Property Type

Northmarq Arranges $22.5M Refinancing of Shopping Center in Huntsville

by John Nelson January 9, 2023

HUNTSVILLE, ALA. — Northmarq has arranged a $22.5 million refinancing loan for Village on Whitesburg, a 118,356-square-foot shopping center located at 4800 Whitesburg Drive SE in Huntsville. Randy Wolfe of Northmarq’s Atlanta office secured the permanent, fixed-rate loan, which features a seven-year term and 25-year amortization schedule, through an unnamed regional bank. The borrower was also not disclosed. The Fresh Market anchors Village on Whitesburg, and other tenants include AT&T, Bonefish Grill, Drake’s, Nadeau, Panera Bread and Learning Express.

January 9, 2023

Acquisitions Florida Multifamily Southeast

IPA Arranges Sale of 300-Unit Canterbury Cove Apartments in Orlando

by John Nelson January 9, 2023

ORLANDO, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Canterbury Cove, a 300-unit multifamily community located in Orlando. Built in 2006, the property comprises 14 buildings with apartments in one-, two- and three-bedroom layouts, with an average unit size of 1,026 square feet. Amenities at the community include a pool, sundecks, an outdoor kitchen and grill, a fitness studio, playground, game room and lounge. Justin Basquill, Luke Wickham and Sean Williams of IPA represented the undisclosed seller, a limited liability company, and procured the buyer, a fund manager.

January 9, 2023

Acquisitions Multifamily Student Housing Texas

TSB Realty Negotiates Sale of 296-Bed Student Housing Community in Austin

by Taylor Williams January 9, 2023

AUSTIN, TEXAS — TSB Realty has negotiated the sale of 21 Rio, a 296-bed student housing community located near the University of Texas at Austin. Built in 2009, the 21-story property features one-, two- and three-bedroom units and 2,680 square feet of ground-floor retail space. Amenities include a 24-hour fitness center, rooftop pool with a sundeck, resident lounge and a convenience store. Nimes Real Estate purchased the property from a joint venture between CA Student Living and Principal Real Estate for an undisclosed price. TSB Capital Advisors also arranged acquisition financing on behalf of the buyer.

January 9, 2023

Acquisitions Industrial Self-Storage Texas

Versal Arranges Sale of 257-Unit Self-Storage Facility in Del Valle, Texas

by Taylor Williams January 9, 2023

DEL VALLE, TEXAS — Self-storage brokerage firm Versal has arranged the sale of FM 812 Storage, a 257-unit facility in Del Valle, a southeastern suburb of Austin. The facility spans approximately 43,250 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the buyer, an Austin-based family partnership, in the transaction. The seller and sales price were not disclosed.

January 9, 2023

Affordable Housing Loans Multifamily Texas

Basis Multifamily Finance Provides $12.1M Agency Refinancing of East Texas Affordable Housing Property

by Taylor Williams January 9, 2023

NACOGDOCHES, TEXAS — Basis Multifamily Finance, a subsidiary of New York City-based Basis Investment Group, has provided an $12.1 million Freddie Mac loan for the refinancing of Sunridge Apartments, an affordable housing property located in the East Texas city of Nacogdoches. The property offers one-, two- and three-bedroom floor plans and amenities such as a pool, fitness center, business center and onsite laundry facilities. The sponsor was New Jersey-based Ambo Properties. Sunridge was 93 percent occupied at the time of the loan closing.

January 9, 2023

Acquisitions Multifamily Seniors Housing Texas

Franklin Park Senior Living Sells 112-Unit Assisted Living Facility in Richardson, Texas

by Taylor Williams January 9, 2023

RICHARDSON, TEXAS — Texas-based owner-operator Franklin Park Senior Living has sold Appletree Court, a 112-unit assisted living facility in Richardson, a northeastern suburb of Dallas. The property was built in 1999 and was 90 percent occupied at the time of sale. Richard Swartz, Jay Wagner, Jim Dooley and Jack Griffin of Cushman & Wakefield represented Franklin Park in the transaction. The buyer was a partnership between Winterpast Capital Partners and Marcus Investments. Cushman & Wakefield also arranged acquisition financing through a regional lender for the deal.

January 9, 2023

Leasing Activity Retail Texas

BigShots Golf to Open 50,000 SF Entertainment Center in Grand Prairie, Texas

by Taylor Williams January 9, 2023

GRAND PRAIRIE, TEXAS — BigShots Golf, a Dallas-based, tech-driven sports entertainment concept, will open an approximately 50,000-square-foot center in Grand Prairie, located roughly midway between Dallas and Fort Worth. The site spans 12 acres and is located within the EpicCentral entertainment district. The space will house a two-story driving range with 80 interactive, climate-controlled tee boxes, as well as a 27-hole indoor putting course, a 7,500-square-foot private event space and a full restaurant and bar. The venue will be the third in Texas for BigShots Golf and the concept’s eighth location nationally.

January 9, 2023

Leasing Activity New York Northeast Office

NewsCorp. Signs 486,000 SF Office Lease Extension in Midtown Manhattan

by Taylor Williams January 9, 2023

NEW YORK CITY — NewsCorp. has signed a 486,000-square-foot office lease extension at 1211 Avenue of the Americas in Midtown Manhattan. Under the terms of the new lease, which goes into effect in December 2027, the media giant will remain at the 44-story, 2.2 million-square-foot building through 2042, with further extension options available thereafter. Timothy Dempsey, Mary Ann Tighe, Ken Rapp, Christopher Mansfield and Ariel Ball of CBRE represented NewsCorp. in the lease negotiations. Josh Kuriloff, Ethan Silverstein, Mitch Arkin and Heather Thomas of Cushman & Wakefield represented the landlord, Ivanhoe Cambridge, which plans to begin a capital improvement program later this year. The deal coincides with a 670,000-square-foot extension with Fox Corp., which is also part of the Murdoch family media empire, at 1211 Avenue of the Americas.

January 9, 2023

Acquisitions Healthcare Northeast Pennsylvania

CBRE Arranges $11.6M Sale of Medical Office Complex in Broomall, Pennsylvania

by Taylor Williams January 9, 2023

BROOMALL, PA. — CBRE has arranged the $11.6 million sale of Marple Commons, a three-building, 57,760-square-foot medical office complex in Broomall, a western suburb of Philadelphia. Stephen Marzullo, Adam Silverman and Stephen Kriz of CBRE represented the seller, Pennsylvania-based Hudson Cos., in the transaction. The buyer was Maryland-based Thomas Park Investments. Marple Commons was 98 percent leased at the time of sale to tenants such as Premier Orthopaedics, Children’s Hospital of Philadelphia, Main Line Healthcare, Kidney Care Specialists and Labcorp.

January 9, 2023

Industrial Leasing Activity New Jersey Northeast

AxleHire Signs 79,076 SF Industrial Lease in Carlstadt, New Jersey

by Taylor Williams January 9, 2023

CARLSTADT, N.J. — Third-party logistics provider AxleHire has signed a 79,076-square-foot industrial lease in the Northern New Jersey community of Carlstadt. The property at 100 Industrial Road totals 142,815 square feet and features a clear height of 21 feet, as well as 110-foot truck court depths and ample onsite parking. Scott Perkins, Chris Todd and William Ericksen of NAI James E. Hanson represented the undisclosed landlord in the lease negotiations. Robin Dodson, Stephen Elman and John McManus of Cushman & Wakefield represented AxleHire.

January 9, 2023

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