Property Type

CARMEL, IND. — Old National Bank has expanded its office lease at Parkwood Crossing in the Indianapolis suburb of Carmel from 25,531 square feet to 45,077 square feet. The financial services firm is also consolidating its regional office space by moving an existing downtown Indianapolis office to the newly expanded space at Parkwood Crossing. Rubenstein Partners LP owns Parkwood Crossing, which spans eight buildings and 1.2 million square feet. Rubenstein acquired the property in 2016 and implemented a comprehensive renovation of the campus, including the addition of a 14,000-square-foot amenity center equipped with dining facilities, a fitness center, cybercafe, conference rooms and collaborative spaces. Traci Kapsalis, John Robinson and Brittany Shuler of JLL represented Rubenstein in the lease. Jeff Harris of Cressy Commercial Real Estate represented the tenant.

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FORT ATKINSON, WIS. — Walker & Dunlop has arranged a $14.7 million HUD-insured loan for the refinancing of Reena Senior Living, an 80-unit assisted living and memory care facility in Fort Atkinson, located about midway between Madison and Milwaukee. The property consists of a three-story assisted living building that was constructed in 2016 and a one-story memory care portion that was built in 2019. Kevin Giusti and Matthew Lund of Walker & Dunlop arranged the loan on behalf of the borrower, Tukka Properties.

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CELINA, TEXAS — Developers Guy Hatcher and Todd Stein are underway on construction of Phase I of a mixed-use project in the North Texas city of Celina. The initial phase of Celina Station, which is located at the corner of Preston Road and Ash Street, will feature 60,000 square feet of retail, office and medical office space. Tenants that have committed to this space include AT&T Wireless, OMG Tacos, Methodist Family Medical and Cook’s Children’s Pediatric. The development team has also secured leases with a nail salon, dentistry practice, martial arts school and a Vietnamese restaurant. At full buildout, Celina Station will also include 336 multifamily units that will be developed by Highpark Capital and multiple acres of parks, sports courts and walking trails.

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AUSTIN, TEXAS — Texas-based developer Presidium has broken ground on a 358-unit multifamily project in northeast Austin. Designed by Dallas-based Humphreys & Partners, Presidium Tech Ridge will sit on 14 acres and feature studio, one- and two-bedroom floor plans. Residences will be furnished with stainless steel appliances, quartz countertops, built-in desks, wine coolers and full-size washers and dryers. The amenity package will comprise a pool, fitness center, game room, coffee bar, theater lounge, golf simulator, business center, catering kitchen, coworking lounge, courtyard with fire pits and a dog park. Completion is slated for late 2023.

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ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of The Hub, a 168-unit apartment community in Arlington. The property houses studio, one- and two-bedroom units and offers amenities such as a dog park and outdoor grilling and dining areas. Al Silva and Ford Braly of Marcus & Millichap represented the seller, Lubbock-based developer Madera Residential, in the transaction and procured an undisclosed, locally based investment group as the buyer. The new ownership plans to implement a value-add program.

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CARROLLTON, TEXAS — Northmarq has arranged a permanent loan of an undisclosed amount for Carrollton Park Village, a 110,000-square-foot shopping center located on the northern outskirts of Dallas. The property was built on 10 acres in phases between 1965 and 1987 and is home to tenants such as dd’s Discounts, Dollar General and Hibbett Sporting Goods. Phillip Bankhead of Northmarq arranged the debt through Genworth Financial on behalf of the borrower, Vista Property Co. The loan carried a fixed interest rate, 15-year term and a 25-year amortization schedule.

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CenterPoint-Logistics-Park-San-Antonio

SAN ANTONIO — Stream Realty Partners has negotiated a 73,873-square-foot industrial lease at CenterPoint Logistics Park in San Antonio. The tenant, an undisclosed retail vending company, will occupy approximately half of the space at Building 4, which is under construction and scheduled for a third-quarter 2023 completion. Kevin Cosgrove and Walter Simpson of Stream Realty Partners represented the landlord, Jackson-Shaw, in the lease negotiations.

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NEW YORK CITY — Eastern Union has arranged a $78.6 million loan for the refinancing of a portfolio of 12 multifamily properties totaling 1,017 units that are predominantly located throughout Northern New Jersey. The portfolio also includes one property in The Bronx. Alex Jaffa of Eastern Union arranged the loan, which carries a fixed interest rate of 4.25 percent and a 10-year term, through Kearny Bank. The undisclosed borrower was a New Jersey-based investment firm that operates the properties through a variety of affiliated limited liability companies.

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NEW HAVEN, CONN. — Northeast Private Client Group has brokered the $34.6 million sale of a portfolio of two multifamily properties totaling 145 units in New Haven. Broadway Living is a five-building, 101-unit complex, and The Elm is a newly constructed, 44-unit building. All units at both properties are rented at market rates. Brad Balletto, Jeff Wright and Rich Edwards of Northeast Private Client Group brokered the deal. The buyer and seller were not disclosed.

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ELIZABETH AND HILLSIDE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $15 million sale of a portfolio of five multifamily properties totaling 120 units in Northern New Jersey. Specifically, four of the properties comprising 110 units are in Elizabeth, and one 10-unit property is located in Hillside. Jeff Squires of Kislak represented the buyer and seller, both of which requested anonymity, in the transaction. Walker & Dunlop originated acquisition financing for the deal.

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