HOUSTON — Locally based brokerage firm Finial Group has negotiated a 14,828-square-foot industrial lease in southeast Houston. The property at 13027 Gulf Commerce Drive totals 44,358 square feet and features exterior dock doors, drive-in doors, trailer storage and parking for over 90 vehicles. Jason Gibbons of Finial Group represented the undisclosed landlord in the lease negotiations. The tenant was National Technical Institute, a provider of vocational training services.
CYPRESS, TEXAS — Locally based brokerage firm Oxford Partners has arranged the sale of a 10,000-square-foot industrial building in the northwestern Houston suburb of Cypress. According to LoopNet Inc., the single-tenant building at 13233 N. Eldridge Parkway was completed in 2024. Jeffery Arnaud of Oxford Partners represented the buyer, Hernandez Office Supply, in the transaction. Darren O’Connor of Partners Real Estate represented the undisclosed seller.
HUNTSVILLE, ALA. — Doster Construction Co. has completed Attain at Bradford Creek, a $90 million, Class A multifamily development in Huntsville. Alexandria, Va.-based Bonaventure is the developer and property manager for the project. Located at 556 Martin Road, Attain at Bradford Creek comprises 350 one-, two- and three-bedroom apartments ranging from 839 square feet to 1,375 square feet in size. Monthly rental rates begin at $1,134, according to Apartments.com. Amenities include a resort-style pool, fitness center, clubhouse, Amazon package lockers, dog park and a pond.
RANCHO PALOS VERDES, CALIF. — The Bascom Group has acquired Highridge Apartments, a value-add multifamily property in Ranchos Palos Verdes, for $127 million, or $494,163 per unit. Built in 1972, Highridge Apartments has undergone significant upgrades and renovations over the years, including the addition of in-unit washers/dryers and enhanced amenities. The community features 257 apartments, averaging 1,157 square feet, as well as 28 loft-style units with high ceilings. Property amenities include ample parking, two pools and spas, two fitness centers, a tennis court and a clubhouse. Bascom plans to renovate unit interiors to a Class A standard and enhance amenities. Annie Rice and Jamie Kline of JLL Capital Markets arranged the debt financing for the acquisition, while AXA Investment Managers US Inc. provided the acquisition loan. Blake Rogers and Kevin Sheehan of JLL Investment Sales represented the undisclosed seller in the deal. AMC will provide property management services for the community and SD-Cap will manage planned property renovations.
RENO, NEV. — JLL Capital Markets has arranged refinancing for HERE Reno, a student housing community serving the University of Nevada, Reno. JLL represented the borrower, Article Student Living, in facilitating the three-year, floating-rate financing with PPM America Inc. Located at 920 Evans Ave., HERE Reno offers 636 beds in studio, one-, two-, three-, four- and five-bedroom, fully furnished apartments, a 24-hour fitness center, a study lounge with private rooms, hot tub and sundeck, coffee and breakfast bar, clubroom with kitchen and gaming zones and a club lounge. The asset was built in 2022.
PETALUMA, CALIF. — Brixton Capital has acquired Washington Square, a retail property in Petaluma, from El Segundo, Calif.-based Paragon Commercial Group for $67.5 million. Bryan Ley, Eric Kathrein and Warren McClean of JLL represented the seller, while Brixton was self-represented in the deal. Located at 301 S. McDowell Blvd., the eight-building property features 215,506 square feet that is more than 99 percent leased. Current tenants include Safeway, Staples, Harbor Freight Tools, Planet Fitness, Five Below and Marin Health. Originally built in 1971 and renovated in 1996, Brixton Capital plans to renovate the property with parking lot improvements, roof replacements, exterior painting, HVAC upgrades and façade enhancements. Additionally, the company plans to renovate the landscaping and update the signage to enhance curb appeal.
TORRANCE, CALIF. — Alta West Partners, Glendon Capital Management and an affiliate of A2 Capital Management have purchased 3401 Del Amo, an 83,000-square-foot flex research and development asset on 4.5 acres in Torrance, for $21.4 million. Originally built for Kubota Tractor Corp., the property offers a clear height of 28 feet, five roll-up doors, a detached loading dock, full wraparound surface parking and 2,000 amps of power. Since its construction in the 1990s, the asset has never been publicly marketed for lease. Brett Racanelli, Nathan Piehl and Jeff Morgan of Cushman & Wakefield represented the buyer and undisclosed seller in the all-cash transaction. The new owner has retained Cushman & Wakefield to handle leasing efforts for the asset.
GRESHAM, ORE. — PH Development has obtained $15.9 million in financing for Woodland Flats, a hotel-to-multifamily conversion project in Gresham. Tom Wilson, Steve Petrie and Jake Davidson of JLL Capital Markets Debt Advisory secured the two-year bridge loan through AGP Capital for the borrower. PH Development plans to convert an existing hotel, located at 2752 NE Hogan Drive, into Woodland Flats, a 120-unit multifamily property with 6,400 square feet of ground-floor retail space. The community will offer a mix of studios, one- and two-bedroom units, with rents ranging from $1,200 to $1,600 per month. Community amenities will include a swimming pool, fitness center and exterior courtyard. The project will require $6.1 million in capital improvements and is slated to take 10 months to complete.
MELBOURNE, FLA. — Carter Multifamily, a Carter Funds company, has acquired Mode at Melbourne, a 166-unit garden-style multifamily community on Florida’s Space Coast, for $37.7 million. The seller was not disclosed. Originally built in 2020, Mode at Melbourne spans approximately 218,592 rentable square feet and was 94 percent occupied at the time of sale. The complex features one-, two- and three-bedroom floorplans ranging in size from 1,219 square feet to 1,853 square feet. Amenities include a resort-style pool and sundeck, fitness center, resident clubroom, playground, electric vehicle charging stations, car care center, dog park and select units with water views. Carter Multifamily plans to renovate the property with interior and exterior upgrades, operational efficiency improvements and a revitalization of branding. Allegiant-Carter Management, the in-house property manager of Carter Funds, will oversee day-to-day operations at Mode at Melbourne.
CHICAGO — The Community Builders has completed development of Canvas at Leland Plaza, a $44 million affordable housing property in Chicago’s Lincoln Square neighborhood. The equitable transit-oriented development (ETOD) features 63 units with commercial space, outdoor seating and parking. The Chicago Housing Authority (CHA) is providing funding for 16 of the units through its project-based voucher program, representing an investment of more than $13.3 million over the next 30 years. Amenities at the property include package and bike rooms, storage space, a resident lounge and terrace. Financial partners include the City of Chicago, the CHA, CIBC, Stratford Capital Group, Benefit Chicago and ComEd. DesignBridge was the architect, and Leopardo Cos. and KMW Communities served as general contractors.