MOUNT HOLLY, N.J. — New Jersey-based financial intermediary G.S. Wilcox & Co. has arranged a $12 million loan for the refinancing of Fair Ground Plaza, a 178,532-square-foot shopping center located outside of Philadelphia in Southern New Jersey. The center was 90 percent leased at the time of the loan closing. Grocer Acme Markets is the anchor, and other tenants include Staples, Dollar Tree and Advance Auto Parts. David Fryer of G.S. Wilcox arranged the loan through an undisclosed life insurance company. The borrower was also not disclosed.
Atkins Cos. Completes Renovation of 70,140 SF Healthcare Building in Washington Township, New Jersey
WASHINGTON TOWNSHIP, N.J. — New Jersey-based Atkins Cos. has completed the renovation of a 70,140-square-foot healthcare building in Washington Township, about 20 miles south of Philadelphia. The project team converted a former fitness club into 33,000 square feet of clinical healthcare space on the ground floor and 7,000 square feet of leasable space on the second floor. All common areas were upgraded with new lighting, ceilings, flooring, paint/wallcovering, furniture and artwork. Atkins also upgraded building signage, entry points and security systems. Construction began earlier this year.
UNION, N.J. — JLL has negotiated the sale of an industrial outdoor storage facility in the Northern New Jersey community of Union. The property at 2461 Iorio St. features a service facility with a clear height of 15 feet, one loading dock, four drive-in bays and 2.5 acres of outdoor storage space. Jason Lundy, Marc Duval, Jordan Avanzato and Nicholas Stefans of JLL represented the undisclosed seller in the transaction and procured the buyer, New York-based investment firm Ridgecut Road.
BERKELEY, CALIF. — The University of California, Berkeley has completed Anchor House, a 772-bed residence hall for transfer students. The 14-story community spans 450,000 square feet and offers 244 units in studio, two- and four-bedroom configurations. Apartments are fully furnished and offer private bedrooms with built-in desks, full kitchens and in-unit washers and dryers. Shared amenities include a central courtyard with multiple outdoor terraces and balconies; outdoor space for work and gathering; maker space run by the Berkeley Art Studio, which hosts classes for students and the community; a culinary classroom and rooftop vegetable garden for the Rausser College of Natural Sciences; two event spaces with catering kitchens; and an 8,600-square-foot fitness center with a yoga and meditation room. The community offers flexible rent prices to help transfer students with low-income backgrounds and first-generation college students. The development team for the project included Morris Adjmi Architects, BDE Architecture, BCV Architecture, Andrea Cochran Landscape Architecture, PAE Engineers, BKF Engineers and Luma Lighting Design. The development was funded by philanthropic donations and opened ahead of the 2024-2025 academic year. The development team is also targeting LEED Gold certification for the property.
HIGHLANDS RANCH, COLO. — Century Living has completed the sale of Aventine Littleton, an apartment property in Highlands Ranch, a community about 18 miles south of Denver. Equity Residential acquired the asset for an undisclosed price. Terrance Hunt, Shane Ozment, Chris Hart and Brad Schlafer of CBRE represented the seller in the deal. Located at 2503 Primo Road, the five-building community offers 227 one-, two- and three-bedroom units averaging 1,028 square feet. The apartments offer stainless steel appliances, quartz countertops, smart-home technology and managed Wi-Fi, walk-in closets, full-size washers and dryers and roller shades. Additionally, select units offer balconies with views of the mountains and downtown. Community amenities include a fitness center, lap pool, hot tub, sunroom, outdoor community kitchen, clubhouse, conference room, workspaces, pet spa, storage units, 26 detached garages, 74 attached garages and 328 surface parking spaces.
PHOENIX — Lena Centers, a division of Boston-based Longpoint, has purchased El Monte Shopping Plaza, a retail property on 8.8 acres in Phoenix. Terms of the transaction were not released. Mindy Korth and JK Jackson of Colliers in Phoenix, along with El Warner and Caitlin Zirpolo of Colliers in Irvine, Calif., handled the transaction. Built in 1962, El Monte Shopping Plaza offers 101,269 square feet of retail space. At the time of sale, the property was 99 percent leased by ASI Real Estate with 15 destination-oriented tenants. Current tenants include El Rancho Market IGA, dd’s DISCOUNTS, Shoe Palace, ArchWell Health, Cute Smiles dentistry, Cricket Wireless and Baskin Robbins.
RIVERSIDE, CALIF. — Northmarq has arranged the sale of Westbrook Apartments, a multifamily property in Riverside. The asset traded for $18.6 million, or $332,000 per unit. The names of the seller and buyer were not released. Built in 2023, Westbrook Apartments offers 56 one- and two-bedroom apartments with modern kitchens, stainless steel appliances, quartz countertops and in-unit washers and dryers. Community amenities include a swimming pool, spa, fully equipped fitness center and covered parking. Shane Shafer and Peter Hauser of Northmarq’s Orange County Multifamily Investment Sales team represented the seller in the deal.
FREMONT, CALIF. — Sares Regis Group of Northern California (SRGNC) and TMG Partners have sold Capitol Square, a shopping property in downtown Fremont, for an undisclosed price. The name of the buyer was not released. The 21,000-square-foot Capitol Square is the fully leased retail component of Locale, a $100 million mixed-use project that was completed in spring 2021. Developed by TMG Partners, Sares Regis and Summerhill Homes, Locale includes 157 residences and retail space. KTGY served as architect for the development. Don LeBuhn, Rick Ryan and Dan Ward of Cushman & Wakefield brokered the transaction.
DANIA BEACH, FLA. — Affinius Capital has provided a $75 million loan for the refinancing of Soleste SeaSide, a 340-unit apartment community located at 4 N. Federal Highway in Dania Beach, a city in South Florida’s Broward County. Jonathan Schwartz, Adam Schwartz and Tom Melody of Walker & Dunlop arranged the financing on behalf of the borrower, The Estate Cos. The eight-story multifamily community features a mix of studio, one-, two- and three-bedroom apartments. Amenities include parking, a health club with a yoga/spin room, 12,800 square feet of retail space and a swimming pool with poolside cabanas and daybeds. Soleste SeaSide is situated close to Dania Pointe, a 102-acre mixed-use development, and the Hollywood Beach Boardwalk. The Estate Cos. developed the apartment community in summer 2023 in partnership with Merrimac Ventures.
CHICAGO — IPA Capital Markets, a division of Marcus & Millichap, has arranged a $56 million senior construction loan and $12.5 million in equity for the development of the first phase of Yorktown Reserve in Chicago. The apartment project, which involves the transformation of Yorktown Mall, will include 271 units. Frank Montalto of IPA Capital Markets secured the debt with a local bank and arranged the equity with an institutional investor. Chicago-based Synergy Development was the borrower.