APPLE VALLEY, CALIF. — Preston-Lee Management Co. has opened the San Bernardino County Behavioral Health Apple Valley Community Clinic on Highway 18 in Apple Valley. The 28,000-square-foot mental health facility offers counseling and outpatient services to the High Desert community. The new county building will serve as the High Desert headquarters for the Department of Behavioral Health. San Bernardino County is planning to centralize other affiliates of the Department of Behavioral Health, which are currently dispersed throughout the valley. By housing the departments and their affiliates in an expanded, central location, the new facility will improve efficiency and offer a more streamlined process for residents. Along with counseling and outpatient services, a 24-hour crisis hotline will be among the new services available in the complex. Preston-Lee Management Co. is an affiliate company of Lee & Associates Inland Empire North.
DENVER — NAI Shames Makovsky has brokered the sale of a 38,852-square-foot office building in Denver. 2755 S. Locust LLC purchased the asset for $5.1 million. The space is located at 2755 S. Locust St. The building underwent a $1.4 million modernization in 2018 that included common areas, restrooms, HVAC, LED lighting and exterior painting. Todd Snyder with NAI Shames Makovsky represented the buyer, which intends to operate the office building as-is. Joshua Cohen and John V. Propp of John Propp Commercial Group represented the seller, Ironton Investments.
LAKEWOOD, COLO. — JLL Capital Markets has arranged a refinancing loan for the 281-unit Traverse Apartments in Lakewood. The loan features a fixed rate. Further details on the financing, including the amount, were not disclosed. The Class A luxury apartment community is located at 5495 W 10th Ave. Built in 2022, Traverse Apartments features studio, one- and two-bedroom units. JLL worked on behalf of the developer, a joint venture between Trailbreak Partners and Highland Development Co., to secure the Fannie Mae loan. JLL Real Estate Capital will service the loan. Rob Bova led the JLL Capital Markets Debt Advisory team.
PLANTATION, FLA. — JLL Capital Markets has arranged the sale of Cornerstone Corporate Center I, a 170,172-square-foot, multi-tenant office building in Plantation, just west of Fort Lauderdale. Situated on 9.1 acres, the property was 80 percent leased at the time of sale to tenants including Marriott International, Morgan Stanley and MetLife. Amenities at the building include a covered parking deck, gym, café and access to nearby restaurants. Hermen Rodriguez, Ike Ojala, Matthew McCormack, Max Lescano and Blake Koletic of JLL represented the seller, an entity doing business as The AFL-CIO Building Investment Trust, advised by PNC Realty Investors. PIR Corner LLC acquired the property for an undisclosed price.
JEFFERSON, GA. — Berkadia has arranged a $45 million loan for the acquisition of Prose Concord, a 300-unit apartment community in Jefferson, roughly 60 miles northeast of Atlanta. Located at 575 Concord Road, the community comprises one- and two-bedroom units ranging in size from 836 to 1,188 square feet. Amenities at the property include a swimming pool, clubroom with a catering kitchen, entertainment lounge, business center with coworking spaces, landscaped courtyards, concierge package locker system, fitness center and pet park. \ Scott Wadler, Matt Nihan and Mitch Sinberg arranged the Freddie Mac financing on behalf of the buyer, an affiliate of Coral Gables, Fla.-based Beacon Real Estate Group. The loan carries a 10-year term with a fixed-rate and five years of interest-only payments. The seller was not disclosed.
ATLANTA — EverWest Real Estate Investors has sold a five-building industrial portfolio in metro Atlanta for $50 million. Taurus Investment Holdings purchased the properties, which total 581,750 square feet. The portfolio is fully leased to tenants including Steelcase Inc., Bonded Services and Heritage Crystal Clean. Matt Wirth of JLL represented EverWest in the transaction.
CHESTER, VA. — A joint venture partnership between a fund managed by Red Rock Developments and a fund managed by Westport Capital Partners has sold a distribution center located at 1400 Digital Drive in Chester, roughly 20 miles southeast of Richmond. The 353,044-square-foot property was fully leased at the time of sale to CCBCC Operations LLC, which Coca-Cola Consolidated Inc. owns. Eric Robison and Bo McKown of Cushman & Wakefield | Thalhimer with Jonathan Carpenter and Graham Savage of Cushman & Wakefield’s Industrial Advisory Group arranged the sale. Bailard Real Estate Fund acquired the property for an undisclosed price.
NEWPORT NEWS, VA. — The BLVD Group is underway on the $13.5 million redevelopment of Aqua Vista Apartments, a 150-unit affordable housing community in Newport News. Built in 1970, the property will undergo improvements including updates to the building envelope, new finishes throughout the units and expanded amenities such as a grilling area, playground, dog park, business center and community room. BLVD also plans to convert the building systems from gas to electric power and seek the Enterprise Green Communities certification upon completion of the redevelopment. BLVD is the developer, with Hooker De Jong Architects and Metro Group Services serving as the architect and general contractor on the project, respectively. Enterprise Communities is the equity partner, and Virginia Housing is the construction lender. The redevelopment will preserve the affordability status of the community through 2072, with units reserved for individuals and families earning 60 percent or less of the area median income (AMI).
DALLAS — Northmarq has provided an undisclosed amount of Fannie Mae financing for Oasis Apartments, a 506-unit multifamily community in North Dallas. The seven-year, fixed-rate bridge loan carries a 35-year amortization schedule and takes out existing debt. Oasis Apartments features one-, two- and three-bedroom units, with private balconies/patios available in select residences. Amenities include a pool, fitness center, clubhouse, picnic areas and a playground. James Currell and Kyle Summerford of Northmarq originated the financing on behalf of the borrower, locally based investment firm Willowood Group.
DALLAS — Colliers has negotiated a 393,625-square-foot industrial lease in West Dallas. According to LoopNet Inc., the property at 3700 Pinnacle Point Drive was built in 2001 and spans roughly 1 million square feet. James Min, Brad Balke, Chris Teesdale and Tom Pearson of Colliers represented the tenant, Kumho Tire, in the lease negotiations. Southern California-based investment firm Cohen Asset Management owns the property in partnership with Dallas-based Lincoln Property Co. The deal brings the building to full occupancy.