CHICAGO — American Tower Corp. has acquired the 93rd and 97th floors of the John Hancock Center in Chicago, as well as rights to the existing telecommunications leases associated with the property. The sale includes more than 34,000 square feet for broadcast and telecommunications equipment and two broadcast towers. American Tower says it plans to market the property to both broadcast and wireless tenants.
KANSAS CITY, MO. — Berkeley Point Capital has arranged a $33.2 million loan for the acquisition and renovation of Camden Passage, a 596-unit apartment community in Kansas City. Robert Cantizano of Berkeley Point arranged the 10-year loan through Fannie Mae, which features three years of interest-only payments and seven years yield maintenance. The borrower, a multifamily investment fund focused on core and value-add acquisitions, plans to use some of the funds for its capital investment budget and to rename the property Northland Passage.
CAMBRIDGE, MINN. — Opus Development Corp. has sold five acres of land in Cambridge to Mills Fleet Farm. The company recently purchased a nearby building, which it plans to convert into a store, and acquired the land for additional space. The parcel is located off of Highway 95 next to the Cambridge Retail Center, which includes a Target and Cub Foods. Mid-America Real Estate represented Opus in the transaction. Mills Fleet Farm is a family-owned retailer, which carries farm, horse, pet, automotive, clothing and other goods.
BOSTON — DivcoWest Properties has acquired a four-property, 362,562-square-foot office portfolio for $106.7 million in Boston's Seaport District. The properties include 300 A St. (106,171 square feet); 313 Congress St. (70,217 square feet); 330 Congress St. (35,811 square feet); and 51 Sleeper St. (150,363 square feet). Originally constructed as wool warehouses, the assets have been converted into high-quality office spaces. Coleman Benedict and Ben Sayles led the HFF team that represented the seller, Brickman Associates, in the transaction. They also procured the buyer. Additionally, HFF arranged the $31.4 million acquisition financing for 51 Sleeper St., which was financed by Eastern Bank.
ROCHELLE PARK, N.J. — Real Estate Growth Advisors has acquired Swan Court Apartments, a 126-unit apartment community in Rochelle Park for $15 million. The sale equates to a 5.6 percent cap rate and $119,048 per unit. The property is located at 235 W. Passaic St. across the street from a ShopRite-anchored shopping center. Thomas McConnell of Marcus & Millichap represented the seller, Genwill Co., in the transaction. He also represented the buyer.
NEW YORK CITY — Johnson Capital has arranged a $24 million loan for the 133-room Marriott Fairfield Inn & Suites in the Boerum Hill neighborhood of Brooklyn. The 12-story limited service hotel opened in 2011 and is located at 181 3rd Ave. Troutbrook Co. developed the property on a site that formerly housed industrial and warehouse buildings. A CMBS lender provided the five-year loan, which will be used to refinance a construction loan. The financing features a fixed interest rate of approximately 4 percent.
GREENCASTLE, PA. — World Kitchen, a kitchenware provider, has signed two leases for industrial space totaling more than 1.6 million square feet in Greencastle and Riverside, Calif. The Greencastle location features 1 million square feet. World Kitchen plans to invest $10 million to create 20,000 square feet of new office space, replace HVAC systems throughout the facility and make other upgrades. Site work will include the expansion of trailer parking by more than 150 stalls. Michael Flynn and Jason Wurtz of NAI Hiffman represented World Kitchen in the Greencastle lease. Matrix Development Corp. represented the landlord.
NEW YORK CITY — Daniel Hilpert of Mortgage Equicap has arranged a $2.8 million loan for the acquisition and development of a retail speculative project in the Lower East Side. The borrower, a developer, purchased a vacant single-tenant structure and is redeveloping the property into a three-story retail property.
AUSTIN — Crossbeam Concierge has purchased the 290-unit Parmer Place, a multifamily community located at 12101 Dessau Road in Austin’s Tech Ridge submarket. The buyer plans to enhance the common area amenities, including the pool, deck, grilling areas, fitness center and clubhouse. The buyer also plans to implement new landscaping, exterior painting and entry enhancements. Crossbeam’s affiliate, Concierge Management Services, will operate the property.
DALLAS — Marcus & Millichap has arranged the sale of the 208-unit Mayan Palms, a multifamily community located at 7526 Hunnicut Road in Dallas. The property is 91 percent occupied, and the buyer plans to make renovations to the community. Al Silva of Marcus & Millichap’s Fort Worth office represented the seller, an El Paso-based partnership, in the transaction. Silva also represented the buyer, Mayan Palms LLC.