SAN ANTONIO — Dallas-based Rosewood Property Co. has refinanced Ventura Ridge, a 482-unit apartment community in San Antonio. The loan amount was not disclosed. Built in 2015 on the city’s northwest side, the property offers studio, one- and two-bedroom units with an average size of 844 square feet. Amenities include a pool, dog park, fitness center and a clubhouse. John Brownlee, John Bauman, Chad Lisbeth and Scott Cole of JLL arranged the loan through New York Life Co. on behalf of Rosewood.
MESQUITE, TEXAS — Texas-based H-E-B has acquired land in Mesquite, an eastern suburb of Dallas, for the development of a new grocery store. The multi-parcel assemblage is located at the intersection of I-20 and FM 741. Ryan Turner, David Davidson Jr. and Edward Bogel of Davidson Bogel Real Estate represented the undisclosed seller in the land deal. Ben Hines and Tim Henson of Venture Commercial represented H-E-B. Details on the size and construction timeline of the new store were not disclosed.
COPPELL, TEXAS — Allstate has signed a 53,043-square-foot office lease in Coppell, located in the northern-central part of the metroplex. The space is located within the 1,000-acre Cypress Waters mixed-use development. Ryan Buchanan of CBRE represented the insurance giant, which plans to take occupancy of its new space next June, in the lease negotiations. Billingsley Co. owns Cypress Waters.
DALLAS — Lucid Private Offices, a provider of flexible workspace solutions, has opened a 35,234-square-foot coworking space in North Dallas. The space spans the 15th and 17th floors of 80 NCX, a 290,000-square-foot building, and offers 120 private and team offices, five conference rooms and a library. Users have access to building amenities such as a café, coffee bar, lounge, patio and a fitness center. Intercontinental Real Estate owns the building.
PHILADELPHIA — JLL has brokered the sale of three self-storage facilities in the Philadelphia area. The facilities, which traded as part of a 468,266-square-foot portfolio deal that includes three other facilities in South Florida, are located at 1354 Hook Road in Sharon Hill, 3952 N. Providence Road in Newtown Square and 4440 E. Bristol Road in Trevose. A partnership between Metro Self Storage and Heitman sold the portfolio to Andover Properties, which will rebrand the facilities under its Storage King USA flag. Brian Somoza led the JLL team that brokered the deal.
SAN DIEGO — Colliers has arranged the sale of Market Street Village Apartments, a multifamily community in downtown San Diego’s East Village. A private buyer acquired the asset from Equity Residential for $82.2 million, or $359,000 per unit. Located at 699 14th St., Market Street Village Apartments offers 229 market-rate and affordable apartments with full kitchens, dishwashers, large closets, high ceilings, in-unit laundry and vinyl flooring. Onsite amenities include a fitness center, theater screening room, multiple courtyards, a sundeck with a firepit, 406 parking spaces and a clubhouse with a pool and spa. Additionally, the property offers ground-floor retail space anchored by an Albertsons supermarket with a Sav-On Pharmacy and Starbucks Coffee. Kitty Wallace and Anna Kampling of Colliers represented the buyer and seller in the deal.
FONTANA, CALIF. — EK Apartments has completed the disposition of a nine-property multifamily and retail portfolio in Fontana to undisclosed buyers for $25.5 million. The portfolio includes eight apartment buildings and a four-tenant retail center. The multifamily properties, which were constructed mostly in the 1980s, offer a total of 108 apartments with 70 percent below market rents. The 10,627-square-foot retail center is fully occupied by a mini mart, laundromat, restaurant and dessert shop. Douglas McCauley, David Covarrubias and Bruce Rajaee of Marcus & Millichap represented the seller and procured the buyers in the deal.
LOS ANGELES AND MILPITAS, CALIF. — Gantry has secured $18.9 million in permanent loans for three self-storage facilities in California. The Saf Keep-branded properties offer a total of 2,654 units, with two facilities in Los Angeles and one in Milpitas. Tom Dao and Erinn Cooke of Gantry represented the borrower, a private real estate investor. The three 10-year loans were provided by one of Gantry’s correspondent life company lenders and feature 30-year amortization schedules. The loan terms were structured with exact nonrecourse provisions, generous prepayment windows, ease of execution and competitive rates.
BILLERICA, MASS. — Marcus & Millichap has arranged the $5.7 million sale of a 40,000-square-foot industrial flex building in Billerica, a northwestern suburb of Boston. The building sits on a 2.9-acre site at 4 Federal St. and was fully leased at the time of sale to Boston Semi Equipment. Harrison Klein, Luigi Lessa and Mattias Edenkrans of Marcus & Millichap represented the seller in the transaction. Peter Kim of Berkshire Hathaway procured the buyer. Both parties requested anonymity. Miguel Encarnacion of NAI | Parsons Commercial Group was also involved in the transaction.
WESTMINSTER, COLO. — Marcus & Millichap has negotiated the sale of Residence Inn by Marriott Denver North Westminster, Colorado in Westminster, a suburb 12 miles north of Denver. Dallas-based NewcrestImage sold the extended-stay hotel to Archer Capital Group for an undisclosed price. Chris Gomes of Marcus & Millichap represented the seller. Gomes, along with Allan Miller and Christy McDougall of Marcus & Millichap, procured the buyer. Adam Lewis is Marcus & Millichap’s broker of record in Colorado. Located at 5010 W. 88th Place, the four-story Residence Inn by Marriott offers 94 extended-stay suites with kitchens, separate living areas and modern amenities.
