Property Type

Uptown Terrace in Denver features 34 apartments. (Photo credit: Mediamax Inc.)

Cohen Rojas Capital Sells Uptown Terrace Apartment Community Denver for $8.4M

by Amy Works October 27, 2022

DENVER — Cohen Rojas Capital Partners has completed the disposition of Uptown Terrace, a multifamily property located in Denver’s Uptown neighborhood. Quantum Capital, using out-of-state exchange funds from a Florida-based trust, acquired the asset for $8.4 million. Erik Toll, Andy Hellman, Justin Hunt, Brad Schlafer and Jessica Graham of CBRE’s multifamily investment properties team in Denver represented the seller in the deal. Located at 230-240 E. 19th Ave., Uptown Terrace features 34 one-bedroom, 515-square-foot apartments spread across two two-story buildings. Originally constructed in 1927, the property underwent recent renovations, including new paint, landscaping and signage, and an upgrade of the gated courtyard area to add an outdoor kitchen and patio.

October 27, 2022

Acquisitions Oregon Retail Western

Norris & Stevens Brokers $6M Acquisition of Heritage Mall Outparcel in Albany, Oregon

by Amy Works October 27, 2022

ALBANY, ORE. — Portland-based Norris & Stevens has arranged the purchase of the Heritage Mall outparcel located at 1811 14th Ave. SE in Albany. Perseverance LLC acquired the asset for $6 million. Constructed in 1989, the 20,074-square-foot retail building sits along Southeast Geary Street and features 118 parking spaces. Todd VanDomelen of Norris & Stevens represented the buyer, while Kevin Adalto and Lance Suster of CPX represented the seller in transaction.

October 27, 2022

Development Loans Mixed-Use Oklahoma Texas

JLL Arranges $100M Construction Loan for Oklahoma City Mixed-Use Project

by Taylor Williams October 27, 2022

OKLAHOMA CITY — JLL has arranged a $100 million construction loan for OAK, a mixed-use project in Oklahoma City. Jeremy Sain of JLL arranged the financing through an undisclosed lender on behalf of the borrower, Veritas Development. At full build-out, the development will consist of 320 residential units, 260,000 square feet of office space, 250,000 square feet of retail space, a 133-room boutique hotel and 7,000 square feet of public green space, all connected by walking paths. Retail tenants that have already committed to OAK include RH, Arhaus and Capital Grille.

October 27, 2022

Development Industrial Texas

Lovett Industrial Breaks Ground on 388,793 SF Spec Project in South Houston

by Taylor Williams October 27, 2022

HOUSTON — Locally based developer Lovett Industrial has broken ground on a 388,793-square-foot industrial project in South Houston. The project represents Phase I of 610 Business District, a 113-acre speculative development. Phase I will comprise a 291,459-square-foot, cross-dock building with 36-foot clear heights and a 97,223-square-foot, front-load building with 32-foot clear heights. Completion is slated for August 2023. More Architecture Studio designed the development, and Alston Construction is serving as the general contractor. Associated Bank provided construction financing for the project. CBRE has been tapped as the leasing agent.

October 27, 2022

Acquisitions Multifamily Texas

Venterra Realty Acquires 216-Unit Apartment Community in Duncanville, Texas

by Taylor Williams October 27, 2022

DUNCANVILLE, TEXAS — Houston-based investment firm Venterra Realty has acquired Bella Ruscello, a 216-unit apartment community in Duncanville, a southern suburb of Dallas. Built in 2007, the property features one- and two-bedroom units ranging in size from 655 to 1,074 square feet. Amenities include a pool, fitness center, community room with a theater and a paved walking trail. The seller was not disclosed. Venterra plans to implement a value-add program.

October 27, 2022

Florida Loans Multifamily North Carolina Southeast

NewPoint Provides $93.5M Freddie Mac Financing for Two Apartment Communities in Charlotte, Orlando

by John Nelson October 27, 2022

CHARLOTTE, N.C. AND ORLANDO, FLA. — NewPoint Real Estate Capital LLC has provided two separate Freddie Mac loans totaling $93.5 million for two apartment communities in Charlotte and Orlando. The borrower, an affiliate of American Landmark LLC, is using the loans to refinance both properties. The transactions include a $51 million loan for the 338-unit 8 Metro Station in Charlotte and a $42.5 million loan for the 279-unit Central Station on Orange in Orlando. Marc Cesare of NewPoint originated the 10-year, fixed-rate loans. The loans both featured five years of interest-only payments and provided cash-out options for American Landmark, an investment firm that manages over $5 billion in multifamily properties spanning approximately 32,000 units.

October 27, 2022

Development Industrial Texas

Proterra Properties Begins Work on 114,400 SF Industrial Flex Facility Near DFW Airport

by Taylor Williams October 27, 2022

GRAND PRAIRIE, TEXAS — Locally based developer Proterra Properties has begun construction of Carrier/360 Distribution Center, a 114,400-square-foot industrial flex facility that will be located near Dallas-Fort Worth International Airport in Grand Prairie. The rear-load facility will feature 32-foot clear heights, 120-foot truck court depths, 32 dock-high doors, two drive-in ramps and a high office finish. Completion is slated for July 2023. Proterra Properties will also handle leasing of the property.

October 27, 2022

Acquisitions Industrial Texas

Henry S. Miller Arranges Sale of 32,886 SF Warehouse in Northwest Houston

by Taylor Williams October 27, 2022

HOUSTON — Dallas-based Henry S. Miller Brokerage (HSM) has arranged the sale of a 32,886-square-foot warehouse in northwest Houston. According to LoopNet Inc., the property at 3724 Dacoma St. was built in 1976. Bill Bledsoe of HSM represented the buyer, an affiliate of Grubbs Volvo Cars Central Houston, in the transaction. Heath Donica and Jack Rathe of Stream Realty Partners represented the seller, an entity doing business as 3724 Dacoma Partners Ltd. The buyer will use the property to facilitate its expansion.

October 27, 2022

Industrial Leasing Activity New York Northeast

JLL Negotiates 568,543 SF Industrial Lease in The Bronx

by Taylor Williams October 27, 2022

NEW YORK CITY — JLL has negotiated a 568,543-square-foot industrial lease at 2505 Bruckner Blvd. in The Bronx. The newly built facility spans approximately 1 million square feet across two floors, and the undisclosed tenant will occupy the entirety of the lower level. Building features include 28- to 32-foot clear heights and a total of 106 loading docks, four drive-in doors and roughly 53,000 square feet of office space. Rob Kossar and Leslie Lanne led a JLL team that represented the landlord, Innovo Property Group, which developed the facility in partnership with Square Mile Capital, in the lease negotiations.

October 27, 2022

Acquisitions Colorado Georgia Maryland Self-Storage Southeast Tennessee Virginia

Ziff Purchases Six Self-Storage Properties in Southeast, Colorado Totaling 2,750 Units

by John Nelson October 27, 2022

MOUNT PLEASANT, S.C. — Ziff Real Estate Partners has purchased six self-storage properties in the Southeast and Colorado totaling 2,750 climate- and non-climate-controlled units, including boat and RV rental spaces. The Mount Pleasant-based investor purchased the assets for an undisclosed price via its ZRP Storage Opportunity Fund. The assets in the portfolio include four existing properties: Morristown Self Storage in Morristown, Tenn.; J&S Self Storage in Fountain, Colo.; Mocks Hwy 20 Self Storage in Cumming, Ga.; and Atlas Business Center in Gainesville, Ga. The portfolio also includes two buildings in Roanoke, Va., and Waldorf, Md., that were acquired for conversion to self-storage properties branded under the StoreEase flag. Combined the six assets span 340,000 net rentable square feet. The sellers were not disclosed.

October 27, 2022

Newer Posts

Older Posts