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Keystone-Villa-at-Douglassville
LoansMultifamilyNortheastPennsylvaniaSeniors Housing

BWE Arranges $57.8M Loan for Refinancing of Seniors Housing Property in Douglassville, Pennsylvania

by Taylor Williams

DOUGLASSVILLE, PA. — BWE, the commercial finance firm formerly known as Bellwether Enterprise Real Estate Capital, has arranged a $57.8 million loan for the refinancing of Keystone Villa at Douglassville, a 248-unit seniors housing property located about 55 miles northwest of Philadelphia. The property comprises a 123-unit independent living building that was constructed in 2015 and a 125-unit assisted living and memory care building that was constructed in 2011. Ryan Stoll and Taylor Mokris of BWE arranged the nonrecourse loan through Commercial Bank on behalf of the borrower, a joint venture between private investment trust ReNew REIT and operator Heritage Senior Living. The property was 92 percent occupied at the time of the loan closing.

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58-Vanderbilt-Ave.-Brooklyn
Affordable HousingLoansMultifamilyNew YorkNortheast

Greystone Provides $32M CMBS Loan for Refinancing of Brooklyn Affordable Housing Complex

by Taylor Williams

NEW YORK CITY — Greystone has provided a $32 million CMBS loan for the refinancing of a 90-unit affordable housing complex in the Clinton Hill neighborhood of Brooklyn. The building at 58 Vanderbilt Ave. was completed in 2023 and features studio-, one- and two-bedroom units. Amenities include a rooftop terrace, business center and a recreation room, and the building houses two commercial spaces on the ground floor. Rose Schwartz and Gabby Gutwein of Everest Equity arranged the loan, which was structured with a 51 percent loan-to-value ratio, a five-year term and a 30-year amortization period. The borrower was not disclosed.

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AcquisitionsNew YorkNortheastRetail

Houlihan-Lawrence Negotiates $4.7M Sale of Yonkers Retail Property

by Taylor Williams

YONKERS, N.Y. — Locally based brokerage firm Houlihan-Lawrence Commercial has negotiated the $4.7 million sale of an 18,000-square-foot retail property in Yonkers, located north of New York City. Apparel and footwear retailer Snipes anchors the property, which features nine storefronts and is also home to Yonkers Paint & Hardware. Garry Klein of Houlihan-Lawrence represented the seller in the transaction, and the firm’s Jared Stone represented the buyer. Both parties requested anonymity.

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ConnecticutLeasing ActivityNortheastRetail

Whole Foods to Open 44,648 SF Store in Stamford, Connecticut on Dec. 12

by Taylor Williams

STAMFORD, CONN. — Whole Foods Market will open a 44,648-square-foot store in Stamford, located in southern coastal Connecticut, on Thursday, Dec. 12. The space at 110 High Ridge Road previously housed a Lord & Taylor store, and the renovated space is inspired by the former store’s layout. The store will feature full-service meat and seafood counters, a bakery, prepared foods section and a wellness and beauty section, as well as a selection of more than 200 craft beers.

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Leasing ActivityNew JerseyNortheastOffice

Interstate Waste Services Signs 30,000 SF Office Lease Expansion in Teaneck, New Jersey

by Taylor Williams

TEANECK, N.J. — Interstate Waste Services has signed a 30,000-square-foot office lease expansion at Glenpointe, a 670,000-square-foot, four-building mixed-use development in the Northern New Jersey community of Teaneck. The deal brings the company’s total footprint at Glenpointe to 47,545 square feet. Jeff Schotz, Dan Reider, Peter Kasparian and David Simson of Newmark represented the landlord, Alfred Sanzari Enterprises, in the lease negotiations. Andrew Zezas of Real Estate Strategies Corp. represented the tenant.

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DevelopmentIndustrialMidwestTop StoriesWisconsin

Lilly Plans $3B Expansion to Pharmaceutical Manufacturing Facility Near Milwaukee

by John Nelson

PLEASANT PRAIRIE, WIS. — Eli Lilly and Co. (NYSE: LLY) has unveiled plans for a $3 billion expansion of the company’s pharmaceutical manufacturing facility in Pleasant Prairie, located 37.5 miles south of Milwaukee. Lilly acquired the facility from Nexus Pharmaceuticals in April 2024. The Indianapolis-based company plans to start construction on the expansion next year. The expanded facility will focus on the production of injectable medicines, device assembly and packaging for medicines across numerous therapeutic areas. Lilly plans to implement automated features such as guided vehicles, robotics and production equipment in order to accelerate and increase the accuracy of medicine production. Lilly expects to add 750 jobs to the workforce at the facility, which currently comprises about 100 individuals. New jobs at the location will include operators, technicians, engineers and scientists. Additionally, the company states that more than 2,000 construction jobs will be created during the project’s development. “Today’s announcement represents our single largest U.S. manufacturing investment outside our home state of Indiana and will add to our ability to expand capacity to make both our existing and future pipeline of medicines right here in the Midwest,” said Edgardo Hernandez, executive vice president and president of Lilly Manufacturing Operations. Lilly states …

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San-Paseo-Apartments-Katy
DevelopmentMultifamilyTexas

Sueba USA Completes 293-Unit San Paseo Apartments in Katy, Texas

by Taylor Williams

KATY, TEXAS — Locally based developer Sueba USA has completed San Paseo, a 293-unit apartment community in the western Houston suburb of Katy. Located near the northeast corner of I-10 and the Grand Parkway, San Paseo consists of 273 apartments and 20 townhomes. Apartments come in studio, one-, two- and three-bedroom floor plans and range in size from 496 to 2,088 square feet, while the townhomes feature three different layouts and have an average size of about 2,450 square feet. Amenities include multiple pools, outdoor grilling and dining stations, a fitness center, coworking space and a coffee bar. Rents start at $1,170 per month for a studio apartment.

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AcquisitionsMultifamilyTexas

Muskin | Elam Group Negotiates Sale of Six Multifamily Properties Totaling 179 Units in Austin

by Taylor Williams

AUSTIN, TEXAS — Locally based brokerage firm Muskin | Elam Group has negotiated the sale of six multifamily properties totaling 179 units in Austin. The properties, which include The Hyde Park Collection, Baccarat Apartments and Adobe Apartments, are concentrated in the Hyde Park neighborhood and have an average construction vintage of 1974. The four Hyde Park Collection properties were sold by the original developers, and there were three different buyers across the six assets. All parties involved requested anonymity.

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AcquisitionsMultifamilyTexas

Marcus & Millichap Brokers Sale of 60-Unit Multifamily Portfolio in Metroplex Suburbs

by Taylor Williams

DALLAS — Marcus & Millichap has brokered the sale of the Dallas Duplex Portfolio, a collection of 30 duplex buildings that are located across southern suburbs of the Dallas-Fort Worth metroplex. Specifically, the buildings, which were constructed between 1983 and 2000 and total 60 two-bedroom units, are located in DeSoto, Ennis, Mansfield and Glenn Heights. Chris Pearson, Bard Hoover, Nick Fluellen and Garret Nelson of Marcus & Millichap represented the seller, a local private investor, in the transaction and procured the buyer, Vault Cap. The sales price was not disclosed.

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DevelopmentLife SciencesTexas

St. John Properties Delivers 45,600 SF Life Sciences Building in Metro Austin

by Taylor Williams

GEORGETOWN AND ROUND ROCK, TEXAS — Baltimore-based St. John Properties has delivered a 45,600-square-foot life sciences building on the northern outskirts of Austin. The building is the first to be completed at Westinghouse Crossing, a 225,000-square-foot mixed-use development located at the southern border of Georgetown and the northern border of Round Rock. The 35-acre development will ultimately feature 170,000 square feet of research-and-development facilities, 40,000 square feet of office space and 15,000 square feet of retail space.

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