Property Type

Real Capital Solutions Sells Park Place at Fountain Hills Apartment Asset in Arizona for $63.5M

by Amy Works April 10, 2020

FOUNTAIN HILLS, ARIZ. — Louisville, Colo.-based Real Capital Solutions has completed the disposition of Park Place at Fountain Hills, a Class A multifamily property in Fountain Hills. Hong Kong-based Button Capital Limited acquired the asset for $63.5 million. Built in 2018, Park Place at Fountain Hills features 230 units; two swimming pools with lounge areas; a fitness center and separate spin room; two-story clubhouse with game room and full kitchen; business center; and package locker system. Each individual residence offers high-end finishes, including nine-foot ceilings, stainless steel appliances, wood-plank flooring, quartz countertops, full-size washers and dryers, and private balconies. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE structured the transaction for the seller. Rocco Mandala, Anthony Valenzuela and Dominique Damerell of CBRE Debt & Structured Finance arranged acquisition financing for the buyer in the transaction.

April 10, 2020

Loans Multifamily Washington Western

NorthMarq Arranges $22.5M Refinancing for Sawyer Trail Townhomes in Washington

by Amy Works April 10, 2020

FREDERICKSON, WASH. — NorthMarq has secured $22.5 million in refinancing for Sawyer Trail Townhomes, a multifamily property located at 17516 44th Ave. East in Frederickson. This is the third phase of the Sawyer Trails development, consisting of 90 townhome units. Bob Spiro and Scott Moline of NorthMarq arranged the permanent fixed-rate loan that was structured with a 10-year term on a 30-year amortization schedule. The firm secured financing for the undisclosed borrower through its in-house Fannie Mae team. According to Spiro, this is the third phase of an $80 million finance package over the last two years with Fannie Mae.

April 10, 2020

Yorba-Linda-Business-Center-Yorba-Linda-CA

Acquisitions California Industrial Western

Avison Young Negotiates Acquisition of 115,760 SF Yorba Linda Business Center

by Amy Works April 10, 2020

YORBA LINDA, CALIF. — Avison Young has arranged the purchase of Yorba Linda Business Center, a four-building industrial asset located in Yorba Linda. An Orange County-based private investor acquired the property from a Bay Area-based investment company for an undisclosed price. Built in 1998 on 9.1 acres, the 115,760-square-foot Yorba Linda Business Center features 14-foot clear heights, 66 ground-level doors and 400 car parking spaces. At the time of sale, the asset was 93 percent occupied by a diverse mix of industrial, office and flex users. Alan Pekarcik and Chris Smith of Avison Young represented the buyer, while CBRE represented the seller in transaction.

April 10, 2020

Acquisitions Colorado Multifamily Western

CBRE Brokers $12.2M Sale of Three-Property Multifamily Portfolio in Denver

by Amy Works April 10, 2020

DENVER — CBRE has negotiated the sale of a three-property multifamily portfolio located in Denver’s Cheesman Park and Congress Park neighborhoods. A local investment group purchased the portfolio from a local private investor for $12.2 million. The asset includes the 27-unit Park Lafayette at 950 Lafayette St., the 12-unit 1120 York at 1120 York St. and the 12-unit 1136 York located at 1136 York St. The buyer plans to renovate the few remaining unrenovated units and update the common areas of the 51-unit, 31,280-square-foot portfolio. Select units in Park Lafayette offer premium finishes, including quartz countertops, new cabinets, stainless steel appliances and plank flooring. The property also has a pool, lounge area with a gas firepit and barbecue grill. Robert Bratley of CBRE’s Denver office represented the seller in the deal.

April 10, 2020

Acquisitions Colorado Industrial Net Lease Office Retail Western

DCP Quebec Divests of Multi-Tenant Commercial Asset in Colorado for $4.9M

by Amy Works April 10, 2020

THORNTON, COLO. — DCP Quebec has completed the disposition of a multi-tenant, net-lease investment building located at 7315-7375 E. 128th Ave. in Thornton. YC Inc. acquired the property for $4.9 million. Built 2018 on 1.7 acres, the property features 8,573 square feet of space. At the time of sale, four tenants fully occupied the asset. Matt Call and Ian Elfner of NavPoint Real Estate Group represented the seller, while Jae Kim of RE/MAX 100 represented the buyer in the transaction.

April 10, 2020

Acquisitions Office Texas

Colliers Brokers Sale of 72,551 SF Office Building in Dallas

by Taylor Williams April 10, 2020

DALLAS — Colliers International has brokered the sale of a 72,551-square-foot office building located at 6510 Abrams Road in the White Rock submarket of Dallas. Built in 1981, the property features executive suites and has received numerous renovations over the past five years. Cody Payne and Michael Tran of Colliers represented the seller, a private investor, in the transaction. Both the seller and the buyer, also a private investor, requested anonymity.

April 10, 2020

Acquisitions Illinois Midwest Office

JLL Arranges $24.2M Sale of Two-Property Office Portfolio in Suburban Chicago

by Kristin Harlow April 10, 2020

OAKBROOK TERRACE AND LISLE, ILL. — JLL Capital Markets has arranged the sale of Two TransAm and 750 Warrenville, two Class A office buildings in suburban Chicago, for $24.2 million. Two TransAm is a five-story, 117,759-square-foot property located in Oakbrook Terrace. It is 87.7 percent leased to 18 tenants. Located in Lisle, 750 Warrenville is a four-story, 94,380-square-foot building. It is 86.7 percent leased to nine tenants. Patrick Shields, Jaime Fink, Jeffrey Bramson, Bruce Miller and Sam DiFrancesca of JLL represented the seller, American Landmark Properties Corp. The team also procured the buyer, RE Development Solutions.

April 10, 2020

Acquisitions Multifamily Texas

Marcus & Millichap Arranges Sale of 94-Site Manufactured Housing Community in Nash, Texas

by Taylor Williams April 10, 2020

NASH, TEXAS — Marcus & Millichap has arranged sale of Oakwood Mobile Home Park, a 94-site manufactured housing community in Nash, located just outside Texarkana in the northeast corner of the state. Robert Denninger of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.

April 10, 2020

Development Healthcare Texas

MedCore Partners Breaks Ground on 29,600 SF Healthcare Project in Metro Austin

by Taylor Williams April 10, 2020

CEDAR PARK, TEXAS — MedCore Partners, a Dallas-based healthcare development and brokerage firm, has broken ground on Hill Country Medical Plaza, a 29,600-square-foot medical office project in the northern Austin suburb of Cedar Park. The two-story building will be located adjacent to a 93-bed hospital and is 77 percent preleased to tenants such as Texas Digestive Disease Consultants and Hill Country Endoscopy Center. Felder Group Architects is designing the project, and IE2 Construction Inc. is the general contractor. Completion is slated for October.

April 10, 2020

Development Illinois Midwest Multifamily Seniors Housing

Holland Construction Services Underway on 149-Unit Senior Living Community Near St. Louis

by Kristin Harlow April 10, 2020

O’FALLON, ILL. — Holland Construction Services is underway on a $39 million senior living community known as Keystone Place at Richland Creek in O’Fallon, about 20 miles east of St. Louis. Upon completion, the four-story building will offer 64 independent living units, 66 assisted living units and 19 memory care units. There will also be one guest suite. The five-acre development will also feature a memory garden and a courtyard. Keystone Senior Management Services Inc. is the developer. Completion is slated for early 2021. The project is being constructed next to Parkway Lakeside Apartments, which Holland built several years ago.

April 10, 2020

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