GEORGETOWN, LEANDER AND AUBREY, TEXAS — Walker & Dunlop has arranged the $117.3 million refinancing across multiple loans for a portfolio of three apartment communities totaling 960 units in Texas. Two of the properties — the 312-unit Austin Avenue and the 312-unit Aven Ridge — are located in the northern Austin suburbs of Georgetown and Leander, respectively. The third property, the 336-unit Latitude Magnolia, is located just north of the metroplex in Aubrey. The Austin-area communities were built in 2021 and 2022, respectively, and both offer one-, two- and three-bedroom units, while Austin Avenue also offers studio apartments. Latitude Magnolia was completed in 2021 and offers one- and two-bedroom units. Jordan Casella, Aaron Appel, Adam Schwartz, Jonathan Schwartz, Keith Kurland, Christopher de Raet and Nicholas Gilhooley of Walker & Dunlop arranged the floating-rate, interest-only loans through Benefit Street Partners. The borrower was an undisclosed institutional investment group.
HOUSTON — Austin-based developer Freehill Co. has broken ground on an 809,220-square-foot industrial project in northwest Houston. The project, which represents Phase I of a larger development known as Fairbanks Landing, is a build-to-suit for Power Electronics, a manufacturer of solar inverters, electric vehicle chargers and other energy-oriented devices. Phase I will consist of two buildings that are expected to be complete in the third quarter of next year. Phase II of Fairbanks Landing will comprise two additional buildings totaling 834,720 square feet that will be developed on speculative bases and are slated for a fourth-quarter 2027 delivery. JLL is marketing Phase II for lease.
FAIRFIELD AND VACAVILLE, CALIF. — Newmark has brokered the sale of NorthBay Health Medical Outpatient Building Collection in Northern California’s Solano County. Totaling 222,073 square feet, the six fully leased healthcare buildings are located in Fairfield and Vacaville, Calif. NorthBay Health fully occupies the portfolio, which comprises five medical outpatient facilities and NorthBay Health’s office headquarters. HealthCare Foundation acquired the portfolio for $130 million. Ben Appel, Justin Shepherd, Jay Miele, John Naro, Michael Greely and Ron Ott of Newmark advised the undisclosed seller in the deal.
DENVER — Colliers Denver Investment Services Group has arranged the sale of 4001 Holly Street, a multi-tenant industrial building on 2.5 acres in Denver’s North Central submarket. DMS Real Estate sold the asset to Watumull Properties Corp. for $8.5 million. T.J. Smith, Nick Rice and Brad Calbert of Colliers Denver Investment Services Group represented the seller in the deal. At the time of sale, the 53,740-square-foot property was fully leased to three tenants. The building is demised into five small-bay units, each with dock-high and drive-in loading, and includes a fenced, paved and lighted outdoor storage yard.
HOUSTON — Levey Group will develop a 445,750-square-foot industrial project in northeast Houston that will be known as Levey East Belt. The locally based owner-operator has assembled 30 acres at the intersection of Beltway 8 and Tidwell Road with plans to construct a 270,400-square-foot front-load building and two rear-load buildings spanning 131,250 and 44,10 square feet. Levey expects to complete the permitting and approvals process in the first quarter of next year and to spend about 11 months constructing the project, putting delivery on track for early 2028. Cushman & Wakefield is marketing the project for lease.
SAN DIEGO — Pacific Coast Commercial has arranged the sale of an office property located at 2831 Camino del Rio S in San Diego. An entity doing business as Camino Del Rio South LLC sold the asset to 2381 Camino Del Rio South LLC for $6.2 million. Tommas Golia, Jason Vieira and Colton Speas of Pacific Coast Commercial represented the seller, while the buyer was self-represented in the deal. Stewart Title Guaranty Co. handled escrow and title services for the transaction.
RANCHO CUCAMONGA, CALIF. — Progressive Real Estate Partners has negotiated the $6 million sale of Allmark Plaza, a 16,926-square-foot retail center located in Rancho Cucamonga. Built in 1986, Allmark Plaza was fully leased at the time of sale to tenants including Domino’s Pizza, Mini-Mart, a nutrition shop, Mexican restaurant, diet center, salon, donut shop, day spa, dry cleaners and a dental office. Lance Mordachini and Monica Dal Bianco-West of Progressive represented the buyer, a California-based private investor. The seller, Allmark Property Management, represented itself.
HUMBLE, TEXAS — Marcus & Millichap has brokered the sale of a 73-room Hampton Inn & Suites hotel in Humble, a northern suburb of Houston. The hotel was in 2016 and offers amenities such as an outdoor pool, fitness center, meeting rooms and a breakfast area. Rajan Patel, Skyler Cooper, Chris Gomes and Allan Miller of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
WOODCLIFF LAKE, N.J. — Cushman & Wakefield has brokered the $109.5 million sale of Tice’s Corner, a lifestyle shopping center located in the Northern New Jersey community of Woodcliff Lake. The square footage was not disclosed, but according to the brokerage team, the sale represents “one of New Jersey’s largest single-asset retail transactions of the past decade.” Tenants include The Apple Store (anchor), Pottery Barn, Anthropologie and Free People. Joanna Manfro of Cushman & Wakefield represented the buyer, Boston-based owner-operator WS Development, in the transaction. David Waldman of David Adam Realty represented the seller, an institutional owner doing business as WS Tice’s Inc.
COMMACK, N.Y. — New Jersey-based intermediary Cronheim Mortgage has arranged a $70 million acquisition loan for the 221,000-square-foot Mayfair Shopping Center in Commack, located on Long Island. Built in 1958, the center was 99 percent leased at the time of sale. Lidl, Planet Fitness and PGA Tour Superstore are the anchors, and other tenants include Gap, Sephora, J.Crew Factory, H&R Block, Tropical Smoothie Café and MyGym. Allison Villamagna and Andrew Stewart of Cronheim represented the seller in the disposition of the center and simultaneously arranged the loan through Voya Investment Management on behalf of the buyer, New York-based REIT Brixmor Property Group.
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