Property Type

Cushman & Wakefield Arranges Sale of 237-Unit Multifamily Community in Springdale, Arkansas

by Julia Sanders February 18, 2021

SPRINGDALE, ARK. — Cushman & Wakefield has facilitated the sale of Towne Park at Har-ber, a 237-unit apartment community located in Springdale. Martin Bynum and Craig Hey of Cushman & Wakefield represented the Little Rock-based seller, BSR REIT, in the transaction. Block Funds bought the property for $31.7 million, according to the seller. Constructed in 2016, Towne Park at Har-ber is located at 257 Arborside Road, 68 miles from Fort Smith Regional Airport. Amenities include swimming pool with sun deck, fully equipped fitness center and a community clubhouse.

February 18, 2021

Affordable Housing Alabama Development Loans Multifamily Southeast

Bellwether Provides $11.6M HUD-Insured Loan for Affordable Housing Community in Dothan, Alabama

by Julia Sanders February 18, 2021

DOTHAN, ALA. — Bellwether Enterprise Real Estate Capital LLC has provided an $11.6 million HUD 221(d)(4) loan for the rehabilitation of an affordable housing community in Dothan. The 50-unit public housing property, Capstone at Kinsey Cove, is located at 1121 Kinsey Road. Jon Killough of Bellwether Enterprise’s Alabama office originated the loan on behalf of the borrower, an affiliate of The Banyan Foundation. The financing is part of HUD’s Rental Assistance Demonstration (RAD) program, which allows housing authorities to access private capital to meet capital needs while also protecting long-term affordability. Capstone at Kinsey Cove includes a one-story office building and a one-story maintenance structure. Community amenities include a community room, business and computer lab, central laundry facility, playground, picnic area, off-street surface parking and onsite management. In addition to the HUD loan, the transaction’s capital stack includes 4 percent Low-Income Housing Tax Credits (LIHTC) syndicated by Raymond James Tax Credit Funds and subordinate loans provided by the Housing Authority of the City of Dothan. The rehabilitation total development cost will be $158,000 per unit. Upon rehabilitation, units will receive dishwashers, microwaves and vinyl plank flooring. The estimated completion date of the renovations is July 2022.

February 18, 2021

Acquisitions Florida Retail Southeast

SRS Brokers $1.7M Sale of Medical Cannabis-Occupied Retail Property in Jacksonville

by Julia Sanders February 18, 2021

JACKSONVILLE, FLA. — SRS Real Estate Partners’ National Net Lease Group has brokered the $1.7 million sale of a retail property located at 9760 San Jose Blvd. in Jacksonville. The property is triple-net leased to Curaleaf, a medical cannabis provider. Curaleaf, which operates approximately 100 stores, recently signed a 10-year lease at the 2,619-square-foot location. William Wamble and Patrick Nutt of SRS represented the unnamed seller, a national investment and development company, in the sale. Alex Wolak of Podium Realty Group represented the all-cash buyer, a Brazil-based investor.

February 18, 2021

Acquisitions Industrial Texas

Sealy & Co. Acquires 663,821 SF Warehouse, Distribution Building in Northeast Houston

by Taylor Williams February 18, 2021

HOUSTON — Dallas-based investment firm Sealy & Co. has acquired a 663,821-square-foot warehouse and distribution building located at the intersection of McCarty Drive and Loop 610 in northeast Houston. The rail-served property is situated on 40 acres and features 200 trailer parking spaces with additional expansion capacity. Tom Lynch and Faron Wiley of CBRE, along with Scott Sealy Jr. and Jason Gandy of Sealy & Co., handled the transaction on behalf of the buyer. First Industrial Real Estate Trust sold the asset for an undisclosed price.

February 18, 2021

Acquisitions Multifamily Texas

MLG Capital Purchases 328-Unit Heights at Harper’s Preserve Apartments in Conroe, Texas

by Taylor Williams February 18, 2021

CONROE, TEXAS — Wisconsin-based investment firm MLG Capital has purchased Heights at Harper’s Preserve, a 328-unit apartment property located within the Harper’s Preserve master-planned community in Conroe, about 40 miles north of Houston. Heights at Harper’s Preserve offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center, resident lounge and a complimentary breakfast and coffee bar. MLG Capital now owns approximately 10,700 apartments in Texas. The seller was not disclosed.

February 18, 2021

Acquisitions Industrial Self-Storage Texas

Cushman & Wakefield Brokers Sale of 266-Unit Tulsa Hills Self-Storage Facility

by Taylor Williams February 18, 2021

TULSA, OKLA. — Cushman & Wakefield has brokered the sale of Tulsa Hills Storage, a self-storage facility that consists of 71 climate-controlled units, 176 non-climate-controlled units and 19 parking spaces for a total of 266 storage options. Trey Hammond, Mike Mele and Luke Elliott of Cushman & Wakefield represented the sellers, Paul Korte, Brett Biery, Anthony Isler and McAuley Properties LLC, in the transaction. Attic @ Tulsa Hills LLC acquired the property for an undisclosed price.

February 18, 2021

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 19,451 SF Industrial Lease Near Fort Worth

by Taylor Williams February 18, 2021

SOUTHLAKE, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 19,451-square-foot industrial lease at Southlake Business Park, located on the outskirts of Fort Worth. Matt Carthey, George Jennings and Hogan Harrison of Holt Lunsford represented the landlord in the lease negotiations. Joe Santaularia of Bradford Commercial represented the tenant, American Bear Logistics.

February 18, 2021

Acquisitions Industrial NAI Texas

NAI Partners Arranges Sale of 7,168 SF Industrial Property in Southeast Houston

by Taylor Williams February 18, 2021

HOUSTON — NAI Partners has arranged the sale of a 7,168-square-foot industrial property located at 1515 Globe St. in southeast Houston. According to LoopNet Inc., the single-tenant property was built in 1980. Michael Keegan, Darren O’Conor and Andrew Laycock of NAI Partners represented the undisclosed seller in the transaction. Additional terms of sale were not disclosed.

February 18, 2021

Industrial Leasing Activity New York Northeast

Briggs & Stratton Signs 566,706 SF Industrial Lease in Upstate New York

by Taylor Williams February 18, 2021

SHERRILL, N.Y. — Briggs & Stratton, a Wisconsin-based manufacturer of gasoline engines, has signed a 566,706-square-foot industrial lease at Silver City Industrial Campus in Sherrill, an eastern suburb of Syracuse. Silver City Industrial Campus spans 90 acres and 864,668 square feet and includes 200,000 square feet of land for future expansion. A partnership between Florida-based firm Index Investment Group and OX Group owns the property.

February 18, 2021

Development Multifamily New Jersey Northeast

Mill Creek Breaks Ground on 295-Unit Modera Montville Apartments in New Jersey

by Taylor Williams February 18, 2021

MONTVILLE, N.J. — Mill Creek Residential has broken ground on Modera Montville, a 295-unit apartment community that will be located about 35 miles west of New York City. The community will offer one-, two- and three-bedroom units that will feature stainless steel appliances, quartz countertops, custom cabinetry and individual washers and dryers. Amenities will include a resident lounge, business center, fitness center, coffee bar, game room, outdoor grilling areas and a rooftop deck. The first move-ins are expected to begin in 2023.

February 18, 2021

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