WICHITA, KAN. — NorthMarq Capital has arranged a $12.6 million loan for the refinancing of LaCrosse Apartments, a 176-unit Class A multifamily property, located at 7201 E. 37th St. in Wichita. John Bendon of NorthMarq arranged the 10-year loan through AmeriSphere Multifamily Finance, a Fannie Mae DUS lender. The loan features a 30-year amortization schedule.
EDGEWATER, N.J. — One Main Street Edgewater LLC has secured a $41.5 million loan for a multifamily and retail property at 1 Main St. in Edgewater. The 12-month loan will be used to pay off an existing construction loan and will allow for partial recapture of the borrower's equity. The 132,000-square-foot property, the second phase of a development of 495 residences and 100,000 square feet of retail, consists of two buildings containing 110 apartments and approximately 16,000 square feet of retail space. Construction is set to be completed in February. John DiCrocco of Berkadia Commercial Mortgage LLC arranged the loan.
NEW YORK CITY — Gale International has acquired a development site at 19-25 W. 20th St., between Fifth and Sixth avenues, for $9.7 million. The Landmarks Preservation Commission has approved plans for a 15-story residential building and a three-story addition to the existing parking garage. The project will include 19 apartments. Bob Knakal and John Ciraulo of Massey Knakal represented both parties in the transaction.
MANSFIELD, MASS. — The Lacerta Group, a custom thermoformed packaging maker, has acquired a 75,000-square-foot industrial building at 240 Forbes Blvd. in Mansfield for $4.3 million. The building is located in the Cabot Business Park and is situated on six acres. Catherine Minnerly and Ovar Osvold of NAI Hunneman represented the seller, Yale Appliances, in the transaction. They also procured the buyer.
GREENWICH, CONN. — General Atlantic LLC, a private equity firm, has signed an 11-year lease for 29,412 square feet of office space at 600 Steamboat Road in Greenwich. The space is located within a 180,000-square-foot Class A building, located near I-95. Brian Higgins, Chris Kraus, George Walker and Ethan Rice of Jones Lang LaSalle represented the building owner, GRC Realty Corp. Robert Martin and Gil Ohls, also of Jones Lang LaSalle, represented the tenant.
HOUSTON — Trammell Crow Co., in a joint venture with Principal Real Estate Investors (PREI), plans to develop the 456,000-square-foot Noble Energy Center Two, a 20-story office building that will serve as the headquarters for Noble Energy, in Houston's Northwest submarket. The property features an eight-story parking garage as well. Trammell Crow and PREI purchased the adjacent Noble Energy Center One and an adjacent land parcel for the development of Noble Energy Center Two in May 2011. The two properties will be connected via an elevated sky bridge. Construction is set to begin this summer with an expected completion in mid-2015. The development team, including Kirksey Architects, is aiming to achieve LEED Silver certification. Jim Arket and Mona Williams of James Arket and Co. represented Noble Energy in the lease transaction for the build-to-suit property. Aaron Thielhorn, Kevin Schmok and Brandon Houston of Trammel Crow, along with Joe Wanninger of PREI, will lead the development team.
HOUSTON — Liberty Property Trust has commenced the development of Central Green 11, a 181,000-square-foot industrial property, located at 16200 Central Green Blvd. in the Central Green Business Park in the north Houston submarket. The build-to-suit project is leased to GAC Energy & Marine Services LLC. The development team for the project includes Ken Chang of Liberty Trust; Seeberger Architect; Getz & Associates; and Cadence McShane. The development team is designing the facility to achieve LEED certification. Bob Bandos, CEO of GAC Energy & Marine Services, along with Derrick Jones, represented the buyer in the transaction.
HOUSTON — McShane Healthcare Solutions has completed a new 35,240-square-foot sports medicine and athletic facility, located within the Houston Amateur Sports Park at 12211 Kirby Drive in Houston. The owner, Competitive Edge Sports (CES) Performance, occupies an 18,505-square-foot custom, high-bay space within the new complex. The Methodist Center for Sports Medicine, the official healthcare provider of the Houston Texans, Astros, Dynamo, Rice Athletics, Houston Rodeo, Houston Symphony, Houston Ballet and the Houston Grand Opera, occupies 7,000 square feet in the complex. The single-story facility will also serve as the permanent training center of the Dynamo soccer team, with the team occupying 5,125 square feet of space. Cadence McShane Construction Co. provided the design/build construction services, and Houston-based Seeberger Architecture will provide architectural services.
MCALLEN AND WESLACO, TEXAS — The Chicago office of Tremont Realty Capital has arranged two loans totaling $11.1 million for four manufactured home and RV communities in McAllen and Weslaco, Texas. The communities include The Homestead and Homestead Ranch in McAllen and Leisure World & Trails End in Weslaco. Tom Lorenzini of Tremont arranged the 10-year loans to both amortize during the next 30 years through a CMBS lender.
SAN DIEGO – A 359,218-square-foot, 24-story office building in Downtown San Diego has sold to a joint venture between Lincoln Property Company and Angelo, Gordon & Company for $49 million. The high rise is located at 600 B Street. It is 85 percent occupied. Notable tenants include the City of San Diego and Bridgepoint Education, as well as several law firms. This is Lincoln’s first acquisition in the area since it opening a San Diego office this past May.