Saturday, June 14, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Property Type

Meadowbrook Apartments
AcquisitionsAlabamaMultifamilySoutheast

Arch Cos. Sells Meadowbrook Apartments in Foley, Alabama for $6.8M

by Julia Sanders

FOLEY, ALA. — Arch Cos. has sold Meadowbrook Apartments, a 60-unit multifamily property located in Foley, for $6.8 million. Andrew Brown of Cushman & Wakefield represented Arch Cos. in the transaction. The buyer was not disclosed. Located at 701 S. Juniper St., Meadowbrook Apartments is situated 11.6 miles from Gulf Shores Beach. The multifamily property offers two- and three-bedroom apartments. Community amenities include a laundry center, balconies and patios, washer and dryer connections in select units and a playground. Arch Cos. acquired the apartment community in April 2018 and has maintained an occupancy rate above 95 percent throughout its ownership. Arch Cos. is a New York-based real estate owner, operator and developer with a portfolio of more than 3.4 million square feet across the country. So far this year, Arch Cos. has acquired over 1,700 units in garden-style properties throughout the Southeast.

Continue Reading
FacebookTwitterLinkedinEmail
The-Star-Office-Building-Frisco
DevelopmentOfficeTexas

Blue Star Land, Lincoln Property to Develop 313,000 SF Office Building at The Star in Frisco

by Taylor Williams

FRISCO, TEXAS — A partnership between Blue Star Land Co. and Dallas-based Lincoln Property Co. will develop a 313,000-square-foot office building at The Star, the Dallas Cowboys’ headquarters facility in Frisco. Designed by HKS Partners, the 11-story building will feature an 8,000-square-foot amenity deck and a 100-seat conference room. Construction is scheduled to begin before the end of the month and to be complete in the first quarter of 2023. Accounting firm Cain Watters & Associates has signed a lease as the building’s first tenant. Lincoln Property Co. is also handling leasing of the building.

Continue Reading
FacebookTwitterLinkedinEmail
Vecina-Apartment-Villas-San-Antonio
AcquisitionsMultifamilyTexas

IPA Negotiates Sale of 297-Unit Vecina Apartment Villas in San Antonio

by Taylor Williams

SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Vecina Apartment Villas, a 297-unit multifamily community located in north San Antonio. LIV Development completed the property in 2020. Amenities include a 10,000-square-foot clubhouse with private workspaces and a coffee bar, a 24-hour convenience mart, fitness center, pool and an outdoor sports lawn. Will Balthrope and Drew Garza of IPA represented the seller and procured the buyer, California-based Passco Cos., in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentLoansMultifamilyTexas

Barings Provides $43.5M Perm Loan for Metro Austin Affordable Housing Project

by Taylor Williams

MANOR, TEXAS — Barings has provided a $43.5 million permanent loan for Yager Flats, a 300-unit affordable housing community in Manor, an eastern suburb of Austin. The $73 million development will offer one-, two-, three- and four-bedroom units that will be reserved for renters earning between 30 and 60 percent of the area median income. Amenities will include a clubhouse, community room, fitness center, pool and a playground, and residents will also have access to adult education, workforce training, afterschool programming and health and wellness services. The borrower, Elmington Capital Group, is developing the property in partnership with Red Stone Equity Partners, which contributed $29.3 million in tax credit equity. Dallas-based Humphreys & Partners Architects is designing the project. Bank of America provided the original $40 million construction loan. A tentative completion date was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilyTexas

Capstone Brokers Sale of 288-Site Manufactured Housing Community in Alvin, Texas

by Taylor Williams

ALVIN, TEXAS — Capstone has brokered the sale of Sun Meadows Mobile Home Community, a 288-site manufactured housing community in Alvin, about 25 miles southeast of Houston. According to Apartments.com, the property was built in 1998 and includes a pool. Capstone’s Ian Hilpl, Kevan Enger, Brian Hummell and Hunter LaRocca represented the seller and procured the buyer, both of which requested anonymity, in the transaction. Sun Meadows was 96 percent occupied at the time of sale.

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialLeasing ActivityTexas

Morrison Express Signs 73,962 SF Industrial Lease in Grand Prairie, Texas

by Taylor Williams

GRAND PRAIRIE, TEXAS — Third-party logistics and supply chain management firm Morrison Express Corp. has signed a 73,962-square-foot industrial lease at GSW Distribution Center in Grand Prairie, located roughly midway between Dallas and Fort Worth. Blake Anderson of Newmark represented the tenant in the lease negotiations. CBRE represented the landlord, Morris Truman Associates LLC.

Continue Reading
FacebookTwitterLinkedinEmail
Torrance-Tech-Campus-Los-Angeles-CA
AcquisitionsCaliforniaIndustrialWestern

Rexford Industrial Buys Torrance Technology Campus in Los Angeles for $182M

by Amy Works

LOS ANGELES — Torrance FRM LLC has completed the disposition of Torrance Technology Campus, a five-building industrial facility situated on 27 acres in Los Angeles’ South Bay market. Rexford Industrial acquired the campus for $182 million. Located at 3100-3110 Lomita Blvd. and 3121 Skypark Drive, Torrance Technology Campus offers 575,976 square feet of industrial space. At the time of sale, the property was 90 percent leased to three credit tenants. L3Harris (S&P: BBB) occupies 80 percent of the campus. Other tenants include Torrance Memorial Medical Center and various parking tenants. Kevin Shannon, Scott Schumacher and Ken White of Newmark represented the seller, while the buyer was self-represented in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
Ativo-Sundance-Buckeye-AZ
ArizonaDevelopmentMultifamilySeniors HousingWestern

Link Senior Development, MedCore Partners Plan 202-Unit Seniors Housing Community in Buckeye, Arizona

by Amy Works

BUCKEYE, ARIZ. — Link Senior Development and MedCore Partners have unveiled plans for Ativo of Sundance, a 202-unit senior living community inside the Sundance Active Adult master-planned community in the Phoenix suburb of Buckeye. The campus will offer 103 independent living, 75 assisted living and 24 memory care units on a 10-acre tract. Construction of the 211,000-square-foot, three story project is scheduled to begin in late 2021 for an anticipated opening in summer 2023. Insight Senior Living will manage the community, including oversight of all programs and resident services. This will be Insight’s third senior living project in Arizona. Ankrom Moison Architects designed the facility. Link and MedCore are collaborating on two other developments in Albuquerque, New Mexico and Tracy, California. The two firms previously worked together on the 2019 sale and acquisition of five senior living communities in Arizona and Utah.

Continue Reading
FacebookTwitterLinkedinEmail
2-N-Lake-Pasadena-CA
AcquisitionsCaliforniaOfficeWestern

Cushman & Wakefield Negotiates Sale of 242,012 SF Office Portfolio in Pasadena, California

by Amy Works

PASADENA, CALIF. — Cushman & Wakefield has arranged the sale of a three-building office portfolio, known as 2 N Lake, in downtown Pasadena. A Los Angeles-based private investor acquired the asset from 2 North Lake JV LLC, a private family ownership located in Hong Kong and Los Angeles, for $80 million. Totaling 242,012 square feet, the portfolio consists of an 11-story building, a three-story building, a single-story building and a six-story parking garage. The buildings were collectively 63 percent leased at the time of sale. The buyer plans to implement a Class A repositioning of the property, including renovating the lobbies, activating the outdoor areas and implementing other interior and exterior upgrades. Mike Condon Jr., Erica Finck, Bailey Dawson and Marc Renard of Cushman & Wakefield represented the seller, while the buyer was unrepresented in the deal. Cushman & Wakefield’s Shaun Stiles, Steven Marcussen and Katie Cowan also partnered in the sale and were retained for future leasing of the property.

Continue Reading
FacebookTwitterLinkedinEmail
Enchanted-Springs-Colorado-Springs-CO
AcquisitionsColoradoMultifamilyWestern

Colliers Brokers $65M Sale of Enchanted Springs Apartments in Colorado Springs

by Amy Works

COLORADO SPRINGS, COLO. — Colliers Multifamily Advisory Group has arranged the sale of The Enchanted Springs Apartments, a multifamily property located at 3281 Divine Heights in Colorado Springs. A private investor sold the property to Hamilton Zanze for $65 million, or $325,000 per unit. Built in 2020, Enchanted Springs features 200 apartments, an indoor fitness center, clubhouse, resort-style swimming pool, spa and business center. Bill Morkes, Craig Stack and Keegan Hofer of Colliers represented the seller in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts