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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.
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.
Telegraph Tower, developed by TMG Partners and endorsed by mayor Libby Schaaf as a key element of Uptown Oakland's development, provides 875,000 square feet of next generation office space.