Property Type

Ziegler Brokers Sale of 316-Unit Seniors Housing Property in Birmingham

by John Nelson November 29, 2023

BIRMINGHAM, ALA. — Ziegler has served as sell-side financial advisor for the sale of St. Martin’s in the Pines, a 316-unit continuing care retirement community (CCRC) in Birmingham. Diversicare Healthcare Services acquired the property from the independent ownership board for an undisclosed price. Located in the eastern outskirts of the city near the Mountain Brook and Homewood suburbs, the property is near the University of Alabama at Birmingham (UAB) and the UAB hospital system. St. Martin’s in the Pines comprises a four-story independent living facility with 97 apartments, a two-story assisted living and memory care facility with 40 assisted living units and 51 memory care units, and a skilled nursing campus with 128 skilled nursing and short-term rehabilitation beds. It is the second largest skilled nursing campus in Alabama, according to Ziegler. Diversicare is recognized as a premier provider of post-acute care and is the largest skilled nursing provider in Alabama with 19 campuses in the state.

November 29, 2023

Development Industrial Texas

Creation, Crow Holdings Complete 555,790 SF Industrial Project in Mesquite, Texas

by Taylor Williams November 29, 2023

MESQUITE, TEXAS — A partnership between Phoenix-based developer Creation Equity and Crow Holdings Capital has completed Mesquite 635, an industrial project located on the eastern outskirts of Dallas that totals roughly 556,000 square feet. Mesquite 635 comprises two rear-load buildings and one front-load building. Building A spans 159,728 square feet and features 32-foot clear heights and 37 trailer parking spots. Building B comprises 156,144 square feet and offers 32-foot clear heights and 27 trailer stalls. Building C totals 239,918 square feet and features 36-foot clear heights and 46 trailer parks. LGE Design Build served as the project architect and general contractor.

November 29, 2023

Development Multifamily Texas

JPI Begins Leasing 283-Unit Apartment Community in Grand Prairie, Texas

by Taylor Williams November 29, 2023

GRAND PRAIRIE, TEXAS — Locally based developer JPI has begun leasing Jefferson Cove, a 283-unit apartment community in Grand Prairie, located roughly midway between Dallas and Fort Worth. Jefferson Cove offers one-, two- and three-bedroom floor plans that feature ceramic tile backsplashes, individual washers and dryers and private patios/balconies. Amenities include a pool, fitness center, dog park, outdoor grilling and dining stations, a conference room, resident lounge and multiple courtyards. Rents start at $1,420 per month for a one-bedroom apartment.

November 29, 2023

Industrial Leasing Activity Texas

Automotive Parts Distributor Preleases 185,413 SF Industrial Building in South Houston

by Taylor Williams November 29, 2023

HOUSTON — An undisclosed, New Jersey-based automotive parts distributor has preleased the entirety of Vault Distribution Center, a 185,413-square-foot industrial building under construction in South Houston. The standalone, rear-load warehouse sits on 12 acres and offers 32-foot clear heights, 137 surface parking spaces, 23 trailer parking stalls, 34 loading docks, two drive-in doors and an ESFR sprinkler system. Tyler Maner and Woody Hillyer of Stream Realty Partners represented the landlord, Vault Partners, in the lease negotiations. The tenant representative was not disclosed. Vault Distribution Center is on pace to be completed before the end of the year.

November 29, 2023

Industrial Leasing Activity Texas

Shearer Supply Signs 34,340 SF Industrial Lease in Fort Worth

by Taylor Williams November 29, 2023

FORT WORTH, TEXAS — Shearer Supply, a wholesaler and distributor of HVAC parts and systems, has signed a 34,340-square-foot industrial lease at Everman Trade Center in Fort Worth. The four-building, 457,745-square-foot development is located on the city’s south side and features 24- to 32-foot clear heights and 130- to 210-foot truck court depths. Ken Wesson of Lee & Associates represented the tenant in the lease negotiations. Matt Carthey and Thomas Grafton of Holt Lunsford Commercial represented the landlord, Boston-based Cabot Properties.

November 29, 2023

California Loans Multifamily Western

MWest, BGO Receive $47.5M Refinancing for The View Apartment Building in Los Angeles

by Amy Works November 29, 2023

LOS ANGELES — CIM Real Estate Debt Solutions has provided a $47.5 million loan through a CIM-managed fund to a joint venture between MWest Holdings and BGO. The borrower will use the proceeds to refinance debt on The View, a 13-story multifamily building in the Koreatown neighborhood of Los Angeles. Located at 3460 W. 7th St., The View features 158 studio, one- and two-bedroom units in a variety of floorplans. CIM Group acquired The View in August 2013 following the completion of a comprehensive renovation of the property, which was originally built in 1965. MWest and BGO purchased the asset in December 2018 after CIM Group completed a variety of improvements to the residences and the property’s leasing and management. The current owners have continued to invest in upkeep and improvements to the property, including its common areas and community amenities.

November 29, 2023

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 33,239 SF Industrial Lease in Arlington

by Taylor Williams November 29, 2023

ARLINGTON, TEXAS — Lee & Associates has negotiated a 33,239-square-foot industrial lease in Arlington. According to LoopNet Inc., the property at 2019-2025 Meridian St. was built on 3.4 acres in 1980, totals 71,973 square feet and features 22-foot clear height and 13 exterior dock doors. Mark Graybill and Reed Parker of Lee & Associates represented the landlord, Chicago-based ML Realty Partners, in the lease negotiations. Adam Curran of Cushman & Wakefield represented the tenant, Centurion Service Group, a platform that connects buyers and sellers of medical equipment.

November 29, 2023

Acquisitions Loans Office Utah Western

Alturas Capital Partners Buys 121,197 SF Sandy Commerce Park Office Building in Salt Lake City

by Amy Works November 29, 2023

SALT LAKE CITY — JLL Capital Markets has arranged the sale of and financing for Sandy Commerce Park, a Class A creative office property at 9490 S 300 West in Salt Lake City. Nuveen Real Estate sold the asset to Alturas Capital Partners for an undisclosed price. Completed in 2017, the five-story 121,197-square-foot building features 25,000-square-foot average floorplates, floor-to-ceiling glass curtain walls and 360-degree views of the Wasatch and Oquirrh mountains. At the time of sale, the property was fully leased to eight tenants with an average weighted lease term of 3.7 years. Phil Brierly and Cole Macadaeg of JLL’s investment sales and advisory team represented the seller in the deal. Mark Root and Will Haass of JLL’s debt advisory team secured a five-year, fixed-rate acquisition loan through a life insurance company for the buyer.

November 29, 2023

California Loans Retail Western

Gantry Arranges $21.6M Construction Loan for Los Angeles Retail Project

by Amy Works November 29, 2023

LOS ANGELES — Gantry has arranged $21.6 million in construction-to-permanent financing for the development of a grocery-anchored retail project in the Studio City submarket of Los Angeles. Located at 11265-11321 Ventura Blvd., the project will feature 33,700 square feet of retail space. Braden Turnbull, George Mitsanas and Austin Ridge of Gantry arranged the five-year loan, which one of the firm’s correspondent lenders provided, for the private real estate entity borrower.

November 29, 2023

Acquisitions Arizona Industrial Western

Stos Partners Acquires 49,513 SF Industrial Complex in Phoenix

by Amy Works November 29, 2023

PHOENIX — Stos Partners has purchased an industrial complex located on 3.3 acres at 620 N. 43rd Ave. in Phoenix. Auto Body Parts LLC sold the asset for $9 million, or $181.77 per square foot. The 49,513-square-foot property features 20- to 22-foot clear heights, eight dock-high doors, four drive-in, ground-level doors, 1,600 AMPS of 277/440 volt power and 4,000 square feet of office space. The property can accommodate a full-building user, a two-tenant user or three separate tenants ranging from 12,000 square feet to 49,513 square feet. Stos plans to implement a capital improvement program to stabilize and re-tenant the asset.

November 29, 2023

Newer Posts

Older Posts