixby has carried out in Silicon Valley over the past two years. The seller was Divco West.
STOCKTON, CALIF. – A joint venture between USAA Real Estate Company and Seefried Properties has acquired a two-property industrial portfolio in Stockton for a reported $51.5 million. The portfolio includes a 750,561-square-foot building inside the Newcastle Logistics Center, which is located at 4650 Newcastle Road, and a 165,474-square-foot building inside the Performance Logistics Center at 834 Performance Drive. The 916,035-square-foot portfolio was developed between 2008 and 2009. Both buildings are occupancy-ready, institutional-grade bulk distribution centers. The JV purchased the portfolio in a bankruptcy process. USAA was represented by Tyson Vallenari, Blake Rasmussen, Kevin Dal Porto and Ryan McShane of CBRE’s Industrial Real Estate team. The team also serves as the leasing agents for both properties.