Property Type

JLL Arranges $95.2M Construction Financing, JV Equity for Multifamily Development in Portland

by Amy Works March 28, 2022

PORTLAND, ORE. — JLL Capital Markets has secured $95.2 million in construction financing and joint venture equity for the development of Slabtown Square, a multifamily project in Portland. The borrower is Guardian Real Estate Services. Casey Davidson and Charlie Watson of JLL Capital Markets arranged the four-year, floating-rate construction loan through a large money center bank, while Ira Virden and Mark Erland of JLL’s equity placement team secured the joint venture equity through an institutional investor. Located at 2070 NW Quimby St., the seven-story Slabtown Square will feature 200 studio, one- and two-bedroom units with vinyl plank flooring, quartz countertops, stainless steel appliances, and in-unit washers and dryers. Community amenities will include a fitness enter, yoga studio, clubhouse with kitchen and lounge, rooftop deck and 230 bicycle parking stalls. Additionally, the development will feature 11,542 square feet of ground-floor retail space.

March 28, 2022

Acquisitions Multifamily Washington Western

Everett Housing Authority Buys Huntington Park Apartments in Washington for $118M

by Amy Works March 28, 2022

EVERETT, WASH. — Everett Housing Authority (EHA) has acquired Huntington Park Apartments, an affordable multifamily property in Everett, for $118 million. The acquisition is part of EHA’s large-scale affordable housing preservation strategy. Built in 1991 on 14 acres, the property features 381 apartments, a fitness center, pool, dog park and clubhouse. EHA plans to renovate the property over the next several years with new windows, parking lot repair and sealcoat, roof replacements, and unit renovations as units turn over. KeyBanc Capital Markets’ public sector team arranged the 100 percent loan-to-cost short-term debt for the acquisition.

March 28, 2022

Acquisitions Arizona Industrial Western

Oxford, EverWest Acquire Chandler Airpark in Arizona for $26.3M

by Amy Works March 28, 2022

CHANDLER, ARIZ. — A joint venture between Oxford Properties Group and EverWest Real Estate Investors has acquired Chandler Airpark, a Class A industrial portfolio located in Chandler, for $26.3 million. The transaction completes the acquisition of a three-building, 261,940-square-foot, Class A industrial portfolio that was recently built. Chandler Airpark comprises 148,830 square feet in two buildings totaling 82,119 square feet and 66,711 square feet, respectively. Each building features 28-foot clear heights, dock-high and ground-level loading positions, concrete truck courts and generous power and parking. Oxford and EverWest began the acquisition of the portfolio in late 2021, with the purchase of 800 E. German Road for $20 million. Last month, the companies announced the building’s full, 113,100-square-foot lease-up to a sustainable technology company. Chandler Airpark and 800 E. German are located along E. German Road. Together the portfolio totals 261,940 square feet. Amr Ceran and Erik Good of EverWest arranged the transaction. Will Strong of Cushman & Wakefield brokered the sale.

March 28, 2022

Acquisitions California Industrial Western

Cohen Asset Management Purchases 65,000 SF Industrial Building in Pico Rivera, California

by Amy Works March 28, 2022

PICO RIVERA, CALIF. — Cohen Asset Management has purchased an industrial property located at 8640 Slauson Ave. in Pico Rivera. Terms of the transaction were not released. At the time of sale, the 65,000-square-foot building was 100 percent leased.

March 28, 2022

Acquisitions Colorado Multifamily Western

NorthPeak Commercial Brokers $15M Sale of Multifamily Portfolio in Denver

by Amy Works March 28, 2022

DENVER — NorthPeak Commercial Advisors has arranged the sale of a multifamily portfolio located at 1635 and 1671 Cook St., and 1620 Adams St. in Denver. The assets traded for $15 million. Totaling 30,023 square feet, the portfolio features 52 apartments. Joe Hornstein and Scott Fetter of NorthPeak Commercial Advisors represented the undisclosed buyer, while Robert Lawson of Pinnacle Real Estate Advisors represented the undisclosed seller in the deal.

March 28, 2022

Acquisitions Multifamily Texas

Castle Lanterra Acquires 366-Unit Sovereign Twin Creeks Apartments in Metro Dallas

by Taylor Williams March 28, 2022

ALLEN, TEXAS — New York-based investment firm Castle Lanterra Properties has acquired Sovereign Twin Creeks, a 366-unit apartment community in the northeastern Dallas suburb of Allen. The property offers one-, two- and three-bedroom units that range in size from 786 to 1,416 square feet and are furnished with stainless steel appliances and granite countertops. Amenities include a pool with cabanas, fitness center with a yoga studio, Wi-Fi lounge with a coffee bar, outdoor grilling and dining areas and a conference room. Institutional Property Advisors, a division of Marcus & Millichap, brokered the deal. The seller was not disclosed.

March 28, 2022

Development Multifamily Texas

Hillwood Breaks Ground on 300-Unit Casey at Frisco Station Apartments in Metro Dallas

by Taylor Williams March 28, 2022

FRISCO, TEXAS — Hillwood has broken ground on The Casey at Frisco Station, a 300-unit multifamily project that will be located on the northern outskirts of Dallas. Designed by JHP Architecture, the five-story building represents Hillwood’s third multifamily project within the 242-acre Frisco Station mixed-use development and follows The Cadence at Frisco Station, which opened last September. Units will offer one- and two-bedroom floor plans that will range in size from 513 to 1,375 square feet and feature built-in desks, stainless steel appliances, walk-in closets and private patios/balconies. Amenities will include a coworking lounge with private offices and conference facilities, pool, fitness center and a library. The first units are expected to be available for occupancy in fall 2023.

March 28, 2022

Development Industrial Texas

Stonemont Financial to Develop 230,000 SF Spec Industrial Project in Metro Austin

by Taylor Williams March 28, 2022

GEORGETOWN, TEXAS — Atlanta-based Stonemont Financial Group has acquired an 18-acre site just off Interstate 35 in the northern Austin suburb of Georgetown for the development of a 230,000-square-foot speculative industrial project. Westinghouse35 will feature a rear-load configuration, 32-foot clear heights and 58 dock doors, as well as up to 345 auto parking stalls and 68 full-size trailer parking stalls. Project partners include architecture firm GMA, civil engineer Kimley-Horn, design-build firm ARCO/Murray and leasing agent KBC Advisors. Completion is slated for the first half of 2023.

March 28, 2022

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 57,607 SF Industrial Lease in West Dallas

by Taylor Williams March 28, 2022

DALLAS — Lee & Associates has negotiated a 57,607-square-foot industrial lease at 119 Regal Row in the Brookhollow submarket of West Dallas. The property spans 182,149 square feet and features 28-foot clear heights, 115-foot truck court depths and 10 trailer stalls. Stephen Williamson and Matthew Johnson of Lee & Associates represented the landlord, Dogwood Industrial Properties, which acquired the asset in 2019, in the lease negotiations. The name and representative of the tenant were not disclosed.

March 28, 2022

Leasing Activity Office Texas

Tricentis Signs 42,019 SF Office Lease at Uplands Corporate Center in North Austin

by Taylor Williams March 28, 2022

AUSTIN, TEXAS — Tricentis, a provider of automated software testing services, has signed a 42,019-square-foot office lease at Uplands Corporate Center, a recently expanded office campus in North Austin. Russell Young of JLL represented the tenant, which plans to hire about 100 new employees, in the lease negotiations. Kevin Granger and Matt Frizzell of Cushman & Wakefield represented the landlord, Drawbridge Realty.

March 28, 2022

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