GEORGETOWN, TEXAS — Marcus & Millichap has brokered the sale of Georgetown Mini Storage, a 144-unit self-storage facility located on the northern outskirts of Austin. The facility was built in 1983 and spans 26,400 net rentable square feet of non-climate-controlled space. Jon Danklefs and Douglas Diffie of Marcus & Millichap represented the undisclosed seller in the transaction. Danklefs also procured the buyer, New York-based Merit Hill Capital.
NEW YORK CITY — Private equity firm Kriss Capital and New York-based investment group Corigin have provided $205 million in construction financing for a multifamily project that will be located at 26 E. 35th St. in Manhattan’s Nomad neighborhood. The building will rise 18 stories and house 137 condos. The financing consists of a $180 million senior loan from Kriss Capital and its Israeli partner, Klirmark Capital, and a $25 million mezzanine loan from Corigin. Max Hulsh, Max Herzog, Marko Kazanjian and Andrew Cohen of Institutional Property Advisors, a division of Marcus & Millichap, arranged the financing on behalf of the borrower, The Continuum Co. Completion is slated for 2027.
BRIDGEPORT, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has arranged the $9.9 million sale of Bridgeport Commons Apartments, an 86-unit multifamily property in southern coastal Connecticut. The two-building property was originally built between 1967 and 1970 and is located directly across the street from Bridgeport Hospital. The unit mix comprises nine studios, 73 one-bedroom apartments and four two-bedroom residences. Brad Balletto, Rich Edwards and Robert Paterno of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
FREEHOLD, N.J. — Marcus & Millichap has brokered the $4.7 million sale of a retail property in Freehold, an eastern suburb of Trenton, that is leased to 7-Eleven on a triple-net basis. The property consists of a 3,100-square-foot convenience store and a 12-pump fuel station. Alan Cafiero, Brent Hyldahl and Seth Goldberg of Marcus & Millichap represented the seller in the transaction. Mark Krantz and Derrick Dougherty, also with Marcus & Millichap, represented the buyer. Both parties were locally based investors that requested anonymity.
NEWARK, DEL. — CBRE has negotiated a 93,000-square-foot industrial lease in Newark, Del. The tenant is an undisclosed third-party logistics company, and the space is located within Building D of First State Logistics Park, a three-building, 1 million-square-foot industrial development that sits on a 149-acre site. Paul Touhey and Dan Rattay of CBRE, along with internal agents Mark Glagola and Tim Shaw, represented the landlord, Chicago-based Logistics Property Co., in the lease negotiations. The deal brings the park to about 75 percent occupancy.
MELVILLE, N.Y. — Northwell Health, the state’s largest provider, has signed a 19,162- square-foot office and healthcare lease in the Long Island community of Melville. Northwell plans to operate a pharmacy center and administrative offices within the 55,686-square-foot building at 40 Melville Park Road, which is owned by locally based firm Simone Development Cos. Darren Leiderman of Colliers represented Northwell in the lease negotiations. Simone Development was self-represented.
PETOSKEY, MICH. — Merchants Capital has provided $66.3 million in financing for the construction of Maple Block Lofts, a 204-unit workforce housing property in Petoskey, a growing vacation destination in northern Michigan. Merchants Capital provided a $29.6 million Freddie Mac Unfunded Non-LIHTC Forward permanent loan for the development, and its parent company, Merchants Bank, provided a $36.7 million construction loan. Maple Block Lofts is the first project in Michigan to receive the Michigan State Housing Development Authority’s Affordable Housing Tax Increment Financing, which accounts for $6 million of the $14 million in tax-increment financing being granted for the development. More than $12 million was provided in state grants and loans, with strong support from Michigan Economic Development Corp.; the Michigan Department of Environment, Great Lakes and Energy; the City of Petoskey; the Emmet County Brownfield Redevelopment Authority; and numerous local businesses. The project will feature seven garden-style apartment buildings with 18 studios, 72 one-bedroom units and 114 two-bedroom units. Fifty percent of the units will be restricted to residents who earn between 60 percent and 120 percent of the area median income (AMI). Ten percent of the residences will be income- and rent-restricted for those making less than 80 percent …
FISHERS, IND. — Noble Investment Group has acquired the Courtyard by Marriott Indianapolis | Fishers and the dual-branded Hyatt House & Hyatt Place Indianapolis | Fishers. The two newly built hotels are located within the Fishers District, a 150-acre mixed-use development in the Indianapolis suburb of Fishers. The seller and sales price were undisclosed. Noble is a real estate investment manager specializing in the travel and hospitality sector.
CHICAGO — Chicago-based Harrison Street has sold three senior living properties to Inland Real Estate Group for an undisclosed price. The assets include Clarendale of St. Peters in St. Peters, Mo.; Clarendale of Chandler in Chandler, Ariz.; and Clarendale at Indian Lake in Hendersonville, Tenn. Harrison Street developed the properties in a joint venture with Ryan Cos. and Life Care Services. The communities comprise 635 senior living units, and the portfolio was 92 percent leased at the time of sale.
CHICAGO — Fitness club Equinox has signed a 40,000-square-foot lease at 919 West Fulton in Chicago’s Fulton Market. Fulton Street Cos. is currently under development on the 375,000-square-foot, 11-story office building. Amenities will include a conference center, tenant lounge and ground-floor retail space. Harrison Street signed a 100,000-square-foot lease to anchor the property in October 2023. Completion is slated for March 2025. Equinox currently operates 109 clubs worldwide. Equinox Fulton Market will be the group’s fifth location in downtown Chicago.