Property Type

IPA Negotiates Sale of 321-Unit Alexan Henderson Apartments in Dallas

by Taylor Williams June 17, 2021

DALLAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Alexan Henderson, a 321-unit apartment community in the Knox-Henderson area of Dallas. The property was built in 2017 and offers amenities such as a resort-style pool, rooftop lounge, coworking space and a dog park with two pet spas. Drew Kile, Joey Tumminello, Will Balthrope, Taylor Hill, Michael Ware and Grant Raymond of IPA represented the seller, Trammell Crow Residential, in the transaction. The team also procured the buyer, Nuveen Real Estate.

June 17, 2021

Acquisitions Multifamily Oklahoma Texas

HLC Equity Acquires High Meadows Apartments in Durant, Oklahoma, for $21M

by Taylor Williams June 17, 2021

DURANT, OKLA. — HLC Equity, a national investment and management firm, has acquired High Meadows, a 208-unit apartment complex in Durant, located near the Texas-Oklahoma border. The property, which was built in 2007, fetched a sales price of $21 million. High Meadows offers one-, two- and three-bedroom units, according to Apartments.com. Amenities include a pool, fitness center, community clubhouse, playground, basketball court, dog parks and large communal outdoor areas. The seller was not disclosed.

June 17, 2021

Acquisitions Industrial Texas

Levey Group Sells 65,000 SF Industrial Building in Northwest Houston

by Taylor Williams June 17, 2021

HOUSTON — Locally based investment firm Levey Group has sold Northwest Place Industrial Park II, a 65,000-square-foot industrial building in northwest Houston. The sale included 6.5 acres of undeveloped land on the site. The buyer, Alco Designs, a California-based manufacturer of retail merchandise displays, will occupy the vacant portion of the facility. The other tenant, Tytan International, a nationwide supplier of industrial and agricultural products, currently occupies 28,500 square feet.

June 17, 2021

Florida Loans Multifamily Southeast

Berkadia Secures $58.7M Refinancing for Advenir at San Tropez Apartments in South Florida

by Julia Sanders June 17, 2021

PEMBROKE PINES, FLA. — Berkadia has secured the $58.7 million refinancing for Advenir at San Tropez, a 480-unit apartment community in Pembroke Pines. Charles Foschini and Christopher Apone of Berkadia originated the Freddie Mac loan on behalf of the borrower, an entity doing business as Advenir at San Tropez LLC. The fixed-rate, seven-year loan was structured with a partial interest-only payment period and a 70 percent loan-to-value ratio. Advenir at San Tropez is located at 7840 NW 3rd St. and was built in 1975. The property has one- and two-bedroom units that range from 625 to 850 square feet. Community amenities include laundry facilities, barbecue and picnic areas and three swimming pools. The apartment community is situated near the Boulevard Heights neighborhood of Pembroke Pines, and adjacent to the property is both the North Perry Airport and Broward College-South Campus. The apartment complex is also 4.8 miles from the Seminole Hard Rock Hotel & Casino and 15 miles from Fort Lauderdale–Hollywood International Airport.

June 17, 2021

Affordable Housing Development Georgia Multifamily Southeast

Wendover Housing Partners to Open $28M Hartland Station Affordable Housing Project in Atlanta

by Julia Sanders June 17, 2021

ATLANTA — Wendover Housing Partners LLC will open in August 2021 Hartland Station, a new mixed-income affordable housing community in Atlanta. Located at 2074 Fleet St. SW in the city’s Sylvan Hills neighborhood, Hartland Station is situated four miles south of downtown Atlanta and 6.8 miles from Hartsfield-Jackson Atlanta International Airport. The community features 131 one-, two- and three-bedroom units with rents starting at $888 a month. Community amenities include a business center, fitness center, activity room with kitchen, splash pad and a playground for children. The $28 million project was financed in part by nearly $1 million in Low Income Housing Tax Credit (LIHTC) equity from the Georgia Department of Community Affairs, and Invest Atlanta provided $1.5 million in Housing Opportunity Bonds. Funding was also provided from $18.8 million in tax-exempt bonds and $1.3 million in grant funding from the Metropolitan Parkway Tax Allocation Bond District. Slocum Platts Architects provided design services for the project, and Roger B. Kennedy Construction was the general contractor. Based in Altamonte Springs, Fla., Wendover Housing Partners is a privately held real estate development, investment and management company that specializes in the development of single-family and multifamily homes, apartment communities, seniors housing and transit-oriented …

June 17, 2021

Acquisitions Florida Retail Southeast

JLL Brokers $14.4M Sale of New Sprouts-Leased Property in Estero, Florida

by Julia Sanders June 17, 2021

ESTERO, FLA. — JLL Capital Markets has brokered the $14.4 million sale of a freestanding, single-tenant grocery store in Estero leased to Sprouts Farmers Market. Michael Brewster, Brad Peterson and Tommy Isola of JLL represented the seller, Brentwood, Tenn.-based developer GBT Realty, in the transaction. An undisclosed private investor purchased the property. The Sprouts store is located at 19990 S. Tamiami Trail in metro Fort Myers. The property is adjacent to a Walmart and is located close to a Texas Roadhouse, 9 Thai-Sushi and an Aldi. The 29,896-square-foot store is 14 miles from Fort Myers. Sprouts opened the Estero location in 2020.

June 17, 2021

Acquisitions Retail South Carolina Southeast

SRS Arranges $7.6M Sale of Hobby Lobby-Anchored Shopping Center in North Charleston

by Julia Sanders June 17, 2021

NORTH CHARLESTON, S.C. — SRS Real Estate Partners has arranged the $7.6 million sale of a two-tenant, 65,000-square-foot retail property located at 7800 Rivers Ave. in North Charleston. The fully occupied property includes a 55,000-square-foot Hobby Lobby store and a 10,000-square-foot Boot Barn store. Matthew Mousavi, Patrick Luther, Britt Raymond and Kyle Fant of SRS represented the seller, an active developer in the Southeast. SRS also handled the financing on behalf of the buyer, a New Jersey-based private investor who was in a 1031 exchange. Built in 1987 and renovated in 2016, the property is situated on six acres and is an anchor to a larger shopping center that includes Gander Outdoors, Party City and Ollie’s Bargain Market. The retail property is also across the street from Northwoods Mall, a super-regional mall that features more than 130 stores. The property is 8.2 miles from Charleston International Airport and 15 miles from downtown Historic Charleston.

June 17, 2021

Loans New Jersey Northeast Office

New York Life Provides $100M Acquisition Loan for Two Office Buildings in Warren, New Jersey

by Taylor Williams June 17, 2021

WARREN, N.J. — New York Life Real Estate Investors has provided a $100 million acquisition loan for two office buildings totaling 315,086 square feet that are located within the 176-acre Warren Corporate Center office campus in Warren, about 35 miles west of New York City. Both four-story buildings, which are situated on a combined 68 acres, recently underwent capital improvement programs. The loan carried a five-year term and a fixed interest rate. Lucas Borges, Michael Johnson and Matthew Pizzolato of JLL placed the debt on behalf of the borrower, a partnership between Miami-based Exan Capital and Mirabaud Group, an international banking group based in Geneva, Switzerland. Jaime Fink, Kevin O’Hearn and Jose Cruz of JLL represented the seller, a joint venture between affiliates of Rubenstein Partners LP and Vision Real Estate Partners, in the disposition of the two buildings. Warren Corporate Center serves as the headquarters campus of Everest Reinsurance Co. and features amenities such as a fitness center, full-service cafeteria, basketball court and a conference area.

June 17, 2021

Industrial Loans New Jersey Northeast

Cushman & Wakefield Arranges $42.6M Construction Loan for New Jersey Industrial Project

by Taylor Williams June 17, 2021

LOGAN TOWNSHIP, N.J. — Cushman & Wakefield has arranged a $42.6 million construction loan for the second phase of Logan North Industrial Park, a 3.2 million-square-foot development in the Southern New Jersey community of Logan Township. The funds will finance construction of Buildings A and F, which will measure 164,112 and 326,937 square feet, respectively. John Alascio, Chuck Kohaut and T.J. Sullivan of Cushman & Wakefield placed the debt through Wells Fargo on behalf of the borrower, a partnership between Advance Realty Investors and Greek Development. The first phase of the 415-acre project spanned 1.6 million square feet

June 17, 2021

Development Multifamily New York Northeast Seniors Housing

E.W. Howell Completes 90-Unit Seniors Housing Community on Long Island

by Taylor Williams June 17, 2021

HUNTINGTON STATION, N.Y. — E.W. Howell Construction Group has completed Sunrise of Huntington, a 90-unit seniors housing community on Long Island. The 108-bed property offers assisted living and memory care services. Units come in studio, one- and two-bedroom formats. Amenities include a wellness center, activity room and a salon. The property is the 11th on Long Island for owner-operator Sunrise Senior Living.

June 17, 2021

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