Property Type

Disney-Grand-Californian-Hotel-Spa-Anaheim-CA

Disneyland to Reopen California Amusement Parks on April 30

by Amy Works April 12, 2021

ANAHEIM, CALIF. — Disneyland Resort will reopen its theme parks Disneyland Park and Disney California Adventure Park on April 30, with limited capacity and more than 10,000 cast members. Additionally, Disney’s Grand Californian Hotel & Spa will welcome guests starting on April 29, as part of Hotels of the Disneyland Resort’s phased reopening. To comply with government requirements and promote physical distancing, various new measures are in place at the park, with the Disneyland Resort managing attendance through a new theme park reservation system that requires all guests to obtain a reservation for park entry in advance. Theme park reservations will be limited and subject to availability, and until further notice, only California residents may visit the parks. Groups must be no larger than three households, in line with current state guidelines. Disneyland’s phased reopening includes: Downtown Disney District – currently open Disney’s Grand California Hotel & Spa — April 29 Disneyland Park and Disney California Adventure Park — April 30 Disneyland Hotel and Disney’s Paradise Pier Hotel — to be determined Disneyland Resort will reopen and operate updated sanitization and distancing protocols, including enhanced cleaning and housekeeping modifications, plus operational changes for physical distancing and reduced contact. Guests planning …

April 12, 2021

California Loans Office Western

Ready Capital Closes $23.8M in Refinancing for Office Building in Los Angeles’ Studio/Universal Cities Submarket

by Amy Works April 12, 2021

LOS ANGELES — Ready Capital has closed $23.8 million in refinancing for the renovation and lease-up of an office property located in the Studio/Universal Cities submarket of Los Angeles. The undisclosed borrower will use the loan to refinance an existing loan, build out speculative suites, fund capital improvements and lease the vacant space at the 75,000-square-foot, Class B property. The non-recourse, interest-only, floating-rate loan features a 36-month term, two extension options, flexible prepayment and is inclusive of a facility to provide additional funding for capital improvements, tenant leasing costs and interest shortfalls.

April 12, 2021

Acquisitions Florida Retail Southeast

Marcus & Millichap Arranges $11.3M Sale of Miami Beach Property Leased to 7-Eleven

by Julia Sanders April 12, 2021

MIAMI BEACH, FLA. — Marcus & Millichap has arranged the $11.3 million sale of a 4,370-square-foot retail property leased to 7-Eleven in Miami Beach. Alejandro D’Alba and Scott Sandelin of Marcus & Millichap marketed the property on behalf of the seller, an individual/personal trust known as Armando’s Service Station, Inc. (dba 7/11 Store). The buyer was Power Petroleum Inc, a fuel supplier based in South Florida that distributes multiple brands. The 7-Eleven convenience store is located on 6348 Collins Ave. and has been operating at this location since 2009. The property has a parking lot size of 20,740 square feet.

April 12, 2021

Company News Industrial Texas

TexAmericas Center Completes Remediation of 6,800 Acres in Texarkana, Texas

by Taylor Williams April 12, 2021

TEXARKANA, TEXAS — TexAmericas Center (TAC) has completed the remediation of 6,800 acres in Texarkana, located near the Texas-Arkansas border, to meet standards for commercial and industrial development. Last week, the Texas Commission on Environmental Quality removed the U.S. Army’s Resource Conservation and Recovery Act (RCRA) permit from the property, thus opening up the acreage for development. The land is a portion of the former Lone Star Army Ammunition plant. Remediation efforts began in 2010, and in recent years, TAC and its partners have invested more than $40 million in remediation activities and improved infrastructure to advance job and capital creation in the region. TAC is an owner-operator of one of the country’s largest industrial parks, with roughly 12,000 development-ready acres and 3.5 million square feet of commercial and industrial product serving four states.

April 12, 2021

Development Multifamily Texas

Signorelli Underway on 269-Unit Gregory Apartments in Metro Houston

by Taylor Williams April 12, 2021

PORTER, TEXAS — Locally based developer The Signorelli Co. is underway on construction of The Gregory Apartments, a 269-unit multifamily community that will be located within the Valley Ranch master-planned community in the northeastern Houston suburb of Porter. The property will feature one- and two-bedroom units averaging 900 square feet. Amenities will include a pool, fitness center, social lounge areas, a business center and direct access to several acres of open green space. The first units are expected to be available for occupancy later this year. Information on starting rents was not disclosed.

April 12, 2021

Affordable Housing Development Georgia Loans Multifamily Southeast

Berkadia Secures $11M Fannie Mae Financing for Intrada Westside Affordable Housing Project in Atlanta

by Julia Sanders April 12, 2021

ATLANTA — Berkadia has secured $11 million in financing for the development of Intrada Westside, a 143-unit affordable housing property in Atlanta. Carolyn Whatley, Lloyd Griffin and Frank Brown of Berkadia secured financing on behalf of the developer, Missouri-based Vecino Group. The $11 million forward commitment for permanent financing through Fannie Mae’s MTEB Program features a 15-year term with a 35-year amortization schedule. The property is planned to be constructed over a period of 18 months. Located in Grove Park, the Intrada Westside site offers access to Donald Lee Hollowell Parkway Northwest, which connects the primary area to downtown Atlanta. Amenities will include a leasing center that includes spaces for a fitness and business center, as well as a central laundry room, elevators, a playground, picnic and outdoor seating areas. The development also has 9,000 square feet of retail space. Intrada Westside’s site is in a Qualified Census Tract, Opportunity Zone and the Hollowell Tax Allocation District. The affordable restrictions will accommodate families who earn 50, 60 and 80 percent of area median income (AMI) and 25 units will receive project-based rent subsidy designated for homeless youth between the ages of 18 and 24. Vecino Group helped bring together the …

April 12, 2021

Acquisitions Industrial Texas

DWG Capital Partners Acquires Texas Industrial Property in Sale-Leaseback Transaction

by Taylor Williams April 12, 2021

COLUMBUS, TEXAS — DWG Capital Partners, a Los Angeles-based investment and advisory firm led by Judd Dunning, has acquired 1317 Business Highway 71 N. in Columbus, a light industrial facility located west of Houston. The 35,835-square-foot property was acquired from The Theut Co., a commercial glazing company and a division of Denver Glass Interiors, in a sale-leaseback transaction. Bryan Huber and Michael Soleimani of SAB Capital represented the tenant in the 17-year, absolute triple-net sale-leaseback transaction. Washington Federal Bank provided acquisition financing for the venture.

April 12, 2021

Development Florida Healthcare Southeast

Partnership to Develop 87-Acre Healthcare Campus in Panama City Beach, Florida

by Julia Sanders April 12, 2021

PANAMA CITY BEACH, FLA. — The St. Joe Co., Tallahassee Memorial HealthCare Inc. (TMH) and Florida State University College of Medicine have partnered to develop a healthcare campus in Panama City Beach. The campus’ planned location is on an 87-acre parcel near the intersection of State Highway 79 and Phillip Griffitts Sr. Parkway. The property is planned to be close to the Latitude Margaritaville Watersound community, a 55-and-older community that is planned for 3,500 homes. Future development plans of the healthcare campus include the construction of an emergency center and 100-bed inpatient facility offering services such as gastroenterology, urology, gynecology, cardiology and general surgery, among others. The parties intend to create a local fiduciary governance structure for the planned campus. TMH currently serves 17 counties in Florida and Georgia. This would be its first facility in Bay County. The parties intend to break ground on the project as early as 2022.

April 12, 2021

Affordable Housing Development Multifamily Texas

Housing Trust Group to Develop $22M Mixed-Income Community in Fort Worth

by Taylor Williams April 12, 2021

FORT WORTH, TEXAS — Florida-based Housing Trust Group (HTG) will develop Park Tower, a 90-unit mixed-income community in Fort Worth that is valued at $22 million. HTG is developing the property in partnership with the Texas Department of Housing & Community Affairs. The property’s 78 income-restricted units will be reserved for households earning less than 30, 50, and 60 percent of the area median income (AMI), while the other 12 units will be rented at market rental rates. Residences will features one-, two- and three-bedroom floor plans and will be furnished with quartz countertops, wood-style flooring and washer and dryer connections. Communal amenities will include a clubhouse/community room, business center/computer lab, fitness center, a courtyard and onsite laundry facilities. The design team includes San Antonio-based Overland Partners Architecture and Urban Design. Construction is scheduled to begin in February 2022 and to be complete by late 2023. Monthly rents at Park Tower will range from $400 to $2,000.

April 12, 2021

Acquisitions Industrial Maryland Southeast

Cushman & Wakefield Arranges $7.7M Sale of Industrial Building in Frederick, Maryland

by Julia Sanders April 12, 2021

FREDERICK, MD. — Cushman & Wakefield has arranged the $7.7 million sale of a 75,400-square-foot industrial building located at 7495 New Horizon Way in Frederick. The facility is situated within Frederick Corporate Park. Scott Matthew, Peter Rosan, Megan Williams and Frank Andrews of Cushman & Wakefield represented the seller, Finmarc Management Inc, while CBRE represented the buyer, Valogic, in the transaction. Frederick Corporate Park was acquired by Finmarc Management in 2020 and is home to nine office/flex buildings and one multi-story office building totaling about 350,000 square feet.

April 12, 2021

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