Property Type

TriGate Capital Acquires Four Office Buildings Spanning 273,554 SF in Raleigh

by Alex Tostado March 9, 2020

RALEIGH, N.C. — TriGate Capital has acquired four office buildings in Raleigh. The buildings are located at 900 Ridgefield Drive (66,271 square feet), 1616 Millbrook Road (72,553 square feet), 5565 Centerview Drive (73,503 square feet) and 1500 Sunday Drive (61,227 square feet). TriGate is planning significant renovations to the common areas and amenities at Ridgefield Drive and Centerview Drive, including lobbies, fitness centers, conference rooms and tenant lounges. TriGate has tapped Patti Autry and Dennis Hurley of JLL to market the properties. Further details of the transaction were not disclosed.

March 9, 2020

Florida Loans Multifamily ORIX Southeast

Hunt Real Estate Provides Two Refinancing Loans Totaling $8.1M for Multifamily Properties in South Florida

by Alex Tostado March 9, 2020

BELLE GLADE, FLA. — Hunt Real Estate Capital has provided two refinancing loans totaling approximately $8.1 million for Amelia Gardens and Amelia Estate in Belle Glade. Both Freddie Mac Small Balance Loans are hybrid adjustable-rate mortgages (ARMs) with a fixed interest rate for the first 10 years and then a floating interest rate for the following 10 years. Hunt Real Estate provided a $2.8 million loan for Amelia Gardens, a 12-building, 24-unit community that was built in 2003. The property offers three-bedroom floor plans. Hunt provided an additional $5.3 million for Amelia Estates, which offers 48 units and was delivered in 2016. Loan proceeds went mainly toward paying off the construction loan for Amelia Estates. The borrower, Houston Realty & Investment Co., is currently developing Amelia Circle, a multifamily development that will encompass Amelia Estates. Kristian Molloy of Hunt Real Estate originated the loan on behalf of the borrower.

March 9, 2020

Acquisitions Multifamily Texas

Matthews Brokers Sale of 396-Unit Beacon Hill Apartments in Dallas

by Taylor Williams March 9, 2020

DALLAS — Matthews Real Estate Investment Services has brokered the sale of Beacon Hill Apartments, a 396-unit multifamily community in Dallas that has since been rebranded as The Edison. Built in 1984 and remodeled in 2003, the community features one- and two-bedroom units and amenities including three pools, a racquetball court, clubroom and two laundry rooms. Pacific Team Management sold the asset to locally based investment firm WindMass Capital, which will upgrade the unit interiors, for an undisclosed price. Dan McQuaid of Matthews handled the transaction. The property was 80 percent occupied at the time of sale.

March 9, 2020

Acquisitions Multifamily Texas

SevenSeas Holdings Buys 296-Unit Terraces on the Parkway Apartments in Metro Dallas

by Taylor Williams March 9, 2020

GRAND PRAIRIE, TEXAS — SevenSeas Holdings LLC has acquired Terraces on the Parkway, a 296-unit apartment community in Grand Prairie, located roughly midway between Dallas and Fort Worth. The property offers one-, two- and three-bedroom units and amenities such as a pool, outdoor grilling stations, fitness center, dog park and a children’s play area. Dougherty Mortgage LLC arranged an undisclosed amount of Fannie Mae acquisition financing for the deal. The loan, which carried a 12-year term and a 30-year amortization schedule, was secured through a partnership with Old Capital Lending.

March 9, 2020

Loans Multifamily Texas

LMI Capital Arranges Two Commercial Loans Totaling $9M in Houston Area

by Taylor Williams March 9, 2020

HOUSTON AND PASADENA, TEXAS — LMI Capital, a Real Estate Capital Alliance (RECA) member, has arranged two commercial loans totaling $9 million in the Houston area. In the first transaction, Jamie Safier of LMI Capital placed a $2.6 million, 10-year loan for the refinancing of a 50-unit multifamily asset located in the eastern suburb of Pasadena. In the second deal, Adam Pike of LMI Capital arranged a $6.4 million acquisition loan for a 105,000-square-foot office building in west Houston. The property names and borrowers were not disclosed.

March 9, 2020

Acquisitions California Office Western

Harbor Group Acquires Office Asset in Metro Sacramento for $39.4M

by Amy Works March 9, 2020

ROSEVILLE, CALIF. — Harbor Group International (HGI) and its affiliates have purchased 630 Roseville Parkway, a single-tenant office building in Roseville, a suburb of Sacramento. An undisclosed seller sold the property for $39.4 million. Penumbra, a global healthcare company, fully occupies the 157,518-square-foot facility. The office property also includes a campus-like outdoor recreation space with an amphitheater, barbecue area and bocce ball courts. This acquisition is HGI’s fourth office investment in the California market as the firm continues to expand its footprint on the West Coast.

March 9, 2020

Development Multifamily Oklahoma Seniors Housing Texas

HarborChase Opens New Seniors Housing Community in Oklahoma City

by Taylor Williams March 9, 2020

OKLAHOMA CITY — Developer HarborChase has completed HarborChase of South Oklahoma City, an upscale seniors housing community. The property offers assisted living and memory care services, as well as respite stays. Amenities include a full-service bistro, exhibition kitchen, bar and cocktail lounge, fitness and wellness center and a fine dining restaurant. Residents have already begun moving into the building.

March 9, 2020

Acquisitions Healthcare Texas

New Era Partners Acquires 48-Bed Oceans Behavioral Hospital in Waco

by Taylor Williams March 9, 2020

WACO, TEXAS — New Era Partners, a division of Texas-based development and investment firm New Era Cos., has acquired the 48-bed Oceans Behavioral Hospital in Waco. The newly built facility provides both inpatient and outpatient mental health treatments. New Era acquired the asset as part of a portfolio of healthcare properties that includes three behavioral hospitals that are operated by Oceans Healthcare. The Plano-based provider has about 25 behavioral health facilities in Texas, Louisiana and Mississippi. The seller was not disclosed.

March 9, 2020

Acquisitions California Retail Western

Avison Young Negotiates $20M Sale of The Village at Moorpark Shopping Center in California

by Amy Works March 9, 2020

MOORPARK, CALIF. — Avison Young has arranged the sale of The Village at Moorpark, a community shopping center located at 706 W. Los Angeles Ave. in Moorpark. London Reo Retail-CA, a Delaware limited liability company, sold the asset to California-based Chesser Group for $20 million. Built in 2007 on 11.5 acres, the 129,374-square-foot property was 76.3 percent occupied at the time of sale. Current tenants include Petco, Dick’s Sporting Goods, Verizon, Bank of America and Leslie’s Pool Supply. Chris Maling and David Maling of Avison Young represented the seller and buyer in the deal.

March 9, 2020

Acquisitions Colorado Office Western

Presidio Property Trust Sells Centennial Technology Center in Colorado Springs for $15M

by Amy Works March 9, 2020

COLORADO SPRINGS, COLO. — San Diego-based Presidio Property Trust has completed the disposition of Centennial Technology Center, an office asset located at 4820 and 4920 Centennial Blvd. in Colorado Springs. Eagle, Idaho-based Alturas Capital Partners acquired the property for $15 million. Situated on 9.3 acres within the Garden of the Gods Office Park, Centennial Technology Center features 110,405 square feet of Class A office space. At the time of sale, the property was 100 percent leased with Comcast and Walter Kidde United Technologies as anchor tenants. Patrick Devereaux, James Brady and Campbell Davis of CBRE’s Denver office represented the seller in the transaction.

March 9, 2020

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