NEW YORK CITY — Skanska USA and Forest City Ratner will soon break ground on B2, the first residential tower that is part of the Atlantic Yards Development in Brooklyn. The groundbreaking for the 32-story apartment building will be held on Dec. 18 and the building is expected to open in 2014. The 363-unit building will be located at the intersection of Dean Street and Flatbush Avenue. Amenities will include a fitness center, bike storage, a resident lounge, game room, yoga studio and roof terrace. Each unit will have a washer and dryer.
NEW YORK CITY — HFF has arranged $81 million in financing for Jamaica Center, a mixed-use property in the Jamaica section of Queens. The sponsor, Mattone Group, developed the urban retail center in 2002, which includes a 15-screen theater, office space and 375-space parking garage. Tenants include Old Navy, Bally Total Fitness and Walgreens. Robert Delitsky led the HFF team that arranged the 10-year, fixed-rate loan through Jefferies Loan Core.
STAMFORD, CONN. — ClearRock Properties has purchased a 270,000-square-foot, four-building mixed-use portfolio in Stamford. ClearRock and joint venture partner Contrarian Capital Management purchased the underlying non-performing mortgage in May, and recently completed a foreclosure. The real estate firm will begin a redevelopment and leasing project at one of the buildings, 700 Canal St., to modernize its exterior and redesign the main entrance. The property is a former industrial building that was converted to office space in the 1980s. The other buildings, 850, 860 and 880 Canal St., may undergo some renovations as well, the company stated. The portfolio is situated along the waterfront of one of the nation's largest redevelopment projects, Harbor Point, in the redeveloped South End.
PLANO — Cole Real Estate Investments has acquired a 318,600-square-foot, Class A office tower in Plano's Legacy Business Park for $120 million. The 12-story property is fully leased to Encana Oil & Gas and was delivered earlier this year. The property features a seven-story parking structure connected to the building via a skybridge. There are 15 years remaining on Encana's lease. Cole was self-represented by Boyd Messmann in the transaction.
PLANO — A 47,000-square-foot former Sports Authority, located at 701 Taylor Drive in Plano, will be the site of the new Dark Shadows Entertainment Center. The new tenant will provide year-round events, such as murder mystery dinners, corporate meetings, musical specials and weddings, as well as seasonal events, including haunted houses and Christmas fares. Construction of the new complex is expected to begin before the end of the year. Shawn Loney and Greg Trout of Henry S. Miller Brokerage represented the seller in the transaction.
ROSENBERG — Guru Krishna Corp. has purchased the 77-room Hampton Inn, located at 3312 Vista Drive in Rosenberg. R.S. Patel of Colliers International Hotels represented both the seller, Janmangal LTD, and the buyer in the transaction. The transaction was a short sale for Comerica Bank.
HOUSTON — Marcus & Millichap has arranged the sale of the 22,465-square-foot Fondren Shopping Center, located at 2801 Fondren Road in Houston. Derek Hargrove and Justin Miller of Marcus & Millichap's Houston office represented the seller, Braun Enterprises, in the transaction. Hargrove and Miller also procured the all-cash buyer, a Houston-based limited liability company.
RICHARDSON — NorthMarq Capital has secured $6 million in first mortgage refinancing for a four-property industrial portfolio totaling 186,376 square feet in Richardson. Ronald Reese of NorthMarq's Dallas office arranged the 10-year loan to amortize in 25 years. The loan was provided through a life company on behalf of the borrower, RMB Investments.
CARLSBAD, CALIF. – The 163-unit Villa Real Apartments in Carlsbad has sold to Triumph Properties Group for $20.1 million. This is the firm’s first multifamily purchase in San Diego County. The community is located at 2701 Avenida de Anita. Triumph plans to invest $3.5 million in capital improvements to reposition the community. John Chu, Ed Rosen and Alexjandro Lombrozo of Cushman & Wakefield of San Diego represented both the buyer and the seller, receiver Douglas Wilson and Company, in this transaction.
GLENDALE, CALIF. — An investment group headed by Capital Real Estate Advisors has purchased a 34,000-square-foot, stand-alone grocery store building in Glendale. The seller, a previous tenant, vacated the building in early November. Capital Real Estate plans to retant and potentially redevelop the property. The firm was represented in-house by Michael Poyer.