Property Type

OHT Partners Breaks Ground on 403-Unit Lenox Lake Highlands Apartments in Dallas

by Taylor Williams July 26, 2021

DALLAS — OHT Partners LLC, an Austin-based multifamily development firm formerly known as Oden Hughes, has broken ground on Lenox Lake Highlands, a 403-unit apartment community that will be located in the Lake Highlands area of Dallas. The property will be situated within the Lake Highlands Town Center mixed-use development and will offer one-, two- and three-bedroom units ranging in size from 600 to 1,640 square feet. Amenities will include a 1,300-square-foot collaborative work studio, three pools, a 24-hour fitness center and a dog run with a washing station. Dallas-based GFF is the project architect, and Pacheco Koch is the civil engineer. Ink and Oro is handling interior design, with landscape architecture by Bud Creative. The opening is slated for mid-2022.

July 26, 2021

Arkansas Loans Multifamily Southeast

Colliers Mortgage Provides Refinancing for Two Metro Little Rock Apartment Communities

by Julia Sanders July 26, 2021

MAUMELLE, ARK. — Colliers Mortgage has provided two separate Fannie Mae Loans for the refinancing of Bay Pointe Apartments and Millwood Apartments, two multifamily communities located about 16.6 miles north of Little Rock in Maumelle. Together, the two loans totaled $2.4 million. The borrower(s) for the two refinancing transactions was not disclosed. Built in 1986, Bay Pointe Apartments includes 65 units located throughout four two-story apartment buildings, as well as a one-story residential building. Bay Pointe is located at 400 Valencia Drive and has one- or two-bedroom options. Community amenities include a business center, pool, parking and community room. Located at 200 Millwood Circle, Millwood Apartments was constructed in 1980 and includes 96 units located throughout eight two-story apartment buildings. The apartments include one-, two- and three-bedroom unit options. Community amenities include parking, a business center, community room and a pool. The Fannie Mae loan provided for Bay Pointe Apartments was a little more than $1 million and carries a 15-year term and 30-year amortization schedule. The loan provided for Millwood Apartments totaled $1.4 million. The refinancing loan carried a 15-year term and 30-year amortization schedule.

July 26, 2021

Acquisitions Multifamily Texas

SWBC Sells 248-Unit Falconhead Apartments in Austin

by Taylor Williams July 26, 2021

AUSTIN, TEXAS — Multifamily developer SWBC has sold Falconhead Apartments, a 248-unit community in the Bee Cave/Lakeway submarket of Austin. Built in 2003, the property features one-, two- and three-bedroom units and amenities such as a pool, spa, outdoor grilling areas, clubhouse, fitness center and a dog park. Kelly Witherspoon, Michael Gonzalez and Justin Cole of Berkadia represented SWBC, which purchased the property in 2019 and implemented a value-add program, in the transaction. The buyer was Texas-based investment firm Domain Communities.

July 26, 2021

Acquisitions Healthcare Texas

IRA Cos. Acquires Four Healthcare Buildings in San Antonio Totaling 55,457 SF

by Taylor Williams July 26, 2021

SAN ANTONIO — Investment firm IRA Cos. has acquired the Gastroenterology Consultants of San Antonio’s ambulatory surgery center and three of its medical office buildings in San Antonio. The properties total 55,457 square feet. All of the medical office buildings were fully leased to a single tenant at the time of sale. Alan Grilliette and Justin Brasell of Transwestern represented Gastroenterology Consultants of San Antonio as the seller in the transaction.

July 26, 2021

Loans Multifamily Oklahoma Seniors Housing Texas

Berkadia Arranges $5.6M HUD-Insured Refinancing for Skilled Nursing Facility Near Tulsa

by Taylor Williams July 26, 2021

TULSA, OKLA. — Berkadia has arranged a $5.6 million HUD-insured loan for the refinancing of a 54-unit, 111-bed skilled nursing facility in Muskogee County, located southeast of Tulsa. The property was originally constructed in 1974 and features 58 ventilator beds. Historical occupancy has averaged 75 percent. Jay Healy of Berkadia originated the loan on behalf of the undisclosed borrower through HUD’s 232/223(f) program. The name and address of the property were not disclosed.

July 26, 2021

Development New York Northeast Office

George Comfort & Sons Completes Renovation of 925,000 SF Manhattan Office Tower

by Taylor Williams July 26, 2021

NEW YORK CITY — Locally based landlord George Comfort & Sons has completed the renovation of 135 W. 50th St., a 925,000-square-foot office tower in Midtown Manhattan. Global architecture firm Gensler designed the project, which included the reimagining of the lobby and entrance, as well as the creation of a new tenant amenity center. This 20,000-square-foot space features collaborative workspaces, executive conference rooms, a game room, lounges and a bar area. George Comfort & Sons also installed wellness features such as touchless entry at main entrances, facial recognition software at security turnstiles, an upgraded air filtration system and touchless fixtures in all common area bathrooms.

July 26, 2021

Acquisitions California Office Western

Invesco Sells Five-Building Westlake Park Place Office Campus in California for $80.8M

by Amy Works July 26, 2021

WESTLAKE VILLAGE, CALIF. — Invesco Real Estate has completed the disposition of Westlake Park Place, a five-building office campus located in Westlake Village. A partnership between Amstar and Searles Property Group purchased the asset for $80.8 million. Delivered in 2008, Westlake Park Place features 239,003 rentable square feet of office space. At the time of sale, the property was 85 percent leased to a diverse mix of tenants. Kevin Shannon, Rob Hannan, Ken White and Laura Stumm of Newmark represented the seller in the deal.

July 26, 2021

Acquisitions Arizona Multifamily Western

IPA Brokers $45M Sale of Strayhorse Arrowhead Ranch Apartments in Glendale, Arizona

by Amy Works July 26, 2021

GLENDALE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Strayhorse Arrowhead Ranch, a multifamily property in Glendale. WhiteHaven Capital acquired the asset from Shelter Asset Management for $45 million, or $330,882 per unit. Built in 1998, Strayhorse Arrowhead Ranch features 136 apartments with full-size washers/dryers, soaking tubs, walk-in closets and oversized patios or balconies. The community also offers a resort-style swimming pool and spa. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the transaction.

July 26, 2021

Acquisitions Retail Washington Western

Transnational Management Buys Hazel Dell Towne Center Retail Asset in Vancouver, Washington for $28.8M

by Amy Works July 26, 2021

VANCOUVER, WASH. — CBRE has arranged the sale of Hazel Dell Towne Center, a 264,000-square-foot retail power center located at 8801 N.E. Hazel Dell Ave. Transnational Management acquired the property from a partnership managed by Pine Tree for $28.8 million. Built between 2005 and 2007 on 23 acres, Hazel Dell Towne Center is occupied by 21 local and national retailers. At the time of sale, the property was 87 percent leased. Tenants include Kohl’s, Office Depot, Petco, Party City, Gold’s Gym, Craft Warehouse, America’s Best and Massage Envy. Philip Voorhees, Jimmy Slusher and James Tyrrell of CBRE’s National Retail Partners (West), along with Dino Christophilis and Daniel Tibeau of CBRE’s National Retail Partners (Northwest), represented the seller in the deal.

July 26, 2021

Acquisitions California Industrial Western

Colliers Negotiates Sale of 102,516 SF Logistics Building in Rancho Cucamonga, California

by Amy Works July 26, 2021

RANCHO CUCAMONGA, CALIF. — Colliers has arranged the sale of a distribution building located at 9180 Center Ave. in Rancho Cucamonga. A fund managed by Black Creek Group, which was acquired by a subsidiary of Ares Management in July, purchased the property from Woomer Reverse for $24.5 million. The 102,516-square-foot building features an ESFR sprinkler system, 30-foot clear heights, two suites and a large concrete truck court. The building was constructed is 2004. Clyde Stauff and Jace Gan of Colliers represented the seller and buyer in the deal.

July 26, 2021

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