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.
The loan is for the financing of Westminster Village Arms, a 432-unit affordable housing complex in Lowell. The property includes 36 three-story buildings and a maintenance building that were constructed in 1970 and renovated in 2012. Amenities include a pool, basketball court, playground, business center, community room with a kitchen and onsite laundry facilities.
The firm purchased the 20,000-square-foot lot at 540 West 21st St. in Chelsea from Casco Development. Legion says the spot offers a good building oppourtunity since it's located in a heavily trafficked neighborhood. The sellers offloaded the site after plans for its own apartment building project fell through.
The company acquired Fleet Industrial Park, a distribution warehouse property at 6584 Fleet Dr. The 19-acre site includes 357,000 square feet across four 1970s-built warehouses and is fully leased to 21 tenants. The seller was the State Teachers Retirement System of Ohio, which acquired the property in 1993 for $12.5 million.
The company acquired the 24-story building at 7 St. Paul St. from Hertz Investment Group. The 508,714-square-foot skyscraper is 65% leased with an assortment of law firms and government offices. Built in 1985, the tower was previously named after and anchored by Wells Fargo, but they vacated the building during the pandemic.
A JV between Artifact Group and Blutrich Holdings secured the financing for its property at 255 NE First Street, dubbed Bayfront Parking Garage. The owners plan to redevelop the garage into either a mutlifamily building or hotel. The JV purchased the property in 2021.
The company acquired Fern Forest, a 184-unit apartment complex in Gastonia. Located at 1024 Ashwood Ct., the complex was sold for over $90,000 per unit by SkyREM. Northway Homes rebranded the complex as Northway at Fern Forest and will perform renovations.
The firm snapped up Linncrest Apartments at 1505 Pass-a-Grille Way, the seller being a private estate. Built in 1973, the three-story building features 21 units on a roughly 0.57-acre site. The complex includes two-bedroom, two-bathroom units, along with on-site laundry and 21 parking spaces.
The company sold the nearly 200,000-square-foot Boynton Logistics Center industrial park to Venture One Real Estate. Located at 1200, 1210, and 1230 SW 35th Ave., the "last-mile" business park is made of three buildings. The property last sold in 2020 for $25.85 million.
The retailer purchased the 17,121-square-foot building at 8323 Sand Lake Road in Orlando for $817 per square foot. The 2.57-acre property was sold to Unicorp for $2.75 million in 2013. Trader Joe's plans to use the building but did not specify plans.
The firm bought the vacant development site at 3047 Biscayne Boulevard from 3-H Group. Grupo previously acquired the five other lots that comprise the block in 2018 and 2019, resulting in a 1.4-acre site extending from Northeast 30th St. to Northeast 31st St. Grupo would not disclose its plans for the assemblage.
The firm purchased the 100,000-square-foot warehouse at 5100 Rex McLeod Dr. in Sanford from Beacon Partners. Bluerock says this is the company's 10th acquisition in the state. Beacon Partners bought the warehouse in October 2022 for around $4.3 million.
The company received a $173 million finance loan for 1812 N. Moore, a 540,000-square-foot office tower, and a $32.5 million finance loan for Shirlington Gateway, a 206,200-square-foot medical office property at 2800 Shirlington Road. The building at 1812 N. Moore St. features 480 parking spaces, fitness and wellness centers, meeting and event space, a conference center and lounge, and 11,000 square feet of retail space. Shirlington Gateway is a 12-story medical office building that was renovated in 2007 and has amenities including a new lobby, an updated fitness center, a cafe and five passenger elevators.
The financing loan is for nine industrial warehouse properties, totaling 824,546 square feet, in the South Fla. market. The properties are:
The developer acquired The Lincoln, an office building at 1691 Michigan Ave. in Miami Beach, and will spend $50 million revamping the building into a luxury office called "Class X." The building is 87% occupied and Black Lion plans to use the remaining space as its headquarters. The six-story building was built in 2003.
A JV between DelMonte Hotel Group and Rockbridge acquired the hotel from ARC Hospitality Providence. The Courtyard by Marriott in Providence includes 219 guest rooms and suites, a fitness center, and 3,000 square feet of meeting and event space.
The company bought the 117-room SpringHill Suites by Marriott Voorhees Mt. Laurel/Cherry Hill at 1031 Voorhees Dr. SHS Voorhees Hospitality sold the hotel for $89,316 per key. Located in Voorhees Township, the four-story property includes 117 rooms, a fitness center, heated indoor pool, business center and 375 square feet of meeting space.
The firm purchased roughly 218.7 acres off N.C. Highway 73 in the unincorporated community of Jackson Springs. The seller was Highway 73 Holdings. The vacant site is zoned for rural agricultural use, and the buyer did not disclose its plans for the purchased plot.
The company sold Performance Food Group @ Cardinal North, a 328,335-square-foot cold storage facility in Glen Allen, Va. The seller was Eaton Vance Real Estate Group. The cold storage asset occupies more than 59 acres at 10399 Washington HWY, and is located near Richmond International Airport and Richmond Marine Terminal.
New Tang Dynasty Television bought 129 West 29th St. in Chelsea. Samson bought the building in 2012 for $54 million from Thor Equities. The buyer plans to use the property for its own businesses.
The financing is for a 66-unit affordable housing project located at 170 Cottage St. in Chelsea. The building includes 11 three-bedroom units, 43 two-bedroom apartments and 12 one-bedroom residences, with a selection of units reserved for households earning up to 30, 50 or 60% of the area median income. The development also includes onsite parking and 15,000 square feet of open green space.
The company will use the loan to convert the 5.25-acre site located at 2444 Maple Ave. in Burlington, N.C. to an apartment community. The 131-hotel on site will be renovated into a 135 studio residential units. The apartment community will offer amenities, including a renovated swimming pool, fitness center, game room and storage space.
The city bought the roughly 880-foot stretch along Chalmers Ave., which was the site of the Central Park shopping plaza until 2018. The City of Buffalo plans to work with Arc Building Partners and BestSelf to build a 175-unit affordable apartment building on the stretch. The City of Buffalo will also help with maintenance of the road and the site when the building begins.
Preferred Materials sold the property for $166,271 per acre. The site last traded for $17.28 million in 2004. Florida Rock plans to use the site for mining purposes but may also develop the site for other uses.
The loan is for the refinancing of The Crosslands, a 529,212-square-foot retail center in Kissimmee, Fla. The borrower is a JV between Hampshire Cos., Federated Hermes and O'Connor Capital Partners. The retail center was built between 2014-2016 and is anchored by The Fresh Market, Burlington, Academy Sports, Hobby Lobby, Marshalls/HomeGoods and Ross Dress for Less.
The company acquired the portfolio of 3329 and 3331 St. Rd., which includes Two Greenwood Square and Three Greenwood Square in the Greenwood Square Corporate Center. Built in the late 1980s, the buildings total 106,575 square feet. Two Greenwood Square, located at 3331 Street Road, spans four stories and 81,575 square feet, and Three Greenwood Square, located at 3329 Street Road, is a two-story building with 25,000 square feet of space.
The company acquired a 10-unit multifamily property located at 321 W 16th St. in Chelsea for $8.1 million from Centennial Properties. The five-story building, constructed in 1905, includes a mix of one-, two-, and three-bedroom units. The buyer plans to execute renovations on the property.
The company sold its 10-unit apartment building in Manhattan's Chelsea neighborhood to TARGO Capital Partners. Built in 1905, the five-story building at 321 W. 16th St. houses a mix of one-, two- and three-bedroom units.
Venture One acquired Boynton Logistics Center, a 197,608-square-foot industrial campus in Boynton Beach, Fla., from Elion Partners. Located at 1200, 1210 and 1220 SW 35th Ave., the three-building property was previously sold for $25.9 million by Exeter Property Group. The facilities were built between 2000 and 2019 and are fully leased.
The loan is to refinance 425 Park Ave., its 47-story Manhattan office tower. The five-year floating-rate financing will retire a 2021 loan of the same price. Located in Manhattan's Plaza District and currently 90% occupied, the full-block building features a meditation center, outdoor terraces with lounge and dining areas and an amenity space.
The company bought the Oasis Club apartments at 5800 W. University Blvd. and the Magnolia Point apartments at 7507 Beach Blvd. Oasis Club, which sits on 11.5 acres of land, and the 15.4-acre Magnolia Point property, were let go by an undisclosed seller.
The refinancing loan is for Solamar Apartment Homes, a 210-unit built-to-rent community in Kissimmee, Fla. Completed in 2023, the property includes two- and three-bedroom townhomes that feature in-unit washers and dryers and ceiling fans, along with semi-private backyards for select layouts. Located at 1851 Encantado Way, common-area amenities include a swimming pool, pickleball court, fitness center, playground, gaming room and cyber cafe.
The REIT sold the 56,904-square-foot fitness center at 1000 N. Federal HWY to Maven Real Estate. The fitness center was built on the 5.3-acre site in 2015 and this is the first time it has sold.
The company sold its commercial condominium unit at 420 Fifth Ave. to EssilorLuxottica, an eyewear company. The 420 Fifth Ave. unit was originally developed in the 1990s by Hammerson Property Corp., and was bought by EssilorLuxottica in 2018. EssilorLuxottica will use the unit to expand its presence at 420 Fifth Ave.
The firm purchased a 28,000-square-foot industrial flex building in Acton, a northwestern suburb of Boston. The building, located at 364 Littleton Rd. was constructed in 1998 and was fully leased at the time of sale to tenants. The seller was Ryan Development.
The property at 380 N. U.S. 17 was sold by a JV between Great Expectations Realty and seller Amanda Arnett Edwards. The undisclosed buyer plans to build an industrial plant on the site. The vacant industrial property is located near railroad lines and backs up to an industrial park.
The company bought 1000 N. Mills Ave., a vacant lot which formally housed a car dealership. The property was sold by Shurlock LLC. Team Market plans to build either an entertainment venue or retail building on the site.
The company bought the 10,724-square-foot store from Rite Aid of New York. The buyer plans to lease the building to another retail chain, though no contracts have been signed yet. The seller, Rite Aid, shuttered the location in early 2024.
A JV between Silverstein Capital Partners and Rialto Capital Management will use the loan to refinance Dock Square Garage, a 698-space parking garage in Boston. Located at 20 Clinton St., Dock Square Garage spans an entire city block. The garage features nearly 700 parking spaces across six levels and includes 16,100 square feet of retail space that is available for lease.
The company picked up the sites at 8995 Collins Ave. and 9000 Collins Ave. from JMH Development. The seller abandoned plans to build residential units, resulting in the sale. Fort Partners did not divulge its plans for the sites.
The company acquired Tamarac Town Square, a 124,000-square-foot retail center in Tamarac, Fla. The seller, Regency Centers, has owned the property for three decades. Tenants at Tamarac Town Square include Dollar Tree, Goodwill and Retro Fitness, as well as a lineup of retail and medical services.
The company bought Greystone at Town Center, a 212,240-square-foot office park in Jacksonville, Fla. The seller was Taurus Investment Holdings. Located at 10550 Deerwood Park Blvd. and completed in 1999, the park comprises five single-story buildings with floorplates ranging between 34,000 and 50,000 square feet, along with 850 parking spaces.
The company sold the 72,919 square feet of warehouses at 1250, 1280 and 1310 S. Powerline Rd. to NorthBridge Partners for $248 per square foot. The warehouses last traded for $3.96 million in 2013. The warehouses were built on the 4.5-acre site in 1990 and are fully occupied.
The company bought the office building located at 311 Battleground Ave. from The Wrennovation Companies. The 12,561-square-foot office building sits on a 0.44 tract. 311 Evolve plans to lease up the building.
The loan will refinance a Manhattan office asset located at 28-40 W. 23rd St. The two-building complex totaling 578,105 square feet formerly housed a department store. The 12-story retail asset was originally completed in 1879 and 1901 and converted to office use in 1982. The loan will also be used to fund upgrades and renovations.
JMH Development sold the 25,171-square-foot lot along the ocean at 8995 Collins Ave. and a 8,250-square-foot lot across the street. JMH Development previously planned to develop the site but abandoned plans in 2023. Fort Partners did not divulge its plans for the site.
The developer bought the Fountain Oaks shopping center, located in Sandy Sperings, from Edens. Fountain Oaks, 98% leased by 38 tenants, was built in 1988 and renovated in 2003. Jamestown plans renovations to the shopping center.
The developer acquired a 16-acre site at Wilkinson Blvd. and Sam Wilson Rd. The site is made up of four parcels- 8501 Wilkinson Blvd. and 3900, 3940 and 4002 Sam Wilson Rd. The seller was Carolina Capital Real Estate Partners. Greystar plans to develop a multifamily building on site.
The company acquired 9.3 acres at 4801 N. Graham St. The site includes two buildings totaling 56,880 square feet, along with an outdoor storage element. The seller was Alterra Property Group.
The loan will refinance six Rhode Island multifamily properties - Riverbend Apartments in Cranston; Sparrows Point I, II, and III in Warwick; Scituate Vista in Scituate; and Meshanticut Vista in Warwick. Carpianato says the loan will be used to perform repairs. All properties are affordable housing.
The company purchased Blu South Townhomes, located at 920 Blu Central Rd. in Pineville, from Cornerstone Development. The development has three- and four-bedroom townhomes, single-family detached homes and duplexes across 75 acres. The units average about 2,280 square feet and amenities include a 15,000-square-foot clubhouse with fitness center, resort-style swimming pool, golf simulator, dog parks, pet spa, and pickleball and basketball courts.
The company sold an eight-building Raleigh medical office portfolio to two separate buyers. Evergreen Medical Properties acquired the seven buildings in the Rexwoods Office Center campus in West Raleigh and Northwood Ravin purchased a nearly 100,000-square-foot building next to the Research Triangle Park between Durham and Raleigh. Highwoods Properties developed and purchased the buildings between 1982 and 1998.
The loan is to refinance 594 Broadway, a 12-story, 250,000 square-foot office building in Manhattan. Built in 1898 as a department store, 594 Broadway was renovated into a mixed-use building with retail space and loft-like residential units. GFP Real Estate is set to perform a series of renovations later this year.
The company acquired a 152,500-square-foot office building at 1899 L St. NW in downtown D.C. The building previously sold for $43.7 million in 2004. The building, constructed in 1978, was sold by an undisclosed seller.
A JV between Charlotte Y. and C.W. Hendrix sold the 36.5 acres at 9584 Lake Worth Rd. The site includes farmland and a small house, both of which will be redeveloped by the buyer. The Hendrix family acquired the land for $1.63 million in 1998.
The company sold the empty lot at 112 Liberty St. to Hiwin Group USA. Hidrock originally planned to build a 20-story, 112,000-square-foot hotel on the lot, but abandoned plans for undisclosed reasons. The buyer did not disclose its plans for the site.
The company bought the 37,000-square-foot medical office property located at 9600 W. Sample Road in Coral Springs. The 5-story, 1978-built office building features a mix of office and medical tenants, but is not fully leased. The seller was Eden Sample.
Truly Nolen of America sold the office building at 1800 33rd St. in Orlando. The office building is 12,680-square-feet and sits on a 1.1-acre lot. The buyer plans improvements to the building on site.
The company bought the 5.4-acre parcel located at the intersection of Greenville Bvrd. SW and Frontgate Dr. in Greenville. The seller was Blue Max Rentals. The parcel, currently vacant, was previously a parking lot.
Page Management sold four of its Manhattan apartment properties to Derby. The sale included: