UNIVERSAL CITY, TEXAS — Capital advisory firm David B. Norton Inc. has arranged $35.4 million in construction financing for a 268-unit multifamily project in Universal City, a northeastern suburb of San Antonio. The development will consist of 10 buildings on a 14-acre site. The financing, which represents about 77 percent of the total project capitalization, includes both debt from an undisclosed regional bank and preferred equity from an undisclosed institutional investor. The name of the developer was also not released.
SURPRISE, ARIZ. — SimonCRE has closed on the purchase of the first phase of Asante Trails, a 12.4-acre retail project in Surprise, approximately 35 miles outside Phoenix. SimonCRE has announced a $50 million investment for the acquisition of Asante Trails. According to the Phoenix Business Journal, the seller was a partnership between SimonCRE and Jim Stockwell J. of Clyde Capital LLC, which acquired the land in 2023. The project will be part of a larger 90-acre mixed-use project that will anchor the Asante master-planned community. Phase I of Asante Trails will feature retail tenants including Farmer Boys, Jimmy John’s, Baskin-Robbins, Circle K and Clean Freak Car Wash. Roughly 19,000 square feet is available for lease.
OAKLAND, CALIF. — Gantry has secured $27.8 million in financing on behalf of a private real estate investor for the purchase of a portfolio of eight multifamily properties in Oakland. The portfolio includes 225 apartments and three commercial units at one of the properties. Jeff Wilcox and Erinn Cooke of Gantry represented the borrower. The financing was structured as a three-year, variable rate acquisition loan provided by a single institutional debt fund. The instrument included prepayment flexibility and extension options.
WALNUT, CALIF. — CapRock Partners has completed the disposition of West Valley Logistics Center, a LEED-certified industrial warehouse in Walnut. Completed in December 2024, West Valley Logistics offers 270,000 square feet of speculative industrial space situated on 12.5 acres at 4200 Valley Blvd. The property features a clear height of 40 feet, secure dual access with drive-around capabilities, rear loading with 28 dock-high doors, 45 trailer parking stalls, 130 car spots, ample power and 10,000 square feet of two-story office space. Matt Moore, Wes Hunnicut and Michael Torres of Stream Realty represented CapRock Partners, while Mike Hartel and Nick Velasquez of Colliers represented the undisclosed buyer in the deal. The acquisition price was not released.
CARLSBAD, CALIF. — Yunqun LLC has acquired a 21,481-square-foot multi-tenant industrial building located at 5924 Balfour Court in Carlsbad. The Gildred Cos. sold the asset for $6.2 million. Yunqun plans to occupy the vacant 12,105 square feet in the building for its manufacturing business with move-in expected later this year. Chris Baumgart and Steven Field of JLL represented the seller, while Hank Jenkins, Mike Erwin and Tucker Hohenstein of Colliers represented the buyer in the transaction.
AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has negotiated a 30,884-square-foot office lease in southeast Austin. The tenant, Prometheus Security Group Global, will occupy space at Bergstrom Tech Center, a 208,374-square-foot facility that was originally constructed in 1986 for defense contractor Lockheed Martin. ECR represented the landlord, Boyd Watterson Asset Management, in the lease negotiations. Endeavor Real Estate Group represented the tenant.
DENVER — Pinnacle Real Estate Advisors has arranged the sale of a retail and liquor store property located at 2035 S. Broadway in Denver. The 5,589-square-foot property traded for $4.7 million in an off-market transaction. The names of the seller and buyer were not released. Levi Saxen and Jack Eberwein of The Saxen Team of Pinnacle Real Estate Advisors represented the buyer and seller in the deal.
BUDA, TEXAS — Coated Metals Group has signed a 27,075-square-foot industrial lease in Buda, a southern suburb of Austin. The manufacturer of prefinished steel products is taking space at Building 7 of Buda Midway, a development whose second phase comprises four buildings totaling 382,000 square feet. Phase II buildings feature 30- to 32-foot clear heights and speculative office space. Leigh Ellis, Blake Patterson and Omar Nasser of AQUILA Commercial represented the landlord, United Properties, in the lease negotiations.
MINNEAPOLIS — Colliers has brokered the sale of ElseWarehouse, a 116-unit apartment building in the North Loop of Minneapolis. The sales price was undisclosed. The transaction marks the first time the historic warehouse apartments have hit the market. Mox Gunderson, Dan Linnell, Devon Dvorak and Adam Haydon of Colliers represented the seller, Greco. North Dakota-based Great States Development was the buyer. Greco converted the 1920s warehouse into apartments in 2012. Located at 730 N. Washington Ave., the property features a variety of one-, two- and three-bedroom units averaging 907 square feet. Amenities include a fitness center, rooftop clubrooms and retail space on the ground floor.
CHICAGO — ComPsych Corp. has signed a 50,000-square-foot headquarters lease at Prudential Plaza in Chicago. The mental health, well-being and absence management company will move from NBC Tower, where it occupies 152,000 square feet, to the seventh floor of One Pru in the first quarter of 2027. Wanxiang America Real Estate Group owns the property. Annie Kwasigroch and Dan Heckman of Riverside Investment & Development represented ownership in the lease, while Brian Means and Kellen Monti of JLL represented ComPsych. Prudential Plaza began a multimillion-dollar renovation and rebranding campaign in late 2023 that is ongoing. A glass-enclosed walkway connecting One and Two Pru will is expected to be completed in the next 60 days, enabling tenants to flow between the expanded 72,000-square-foot amenity space across the 11th floor. Other upgrades include a new 20,000-square-foot conferencing center, new coworking spaces, a fully staffed bar with grab-and-go coffee and food options and an entertainment suite with two golf simulators. Additional renovations are underway such as cold plunges and infrared saunas for the fitness center. Later this year, the outdoor deck will be expanded to include a new pickleball court and bar area overlooking Millennium Park. Completed in 1955 and renovated in 2014, …