MISSOURI CITY, SPRING AND SUGAR LAND, TEXAS — Locally based investment firm Lovett Industrial has completed construction of three warehouses totaling approximately 1.6 million square feet in the Houston area. The properties include a 1 million-square-foot building in the southwestern suburb of Missouri City; a 220,000-square-foot facility within 99 North Logistics Park in the northern suburb of Spring; and a 326,000-square-foot asset located within Sugar Land Business Park, also on the city’s southwestern outskirts. The first two projects were executed as build-to-suits for an undisclosed, global e-commerce firm. The third building is 50 percent leased to Boise Cascade Building Materials Distribution. Lovett Industrial delivered the buildings with 95 percent of the total space preleased.
HOUSTON — Metro Houston-based investment firm TruePoint Capital has acquired The Aubrey, a 436-unit apartment community in Houston’s Westchase neighborhood. Florida-based Electra Capital contributed a $5.2 million equity investment to the deal. The Aubrey offers one-, two- and three-bedroom units that range in size from 700 to 1,300 square feet and feature wood-style flooring, designer color schemes, washer/dryer connections and private patios/balconies. Communal amenities include two pools, a fitness center, a full-service business center, clothing care center, dog park and a playground.
ARLINGTON, TEXAS — A partnership led by Vertical Street Ventures has acquired Garden Park Apartments, a 252-unit multifamily community in Arlington. Built in 1968 and partially renovated in 2020, the property offers amenities such as a pool, outdoor lounge, playground and outdoor yoga space. The partnership, which now owns four properties in Texas, also included Invest in Multifamily, Limitless Estates and other private investors.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Estrella at Broadmoor, a 96-unit multifamily property in Fort Worth. Al Silva and Ford Braly of Marcus & Millichap represented the seller, a locally based investment firm, in the transaction. The duo also procured the buyer, a locally based partnership. Both parties involved in the deal requested anonymity.
TULSA, OKLA. — Stan Johnson Co. has arranged the $9.1 million sale of a 102,000-square-foot retail center in Tulsa. Anchored by Burlington, the center is adjacent to the 1 million-square-foot Woodland Hills Mall on the city’s south side. Mike Sladich, Jeff Hughes, Maggie Holmes and Michael Watson of Stan Johnson Co. represented the seller, a Baltimore-based investor, in the transaction. The buyer was a California-based 1031 exchange investor.
EAST ORANGE, N.J. — Locally based brokerage firm Gebroe-Hammer Associates has negotiated the $113 million sale of a 641-unit workforce housing portfolio in the Northern New Jersey community of East Orange. The portfolio consists of 10 transit-oriented properties that are all located within two miles of one another in the city’s downtown area. Milrose, a private investment group based in Central New Jersey, sold the portfolio to Spaxel. Joseph Brecher, David Oropeza and Niko Nicolaou of Gebroe-Hammer brokered the deal.
LEHIGH COUNTY, PA. — G.S. Wilcox, a commercial mortgage banking firm based in Northern New Jersey, has arranged a $44 million construction loan for a 70,000-square-foot healthcare project in Pennsylvania’s Lehigh Valley. The exact location of the single-tenant project was not disclosed. Wesley Wilcox of G.S. Wilcox arranged the fixed-rate loan, which carried a 23-year term, on behalf of the undisclosed borrower.
ALLENDALE, N.J. — New Jersey-based investment firm Tryko Partners has acquired The Allendale Community for Senior Living, a 299-bed facility located in Northern New Jersey’s Bergen County. The 146,000-square-foot facility was built in the 1960s and offers skilled nursing, assisted living and memory care services. The seller and sales price were not disclosed.
NEW YORK CITY — Verizon has signed a 140,000-square-foot office lease to be an office anchor tenant at Essex Crossing, a 2 million-square-foot mixed-use development under construction on Manhattan’s Lower East Side. Josh Kuriloff, Andrew Braver and Peyton Horn of Cushman & Wakefield represented Verizon in the lease negotiations. Taconic Partners is developing Essex Crossing in partnership with L+M Development Partners, BFC Partners, The Prusik Group and Goldman Sachs Asset Management. The development will ultimately comprise 350,000 square feet of office space, along with 1,000 residences, 300,000 square feet of retail space and 100,000 square feet of green space.
ORLANDO, FLA. — A joint venture between affiliates of Miami-based Fifteen Group and San Francisco-based Meritage Group LP has sold Patterson Court Apartments, a 384-unit multifamily property in Orlando, for $107.8 million. West Hollywood, Calif.-based Trion Properties was the buyer, according to the Orlando Business Journal. Brett Moss and Jaret Turkell of Berkadia represented the seller. Patterson Court offers one-, two- and three-bedroom apartments ranging in size from 772 to 1,312 square feet. Community amenities include a pool, fitness center, grill, picnic area, courtyard, sundeck, business center, clubhouse, conference room and car charging station. Located at 8151 Patterson Woods Drive, the property is situated near Interstates 4 and 417 and Orlando International Airport. Built in 2008, Patterson Court has historically been utilized by Walt Disney World Resort as housing for participants in its Disney College Program, which is an internship program operated by The Walt Disney Co. for college students. The new owner plans to renovate the property.