Property Type

Universal Design Strategies Foster Intergenerational Living in Multifamily Communities

by Jeff Shaw July 26, 2022

By Carol Cole, director of interior design, DAHLIN Group Architecture AT Intergenerational households are growing at a faster pace than they were pre-pandemic. Generations United, a nonprofit dedicated to supporting intergenerational programs and policies, estimates that 66.7 million U.S. adults live in a multigenerational household, with nearly 57 percent of this statistic spurred by COVID. Even after the immediate impacts of the pandemic subside, intergenerational living will remain prevalent for a variety of reasons. These can range from the need for child and/or elder care to cultural expectations and economic-related factors, such as loss of a job, high educational expenses or housing availability. Considering this trend and recognizing that more than 16 million Americans are currently over the age of 65, the movement toward incorporating universal design strategies on residential projects is key for creating aesthetic living spaces that are usable by everyone to the greatest extent possible. Already a standard in the healthcare community, universal design is the design and composition of a space set up to meet the needs of all users, not as a special requirement to benefit only a small fraction of a population. The practice results in inclusive environments that support high-functioning, independent living for …

July 26, 2022

Development Mixed-Use Office Texas Top Stories

Crow Holdings Plans 235,000 SF Mass Timber Office Building to Anchor Mixed-Use Development in Frisco, Texas

by John Nelson July 26, 2022

FRISCO, TEXAS — Crow Holdings Development (CHD), a Dallas-based real estate development firm and subsidiary of Crow Holdings, has released plans for The Offices at Southstone Yards, a mass timber office building in Frisco. The 235,000-square-foot property will anchor Southstone Yards, a 45-acre mixed-use development that will feature over 1 million square feet of office space at full buildout. In addition to offices, Southstone Yards will feature shops, restaurants, hotels, nine acres of green space, and more than 1,000 apartments and townhomes, including a five-story, 355-unit property that North Carolina-based LMC is developing. The Dallas Morning News reports that the mixed-use development is valued at $850 million. The seven-story office building represents the first mass timber office building in North Texas, according to CHD. Compared to common building materials like steel and concrete, developers are utilizing mass timber construction because they find it’s more sustainable, provides greater design flexibility, results in a lighter environmental footprint, offers higher thermal insulation and creates a warmer aesthetic. The Dallas Business Journal reports that The Offices at Southstone Yards will be among the largest mass timber office buildings in the United States at completion. The property will feature raised floors, which provides flexibility for …

July 26, 2022

Development Multifamily Student Housing Washington Western

Landmark Properties to Break Ground on 500-Bed Student Housing Community Near University of Washington

by Amy Works July 25, 2022

SEATTLE — Landmark Properties is set to break ground on The Mark at Seattle, a 500-bed student housing development located near the University of Washington campus. The Athens, Georgia-based company recently closed on the acquisition of the development site for the project at 1200 NE 45th St. in Seattle. The community will offer a mix of one- to five-bedroom fully furnished units. Shared amenities will include a 24-hour study lounge, computer lab, fitness center, club room, rooftop deck with a swimming pool and a sauna, alongside 3,300 square feet of ground-floor retail space. Landmark Construction will serve as general contractor for the duration of the project, which is scheduled for completion ahead of the fall 2025 semester. This is Landmark’s second project in the Seattle area, with The Standard at Seattle currently under construction. “Landmark is excited to start our second project at the University of Washington,” says Wes Rogers, Landmark president and CEO. “This location was particularly attractive as it is in the heart of the University District neighborhood and is just steps from campus. Given the high barriers to entry in this market and strong fundamentals at the University of Washington, this project fits our investment criteria perfectly.”

July 25, 2022

Acquisitions Industrial Washington Western

Colliers Brokers $106.1M Sale of Two Industrial Buildings in Kent, Washington

by Amy Works July 25, 2022

KENT, WASH. — Colliers has arranged the sale of two industrial properties in Kent. Holman Logistics sold the assets to Lift Partners for $106.1 million. Matt McGregor and Bill Condon of Colliers represented both parties in the off-market transaction. Totaling 381,790 square feet, the buildings are located at 22434 and 22408 76th Ave. South. The properties feature a mix of dock-high and grade-level loading doors, 200,000 square feet of excess yard and rail access to the Burlington Northern Santa Fe line. The buyer has agreed to a 12-month leaseback of the properties with the seller, which will continue to operate in the current buildings while it completes construction and relocation plans for new facilities in Fredrickson and Sumner.

July 25, 2022

Hospitality Loans Washington Western

Arriba Capital Arranges $63.9M Construction Loan for AC Hotel by Marriott in Downtown Seattle

by Amy Works July 25, 2022

SEATTLE — Arriba Capital has closed an $63.9 million syndicated construction loan for the development of an AC Hotel by Marriott in downtown Seattle. The borrower is a privately held hospitality management and development group based in the Southeast. Situated in the South Lake Union neighborhood, the hotel will feature 200 guest rooms.

July 25, 2022

Acquisitions Nevada Office Western

Dornin Investment Group Sells Marnell Corporate Center 3 Office Building in Las Vegas for $23.2M

by Amy Works July 25, 2022

LAS VEGAS — Dornin Investment Group has completed the sale of Marnell Corporate Center 3 (MCC3), a three-story, Class A office building in Las Vegas. A private investor acquired the asset for $23.2 million, or $325 per square foot. Located at 6725 Via Austi Parkway, MCC3 features 71,378 square feet of multi-tenant office space. The seller originally purchased the building in early 2014 for $222 per square foot as part of a portfolio that consisted of three multi-tenant office buildings totaling 176,960 square feet, all located within the master-planned Marnell Corporate Center. This is the third and final disposition of the portfolio. Marlene Fujita Winkel, Charles Moore and Alex Casingal of Cushman & Wakefield’s Private Capital Group in Las Vegas represented the seller in the deal. Charles Van Geel, also of Cushman & Wakefield, provided leasing advisory for the property.

July 25, 2022

Development Multifamily Oregon Seniors Housing Western

Anthology, Formation Plan 206-Unit Seniors Housing Community in Beaverton, Oregon

by Amy Works July 25, 2022

BEAVERTON, ORE. — Anthology Senior Living, the dedicated seniors housing platform of CA Ventures, has entered a joint venture partnership with Formation Development Group to build Anthology of Beaverton, a 207,169-square-foot senior living community in Beaverton. Situated on a 5.5-acre parcel outside of Portland, Anthology of Beaverton will feature 206 luxury independent living, assisted living and memory care units. The community is located near the Tanasbourne shopping district, which includes a Whole Foods, Starbucks and Macy’s, in addition to other shopping and dining locations. Major employers within close proximity include Nike World Headquarters and Intel. While development costs were not disclosed, CBRE arranged a $49.7 million construction loan for the project. Aron Will, Austin Sacco and Matthew Kuronen of CBRE National Senior Housing led the team on the floating-rate financing, which features partial interest-only payments through a national bank. The transaction marks the beginning of Anthology’s strategic alliance with Formation as a general partner investor. Anthology and Formation plan to further bolster their partnership through the co-sponsorship and development of future projects together. In addition to serving as development partner, Anthology will manage the property, expanding its owned/operated portfolio to 39 senior living communities across the U.S. Anthology expects to …

July 25, 2022

Industrial Leasing Activity Texas

Paladin Partners Negotiates 643,760 SF Industrial Lease in Sunnyvale, Texas

by Taylor Williams July 25, 2022

SUNNYVALE, TEXAS — Locally based brokerage firm Paladin Partners has negotiated a 643,760-square-foot industrial lease at 100-200 Planters Road, a newly built property located in the eastern Dallas suburb of Sunnyvale. Conrad Madsen and Greg Nelson of Paladin Partners represented the landlord, a partnership between locally based developers Langford Property Co. and Flaherty Development, in the lease negotiations. Adam Curran and Jay Benner of Cushman & Wakefield represented the tenant, an undisclosed, locally based manufacturer.

July 25, 2022

Acquisitions Georgia Multifamily Southeast

RangeWater, Artemis Sell Monroe Apartments in Atlanta for $91M

by John Nelson July 25, 2022

ATLANTA — RangeWater Real Estate and Artemis Real Estate Partners have sold The Monroe, a 217-unit apartment community located at 222 Colonial Homes Drive NW in Atlanta’s Brookwood neighborhood. ParkProperty Capital purchased the property, which was delivered in 2015, for $91 million. Robert Stickel and Alex Brown of Cushman & Wakefield represented the sellers in the transaction. Situated along the Atlanta BeltLine and overlooking the Bobby Jones Golf Course, The Monroe features studio, one-, two- and three-bedroom floor plans. Amenities include complimentary package receiving services, controlled access garage parking, an athletic club, saltwater pool, rooftop lounge with skyline views and a clubhouse equipped with a kitchen and coffee bar.

July 25, 2022

Acquisitions Alabama Multifamily Southeast

Kushner Acquires Apartment Community in Montgomery for $49.5M

by John Nelson July 25, 2022

MONTGOMERY, ALA. — Kushner Cos., a real estate developer and investor based in New York, has purchased Broadstreet at Eastchase, a 276-unit multifamily asset in Montgomery. The seller, an undisclosed local family office, sold the community for $49.5 million, or $182,000 per unit. Josh Jacobs and Royce Emerson of Marcus & Millichap represented the seller and procured the buyer in the transaction. Built in 2010, Broadstreet at Eastchase features one-, two- and three-bedroom floor plans ranging from 822 to 1,208 square feet, according to Apartments.com. Amenities include a 24-hour fitness center, trails, outdoor kitchen and lounge area, playground, resort-style swimming pool, dog park, detached garages, media center and a recreation room.

July 25, 2022

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