by admin | Sep 18, 2020 | Business
Grandview Towers, one of the three workforce housing properties in the portfolio, totals 91 units, according to apartments.com.
NEPTUNE CITY, RED BANK AND MATAWAN, N.J. — Walker & Dunlop has provided an $87.4 million Fannie Mae loan for the refinancing of a 792-unit workforce housing portfolio located in northern and coastal New Jersey. The portfolio includes Brighton Arms Apartments in Neptune City; Grandville Towers in Red Bank; and Tree Haven Apartments in Matawan. John Banas, Kris Wood, John Wilson and Rhett Saltiel of Walker & Dunlop originated the financing on behalf of the borrower, The PRC Group.
by admin | Sep 18, 2020 | Business
KEARNY, N.J. — Pennsylvania-based investment firm Seagis Property Group has received a $65 million loan for the refinancing of a 415,533-square-foot industrial building located at 50 Central Ave. in Kearny, located west of New York City. The newly built property features 40-foot clear heights and 88 overhead doors and was fully leased at the time of the loan closing. New York Life Real Estate Investors provided the loan.
by admin | Sep 18, 2020 | Business
AYR will include 267 units.
INDIANAPOLIS — Milhaus and Kite Realty Group Trust have unveiled plans to develop AYR, a $40 million apartment development at Glendale Town Center in Indianapolis. The developers identified underutilized land to be transformed into the 267-unit multifamily project. Milhaus and Kite will also build new bike lanes, a left turn lane and green spaces. Completion of the apartments is slated for 2021. Glendale Town Center, a shopping center dating back to 1958, is home to tenants such as Target and Lowe’s. The name AYR comes from the department store L.S. Ayres & Co., which was part of Glendale Town Center when it first opened.
by admin | Sep 18, 2020 | Business
YPSILANTI, MICH. — Berkadia has arranged the sale of Arbor One Apartments in Ypsilanti near Ann Arbor for $30.4 million. The 469-unit, garden-style multifamily property is located at 799 Green Road. It features newly renovated one-, two- and three-bedroom units. Kevin Dillion, Jason Krug, Rick Vidrio, Rick Brace, Charley Henneghan, Carly Dietz and Corey Krug of Berkadia’s Great Lakes team represented the seller, Michigan-based Watermark Partners Real Estate. New Jersey-based Valleytree Partners was the buyer. Aaron Moll of Berkadia’s Detroit office secured $23.5 million in acquisition financing through Freddie Mac.
by admin | Sep 18, 2020 | Business
MAHWAH, N.J. — Ascena Retail Group, the parent company of Ann Taylor and Lane Bryant, will sell its plus-size chain Catherines to FullBeauty Brands Operations LLC for $40.8 million, according to a new report from The Wall Street Journal. FullBeauty Brands is a New York City-based holding company whose brands include plus-size chains such as Woman Within, Jessica London Inc. and Swimsuits for All. Ascena Retail Group filed for Chapter 11 bankruptcy in July with plans to close an unspecified but “significant” number of stores.
by admin | Sep 18, 2020 | Business
Crash Champions is an auto body collision and paint repair company based in Chicago.
CHICAGO — Cushman & Wakefield has brokered the $30 million sale-leaseback of a Crash Champions property portfolio in metro Chicago. Crash Champions is an auto body collision and paint repair company based in Chicago with additional operations in California and Ohio. Jack Chang of Cushman & Wakefield represented the seller and procured the undisclosed buyer. The sale includes multiple Crash Champions shops.
