News/Events
CBRE Arranges Debt on Advanced Manufacturing Campus in San Jose’s Golden Triangle
CBRE announced it arranged $67.4 million in financing for Forge North First, a mixed-phase industrial/R&D campus and advanced manufacturing development in San Jose’s Golden Triangle submarket. Mike Walker, Brad Zampa, and Andy Gross of CBRE’s Debt & Structured Finance team in San Francisco arranged the five-year bridge loan with floating-rate, non-recourse financing from an institutional lender on behalf of…
Marcus & Millichap Closes Sale of Downtown Westfield Mixed-Use
Marcus & Millichap arranged the sale of 251 North Ave. W., a mixed-use property in Westfield, NJ, for $5,260,000. Alan Cafiero, David Cafiero and Damien Rance of Marcus & Millichap exclusively marketed the property on behalf of the seller and procured the private buyer. “Downtown Westfield continues to be one of the most desirable mixed-use investment markets in…
Pennrose Cuts Ribbon on Mixed-Income Rentals in Lenox
Pennrose held the grand opening of Forge, a new mixed-income rental community for individuals and families in Lenox, MA. The community features 65 apartment units across 13 townhome-style buildings, along with a modern clubhouse and shared amenity spaces. “With few affordable housing options in the area, Forge will provide a high-quality, connected living experience for working…
Sack Capital, Align Finance Close Financing for Two Step Up Housing Acquisitions
Sack Capital Partners, a San Francisco-based real estate investment and management firm, and Align Finance Partners have closed structured financing for Step Up Housing’s acquisition of two California multifamily communities: Copper Creek, a 268-unit community in Sacramento; and Terramonte at Foothill, a 138-unit community in Pomona. The combined transactions total 406 units at $91.35 million. Sack will provide asset and…
CEDARst Closes on Construction Loan for Sixth San Diego Multifamily
CEDARst Companies has closed on construction financing and launched construction on a 197-unit multifamily development, The Samuel, located at the corner of Adams Avenue and Idaho Street in San Diego’s North Park neighborhood. CrossHarbor Capital Partners provided an $80,000,000 construction loan for the project. JLL Capital Markets, led by Zach Kersten, arranged the financing. KPRS Construction…
Winthrop Center Residences Secure New England’s Largest C-PACE Financing
MassDevelopment, Nuveen Green Capital and Millennium Partners announced $281 million in private financing for the Millennium Residences at Winthrop Center at 115 Federal St. in downtown Boston under the state’s Property Assessed Clean Energy (PACE) Massachusetts program. This project is believed to represent the largest commercial PACE financing to date in New England. Developed and owned by Millennium Partners, Winthrop Center…
Developer Proposes 600+ Mixed-Income Apartments in Bronx’s Soundview Neighborhood
Brooklyn-based Heights Advisors has filed a land use application to build 606 mixed-income apartments in the Soundview section of the Bronx. The 21-story, 515,000-quare-foot mixed-use building at 945 White Plains Rd. would rise on a site currently occupied by a low-rise retail building housing Modell’s Sporting Goods and GameStop, according to published reports. The application…
29th Street Capital Acquires 161-Unit Townhomes in Kansas
29th Street Capital (29SC) has acquired Chestnut Heights Townhomes, a 161-unit townhome community located in Olathe, Kansas. The property will be managed by 29th Street Living, the company’s property management platform. 29SC partnered with Basis Investment Group’s BIG Equity Value-Add Fund II for LP equity for the acquisition of the property and a capital improvement…
Entre Commercial Realty Completes 21K-SF Lease in Wauconda
Entre Commercial Realty completed the lease of a 20,500 square foot industrial building located at 1275 Kyle Court in Wauconda, Illinois. The freestanding industrial facility features 20-foot clear heights, two exterior loading docks, and one drive-in door. Brian Bocci, SIOR, and Jack Steineke of Entre Commercial represented the landlord in the transaction. Prior to the…
