WEST ORANGE, N.J. — Cushman & Wakefield has arranged the $131 million sale of Edison Lofts, a 334-unit apartment building in West Orange, located in Northern New Jersey’s Essex County. Edison Lofts comprises two buildings: a 300-unit conversion of the historic Thomas Edison Battery Building and a 34-unit ground-up building known as The Mews at Edison Lofts. The property, which was 95 percent occupied at the time of sale, offers amenities such as a fitness center, indoor pool, resident lounges and outdoor gathering spaces, as well as 19,000 square feet of retail space. Niko Nicolaou, Ryan Dowd, J.P. Hohl, Michael Guerra, Kelly Kellett and Alexandria Russo Ebers of Cushman & Wakefield represented the seller, a partnership led by Prism Partners, in the transaction and procured the buyer, Sym Investments. John Alascio, Brad Domenico and Chuck Kohaut, also with Cushman & Wakefield, arranged a $91.7 million acquisition loan through New York Life in conjunction with the sale.
WARWICK, R.I. — Regional brokerage firm Atlantic Capital Partners has negotiated the $20.5 million sale of Midland Commons, a 160,448-square-foot shopping center located just south of Providence in Warwick. Tenants at the 23.2-acre center include Dick’s Sporting Goods, Burlington and Planet Fitness. Justin Smith, Chris Peterson, Sam Koonce, Danielle Turpin, Stephen Joseph, Stephen Hassenflu and Matt Ericson of Atlantic Capital Partners represented the seller and the buyer in the transaction. Both parties requested anonymity.
CHALFONT, PA. — An affiliate of local owner-operator Equus Capital Partners has sold a 52,622-square-foot surgical center in Chalfont, about 30 miles north of Philadelphia, for $12 million. The facility is located within New Britain Corporate Center and was fully leased at the time of sale to four tenants with a weighted average remaining lease term of 8.7 years. Doug Rodio, Jerome Kranzel and Bruer Kershner of CBRE represented the seller in the transaction. The buyer was Pruthi Properties.
NEW YORK CITY — Taft has signed a 16,563-square-foot office lease in Midtown Manhattan. The law firm will occupy the entire 24th floor of 1155 Avenue of the Americas, a 42-story building located between 44th and 45th streets. Sheena Gohil, Andrew Urban and Jack Senske of Colliers represented Taft in the lease negotiations. Tom Bow, Rocco Romeo and Nora Caliban internally represented the landlord, The Durst Organization.
GREENWICH, CONN. AND ANNAPOLIS, MD. — Realterm and Starwood Property Trust (NYSE: STWD) have provided a $672 million loan for an industrial outdoor storage (IOS) portfolio spanning 33 markets. The 78-property portfolio, which is owned by affiliates of Atlanta-based Stonemont and New York City-based Cerberus Capital Management, stretches 830 acres. Stonemont and Cerberus will continue to own and operate the properties. The proceeds will refinance an existing $486 million mortgage, return a portion of the money to primary investors and fund closing costs. Eastdil Secured Savills arranged the transaction. Additional details of the deal, including the portfolio’s location and tenant information, were not disclosed. The IOS sites support fleet parking, equipment storage and other logistics activities. According to the press release, the loan is recognized as the largest financing deal of its kind in the IOS sector. “This financing marks a significant milestone for our credit platform and underscores our ability to execute sophisticated solutions that drive industry-making deals,” says Paul Sisson, head of credit at Realterm. “Borrowers are continuing to seek lenders with a deep understanding of the industrial real estate and logistics sectors.” Realterm acquires, develops, finances and manages differentiated real estate and infrastructure assets serving global land, air, …
NEW YORK CITY — Cushman & Wakefield has arranged the $450 million sale of a four-property commercial portfolio located throughout the greater New York City area. The portfolio comprises existing multifamily, retail, healthcare and industrial buildings spanning roughly 4 million square feet, as well as multiple development sites totaling roughly 300 acres, in the following markets: East Fishkill, N.Y., Edgewater, N.J., Norwalk, Conn. and Yonkers, N.Y. Specifically, the portfolio includes iPark 84, a 270-acre, 1.8 million-square-foot industrial campus in East Fishkill that was originally built to be IBM’s flagship semiconductor manufacturing plant and can support another 1.5 million square feet of new development. Other properties within the portfolio include Edgewater Harbor, a 262-unit waterfront apartment complex with 60,000 square feet of retail space; a 400,000-square-foot mixed-use development in Norwalk that is anchored by a Northwell Health medical outpatient facility; and Trilogy Lofts, a newly constructed, 97-unit apartment building in Yonkers. Andy Merin, Frank DiTommaso and Ryan Dowd of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was a partnership between New York-based Saber-Hightower, Waterfall Asset Management and Dallas-based Lincoln Property Co. John Alascio, Alex Hernanez, Brad Domenico, Chuck Kohaut and Mitch Rothstein, also with Cushman …
KASER, N.Y. — Dwight Mortgage Trust, the affiliate REIT of New York City-based Dwight Capital, has provided a $55 million construction loan for a 104-unit multifamily project that will be located at 10 Ashel Lane in Kaser, about 40 miles northwest of New York City. The property will feature one-, two-, three-, and four-bedroom units and 45,000 square feet of ground-floor commercial space that will be home to a grocery store and urgent care clinic. Steven Hersko of The SHB Group arranged the loan on behalf of the borrower, Sky Equity Group. A tentative completion date was not announced.
NEW YORK CITY — Marcus & Millichap has brokered the $23.5 million sale of a 122-unit apartment building located in Brooklyn’s Midwood neighborhood. The doorman- and elevator-served building at 1000 Ocean Parkway was constructed in 1964 and renovated in 2021. Information on floor plans and amenities was not disclosed. Matt Fotis of Marcus & Millichap represented the seller, a local family, in the transaction and procured the buyer, Brooklyn-based FM Home Loans.
NEW YORK CITY — Ambassador Theatre Group has signed an office lease expansion and extension in Midtown Manhattan. The theater operator is essentially doubling its footprint to 19,380 square feet on the fifth floor of the 13-story building at 630 Ninth Ave., which is known locally as The Film Center Building. Rocco Laginestra of CBRE represented the tenant in the lease negotiations. Matthew Mandell of GFP Real Estate represented the landlord on an internal basis.
BOSTON — Oxford Properties Group has completed the acquisition of One Marina Park Drive, a Class A office tower located in the Seaport District of Boston. Oxford purchased the property from New York City-based Clarion Partners for $435 million. Clarion Partners reportedly acquired the tower in December 2019 for $482 million. Situated within the Fan Pier waterfront mixed-used development, One Marina Park Drive totals approximately 500,000 square feet across 18 stories. The LEED Gold-certified property was 99 percent leased at the time of sale to tenants in the venture capital, legal and financial services sectors. Boston Business Journal reports the office tower’s tenant roster includes MassMutual, Fish & Richardson, Gunderson Dettmer, Battery Ventures and The Fallon Co., which originally developed One Marina Park Drive in 2010 According to the company, this marks Oxford’s first acquisition of a stabilized core office asset in the United States in almost a decade. The company’s Class A office holdings in Boston now totals 3.2 million square feet. Since the beginning of 2025, the Toronto-based firm has deployed roughly $2 billion into the office sector globally. This comes after recycling $14 billion out of the office market between 2018 and 2022. “We continue to see compelling opportunities …
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