REBusinessOnline

Perkins&Will Designs $30M Renovation of KeyBank Plaza Office Building in Downtown Anchorage

ANCHORAGE, ALASKA — Perkins&Will, a global architecture firm, in partnership with an Alaska-based developer, has designed the $30 million modernization and expansion of 601 W. 5th Avenue, formerly the KeyBank Plaza Building located in downtown Anchorage.Originally constructed in 1972 by Alaska Mutual Savings Bank, the nine-story property required extensive structural repairs as a result of the region’s 7.1 magnitude earthquake in November 2018. In addition to seismic reinforcements, …

Alaska, Development, Office, Western

SR Construction Completes Five-Story Patient Tower at Centennial Hills Hospital in Las Vegas

LAS VEGAS — SR Construction, as design-build contractor, has completed a five-story patient tower at Centennial Hills Hospital in Las Vegas.The new tower features 72 patient beds, plus two floors of shell for additional intensive care, intermediate and medical surgical units. Centennial Hills Hospital opened The Birthplace within the new tower, adding two labor and delivery suites along with 36 mother-baby suites. Additionally, the hospital opened its new 36-bed nursing unit at the …

Development, Healthcare, Nevada, Western

Alliance Residential Opens 403-Unit Broadstone Archive Apartment Community in Santa Ana

SANTA ANA, CALIF. — Alliance Residential has completed the development of Broadstone Archive, a multifamily property located 1901 E. Dyer Road in Santa Ana.Broadstone Archive features 403 apartments in a mix of studio, one-, two- and three-bedroom layouts ranging from 598 square feet to 1,470 square feet. All units offer quartz countertops, built-in under-counter wine fridges, in-unit washers/dryers and Samsung stainless steel appliances. The property also features smart technologies …

California, Development, Multifamily, Western

NorthMarq Arranges $35M Refinancing for Weatherly Inn Seniors Housing Community Tacoma, Washington

TACOMA, WASH. — NorthMarq has arranged a $35 million refinancing for Weatherly Inn, an independent living, assisted living and memory care community in Tacoma.Developed in the mid-1990s, the community is family owned and operated. It features 136 units.Stuart Oswald, senior vice president and managing director of NorthMarq’s Seattle office, arranged the Freddie Mac financing with a 10-year term and 30-year

Loans, Multifamily, Seniors Housing, Washington, Western

LPC Buys Development Site in Phoenix for 321,873 SF Industrial Project Known As Buckeye85

PHOENIX — LPC Desert West has purchased nearly 20 acres in the Interstate 10 corridor for the development of Buckeye85, an industrial project in Phoenix. The 321,873-square-foot Class A property will offer location, flexibility and creative industrial amenities targeted for mid-size users focused on creating an omnichannel marketplace, according to LPC.Situated at the southwest corner of 103rd Avenue and Buckeye Road/MC-87 Highway, Buckeye85 will feature spaces divisible to 100,000 square …

Arizona, Development, Industrial, Western

M2G, Pennybacker Capital to Redevelop 250,000 SF Industrial Property in Dallas

DALLAS — A partnership between North Texas-based M2G Ventures and Austin-based Pennybacker Capital will redevelop a 250,000-square-foot industrial property in the West Brookhollow area of Dallas. The project will convert a 1960s-era brick warehouse on a nine-acre site into a modern industrial building that will feature 20- to 24-foot clear heights and will be marketed to light industrial and logistics users. The redeveloped property will be branded PROTO Park. Completion is slated for …

Development, Industrial, Texas

Wood Partners Completes 300-Unit Alta Cathedral Lakes Apartments in Metro Houston

SPRING, TEXAS — Multifamily developer Wood Partners has completed Alta Cathedral Lakes, a 300-unit apartment community in the northern Houston suburb of Spring. Units come in one-, two- and three-bedroom floor plans and feature stainless steel appliances, granite countertops, tile backsplashes and individual washers and dryers. Amenities include a pool, fitness center, business center with coworking spaces and reserve-able conference rooms, dog park and wash, bike storage and an outdoor …

Development, Multifamily, Texas

Welcome Group Acquires 129,085 SF Office, Industrial Complex in West Houston

HOUSTON — Welcome Group LLC, a locally based investment firm, has acquired a 129,085-square-foot office and industrial complex in West Houston. The complex consists of four office buildings and one industrial building that were constructed in 2013 and are fully leased to three tenants, including Tally Energy Services. Ryan Wassaff and John Wilson represented Welcome Group on an internal

Acquisitions, Industrial, Office, Texas

Barings, B&Z Development Top Out 701 Rio Office Project in Downtown Austin

AUSTIN, TEXAS — Barings and B&Z Development LLC have topped out 701 Rio, a 120,983-square-foot office project in downtown Austin. Construction of the building, which will offer a fitness center with showers and lockers, as well as bike storage space, began in January 2020. Completion is slated for July. Barnes Gromatzky Kosarek Architects is designing the project, and Colorado-based Hensel Phelps is the general contractor. JLL is leasing the …

Development, Office, Texas

NorthMarq Brokers Sale of 270-Site Manufactured Housing Community in Mission, Texas

MISSION, TEXAS — NorthMarq has brokered the sale of Circle T RV & Mobile Home Park, a 270-site manufactured housing community located in the Rio Grande Valley city of Mission. Jared Bosch, Don Vedeen and Chris Michl of NorthMarq represented the seller, Boston Road MHP Inc., and the buyer, Lewis RR Properties Ltd., in the transaction. The sales price was not

Acquisitions, Multifamily, Texas
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