Property Type

Tishman Speyer Sells 240,000 SF Foundry Office Complex in East Austin

by Taylor Williams August 29, 2022

AUSTIN, TEXAS — Tishman Speyer has sold The Foundry, a 240,000-square-foot office complex in East Austin. The New York City-based real estate giant acquired the first of The Foundry’s two buildings in January 2021 and the second in July 2021 from locally based developer Cielo Property Group. Mike McDonald and Jonathan Napper of Cushman & Wakefield represented Tishman Speyer in the latest sale. Beacon Capital Partners purchased the asset, which was 96 percent leased at the time of sale, for an undisclosed price.

August 29, 2022

Acquisitions Multifamily Student Housing Texas

Apex Student Living Acquires Community in Stillwater, Oklahoma for $23.7M

by Taylor Williams August 29, 2022

STILLWATER, OKLA. — Apex Student Living has acquired Apex on Perkins, a 732-bed community located near Oklahoma State University in Stillwater, for $23.7 million. According to Apartments.com, the property offers a pool, fitness center, business center and a clubhouse. The seller was a partnership between two Manhattan-based investment firms, Ladder Capital and Tailwind Capital. Apex is a joint venture between Toronto-based Alexandra Capital and Connecticut-based Axela Group.

August 29, 2022

Leasing Activity Office Texas

Accounting Firm Weaver Signs 35,948 SF Office Lease Renewal in Fort Worth

by Taylor Williams August 29, 2022

FORT WORTH, TEXAS — Texas-based accounting firm Weaver has signed a 35,948-square-foot office lease renewal in Fort Worth’s West Seventh district. Scott Morse, Scott Jessen, Andy Goldston, Daniel Mullen and Katherine Jessen of Citadel Partners represented Weaver in the lease negotiations. Matt Carthey and Jake Neal of Holt Lunsford Commercial represented the landlord, Macfarlan Capital Partners. Weaver, which also recently signed a new lease in Houston, is temporarily operating out of a smaller suite and plans to move into its newly renovated space in November.

August 29, 2022

Affordable Housing Development Georgia Loans Multifamily Southeast

Resia Obtains $60M Construction Loan for Mixed-Income Multifamily Project in Decatur, Georgia

by John Nelson August 29, 2022

DECATUR, GA. — Resia, formerly known as AHS Residential, has obtained $60 million in construction financing for a 476-unit apartment development in metro Atlanta. Located at 4151 Memorial Drive in Decatur, the community will feature five seven-story midrise buildings comprising one-, two- and three-bedroom floor plans. Twenty percent of the units will have income restrictions, according to Resia. Amenities will include assigned parking, a business center, fitness center and a swimming pool. Bank of America provided the loan to Resia, which broke ground on the unnamed community in the first quarter of 2022 and expects to deliver the asset in the third quarter of 2023. The project is the developer’s third property in the metro Atlanta area.

August 29, 2022

Development Florida Loans Seniors Housing Southeast

Greystone Arranges $52.6M Construction Financing for Seniors Housing Community in Gainesville, Florida

by John Nelson August 29, 2022

GAINESVILLE, FLA. — Greystone has arranged $52.6 million in debt and equity construction financing for Discovery Place at Celebration Pointe in Gainesville. Upon completion, the seniors housing community will feature 180 units and a high-end amenity package, according to Greystone. The type of care was not disclosed. Cary Tremper and Matt Miller of Greystone originated the transaction on behalf of the borrower, Bonita Springs, Fla.-based Discovery Senior Living. Discovery Place will serve as an anchor at Celebration Pointe, a 1.5 million-square-foot mixed-use project along I-75 that features Regal Cinemas, Bass Pro Shops, Dave & Buster’s, offices, apartments and several stores and restaurants. Built by Celebration Pointe Holdings and RaCo Real Estate Advisors, Phase II of Celebration Pointe will feature a 142,000-square-foot events center that is sanctioned by the NCAA to host athletic and scholastic events.

August 29, 2022

Acquisitions Multifamily Southeast Virginia

Northmarq Negotiates $43M Sale of Bayville Apartments in Virginia Beach

by John Nelson August 29, 2022

VIRGINIA BEACH, VA. — Northmarq has negotiated the $43 million sale of Bayville Apartments, a 240-unit, Class B multifamily property located at 1512 Kindly Lane in Virginia Beach. Wink Ewing, Mike Marshall and Matt Straughan of Northmarq represented the seller, Thalhimer Realty Partners, in the transaction. Keith Wells, Reina Abboud and Hunter Wood of Northmarq’s debt and equity team arranged an undisclosed amount of acquisition financing on behalf of the buyers, Linden Property Group and Matador Capital Management. Bayville Apartments consists of one-, two- and three-bedroom floor plans with short-term leases available for residents. Community amenities include a business center, bark park, onsite maintenance and management, package receiving, a playground and a pool.

August 29, 2022

Acquisitions Maryland Mixed-Use Retail Southeast

Stan Johnson Co. Brokers $26.8M Sale of Metro Baltimore Store Leased to Whole Foods

by John Nelson August 29, 2022

TOWSON, MD. — Stan Johnson Co. has brokered the sale of a newly built, single-tenant retail store located at 300 Towson Row in downtown Towson, about 10 miles north of Baltimore. Built in 2021 and opened in early 2022, the 63,750-square-foot retail property is triple-net-leased to Whole Foods Market, which anchors the 1.2 million-square-foot Towson Row mixed-use development. An unnamed 1031 exchange buyer based in New York purchased the store from locally based developer Greenberg Gibbons for $26.8 million. Jason Maier of Stan Johnson Co. represented the buyer in the transaction.

August 29, 2022

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

SJC Ventures Signs New Tenants to Join Phase II of Interlock Project in Atlanta

by John Nelson August 29, 2022

ATLANTA — SJC Ventures has signed several new tenants to join Phase II of The Interlock, a $750 million mixed-use development underway in Atlanta’s West Midtown district. New concepts joining include Starbucks, Kura Revolving Sushi Bar, Salon Lofts and Five Guys. SJC Ventures expects to announce a new round of tenants in the near future. In addition to the newly announced restaurants and salon, the second phase of The Interlock will be anchored by a 42,000-square-foot Publix grocery store, 670 student housing units for Georgia Tech students, 275,000 square feet of commercial space and limited restaurant opportunities. Construction on Phase II began in May 2021, and SJC Ventures plans to fully open the second phase in 2024. Phase II of The Interlock will be connected to Phase I, which is anchored by a Puttshack, the Bellyard hotel and Rooftop L.O.A., via a one-acre public park.

August 29, 2022

Development Industrial Massachusetts Northeast

Onshore Properties to Develop 326,000 SF Industrial Project in Braintree, Massachusetts

by Taylor Williams August 29, 2022

BRAINTREE, MASS. — Locally based developer Onshore Properties will develop Banner Park, a 326,000-square-foot industrial project located on a 130-acre site in the southern Boston suburb of Braintree. Both of Banner Park’s two buildings will total approximately 163,000 square feet and feature clear heights of 40 feet. Combined, the facilities will offer 19 loading docks and parking for up to 560 vehicles. Colliers is marketing the development for lease.

August 29, 2022

Acquisitions Multifamily New York Northeast

Davean Holdings Buys Multifamily Portfolio in Manhattan’s East Village for $25.5M

by Taylor Williams August 29, 2022

NEW YORK CITY — Locally based investment firm Davean Holdings has purchased a portfolio of three multifamily buildings totaling 19 apartments in Manhattan’s East Village area for $25.5 million. The portfolio includes seven commercial spaces. The buildings were completed between 1900 and 1920 and comprise 15 market-rate units and four rent-stabilized apartments. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of local brokerage firm Rosewood Realty Group represented both Davean Holdings and the seller, the Halegua Family, in the off-market deal.

August 29, 2022

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