Regions Northeast
150,000SF Retail Property Pulls in $28M
July 18, 2008

Ownership of Edison Commons, a 150,000-square-foot shopping center in Edison, N.J., has changed hands with AMC Delancey Group Inc.'s sale of the property to a subsidiary of MCC Realty Investments L.L.C. The retail asset fetched nearly $28.4 million. Carrying an address on Lincoln Highway near the New Jersey Turnpike, Edison Commons joined AMC Delancey's portfolio in 2003 when the real estate investment and development company acquired it as part of a two-property purchase. Five years later, AMC Delancey has realized a 22 percent internal rate of return on its investment in Edison Commons. The company's disposition of the property fits with its current strategy of focusing efforts on the senior living sector. Metro Commercial Real Estate Inc. and CB Richard Ellis co-brokered the transaction.

 
Recent Northeast Headlines
Financing Closes for New Jersey Retail/Office Center
Sept. 05, 2008
The 185,000-square-foot office and retail property at 2143 State Route 35 in Holmdel, N.J., has been financed to the tune of $17.4 million.
avenir HFF Arranges $90M Loan for New Archstone M-F Project in Boston
Sept. 05, 2008
Development of Archstone Avenir, a 241-unit luxury apartment community in Downtown Boston, is moving forward with help from a $90 million construction loan arranged by the Boston and Dallas offices of Holliday Fenoglio Fowler L.P.
Lenders Go After Macklowe Over $510M Loan
Sept. 04, 2008
Deutsche Bank AG and other lenders are suing Macklowe Properties Inc. to foreclose on a $510 million loan the company took out to develop the site of the Drake Hotel in New York City.
McNally Joins Colliers Meredith as Associate
Sept. 04, 2008
Dana McNally has joined Colliers Meredith & Grew as an associate in the Boston Brokerage Group, focusing on the Boston office market where he is responsible for the generation of new business, leasing, financial analysis, lease negotiations, client presentations and market research.
AvalonBay Forms $950M Apartment Fund
Sept. 04, 2008
AvalonBay Communities Inc. has created a new fund that will focus on the acquisition and operation of apartment properties in high barrier-to-entry markets in the Northeast, Mid-Atlantic, Midwest, and on the West Coast.