REBusinessOnline

Morgan Properties Enters Nashville Market with $91M Multifamily Portfolio Acquisition

NASHVILLE, TENN. — Morgan Properties has acquired a four-property, 826-unit multifamily portfolio in Nashville for $91 million. Cardone Capital sold the garden-style properties, which include Hickory Creek, Lincoya Bay, Sheffield Heights and Jackson Grove. The transaction is the first acquisition in Tennessee for Morgan Properties, a national real estate investment and management company headquartered in King of Prussia, Penn. “Entering Nashville is a major milestone for Morgan …

Acquisitions, Multifamily, Southeast, Tennessee, Top Stories

Trinity Bluff Hospitality Acquires Land in Downtown Fort Worth to Develop 100-Room Hotel

FORT WORTH, TEXAS — Trinity Bluff Hospitality LLC has acquired 1.5 acres in downtown Fort Worth’s Trinity Uptown neighborhood with plans to construct a 100-room Avid hotel. Austin Reilly of Land Advisors Organization arranged the transaction on behalf of the seller, Trinity Bluff Development Ltd. Avid is a newer concept from InterContinental Hotels Group (IHG). These hotels feature 24-hour coffee bars, breakfast on the go and a 24-hour market. A construction timeline for the new location …

Development, Hospitality, Texas

City of Garland Approves 21,000 SF Expansion for Automotive Manufacturing Facility

GARLAND, TEXAS — The City of Garland has approved a 21,000-square-foot expansion for Kirchoff Automotive at its industrial facility located at 3901 W. Miller Road. The project will expand the German automotive components manufacturer’s operations from 94,000 to 115,000 square feet. As part of the project, Kirchoff will invest $20 million in the acquisition and installation of new advanced machinery and equipment at the site. The expansion will begin in April 2019, and the facility is …

Development, Industrial, Texas

NAI Robert Lynn Arranges 17,300 SF Office Lease for Engineering Firm’s Headquarters in Dallas

DALLAS — NAI Robert Lynn has arranged a 17,300-square-foot lease for EJES Inc. at North Central Plaza III in Dallas. The civil engineering and land development firm will move its headquarters from another office in Dallas to the new space, located at 12801 Central Expressway, in November. Kent Smith of NAI Robert Lynn negotiated the lease on behalf of EJES. Onsite amenities at North Central Plaza include a deli, complimentary weekly shoe shine, a fitness center, conference center and a …

Leasing Activity, Office, Texas

HFF Secures Loan for Refinancing of 137-Unit Apartment Community in Houston

HOUSTON — HFF has secured a five-year loan for the refinancing of 4 Eighty West Parker, a 137-unit apartment community in Houston. Cortney Cole and Sterling Curry of HFF arranged the fixed-rate loan with two years of interest-only payments through Green Bank on behalf of the borrower, TriArc Properties. The loan amount was not disclosed. The property includes 12 two-story buildings with units averaging 906 square feet. Community amenities include a pool, picnic area, playground, clubhouse …

Loans, Multifamily, Texas

Baker Katz Arranges Two Leases for FedEx Office Totaling 5,600 SF in Greater Houston Area

HOUSTON AND PASADENA, TEXAS — Baker Katz has arranged two leases for FedEx Office in Houston and Pasadena. In Houston, Lunden McGill of Baker Katz secured a 10-year lease for the retailer at 10550 Westheimer Road. Chace Henke of Edge Capital Markets represented the owner in the lease negotiations. In Pasadena, located roughly 15 miles southeast of Houston, McGill secured a five-year, 1,800-square-foot lease for a store at 3425 Spencer Highway. Brian Ellisor of Red Oak Commercial represented …

Leasing Activity, Office, Texas

Kaufman Lynn Breaks Ground on $150M Headquarters Expansion for South Florida-Based Automotive Company

DEERFIELD BEACH, FLA. —  Kaufman Lynn Construction (KL) has broken ground on a $150 million headquarters renovation and expansion for JM Family Enterprises in Deerfield Beach. JM Family Enterprises is a privately owned automotive company whose subsidiaries include Southeast Toyota Distributors, JM&A Group and JM Lexus. The renovation will take place over the next three years. KL will demolish seven of the campus’ existing buildings, and will build eight new structures, including three …

Development, Florida, Office, Southeast

JBG Smith Sells Office Building in D.C.’s East End to Exan Capital for $121.4M

WASHINGTON, D.C. — JBG Smith has sold Executive Tower, a 130,000-square-foot office building in Washington, D.C. Exan Capital acquired the asset for $121.4 million. The 11-story building is located at 1399 New York Ave. in D.C.’s East End submarket. Collins Ege and Nicholas Pappas of Eastdil Secured arranged the transaction on behalf of JBG Smith. Executive Tower was 93 percent leased as of June

Acquisitions, District of Columbia, Office, Southeast

Camden Property Trust Acquires New Apartment Community in Orlando for $90M

ORLANDO, FLA. — Camden Property Trust has acquired a newly constructed apartment community in downtown Orlando for $90 million. The nine-story property, formerly known as 420 East, includes 299 units and features a pool, 24-hour concierge, retail space and a three-story parking garage. Camden will rename 420 East as Camden Thornton Park. The community includes a mix of one- to three-bedroom units with monthly rents ranging from $1,741 to $3,369, according to

Acquisitions, Florida, Multifamily, Southeast

Third & Urban, FCP Unveil Plans for 160,000 SF Mixed-Use Redevelopment in Nashville

NASHVILLE, TENN. — Third & Urban and FCP have acquired the former Madison Mill, located along Charlotte Avenue in Nashville, with plans to redevelop the site into a 160,000-square-foot office and retail project. Dubbed Sylvan Supply, the project will be divided into six buildings connected by open corridors and terraces, providing outdoor workspaces for tenants. The development will feature 130,000 square feet of creative office space with open floor plans, large windows and outdoor …

Development, Mixed-Use, Office, Southeast, Tennessee
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