Property Type

Lloyd Jones Acquires 10.6 Acres in Port St. Lucie, Florida, Plans Seniors Housing Development

by Julia Sanders August 20, 2021

PORT ST. LUCIE, FLA. — Lloyd Jones LLC has acquired a 10.6-acre parcel in Port St. Lucie for the development of AVIVA Port St. Lucie, a 159-unit independent living community. The project developers plan to break ground next month, and occupancy is anticipated for January 2023. Located on Lake Whitney Road, AVIVA Port St. Lucie is located close to Interstate 95, a Super Walmart, restaurants and a medical office park. The floorplans will include one- and two-bedroom apartments with dens, balconies, full kitchens and closets. Community amenities will include a pool, putting green, bar, walking trails and multipurpose rooms for social activities. Independent living services include two meals per day, housekeeping, linen services and planned entertainment and activities. The property will operate under Lloyd Jones’ proprietary AVIVA brand, which caters to lifestyles ranging from active adult to independent living. AVIVA Port St Lucie will be operated by Lloyd Jones Senior Living Management, the senior housing management division of Lloyd Jones.

August 20, 2021

Acquisitions Georgia Office Southeast

Skyline Seven Real Estate Brokers $8.8M Sale of Office Building in Atlanta

by Julia Sanders August 20, 2021

ATLANTA — Skyline Seven Real Estate has brokered the sale of an office building in the Buckhead submarket of Atlanta. Elliott Kyle and Chase Murphy of Skyline Seven represented the buyer, an Atlanta-based private investor that purchased the asset for $8.8 million. Jeff Richardson of CTR Commercial Real Estate represented the seller, Inman Property Co. Located at 1801 Peachtree St., the office building is situated about 0.4 mile from Piedmont Hospital, about 2.4 miles from Piedmont Park and 14.5 miles from Hartsfield-Jackson Atlanta International Airport. The building totals 52,833 square feet and is leased to 10 tenants with three vacant spaces.

August 20, 2021

Development Loans Multifamily Texas

JPI Receives Construction Financing for 386-Unit Multifamily Project in Haltom City, Texas

by Taylor Williams August 20, 2021

HALTOM CITY, TEXAS — Locally based developer JPI has received construction financing for Jefferson Fossil Creek, a 386-unit multifamily project that will be located north of Fort Worth in Haltom City. Units will feature stainless steel appliances, granite countertops and walk-in closets. Amenities will include a pool with cabanas, demonstration kitchen, coffee bar and an outdoor CrossFit area. Construction is scheduled to begin in September, and the first units are expected to be available for occupancy by early 2023. The name of the lender and other details of the financing were not disclosed.

August 20, 2021

Acquisitions Industrial Midwest Ohio

MAG Capital Partners Acquires 483,048 SF Ohio Industrial Property in Sale-Leaseback

by Kristin Harlow August 20, 2021

LANCASTER, OHIO — MAG Capital Partners LLC has acquired a 483,048-square-foot industrial property in Lancaster, about 30 miles southeast of Columbus. The purchase price was undisclosed. MAG Capital Partners acquired the facility in a sale-leaseback transaction with the tenant, The Babcock & Wilcox Co., a fully owned subsidiary of the publicly traded energy and environmental technologies giant Babcock & Wilcox Enterprises Inc. Located at 2600 E. Main St., the property primarily supports Babcock & Wilcox’s thermal business and is the company’s largest manufacturing and production facility. Built in 1949, the property includes three buildings on 51 acres. Mary Garnett and Jim Tuesley of Barnes & Thornburg LLP represented MAG Capital Partners in the transaction. Gary Gladder of Cresa represented Babcock & Wilcox. Led by Dax Mitchell and Andrew Gi, MAG Capital Partners is a Fort Worth, Texas-based real estate investment firm.

August 20, 2021

Development Multifamily Single-Family Rental Texas

Avanta Residential Acquires Land in McKinney, Plans 276-Unit Single-Family Rental Community

by Taylor Williams August 20, 2021

MCKINNEY, TEXAS — Denver-based Avanta Residential, a division of Hunt Cos., has acquired 27 acres in the northern Dallas suburb of McKinney for the development of a 276-unit single-family rental community. The new residential complex will be located within the Painted Tree master-planned development. Communal amenities will include a pool, clubroom, leasing office and a fitness center. Residents will also have access to green space, pocket parks and electric car charging stations. Walker & Dunlop arranged the equity financing for the project. Construction is slated to begin in November and to be complete in mid-2023.

August 20, 2021

Acquisitions Midwest Missouri Office

Avison Young Negotiates Sale of 181,631 SF Office Building in Metro St. Louis

by Kristin Harlow August 20, 2021

DES PERES, MO. — Avison Young has negotiated the sale of a 181,631-square-foot Class A office building at 12800 Corporate Hill Drive in Des Peres, just west of St. Louis. The sales price was undisclosed. The six-story property, built in 1984 and renovated in 2020, is fully occupied on a long-term basis by Centene Corp. The building features 30,000-square-foot floor plates and a three-story parking garage that can accommodate nearly 1,000 vehicles. Erik Foster and Mike Wilson of Avison Young represented the seller, a regional institutional asset manager. Sovereign Capital was the buyer.

August 20, 2021

Acquisitions Industrial Michigan Midwest

Colliers Brokers Sale of 80,000 SF Industrial Building in Flint, Michigan

by Kristin Harlow August 20, 2021

FLINT, MICH. — Colliers International Ann Arbor has brokered the sale of an 80,000-square-foot industrial building in Flint for an undisclosed price. The sale also includes nearly 13 acres of vacant land. Jim Chaconas and Joe Campbell of Colliers represented the seller, Fenton, Mo.-based Creative Foam Concepts. The buyer, Overhead Conveyor Co., specializes in custom manufacturing and installations of overhead conveyor systems.

August 20, 2021

Loans Midwest Multifamily Ohio

FM Capital Arranges $4.5M Loan for Refinancing of Apartment Community in Lorain, Ohio

by Kristin Harlow August 20, 2021

LORAIN, OHIO — FM Capital has arranged a $4.5 million loan for the refinancing of Pinebrook Tower Apartments in Lorain, about 30 miles west of Cleveland. Located at 1235 Shaffer Drive, the apartment community includes 168 units along with a swimming pool and tennis courts. Noam Temchin and Jonathan Kramer of FM Capital arranged the 10-year loan on behalf of the borrower, Rokhel Investment Group Holding LLC. Sabal provided the loan.

August 20, 2021

Development Lee & Associates Midwest Multifamily Wisconsin

Lee & Associates Brokers Sale of Multifamily Development Site in Middleton, Wisconsin

by Kristin Harlow August 20, 2021

MIDDLETON, WIS. — Lee & Associates has brokered the sale of a one-acre site at 2644 Branch St. in Middleton, just northwest of Madison. The sales price and seller were undisclosed. John Walsh of Lee & Associates represented the buyer, Branch Street Properties LLC. The buyer plans to build a luxury apartment building rising three stories with 36 units.

August 20, 2021

Industrial Loans Texas

Thorofare Capital Provides $15.9M Acquisition Loan for Houston Industrial Asset

by Taylor Williams August 20, 2021

HOUSTON — Los Angeles-based Thorofare Capital has provided a $15.9 million bridge loan for the acquisition of a 234,215-square-foot warehouse and distribution building in Houston. The property features 25-foot clear heights and 25 dock-high doors. The undisclosed borrower will use a portion of the proceeds of the loan, which was structured with a 45-month term and an extension option, to fund capital improvements.

August 20, 2021

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