Office

HFF Arranges $38.1M in Equity for Manhattan Office Property

by Amy Works May 22, 2015

NEW YORK CITY — HFF has arranged a $38.1 million preferred equity investment in an office property located at 95 Morton St. in Manhattan’s Midtown South neighborhood. HFF worked on behalf of the owner, Brickman, to secure the preferred equity through a national REIT for the 205,000-square-foot Class A property. The capital will be used to complement existing low-leverage financing, support further lease-up and allow for additional base building capital improvements. Originally built in 1911, the property was renovated in 2000 and is 88 percent occupied by a variety of technology, advertising, media and information tenants. Jay Marshall, Christopher Peck and David Fowler of HFF secured the financing for the borrower.

May 22, 2015

Massachusetts Northeast Office Retail

ELV Associates Sells Long Wharf in Boston to Capital Properties for $34M

by Amy Works May 22, 2015

BOSTON — ELV Associates has sold the Long Wharf, a two-building office and retail property in Boston, to Capital Properties for $34 million. Totaling 77,600 square feet, Long Wharf comprises the five-story Custom House Block and the adjacent four-story Gardiner Building. At the time of sale, the property was 98 percent occupied by a variety of tenants, including AECOM and Chart House restaurant. Robert Griffin, Edward Maher, Matt Pullen, Geoffrey Millerd and Justin Smith of Cushman & Wakefield represented the seller in the transaction.

May 22, 2015

Methodist-Physicians-PlazaII-San-Antonio

Office Texas

Rendina Acquires On-Campus MOB in San Antonio

by Haisten Willis May 21, 2015

SAN ANTONIO — Rendina Healthcare Real Estate has acquired Physicians Plaza II, a 63,905-square-foot medical office building on the campus of the Methodist Specialty & Transplant Hospital (MSTH) in San Antonio. The facility is located within the 900-acre South Texas Medical Center. Rendina’s immediate plans for the property include suite and common area renovations. MSTH, which has direct access to Physicians Plaza II via a covered walkway, is home to the Texas Transplant Institute, the busiest kidney transplant program in Texas and among the top 10 in the nation.

May 21, 2015

Loans Office Texas

HFF Secures Refinancing for Three Dallas Market Center Buildings

by Haisten Willis May 21, 2015

DALLAS — HFF has secured financing for three buildings totaling 3.3 million square feet in the Dallas Market Center. HFF worked on behalf of Crow Holdings to secure the loan for the World Trade Center and Dallas Trade Mart through Goldman Sachs Mortgage Co., and the financing for the International Trade Plaza through Commercial Bank. Composed of the World Trade Center, Dallas Trade Mart, International Trade Plaza and Market Hall, the 110-acre Dallas Market Center (DMC) is the largest wholesale market center in the world, totaling more than 5.5 million square feet. More than 1,200 tenants in categories including women’s, men’s and children’s fashion and accessories, jewelry, lighting, rugs, home accents and toys rent space in the DMC buildings. The buildings are located at 2000, 2050 and 2100 Stemmons Freeway (Interstate 35) in northwestern Dallas close to Dallas-Love Field airport. Market Hall is not included in the financing. Jody Thornton, Andy Scott, Jim Curtin and Gay Thomas led the HFF debt placement team representing the borrower.

May 21, 2015

Arizona Office Western

Dunbar Purchases Arrowhead Business Center in Glendale for $5.6M

by Nellie Day May 21, 2015

GLENDALE, ARIZ. – Dunbar Real Estate Investment Management has purchased Arrowhead Business Center, a 43,915-square-foot office campus in Glendale, for $7 million. The three-building campus is located at 7025, 7055 and 7075 West Bell Road. It was 88.9 percent occupied at closing. Dunbar purchased the asset through its investment advisor AEGON USA Realty Advisors LLC. The seller, Warranty of America, was represented by DTZ’s Bob Buckley, Tracy Cartledge, Steve Lindley and Ben Geelan.

May 21, 2015

California Office Western

LoanDepot Expands in Orange County

by Nellie Day May 21, 2015

IRVINE, CALIF. – LoanDepot has doubled the size of its largest online direct-lending production center in Orange County. The consumer lender increased its space from 131,267 square feet to 238,732 square feet. It now maintains a total of 885,162 square feet of office space nationwide. The company has direct-lending production centers in Plano, Texas, Brentwood, Tenn., and Scottsdale, Ariz. The company also plans to hire an additional 1,000 employees.

May 21, 2015

California Office Western

Kinetic Content Leases 57,000 SF of Office Space in Los Angeles

by Nellie Day May 21, 2015

LOS ANGELES – Kinetic Content has leased 57,000 square feet of creative office space in Los Angeles. The television production company leased 37,000 square feet at 11755 Wilshire Blvd. It will be expanding at this property. The second new lease includes 20,000 square feet just down the street at 12100 Wilshire Blvd. Kinetic Content was represented by Jacob Bobek and Jeff Vertun of Avison Young. CBRE represented the landlord, CalSTRS, in the first lease transaction. The second landlord, Hines, represented itself.

May 21, 2015

Georgia Office Southeast

Atlanta Property Group Buys Office Campus in Buckhead

by John Nelson May 21, 2015

ATLANTA — Atlanta Property Group (APG), an Atlanta-based real estate investment firm, has closed on its acquisition of Securities Centre, a two-building, 531,000-square-foot office campus in Atlanta’s Buckhead submarket. The campus is located at 3490 and 3500 Piedmont Road near the intersection of Piedmont and Lenox roads. APG purchased the office complex from LNR Partners, which had foreclosed on the property in November 2011. APG has purchased 10 office properties spanning 3 million square feet in the metro Atlanta area since mid-2010. APG will lease and manage Securities Centre, with plans to complete a multi-million dollar renovation to the property during its first year of ownership. JLL represented LNR Partners in the transaction.

May 21, 2015

Loans Massachusetts Northeast Office

CBRE/NE Arranges Sale, Acquisition Financing for 186 Lincoln Street in Downtown Boston

by Amy Works May 21, 2015

BOSTON — CBRE/New England has arranged the sale of 186 Lincoln Street, an office building located in Boston’s South Station micro market. Morris & Morse Co. sold the property to New York-based Brickman Real Estate for $20.6 million. At the time of sale, the 68,526-square-foot property was 70 percent occupied by a variety of tenants, including Roche Diagnostics, Full Contact and Greystone Solutions. Chris Angelone, John Meador, Bruce Lusa and Jessica Dowd of CBRE/NE represented the seller in the transaction. Carlos Febres-Mazzei, Kyle Juszczyszyn, Alex Bradley and Taylor Shepard of CBRE/NE’s Debt & Structured Finance team secured acquisition financing for the buyer.

May 21, 2015

Loans Office Texas

NorthMarq Capital Arranges $16.4M Refinance of Office Property in San Antonio

by Haisten Willis May 20, 2015

SAN ANTONIO — Bryan Leonard of NorthMarq Capital’s San Antonio office has secured the $16.4 million refinance of The Terrace at Concord Park, a 161,563-square-foot office property located at 607 and 777 E. Sonterra Blvd. in San Antonio. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with Nationwide Insurance. The property’s tenant roster includes State Farm, Wells Fargo, Schlumberger and Ryland Homes.

May 20, 2015

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