LAKE MARY, FLA. — Legacy Realty Group Advisors has negotiated the $46 million sale of Griffin Farm at Midtown, a 125,000-square-foot, grocery-anchored shopping center in Lake Mary, a suburb of Orlando. Jacob Baruch, Daniel Baruch and Jonah Warshaw of Legacy Realty represented both the buyer and seller in the transaction. Both parties requested anonymity, but Orlando Business Journal reports the seller was Unicorp. Griffin Farm at Midtown is anchored by Winn-Dixie and also houses a 24-Hour Fitness location. The shopping center is part of a new mixed-use development that also features 263 luxury apartments and 138 David Weekly Homes.
COLLEGE PARK, MD. — Axiom Capital Corp. has arranged the $34.5 million refinancing of a student housing property located near the University of Maryland in College Park. The fixed-rate, non-recourse loan was secured on behalf of an undisclosed borrower and features a three-year term. The unnamed student housing property offers 232 units alongside amenities including a swimming pool, fitness center, movie theater and shuttle service to both the University of Maryland and Howard University. Built in 2010, the community also offers a 629-stall parking garage and 30 surface-level parking spaces.
WOODBRIDGE, VA. — CBRE National Senior Housing’s investment properties team has arranged the sale of HarborChase of Prince William Commons, a Class A seniors housing community in Woodbridge, a suburb of Washington D.C. Built in 2018, HarborChase of Prince William Commons is a three-story building with 127 units of assisted living, transitional memory care and memory care units. John Sweeny, Aron Will, Garrett Sacco and Scott Bray of CBRE represented the sellers, Silverstone Senior Living and Lionstone Investments. Although the price was not disclosed, CBRE National Senior Housing’s debt and structured finance team consisting of Aron Will, Tim Root, and Michael Cregan arranged acquisition financing on behalf of the buyer, Artemis Real Estate Partners. CBRE secured a five-year, $31.3 million, fixed-rate loan from a regional bank with 24 months of interest-only payments. The Arbor Co. will operate the community following the acquisition.
ALBUQUERQUE — JLL Capital Markets has arranged $51.8 million in construction financing for the development of Ativo of Albuquerque, a three-story, 144-unit senior living community in Albuquerque. JLL represented the borrower, Link Senior Development LLC, in securing the financing through an undisclosed lender. Once completed, Ativo of Albuquerque will offer a mix of independent living, assisted living and memory care units ranging from studio to two-bedroom units. Situated on 6.5 acres, the community will be adjacent to a new ambulatory urgent care center and a medical office building. The community will benefit from the nearby Rio Grande River and Recreation Area, which offers an expansive network of walking trails and various parks along with the Petroglyph National Monument and an 18-hole golf course. Alanna Ellis led the JLL Capital Markets debt advisory team.
TUCSON, ARIZ. — CBRE has secured $38.6 million in financing for the construction of Aerie Northwest, an apartment property located at the southeast corner of North La Cholla Boulevard and North Fountains Avenue in northwest Tucson. Bruce Francis, Bob Ybarra, Shaun Moothart and Doug Birrell of CBRE Capital Markets’ debt and structured finance team in Phoenix secured the financing for the undisclosed developer. The loan features full-term interest-only payments and an 80 percent loan-to-cost ratio. Situated on 12.2 acres, Aerie Northwest will feature 17 two-story buildings offering a total of 144 one-, two- and three-bedroom apartments. Community amenities will include a pool house, pool, spa and dog park.
EVERETT, WASH. — Woodinville, Wash.-based Formost Fuji, a manufacturer in the packaging industry, has purchased a manufacturing and industrial building located at 905 80th St. SW in Everett. MTorres America sold the asset for $20 million. Situated on 14.9 acres, the property features a 65,344-square-foot building with capacity for warehouse expansion of up to 32,000 square feet. MTorres America, an aerospace manufacturing company, previously occupied the building. Zach Vall-Spinosa and James Leptich of Kidder Mathews represented the buyer in the deal.
ENGLEWOOD, COLO. — Fifield Cos. has started construction of Arden Englewood Apartments, a transit-oriented multifamily community in Englewood. Slated for completion in 2024, the four-story building is the redevelopment of the former Sports Authority headquarters parking lot, which has been vacant since 2016. Located at 3615 S. Jason St., Arden Englewood will feature 302 apartments in a mix of studio, one-, two- and three-bedroom layouts ranging from 570 square feet to 1,550 square feet. Units will offer quartz countertops, soft-close cabinetry, stainless steel appliances, spa baths, custom closet organizers and in-unit laundry. Community amenities will include a leasing office, fitness center, parking for 440 vehicles, a rooftop lounge and deck, swimming pool, hot tub, yoga garden and party room. Additional amenities will include a business center and coworking space with an outdoor patio. The project team includes KTGY as architect, Studio 10 as interior designer and W.E. O’Neil as general contractor. CIBC provided the construction loan.
MUKILTEO, WASH. — Sienna Technologies has acquired an industrial property located in the Harbour Pointe neighborhood of Mukilteo, approximately 25 miles north of Seattle. UMC Inc., a medical contractor, sold the asset for $8.2 million. Zach Vall-Spinosa and Ryan Foster of Kidder Mathews represented the buyer in the deal. Located at 11611 49th Place W., the property features 36,000 square feet of standalone industrial flex space on two acres. Based in Woodinville, Sienna Technologies manufactures aluminum nitride ceramics, including some used for electric propulsion in space exploration appliances.
DALLAS, MESQUITE AND GARLAND, TEXAS — Locally based investment firm CanTex Capital has sold a portfolio of five industrial properties totaling 689,497 square feet in East Dallas. Two of the properties are located within the city limits, and the other three are located in the nearby suburbs of Mesquite and Garland. The portfolio comprises a mix of single- and multi-tenant buildings ranging in size from 19,000 to 184,000 square feet. Stephen Bailey, Dustin Volz, Dom Espinosa, Zach Riebe and Pauli Kerr of JLL represented CanTex Capital in the deal. The buyer was not disclosed. At the time of sale, the portfolio was fully leased to tenants such as ADCO Industries and ProLift Rigging Co.
PLEASANTON, TEXAS — Marcus & Millichap has brokered the sale of Budget Self Storage, a 234-unit facility in Pleasanton, about 35 miles south of San Antonio. The facility was built in 1995 and totals 28,275 net rentable square feet of non-climate-controlled space. Jon Danklefs of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction.