Real Estate Finance

June 12, 2024

The loan is to refinance Avery Dania East apartments in Dania Beach, Fla. Built in 2023, the multifamily property features 336 units at 120 N. Compass Way. The borrower is a JV between The Meyers Group and Accesso Partners.

June 12, 2024

The company picked up Ascent 430, a garden-style multifamily development that includes 319 apartment units. The property was sold for $247,648 per unit by GrayBull Partners. BAM says it plans to raise rents at the apartment to maximize profits.

June 12, 2024

The loan is to refinance Princeton Pike Office Park, a six-building campus located just north of Trenton in Lawrenceville, N.J. Reynolds acquired the property in Apr. 2022 in partnership with Capital Solutions. The park was recently renovated and is 95% occupied.

June 12, 2024

An 86-room Holiday Inn Express & Suites in Owings Mills, Md. has been sold for $10.15 million. Located at 11509 Red Run Blvd., the hotel sits on 5.71 acres and offers amenities such as a fitness center, business center and meeting facilities. Both the seller and buyer were undisclosed.

June 13, 2024

The developer purchased the 2.6-acre property at 4600 Crabtree Valley Ave. from PMT JA NC. The buyer said it purchased the property for the land, not the restaurant which sits on it. The restaurant will continue to own and operate the building and parking lot, and has approximately 12 years left on its ground lease.

June 12, 2024

Lincoln Memorial University purchased 1750 Wells Road from Bayberry Wells Leasing. The building is 35,0200 square feet, sits on 2.6 acres and features full web-based HVAC controls, secure access-point badge reading technology, interior and exterior camera systems, UPS backup power system, a generator and two dock-high doors. It last sold in 2017 for $5.25 million.

June 12, 2024

The developer bought the 3.5-acre property at the southwest corner of East Orange Ave. and Abrams Rd. The seller was Double Tall. The buyer did not divulge its plans for the property.

June 12, 2024

Circle Back Holdings purchased 112 Franklin St. and 60 Niagara Sq. from Marotto Realty. The buyer plans to renovate the offices within both buildings to attract tenants. 112 Franklin St. was constructed in the 1920s and 60 Niagara Sq. was constructed in the 1900s.

June 12, 2024

The company purchased The Henry at 100 E. Tyler St., sold by a JV between Development Ventures Group and Intown Group. The Henry has 188 apartments and 537 beds. The buyer did not divulge his plans for the student housing tower.

June 11, 2024

The loan is to refinance the 260-unit Elements at Saratoga Lake in Saratoga Springs. Located at 1 Forest Ridge Blvd., the property includes 26 two-story buildings and a clubhouse. Community amenities include an indoor/outdoor pool, fitness center, golf simulator, pickleball court, and yoga studio.

June 11, 2024

The loan is to finance the acquisition of The Knox, a 110-unit mixed-use property in Manhattan. The company is purchasing the 36-story apartment building at 49 East 34th St. from a JV between Morgenstern Capital and HIG Capital. The building includes 2,700 square feet of ground-floor retail.

June 11, 2024

The company bought 189.16 acres within the Wendell Commerce Center, located in Wake County, from Oppidan Investment Company. Summit Real Estate Group will develop the entire industrial portion of the development, totaling 1.8 million square feet spread over eight buildings. The plan is to build a mixed-use building with residential and retail components.

June 11, 2024

The company offloaded 84 apartments in multiple locations just north of Hollywood Boulevard and east of the Presidential Circle office building/roundabout, to Pulso Hollywood. The price equated to $183,333 per unit. The addresses include 3700, 3610, 3604, and 3518 Taylor St.; 3705, 3615, 3716, 3616, 3610, 3602 and 3500 Polk St.; 300 North 35th Ave.; 3833 North Circle Dr.; and 3705 Tyler St.

June 10, 2024

The five-story office building located at 4201 Mitchellville Rd. in Bowie, Md. was sold to Beatrice Loving Heart Agency. The nearly 50,000-square-foot building, formerly the corporate headquarters for Washington Savings Bank, was 30% leased at the time of sale. Built in 1997, Beatrice Loving Heart Agency plans to use a portion of the building as its headquarters.

June 11, 2024

The firm purchased an over 100,000-square-foot warehouse on more than 8 acres at 920 East Raleigh St. in Siler City. The warehouse encompasses roughly 120,000 square feet and was built in 1976 and has been used by different plastics manufacturing companies over the years. The seller was undisclosed.

June 11, 2024

8600 Transit purchased the two-story, nearly 20,000-square-foot building, which was constructed in 2006. Iskalo bought it for $2.13 million in 2013. The building has two existing tenants, though the buyer plans to bring in more tenants.

June 10, 2024

The developer purchased the six-story, 90-unit apartment building at 1450 3rd Ave., which they intend to partially demolish to redevelop. The seller was Valeray Real Estate Company. Douglastown plans to build a 39-story, 72-unit tower that will be mostly residential, with retail and parking on the ground and second floors.

June 10, 2024

A JV between The Meyers Group and Accesso Partners obtained a refinancing package for Avery Dania East, a 336-unit luxury community in Dania Beach, Fla. Common-area amenities include a three-story clubhouse with a swimming pool and cabanas, a spa with waterfall, a fitness center and a theater. The property is part of the Dania Pointe master-planned development, covering 1 million square feet of retail space, six hotels and more than 500,000 square feet of office.

June 10, 2024

A JV between Empire Capital and Namdar Realty Group bought the 10-story, 220,000-square-foot office building at 321 West 44th St. Related spent $153 million for the property in 2018. The buyer did not divulge its plans for the property.

June 11, 2024

The assemblage at 93-99 Commercial St., together with 1139-1145 Manhattan Ave., 15 Box St. and 78 Box St., was Sulcoit Capital. 93-99 Commercial St. includes 22 regulated and market-rate apartments as well as both retail and office space, the lots at 15 and 78 Box St. are development sites and 1139-1145 Manhattan Ave. are existing mixed-use buildings. Glacier Equities plans to redevelop all the lots into a mixed-use residential retail asset.

June 11, 2024

A JV between Washington Gardens Inc. and Washington Gardens MB sold the buildings at 1509 and 1515 Washington Ave. to Keyah Real Estate Group. The sites include a 11,458-square-foot retail building and a 13-unit apartment building. The seller purchased the retail building for $550,000 in 1987 and the apartment building for $4.6 million in 2015.

June 11, 2024

The company sold the 6.2-acre property at 3151 N. Federal Highway to 3151 NF Owner. The property last traded for $10.6 million in 2022. The buyer plans to build a 285-unit apartment complex in seven stories with a mix of studio units and three-bedroom units. Amenities will include a gym, a pool, an outdoor lounge, a club room, a social room, grilling areas and an office lounge.

June 10, 2024

The company bought over 41 acres off Continental Blvd. where it will build Constellation 485 South, a 374,220-square-foot industrial building. Constellation will deliver the building in Aug. 2025. The seller was a JV between Somerset Properties and Waterfall Asset Management. Constellation 485 South will include 36-foot clear heights and can accommodate users from 100,000 square feet to full-building tenants.

June 07, 2024

The company acquired 980 Madison Ave. and plans to use the space for an office. RFR purchased the property in 2004 and it's been home to an expansive gallery since 1987. However, the art gallery will be leaving the space in 2025.

June 07, 2024

The company sold 31.8 acres at 3100, 3150, 3200 and 3250 N.W. 33rd St. in four deeds to 3150 NW 33rd Street, care of Tishman Speyer. The deals included the 121,994-square-foot warehouse built in 2020 at 3250 N.W. 33rd St. and the 146,491-square-foot warehouse completed in 2020 at 3150 N.W. 33rd St. The park also includes two other sites prepped for industrial buildings of 150,955 square feet and 88,286 square feet.

June 07, 2024

The company secured $100 million to refinance its 447,000-square-foot office building at 488 Madison Ave. The building sits between 51st and 52nd streets and was opened in 1948. The 25-story building is fully leased with tenants including the Archdiocese of New York.

June 07, 2024

The firm acquired 100 Midtown, a 118-unit, 330-bed luxury student housing community in Atlanta. Arizona State Retirement System was the seller. Currently 98% occupied, the community came online in 1968 and was repositioned as a student housing property in 2004. The nine-story building consists of fully furnished two- and four-bedroom units and an assortment of common-area amenities.

June 07, 2024

The loan is for refinancing Accent Southrail, a 304-unit mid-rise apartment community located at 6026 Station Crossing Ave. in Charlotte’s Lower South End district. Built in 2021, Accent Southrail features a mix of one-, two- and three-bedroom units. Amenities include a gym, a pool, a clubroom, a coffee bar, outdoor patios, coworking spaces and more.

June 07, 2024

A JV between Blue Ridge Capital Fund, AB&B Commercial Real Estate and Triland Commercial purchased MacGregor Village at 107 Edinburgh South Dr. Washington Prime Group was the seller. Built in 1986, MacGregor Village consists of six buildings and 138,276 square feet of space and was renovated in 2018.

June 07, 2024

Taguchi & Co. acquired 43 W. 27th St., a 16-unit site in the NoMad neighborhood. The seller said it's parting with the site as it's struggling to pay off loans tied to many of its rental properties, including No. 43. The three-story building features 16 units and retail on a portion of the ground floor.

June 07, 2024

The company bought Doctors Medical Park, a low-rise medical office building portfolio at 10301 Georgia Ave. The property includes two main buildings and a smaller one in between, plus parking lots on 4.8 acres. The seller was Medical Center Associates.

June 07, 2024

The company sold the 52,122-square-foot office at 14400 N.W. 77th Ct. to Miami Lakes Medical Park for $288 per square foot. The three-story office building was built on the three-acre site near the Palmetto Expressway/State Rd. 826 in 2002. Tenants consist primarily of healthcare providers, with space for lease.

June 10, 2024

Truist Bank sold its free-standing data center at 2323 Operations Dr. after vacating the property. The building in northwest Durham near Interstate 85 is 119,180 square feet on almost 15 acres. The building is classified as a flex industrial building.

June 04, 2024

Miami-Dade county commissioners approved the purchase of the six-story, 50-year-old building at 9250 W. Flagler St. The property, sold by Hoffman Flagler, will be used by several county departments. The commissioners also approved the development of workforce and affordable housing on the 26-acre site.

June 06, 2024

A JV between TPG, Cannon Hill and Skylight acquired 101 Franklin St. in Tribeca. The 205,000-square-foot vacant building will undergo an office-to-residential conversion. The property offers over 13,600 square feet of lot area zoned for commercial, hotel, and residential use.

June 06, 2024

The Namdar Group of Long Island, and several business partners, secured the loan to refinance 20 residential, hospitality and mixed-use properties across three boroughs in New York City. The properties include a hotel at 837 Second Ave. in Murray Hill, a restaurant at 576 Ninth Ave., mixed-use rental properties at 568 Ninth Ave., 570 Ninth Ave. and 574 Ninth Ave. in Hell's Kitchen, a mixed-use rental property at 191 Bedford Ave. in Brooklyn, and rental properties at 2505 and 2509 Hoffman St. in the Bronx. The 20 properties in the portfolio have 234,963 square feet of built space and hold approximately 267 rental units.

June 06, 2024

Azora, a real estate firm, bought 1149 Broadway at the corner of West 26th St. for $1,547 per square foot. Premier Equities bought the property in 2019 for $40.3 million after its former owner shuttered the hotel in 2018. The hotel was renovated durign the pandemic, with a portion of it leased out to a rental company.

June 06, 2024

The company will use the loan to acquire the site at 78 Walker St., which currently houses a vacant office and industrial building. CSP will redevelop the property into a 300-unit self-storage facility. Public Storage will operate the facility, which will span 30,540 rentable square feet.

June 06, 2024

The firm bought the 136,000-square-foot office building at 399 Market St. from Colonial Penn Life Insurance. The building is 45% occupied. Current tenants include a TD Bank branch on the ground floor along with nonprofits, an architectural firm and a logistics firm.

June 05, 2024

487 Main Street sold the six-story office building at 487 Main St. to 487 Main. The building is partially occupied, though the buyer said they'll actively pursue tenants to fill any remaining vacancies as soon as possible.

June 05, 2024

The firm bought 222 Broadway in a JV with GFP Real Estate for $150 million and 101 Franklin Street, in a JV with Skylight Real Estate Partners and Cannon Hill Capital Partners, for $100 million. DWS was the seller of 222 Broadway and Columbia Property Trust of 101 Franklin. TPG said it plans to turn both office buildings into residential properties.

June 05, 2024

The developer obtained the loan for the 294-unit 101 Fleet Place multifamily complex in Brooklyn. Rising 21 stories, the mixed-use property includes 292 rental units, 4,600 square feet of commercial space and an assortment of amenities. The loan will also help The Jay Group finish any remaining construction.

June 06, 2024

Principal Financial Group acquired the 400,000-square-foot Colony Place along with a handful of parcels near the outdoor shopping center. The property was originally developed by Saxon Partners over 20 years ago. Principal Financial says the center was an attractive purchase thanks to its "aesthetically appealing" property and diverse mix of tenants covering multiple shopping, dining, service and fitness categories.

June 05, 2024

Just A Start, a social services provider, received the financing for its 106-unit affordable housing project at 52 New St. in Cambridge. The building includes one-, two- and three-bedroom units reserved for households earning 30-80% of the area median income along with 3,500 square feet of commercial space.

June 05, 2024

The firm acquired 147 Milk St. in Boston's financial district from German investor KanAm Grund. The 52,000-square-foot building houses multiple medical offices. The seller bought the building in 2021 for $48 million.

June 05, 2024

Slate acquired 2114-2134 Coyle St., a commercial site with a Dollar Tree and another retail building on-site. The seller was a company affiliated with developer Marty Waisbrod. Slate Property Group aims to develop a 125,000-square-foot, seven-story residential building with 175 units.

June 05, 2024

Petroleum Equipment and Manufacturing Co. sold the 49,627-square-foot warehouse at 2175 W. 76th Street for $369 per square foot. The warehouse last traded for $1.5 million in 1992. The warehouse was built on the 2.7-acre site in 1982 and recent tenants include truck parts supplier OEM Surplus Depot.

June 05, 2024

The company purchased the warehouse at 9909 Pritchard Rd. from CT Realty. The warehouse was built in 2023 and sits on 51.7 acres in West Jacksonville. The warehouse is fully leased.

June 04, 2024

The company acquired a 17-building in Lanham, adding 785,000 square feet of industrial, flex and office space to its portfolio. The seller was BECO Management. The business park was constructed between 1983 and 1989 and is located at the intersection of Forbes Blvd. and Martin Luther King Jr. Hwy.

June 05, 2024

A JV between BG Capital, Saoud Development and FreezPak Logistics landed the loan for its 275,000-square-foot cold storage facility on Jacksonville's westside. FreezPak Logistics of New Jersey is leasing the facility. The loan will go toward further expanding and developing the site.

June 04, 2024

The company acquired Harbour Cove, a multifamily complex that houses 240 units across nine three-story buildings at 1601 South Hiatus Rd. The seller was Eaton Vance. Cortland plans to update units, including renovating the kitchens and modernizing in-unit lighting and plumbing fixtures, and adding a playground, a dog park and pickleball courts.

June 04, 2024

Developer Spatial Equity and nonprofit developer Community Access signed a contract with the Catholic Church to redevelop a vacant lot in the East Village into a 570-unit multifamily property. The companies paid between $58 million and $68 million for the site at 181 Ave. The JV plans to use the 1.4-acre lot to build two separate buildings, both 100% affordable housing.

June 05, 2024

The developer acquired the 102,000-square-foot building in Fort Mill from Graham Capital. FNA said the building will be used for manufacturing and distributing air compressors. The building runs 102,000 square feet.

June 04, 2024

Located near Gulfstream Park in Hallandale Beach, Silver Wave Ventures sold the 33,934-square-foot site at 804 S. Federal Highway to a JV between BH Group and Prime Group. The price equated to $191 per square foot of land. The JV will redevelop the property with a 337,380-square-foot project with 14 stories and 138 condo/hotel units, 60 condos, 4,000 square feet of retail, 284 parking spaces and assorted amenities

June 05, 2024

The company picked up The Guilford Station Shoppes, which is located at 5529-5559 W. Market St. and contains 33,110 total square feet of retail space. The seller was Evans Best. The center's occupants include an assortment of retail centers and restaurants.

June 03, 2024

The REIT scooped up Virginia Gateway, a 95% leased, 665,000-square-foot retail development. Located at 4501 Linton Hall Rd., the 110-acre site was sold by Crow Holdings. The site was originally meant to be a data center but was turned into a mall by The Peterson Cos. and sold in 2016 for over $200 million to Crow Holdings.

June 03, 2024

A JV between Tishman Speyer and Mitsui Fudosan America acquired Analogic Corp.'s headquarters, with plans to redevelop the site into an industrial park. The buyers will turn the 60-acre property, at 8 Centennial Dr., into a development with four warehouses totaling about 700,000 square feet. The four buildings will range from 130,000 to 260,000 square feet.

June 03, 2024

The company sold the 240-unit Harbour Cove at 1601 S. Hiatus Rd. to Cortland Partners for $260,625 per unit. This is the first time the property has traded. Totaling 564,130 square feet, Harbour Cove was built on the 13.8-acre site on the corner of Pembroke Road and Hiatus Road in 1996. The buyer plans to rebrand the community Cortland Harbour Cove.

June 03, 2024

The firm acquired 147 Milk St. in Boston's financial district from a German investor. The 52,000-square-foot building, anchored by Atrius Health, also houses Beneski Chiropractic Health & Wellness Center and a midwife practitioner.

June 03, 2024

The loan is for the financing of a 63-unit affordable housing project in Boston's Hyde Park neighborhood. The property consists entirely of one-bedroom units aimed for households earning 30, 50 or 60% or less of the area median income. The borrower was B'nai B'rith Housing of New England.