Property Type

7000-Shoreline-Ct-South-San-Francisco-CA

JLL Arranges $213.4M in Financing for Life Sciences Portfolio in Northern California

by Amy Works November 8, 2022

SOUTH SAN FRANCISCO AND SAN CARLOS, CALIF. — JLL Capital Markets has arranged $213.4 million in financing for a five-building life sciences portfolio in South San Francisco and San Carlos. The borrower is an affiliate of GI Partners. Kevin MacKenzie, Brian Torp, Alex Witt and Samuel Godfrey of the JLL Capital Markets Debt Advisory team secured the seven-year, fixed-rate loan through a life insurance company. Loan proceeds were used to finance the assets acquired via a recent Sale, which JLL also arranged. Totaling 325,977 square feet, the buildings are located at 7000 Shoreline Court and 341-343 Oyster Point Boulevard in South San Francisco and 75 and 125 Shoreway Road in San Carlos.

November 8, 2022

Development Loans Multifamily Nevada Western

Growth Holdings Receives $85M Construction Loan for Otonomus Las Vegas Apartments

by Amy Works November 8, 2022

LAS VEGAS — Las Vegas-based Growth Holdings has received a $85 million first lien construction loan for the development of Otonomus Las Vegas, a residential and short-term rental property. Slated to open in fourth-quarter 2024, the 303-unit community will feature fully furnished apartments with stainless steel appliances, granite and quartz countertops, tile backsplashes and LED lighting. The four- and five-story complex will offer open floor plans, 10-foot ceilings, walk-in closets and private balconies. Community amenities will include a fitness center, clubhouse, meeting space, lounge areas, three courtyards with picnic and barbecue areas, and two resort-style pools with cabanas. Additionally, the property will feature 38,000 square feet of retail offerings. Brad Ferguson of Dallas-based HALL Structured Finance (HSF) originated the loan. Las Vegas-based CORE Advisory Partners sourced the financing for the project.

November 8, 2022

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 298-Unit Self-Storage Facility in Magnolia, Texas

by Taylor Williams November 8, 2022

MAGNOLIA, TEXAS — Marcus & Millichap has brokered the sale of Corporate Woods Storall, a 298-unit self-storage facility located in the northwestern Houston suburb of Magnolia. The facility spans 99,180 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were Texas-based limited liability companies that requested anonymity.

November 8, 2022

Development Healthcare Leasing Activity Mixed-Use Montana Retail Western

Corning Cos. Begins $50M Redevelopment of Gallatin Valley Mall in Bozeman, Montana to Include State’s First Whole Foods

by Amy Works November 8, 2022

BOZEMAN, MONT. — Corning Cos. is currently underway on a $50 million, multi-phase redevelopment of Gallatin Valley Mall, a retail center located in Bozeman. To be known as Gallatin Crossing, the mixed-use property will feature retail, entertainment and medical space, including a 45,000-square-foot medical pavilion that will bring together Intermountain Healthcare and Ortho Montana PSC. Whole Foods Market will also join the property with a location that marks its first in the state. The first phase of development for the project, which began in September 2022, is scheduled for completion later this year. A second phase — which will include façade upgrades, updated parking and refreshed landscaping, signage and lighting — is scheduled to begin in spring 2023. Grossman Development Group, Boston Realty Advisors and Situs Realty Group are working with owner Corning Cos. on the project.

November 8, 2022

Acquisitions Office Texas

DZMI Acquires 216,889 SF Office Building in Houston

by Taylor Williams November 8, 2022

HOUSTON — Locally based investment firm David Z. Mafrige Interests (DZMI) has acquired World Houston Place, an office building in Houston that totals 216,889 square feet, according to LoopNet Inc. The eight-story building is located near George Bush Intercontinental Airport on the city’s north side. DZMI plans to upgrade the building’s common areas and add a fitness center and tenant lounge to the amenity package. The firm has hired Stream Realty Partners to lease the building.

November 8, 2022

Colorado Loans Multifamily Western

Capital One Provides $33.8M Freddie Mac Refinancing for Heights on Huron Apartments in Northglenn, Colorado

by Amy Works November 8, 2022

NORTHGLENN, COLO. — Capital One has provided a $33.8 million Freddie Mac floating-rate loan to refinance Heights on Huron, an apartment property in Northglenn. The borrower, FCP, will continue to partner with Avanti Residential following the financing. Jonathan Pratt, Rossana Bouchaya and Patrick Greenwood facilitated the 10-year loan, which includes five years of interest-only payments. Located 11 miles north of downtown Denver, Heights on Huron features 252 apartments in a mix of one- and two-bedroom layouts. Community amenities include a dog park, swimming pool, picnic area, playground and 24-hour emergency maintenance services.

November 8, 2022

Development Industrial Nevada Western

Westport Properties Plans 84,511 SF Industrial Facility in Henderson, Nevada

by Amy Works November 8, 2022

HENDERSON, NEV. — Westport Properties has released plans to develop an industrial property on a recently acquired land site in Henderson. Construction of the single-tenant, 81,511-square-foot facility is slated to begin in first-quarter 2023. Located at the corner of Bruner Avenue and Amigo Street, the building will feature 32-foot clear heights, a secured truck court, ESFR sprinklers, 11 dock doors and 5,000 square feet of office space. Completion is scheduled for fourth-quarter 2023. Amy Ogden of Logic Commercial Real Estate will oversee leasing.

November 8, 2022

Acquisitions Midwest Minnesota Multifamily

JLL Brokers Sale of Gaar Scott Historic Lofts in Minneapolis

by Kristin Harlow November 8, 2022

MINNEAPOLIS — JLL Capital Markets has brokered the sale of Gaar Scott Historic Lofts in the North Loop neighborhood of Minneapolis for an undisclosed price. The property was originally built in 1885 and converted into multifamily units in 2001 with the assistance of historic tax credits. The six-story property features one-bedroom units with an average size of 900 square feet. There are also 4,000 square feet of commercial space. Dan Linnell, Mox Gunderson, Josh Talberg and Adam Haydon of JLL represented the seller, Gaar Scott LP. Matthew Lawton, Scott Loving and Britta Lund of JLL arranged acquisition financing on behalf of the buyer, FPA Multifamily. North American Banking Co. provided the three-year, fixed-rate loan.

November 8, 2022

Civic Development Midwest Wisconsin

Kraus-Anderson Completes $13.5M Expansion to St. Croix Falls High School in Wisconsin

by Kristin Harlow November 8, 2022

ST. CROIX FALLS, WIS. — Kraus-Anderson Construction has completed a $13.5 million expansion project at St. Croix Falls High School in western Wisconsin. Designed by DSGW, the 28,300-square-foot project consisted of three separate additions to the school. The first component was a 21,100-square-foot fine arts center, which will host theatrical productions, musicals and concerts as well as serve as a large group learning space. The second component was a 6,400-square-foot fitness center and the third was a 300-square-foot wash bay addition to the existing garage.

November 8, 2022

Acquisitions Illinois Midwest Multifamily

Interra Negotiates $4.1M Condo Deconversion Sale in Arlington Heights, Illinois

by Kristin Harlow November 8, 2022

ARLINGTON HEIGHTS, ILL. — Interra Realty has negotiated the $4.1 million condo deconversion sale of a 34-unit property in Arlington Heights. Built in 1970, the property on North Salem Avenue comprises 30 one-bedroom units and four two-bedroom units. Patrick Kennelly and Paul Waterloo of Interra represented the seller, the Salem Lane Condominium Association. The duo also represented the undisclosed buyer. The condo owners were interested in selling the property to avoid a potential special assessment due to deferred maintenance, according to Interra. The new owner plans to make repairs to the balconies and upgrade units as they turn over. Under the Condominium Property Act in Illinois, condo unit owners can elect to sell a property if 75 percent or more are in agreement. The threshold is 85 percent for the City of Chicago. Sellers then have the option to either move out of their units or lease them back from the new owner.

November 8, 2022

Newer Posts

Older Posts