The loan will finance the company's acquisition of the 655,500-square-foot Beltway Logistics Center in Bloomingdale. The seller was a JV led by the TPA Group. Beltway Logistics Center is situated on Jimmy DeLoach Parkway. The loan also covers three other unnamed purchases in Ga.
The loan will refinance Ray Philly, a 110-unit apartment building tha was built in early 2024. The loan borrower was a JV between Six Acre Capital and Ray, a family office. The apartment includes studio, one- and two-bedroom units and amenities such as a fitness center, rooftop garden and a coworking lounge with a kitchen.
A JV between Zar Property NY and HPNY has acquired a 57,000-square-foot office building located at 26-30 W. 61st St. in Lincoln Square. The property is fully leased to the New York Institute of Technology, which has 24 months remaining on its lease. The Brodsky Organization sold the building in an all-cash transaction.
An affiliate of Supreme Development Inc. and Petruzziello Properties bought the 44,000-square-foot plaza at 4 Washington St. from an unnamed family trust. The retail center, called Cobbs Corner Plaza, is nearly vacant save for a donut shop and a pizza place. The buyer plans to completely revamp the retail center to fill empty spaces.
The fast-food chain bought the shuttered Boston Market in North Raleigh at 9500 Strickland Rd. The seller was undisclosed. Cook Out plans to redevelop the shuttered market into a Cook Out restaurant location.
The company picked up the Budget Inn motel in Clarence, which it plans to demolish and replace with a car storage lot. The seller was Shriji Swami. The lot will have about 150 parking spaces, along with fresh lighting and landscaping on the site.
Related sold the 346-room hotel at 401 N. Fort Lauderdale Beach Blvd. to Blackstone Real Estate Advisors for $282,225 per room. Related bought the hotel for $140 million in 2014. Totaling 567,524 square feet, the hotel is managed by Marriott and includes five restaurants and a full spa.
A JV between H&M Development and Blue Vista Capital Management will use the loan to finance its facility at 2401 W. Okeechobee Rd. The JV acquired the property for $5.58 million in 2023 and is redeveloping the site into a 113,475-square-foot self-storage facility with three stories. Work on the site and facility will be complete by 2025.
The company purchased Millersport Garden Apartments from three companies - Summit Millersport I, Summit Millersport II and Summit Millersport III. The community features 24 three-bedroom units in total. The sale was an off-market deal.
The company paid $110.4 million for storage facilities in Queens and Brooklyn, which Safe N Lock Self Storage developed between 2018 and 2020. The four facilities range in size from 35,589 to 154,782 square feet and are occupied by Life Storage. The properties are located at 87-16 121st St. in Richmond, Queens and 145 18th St. in South Slope, 651 Utica Ave. and 1690 East New York Ave. in Brooklyn.
The financing loan is for Clarendon Hill Towers, a 501-unit building located in Boston. A JV between Connolly & Partners and the Clarendon Hill Towers Tenant Association said the financing will go toward improvements on the property, including accessibility upgrades and assorted repairs across the building. The loan will also help keep a portion of the units set aside for lower-income residents.
The company sold 194 E. Second St. to local investor Benchmark Real Estate Group. The building features six stories and runs 77,000-square-feet. The site also has a retail space that's fully leased. The building was constructed in 1997, replacing a shuttered gas station.
A JV between Bungalow Projects and Bain Capital acquired 145 Wolcott St. from Red Hook JV. The property, used in film production and content creation, includes a 225,000-square-foot facility with four 18,000-square-foot soundstages, several outdoor terraces, 82,000 square feet of production support spaces and 200 parking spaces. The JV did not divulge specific plans for the site, but may redevelop it into a mixed use building with residential and retail spaces.
The loan is to refinance a 109-unit senior housing center in Lower Manhattan. Located at 80 Rutgers Slip in Manhattan's Lower East Side, the 10-story building spans 84,000 square feet and was constructed in 1987. 80 Rutgers Slip is a mixed of senior independent and senior-assisted living units.
Natasha's Canal Co. sold the 85,138-square-foot industrial complex with eight narrow buildings at 7401 N.W. 68th St. The price equated to $206 per square foot. The property last traded for $2.97 million in 2009. The warehouses were developed on the 3.96-acre site in 1973.
The company sold the 2,800-square-foot retail building in Westchester County. The building sits on a half-acre site at 1444 E. Boston Post Rd. and was previously occupied by a reail bank. The buyer was Integrity 1444 BPR.
iCare Hospitality Greensboro bought The Clarion Pointe Greensboro Airport hotel at 7800 National Service Rd. The seller was PRBGP Hospitality, who purchased for property for $3.58 million in 2016. The building was constructed in 1998 and was renovated in 2020.
Crunch Fitness founder Doug Levine sold a trio of retail buildings, which together total 25,855 square feet and are located at 38 Northwest 24th St., 2324 North Miami Ave. and 2328 North Miami Ave. The portfolio is fully leased to assorted retail and entertainment venue outlets. Benaim does not plan to make any changes to the properties.
The company sold the 85,138-square-foot industrial complex with eight narrow buildings at 7401 N.W. 68th St. to Miami Palmetto Storage Property. The price equated to $206 per square foot. The property last traded for $2.97 million in 2009 with renovations made in 2023. The warehouses were developed on the 3.96-acre site in 1973.
Atlantis Management sold the 15,000-square-foot site at 3083 Webster Ave. The site features 100,000 buildable square feet of space for on-site development with air rights factored in. The seller previously planned to build a gas station on site.
The company purchased roughly 80 acres of land from The Associated Jewish Federation of Baltimore. The addresses for the site include 2343 W Belvedere Ave., 2401 W Belvedere Ave., 5001 Greenspring Ave. and 5101 Greenspring Ave. LifeBridge said they bought they land so it can execute its construction plans for the site more quickly.
The company acquired a restaurant and an adjoining retail parcel at 2401 and 2403 Wake Forest Rd from an undisclosed seller. The combo is located across the street from 2407 Wake Forest Rd., which Hanna already owns. The buyer plans to redevelop at least a portion of the retail outlet into a car dealership.
Bushburg bought the 1.2 million-square-foot office tower at 80 Pine St., and they're expected to convert a portion of it into residential units. The building was recently renovated to boost tenant numbers, but it remains 50% occupied.
The company bought the building, 222 Broadway St. from the asset-management arm of Deutsche Bank. TPG says it will partner with GFP Real Estate on potentially redevelopment the building. The building is 31% occupied, with floors two to 14 marketed as available to lease.
The loan will finance the 224,900-square-foot industrial building in Newark. The 12.2-acre site at 100 Frontage Rd. is fully leased to United Airlines. The building includes a clear height of 40 feet, 41 dock-high doors and parking for 130 cars and 38 trailers.
The loan is for the acquisition of 8200 Wisconsin, a 245-unit mixed-use complex in Bethesda. Part of the loan will go toward making 66 units at the complex affordable. Corner Lot plans renovations, including upgrades to common areas, the management office, and the fitness room, as well as reconfiguring units to add bedrooms.
The loan is to refinance the 144-unit Mi-Place at Brightmoor in Winslow Township, N.J. Amenities at the apartment include a clubhouse, pool and a fitness center.
The company bought a seven-story office building in Columbia Gateway from Franklin Center. Located at 6841 Benjamin Franklin Dr., the building is 56% leased to an unnamed tenant described as a "leading defense contractor." The 202,000-square-foot tower was built in 2008.
The Fulcrum building at 150 N. Orange Ave. was sold by a JV between Third & Urban and Federal Capital Partners. The seller recently spent $2.3 million in exterior improvements, $1.1 million in lobby renovations, $1.4 million in bathrooms and amenities and $1.5 million off additional renovation work. The 1.15-acre property, which began as a JCPenney store in the 1960s, includes 127,632 square feet of office space and 13,493 square feet of retail.
The company purchased the historic Genesee Gateway building, a 60,000-square-foot complex at the corner of Genesee St. and Oak St. The seller was Margaret L. Wendt Foundation. Seeburg did not divulge plans for the building.
A JV between Royal Palm Cos. and Mattoni Group are using the loan to finance Tuscany Village, a 420-unit multifamily development located at 4201 W. First St. in Orlando. Construction on the site is currently underway, with delivery expected for 2026.
The 888 Brickell Ave. building was sold by Alphatur. JDS plans to redevelop the office building into a Dolce & Gabanna-branded retail tower. The building last traded hands in 1984 for $6.3 million.
The company purchased the self-storage facility at 651 Utica Ave. in East Flatbush from a JV between Equity Resource Investments and SNL Construction. Carlyle did not divulge any plans for the 35,000-square-foot site, which sits between Winthrop St. and Clarkson Ave.
The firm has sold the retail center at 451 W. Ridge Pike to four buyers in separate transactions for a combined $12.5 million. Ridge Plaza was built in 2008 and sits at the intersection of West Ridge Pike and North Lewis Rd. The buyers for the center include an unnamed local investor, an unnamed local restaurantaur, an unnamed N.Y. investor and Phoenixville Federal Bank.
The company bought the 73,000-square-foot industrial building located at 6072 Cinderlane Pky. in Orlando. The seller was undisclosed and the sale was off-market. The facility was built in 1991.
The company bought Perry Village Plaza, a 12,000-square-foot shopping center located in Perry. An undisclosed seller sold the property for $2.6 million. Tenants at the center include T-Mobile, Verizon, Cricket Wireless, H&R Block and Smoke Shop.
The loan will refinance a 224,900-square-foot warehouse at 100 Frontage Rd. in Newark, N.J. The warehouse is entirely leased to United Airlines and located just outside Newark Liberty International Airport. Completed in June 2023, the warehouse has 40-foot clear heights, 41 dock-high doors, 130 car parking spaces and 38 trailer parking spaces on 12.23 acres.
The firm said it acquired Miramar Parkway Collection, which features four-office buildings consisting of 373,228 square feet of office space and is 79% leased. Starwood Investment Group was the seller, who paid $82 million for the buildings in 2015. Built between 2000 and 2006, the four buildings are Miramar Centre I at 3401 S.W. 160th Ave., Miramar Centre III at 3601 S.W. 160th Ave., Huntington Centre I at 2901 S.W. 149th Ave., and Huntington Centre II at 2801 S.W. 149th Ave.
The company acquired the five-building industrial park Cypress Park in Orlando, Fla. from Investcorp. The company acquired the industrial park in 2021 for $28 million. The fully occupied buildings were completed in three phases between 1987 and 1997. Cypress Park is situated at 9500-9901 Satellite Blvd. and includes 230 car parking spaces, a 100- by 100-foot truck court, loading doors, dock levelers and dock bumpers.
The financing is for its mixed-use office asset in Bay Ridge, Brooklyn, located at 502 86th St. The loan covers $14.7 million to pay off existing debt along with an additional $14.3 million for future tenant improvements and leasing commissions. ASQ says the property is fully leased to the New York-Presbyterian Hospital.
The company bought the Gables 12 Twenty One multifamily complex, in Rosslyn, Va., from Gables Residential for $44.5 million. The $27 million loan helped bridged the gap in financing the purchase. Located between 1200 North Queen St. and 1201 and 1225 North Pierce St. and built in 2009, the Alcott has an average unit size of 813 square feet and was 96% leased at the time of the sale.
Store Master Funding V sold Lakeview Health, a single-tenant drug and alcohol rehabilitation center at 1900 Corporate Square Blvd. The property includes two buildings, which were both renovated in 2016. The buyer was undisclosed.
The company sold its 4,500-square-foot retail building, located in Miami's Design District, to Dacra. The retail building is fully-leased. ASG said this is its third and final sale in Miami for the time being.
The loan is for the refinancing of a portfolio of five industrial buildings totaling 118,509 square feet in Philadelphia. Four of the buildings are contiguous, and the fifth is located less than a mile down the street. Thor Equities did not provide any further details.
The firm secured the financing loan for the redevelopment of the 151-year-old Sacred Heart Church and rectory in Fall River, Mass. The 37,850 square foot building located at 160 Linden St. will be converted into 46 market-rate apartments. The project, named Sacred Heart Lofts, is expected to be completed in Feb. 2025.
The firm bought the concrete plant next to Union Street Terminal, which it plans to redevelop into a mutli-family development. The development will be for low-income residents. The site will be cleared out of any structures before the redevelopment.
The organization sold its office building at 528 Waughtown St. in Winston-Salem. Goodwill Industries of Northwest N.C. said the sale includes just the office building and they will continue to own the rest of the property, including the Goodwill Retail Store. The building buyer was Zzirga Holdings.
The firm acquired two Rock Hill apartment communities, Mallard Pointe, a 360-unit complex at 2361 Eden Tce. and the 144-unit Deerfield Apartments on McGee Rd. The complexes were sold by W.O. Powers. The properties will be renovated as part of the acquisition.
A JV between Quadrum Global, Baron Property Group and Simon Development offloaded the development site at 45-40 Vernon Blvd. in Queens. The spot currently houses a derelict building, which the JV plans to demolish and replace with an apartment building. The sellers bought the site for $14.6 million in 2013.
The company sold the building located at 7300 ACC Blvd. to Royal Oak Realty Trust. Rise bought the building in 2022 for $18 million. The building, with 21-foot clear heights, nine loading docks, one roll-up door and several 6-ton cranes, is fully leased to a tenant with a 20-year contract.
The company bought Cape Fear Village, an 183-homesite manufactured housing community in Fayetteville, N.C. The property is 92% occupied. Located at 2620 Cattail Cir., Cape Fear Village includes 167 rented park-owned mobile homes, two resident-owned mobile homes, 13 vacant park-owned mobile homes and one vacant homesite. The all-age manufactured housing community features paved streets, off-street parking spots, a kids playground area, a clubhouse, recreational facilities and a swimming pool.
The firm bought 22 acres in Chester County with plans to build 89 townhomes on the site. Toll bought the parcels at 1130 and 1136 Horseshoe Pike from ELU Planebrook Guthriesville. Toll will begin development on the site in mid-2024 with plans to go live in 2025.
The University of Baltimore Foundation sold 1130 N. Charles after moving out of the building. The buyer plans to inhabit the building but did not divulge further plans.
Power Properties unloaded an eight-property, 2,164-unit portfolio with communities located in the Charlotte, Charleston, Greenville and Columbia area. The properties were delivered between 1990 and 2002 and the buyer will renovate all units and upgrade the amenity areas. The portfolio includes:
The company sold the 1 million-square-foot distribution center at 14490 Corporate North Rd. to 14490 Corporate Road, an affiliate of Hillwood. The price equated to $106 per square foot. The distribution facility was built on the 100-acre site in 2021, which Amazon leases.
A JV between BH Group and the Kolter Group bought a beachfront development site located in Naples, Fla. from Bahama Club Co-Op. Located at 1121 Gulf Shore North Blvd., the property is 2.5 acres with 220 linear feet of beach frontage. The buyer will build on the site.
The loan will finance Taurasi's project to convert a Hoboken five-story industrial building into a 110-unit multifamily complex. The multifamily building will rise nine stories, feature for-sale units and include 50,000 square feet of retail space and a 300-space parking garage. Units will come in one- through five-bedroom floor plans, and amenities will include a pool, fitness center, clubroom, lounge and grilling areas. Taurasi says the conversion will be complete in 2025.
The firm acquired the 382,720-square-foot property at 10000 Franklin Square Dr. from Realty Associates Fund. The complex was sold for $107 per square foot. This is the fifth time this complex has traded hands in two decades.
The company has refinanced Twin River Commons, a 127-unit, 371-bed luxury student housing community in Binghamton, N.Y. Harrison Street acquired the asset at 45 Washington St. in August 2021 for $36.9 million from OC Ventures. The 3-acre community, completed in 2012, consists of studio and one- to four-bedroom units. Common-area amenities include a redesigned clubhouse, new package lockers, fireplace lounge, fitness center, cafe and waffle bar, genius lab and study lounges.
A JV between The Chetrit Family and The Jay Group secured the loan to refinance their mortgage at Sunrose Tower, a Manhattan mixed-use multifamily apartment building. Located at 620 West 153rd Street in Harlem, Sunrise Tower features 238 units ranging from studios to two-bedrooms, of which 30% are affordable. The 2023-built building includes concierge service, a tenant lounge, a fitness center, a pet spa, a roof deck and 95 parking spaces.