PARSIPPANY, N.J. — Colliers International has arranged leases of more than 26,000 square feet of office space in northern and central New Jersey. The transactions include The Western Institutional Review Board leasing 7,048 square feet at 202 Carnegie Center in Princeton. Kevin Coleman of Colliers International represented the tenant, and Boston Properties represented the landlord, Princeton 202 Associates Limited Partnership. Bryn Cinque and James Bailey of Colliers represented HNTB Corp. in its 7,026-square-foot lease at 1 Gateway Center in Newark. Advance Realty is the landlord of the property. Cinque, Bailey and Jay Kyle of Colliers International represented Crown Castle USA Inc. in its 6,451-square-foot lease extension at 1200 MacArthur Blvd in Mahwah. MRH Real Estate Services represented the landlord, Marcon Mahwah LLC. Cinque, Baily and Leslie Meril of Colliers International represented the landlord, Normandy Real Estate Partners, in its lease deal with HealthLogix at 99 Cherry Hill Road in Parsippany. Harlan Hollander of Cushman & Wakefield represented the tenant in its 6,223-square-foot lease extension.
CASTLE HILLS, TEXAS — Spencer Enterprises Ltd. has awarded Stream Realty Partners the leasing assignment for a 28,360-square-foot office property in Castle Hills, a suburb of San Antonio. The property is located at 1919 N.W. Loop 410. Carolyn Hinchey Shaw will serve as the leasing agent for the property. The office property has undergone upgrades recently, including enhanced landscaping and updated building entrances.
WOODBRIDGE, VA. — Meridian Capital Group has arranged $49.5 million in acquisition financing for a Woodbridge multifamily community. Misty Ridge contains 409 units and is located at 1989 Delaware Dr. Barry Lefkowitz of Meridian’s Iselin, N.J., office negotiated the loan, which carries a fixed interest rate of 3.49 percent and a 7-year term. The lender was Freddie Mac. The borrower was Castle Lanterra Properties.
JEKYLL ISLAND, GA. — Jekyll Oceanfront Hotel LLC has broken ground on the $41 million Westin Jekyll Island, a 200-room beachfront hotel that will open in September 2014 as part of the Jekyll Island Beach Village project. The property will be located at 110 Ocean Way, adjacent to the new 128,000-square-foot Jekyll Island Convention Center. The hotel will feature a full-service restaurant and green design elements. When complete, New Castle Hotels and Resorts will operate the property.
INDIANAPOLIS — Kite Realty Group Trust has acquired Castleton Crossing, a 280,000-square-foot shopping center in Indianapolis, for $39 million. The center is fully leased and is anchored by by TJ Maxx, HomeGoods, Burlington Coat Factory and Shoe Carnival. The shopping center is located near the intersection of I-465 and Allisonville Road. The property draws from a five-mile trade area with average household incomes of $87,600 and a population of 168,400.
INDIANAPOLIS — Greystone has originated a $34.6 million loan for Lake Castleton Apartments, a 1,261-unit multifamily apartment complex in Indianapolis. Greystone received a commitment from HUD insuring the Section 223(a)(7) FHA loan for Lake Castleton just 44 days from submission. The self-amortizing loan has a 35-year term. The property is located at 7601 Carlton Arms Drive. Josh Sasouness of Greystone’s New York City office originated the deal.
VICTORIA, TEXAS — Homewood Suites by Hilton has opened the 109-suite Homewood Suites Victoria, located at 6705 N.E. Zac Lentz Parkway in Victoria. Victoria Associates Ltd. owns the four-story hotel and Castle Hospitality manages it. The hotel offers studio, one- and two-bedroom suites, as well as a fitness center, pool, sports court, 24-hour executive business center and meeting space. The new hotel will be led by general manager Dagmar Gomez and supported by director of sales Christina Henry.
SAN ANTONIO — Stream Realty Partners has arranged a 10,504-square-foot office lease at One Castle Hills, a 157,521-square-foot office property located in San Antonio's North Central submarket. Following this lease, One Castle Hills is 79 percent leased. Ryan Harrison of Stream Realty represented the landlord in the lease transaction. Ben Crawford of Jones Lang LaSalle represented the tenant, Webster University. Webster is a Tier 1, private, nonprofit university with more than 100 campuses across the country. Stream Realty also provides on-site property management for the facility.
SAN ANTONIO — Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap, has arranged the sale The Manor at Castle Hills, a 306-unit apartment community located at 1835 Lockhill-Selma Road in the Castle Hills enclave of San Antonio. Will Balthrope, Scott Lamontagne and Drew Kile advised both the buyer and seller in the transaction.
LAWRENCE, KAN. – NorthMarq’s San Francisco office has arranged acquisition financing of $20 million for the Ironwood Multifamily Portfolio. The portfolio, which consists of four off-campus student housing properties near the University of Kansas, contains a combined total of 445 units. The student housing properties are Park West Gardens, Ironwood Court Apartments, Remington Square Apartments and Castle Rock Townhomes. Financing was based on a 7-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a national bank.