NEW YORK CITY — LinkedIn Corp. has expanded its lease at the Empire State Building to more than 72,000 square feet on two full floors. The social networking website operator originally leased 32,000 square feet on the entire 25th floor in 2011. LinkedIn, which boasts more than 187 million members in 200 countries, plans to occupy the space in 2013. Sacha Zabra of CBRE Group represented the tenant in the transaction. William Cohen and Ryan Kass of Newmark Grubb Knight Frank represented the landlord, W&H Properties.
BROOKLINE, MASS. — Kaplan Construction is building the new 12,000-square-foot Brookline Teen Center at 40 Aspinwall Ave. in Brookline. The facility will provide out-of-school activities for Brookline-based teens in grades seven through 12. Kaplan will renovate a former garage for the facility, and the new space will feature a bowling alley, gym, recording studio, lounge, outdoor patio, cafe, aerobics dance study, game rooms and a study hall. The facility is slated for completion in the summer of 2013. The project team also includes GLC Development Resources, Stantec, RSE Associates and WSP Flack & Kurtz.
SAN ANTONIO — Austin-based TRISUN Healthcare and Dallas-based Suntex Development have broken ground on Lakeside Assisted Living, a 56,500-square-foot assisted living and memory care facility that will be located at 8627 Lakeside Parkway in west San Antonio. The new facility will be located adjacent to TRISUN Care Center Lakeside, a skilled nursing and rehabilitation facility. The property will consist of 42 assisted living units and 18 memory care units. The facility is slated to open in the summer of 2013.
HOUSTON — HFF has brokered the sale of the 176,799-square-foot 777 Post Oak Boulevard, a nine-story office building located in Houston's Galleria/West Loop submarket. The property was renovated in 1998 and is fully leased. Robert Williamson and Rusty Tamlyn of HFF represented the seller, an institutional owner, in the transaction. Corby Chaffin of HFF also arranged acquisition financing on behalf of the buyer, an international investing real estate fund managed by Switzerland-based Credit Suisse AG. Washington, D.C.-base Lacy Ltd. advised Credit Suisse in the transaction.
CEDAR PARK — Marcus & Millichap has arranged the sale of New Hope Manor, a 114-bed skilled nursing facility located at 1623 W. New Hope Drive in Cedar Park. The list price of the property was $6.5 million. Rod Llanos of Marcus & Millichap's Houston office represented the seller, a developer, and the buyer, a limited liability company, in the transaction. The property was built in the 1990s.
SAN ANTONIO — Peloton Commercial Real Estate has arranged the sale of the 38,000-square-foot Brookhollow Atrium, an office building located at 1000 Central Parkway N. in San Antonio. Jason Adkinson and Scott Boynton of Peloton represented the seller in the transaction. Paul Fagan of San Antonio Commercial Advisors represented the buyer. Adkinson and Boynton brought the property to full occupancy prior to the sale.
COPPELL — NorthMarq Capital has secured $1.72 million in first mortgage refinancing for the 10,000-square-foot Denton Tap Plaza, an unanchored retail property located at State Highway 121 and Denton Tap in Coppell. Phillip Bankhead of NorthMarq's Dallas office arranged the 10-year loan with a 30-year amortization schedule through a CMBS lender.
STUDIO CITY, CALIF. — Studio 40-41, a 149-unit apartment community in Studio City, has sold to an Archstone-sponsored partnership for $56.3 million. It is located on Radford Avenue across from the CBS Studio Center. The community will be renamed Archstone Studio 4121.
SAN FRANCISCO — CIM Group has sold a 10-property multifamily portfolio that is based in San Francisco. The portfolio contains a total of 418 units spread among 22 buildings. The properties sold to multiple buyers. The group is also looking to divest an additional 12 properties that are part of the portfolio. CIM initially acquired the portfolio through a deed-in-lieu-of-foreclosure transaction.
PORTLAND, ORE. – The 290-unit RiverPlace Square Apartments in Portland has received $54 million in financing. The joint venture between Cardinal Group Investments LLC and Fundamental Advisors LP obtained a $44.5-million loan that was placed with a national bank, as well as a $9.5-million mezzanine loan with a mortgage REIT. The loan proceeds were used to acquire the property. The community is located at 2083 SW River Drive. The JV plans to renovate and rebrand the property as Mint Urban. Financing was arranged by HFF’s Pat Burger, Tim Wright and Tom Wilson.