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"castle "

NEWCASTLE ACQUIRES CVS PORTFOLIO FOR $30 MILLION

by admin October 16, 2009

PARK RIDGE, ILL. — Park Ridge-based Newcastle Properties has acquired a portfolio of CVS/pharmacy stores for approximately $30 million. The portfolio contains nine stores located in six states. They include: 542 Providence Rd. in Brooklyn, Conn.; 6202 Commerce Palms St. in Tampa, Fla.; 301 S. Sixth Ave. in Wauchula, Fla.; 4700 Piedmont Pkwy. in Greensboro, N.C.; 2902 Forestville Rd. in Raleigh, N.C.; 4 Hall St. in Concord, N.H.; 885 Central Ave. in Albany, N.Y.; 1571 Forest Ave. in Staten Island, N.Y.; and 1402 E. Lake Mead Pkwy. in Henderson Nev. The stores in the portfolio range in size from 12,900 to 13,225 square feet, and all of them are located on sites ranging from 1.21 to 2.98 acres. All are subject to 25-year, triple-net lease agreements. Newcastle acquired the portfolio on behalf of SVC Equity Partners LLC, one of its investment affiliates. Representation for Newcastle was provided by Jeffrey Gurian of Highland Park, Ill.-based Becker & Gurian. The seller was not disclosed. Newcastle's affiliates now own and operate approximately 3 million square feet of commercial real estate in 20 states. — Coleman Wood

October 16, 2009

NEWCASTLE ACQUIRES $10 MILLION RETAIL PROPERTY

by admin April 3, 2008

CHICAGO — Newcastle has acquired a 17,514-square-foot retail building, which is located at 801 West Diversey in Chicago’s Lincoln Park neighborhood, for $10 million. The single-story structure is 81 percent leased to a tenant roster that includes Dunkin Donuts, Back to Bed and Performance Bicycle Shop. It also includes 32 parking spaces. David Stone of Stone Real Estate represented Newcastle, as well as the undisclosed seller.

April 3, 2008

Industrial Midwest

CASTLE COCH DEVELOPMENT TO BREAK GROUND FOR 150,000-SQUARE-FOOT INDUSTRIAL

by admin March 28, 2008

LAFAYETTE, IND. — Castle Coch Development is set to break ground for the construction of a 150,000-square-foot industrial building located at 3701 Dave Howarth Dr. in the Park 350 industrial park in Lafayette. The building, which can be subdivided for up to four tenants, features 28-foot clear ceiling heights, dock-height, flow-thru loading, trailer and car parking spaces, an ESFR sprinkler system and office areas. The approximately $15 million project is also expandable up to 300,000 square feet. The project is being developed by Castle Coch, with JRA Architecture providing design services and Shiel Sexton Co. serving as general contractor. Completion is scheduled for October.

March 28, 2008

Civic Midwest

NEWCASTLE BROKERS $40 MILLION SALE FOR LOYOLA UNIVERSITY EXPANSION

by admin March 27, 2008

CHICAGO — Chicago-based Newcastle has brokered the sale of a surface parking lot owned by the YMCA of Metropolitan Chicago, as well as an adjacent four-story retail apartment building located at the corner of Chicago Avenue and State Street in Chicago, for $40 million. The building was sold by a third party and contains a retail component. The properties were acquired by Loyola University, which plans to use the combined 61,470-square-foot site for future expansion. Newcastle represented all parties in the transaction.

March 27, 2008

Midwest Multifamily

NEWCASTLE BROKERS $40 MILLION SALE FOR LOYOLA UNIVERSITY EXPANSION

by admin March 27, 2008

March 27, 2008

Midwest Retail

NEWCASTLE ACQUIRES $3.3 MILLION SHOPPING CENTER

by admin February 13, 2008

CHICAGO — Newcastle Ltd. has acquired Belle Plaine Plaza Shopping Center, a 16,000-square-foot retail property located at 4066 N. Milwaukee Ave. in Chicago, for $3.3 million. The center features two single-story retail buildings, which are fully occupied by Dollar Tree, Subway and AthletiCo Physical Therapy. Newcastle acquired the property from Midwest Real Estate Equities on behalf of the firm’s $500 million Chicago investment platform. Midwest was represented in the transaction by Tyler Quast of Zifkin Realty & Development.

February 13, 2008

Midwest Multifamily

NEWCASTLE ACQUIRES BELMONT HOUSE FOR $56 MILLION

by admin January 18, 2008

CHICAGO — Chicago-based Newcastle Ltd. has acquired the historic Belmont House, a 269-unit apartment tower located at 3170 N. Sheridan Rd. in the Lakeview neighborhood of Chicago, for $56 million. The 13-story, 315,000-square-foot building also contains 9,000 square feet of retail. The property was acquired by Newcastle from Wexenthaller Realty Management on behalf of the firm’s $500 million Chicago investment platform. The Belmont acquisition was part of an 896-unit, seven-property portfolio purchase from Wexenthaller; the other six buildings should close in the next 30 days. Newcastle was represented by The Kiser Group.

January 18, 2008

Midwest Multifamily

NEWCASTLE ACQUIRES $8 MILLION MULTIFAMILY PROPERTY

by admin January 14, 2008

CHICAGO — Chicago-based Newcastle Ltd. has acquired a three-story multifamily building, located at 2200 N. Clark St. in the Lincoln Park neighborhood of Chicago, for $8 million. The 29,546-square-foot building features 28 loft-style apartments and six commercial spaces. The property was acquired by Newcastle on behalf of the firm’s $500 million investment platform. Kiser Group represented the undisclosed seller.

January 14, 2008

Acquisitions California Multifamily Western

Bascom Group Acquires Value-Add Apartment Community in Buena Park, California for $53M

by Amy Works July 14, 2026

BUENA PARK, CALIF. — The Bascom Group has acquired Castlewood Park Apartments, a 183-unit value-add multifamily property in Buena Park, for $53 million, or $290,301 per unit. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta of Institutional Property Advisors (IPA), a division of Marcus & Millichap, arranged acquisition financing for the deal through Brightspire Capital. Kevin Green and Joe Grabiec of IPA represented the undisclosed seller in the deal. AMC will provide property management services for the community, while SD-Cap will oversee the planned property renovations. Originally constructed in 1963, Castlewood Park Apartments features 183 two-, three- and four-bedroom apartments, averaging 1,028 square feet, with garages for each unit and private yards for approximately 60 percent of the residences. Situated on 8.7 acres, the community features 46 buildings, two pools and a leasing center. Bascom plans to renovate the property with interior renovations, amenity enhancements and the addition of full-time on-site management to further improve the resident experience.

July 14, 2026

Affordable Housing California Development Multifamily Top Stories Western

Kennedy Wilson, Jamison Plan to Develop 4,000 Affordable Housing Units in Los Angeles

by Kristin Harlow July 1, 2026

LOS ANGELES — Kennedy Wilson and Jamison have entered into a joint venture partnership, with plans to deliver 4,000 affordable housing units across Los Angeles through adaptive reuse and ground-up construction projects. The partnership is between Jamison’s newly launched affordable housing division, Arden Residential, and Kennedy Wilson’s affordable housing development joint venture, Vintage Housing. The first project is the conversion of the former LA World Trade Center office complex at 350 S. Figueroa St. The 400,000-square-foot property will be transformed into 512 affordable housing units and renamed Sky Castle. Units will come in one-, two- and three-bedroom floor plans. Amenities will include community rooms, a dedicated coworking space, resident lounge, onsite storage, laundry rooms and mail parcel rooms. Development on the first phase of Sky Castle is expected to begin in August and will focus on the building’s concourse levels, creating 241 units for families earning between 30 and 80 percent of the area median income. Phase II, planned for the office tower above, will add 271 units. The City of Los Angeles has approved the project under its new adaptive reuse ordinance. “Together, we will develop thoughtfully designed housing for families, seniors and communities through both adaptive reuse conversions …

July 1, 2026

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