Gaia Real Estate Sells 1,376-Unit Northwest Houston Multifamily Portfolio

HOUSTON — New York City-based investment firm Gaia Real Estate has sold The Copperfield Portfolio, a collection of five multifamily properties in northwest Houston totaling 1,376 units. Gaia acquired the properties in 2015 and implemented a value-add program. Renovations included upgrades of amenity spaces such as pools, clubhouses, fitness centers, children’s play areas and laundry centers, as well as new flooring, cabinets, appliances and countertops to the interiors of select units. The …

May 23, 2022Acquisitions, Multifamily, Texas

Jackson-Shaw to Develop 536,992 SF Industrial Project in Southwest Houston

HOUSTON —North Texas-based Jackson-Shaw will develop Post Oak Logistics Park, a 536,992-square-foot industrial project that will be located in southwest Houston. Post Oak Logistics Park will comprise a 168,893-square-foot front-load building and a 368,099-square-foot cross-dock building. The typical bay is 56 feet by 50 feet, with 130- to 185-foot truck courts and ample trailer storage. An affiliate of Greystar is Jackson-Shaw's equity partner on the project. Rosenberger Construction is the …

May 23, 2022Development, Industrial, Texas

CBRE Preleases 169,011 SF Spec Industrial Building in El Paso

EL PASO, TEXAS — CBRE has preleased a 169,011-square-foot industrial building located in El Paso’s Far East submarket to an undisclosed logistics user. Mississippi-based EastGroup Properties is developing the speculative property, which sits on 12.6 acres, with completion slated for July. Building features include 32-foot clear heights, 135-foot truck court depths and parking for 163 cars and 50 trailers. Bill Caparis and Andre Rocha of CBRE represented EastGroup Properties in the lease …

May 23, 2022Industrial, Leasing Activity, Texas

Lument Provides $22.6M Acquisition Loan for Junction Apartments in Arlington

ARLINGTON, TEXAS — Lument has provided a $22.6 million bridge loan for the acquisition of The Junction, a 252-unit apartment community in Arlington. The garden-style property was built in 1970 and comprises 28 buildings, a leasing office and a laundry facility. Amenities include a pool, outdoor grilling areas, dog park and a playground. The sponsor, American Ventures, plans to use a portion of the proceeds to fund capital improvements. Ted Nasca led the transaction for

May 23, 2022Loans, Multifamily, Texas

Colliers Brokers Sale of 48,000 SF Industrial Facility in Metro Houston

HUMBLE, TEXAS — Colliers has brokered the sale of a 48,000-square-foot industrial facility in northeastern Houston suburb of Humble. The property comprises four buildings on a 3.3-acre site. Tom Condon Jr. of Colliers represented the seller, R.B. Machine Works, in the transaction. Patrick Swint of Knightsbridge Ventures represented the buyer, an entity doing business as 2407 Wilson

May 23, 2022Acquisitions, Industrial, Texas

MassHousing Provides $205M in Financing for 10 Affordable Seniors Housing Communities

BOSTON — MassHousing has provided $205 million in financing for 10 affordable seniors housing communities totaling 931 units that are located in various parts of Massachusetts. The borrower, Providence Realty Investment LLC, will use the proceeds to refinance existing debt and preserve affordability. Providence Realty Investment previously utilized $125 million from MassHousing to purchase the communities in 2011. At that time, nearly a third of the 931 apartments involved were at risk of …

May 23, 2022Affordable Housing, Loans, Massachusetts, Multifamily, Northeast, Seniors Housing

Anchor Line, Northwood Top Out 215,000 SF Life Sciences Building Near Boston

CAMBRIDGE, MASS. — A partnership between Boston-based developer Anchor Line Partners and international asset management firm Northwood Investors has topped out 60 First Street, a 215,000-square-foot life sciences project located across the Charles River from Boston in Cambridge. The five-story property, which is a redevelopment of the former Sears building, includes ground-floor retail space and has been fully preleased. Biotech startup Prime Medicine has committed to 148,000 square feet …

May 23, 2022Development, Life Sciences, Massachusetts, Northeast

CBRE Brokers $28.5M Sale of Office Building in Brookhaven, New York

BROOKHAVEN, N.Y. — CBRE has brokered the $28.5 million sale of 5000 Corporate Court, a 264,482-square-foot office building in Brookhaven, located on Long Island. Tenants include the Internal Revenue Service and U.S. Citizenship & Immigration Service. Jeffrey Dunne, Steven Bardsley, Jeremy Neuer, Stuart MacKenzie, Travis Langer and Philip Heilpern of CBRE represented the seller, Office Properties Income Trust, in the transaction. CBRE also procured the buyer, Northpath

May 23, 2022Acquisitions, New York, Northeast, Office

Nordblom Breaks Ground on 167-Unit Multifamily Project in Metro Boston

BURLINGTON, MASS. — Developer Nordblom Co., in partnership with Life Time Living, has broken ground on a 167-unit multifamily project in Burlington, a northern suburb of Boston. Residents will have access to memberships at the adjacent athletic resort, concierge services and work-from home amenities. The property is situated within the 150-acre Northwest Park mixed-use development and will include an affordable housing component. Completion is slated for summer …

May 23, 2022Development, Massachusetts, Multifamily, Northeast

Puttshack to Open 26,000 SF Entertainment Venue in Philadelphia

PHILADELPHIA — Puttshack, an entertainment concept that combines mini golf with food and beverages, will open a 26,000-square-foot entertainment venue in Philadelphia. The facility will be located within The Shops at Liberty Place in the Center City district and will house four tech-driven courses, two bars and private event space. The opening is slated for summer 2023. Metropolis Investment Holdings Inc. owns the property. Puttshack currently operates facilities in Atlanta and Chicago and …

May 23, 2022Leasing Activity, Northeast, Pennsylvania, Retail