HILLIARD, OHIO — KeyBank Real Estate Capital has arranged a $13.7 million loan for the refinancing of Carriage Court of Hilliard, a 102-unit assisted living and memory care community in Hilliard, a suburb of Columbus. Jack Boudler of KeyBank negotiated the 35-year loan through the U.S. Department of Housing and Urban Development's HUD 232/223(a)(7) program. The borrower is Sentio Healthcare Properties.
PHILADELPHIA — Pennrose Properties and dmhFund have broken ground on a $19.5 million LGBT-friendly senior housing project in Philadelphia. The six-story affordable housing project will feature 56 one-bedroom units and multi-purpose public spaces. The project is slated for completion in 2013. Funding for the development stems from a Philadelphia HOME grant, Pennsylvania Redevelopment Assistance Capital Program funds and Low-Income Housing Tax Credits. Mark Segal, president of dmhFund and a well-known gay rights activist, is spearheading the project.
NEW YORK CITY — JMC Holdings has acquired a 34,722-square-foot office penthouse at 99 Hudson St. in New York City for $18.5 million. The space spans three contiguous floors in the 16-story building and features a private roof deck. The new owner plans to invest $4 million in renovating the space. The seller is NAACP Legal Defense Fund, which occupied the property since 1984. JMC Holding was self-represented by Matt Cassin and David Taylor. Janet Woods of Jones Lang LaSalle represented the seller.
NEW YORK CITY — The Federal Emergency Management Agency (FEMA) has signed a 200,000-square-foot lease at Forest HillsTower, to serve as the agency's New York City headquarters over the next several months. FEMA will utilize the space for administrative offices. There will be no on-site access to the general public. Given the organization's urgent need to oversee emergency-related activities in the aftermath of Hurricane Sandy, FEMA closed the transaction within a 48-hour period. Ken Siegel of Jones Lang LaSalle represented the landlord, Muss Development in the transaction. Mark Greenspan of CBRE Group represented the United States General Services Administration, which acted on behalf of FEMA.
ASHAWAY, R.I. — Chase Hill Rd Properties has acquired a single-story, 170,000-square-foot manufacturing building at 50 Chase Hill Road in Ashaway. The building features concrete floors, 26-foot clear ceiling heights and 10,000 square feet of office space. The new owner plans to upgrade the property. Tim O' Callaghan of Binswanger represented the seller, Shamrock Associates, in the transaction.
NEW YORK CITY — The International Gemological Institute (IGI) has inked a lease for 20,400 square feet of office space at 551 Fifth Ave. in New York City. IGI is the largest independent gemological laboratory in the world. The company will take over the entire seventh floor in the base of the 38-story tower this January. Jarod Stem of Studley represented the landlord, The Feil Organization, in the transaction. He also represented the tenant.
PLAINFIELD, N.J. — Treetop Development has acquired a 108-unit HUD apartment complex in Plainfield for $9.8 million. The garden-style apartment buildings are located at 825 E. Front St. Treetop plans to add new landscaping, new roofs and will complete interior apartment renovations. The acquisition is part of the company's ongoing strategy to add more than 3,000 units to its portfolio in cities such as Newark, East Orange and Jersey City.
TEXAS — Seavest Healthcare Properties has sold 14 medical office buildings in six states totaling 1.2 million square feet to Duke Realty for $332 million. The purchase price averages out to approximately $267 per square foot. The 14 properties included four from Texas, including the Longview Medical Office Building in Longview, Hillcrest Baptist Medical Center I & II in Waco and the Medical Mall of Abilene in Abilene. The properties, on average, are 90 percent leased and most are located on hospital campuses. Seavest sold the properties from its Seavest Properties I & II investment funds. Evercore Partners acted as sole advisor to Seavest.
AUSTIN — A joint venture between New York City-based Hudson Realty Capital and Pomeroy Investment Corp. has sold the 172,637-square-foot Capitol Tower office building, a Class A tower located in Austin, for $49 million. The 20-story office property is located at 206 E. Ninth St. in Austin's Central Business District and includes a 736-space on-site parking garage. The joint venture launched a comprehensive $10 million renovation program following its purchase in 2006. The property is fully leased to tenants including an advertising agency, legal firms, technology companies and marketing agencies.
LANCASTER — Prologis has signed a build-to-suit agreement for more than 1.2 million square feet of industrial space for a food and beverage company, located at Prologis Park 20/35 in Lancaster. At full build-out, Prologis Park 20/35 will include more than 3.1 million square feet. Construction of the facility is slated to begin in January 2013.