HOUSTON — Northmarq has brokered the sale of Ella Plaza, an 82,073-square-foot shopping center in North Houston. The center was 90 percent leased at the time of sale, with Advance Auto Parts, CSL Plasma and the Harris County Public Health Department serving as the anchor tenants. Riley Sharman led the Northmarq team that represented the buyer, Sega Development LLC, which acquired the asset in a 1031 exchange, in the transaction. Dakota Workman of NewQuest represented the seller, locally based firm True Saga LLC. The sales price was not disclosed.
CONVERSE, TEXAS — Locally based firm Boomslang Ventures has sold Autumn Heights, a 13,949-square-foot retail strip center located in Converse, roughly 14 miles northeast of San Antonio. Built in 2020, the center was fully leased at the time of sale to tenants such as Great Clips, Marco’s Pizza, Stella Nails & Spa and Verizon Wireless. Riley Sharman of Northmarq represented the buyer, a Brooklyn-based 1031 exchange investor, in the transaction.
DALLAS — Northmarq has provided a $129.7 million Fannie Mae loan for the refinancing of The Victor, a 39-story apartment tower in the Victory Park area of Dallas. Completed in 2022, The Victor features studio, one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops and floor-to-ceiling windows, as well as built-in desks in select residences. Amenities include a pool, fitness center, game lounge, skyline terrace and a dog park. The Victor also houses 9,500 square feet of retail space. Kevin McCarthy, Jeff Frankel and Alex Czachor of Northmarq originated the financing, which was structured with a fixed interest rate and a 35-year amortization schedule, on behalf of the borrower, a joint venture between Houston-based Hines and Chicago-based Diversified Real Estate Capital.
BASTROP, TEXAS — Northmarq has arranged the sale of an 11,000-square-foot medical office building in the Central Texas city of Bastrop. Texas Oncology occupies the facility, which was originally built in 2009, on a triple-net basis. Jeff Matulis, Toby Scrivner and David Annett of Northmarq represented the seller, Dallas-based Blue Drake Capital, in the transaction and procured the buyer, Maple Street Management. Jada Purchase, also with Northmarq, arranged an undisclosed amount of acquisition financing for the deal.
HERSHEY, PA. — Northmarq has provided a $19.2 million Fannie Mae loan for the refinancing of Rosedale Apartments, a 160-unit apartment complex in Hershey, located just outside of Harrisburg. Built on 30 acres in 1972, Rosedale offers one- and two-bedroom units and amenities such as a pool, fitness center, dog park, tennis court and common green spaces. John Banas and Kris Wood of Northmarq originated the 10-year loan on behalf of the borrower, locally based investment firm Boyd Wilson.
LANCASTER, PA. — Northmarq has provided a $20.1 million Fannie Mae loan for the refinancing of Pioneer Woods, a 160-unit apartment complex in Lancaster, about 80 miles west of Philadelphia. Built on 30 acres in 1974, Pioneer Woods offers one-, two- and three-bedroom apartments, as well as two-bedroom townhomes. Amenities include two playgrounds, a grilling and picnic area, pet stations and common green spaces. John Banas and Kris Wood of Northmarq originated the 10-year loan on behalf of the borrower, locally based investment firm Boyd Wilson.
ROCHESTER, N.Y. — Northmarq has provided a $14 million Fannie Mae loan for the refinancing of Windsor Gardens, a 296-unit apartment community in Rochester. Built in 1972 and renovated in 2002, Windsor Gardens offers studio, one-, two- and three-bedroom units. Amenities include a fitness center, conference room, clubhouse, video library and onsite laundry facilities. Robert Ranieri of Northmarq originated the 10-year loan on behalf of the borrower, an entity doing business as Windsor Associates LP.
NEW YORK CITY — Northmarq has provided a $12.9 million Fannie Mae loan for the refinancing of a 35-unit apartment building located at 49 Ludlow St. in Manhattan’s Lower East Side that was originally constructed in 2000. According to Apartments.com, the elevator-served building offers two- and three-bedroom units, with private terraces available in select residences, as well as onsite laundry facilities. Tom Peloquin led the Northmarq team that originated the 10-year loan on behalf of the borrower, an entity doing business as The Downtown Apartments LLC.
NEW YORK CITY — Northmarq has provided a $50 million Fannie Mae loan for the refinancing of Tompkins Square Plaza, a 124-unit apartment building located at 190 E. 7th St. in Manhattan’s East Village area. The transit-served, doorman-equipped building was originally constructed in 1998 and offers two- and three-bedroom units, as well as a fitness center and rooftop terrace. Tom Peloquin led the Northmarq team that originated the 10-year loan on behalf of the borrower, The Downtown Apartments LLC.
WAXAHACHIE, TEXAS — A partnership between Denver-based Quannah Partners and Dallas-based VaultCap Partners has sold The Townhomes at Bluebonnet Trails, a 114-unit multifamily property located in the southern Dallas suburb of Waxahachie. The property offers three- and four-bedroom residences with private patios/balconies as well as various outdoor amenities. Eric Stockley, Taylor Snoddy and Charles Hubbard of Northmarq arranged the sale of the property. The buyer and sales price were not disclosed.
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