Northeast Real Estate Business

NOV-DEC 2015

Northeast Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Northeast United States.

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F I N A N C E 6 • November/December 2015 • Northeast Real Estate Business www.REBusinessOnline.com PROPERTY CLASS LOCATION (CITY, STATE) SIZE AMOUNT LENDER ARRANGED BY 15 West 47th St. & 22 West 48th St. Offce New York City (Midtown Manhattan) n/a $130 million regional balance sheet lender Meridian Capital Group 830 Winter St. Lab/Biotech Waltham, Mass. 182,104 sf $74.2 million Wells Fargo HFF 88 University Place Offce/Commercial Lofts New York City (Midtown South/Greenwich Village) 94,000 sf $70 million Mack Real Estate Credit Strategies Mission Capital 141 & 315 South Harrison St. Transit-Oriented Mixed-Use East Orange, N.J. 255 multifamily units, 30,000 sf commercial $43.5 million Amboy Bank Cushman & Wakefeld Capital Services 274 East Main St. Multifamily Norton, Mass. 188 units to be built $41.8 million First Niagara Bank & Cornerstone Real Estate Advisers HFF 218 & 250 Spring St. Multifamily West Roxbury, Mass. 55 units $7.5 million Local Bank CBRE/New England Debt & Structured Finance Group 20 Carematrix Dr. Offce Dedham, Mass. 39,391 sf $4.7 million Country Bank HFF FINANCIAL SCOREBOARD Loans Recently Closed For Northeast Properties JOHN MARR 800-260-4963 6 Landmark Square, 4th Floor Stamford, CT 06901 jmarr@greystoneusa.com Greystone provides innovative financing for multifamily properties across several lending platforms - no matter the size of the transaction. ■ FANNIE MAE ■ FREDDIE MAC ■ CMBS ■ BRIDGE ■ FHA Where People Matter CASTLE LANTERRA PROPERTIES BUYS NEW JERSEY APARTMENT PROPERTY FOR $147.5M BAYONNE, N.J. — Castle Lanterra Properties (CLP) has purchased Alexan CityView, a 544-unit apartment community situated on 7.4 acres along the waterfront in Bayonne for $147.5 million from a joint venture between an in- vestment fund and a large property manager. Jones Lang LaSalle arranged the transaction. The new owner will rename the property Harbor Pointe and plans property upgrades, including updates to the clubhouse and an expansion of the gym. The LEED Silver-certifed property, which was built in 2010, features a 9,000-square-foot clubhouse, ftness studio, indoor basketball half-court, chil- dren's playroom, a resort-style saltwater pool, and a seven-story parking ga- rage. It was at 91 percent occupancy at the time of sale. KUSHNER COS. ACQUIRES 308-UNIT APARTMENT COMMUNITY IN CHATHAM TOWNSHIP, N.J. CHATHAM TOWNSHIP, N.J. — Kushner Cos. has acquired the Chatham Hill Apartments, a 308-unit rental apartment community in Chatham Township. Jo- seph Brecher of Gebroe-Hammer represented the seller, Home Properties/Lone Star. Meridian Capital Group arranged acquisition fnancing through New York Community Bank (NYCB). The property is located on 23 acres and offers a mix of one-, two-, and three-bedroom apartments featuring fully equipped kitchens with separate dining rooms. Amenities include a community pool with deck, tennis courts and on-site garage parking. Terms of the deal were not disclosed. NESTLÉ HEALTH SCIENCE TO OCCUPY 180,000 SF AT NEW JERSEY CENTER OF EXCELLENCE BRIDGEWATER, N.J. — Nestlé Health Science has signed a long-term lease to occupy 180,000 square feet of space at the New Jersey Center of Excellence in Bridgewater. Nestlé Health Science, a health-science company engaged in the development of innovative nutritional therapies, will occupy a building that previously served as a research center within the former Sanof U.S Research and Development Campus. Since acquiring the campus, the joint partnership of Advance Realty and CrossHarbor Capital Partners has fully repositioned the site and turned it into a premier research and development campus. The in- terior ft-out for the new space will begin before the end of this year, with the move-in slated for July 2016. N E W J E R S E Y

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