Property Type

Oldham Goodwin Completes 148-Unit Affordable Seniors Housing Community in Texas City, Texas

by Taylor Williams June 30, 2021

TEXAS CITY, TEXAS — Oldham Goodwin Group LLC, a development and management firm based in Central Texas, has completed The Huntington at Lago Mar, a 148-unit affordable independent living community in Texas City, located southeast of Houston. Units feature granite countertops, vinyl flooring and individual washer and dryer connections. Communal amenities include a yoga studio, fitness center, community room, theater, pool, outdoor grill area and bocce ball and shuffleboard courts. Construction began in November 2019.

June 30, 2021

Acquisitions Industrial Texas

TRS Negotiates Sale of Three Warehouses Totaling 198,663 SF in Houston

by Taylor Williams June 30, 2021

HOUSTON — Transwestern Real Estate Services (TRS) has negotiated the sale of three warehouses totaling 198,663 square feet in Houston. The first property spans 89,000 square feet across four buildings and is located at 15800 Export Plaza. The second facility totals 59,344 square feet and is located at 11940 Brittmoore Park Drive. The third asset consists of 50,319 square feet on a 7.2-acre site at 7211 Gessner Road. Nick Peterson and John Ferruzzo of TRS represented the sellers in all three transactions. The buyers were all undisclosed.

June 30, 2021

Loans Multifamily Texas

PlattPointe Capital Arranges $32.5M Construction Loan for Fort Worth Multifamily Project

by Taylor Williams June 30, 2021

FORT WORTH, TEXAS — PlattPointe Capital LLC, a boutique capital advisory firm, has arranged a $32.5 million senior loan for the construction of a six-building, 226-unit multifamily project in Fort Worth. A local debt fund provided the financing, which was structured with an 80 percent loan-to-cost ratio. The borrower was not disclosed.

June 30, 2021

Loans Lument Multifamily Texas

Lument Provides $15.5M Agency Loan for Refinancing of Dallas Affordable Housing Property

by Taylor Williams June 30, 2021

DALLAS — Lument has provided a $15.5 million Fannie Mae loan for the refinancing of Redbird Trails Apartments, a 252-unit affordable housing property in South Dallas. The property was built in 1985 and offers one- and two-bedroom units. Approximately 20 percent of the units are reserved for renters earning 50 percent or less of the area median income (AMI), and 80 percent of the residences are reserved for renters earning 60 percent or less of AMI. Chad Musgrove of Lument originated the debt, which carried a 12-year term, fixed interest rate and a 30-year amortization schedule. The undisclosed borrower, which has owned and operated the community since 1992, will use a portion of the proceeds to fund capital improvements.

June 30, 2021

Acquisitions Kansas Midwest Multifamily

CBRE Negotiates $105M Sale of Two Multifamily Properties in Metro Kansas City

by Kristin Harlow June 30, 2021

SHAWNEE AND PRAIRIE VILLAGE, KAN. — CBRE has negotiated the sale of two multifamily properties in metro Kansas City for a combined $105 million. Jeff Stingley, Max Helgeson and Michael Spero of CBRE represented the seller in each transaction. Prairie Pines in Shawnee includes 220 rental townhome units. Hickok-Dible Co. completed the property in 2019. Two- and three-bedroom floor plans average 1,900 square feet. Amenities include a fitness center, pool and outdoor grilling areas. Kansas City-based Nolan Real Estate Services was the buyer. Kenilworth Apartments in Prairie Village includes 246 units. JC Nichols Co. originally completed the property in 1964. Amenities include an indoor and outdoor pool as well as an outdoor kitchen and grilling area. Denver-based Avanti Residential was the buyer.

June 30, 2021

Development Indiana Industrial Midwest

Opus Breaks Ground on 256,000 SF Spec Industrial Project in Suburban Indianapolis

by Kristin Harlow June 30, 2021

WHITESTOWN, IND. — The Opus Group has broken ground on a speculative industrial building at AllPoints at Anson, an industrial park in Boone County’s Whitestown, about 25 miles northwest of Indianapolis. The 256,000-square-foot building will feature a clear height of 36 feet, 26 dock doors, four drive-in doors, 219 car parking spots, 33 trailer parking spots and office space. Completion of the 16-acre project is slated for March 2022. Opus is serving as developer, design-builder, interior designer, architect and structural engineer. Luke Wessel of Cushman & Wakefield will market the new building for lease. AllPoints at Anson is a 616-acre industrial park.

June 30, 2021

Acquisitions Midwest Retail Wisconsin

Marcus & Millichap Arranges $9.6M Sale of Pick ’n Save-Occupied Property in Monroe, Wisconsin

by Kristin Harlow June 30, 2021

MONROE, WIS. — Marcus & Millichap has arranged the sale of a 61,136-square-foot property occupied by Pick ’n Save in Monroe, about 40 miles south of Madison. The net-leased asset sold for $9.6 million. Pick ’n Save recently signed a 10-year lease extension through the end of 2030. Jeff Rowlett of Marcus & Millichap represented the seller, a private investor, as well as the buyer, a REIT.

June 30, 2021

Acquisitions Illinois Industrial Midwest

Zilber Property Group Acquires 161,542 SF Industrial Building in DeKalb, Illinois

by Kristin Harlow June 30, 2021

DEKALB, ILL. — Zilber Property Group has acquired a 161,542-square-foot industrial building in Dekalb, about 65 miles west of Chicago. The purchase price was undisclosed. The Class A property is located at 711 Fairview Drive near I-88. Audiovisual and entertainment company Solotech and third-party logistics firm B&C Logistics fully occupy the building. Constructed in 2001, the facility features a clear height of 28 feet, 20 dock positions, four drive-in doors, 167 car parking spaces and onsite trailer parking. Dominic Carbonari, Frank Griffin, Kate Coxworth and Ed Halaburt of JLL represented the seller, SparrowHawk Real Estate. Rachel Agba represented Zilber on an internal basis.

June 30, 2021

Acquisitions Midwest Office Ohio

Reichle Klein Group Brokers $1.7M Sale of Office Building in Toledo, Ohio

by Kristin Harlow June 30, 2021

TOLEDO, OHIO — Reichle Klein Group has brokered the sale of a 20,824-square-foot office building in Toledo for $1.7 million. The property is located at 4352 W. Sylvania Ave. near Franklin Park Mall. The renovated, freestanding building sits on 1.5 acres. Ryan Miller of Reichle Klein represented the buyer, Ohio-based SBB Rouge LLC. Jason Westendorf of Reichle Klein represented the seller, Michigan-based 4352 WSA LLC.

June 30, 2021

Development Healthcare Life Sciences Massachusetts Northeast Office

DivcoWest Breaks Ground on 375,000 SF Life Sciences Building at Cambridge Crossing

by Taylor Williams June 30, 2021

CAMBRIDGE, MASS. — Developer DivcoWest has broken ground on a 375,000-square-foot life sciences building at 441 Morgan St. within Cambridge Crossing, a 43-acre mixed-use development located at the junction of Cambridge, Boston and Somerville. Designed by Ennead Architects and Jacobs Consultants, the building will consist of 10 floors of lab space plus two penthouse floors and five outdoor terraces. DivcoWest expects to complete construction of the shell of the building in early 2023 and to subsequently begin interior build-outs of tenant spaces.

June 30, 2021

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