Property Type

Beta Agency Arranges $14M Sale of Smart & Final-Anchored Retail Center in Lawndale, California

by Amy Works January 9, 2023

LAWNDALE, CALIF. — Beta Agency has arranged the sale of Lawndale Plaza, a shopping center in Lawndale. A San Pedro-based private shopping center owner sold the asset to a Los Angeles-based entity for $14 million. Lawndale Plaza features a Smart & Final store and a multi-tenant retail building, occupied by Subway, Wingstop, Panda Express, Daily Nails & Spa and Wells Fargo. At the time of sale, the property was 100 percent occupied. Richard Rizika and Vanessa Zhang of Beta Agency represented the seller, while Adam Friedlander of Beta Agency and Moon Lim of JLL represented the buyer in the deal.

January 9, 2023

Acquisitions Multifamily Seniors Housing Utah Western

SLIB Brokers Sale of 66-Bed Barrington Place Memory Care in Clinton, Utah

by Amy Works January 9, 2023

CLINTON, UTAH — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Barrington Place, a 66-bed memory care community in Clinton, 30 miles north of Salt Lake City. The facility was built in 2016, totaling approximately 32,862 square feet on 2.9 acres of land. A national owner-operator seeking to sell non-core assets sold the property to a family office based in the West for an undisclosed price. The new owner plans to install Ridgeline Management Co. as the operator. Jason Punzel, Vince Viverito and Brad Goodsell of SLIB handled the transaction. “Barrington Place is a well-constructed, newer, standalone memory care community that fits in well with the new owner’s long-term strategy to expand its seniors housing portfolio,” says Punzel.

January 9, 2023

Development Mixed-Use Office Retail South Carolina Southeast

Keith Corp. to Break Ground on 400,000 SF Adaptive Reuse Project in Rock Hill, South Carolina

by John Nelson January 9, 2023

ROCK HILL, S.C. — The Keith Corp., with partners Springsteen Properties and Capitol Broadcasting Co., will break ground Tuesday, Jan. 17 on The Thread, a 400,000-square-foot adaptive reuse project located in Rock Hill, roughly 30 miles southwest of Charlotte. Built in 1946, the property originally housed a textile mill and warehouse. Upon completion, the first phase of development will feature 170,000 square feet of office space and 30,000 square feet of ground-floor retail space. Delivery is scheduled for January 2024. Horizon Bank is providing construction financing. A second phase — construction of which will commence upon completion of the first — will include 200,000 square feet of residential and retail space, with apartments in one-, two- and three-bedroom layouts.

January 9, 2023

Acquisitions Development Life Sciences North Carolina Office Southeast

Cushman & Wakefield Brokers Sale of 438,144 SF Office Property in Charlotte, Buyer Plans Life Sciences Conversion

by John Nelson January 9, 2023

CHARLOTTE, N.C. — Cushman & Wakefield has arranged the sale of The Commons at the Park, an adaptive reuse campus located at 6800 Solectron Drive in Charlotte. The property comprises a 438,144-square-foot office building and two additional land parcels. The buyer, Albemarle U.S. Inc., a specialty chemicals company, will utilize the property as a lithium research and development center. Completion of the project, dubbed Albemarle Technology Park, is scheduled for late 2026. Keith Bell, Matt Treble, Dirk Riekse and Eric Sorenson of Cushman & Wakefield represented the buyer in the transaction. Jessica Brown, David Dorsch and Jordan Williams of Cushman & Wakefield represented the seller, a Shorenstein Properties entity doing business as 6800 Solectron Owner LP.

January 9, 2023

Alabama Loans Retail Southeast

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

Newer Posts

Older Posts