Property Type

Rosewood, Champion Begin Work on 610,000 SF Spec Industrial Project in Metro Dallas

by Taylor Williams November 2, 2021

WILMER, TEXAS — A partnership between two locally based developers, Rosewood Property Co. and Champion Partners, has begun construction on Tradepoint 45 East, a 610,000-square-foot speculative industrial project located in the southern Dallas suburb of Wilmer. Tradepoint 45 East will feature 40-foot clear heights, 112 dock doors and 215 trailer stalls. Pross Design Group is the project architect, and Kimley-Horn is the civil engineer. The Conlan Co. is the general contractor, and Veritex Community Bank provided construction financing. Stream Realty Partners is marketing the building for lease. Construction is slated for a third-quarter 2022 completion.

November 2, 2021

Development Multifamily Texas

Presidium Breaks Ground on 368-Unit Multifamily Project in Frisco Square

by Taylor Williams November 2, 2021

FRISCO, TEXAS — Texas-based multifamily developer Presidium has broken ground on Presidium Frisco Square, a 368-unit multifamily project located within the Frisco Square mixed-use development in metro Dallas. Units will offer keyless entry mechanisms, ecobee thermostats and energy-efficient appliances. Amenities will include a pool, three courtyards with outdoor kitchens, a dog park, clubroom, cinema lounge, golf simulator, fitness center and a business center with micro-offices and a podcast room. Dallas-based O’Brien Architects designed the project. Presidium expects to deliver the first units in June 2023.

November 2, 2021

Acquisitions Multifamily Texas

LYND Living Buys Legends Lakeline Apartments in North Austin for $46.6M

by Taylor Williams November 2, 2021

AUSTIN, TEXAS — San Antonio-based investment firm LYND Living has purchased Legends Lakeline, a 222-unit apartment community located in North Austin, for $46.6 million. Built in 2008, the property features one-, two- and three-bedroom units ranging in size from 675 to 1,717 square feet. Amenities include a pool, fitness center, grilling stations, resident clubhouse, business center and a dog run. The new ownership will invest about $4 million in capital improvements to the unit interiors, building exteriors and amenity spaces. The seller was not disclosed. Marc Suarez of Lument provided a $41.2 million acquisition loan for the deal.

November 2, 2021

Acquisitions Multifamily Oklahoma Texas

Wynmor Management Acquires Oklahoma City Apartment Complex for $13.6M

by Taylor Williams November 2, 2021

OKLAHOMA CITY — New York-based private equity firm Wynmor Management LLC has acquired Riverchase Apartments, a 252-unit multifamily community in Oklahoma City, for $13.6 million. Built in 1971, the property consists of 10 three-story buildings and an additional building that serves as an office, as well as a pool, basketball and tennis courts. The seller was Texas-based Casa Claire Apartments LLC. Wynmor plans to implement a value-add program.

November 2, 2021

Industrial Loans Retail Self-Storage Texas

Cronheim Mortgage Arranges $7.8M Refinancing for Self-Storage, Retail Asset Near Fort Worth

by Taylor Williams November 2, 2021

CHATHAM, N.J. — New Jersey-based Cronheim Mortgage has arranged a $7.8 million loan for the refinancing of a self-storage and retail asset located in the Fort Worth area. The property, formerly a grocery-anchored retail center, consists of a CubeSmart-branded self-storage facility with roughly 1,000 units and a 10,000-square-foot retail space occupied by Goodwill. David Turley, Janet Proscia and David Poncia of Cronheim arranged the nonrecourse, fixed-rate loan on behalf of the borrower, an affiliate of California-based DealPoint Merrill. An undisclosed national bank provided the loan. The address of the property was not disclosed.

November 2, 2021

Development Illinois Industrial Midwest

Contegra Completes 624,000 SF Distribution Center in Metro St. Louis, Begins Construction of 1 MSF Facility

by Kristin Harlow November 2, 2021

PONTOON BEACH, ILL. — Contegra Construction Co. has completed the third distribution center at NorthPoint Development’s Gateway Tradeport in Pontoon Beach, about 13 miles northwest of St. Louis. Contegra is now building a 1 million-square-foot facility at the development that will be the largest speculative distribution center in the St. Louis area, according to the general contractor. With the completion of the 624,000-square-foot Gateway Tradeport III, the 600-acre Gateway Tradeport is now home to more than 1.7 million square feet of distribution space, all of which was built by Contegra. Building III features a clear height of 40 feet, 64 dock doors and parking for 181 trailers. Building IV is slated for completion in 2022.

November 2, 2021

Healthcare Midwest Ohio

KeyBank Launches $750M Healthcare Real Estate Fund

by Kristin Harlow November 2, 2021

CLEVELAND — Cleveland-based KeyBank Real Estate Capital, the commercial real estate business unit of KeyCorp (NYSE: KEY), has established a new unitranche loan program with Toledo-based Welltower Inc. The healthcare real estate fund will total $750 million in lending capacity and will provide first mortgage financing on seniors housing and skilled nursing facilities. A unitranche loan blends senior and junior debt pricing and terms into a single first lien debt facility rather than creating two classes of debt and coordinating among multiple lenders. This approach increases certainty of execution, and borrowers typically benefit from a single lending entity and blended interest rate, according to KeyBank.

November 2, 2021

Acquisitions Kansas Midwest Multifamily Northmarq

Northmarq Arranges $35.5M Sale of Apartment Complex in Shawnee, Kansas

by Kristin Harlow November 2, 2021

SHAWNEE, KAN. — Northmarq has arranged the sale of Park 67, a 352-unit apartment complex in Shawnee, for $35.5 million. Park 67 was built in 1969 and recently underwent renovations for 30 percent of the units. The property features a pool, fitness center, playground, business center and onsite laundry facilities. Jeff Lamott and Gabe Tovar of Northmarq represented the seller, Kansas City-based Worcester Investments. Charlotte, N.C.-based Greystone Capital Holdings LLC was the buyer.

November 2, 2021

Acquisitions Indiana Industrial Midwest

Colliers Brokers Sale of Two Industrial Buildings Totaling 650,987 SF in Suburban Indianapolis

by Kristin Harlow November 2, 2021

MT. COMFORT, IND. — Colliers International has brokered the sale of Buildings 1 and 2 at Mount Comfort Commercial Park for an undisclosed price. The properties, totaling 650,987 square feet, are located on Enterprise Drive in Mt. Comfort, about 15 miles northeast of Indianapolis. Building 1 spans 260,406 square feet and features a clear height of 32 feet and 26 docks. Building 2 is a 390,581-square-foot facility with a clear height of 36 feet and 38 docks. Both buildings offer 135-foot trailer courts and were completed on a speculative basis. Alex Cantu, Jimmy Cohoat, Jason Speckman, Andrea Hopper and Alex Davenport of Colliers represented the sellers, Becknell Industrial and Cross Harbor Capital. An affiliate of EQT Exeter was the buyer.

November 2, 2021

Acquisitions Illinois Industrial Midwest

Marcus & Millichap Negotiates $10.2M Sale of Industrial Facility in Lombard, Illinois

by Kristin Harlow November 2, 2021

LOMBARD, ILL. — Marcus & Millichap has negotiated the $10.2 million sale of Oak Creek Center in Lombard, a western suburb of Chicago. The 79,462-square-foot industrial facility is located on Oak Creek Drive. Tenants include Home Depot and Kia Motors. Peter Doughty of Marcus & Millichap represented the seller, a private investor. He also secured and represented the buyer, a private investor. Frank Montalto and Dean Giannakopoulos of Marcus & Millichap Capital Corp. arranged acquisition financing on behalf of the buyer.

November 2, 2021

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