P ennsylvania
S hopping C enters
Real Estate Journal — Pennsylvania —Section C
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M id A tlantic
McDonnell of Feinberg andKW Commercial represent buyer in $1.075m purchase Feinberg Real Estate Advisors completes $5.045 million in sales A LLENTOWN, PA — Feinberg Real Estate Advisors, of Equinox Advantage Real Estate represented the seller. F e i n b e r g
Sunburst Property Man- agement, said “Cindy was in- strumental in helping us find the buyer, Highland Street Partners, for our Highland Street property and worked diligently to help us find the 1031 Exchange replacement property in the required time- frame. She also helped facili- tate the introduction of 1031 Corp as the intermediary for the 1031 Exchange”. Feinberg Real Estate Ad- visors announced the in- vestment sale of 1001 East Highland St.. The property is an 18,520 s/f office and warehouse which sold for $975,000. The sellers were David and MaryBeth Wein- stein, principals of Sunburst Property Management. The buyer was Highland Street Partners. The property was the relinquished property for a 1031 Exchange for which 1301 Corp. was the interme- diary. The primary tenant in the property is Boyle Con- struction, Inc. McDonnell and KW Com- mercial represented the seller and the buyer. The buyer, Highland Street Partners, has retained Feinberg Real Estate Advisors for the marketing of the available tenant space. n
LLC repre- sented Pony Partners, LP in the $3.02 million in- v e s t m e n t purchase of 7035 Schantz Rd., Upper M a c u n g i e
Real Estate Advisors has been retained t o manage the property and market future tenant o pp o r t un i - ties.
Gregg Feinberg
Cindy McDonnell
Twp., Lehigh County. The property is a 41,287 s/f multi- tenant flex building. Tenants in the property include Napa
Feinberg Real Estate Ad- visors represented David and MaryBeth Weinstein in the investment purchase of 1050 South Cedar Crest Blvd. in Allentown. The prop- erty, which was purchased for $1.075 million, is a 7,374 s/f multi-tenant commercial office building with great vis- ibility on Cedar Crest Blvd. in Salisbury Twp. Cindy McDonnell Feinberg of Fein- berg Real Estate Advisors and KW Commercial repre- sented the buyer. B ob Wiley with Berkshire Hathaway Fox and Roach Realtors represented the seller. The purchase was part of a 1031 Exchange, which was established with the sale of 1001 East Highland St. to Highland Street Partners. The Weinsteins, principals of
7035 Schantz Rd.
JANUARY 16 - 29, 2015
HI-LIGHTS
Keystone Property Group unveils VEVA SPOTLIGHT Eastern PA 5-11C
1050 South Cedar Crest Blvd.
Auto Parts, Morning Call and Toshiba Business Systems. Gregg Feinberg of Fein-
berg Real Estate Advisors, LLC represented the buyer, Pony Partners. Sean Burke
Eastern Union Funding structures refinance for Philadelphia’s Green Tree Gardens
Mericle Commercial’s Namutka brokers 12,394 s/f, at Schuylkill Mall 5C
PHILADELPHIA, PA — Eastern Union Funding , one of the largest national commercial mortgage broker- ages, has arranged a $4.97 million refi for Green Tree Gardens, an apartment com- plex located at 330 West John- son St., a short commute from Center City in Philadelphia, PA. The apartment complex is located in the Wissahick- on / East Mount Airy Com- munity of Philadelphia. The units offered are one and two bedrooms with spacious floor plans, modern kitchens, laundry facilities and 24-hour emergency maintenance man- agement office on-site. Financing for the purchase
Green Tree Gardens
was arranged by Eastern Union Funding’s Meir Kes- sner through Investors Bank, which is consistently ranked among the top banks lending to the multifamily housing sector in the New York Metro-
politan area. This transaction is a seven year loan locked in at a 3.5 percent interest rate. “Seven year deals closing in the mid-threes is a solution the market might not offer next year, so to refi now made
a lot of sense,” Kessner said. “The units themselves, given their proximity to downtown Philadelphia, are also an in- creasingly high-performing asset, which propelled this deal further.“ n
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CREW Lehigh Valley Chapter .... 11C www.marejournal.com
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