HOUSTON — Impact Networking, an Illinois-based provider of cloud-based cybersecurity and marketing services, has signed a 16,000-square-foot office lease at East River, a 150-acre mixed-use development in Houston’s Historic Fifth Ward. Locally based developer Midway is underway on vertical construction of the first phase of East River, which includes office, retail and restaurant space. A timeline for Impact Networking’s move-in was not disclosed. Midway also recently announced an initial slate of retail and restaurant tenants that have committed to East River.
BERWYN, PA. — Florida-based investment firm Accesso has acquired Westlakes, a four-building, 455,183-square-foot office campus located in the northwestern Philadelphia suburb of Berwyn. Situated on 40.4 acres, Westlakes was 92 percent leased at the time of sale with a weighted average remaining lease term of 4.7 years. Tenants include PNC Bank, Brinker Capital, Montgomery McCracken, Chartwell Investment Partners and Amring Pharmaceuticals. Amenities include multiple dining options, two fitness centers and walking trails. The seller was locally based investment and development firm Keystone Property Group. The sales price was not disclosed.
JERSEY CITY, N.J. — New York City-based Halpern Real Estate Ventures has broken ground on 49 Fisk Street, a 337-unit multifamily project that will be located near the Hackensack River in Jersey City. Designed by Minno & Wasko Architects and Planners, the community will feature studio, one- and two-bedroom units and roughly 50,000 square feet of indoor and outdoor amenity space. Specifically, amenities will include a rooftop terrace, a speakeasy-style bar, landscaped courtyard, fitness center and coworking space. Completion is slated for the fourth quarter of 2023. The Corcoran Group will handle leasing of the property.
STAMFORD, CONN. — JLL has arranged a $53.5 million acquisition loan for Glenview House, a 146-unit apartment complex in Stamford. The property offers one-, two- and three-bedroom units that average 1,280 square feet and are furnished with stainless steel appliances and full-size washers and dryers. Amenities include a pool, courtyard, outdoor grilling area, fitness center, clubroom with a bar and a business center. Elliott Throne, Mona Carlton, Alex Staikos, Amit Kakar and Kenny Cutler of JLL arranged the three-year, floating-rate loan through MetLife Investment Management on behalf of the borrower, Beachwold Residential.
MCDONOUGH, GA. — Vista Realty Partners has sold Carmel Vista Apartments, a 228-unit multifamily community in McDonough. Equus Capital Partners Ltd. purchased the property for $63.3 million. David Gutting of Newmark represented Vista Realty in the transaction. Opened in Feb. 2021, Carmel Vista Apartments offers studio, one-, two- and three-bedroom floorplans. Unit amenities include stainless steel appliances, granite countertops, sunrooms, direct access attached garages, walk-in closets and washers and dryers. Community amenities include a business center, playground, dog park, fitness center, 24-hour package concierge lockers, controlled access gates, clubhouse with game room and coffee bar and pool. Located at 91 Mt. Carmel Road, Carmel Vista has access to Interstates 75 and 285. The property was fully occupied at the time of sale. Trustmark Bank provided an undisclosed amount of construction financing for the project. A joint venture among The Radco Cos. and Blue Vista Asset Management LLC., Eduard de Guardiola’s Family Office, provided an undisclosed amount of equity.
PHILADELPHIA — CBRE has brokered the $28 million sale of a portfolio of six multifamily properties totaling 78 units in Philadelphia’s Fairmount and Brewerytown neighborhoods. The portfolio consists of: The Fairmount Flats at 745-751 North 20th Street; 726 North 19th Street; 711 North 16th Street; 714 North 19th Street; The Fairmount Greenery at 817 North 20th Street; and The Porter at 2940 West Thompson Street. Samantha Kupersmith and Spencer Yablon of CBRE represented the seller, Philadelphia-based Stamm Development Group, and procured the buyer, Treeco Cos., in the transaction.
RIDGEVILLE, S.C. — Frampton Construction Co. LLC has broken ground on three industrial facilities at Camp Hall, an industrial park in Ridgeville. The Camp Hill park spans approximately 6,800 acres with 2,600 acres dedicated as preserved land. The three facilities at Camp Hall will total 940,000 square feet and will be located on the park’s 77-acre Campus 4A site. Portman Industrial, an Atlanta-based logistics developer, recently purchased Campus 4A from EQT Exeter for an undisclosed price. John Gaskin of Portman Industrial is leading the project. The Campus 4A project is located adjacent to Volvo Cars’ manufacturing facility at the intersection of Fish Road and Volvo Cars Drive. The three facilities will be constructed of tilt-up concrete wall panels with structural steel frames. Buildings A and B will span approximately 220,000 square feet each with a rear-loading layout, 32-foot clear heights, 36 dock doors and two drive-in doors. Building C will span approximately 500,000 square feet and feature a cross-dock layout, 36-foot clear heights, 116 dock doors and four drive-in doors. Located at 114 Three Point Drive, Camp Hall has direct access to Interstate 26. The property is also situated 33.7 miles from the Port of Charleston, 27 miles from Charleston …
NEW YORK CITY — CLEAR (NYSE: YOU), a locally based provider of identity verification services, has signed a 119,000-square-foot office lease at 85 Tenth Avenue in Manhattan. The company will occupy two floors at the 11-story building, which was originally constructed in 1913. Jared Horowitz and Jason Perla of Newmark represented the tenant in the lease negotiations. Edward Riguardi and Anthony Cugini of Vornado Realty Trust and Stephen Winter of Related Cos. represented building ownership on an internal basis.
ROSWELL, GA. — A fund sponsored by CBRE Investment Management, formerly known as CBRE Global Investors, has provided a $37.2 million loan to TerraCap Management for the acquisition of Enclave at Roswell, a 236-unit multifamily community in Roswell. Matt Williams and Kyle Schlitt of Newmark arranged the floating-rate loan. The loan has an initial term of four years, can extend up to one additional year and features future funding for TerraCap’s planned renovations. Enclave at Roswell offers a mix of one- and two-bedroom apartments with units that range in size from 706 to 1,237 square feet. Units feature in-unit washers and dryers, walk-in closets and private balconies in select homes. Community amenities include a swimming pool, fitness center, business center, tennis court, children’s playground area and a dog park. Located at 11251 Alpharetta Highway, Enclave at Roswell is located along Ga. Highways 9 and 400, as well as about 24.8 miles from downtown Atlanta. The community is also situated less than two miles from North Point Mall, North Point Marketcenter and Mansell Crossing.
RALEIGH, N.C. — Drucker + Falk has purchased Sommerset Place Apartments, a 144-unit apartment community in Raleigh, for $26.7 million (or $185,000 per unit). Will Mathews of Colliers International represented the seller, Investors Management Group Inc. (IMG), in the transaction. Built in 1983, Sommerset Place offers one- and two-bedroom floor plans. Community amenities include a resort-style swimming pool with sundeck, grilling centers and a dog park. The property was built with a density of 16 units per acre. Located at 6717 Six Forks Road, the apartment community is situated close to Interstates 440 and 540, as well as about 16.9 miles from the Research Triangle in Durham and 13.1 miles from the Raleigh-Durham International Airport. IMG purchased Sommerset Place in December 2017 for $14.3 million and completed a $1 million renovation program. The new owner plans to continue capital improvements on the property.