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TRUMBULL, CONN. — NorthMarq Capital’s New York office has arranged $115 million in construction financing and a permanent mortgage for an expansion of the Park Avenue campus of Bridgeport Hospital in Trumbull, located 65 miles northeast of New York City. The 120,000-square-foot Class A facility will consist of a parking garage, as well as a three-story outpatient facility that includes three surgical suites, two lead-lined radiation treatment rooms, chemotherapy lounges, a phlebotomy lab, a radiology practice and a healing garden. Ernest DesRoshers and Deanna Polizzo of the New York office of NorthMarq arranged the transaction, a 25-year fully amortizing, private-placement bond deal with a set rate that may be lowered at a future time. The transaction provides for phased funding to minimize negative arbitrage as well as a free loan to the interest holder. NorthMarq arranged the financing with a credit tenant lease lender. “We were able to restructure the existing debt on the two pre-existing properties that will be connected by the to-be-built medical office building,” says Polizzo. Other amenities of the development include multiple entrances for patients for close proximity to doctors, skybridges and awnings to provide protection from the elements, and well-lit parking and entry areas.

NEW YORK — Greystone has provided financing for five multifamily properties in the Austin and Dallas-Fort Worth Metroplex areas in Texas totaling $59.3 million. The New York-based lender provided the acquisition financing through its Fannie Mae DUS platform. Robert Russell of Greystone originated the loans with 10-year terms and 80 percent loan-to-value (LTV) in two pools. The properties acquired, which total approximately 1,442 units, include: • Cypress Club in Arlington • Windsprint Apartments in Arlington • Hunters Cove in Grand Prairie • Arbors of Austin in Austin • Northgate Hills in Austin In the first two months of 2014, Fannie Mae recorded roughly $2.4 billion in multifamily lending volume. In all of 2013, the agency closed approximately $28.8 billion in loans. Greystone has been a Fannie Mae DUS lender for more than 15 years. Multifamily investors and developers are targeting apartment markets in major metros across Texas due to the state’s growing job market and population base. In the Fannie Mae Economic and Strategic Research’s report from November 2013, entitled “The Lone Star State Shines Bright,” Fannie Mae economists Francisco Nicco-Annan and Kim Betancourt write that the average annual job growth in the majority of the Texas metros is expected …

BAKERSFIELD, CALIF. — American Tire Distributors has signed a 20-year lease for more than 1 million square feet of space at the master-planned Paramount Logistics Park in Shafter, a city about 20 miles northwest of Bakersfield. The lease is valued at $119 million. The 1,625-acre logistics park, owned and managed by Roll Real Estate Development, is located at 5000 Capital Road. The new $65 million, built-to-suit facility will be situated on more than 45 acres and will include 10,000 square feet of office space. It will break ground this spring. American Tire has occupied a 176,500-square-foot industrial building at Paramount Logistics Park since 2007. The company had entered into a build-to-suit lease agreement with Roll Real Estate Development this past May for a 350,000-square-foot building within the park. American Tire recently restructured that lease, however, and tripled its requested space due to a consumer demand increase in the Western U.S. “American Tire's expansion in the Central Valley will significantly improve its capability to distribute to tire retailers quickly and more efficiently,” says Jason Gremillion, Roll Real Estate Development’s vice president of development. “Being located at the Paramount Logistics Park provides strategic access to customers throughout the western states, and they …

JERSEY CITY, N.J. — HAP Investments LLC has agreed to purchase 500 Summit Avenue, a development site at Journal Square in Jersey City’s central business district. The New York-based real estate investment and development company is planning to build a $400 million mixed-use building, to be known as HAP Tower, on the land. The project will include office, retail and multifamily space totaling approximately 1 million square feet. The land, nearly one acre, can accommodate a structure of up to 42 stories. The surrounding area, known as Journal Square as the home of the former Jersey Journal headquarters, is undergoing a city-sponsored redevelopment. HAP Investments paid $28 million for its site, according to The Wall Street Journal. “We are excited to have purchased this strategic site in Jersey City,” says Eran Polack, CEO of HAP Investments. “We look forward to building a future development that will provide new rental housing for local residents as well as others in the metropolitan area, in addition to adding needed office and community facilities to this thriving urban location.” “HAP Investments is also committed to sound environmental development, and to creating an open urban green space environment for this project,” Polack adds that the …

PHILADELPHIA — Cedar Realty Trust Inc. (NYSE: CDR) has acquired Quartermaster Plaza, a 456,000-square-foot retail property in Philadelphia, for $92.3 million, including the assumption of $53.4 million in fixed-rate debt. A publicly traded REIT, Cedar Realty will initially fund the purchase through the company’s credit facility, pending anticipated proceeds from asset sales. Constructed in 2004, the shopping center was 98 percent leased at the time of the sale and anchored by BJ’s Wholesale Club. With this purchase, Cedar Realty owns five shopping centers in Philadelphia totaling more than 1.3 million square feet, as well as the largest share of open-air retail space within the city of any publicly traded REIT. “We are excited about the acquisition of Quartermaster Plaza,” says Bruce Schanzer, president and CEO of Cedar Realty. “Our now dominant presence in the South Philadelphia submarket allows us to leverage our operating and leasing expertise to continue to serve the needs of this large and growing urban population.” Quartermaster Plaza is located on more than 43 acres and has already been approved for expansion of up to 98,000 square feet. The property is adjacent to South Philadelphia Shopping Center, a 283,000-square-foot, grocery-anchored center also owned by Cedar Realty. Other …

TUNICA, MISS. — Full House Resorts Inc. (NASDAQ: FLL) has entered into a definitive agreement to buy the 53-acre Fitzgerald’s Casino in Tunica from The Majestic Star Casino LLC for $62 million. Majestic Star, based in Indiana, filed for Chapter 11 bankruptcy protection in 2009, leaving the “Fitz Casino” available for purchase, according to the Memphis Business Journal. Las Vegas-based Full House, which owns five casinos in Nevada, New Mexico, Indiana and Mississippi, also purchased the Silver Slipper Casino in Bay St. Louis, Miss., in 2012 for $70 million. The Fitz Casino features 38,000 square feet of gaming space, including approximately 1,100 slot and video poker machines, as well as 20 table games. The site also includes a 506-room hotel with 68 suites, a fine dining restaurant, buffet, two casino bars and an 8,100-square-foot event center. “This transaction is consistent with our long-stated growth strategy,” says Andre Hilliou, chairman and CEO of Full House Resorts, “and we believe it will create long-term shareholder value. We believe we can leverage our knowledge and proven track record of managing properties catering to local customers to further improve the profitability of Fitz Casino.” According to a press release, Macquarie Capital was Full House’s …

NEW YORK — Meridian Capital Group LLC has arranged $200 million in acquisition financing for 530 Broadway, an 11-story, 194,500-square-foot mixed-use building in New York City. Meridian arranged the loan on behalf of the buyer, a joint venture led by Wharton Properties. Jeff Sutton, a prominent retail investor in New York City, is the founder and president of Wharton Properties. Ronnie Levine and Tal Savariego of Meridian Capital Group’s New York City headquarters office arranged the three-year loan through an unnamed national balance sheet lender. The loan features two one-year extension options. “530 Broadway not only has an irreplaceable location, but its sponsorship is uniquely positioned to execute a value-add strategy over time and capture additional upside from the asset,” says Savariego. 530 Broadway is located at the corner of Broadway and Spring Street and is composed of three interconnecting buildings. Eastern Mountain Sports leases the ground-level retail space at 530 Broadway. The asset, built in 1900, is located in Lower Manhattan’s SoHo neighborhood and across the street from 529 Broadway, where a venture between Wharton Properties, Aurora Capital Associates and Thor Equities is developing a 34,000-square-foot retail building. Meridian Capital Group is one of the nation’s largest commercial real …

GALVESTON, TEXAS — Texas A&M University at Galveston has selected Hunt Cos. to develop a $45 million cadet residence hall for students enrolled in its military programs. The 612-bed hall will feature two residential wings connected by an illuminated formation court. The wings will be designed to provide cadets direct access to leadership and centralized gathering locations. The facility’s adjacent commons will feature non-residential amenities, possibly including classrooms, office space, conference rooms, lounges and retail space. Construction is scheduled to begin during the second quarter of this year, and the project is slated for completion in fall 2015. “As a part of our overall business management strategy, the Texas A&M University System continues to seek innovative ways to gain access to private-sector capital, as well as expertise in delivering such construction projects in the most timely, efficient and cost-effective manner possible,” says Phillip Ray, chief business development officer of the Texas A&M University System. Hunt Cos. will act as the project’s designer, developer and builder. The development portion will be carried out by Hunt’s public-private partnership division. This is the first partnership between Hunt and the University System. “We are confident that this new partnership with Hunt Companies will enable …

WASHINGTON, D.C. — A public-private partnership between the District of Columbia and Hoffman-Madison Waterfront LLC has broken ground on the first phase of The Wharf, a $2 billion mixed-use development on Washington, D.C.’s Southwest Waterfront. This first portion of the project, valued at approximately $775 million according to the Washington Business Journal, will include 1.9 million square feet of residential, office, retail, hospitality, entertainment and public space. Slated for completion in 2017, Phase I will include more than 600 multifamily units, over 400,000 square feet of office space, a 150,000-square-foot music venue, about 200,000 square feet of retail space and two hotels comprising almost 700 rooms. The entire development, which spans 27 acres of land and 50 acres of waterfront, will total more than 3.2 million square feet of commercial real estate. City officials predict that The Wharf will have an even greater economic impact than other similar developments in the Mid-Atlantic region. “This is going to be beyond the Inner Harbor in Baltimore,” says Victor Hoskins, deputy mayor for planning and economic development in D.C. “This is going to be beyond National Harbor [in Prince George County].” The full development process will include three phases and entail the construction …

CINCINNATI — Phillips Edison–ARC Shopping Center REIT Inc. has acquired 15 grocery-anchored shopping centers for $261 million since the beginning of the year. The acquisitions added approximately 1.6 million square feet to Phillips Edison-ARC’s portfolio. The shopping centers expanded the REIT's presence in eight states: Georgia, Florida, Illinois, Kentucky, North Carolina, Texas, Virginia and Wisconsin. The acquisitions also added three new grocery anchors to the portfolio: Market Street, Martin's and Sweetbay. Including this acquisition, Phillips Edison-ARC's portfolio consists of interests in 98 shopping centers anchored by 31 leading grocers located in 23 states. “We are very pleased to acquire these grocery-anchored shopping centers, as they further diversify our portfolio by geography, grocery anchor, industry, lease expirations and credit,” says Jeff Edison, chairman and CEO of Phillips Edison-ARC Shopping Center REIT. “Our acquisitions velocity continues to grow as our acquisitions team harvests opportunities in our pipeline.” The acquisitions include: · Fairacres Shopping Center, anchored by Pick 'n Save in Oshkosh, Wis. · Savoy Plaza, anchored by Schnucks in Savoy, Ill. · The Shops of Uptown, anchored by Trader Joe's in Park Ridge, Ill. · Chapel Hill North, anchored by Harris Teeter in Chapel Hill, N.C. · a portfolio of two Martin's …