Sunday, January 9, 2011

EagleBridge Capital Arranges $7,450,000 for Three New Industrial Buildings

 Boston, MA--EagleBridge Capital has arranged construction and permanent mortgage financing totaling $7,450,000 for three new industrial building currently under construction in Middleton, Middleborough, and Chicopee, Massachusetts

The mortgage financings were arranged by EagleBridge principals Ted. M. Sidel (top right photo) and Brian D. Sheehan (top left photo) who stated that the loans were provided by three different regional banks.

In Middleton, EagleBridge arranged mortgage financing for the new 20,000 square foot headquarters of Tool Technology, Inc. to be located on Ajootian Way in the Riverview Industrial Park.

 Tool Technology is an ISO 9010 and AS9100 registered contract manufacturer which has been providing high quality, ultra-precision components and sub-assemblies for over 30 years to a wide variety of industries including aerospace, communications, medical, military defense, and semiconductor.  

In Middleborough, EagleBridge arranged mortgage financing for a new 20,000 square foot distribution/warehouse building located on a 3.98 acre site on Leona Drive in the Campanelli Business Park of Middleborough, a 220 acre business park located in close proximity to Route I-495.

In Chicopee, EagleBridge arranged mortgage financing for a new 31,000 square foot distribution/warehouse building (middle right photo) on a 4.33 acre site on Lonczak Drive in the Westover Air Park.

 Mr. Sidel and Mr. Sheehan stated, “We were pleased to arrange financing on very competitive terms that met our clients’ requirements. 

"Even in today’s challenging economic environment, financing is available for well conceived high quality projects such as these.”

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for industrial, office, r & d and apartment buildings,  hotels and mixed use properties as well as special purpose buildings.

 Contact:  Ted Sidel, (617) 292-7177 Ext. 10 

Berger Commercial Realty Corp. Announces New Sales

FORT LAUDERDALE, Fla. – Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale, Fla., and serving clients around the state, announced two new deals from brokers Judy Dolan (top right photo)  and Steve Hyatt (lower left photo).

Dolan and Hyatt represented the sellers in both transactions.

Dolan and Hyatt represented the James Pappas Trust & HIS Aventura Land LLC in the sale of The Cove Shopping Center, a 25,182-square-foot, three-building retail complex located at 18955-19029 Biscayne Boulevard in Aventura, to buyer Aventura Grand Cove LLC for $8,582,500.

Dolan and Hyatt also represented 1st National Bank of South Florida in the sale of a three-story, multi-tenant office building located at 1212 E. Broward Blvd. in Fort Lauderdale to Michael Meiser for $1,625,000.

Marielle Sologuren
Pierson Grant Public Relations
6301 Northwest 5th Way, Suite 2600
Fort Lauderdale, FL 33309
Phone: (954) 776-1999, ext. 226
Fax: (954) 776-0290

HFF closes $86.5 million sale of and arranges financing for Fox Run Apartments in central New Jersey

 FLORHAM PARK, NJ – The New Jersey and New York offices of HFF (Holliday Fenoglio Fowler, L.P.) have closed the sale of and arranged acquisition financing for Fox Run Apartments (top left photo), a 776-unit multi-housing complex in Plainsboro, New Jersey.

The HFF investment sales team, led by senior managing directors Jose Cruz (top right photo) and Andrew Scandalios (middle left photo) and directors Jeffrey Julien and Kevin O’Hearn, marketed the property on behalf of the sellers, Angelo Gordon & Company and Vantage Properties, who have owned the property since July 2009. 

Avalon Bay Communities purchased Fox Run Apartments for $86.5 million or $111,000 per unit and assumed existing financing on the property.

In addition, HFF’s Cruz and director John Taylor (lower right photo) worked on behalf of the buyer/borrower, Avalon Bay Communities, to secure a $10 million, fixed-rate securitized acquisition loan through PNC Real Estate. 

Fox Run Apartments is located at 60 Fox Run close to Route 1, Carnegie Center, Princeton Forrestal Village and the University Medical Center at Princeton, which is due to open in 2011. 

The property is situated on more than 46 acres and has 58 two-story buildings with one- and two-bedroom units averaging 713 square feet each.  Community amenities include a clubhouse, fitness center, outdoor swimming pool, community room, jogging trail, picnic area with barbeque pits and 11 laundry rooms.

“Fox Run Apartments benefits from a premier location within the prestigious Princeton submarket; in between New York City and Philadelphia,” said Cruz.  “This submarket has a proven track record of high occupancy and has high barriers to entry for new construction.”

Jose R. Cruz,, HFF Senior Managing Director, (973) 549-2000,
 Andrew G. Scandalios, HFF Senior Managing Director, (713) 852-3500,
Kristen R. Murphy, HFF Associate Director, Marketing,(212) 245-2425,