Property Type

Greystone Provides $40.4M Agency Refinancing of Seniors Housing Property in Metro Houston

by Taylor Williams January 5, 2023

LEAGUE CITY, TEXAS — Greystone has provided a $40.4 million Fannie Mae loan for the refinancing of The Delaney at South Shore, a 204-unit seniors housing property in League City, a southeastern suburb of Houston. Tyler Armstrong of Greystone originated the nonrecourse loan, which carries a fixed interest rate, 10-year term and a 30-year amortization schedule. In addition, the debt was structured with five years of interest-only payments. The borrower was Life Care Services, a seniors housing owner-operator based in Des Moines, Iowa.

January 5, 2023

Acquisitions Hospitality Texas

Hilco Real Estate Arranges $9.9M Sale of Hilton-Branded Hotel in Bryan, Texas

by Taylor Williams January 5, 2023

BRYAN, TEXAS — Hilco Real Estate has arranged the $9.9 million sale of the Tru by Hilton Bryan College Station, a 98-room hotel in Central Texas. The property was built on 2.6 acres in 2018 near the Texas A&M University campus and offers a fitness center, children’s play area, meeting and event space and a lobby bar/lounge. Keith Worsham of Hilco Real Estate represented the seller, Wealth Hospitality, in the transaction. The buyer was not disclosed.

January 5, 2023

Leasing Activity Retail Texas

Floor & Décor Opens 75,000 SF Store in Pearland, Texas

by Taylor Williams January 5, 2023

PEARLAND, TEXAS — Floor & Décor has opened an approximately 75,000-square-foot store at 3350 Business Center Drive in Pearland, a southern suburb of Houston. The store, which opened with a team of 50 full- and part-time employees, is the 12th in the greater Houston area for the Atlanta-based home improvement retailer. Founded in 2000, Floor & Décor operates 178 warehouse-style stores and five design studios across 35 states.

January 5, 2023

Industrial Leasing Activity Texas

Finial Group Negotiates 26,126 SF Industrial Lease in Metro Dallas

by Taylor Williams January 5, 2023

GARLAND, TEXAS — Houston-based brokerage firm Finial Group has negotiated a 26,126-square-foot industrial lease in Garland, a northeastern suburb of Dallas. The property at 3760 Miller Park Drive totals 40,958 square feet and features three dock doors and one drive-in ramp. Travis McEldowney and Jack Gaffney of Finial Group represented the landlord, New Jersey-based investment firm Faropoint, in the lease negotiations. Sam Bridges and John Briggs of RHA commercial represented the tenant, BKS Industrial Coating.

January 5, 2023

Development Illinois Midwest Office

Skender Completes Renovation of 622,600 SF Office Building in Downers Grove, Illinois

by Kristin Harlow January 5, 2023

DOWNERS GROVE, ILL. — Skender has completed a comprehensive renovation of 3500 Lacey, a 622,600-square-foot office building in the Chicago suburb of Downers Grove. Built in 1992, the property formerly served as the headquarters of bread company Sara Lee. KORE Investments purchased the building in 2019. Skender worked with OKW Architects on the renovation project, which upgraded the building’s lower lobby, main lobby and fitness center. The property is also home to Esplanade Lakes Ballroom, a wedding venue operated by DoubleTree.

January 5, 2023

Acquisitions Industrial Midwest Minnesota

JLL Arranges Sale of 376,218 SF Industrial Portfolio in Suburban Twin Cities

by Kristin Harlow January 5, 2023

ROSEVILLE, OAKDALE AND WOODBURY, MINN. — JLL Capital Markets has arranged the sale of a seven-building industrial portfolio totaling 376,218 square feet in suburban Twin Cities for an undisclosed price. Five of the buildings are located in Oakdale, while one is in Woodbury and one is in Roseville. The portfolio is 96 percent leased to 18 tenants. Colin Ryan, David Berglund and Erin Fitzgerald of JLL represented the seller, Link Logistics, and procured the buyer, Minneapolis-based Biynah Industrial Partners. Matthew Schoenfeldt, Scott Loving and Lucas Borges of JLL arranged acquisition financing.

January 5, 2023

Industrial Leasing Activity Texas

Belfor USA Signs 14,385 SF Lease Renewal at Industrial Flex Property in Fort Worth

by Taylor Williams January 5, 2023

FORT WORTH, TEXAS — Disaster recovery and property restoration firm Belfor USA Group has signed a 14,385-square-foot lease renewal at RiverPark Business Center, an industrial flex property in Fort Worth. Michael Spain of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as SCG River Park Business LP, in the lease negotiations. Caleb McCoy of JLL represented the tenant.

January 5, 2023

Loans Michigan Midwest Multifamily

Bernard Financial Group Arranges $29.2M Construction Loan for Multifamily Project in Troy, Michigan

by Kristin Harlow January 5, 2023

TROY, MICH. — Bernard Financial Group (BFG) has arranged a $29.2 million loan for the construction of a 200-unit multifamily project in Troy. Dennis Bernard and Joshua Bernard of BFG arranged the loan through Old National Bank. The loan terms and name of the borrower were not provided.

January 5, 2023

Acquisitions Industrial Midwest Ohio

DWG Capital Partners Acquires 68,650 SF Industrial Facility in Metro Cleveland in Sale-Leaseback

by Kristin Harlow January 5, 2023

PAINESVILLE, OHIO — In a sale-leaseback transaction, DWG Capital Partners Inc. has acquired a 68,650-square-foot industrial facility in the Cleveland suburb of Painesville. The purchase price was undisclosed. T&T Machine Inc., a specialized manufacturer of machine parts for the healthcare, engineering, automotive, food & beverage and military sectors, was the seller. Built in 1999, the property is located at 892 Callendar Blvd. within the Blackbrook Road Industrial Park. Mitchell Hoffman of Raven Oak represented the seller. Dugan Kelley of Kelley Clarke PC and Mark Atkins of Reafco represented DWG Capital Partners, which is led by Judd Dunning.

January 5, 2023

Acquisitions Connecticut Multifamily Northeast

Harbor Group, Cammeby’s Acquire 932-Unit Apartment Community in Manchester, Connecticut

by Taylor Williams January 5, 2023

MANCHESTER, CONN. — A joint venture between Virginia-based investment firm Harbor Group International and Cammeby’s International Group has acquired The Pavilions, a 932-unit apartment community in Manchester, an eastern suburb of Hartford. Built in phases between 1990 and 1992, the property offers one-, two- and three-bedroom units. The amenity package comprises multiple pools, fitness centers, resident lounges and tennis courts, as well as outdoor grilling and dining areas, a sand volleyball court and a dog park. The new ownership plans to invest $21.2 million in upgrades to unit interiors, common areas, amenity spaces and building exteriors.

January 5, 2023

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