DENTON AND FORT WORTH, TEXAS — Newmark has brokered the sale of Attiva Denton and Attiva Park, two seniors housing properties totaling 402 units in North Texas. The first property totals 240 units and is located in Denton, and the second property comprises 162 units and is located on the southern side of Fort Worth. Ryan Maconachy and Chad Lavender of Newmark represented the seller, Atlanta-based multifamily development and investment firm Cortland, in the transaction. The buyer(s) was not disclosed.
ST. PETERSBURG, FLA. — Franklin Street has negotiated the sale of Osprey Pointe Apartments, a 517-unit, garden-style multifamily community in St. Petersburg. The property sold for $56 million, or $108,317 per unit. Darron Kattan, Zach Ames, Avery Jordan and Mark Savarese of Franklin Street brokered the off-market transaction between the seller, Des Moines, Iowa-based BH Equities, and the buyer, New York-based Axonic Properties LLC. Osprey Pointe offers one-and two-bedroom units ranging from 625 to 1,058 square feet. Community amenities include onsite professional management and maintenance, a tennis court, fenced playground area, dog park and a swimming pool and sundeck. Located at 1900 55th Ave. South, the community is situated in south St. Petersburg, and is close to Interstate 275 and U.S. Highway 19. The apartment complex is 5 miles from downtown St. Petersburg, 7.5 miles from St. Pete Beach and 28 miles from Tampa. Axonic Properties, managed by Jonathan Shechtman and Brian Kennedy, is a private equity owner, operator and asset manager of residential properties, focused on acquiring assets throughout Florida. The owner plans to make significant improvements to Osprey Pointe, which was built in 1974. Axonic Properties also currently owns and operates the adjacent 240-unit apartment community known as …
DALLAS — The Federal Deposit Insurance Corp. (FDIC) has signed a 163,000-square-foot office lease at Plaza of the Americas, a mixed-use development in the Dallas Arts District that consists of two 25-story towers, a Marriott-branded hotel and 20 retail and restaurant outlets. Keith Lavey, Victoria Abbasi, Charles Dilks, Matt Johnston, Kurt Stout, Connor Faught, Travis Ewert and Mary Stoner with Colliers International represented the tenant in the lease negotiations. Kim Brooks, Justin Miller, Paul Wittorf and Laney Underwood of Transwestern represented the landlord, a partnership between M-M Properties Inc and a fund managed by New York-based Clarion Partners.
WEBSTER, TEXAS — JLL has negotiated the sale of Galaxy II, a 106,168-square-foot office building in Webster, located southeast of Houston. Built in 2009, the five-story complex was fully leased at the time of sale to tenants including United Fire Group, IBI Group and APNetwork. Marty Hogan and Rick Goings of JLL represented the seller, an entity doing business as Houston-MDL LLC, and procured the buyer, an investment group led by TRC Capital Partners LLC. James Brolan of JLL arranged a five-year, fixed-rate acquisition loan through Independent Financial on behalf of the new ownership.
NORMAN, OKLA. — Colliers Mortgage has provided a $10.5 million Fannie Mae loan for the refinancing of a portfolio of market-rate multifamily properties totaling 314 units in Norman. The portfolio consists of five properties — Huntington Creek Apartments, Winshire Square Apartments, Willowbrook Apartments, Saratoga Springs and Sycamore Cottages — all of which are located within 15 miles of downtown Oklahoma City. Colliers originated the seven-year loan on behalf of the borrower, an entity doing business as Teelco Parent LLC.
NEW YORK CITY — Aeroterm, a provider of facility-related services to airports throughout North America, has signed a ground lease at JFK International Airport in Queens with plans to open a $145 million cargo handling facility. The project is expected to create about 350 new jobs. Aeroterm will develop the 26-acre facility in partnership with the Port Authority of New York and New Jersey and Worldwide Flight Services, the main cargo handler at JFK, as part of New York Gov. Andrew Cuomo’s JFK Vision Plan to redevelop the airport. Demolition of the existing facilities on the site is scheduled to begin in September, with project completion slated for the end of 2023.
NEWARK, N.J. — Greystone has arranged a $94 million construction loan for a 403-unit multifamily project that will be located at 55 Union St. in downtown Newark. The project will include 3,000 square feet of retail space and a 196-space parking garage. The amenity package will consist of a rooftop garden and entertainment area, an outdoor courtyard with grills, fire pits and lounge space and a fitness center. Drew Fletcher, Matthew Hirsch and Steven Deck of Greystone placed the debt on behalf of the developer, J&L Cos. Inc. A four-bank syndicate led by Valley National Bank and including Bank Hapoalim, Abanca USA and TriState Capital Bank provided the loan.
MIAMI — Wharton Equity Partners and Cross Lake Partners LP have sold a 92,972-square-foot development site located at 16 SE 2nd St. in downtown Miami. Colliers International’s Urban Core Division facilitated the $46 million sale of the full city block, known as Miami Center. The property is currently home to a parking lot. Mika Mattingly of Colliers and Robert Given of Cushman & Wakefield represented Wharton Equity Partners and Cross Lake Partners in the sale. Estrella Perez with EP Realty Group Inc. represented the buyer, a South American family office known as Enrique Manhard. The zoning designation for the property allows several uses, including residential, hotel, office and retail totaling 2 million square feet. The maximum height permitted at the site is 80 stories with unlimited height available through public benefit bonuses.
TAMPA, FLA. — Cushman & Wakefield has arranged the $43 million sale of Preserve VII, a 115,000-square-foot, Class A office building located at 18216 Crane Nest Drive in Tampa. Situated within a corporate office park called Highwoods Preserve, the four-story building is 100 percent leased to MetLife Corp., whose lease runs through October 2031. The building includes large windows and structured parking with a parking ratio of 4.5 per 1,000 square feet. Mike Davis, Rick Brugge, Rick Colon, Dominic Montazemi, Zachary Eicholtz, Ryan Jenkins and Robert Elms of Cushman & Wakefield represented the seller, Highwoods Properties Inc., in the transaction. New York City-based Sentinel Real Estate Corp. acquired the property.
NEW YORK CITY — Scale Lending, an affiliate of Slate Property Group, has provided a $63 million construction loan for 322 Grand Concourse, a 151-unit multifamily project that will be located in the Mott Haven area of The Bronx. Thirty percent (45) of the units in the 14-story building will be earmarked as affordable housing. Construction is expected to take about two years to complete.