Property Type

GenCap Partners Breaks Ground on 372-Unit Multifamily Project in San Antonio

by Taylor Williams May 30, 2023

SAN ANTONIO — Dallas-based GenCap Partners has broken ground on a 372-unit multifamily project on a 16-acre site in the Westover Hills area of San Antonio. The garden-style community will offer studio, one-, two- and three-bedroom units and amenities such as a pool, fitness center, conference rooms, coffee bar, outdoor grilling and dining areas and two dog parks. GenCap Partners is developing the property in partnership with International Development. Dwell Design Studio is the project architect, and Rampart Multifamily is the general contractor. Completion is slated for early 2025.

May 30, 2023

Development Loans Multifamily Seniors Housing Utah Western

Joint Venture Receives $160M C-PACE Financing for Summit Vista CCRC in Taylorsville

by Jeff Shaw May 30, 2023

TAYLORSVILLE, UTAH — D.A. Davidson’s Special District Group, in partnership with Petros PACE Finance, has arranged $160 million in Commercial Property Assessed Clean Energy (C-PACE) financing for Summit Vista, Utah’s first life plan retirement community. Representing the largest C-PACE deal in history, according to the arrangers, the proceeds will be dedicated toward ongoing construction with a focus on enhancing the development’s energy efficiency, renewable energy and water efficiency. Owned in partnership with Gardner Group, Wasatch Group and Solamere Capital, Summit Vista offers a full continuum of care, including independent living, assisted living, memory care and comprehensive skilled nursing in conjunction with its affiliated healthcare campus. Upon full build-out, the community will feature nearly 1,600 units. Approximately 13 miles south of downtown Salt Lake City, Summit Vista is nestled in the fast-growing region of Taylorsville. It is centrally located near major transportation corridors, enabling connectivity to surrounding neighborhoods. C-PACE is a financing mechanism that allows property owners and developers to fund up to 100 percent of building retrofits and new construction to improve a building’s energy efficiency, renewable energy and water efficiency.

May 30, 2023

Affordable Housing Development Hawaii Multifamily Western

Waikoloa Vacation Rentals Plans 229-Unit Affordable Housing Community in Hawaii

by Jeff Shaw May 30, 2023

WAIKOLOA, HAWAII — Waikoloa Vacation Rentals has released plans for Ho’omalu at Waikoloa Beach Resort, a 229-unit affordable community in Waikoloa, located on the western portion of the “big island” of Hawaii. Ho’omalu at Waikoloa Beach will offer one-, two- and three-bedroom floor plans, as well as amenities such as a day care, pool, fitness center, barbeque area and community center. The community will be available to households earning between 30 and 100 percent of the area median income. The project is listed on the county of Hawaii’s website as being currently under development, and Waikoloa Vacation Rentals plans to break ground before the end of 2024.

May 30, 2023

Loans Multifamily Oregon Seniors Housing Western

CBRE Arranges $58M Refinancing for Two Seniors Housing Communities in Oregon

by Jeff Shaw May 30, 2023

LAKE OSWEGO AND WILSONVILLE, ORE. — CBRE National Senior Housing has arranged a $58 million refinancing for The Springs at Carman Oaks and The Springs at Wilsonville on behalf of The Springs Living (TSL). Nestled in the northwestern corner of Clackamas County, The Springs at Carman Oaks is situated in the affluent suburb of Lake Owego, while The Springs at Wilsonville is located in Wilsonville, approximately 17 miles south of downtown Portland. The communities combined offer 294 independent living, assisted living and memory care units. Aron Will, Tim Root and Michael Cregan of CBRE National Senior Housing arranged the financing. The three-year loan features two years of interest-only payments. A syndication of two regional banks provided the capital. This financing represents the second time that CBRE has refinanced the portfolio over the past three years. TSL is headquartered in McMinnville and owns and operates 19 senior living communities across Oregon and Montana, with one additional community under construction.

May 30, 2023

Development Healthcare Texas

McCarthy Completes Healthcare Project for Houston Methodist in Sugar Land, Texas

by Taylor Williams May 30, 2023

SUGAR LAND, TEXAS — St. Louis-based general contractor McCarthy Building Cos. has completed a healthcare project in the southwestern Houston suburb of Sugar Land on behalf of the Houston Methodist healthcare system. The project comprises a six-story, 160,000-square-foot medical office building and a seven-story, 1,100-space parking garage. Page designed the project, and Jacobs served as the structural and civil engineer. Construction began in December 2021. Houston Methodist operates eight hospitals and employs roughly 30,000 people throughout the city.

May 30, 2023

Acquisitions California NAI Retail Western

NAI Brokers $6.7M Sale of Retail Center in Sylvia Square in Torrance, California

by Jeff Shaw May 30, 2023

TORRANCE, CALIF. — NAI Capital Commercial has brokered the $6.7 million sale of Sylvia Square, a retail strip center located in Torrance. Built in 1974, the property totals 15,234 square feet. Sheri Messerlian and David Shaby of NAI represented the seller, an entity doing business as Sylvia Square Properties LLC, and the buyer, Benecia Avenue LLC, in the transaction.

May 30, 2023

Acquisitions Multifamily Texas

GREA Negotiates Sale of 158-Unit Multifamily Property in Fort Worth

by Taylor Williams May 30, 2023

FORT WORTH, TEXAS — Global Real Estate Advisors (GREA) has negotiated the sale of Southgate Manor, a 158-unit multifamily property in Fort Worth. According to Apartments.com, the property was built in 1963 and features studio, one-, two- and three-bedroom units that range in from 425 to 1,065 square feet. Mark Allen of GREA represented the undisclosed, Texas-based seller in the transaction. The buyer and sales price were also not disclosed.

May 30, 2023

Leasing Activity Nevada Retail Western

Three New Tenants Sign Leases at Lake Mead Crossing in Henderson, Nevada

by Jeff Shaw May 30, 2023

HENDERSON, NEV. — Three tenants have signed leases at Lake Mead Crossing, a retail center located in Henderson, a suburb of Las Vegas. Starbucks Coffee, Sprouts Farmers Market and Chick-fil-A will join the lineup at the property, which Target anchors. Other tenants at the center include Marshalls, Ulta Beauty, PetSmart, Ross Dress for Less, Hibbett Sports and Big Lots.

May 30, 2023

Industrial Leasing Activity Texas

Stone Resources Signs 91,000 SF Industrial Lease Renewal in Metro Dallas

by Taylor Williams May 30, 2023

CARROLLTON, TEXAS — Building supplies distributor Stone Resources has signed a 91,000-square-foot, full-building industrial lease renewal in the northern Dallas metro of Carrollton. According to commercialcafé.com, the property at 2425 Carter Drive was built on 4.9 acres in 1986. Andrew Gilbert and Keaton Brice with Holt Lunsford Commercial represented the landlord, Taurus, in the lease negotiations.

May 30, 2023

Industrial Leasing Activity Texas

Partners Real Estate Arranges 10,985 SF Industrial Lease in Northeast Dallas

by Taylor Williams May 30, 2023

DALLAS — Partners Real Estate has arranged a 10,985-square-foot industrial lease in northeast Dallas. According to LoopNet Inc., the property at 10480-10490 Brockwood Road was built in 1984 and totals 58,758 square feet. Jeff McVaney of Partners represented the tenant, building materials wholesaler CP Supply Co., in the lease negotiations. Josh Barnes of Holt Lunsford Commercial represented the undisclosed landlord.

May 30, 2023

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