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ATLANTA — Grandbridge Real Estate Capital’s seniors housing and healthcare finance team in Atlanta has facilitated the $136.1 million sale of four independent living seniors housing properties, as well as closing a $100 million first mortgage loan secured by the properties. The independent living facilities in the portfolio include: Town Village Tulsa, a 198-unit facility in Tulsa, Okla.; Town Village Vestavia Hills, a 221-unit facility in Vestavia Hills, Ala.; Town Village Sterling, a 222-unit facility in Sterling Heights, Mich.; and Town Village Audubon Park, a 175-unit facility in Memphis, Tenn. Richard Thomas, senior vice president of Grandbridge, originated the transaction on behalf of the borrower, Focus Healthcare Partners LLC. Fannie Mae provided acquisition financing through its structured adjustable-rate mortgage loan product, which features a 10-year term and 30-year amortization schedule with interest-only payments for the first five years. After the first year, the borrower has the option to convert the adjustable-rate loan to a fixed-rate loan with no pre-payment charged for the conversion. Integral Senior Living will manage all four properties. The facilities provide residents with numerous amenities such as common areas that include craft/multi-purpose rooms, billiards/game rooms, meeting rooms, libraries, exercise rooms, card rooms, computer rooms, hair salons, banking …

LOS ANGELES — Los Angeles Jewish Home has begun construction on the $100 million Fountainview at Gonda West Los Angeles Westside Campus. The 460,000-square-foot continuing care retirement community will be located at 12025 E. Waterfront Drive in the West Los Angeles submarket of Playa Vista. Fountainview at Gonda will provide more than 500 Westside seniors with a full range of active living, healthcare and in-home services. It will contain 175 apartment units for independent living, as well as 24 assisted living and memory care. In-unit amenities will include full kitchens, washer, dryers and terraces. Some of the larger units will also contain dens and media rooms. The one- and two-bedroom units will range in size from 840 square feet to 2,380 square feet. Pricing will begin in the mid-$500,000s, according to Playa Vista’s website. Los Angeles Jewish Home is developing the seniors community. C.W. Driver is building the project and Gensler is designing the new facility. Fountainview at Gonda is scheduled for completion in 2016. “As the Baby Boomer generation begins to downsize their current living situation, they look for specialized communities that can offer amenities to match their current lifestyle,” says Mike Byrne, C.W.’s senior vice president. “This is …

PINE BROOK, N.J.– Meridian Capital Group LLC has negotiated $100 million in acquisition financing for the purchase of the Rachel Gardens apartment complex located in Pine Brook, N.J. on behalf of Cammeby’s International Group. The 12-year Fannie Mae loan was provided by Capital One Multifamily Finance and features a fixed interest rate below 4 percent and interest-only payments for the first six years, followed by a 30-year amortization schedule. Abe Hirsch, Zev Karpel and Akiva Friend of Meridian’s New York office negotiated the transaction. Rachel Gardens was built between 1989 and 1999 and totals 32 three-story buildings with 764 units. The property is located at 67 Chapin Road near U.S. Routes 46, 80 and 280, providing access to New York City and New Jersey. “This was an example of the kind of results that are possible when you bring knowledgeable parties to the table,” says Grace Huebscher, president of Capital One Multifamily Finance. “Our agency financing team, Fannie Mae, Meridian and the sponsor worked seamlessly together, and I believe all are pleased with the outcome of this transaction.” Founded in 1991, Meridian Capital Group is a commercial real estate finance and advisory firm. Meridian arranges financing for transactions ranging from …

JACKSONVILLE, FLA. — A joint venture between Crocker Partners and New York-based Investcorp has acquired 12 buildings within the Flagler Center business park in Jacksonville for $133.2 million. With the acquisitions, the two companies have added nearly 1.4 million square feet to their Florida portfolio. The transaction includes the newest Class A office and industrial space in Jacksonville’s Butler/Baymeadows submarket. “This was a rare opportunity to acquire a dozen buildings across three product types at a significant discount to replacement cost,” says Tom Crocker, founder and managing partner at Crocker. “Jacksonville is a very attractive market, and Flagler Center has the potential for significant return as we apply our asset and property management expertise.” Overall, Crocker Partners’ holdings at Flagler Center, which is located a mile from the I-95/I-295 interchange, includes 601,168 square feet of Class A office space; 399,618 square feet of two-story professional office space; and 357,642 square feet of industrial space. The buildings are 81 percent occupied. Lead tenants include Web.com, Ally Financial and Kemper Insurance. Crocker Partners owns a total of 2.1 million square feet in Jacksonville. In total, the Boca Raton-based real estate investment firm now owns and manages 8.4 million square feet in the …

CHICAGO — Brennan Investment Group and a client of Arch Street Capital Advisors (Arch Street), a Greenwich, Conn.-based real estate investment advisory firm, have formed a joint venture to own and manage a portfolio of industrial properties throughout the United States. The joint venture will have a purchasing capacity of $300 million. According to a news release, the joint venture will focus on purchasing individual industrial assets in major markets in the United States that are critical facilities to tenants and leased on a long-term basis. “We are pleased to launch this venture at a time when we see opportunities to invest in mission-critical facilities throughout the country,” says Michael Brennan, chairman and managing principal of Brennan Investment Group. “The objective of the venture's investment criteria remains the same: generate strong risk-adjusted returns, derived from both cash flow and appreciation.” In conjunction with the creation of the venture, PNC Bank NA provided the venture with a financing line of credit facility to increase the venture's efficiency in closing purchases. Also simultaneous with the venture's formation, the Brennan/Arch Street venture acquired its first assets, a three-building 174,170-square-foot industrial complex in Hamilton, Ohio, near Cincinnati, leased to Matandy Steel and Metal Products …

DALLAS — HFF (NYSE: HF) has closed the sale of a 12-property SunnyBrook seniors housing portfolio totaling 680 units located across Iowa. HFF marketed the property on behalf of the seller, SunnyBrook Senior Living. American Realty Capital Healthcare Trust II (ARC) purchased the assets for $164.2 million, which represents a cap rate near 7.2 percent based upon 2014 pro forma financials. A 13th asset is under contract and will close at a later date. The housing in the portfolio was built between 2003 and 2009, with 544 assisted living units and 136 memory care units featuring studio, one- and two-bedroom floor plans. The properties are located in Burlington, Carroll, Fairfield, Fort Madison, Mt. Pleasant, Muscatine, Cedar Rapids, Clinton, Des Moines, Independence, Ottumwa and Tipton. Average occupancy of the buildings was 93 percent at the time of close.Ryan Maconachy and Chad Lavender with HFF represented the seller. Whit Roberts and Janis Loegering with the Dallas office of Locke Lord LLP provided legal representation for SunnyBrook. Taylor Pancake with the Orlando office of law firm Foley & Lardner represented ARC. “The SunnyBrook Portfolio represented a great opportunity for ARC and their new operating partners for this portfolio, Provision Living and Frontier Management, …

TALLAHASSEE, FLA. — A joint venture between Calidus, Pebb Capital and Pragma Investments has acquired 3,155 beds near Florida State University (FSU) in Tallahassee for $43.5 million. The university is located at 600 W. College Ave. The beds are situated throughout four complexes surrounding FSU. The City of Tallahassee contains more than 70,000 students. There are about 10,000 on-campus student beds, and about 30,000 off-campus beds set aside for students. The joint venture, known as Collegium Capital Partners, plans to carry out a multi-million-dollar renovation at the properties. “This acquisition will bring the Collegium student housing portfolio to approximately 6,000 beds with three additional closings scheduled for the second half of this year,” says Todd Rosenberg, Pebb’s CEO. “Our plan is to help Collegium achieve its goals with a sophisticated, dedicated capital source to grow its holdings into one of the largest privately held student housing portfolios in the country.” Peak Campus Management will manage the beds. CCRE, an affiliate of Cantor Fitzgerald, provided the acquisition financing. “This acquisition not only makes us one of the largest student housing providers in the Tallahassee market, it also is indicative of our willingness to tackle extremely complicated value-add projects,” says Benjamin Macfarland, …

NEW YORK CITY— Meridian Capital Group LLC and Eastdil Secured have arranged $700 million in CMBS financing for the purchase of the leasehold position in New York City’s Mobil Building. The property is located at 150 E. 42nd St. The financing was arranged on behalf of a partnership that includes David Werner and Mark Karasick. Morgan Stanley Mortgage Capital Holdings LLC provided the 10-year, fixed-rate, full-term interest-only CMBS loan. The financing allowed the borrower group to acquire the leasehold interest in the Mobil Building from Hiro Real Estate LLC, which acquired the leasehold in 1987. In conjunction with the acquisition, the Goelet family, who holds the fee position, extended the lease to run for 99 years. The Mobil Building, a recognized jewel in the Manhattan skyline, is a 42-story, 1.8 million-square-foot Class A office tower. Harrison & Abramovitz designed the building, which was constructed in the 1950s. The property features a stainless steel façade. Tenants include the New York headquarters of Wells Fargo & Co. and the Mount Sinai Health System. ?? Founded in 1991, Meridian Capital Group LLC is a commercial real estate finance and advisory firm. Meridian is headquartered in New York with offices in New Jersey, Maryland, …

NEWTON, MASS. — The board of directors of Select Income REIT (NYSE: SIR) has unanimously approved a definitive merger agreement to acquire Cole Corporate Income Trust (CCIT) for approximately $3 billion. CCIT will provide SIR with 64 office and industrial properties with approximately 16.1 million rentable square feet. As part of the transaction, SIR has entered an agreement to sell 23 of CCIT’s healthcare properties to Senior Housing Properties Trust (NYSE: SNH) for approximately $539 million. The transaction will be payable in a combination of cash and SIR common shares, plus the assumption of approximately $298 million of mortgage debt. The merger is subject to approval by SIR and CCIT shareholders and is expected to close during the first quarter of 2015. Among the CCIT properties that will become SIR’s are distribution centers for Amazon.com and headquarter facilities for companies such as Tesoro Corp., Noble Energy Inc., F5 Networks, United Launch Alliance and Compass Group PLC. The purchase of CCIT’s portfolio will expand SIR’s footprint from 21 U.S. states to 35 states. The percentage of rental income from the combined company’s top five tenants will decline from 28 percent to 18 percent. The combined company will have an increased weighted …