Property Type

CONTI Organization Acquires 420-Unit Vine Apartments in Arlington

by Taylor Williams September 4, 2020

ARLINGTON, TEXAS — Dallas-based CONTI Organization has acquired Vine Apartments, a 420-unit community located at 711 Trinity Circle in Arlington. Built on 21 acres in 1980, the garden-style property consists of 23 three-story buildings housing one- and two-bedroom units. Amenities include a pool, fitness center, dog park, volleyball court and tennis courts. Daniel Baker and Chandler Sims of CBRE represented the undisclosed seller in the transaction. Including this transaction, CONTI’s portfolio consists of 31 multifamily properties totaling more than 9,000 units.

September 4, 2020

Acquisitions Multifamily Texas

Berkadia Brokers Sale of 150-Unit Scott Plaza Apartments in South Houston

by Taylor Williams September 4, 2020

HOUSTON — Berkadia has brokered the sale of Scott Plaza, a 150-unit apartment community located in the Sunnyside neighborhood in south Houston. The property was built in 1970 and features an average unit size of 858 square feet. Scott Bray, Ryan Epstein and Jennifer Ray of Berkadia represented the seller, Scott Plaza Associates Ltd., in the transaction. LEDG Capital, an investment firm with five offices across the country, purchased the asset for an undisclosed price.

September 4, 2020

Development Healthcare Texas

NexCore Group Breaks Ground on 110,374 SF Medical Office Building in Metro Houston

by Taylor Williams September 4, 2020

CYPRESS, TEXAS — Denver-based developer NexCore Group has broken ground on North Cypress Physician Office Building III, a 110,374-square-foot medical office building in the northwestern Houston suburb of Cypress. The four-story property will be located at 10425 Huffmeister Road on the HCA Houston Healthcare North Cypress campus. The facility is expected to open to the public in approximately one year.

September 4, 2020

Acquisitions Multifamily Seniors Housing Texas

Heavenrich & Co. Arranges $5.3M Sale of Skilled Nursing Facility in Northwest Houston

by Taylor Williams September 4, 2020

HOUSTON — Heavenrich & Co. has negotiated the $5.3 million sale of Villa Toscana at Cypress Woods, a 120-bed skilled nursing facility in northwest Houston. Villa Toscana was built in 2009 on an 80-acre medical campus, anchored by the Kelsey-Seybold Clinic. Heavenrich & Co. represented the sellers, national owner-operator StoneGate Senior Living and an unnamed, publicly traded REIT. The buyer was O&M Investments, a private equity firm focused on skilled nursing. Villa Toscana’s occupancy was 76 percent at the time of sale.

September 4, 2020

Loans Multifamily Northeast Pennsylvania

JLL Provides Loan for Refinancing of Two Multifamily Assets Totaling 235 Units in Philadelphia

by Taylor Williams September 4, 2020

PHILADELPHIA — JLL has provided a Freddie Mac loan of an undisclosed amount for the refinancing of Yardley Crossing and RiverQuick Apartments, two adjacent multifamily assets totaling 235 units in Philadelphia. Yardley Crossing consists of 196 units in one-, two- and three-bedroom floor plans. RiverQuick Apartments totals 39 units in one- and two-bedroom formats. Ryan Ade, Jamie Leachman and Travis Hess of JLL arranged the 10-year, fixed-rate loan on behalf of the borrower, Relative Properties LLC.

September 4, 2020

Acquisitions Civic Northeast Pennsylvania

Black Bear Sports Acquires Grundy Ice Arena in Bristol, Pennsylvania

by Taylor Williams September 4, 2020

BRISTOL, PA. — Black Bear Sports Group, an owner of 18 sports facilities around the country, has acquired the Grundy Ice Arena in Bristol, about 20 miles north of Philadelphia. The arena, which frequently hosts youth hockey camps and tournaments throughout the year, features two ice sheets, an athletic training gym, café and a pro shop.

September 4, 2020

Company News New Jersey Northeast Retail

AMC to Reopen All 27 New Jersey Theaters Over Next Week

by Taylor Williams September 4, 2020

NEW JERSEY — AMC Theatres (NYSE: AMC) will open all 27 of its theaters in New Jersey over the course of the next week, beginning with the reopening of AMC Jersey Gardens 20 and AMC Wayne 14 this Friday. An additional seven locations are scheduled to open on Monday, Sept. 7, with all remaining theaters then opening on Thursday, Sept. 10. New Jersey is AMC Theatres’ sixth-largest market by screen count.

September 4, 2020

Development Hospitality New Hampshire Northeast

AAM 15 Management Opens 123-Room Residence Inn by Marriott Hotel in Manchester, New Hampshire

by Taylor Williams September 4, 2020

MANCHESTER, N.H. — AAM 15 Management has opened a Residence Inn by Marriott hotel in Manchester, located near the Massachusetts-New Hampshire border. The property features 123 suites with fully equipped kitchens and special living areas. Amenities include a fitness center, outdoor fire pit and onsite laundry facilities.

September 4, 2020

Loans Multifamily Northeast

Cornerstone Arranges $6.9M Construction Loan for Boston Apartment Project

by Taylor Williams September 4, 2020

BOSTON — Cornerstone Realty Capital has arranged $6.9 million in construction financing for a 12-unit apartment project in the Jamaica Plain neighborhood of Boston. Units will average 1,300 square feet and will feature stainless steel appliances, custom cabinetry and in-unit washers and dryers. The loan was structured with 24 months of interest-only payments and a 28-year amortization schedule.

September 4, 2020

Loans Midwest Multifamily North Dakota

NorthMarq Arranges $33.4M Acquisition Financing for 691-Unit Multifamily Portfolio in North Dakota

by Kristin Harlow September 4, 2020

GRAND FORKS, N.D. — NorthMarq has arranged $33.4 million in combined agency debt financing for the acquisition of four multifamily properties in Grand Forks, the third-largest city in North Dakota. The workforce housing properties total 691 units and include Forest Park Apartments, Valley Park Manor, Southwind Apartments and Landmark Estates. The Freddie Mac loans range from $2.9 million to $15.9 million. The 15-year loans feature 30-year amortization schedules. Brett Hood of NorthMarq’s Chicago office structured the loans.

September 4, 2020

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