Property Type

Aspens Senior Living Opens 159-Unit Active Adult Community in Greenville

by John Nelson November 1, 2022

GREENVILLE, S.C. — Aspens Senior Living has completed construction of The Aspens Verdae, a 159-unit active adult community in Greenville. The property totals 196,000 square feet and offers one-and two-bedroom options ranging from 607 square feet to 1,243 square feet. Aspens broke ground on the project in December 2020. It is the company’s second community in the Carolinas. The site is close to Legacy Park, The Preserve at Verdae Golf Club and the Prisma Health Swamp Rabbit Trail, a 22-mile walking and biking greenway that connects Greenville to Travelers Rest, S.C. Shiel Sexton served as general contractor for The Aspens Verdae, with Arrive Architecture Group as designer for the project.

November 1, 2022

Acquisitions Florida Hospitality Southeast

CBRE Brokers $29.1M Sale of Courtyard by Marriott Hotel in Downtown St. Petersburg, Florida

by John Nelson November 1, 2022

ST. PETERSBURG, FLA. — CBRE has brokered the sale of Courtyard by Marriott St. Petersburg Downtown, a 128-room hotel located at 300 4th St. N in downtown St. Petersburg. Atlanta-based The Radco Cos. purchased the hotel from Blackstone for $29.1 million. Christian Charre, Paul Weimer, Jennifer Jin and Andrew Pastorino of CBRE’s hotel division in Miami represented the seller in the transaction. The Courtyard by Marriott was converted from an independent boutique hotel in 2006 and underwent a renovation in 2015. Amenities include a restaurant and bar, onsite fitness and business centers, an indoor pool, 806 square feet of meeting space and valet parking.

November 1, 2022

Acquisitions Kentucky Multifamily Southeast

Capstone Arranges $13.7M Sale of Multifamily Portfolio in Murray, Kentucky

by John Nelson November 1, 2022

MURRAY, KY. — Capstone Apartment Partners has arranged the $13.7 million sale of an apartment portfolio in Murray. Situated near Murray State University and within a two-mile radius of one another, the portfolio comprises 86 completed units, 24 nearly completed units and 20 under construction units, all of which were leased at the time of sale. Adam Klenk, Austin Heithcock, Tyler Mayo and Jordan Arand of Capstone represented the seller, Jennings Management and BTJ Rental LLC, in the transaction. The seller developed the portfolio over the last 10 years and managed them during its ownership. The buyer and sales price were not disclosed, but Capstone says the portfolio traded at a record price per unit for the city of Murray.

November 1, 2022

Acquisitions Multifamily Texas

Berkadia Arranges Sale of 318-Unit Oasis at Piney Point Apartments in West Houston

by Taylor Williams November 1, 2022

HOUSTON — Berkadia has arranged the sale of Oasis at Piney Point, a 318-unit apartment community in West Houston. Built in 2004 by Trammell Crow Co., the property offers one- and two-bedroom units ranging in size from 727 to 1,034 square feet, as well as two-bedroom townhomes as large as 1,412 square feet. Residences are furnished with stainless steel appliances, quartz and granite countertops, walk-in closets and private patios/balconies. Amenities include a pool, fitness center, business center, media lounge and a coffee bar. Jeffrey Skipworth, Chris Curry, Todd Marix, Chris Young, Joey Rippel and Kyle Whitney of Berkadia represented the seller, Canadian investment firm Marlin Spring, in the transaction. The buyer was not disclosed.

November 1, 2022

Build-to-Rent Development Single-Family Rental Texas

PCCP to Develop 195-Unit Build-to-Rent Residential Community in Metro Houston

by Taylor Williams November 1, 2022

CYPRESS, TEXAS — Los Angeles-based PCCP LLC will develop Meadows at Telge, a 195-unit build-to-rent residential community that will be located on the northwestern outskirts of Houston in Cypress. The 44-acre site will house three- and four-bedroom homes that will be furnished with stainless steel appliances, granite countertops, tile backsplashes and individual washers and dryers. Communal amenities will include a pool, leasing office, dog park, grilling and dining stations and a playground. PCCP has partnered with homebuilder ICB on the project, construction of which is expected to last two to three years.

November 1, 2022

Acquisitions Industrial Texas

Belvoir Real Estate Acquires 124,032 SF Industrial Facility in San Marcos, Texas

by Taylor Williams November 1, 2022

SAN MARCOS, TEXAS — Houston-based investment firm Belvoir Real Estate Group has acquired Interstate Business Park, a 124,032-square-foot industrial facility in San Marcos, located roughly midway between Austin and San Antonio. The front-load facility features 16-foot clear heights, 11 dock doors, 147-foot truck court depths and 65 parking spaces. Dom Espinosa, Josh Villarreal and John Taylor of JLL represented the seller, locally based investment firm Live Oak, in the transaction. At the time of sale, the property was fully leased to Builders Alliance LLC, Premier Triangle LLC and CoTechno Group Inc.

November 1, 2022

Acquisitions Industrial Texas

Partners Negotiates Sale of 70,248 SF Industrial Property in Houston

by Taylor Williams November 1, 2022

HOUSTON — Partners, the brokerage and investment firm formerly known as NAI Partners, has negotiated the sale of a 70,248-square-foot industrial property located at 5959 Harvey Wilson Drive in Houston. Clay Pritchett and Zane Carman of Partners represented the seller, an entity doing business as Rhone Harvey Wilson LP, in the transaction. Chris Caudill, also with Partners, represented the buyer, All Points Warehouse Inc, a provider of intermodal freight and storage services.

November 1, 2022

Arthur's-Self-Storage-Branchburg-New-Jersey

Development Industrial Loans New Jersey Northeast Self-Storage

Progress Capital Arranges $23M Construction Loan for Self-Storage Project in Branchburg, New Jersey

by Taylor Williams November 1, 2022

BRANCHBURG, N.J. — Progress Capital has arranged a $23 million construction loan for a 1,000-unit self-storage project in Branchburg, about 50 miles west of New York City. The site, which is also zoned to support the future development of 160 multifamily units, will house three two-story buildings with units of varying sizes. Kathy Anderson and Caillin Boles of Progress Capital arranged the three-year, interest-only loan, which also featured an option to convert to permanent financing, through Valley Bank. The borrower was Cyzner Properties. Construction is expected to last 18 to 24 months.

November 1, 2022

West-Chester-Rehabilitation-&-Healthcare-Center

Acquisitions Multifamily Northeast Pennsylvania Seniors Housing

Tryko Acquires 180-Bed Skilled Nursing Facility in West Chester, Pennsylvania

by Taylor Williams November 1, 2022

WEST CHESTER, PA. — New Jersey-based investment firm Tryko Partners has acquired a 180-bed skilled nursing facility in West Chester, approximately 25 miles west of Philadelphia. Tryko will rebrand the asset as West Chester Rehabilitation & Healthcare Center. The seller and sales price were not disclosed. Blueprint Healthcare Real Estate Advisors brokered the sale of the property.

November 1, 2022

51-New-Brunswick-Ave.-Woodbridge-New-Jersey

Development Industrial New Jersey Northeast

Woodmont Breaks Ground on 54,113 SF Industrial Project in Woodbridge, New Jersey

by Taylor Williams November 1, 2022

WOODBRIDGE, N.J. — Woodmont Industrial Partners has broken ground on a 54,113-square-foot project at 51 New Brunswick Ave. in the Northern New Jersey community of Woodbridge. The facility will feature a clear height of 32 feet, seven dock doors, build-to-suit office space and ample car and trailer parking. Completion is slated for the second quarter of 2023.

November 1, 2022

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