AUSTIN, TEXAS — Miro, an online whiteboard platform designed for distributed team collaboration, has signed a 72,000-square-foot office lease at Colorado Tower in downtown Austin. Owned by Atlanta-based Cousins Properties, the 373,334-square-foot building opened in 2015 and offers two onsite restaurants, a fitness center and conference facilities. Mark Harris and Jake Ragusa of JLL represented Miro, which plans to occupy three floors beginning next spring, in the lease negotiations. Rachel Coulter, Bethany Perez, Travis Rogers and Coleman Jackson, also with JLL, represented the landlord.
GREENVILLE, S.C. — Ready Capital has closed on a $6.6 million financing for the acquisition, renovation and stabilization of a 20-bay, 235,000-square-foot, Class B industrial property in the South/Donaldson submarket of Greenville. The loan is a non-recourse, interest-only, floating-rate loan with a 36-month term and two extension options. The financing includes a facility to provide future funding for capital expenditures, tenant leasing costs and interest and carry shortfalls. Upon acquisition, the property will receive cosmetic updates. The buyer and seller were not disclosed.
AUSTIN, TEXAS — New York City-based Ready Capital has closed a $9.1 million loan for the acquisition, renovation and stabilization of a 90-unit multifamily property located in the Heritage Hills submarket of Austin. The nonrecourse, interest-only loan was structured with a floating interest rate, 36-month term, two extension options and a facility for funding capital improvements. The undisclosed sponsor also plans to convert half the residences into affordable housing.
MATAWAN, N.J. — Brokerage firm Redwood Realty Advisors has negotiated the $11.3 million sale of Matawan Village, a 72-unit multifamily property located about 40 miles south of New York City. The sales price equates to approximately $157,500 per unit. According to Apartments.com, the property offers one- and two-bedroom units. Kevin McCrann of Redwood Realty represented the buyer and seller, both of which requested anonymity, in the transaction.
FAIRFIELD, N.J. — JLL has arranged a $10.5 million loan for the refinancing of Brookplace Luxury Apartments, a 36-unit complex located in the Northern New Jersey community of Fairfield. Built in 2020 and fully occupied at the time of the loan closing, Brookplace Luxury Apartments features one- and two-bedrooms units averaging 1,058 square feet with balconies and patios. Michael Klein, Max Custer and Gerard Quinn of JLL arranged the 15-year, fixed-rate loan through National Life Group on behalf of the borrower, an entity doing business as 74 Passaic Avenue LLC.
SHIRLEY, N.Y. — Colliers International has negotiated the $9.2 million sale of a 61,916-square-foot industrial building in the Long Island community of Shirley. The sales price equates to $149 per square foot. The building is leased to rubber products supplier Frank Lowe for the next five years. Jordan Baruch and Matthew Kucker of Colliers represented the buyer, Port Washington, N.Y.-based BEB Capital, in the transaction. Jason Maietta, Tommy Rosati and Brandon Lichtenstein, also with Colliers, represented the seller, Warco LLC, a real estate entity affiliated with Frank Lowe.
GARFIELD, N.J. — New York City-based Ready Capital has closed a $5 million loan for the acquisition and stabilization of an 11-bay industrial property in Garfield, located in Bergen County. The nonrecourse, interest-only loan was structured with a floating interest rate, 36-month term and two extension options. The undisclosed sponsor plans to implement a capital improvement program at the property.
NEW YORK CITY — Hemogenyx Pharmaceuticals, which develops therapies to make bone marrow transplants safer and more accessible, has signed a 10,000-square-foot life sciences lease at the Mink Building in Manhattan. The tenant will relocate from the Downstate campus of State University of New York (SUNY). Owned by The Janus Property Co., the 150,000-square-foot Mink Building is located within the Manhattanville Factory District, adjacent to Columbia University and City College on the Upper West Side. The deal brings the building’s occupancy rate to 80 percent.
ARCADIA, CALIF. — A private investor from Taiwan has acquired a mixed-use residential and retail property, located at 57 Wheeler Ave. in Arcadia, from a local developer for $39.2 million. Joyce Goldstein and Eric Chen of CBRE represented the buyer and the seller in the deal. Completed in 2019, the property features 38 apartments and 17,000 square feet of ground-floor retail space, which Universal Bank and Tap Lounge occupy. Community amenities include elevators, an outdoor barbecue area and courtyard, ample guest parking, storage spaces and electric vehicle charging stations. Apartments offer double vanities, stainless steel appliances, hardwood flooring and in-unit washers/dryers.
SEATTLE — Legacy Partners, along with its equity partner USAA Real Estate, has opened Maris, a multifamily property located at 4722 Fauntleroy Way SW in West Seattle. The partnership broke ground on the 306-residence project in June 2019. Maris features two standalone buildings offering a mix of studio, open one-bedroom, one-bedroom and two-bedroom floor plans. The apartments feature A/C ports, hardwood-style flooring, quartz countertops, gas and electric cooktops and an energy-efficient kitchen appliance package. Additionally, many of the units include air conditioning with smart thermostats. Designed by Seattle-based Encore Architects, Maris offers 261 parking spaces, 10,000 square feet of ground-floor retail space, co-working space and conference rooms, a fitness studio, bike storage and electric vehicle charging stations. The community also features rooftop outdoor and resident lounges with a kitchen bar, grilling station and fire pits.