PORT ORANGE AND CASSELBERRY, FLA. — Walker & Dunlop has arranged $30.3 million in acquisition financing for the 296-unit Ocean Oaks Apartments, located at 1645 Dunlawton Ave. in Port Orange, and the 336-unit Reflections, located at 100 Reflections Cir. in Casselberry. Will Baker of Walker & Dunlop's Bethesda, Md., office arranged the 10-year loans with 4-years interest only, followed by a 30-year amortization schedule, through Freddie Mac's CME program.
SODDY DAISY, TENN. — Beech Street Capital has secured $3.36 million in acquisition financing for the 69-unit Blackberry Creek Apartments, located at 9516 Dayton Pike in Soddy Daisy. Chad Hagwood of Beech Street Capital's Birmingham, Ala., office arranged the 10-year loan with a 9.5-year yield maintenance payable on a 30-year amortization schedule through Freddie Mac's CME program.
ATLANTA — An Atlanta-based retail real estate services provider has expanded its reach to the northeast after merging with one of New York's top 10 retail brokerage firms. Northwest Atlantic Real Estate Services, best known as the Manhattan representative for Starbucks Coffee and Whole Foods, is joining The Shopping Center Group (TSCG), and will take the TSCG banner. The merger adds one office and 13 employees to TSCG. The firms decided to merge in order to broaden Northwest Atlantic's services into investment sales and landlord representation, and to give TSCG a foothold in the northeast, specifically New York. Headquartered in White Plains, N.Y., North Atlantic represents some of the strongest names in retail, including Costco and Staples. The firm completed more than half a million square feet of deals in the Northeast last year.
OMAHA, NEB. — An affiliate of Hyatt Hotels Corp. has purchased land in Omaha for the construction of a Hyatt hotel. The hotel is expected to open in 2014. Construction is expected to begin later this year. The Hyatt Place Omaha Downtown/Old Market will include 159 rooms in a nine-story building on the northwest corner of Jackson and 12th streets. The Chicago office of DLR Group is designing the building, which will be the first Hyatt hotel in Nebraska.
CRYSTAL LAKE, ILL. — Marcus & Millichap arranged the $3.2 million sale of a Harris Bank ground lease in Crystal Lake. The 87,120-square-foot ground lease is located on an outparcel to a Walmart Supercenter along Route 31. Jeff Rowlett and Jason Ladner of Marcus & Millichap's Milwaukee office represented the seller, an Illinois developer, in the transaction. The buyer was a private investor.
IMLAY CITY, MICH. — Rlandco has purchased a 72,500-square-foot industrial building at 611 Industrial Parwkway in Imlay City for an undisclosed amount. Joe Hamway of Signature Associates represented the seller, Windcrest Properties. He also represented Rlandco, which is expanding its operations in Michigan.
STAMFORD, CONN. — Edison, N.J.-based Mack-Cali Realty Corp. and Boston-based Winthrop Realty Trust have formed a joint venture to acquire a senior mezzanine loan position in a 1.7-million-square-foot Class A portfolio for $40 million. The multifamily portfolio is located in Stamford's central business district. The portfolio is secured by equity interests in a seven-building complex containing 1.67 million square feet of office space and 106 rental apartment units totaling 70,500 square feet.
NEW YORK CITY — Berkadia Commercial Mortgage has originated a $19.5 million mortgage loan through Fannie Mae to recapitalize an apartment property in Brooklyn. The 10-year, fixed-rate loan carries an interest rate of 4.18 percent. The 53,000-square-foot property is located at 475 Driggs Ave. and has been fully occupied since construction was completed in 2010. The building also includes 12,000 square feet of retail space on the ground floor. Stewart Campbell and Thomas Toland of Berkadia arranged the loan.
NEW YORK CITY — Fortuna Realty Group has sold a 57,000-square-foot mixed-use residential building in West Chelsea for $33.8 million. Azita Aghravi, Paul Nigido and Brian Ezratty of Eastern Conoslidated represented Fortuna in the transaction. The team also procured the buyer, who plans to rename the building Stonehenge 18 and update the apartments. The buyer also plans to reposition the building's retail component, which currently includes eight store fronts along Ninth Avenue. Built in 1939, the building is located at 364 W. 18th St. and consists of 64 apartments.
ROCKLEIGH, N.Y. — Spectra East has renewed and expanded its lease to 123,000 square feet at 8 King Rd. in Rockleigh. Spectra is a division of Fresenius Medical Care Holdings, an integrated dialysis company. Spectra, which uses the property as a testing facility, expanded its lease by 10,000 square feet. The building is owned by GHP Office Realty and a group of private investors.