The Arlington Partnership for Affordable Housing purchased Falkland Chase, a 170-unit apartment community, to turn into 1,250 units of affordable housing. The existing 170 apartments will be leased at rents affordable for residents earning 60% to 65% of the AMI upon vacancy or turnover. JBG Smith was the seller in the deal.
The 172,849-square-foot office building, One Heritage Drive, is fully leased to Granite Telecommunications. The five-story building will undergo renovations in 2023.
Philip Levine, the former mayor of Miami Beach, sold The Whale & Star property, a collection of buildings in Wynwood. Whale & Star Wynwood purchased the 27,406-square-foot assemblage. Located on NW First Place between Northwest 22nd and 23rd streets, the land is zoned for a hotel with 265 to 388 rooms or a multifamily unit with 132 to 194 units. The buyer plans to build a hotel with over 300 rooms.
American Dream Hotel purchased the Northern N.J. hotel, Meadowlands View Hotel. The hotel has been closed since the pandemic and the 12-story, 250-room property may be renovated or repositioned.
The county plans to use the tower at 305 Washington Ave. in Towson, Md. as workspace. The 53,000-square-foot tower is six stories.
An undisclosed buyer purchased the Lodge Restaurant and Bar's property at auction. The 1.36-acre property at 2119 Conowingo Rd. includes the restaurant, an outdoor patio and parking for 42 cars. The previous owner was 2119 Conowingo Rd.
The Rockville community, Huntington at King Farm, has 402 one-, two- and three-bedroom units at 100 and 200 King Farm Blvd. The parcels total 12.7 acres and houses apartments and townhouses.
The 140,000-square-foot office building includes 30,000 square feet of retail space and has been primarily vacant since its anchor tenant, Starwood Capital, left in 2022. Nightingale Properties sold the eight-story building, Lincoln Place, which is located at 1601 Washington Ave.
Landmark Cos. sold the two Miami communities, Sunrise Commons and Malibu Gardens. The Low-Income Housing Tax Credit communities total 365 units and will maintain their affordability. Malibu Gardens is located at 13800 S.W. 268th St. in Naranja, Fla. and includes 259 one-, two-, three- and four-bedroom units, a swimming pool, clubhouse, laundry facilities and 520 parking spaces. Sunrise Commons is located at 26600 S.W. 146th Court in Homestead, Fla. and includes 106 one-, two- and three-bedroom units, a fitness center, business center, clubhouse, laundry facilities and 160 parking spaces.
Intracoastal Plaza, a 966,421-square-foot property, is located at 14444 Beach Blvd. in Jacksonville. The Publix-anchored center is comprised of six buildings that total 183,674 square feet. Planet Fitness and Greenberg Dental & Orthodontics are among the center's other tenants. Intracoastal Plaza LLC purchased the shopping center and a 35,000-square-foot building at 14420 Beach Blvd. occupied by Fifth Third Bank.
The N.Y.-based investment firm purchased the 119,089-square-foot building from Nessel Development. The two-story building at 5 Paragon Drive sits on a 16.5-acre site and includes a cafeteria and fitness center. The building is 76% leased.
The 176-unit Greensboro property, Cottage Gardens, includes 19 one- and two-story buildings. Apartments range from 520 to 780 square feet and are available with one-, two- and three-bedrooms. The 14.4-acre property is located at 307 Avalon Rd.
An undisclosed private investor purchased the multifamily property in the Bronx. Located at 988-992 Boston Rd., the 31-unit property includes two five-story buildings. An ajoining, undeveloped lot was also included in the sale.
The company sold Malibu Gardens and Sunrise Commons, both affordable housing properties, to Lincoln Avenue Communities. Both projects are restricted to people making up to 60% of area median income. Located at 13700 S.W. 268th Street in Naranja, Malibu Gardens has 259 apartments and sold for $39 million, and the 106-unit Sunrise Commons is located at 26600 S.W. 146th Court in Homestead and sold for $15.25 million.
Bridge Investment Group sold Windrift, the 288-unit Orlando property at 949 Crowsnest Circle. Amenities include a fitness center, playground, green space and a swimming pool in the common areas and open-concept floor plans, washers, dryers and screened patios in each unit. Apartments are available with one- and two-bedroom units.
The Lambert's Rainbow Market stores in Dorchester and Westwood were sold by the Lambert family to entities with a Cadillac dealership in Norwood. The Dorchester location and plaza sold for $10 million to Dorchester Realty Ventures and the Westwood store and plaza were acquired by Westwood Realty Ventures for $12.8 million.
The company sold the 94-unit apartment complex at 2405 N.W. 135th St. for $16.87 million and the 18-unit apartment complex at 2621 N.W. 135th St. for $3.23 million. The buyers were 2405 NW 135th Street and 2621 NW 135th Street, respectively. The 94-unit apartment complex was built on the 1.83-acre site in 1969 and 18-unit was built in 1967 on a 16,102 square foot lot.
Related bought the 65,908-square-foot center, Ocean Walk, from Pebb Capital. The 10.5-acre property at 2401 N. Ocean Ave. consists of four buildings, 490 parking spaces and 873 square feet of oceanfront. The retail center is 100% leased and tenants include 7-Eleven, Subway, USPS and Wings Beachwear.
Two80 Real Estate purchased the apartment building at 720 W. 172nd St. in Manhattan's Washington Heights neighborhood. The property has 32-units.
A three-story Framingham, Mass. apartment complex, Grant Street Complex, changed hands in a deal with an unidentified buyer and seller. The property has 26 one-, two- and three-bedroom units, 25 parking spaces and four townhouse garage spaces. The complex is located at 115 Grant St.
The 16-story, 222,757-square-foot building was sold by PGIM Real Estate. Located on a 1.19-acre lot at 335 Alhambra Circle, the office tower includes a seven-story parking garage.
The 70% occupied apartment community, Kelby Farms, was sold by a partnership that includes Woodfield Development. Located in Durham, the community includes 277 one-, two- and three-bedroom units. The property includes a pool, fitness center, workstations and game lounge.
The Coral Springs, Fla. development will include 351 apartments and 17,329 square feet of retail space in its first phase and 353 apartments and 32,280 square feet of retail in its second phase. The project, Modera Coral Springs, is located within Cornerstone at Downtown Coral Springs at 3310 University Drive. The 7-acre site will also include a Hyatt hotel, retail shops and restaurants.
G.S. Wilcox arranged the loan for undisclosed borrower to refinance the East Farmingdale property. The 6.9-acre lot includes four buildings totaling 34,877-square-feet of retail space.
A limited liability company acquired the 10,125-square-foot property in Norton, Mass. Built on a 1.5-acre property, the building is leased to CVS.
James Cormier bought 137 acres of land at 55 Winkler Rd., 120 North Rd., 173 North Rd. and two unnumbered North Rd. lots to build retail and residential buildings. Development plans include apartments, townhomes, single-family homes and commercial buildings.
Synergy Hospitality Management secured a $43.6 million loan to refinance the Hampton Inn hotel near LaGuardia Airport in Queens, N.Y. The 220-room hotel was opened in 2009 and features a business center, fitness center and meeting rooms. Synergy will use a portion of the financing to fund capital improvements.
The Trinity Medical Arts Building received a five-year, $21.8 million cash-out refinancing and the Poinciana Medical Arts Building secured a $7.9 million loan. The properties are part of Florida Trinity Hospital and Poinciana Hospital campuses. The 90,000-square-foot Trinity Medical Arts Building came online in 2011 and the 42,000 square foot Poinciana Medical Arts went live in 2013.
An entity affiliated with Blackfin Real Estate Investors purchased an apartment complex in the Charlotte suburb of Pineville from an entity affiliated with The NHP Foundation. The Pines at Carolina Place, which was built in 1997, features 200 units and is located about one mile from Carolina Place Mall.
BGBH acquired the Parkview Senior Apartments in Cheektowaga N.Y. from Sterling Associates. The property, located at 2911 William St., is comprised of 46,000 square feet and has been owned by Sterling since 2007.
The company bought 22 acres within Jacksonville's downtown area to develop a $2 billion mixed-use project. The first phase of the project is called the Pearl Street District, which will include over 1,000 multifamily units and 120,000 square feet of grocery-anchored retail space. The cost of phase one is expected to be approximately $500 million and will be live in 2024. Gateway Jax plans to include office, hotel and green corridors.
The multifamily developer purchased a 7-acre parcel of land in Charlotte's NoDa arts district. The property is located at 3035 N. Tryon St., where Embry plans to build a four-story, 403-unit multifamily building. The project will include one- and two-bedroom units, with amenities such as a clubhouse with a game room, a business center with micro-offices and a conference room, a fitness studio, yoga room, outdoor grilling areas, outdoor gas fireplace and resort-style pool.
CRP/Maple 8300 Park Owner, an affiliate of a Trammell Crow Residential and Carlyle patnership, sold its 368 apartments at 8300 Park Blvd. to MP Park 82nd, part of Stockbridge Capital Group, for $423,913 per unit. The apartment complex sits on 11.3-acres with 393, 188 square feet in four stories.
A JV between Certes Partners and The Hakimian Organization secured the debt package to refinance the 113-unit The Reserve property at 212 East 125th Street. In addition to apartments, the property features 3,615 square feet of retail on 125th Street and 34 parking spaces. Amenities include a gym, a sauna, a golf simulator and outdoor patios.
Coney Realty purchased the portfolio of 16 multifamily residential buildings for roughly $122 per square foot from Barberry Rose Management. The portfolio contains around 433 apartments and two storefront units. Twelve buildings are located at 109 to 133 Sherman Ave. and 22 to 38 Post Ave. in Inwood, two five-story walk-ups are located at 252 Sherman Ave. and 66 Vermilyea Ave., with two more buildings in Harlem at 519 West 143rd Street and in Washington Heights at 574 West 161st Street.
The apartment complex at 4011 N. Pine Island Road, Sunrise at Shamrock, was acquired by an affiliate of J. Milton & Associates. Developed in 2005, the property sits on 6.8-acres, has 119 apartments and was last traded in 2018 for $20 million. The seller was Lloyd Jones.
A JV between Wenzel Investment Group and Victor Ferraez will use the loan to refinance Shoppes of Southbay, located in Riverview. The 99, 542 square-foot-retail center currently has tenants, which include Winn-Dixie, Tampa General Hospital, Buffalo Wild Wings, Panera Bread and Leslie's Poolmart.
Dadeland Greenery purchased the Greenery Mall in Miami-Dade County from Cofe ZM Dadeland. The property, located at 7700 N. Kendall Drive, boasts a 129,585 square-foot retail center and an 84,913 square-foot office building with a 743-space parking garage. Current tenants include T.J. Maxx/HomeGoods, JoAnn Fabrics, Mattress Firm, Guitar Center, Starbucks, Don Pan, UPS and Jamba Juice.
Sioni Group purchased a 19-story commercial building near New York's Grand Central Station from an undisclosed seller. The property is located at 6E. 45th Street and features 85,500 square-feet of office space and 4,500 square-feet of retail space. Tenants include the restaurant Dishes, law firm Goldberg & Linderberg and jewelry store Color Merchants.
JBL Asset Management acquired The Grove at Winter Park from TriOut Advisory Group for $24.7 million. The 110,500 square-foot shopping center is currently 92% leased and is anchored by a 24 Hour Fitness, with several other restaurants and stores including Twister Root Burger Co., KitchenAF, Asian House, Hertz and Hometown Furniture & Decor Market.
The undisclosed affiliate acquired Richmond Virginia's Merchants Walk shopping center. The 219,972 square-foot shopping center is located on West Broad Street and is currently 98% leased. Tenants include Food Lion, AutoZone, and JoAnn Fabrics. The seller was not disclosed.
Hospital system Maimonides Medical bought the school building in Borough Park from Yeshivath Toldos Yakov of Papa. The five-story building is located at 4706 10th Ave., a block away from the hospital's campus. The 23,000-square-foot property sits on a 6,000-square-foot lot and was previously used as a school.
A JV led by ShopOne Centers and Pantheon purchased the North Providence Marketplace, an 11-acre shopping center located at 156 Smithfield Road in North Providence, RI. The 112,497 square foot plaza is currently 88% occupied with tenants including Shaws, Dollar Tree, Rainbow, H&R Block and Sally Beauty Supply. Financial details of the transaction were not disclosed.
Kelby Farms, a partially completed 277-unit multifamily property in Durham, sold for $305,957 per unit to King from an undisclosed seller. The completed portion of the asset is 70% occupied. Located on 10 acres, Kelby Farms has a resort-style swimming pool, fitness center, workstations, study areas and a game lounge along with studio, one-, two- and three-bedroom apartments.
The Dinerstein Companies acquired Raliegh N.C.'s Manor Six Forks from Waterton for $74.25 million. The 298-unit luxury apartment complex is located at 900 E. Six Forks Rd. and features one-, two- and three-bedroom units with amenities such as a yoga studio with spin bikes, library lounge, theater room, outdoor terrace, rooftop lounge, dog park and on-site retail.
Branch Properties secured the loan to refinance the Peachtree Battle retail center in Atlanta's Buckhead district. The 152,951 square foot property features three sections including a single-story retail strip center, a free-standing grocery and a group of three multi-story retail buildings. Peachtree Battle is currently fully leased with tenants including Publix, CAVA, Ace Hardware and Another Broken Egg Cafe.
Developers Allan Lebovits, Joel Wertzberger and Moishe Loketch purchased the development site located at 125 Third St. in Brooklyn from Orange Management. The site features around 102,000 buildable square feet and the buyers intend to continue with current plans to build a 14-story, 130-unit project with ground floor commercial space on the site.
Habitat for Humanity Buffalo purchased the retail building located at 1030 Niagara Falls Blvd. in Tonawanda, N.Y. The building consists of 23,000 square feet and will be the site of Habitat’s ReStor North location following renovations. The seller was Northcenter Properties.
Nassimi Realty sold Airport Village in Coatesville, Penn. to an undisclosed private investor. The 70,500 square-foot shopping center is situated on a 10.7-acre plot and is currently 87% leased. Tenants include Aldi, Dollar Tree, Rite Aid, Burger King, Verizon Wireless and US Renal Care. Financial details were not disclosed.
Core Spaces purchased the Clemson Lofts student housing project in Clemson S.C. from a JV between Realco Capital Partners and Arcapita Group Holdings. The property, located at 111 Cochran Road, features 232 one-, two-, three- and four-bedroom units ranging from 700 to 2,095 square feet. Amenities include a collaboration lounge, private and group study spaces, an outdoor yoga space, ping pong and billiard tables, a computer lab, a clubhouse, a swimming pool with tanning beds, a hot tub and a dog park.
Bridgeton Holding secured a $60 million loan to refinance the Walker Hotel Tribeca in Manhattan. The 171-key boutique hotel, opened in 2020 and converted from office use, is located at 77 Walker Street.
Haverford Properties purchased the Hartford Corner shopping center in Delran, N.J. from Principal Asset Management. The shopping center, located at 1320 Fairview Blvd, is 95% occupied with tenants including Lowe's, Planet Fitness, Five Below, Virtua Health, Five Guys and Mattress Firm, as well as anchor tenant ShopRite.
A JV between BBX Logistics Properties and PCCP purchased a 40-acre property in Delray Beach, Fla. with plans to construct a logistics campus. The parcel is located between 9773 and 9863 Happy Hollow Road and is adjacent to U.S. Route 441 at the western edge of Delray Beach.
SC Alpha acquired a boutique mixed-use building in Boston from 3MJ Realty. The property, located at 37-43 Temple Place, includes 16 residential units and 4,950 square-feet of retail space. The building was fully renovated and reconstructed in 2008 and is fully leased with retail tenants including The Crossing Wine & Spirits and Victoria's Jewelry.
SRS Real Estate Partners represented an undisclosed seller in the $8 million sale of Hiram Walk in Hiram, Ga. H Walk purchased the building, which was constructed in 2004 and consists of 13,801 square-feet of retail space. Current tenants include Starbucks Coffee, Buffalo Wild Wings, T-Mobile, Cold Stone Creamery and Moe's Southwest Grill.
NPA Wehrle purchased 13.8 acres of vacant land in Clarence, N.Y. from Curtwright Development. The land, located at 8112 and 8080 Wehrle Drive, is zoned for commercial use and the buyer is considering plans to develop it into a mixed-use project.
The property is the firm's first acquisition in workforce housing outside of N.Y.C. The 22-building community consists of over 500 units north of Atlanta and was sold by Harbor Group International.
The all three properties in the industrial portfolio are in Charlotte, and include:
UBS Realty Investors sold, Ballston One, a 239,678-square-foot property in Arlington. The building is 12 stories with 18,573 square feet of retail space, six passenger elevators, a fitness center and 450 parking spaces. Located at 4601 N. Fairfax Drive, tenants include Vista Outdoor, Fluence, America's Power and American Heart Associates.
JBL Asset Management bought the 110,500-square-foot shopping center, The Grove at Winter Park, from TriOut Advisory Group. The property is anchored by a 24 Hour Fitness, and other tenants of the 4270 Aloma Ave. center include Hertz, KitchenAF and Hometown Furniture & Decor Market. The property is 92% occupied and the largest vacancy is 7,200-square-feet.