News

Shorenstein Properties LLC sold Santa Clara Towers to an undisclosed institutional investor, and the terms of the transaction were not disclosed.

The Moinian Group, a national real estate owner and operator of real estate, has secured a $105 million loan from the Bank of China to refinance 572 11th Ave. on the southeast corner of West 43rd Street and 11th Avenue, in Hell's Kitchen, Manhattan.

The nine-story addition to the existing 112-room Onyx Hotel in Downtown will add 77 hotel rooms to the property.

CLK, LLC acquired the complex for $94 million, according to Cagan's Realty, Inc., an affiliate of Cagan Property Management Inc. of Skokie, IL, which represented CLK in the transaction.

The $25.7-million project would include $3.04 million in mortgage financing from NJHMFA, $1.5 million from its Special Needs Housing Trust Fund, as well as $4 million from its hospital program to be matched by RWJBarnabas Health.

The largest transactions were renewals by Genex totaling 50,037 square feet at 440 East Swedesford Road and Tekni-Lex's 17,219-square-foot renewal at 460 Swedesford Place. The Provident Bank also signed a lease renewal for its 3,350-square-foot operations at 460 Swedesford Road.

Urban Edge Properties, a real estate investment trust focused on urban retail real estate, has acquired two mixed-use buildings in the Midwood submarket of Brooklyn for $165 million.

Commercial real estate services firm Avison Young has hired Dennis Sherry as senior portfolio manager of the firm's real estate management group. He joins the company from Newmark Knight Frank and is tasked to oversee operations and bolster client relationships.