CAPRE’s Commercial Real Estate Headlines for September 12, 2019

Check out the latest deals and developments in commercial real estate for September 12, 2019: Hunt Real Estate Capital Provides a $31.96 Million Acquisition Loan for a Multifamily Property Located in Lake Worth, Florida: Hunt Real Estate Capital announced today it provided a Fannie Mae conventional multifamily loan in the amount of $31.96 million to finance the acquisition of a multifamily property located in Lake Worth, Florida. The 214-unit property located at 7132 Colony Club Drive is 95% occupied and is in good condition. The seller completed $2.49 million in capital improvements since acquisition, including new appliances, cabinets, quartz countertops, plank flooring, and in-unit light fixtures, as well as landscaping improvements, common area upgrades, and asphalt repairs. Property amenities include a community pool, heated spa, two tennis courts, a half-basketball court, children's playground, gated entry, and a combination leasing office/clubhouse. The clubhouse facility includes a full-size kitchen, meeting rooms, central lounge, and a fitness center with locker rooms and saunas. Woodland Industrial Partners Acquires Long Island Industrial Facility: The Long Island Business News is reporting that Woodland Industrial Partners, an affiliate of Fairfield, N.J.-based Woodland Properties, bought a long-vacant, foreclosed, 130,565-square-foot industrial building on 12.65 acres at 100 Precision Drive in Shirley, NY. "The price wasn’t disclosed, though industry sources say it was around $9 million. Constructed in 2002 for a division of Milwaukee, Wisc.-based Rockwell Automation, which manufactures industrial robots, the complex originally cost $17 million to develop. It…