GEORGETOWN, TEXAS — Walker Real Estate and Chalk Hill Ventures have completed construction of an active adult community in Georgetown, a northern suburb of Austin. Located on a 12-acre site near Rabbit Hill, NorthStar Georgetown includes 298,800 square feet of active adult living comprising 210 apartments. Roscoe Property Management is the operator. Other project partners include Pi Architects, Square One Consultants, Pat Berry Design and Skybeck Construction.
PORTLAND, ORE. — San Diego-based Pathfinder Partners has completed the acquisition of FortyOne 11 Apartments, a multifamily property in northeast Portland. An undisclosed seller sold the property for $27.4 million. FortyOne 11 features 112 apartments and was 76 percent occupied at the time of sale. The investment was made from Pathfinder Partners Opportunity Fund VIII, which was raised in 2020 to make opportunistic multifamily investments. Pathfinder Fund VIII also invests in Seattle, Sacramento, Southern California, Phoenix and Denver.
PHOENIX — Wadsworth Development Group has acquired a 10-acre land parcel located at the southwest corner of 15th Avenue and Pinnacle Peak Road in the Deer Valley submarket of Phoenix. An undisclosed seller sold the property for $6.1 million. Wadsworth plans to develop a speculative industrial project offering 136,000 square feet spread across three buildings. Slated for completion this August, the facilities will feature 28-foot to 32-foot clear heights, grade-level loading, 227/480-volt power and above-market parking ratio. Robert Lundstedt, Skip Corley and Chase Heinemann of DAUM Commercial represented the seller and procured the buyer in the transaction.
SOUTHLAKE, TEXAS — Chicago-based American Bear Logistics Corp. has signed a 19,451-square-foot industrial lease at 419 Bank St. in Southlake. The global logistics firm will occupy space within Southlake Business Park, a three-building, 12.6-acre development located less than five miles from Dallas-Fort Worth International Airport. Noah Dodge and Joe Santaularia of Bradford Commercial Real Estate Services, along with Nick Krejci of Darwin Realty, represented the tenant in the lease negotiations. Hogan Harrison, Matt Carthey and George Jennings of Holt Lunsford Commercial represented the landlord, an entity doing business as Southlake Industrial LP.
NORTH LAS VEGAS, NEV. — Colliers International has brokered the sale of an industrial building located within Civic Center Freeway Industrial Park at 3679 N. Civic Center Drive in North Las Vegas. Civic Center Industrial Owner LLC sold the asset to Sage Harbor Exchange Inc. for $14.5 million. The property features 118,021 square feet of industrial space. Dan Doherty, Paul Sweetland, Chris Lane and Jerry Doty of Colliers International represented the seller in the deal.
AUSTIN, TEXAS — NorthMarq has provided a $2.7 million Freddie Mac acquisition loan for Village Flats, a 48-unit apartment complex located at 8930 Galewood Drive in North Austin. According to Apartments.com, the property was built in 1980 and offers one-bedroom units. Chase Johnson of NorthMarq originated the financing through Freddie Mac’s Small Balance Loan program on behalf of the undisclosed borrower.
ATLANTA — Community Solutions and Atlanta-based Partners for Home have purchased Centra Villa, a 132-unit apartment building in Atlanta that will be reimagined to provide affordable housing for veterans experiencing homelessness. The project is expected to cost $12 million. Located at 1717 Centra Villa Drive SW, Centra Villa is situated 2.8 miles from the Fort McPherson Veteran Affairs Clinic, providing its tenants with close access to medical services and other community resources, including long-term, permanent housing. Centra Villa will increase the number of units available to house veterans. The current tenants will continue to stay, and the project aims to have 50 percent of the units set aside for vulnerable veterans, which will be accomplished through natural attrition. The City of Atlanta provided a HomeFirst grant to the co-developers. The Atlanta Affordable Housing Fund provided a social impact subordinate loan, and Fannie Mae provided the mortgage. The Home Deport Foundation also provided an undisclosed amount of funding. The property is being built as part of Built for Zero, Community Solutions’ national initiative comprising 80 cities and counties to measurably end homeless. The City of Atlanta joined the initiative last year.
MEMPHIS, TENN. — DLP Real Estate Capital, a private financial services and real estate investment firm, has acquired Vantage at Germantown, a 288-unit, garden-style apartment community at 7885 Silver Spur Circle, North Dr. in Memphis. The three-story property features one-, two- and three-bedroom units with an average 837 square feet. The sales price was not disclosed, but the seller was Vantage Communities. Built in 2020, Vantage at Germantown sits on over 22 acres and includes a swimming pool with outdoor cabanas and a fireplace, media lounge with internet cafe, clubhouse, 24-hour fitness studio, remote access gates and a bark park. The units feature energy-efficient appliances with full-size washer and dryer, tiled backsplash, closets and personal balconies.
HOUSTON — Healthcare provider Kelsey-Seybold will open a 7,500-square-foot clinic at Shops at Stone Park, a 149,029-square-foot shopping center located at 5820 E. Sam Houston Parkway in Houston’s North Channel submarket. The tenant will occupy a junior anchor space formerly leased to Dressbarn. A tentative opening date was not released. Ashley Strickland, Nick Ramsey and Kevin Sims internally negotiated the lease on behalf of the owner, Houston-based NewQuest Properties.
KERRVILLE, TEXAS — Gulf Avionics, an aerospace maintenance and repair firm, has relocated its headquarters and operations to a 7,000-square-foot space in the Central Texas city of Kerrville. The new facility will service aviation clients from the greater San Antonio area. Gulf Avionics, a division of E.H. Caddis & Co., which also owns Dallas-based RBR Aviation, plans to add 50 avionics and aerospace jobs to the local economy over the next five years.
