REBusinessOnline

VILLA ENCANTO IN PHOENIX RECEIVES $25.7M IN FINANCING

PHOENIX – The 385-unit Villa Encanto apartment complex in Phoenix has received $25.7 million in financing. The community is located at 4315 E. Thunderbird Road. The borrower was a company formed by CVG Properties. CBRE’s Bruce Francis, Dana Summers and Robert Ybarra arranged the financing from GS Commercial Real Estate, a limited partnership formed by Goldman Sachs &

Excel Trust Acquires Three Shopping Centers in Utah From DDR for $223M

SALT LAKE CITY — Excel Trust Inc. (NYSE: EXL), a retail real estate investment trust (REIT), has purchased three shopping centers in the Salt Lake City area from DDR Corp. (NYSE: DDR) for approximately $223 million. The three properties total approximately 1.8 million square feet. "We are pleased to reach an agreement with the team at Excel and appreciate their high level of collaboration to effectuate an off-market transaction that accrues to the benefit of both parties," says Daniel …

Louisville’s CBD Rebound Complements Suburban Office Market

The economic recovery has flipped Louisville’s office market. Historically, the central business district (CBD) has lower vacancy and higher leasing rates than the suburban office market, while new development and low barriers to entry generally kept vacancy higher in the suburbs. Now, suburban vacancy rates rest below the CBD’s, especially for Class A product. Even as speculative development returns to the suburbs, the submarket’s hot streak shows no signs of abating, and …

ENCANTO OASIS APARTMENTS IN PHOENIX SELLS FOR $1.2M

PHOENIX – The 26-unit Encanto Oasis Apartments in Phoenix has sold to a local private capital investor for $1.2 million. The community is located at 1840 West Thomas Road, across from the Encanto Golf Course. It was built in 1962. Brian Tranetzki and Rich Butler of Marcus & Millichap represented both the buyer and seller, Encanto Oasis Partners, in this

Drever Capital Refinances Seniors Housing Facility with $12.5M Loan

LEXINGTON, S.C. — Drever Capital Management has refinanced The Village at Southlake, a 122-unit independent living community in Lexington, with a $12.5 million bridge loan. CBRE’s senior housing debt and structured finance team in Houston arranged the five-year loan with two years of interest-only payments through an unnamed regional bank. Amenities of The Village at Southake include a nature and wildlife habitat preserve, large pond, walking trails, raised gardens, swimming pool, …

WHEELER REIT TO ACQUIRE RETAIL CENTER IN LEXINGTON FOR $6.1M

LEXINGTON, KY. — Wheeler REIT has assumed a contract previously entered into by Wheeler Interests LLC to acquire Bryan Station, a 67,177-square-foot retail center in Lexington, for roughly $6.1 million. Wheeler REIT expects to acquire the asset using a combination of cash and debt. The property is fully leased to tenants such as Planet Fitness, Shoe Carnival, Rent-A-Center and Cato Fashion. The retail center, built in 1995, is shadow-anchored by

FORESITE REALTY ARRANGES SALE OF INDEPENDENCE VILLAGE APARTMENTS IN OHIO

REYNOLDSBURG, OHIO — Foresite Realty Partners, through its local affiliate Foresite Realty OH LLC, has arranged the sale of a 124-unit apartment property in Reynoldsburg. Independence Village Apartments is located on more than six acres and includes studio, one- and two-bedroom apartments. The property is comprised of 16 buildings and was 92 percent leased at the time of sale. A Chicago-based investor, that was looking to diversify its portfolio, purchased the property for an undisclosed …

STREAMLINE PACKAGING RENEWS INDUSTRIAL LEASE IN FORT WORTH

FORT WORTH — Streamline Packaging Solutions LP has renewed its lease of a a 92,098-square-foot building in the SCG River Park Business Center in the Upper Great Southwest Industrial District. The 500,728-square-foot business center is 95 percent leased. Streamline has been a tenant for five years in Building B, which is fully leased. Blake Anderson and David Eseke of Cassidy Turley represented the tenant.

INDUSTRIAL WAREHOUSE IN EL SEGUNDO SELLS FOR $7.3M

EL SEGUNDO, CALIF. – A 39,306-square-foot industrial warehouse in El Segundo has sold to 291 Coral Circle Partners LLC for $7.3 million. The building is located at 291 Coral Circle. The LLC plans to convert the building into afood assembly and packaging plant for its company, Chef'd. The buyer was represented by Cardinal Investments.The seller, Hoffman Associates, was represented by JLL’s Luke Staubitz, Harvey Beesen and Andrew

GE OIL & GAS TO OPEN MANUFACTURING FACILITY IN JACKSONVILLE

JACKSONVILLE, FLA. — GE Oil & Gas plans to soon open its new 510,000-square-foot manufacturing facility in Jacksonville’s Westside submarket. The property will be located at AllianceFlorida at Cecil Commerce Center. The developer of the asset is Hillwood Property Investments, which will develop the property on land owned by the city of Jacksonville. The new facility will manufacture GE’s Mooney regulators and Becker control valves for the energy industry. The property will …

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