Property Type

SKANSKA TO CONSTRUCT NEW ELEMENTARY SCHOOL IN ANDOVER

by admin September 6, 2012

ANDOVER, MASS. — Skanska is constructing Bancroft Elementary School, a public school for the town of Andover. The project includes a new 106,486-square-foot building adjacent to the existing Bancroft Elementary School, which first opened in 1969. The new building will accommodate 680 students and will include classrooms, administrative space, a library, gymnasium and cafeteria. Crews plan to demolish the exisiting 65,000-square-foot elementary school. The town of Andover is seeking LEED Silver certification for the school. The project will be built in three phases and is scheduled for completion in November 2014. Symmes Maini & McKee Associates is the architect and Dore & Whittier is the project manager.

September 6, 2012

GFI ARRANGES $8.3M SALE OF SUNSET PARK MIXED-USE BUILDING

by admin September 6, 2012

NEW YORK CITY — GFI Realty Services has arranged the $8.3 million sale of 4112 4th Ave., a mixed-use building in Brooklyn. The 43,280-square-foot building contains 57 apartments and seven stores. The building is centrally located to the Gowanus Expressway as well as the D, N and R subway lines. Erik Yankelovich of GFI Realty Services represented the buyer, a local family, in the transaction. Joseph Landau of GFI represented the sellers, a partnership of local investors.

September 6, 2012

Healthcare Northeast

LOVE FUNDING REFINANCES $23.7M PORTFOLIO OF SKILLED NURSING LOANS

by admin September 6, 2012

CHICOPEE, SPRINGFIELD AND WESTFIELD, MASS. — Love Funding has arranged four loans totaling $23.7 million for the refinancing of a skilled nursing facility portfolio in Massachusetts. The properties include Willimansett Center East and Willimansett Center West in Chicopee, Chapin Center in Springfield and Governor's Center in Westfield. The Northeast Health Group Inc., a not-for-profit organization, acquired each of the properties in 1995. The buildings are operated by Airamid Health Management. Joshua Hausfeld of Love Funding secured the fixed-rate, 30-year loans through the U.S. Department of Housing and Urban Development's 232/223(f) loan program.

September 6, 2012

Multifamily Northeast

BURLINGTON MANAGEMENT ACQUIRES 18 APARTMENT UNITS

by admin September 6, 2012

CHELSEA, MASS. — Burlington Management has acquired 18 apartment units at 156-160 Park St. an 161-165 Pearl St. in Chelsea for $1.5 million. The apartments are housed in two, three-story rowhouse buildings. The Pearl Street building contains 10,296 square feet and the Park Street building includes 8,966 square feet. Both buildings have separate entrances and on-site washers and dryers. Carl Christie and Dan McGee of NAI Hunneman represented the seller in the transaction. They also procured the buyer.

September 6, 2012

Hospitality Texas

WYNDHAM LAS COLINAS SELLS

by admin September 6, 2012

IRVING — Rockwood Real Estate Advisors has brokered the sale of the 168-room Wyndham Las Colinas, a hotel located in the Las Colinas community in Irving. The hotel features a business center, an indoor pool, fitness center, concierge, guest laundry and shuttles to area attractions. Andrew Kern and David Altobello of Rockwood's Bethesda, Md., office represented the seller, an affiliate of Investcorp International, in the transaction. Rockwood also sourced local investors to purchase the property.

September 6, 2012

Multifamily Texas

CONNOR GROUP PURCHASES AUSTIN MULTIFAMILY PROPERTY

by admin September 6, 2012

AUSTIN — The Connor Group has acquired the 253-unit Cityview at SoCo, an apartment community located in Austin. The property was formerly known as Camden South Congress and it features several retail spaces. The acquisition marks The Connor Group's first property in Austin.

September 6, 2012

Mixed-Use Texas

RETAIL PROPERTY FETCHES $6M LOAN

by admin September 6, 2012

HOUSTON — Q10 Kinghorn, Driver, Hough & Co. (KDH) has arranged $6 million in long-term financing for a mixed-use development, located on Lake Houston. The development includes three retail buildings and one office/retail building. Sam McHard of KDH's Houston office arranged the loan through AVIVA.

September 6, 2012

Multifamily Texas

NORTHMARQ ARRANGES FINANCING FOR APTS.

by admin September 6, 2012

HOUSTON — NorthMarq Capital has secured first mortgage refinancing for the 260-unit Steeplecrest Apartments, located at 11220 W. Road in Houston. Greg Duvall of NorthMarq's Kansas City, Kan., office arranged the 10-year loan with a 30-year amortization schedule through AmeriSphere Multifamily Finance, a Fannie Mae DUS lender.

September 6, 2012

Restaurant Texas

NEW RESTAURANT COMING TO WEST 7TH

by admin September 6, 2012

FORT WORTH — Chef Jon Bonnell of Bonnell's Fine Texas Cuisine will open Waters, Bonnell's Fine Coastal Cuisine, a 7,775-square-foot upscale restaurant, in the West 7th mixed-use development in Fort Worth. The property will be located at 2901 Crockett St., and the opening is slated for February 2013. Rodger Chieffalo of Chiefallo Realty, along with Frank Bullock and Carey Shagets of SRS Real Estate Partners, represented the landlord, Cypress Equities, in the lease transaction. Attorney Jack Larson represented the tenant.

September 6, 2012

Hospitality Western

EMBASSY SUITES HOTEL IN ANAHEIM SELLS FOR $25.5M

by admin September 6, 2012

ANAHEIM, CALIF. – The 222-room Embassy Suites – Anaheim-North has sold to Urban Commons, LLC for $25.5 million. The seller, FelCor, will use the net proceeds to repay a portion of the $88-million balance on its CMBS loan that matures in 2013. FelCor was represented by HREC Investment Advisors.

September 6, 2012

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