Property Type

105,000-SQUARE-FOOT VILLAGE MARKET OPENS ANCHOR TENANTS

by admin October 11, 2011

CHICAGO — The 105,000-square-foot Village Market, located at 333 Benton Pl. in Chicago, has opened its two anchor tenants — a 55,000-square-foot Mariano’s Fresh Market, and a 13,000-square-foot III Forks Prime Steakhouse. Additional tenants to open in 2012 include Maison A Brasserie, Eggy’s and Cuticle Nail Salon. Magellan Development Group and Hanwha Engineering & Construction were the joint venture developers on the project. Loewenberg Architects designed the property for LEED Silver certification and McHugh Construction built it.

October 11, 2011

MAPLEWOOD APARTMENTS SELLS FOR $2.25M

by admin October 11, 2011

CALEDONIA, WIS. — The 40-unit Maplewood Apartments, located at 3017 Six Mile Rd. & 6900 Middle Rd. in Caledonia, has sold for $2.25 million. Gordon Steimle and Susan Sardina of Milwaukee-based Ogden & Co. represented Maplewood Associates, the buyer, in the transaction.

October 11, 2011

Midwest Multifamily

NORTHMARQ SECURES $5.28M MULTIFAMILY LOAN

by admin October 11, 2011

OVERLAND PARK, KAN. — NorthMarq Capital has arranged $5.28 million in first mortgage financing for the 136-unit Bremerton Park, located at 6313 W. 75th St. in Overland Park. Greg Duvall of NorthMarq's Kansas City, Kan., office closed the 10-year loan with a 30-year amortization schedule through Freddie Mac.

October 11, 2011

Northeast Office

SKANSKA BREAKS GROUND ON $70M DEVELOPMENT IN KENDALL SQUARE

by admin October 11, 2011

CAMBRIDGE, MASS. — Skanska USA Commercial Development has commenced construction on a $70 million laboratory and office building, located in Kendall Square at 150 Second St. in Cambridge. The property has been pre-certified for LEED Gold certification. Boston-based Elkus Manfredi designed the property, and Jones Lang LaSalle will be the leasing agent.

October 11, 2011

Northeast Office

IZAKI GROUP BUYS OFFICE BUILDING FOR $49.7M

by admin October 11, 2011

NEW YORK CITY — Izaki Group Investments USA has purchased a 165,000-square-foot office building, located at 93 Worth St. in New York City's Tribeca neighborhood, for $49.7 million from World Wide Holdings. Vincent Carregam Yoav Oelsner, Charles Kingsley and Jason Meister of Grubb & Ellis' New York City office represented the seller. Izaki is planning on repositioning the property to be a high-end residential condominium building with a fitness center, children's playroom and lounge.

October 11, 2011

Multifamily Northeast

NONPROFIT OPENS $24.56M ROCHESTER AVENUE APTS.

by admin October 11, 2011

NEW YORK CITY — Concern for Independent Living, a nonprofit supportive housing provider, has opened the 65-unit Rochester Avenue Apartments in the Crown Heights section of Brooklyn in New York City. The nonprofit repositioned the former St. Mary's Hospital facility to house the apartment community. The cost to redevelop the property was $24.56 million, and the property's financing included $10 million in federal low-income housing tax credits, a $13 million NYS Office of Mental Health grant, a $900,000 grant from the Federal Home Loan Bank of New York in partnership with Astoria Federal Savings, a $6.5 million Bank of America Merrill Lynch construction loan and $13 million in permanent financing from CPC.

October 11, 2011

Multifamily Northeast

LOVE FUNDING PROVIDES $54.4M LOAN FOR PARKVIEW TOWERS

by admin October 11, 2011

WEST NEW YORK, N.J. — Love Funding has provided $54.4 million in refinancing for the 688-unit Parkview Towers, an apartment community in West New York. Laura Saull-Smith of Love Funding's Washington, D.C., office arranged the loan through HUD on behalf of the borrower, Parkview Towers LLC. The loan extends the property's contract for Section 8 status for 20 more years.

October 11, 2011

Multifamily Texas

CONTI ORGANIZATION ACQUIRES PARKSIDE VILLAGE FOR $11M

by admin October 11, 2011

CARROLLTON — Dallas-based CONTI Organization has purchased the 256-unit Parkside Village, a multifamily property located at 3022 N. Josey Ln. in Carrollton, for $11 million. CONTI is planning a $2 million renovation of the property's office, clubhouse and apartment units. Parkside Village was 89 percent occupied at the time of the sale. Michael Lewis and Andrew Porteous of Jones Lang LaSalle's Dallas office represented the seller, while Carlos Vaz and Stewart Hsu of CONTI handled the transaction in house.

October 11, 2011

Office Texas

SKYWALKER PROPERTY PARTNERS BUYS OFFICE COMPLEX IN GRAPEVINE

by admin October 11, 2011

GRAPEVINE — SkyWalker Property Partners has acquired the 58,860-square-foot Grapevine I and II, located at 3500 and 3600 William D. Tate Ave. in Grapevine, from CWCapital. The office complex is currently 48.8 percent leased. Renee Efimoff of SCM Real Estate Services' Arlington office represented the buyer, and Barney McAuley of Tricom Real Estate Group's Dallas office represented the seller.

October 11, 2011

Multifamily Texas

DISTRESSED APT. COMPLEX IN WICHITA FALLS SELLS

by admin October 11, 2011

WICHITA FALLS — Marcus & Millichap has brokered the sale of the 88-unit The Timbers Apartments, a distressed property located at 500 Fillmore St. in Wichita Falls. Mason Green and Boyan Radic of Marcus & Millichap's Fort Worth office represented both the buyer, a San Diego, Calif.-based limited partnership, and the seller, the original developer's family.

October 11, 2011

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