SAN ANTONIO — Multifamily developer Presidium has broken ground on Presidium at Chase Hill, a 370-unit apartment project in San Antonio. The community, which will be Presidium’s first in the Alamo City, will be situated on 17 acres on the city’s northwest side. Units will feature nine-foot ceilings, stainless steel appliances, granite countertops and walk-in closets. Amenities will include multiple pools, outdoor grilling areas, a two-story fitness center, multiple Wi-Fi lounges and a rooftop terrace. REES Associates Inc. designed the community. Pape-Dawson is the project engineer, and Hitchcock Design Group is the landscape architect. Completion is slated for early- to mid-2022.
AUSTIN, TEXAS — SVN | Angelic has completed the sale of a 156,024-square-foot office building located at 1345 Philomena St. in Austin’s Mueller district. The building serves as the headquarters of the buyer, Ascension Seton, a Central Texas-based branch of the faith-based healthcare organization Ascension Health. The seller, an investment fund backed by Black Creek Group, was self-represented in the transaction. Gabriel Silverstein of SVN | Angelic handled the transaction with Ben Mingle of the Centurion Foundation on behalf of Ascension Seton, which purchased the property for an undisclosed price. Silverstein also worked with Duncan Swanston of Baltimore-based lender CGA Capital to secure $83.8 million in acquisition financing for the transaction. The acquisition allows Ascension Seton to gain long-term control of its headquarters office building and to restructure its existing lease and occupancy costs. A team of attorneys from Hall Render, Ballard Spahr, and Polsinelli, worked to restructure said lease. Ascension Health is the second-largest hospital operator in the United States with more than 2,600 facilities in 20 states and Washington, D.C.
IRVING, TEXAS — Dougherty Mortgage LLC has arranged acquisition financing for Silverton Apartments, a 256-unit community in Irving. According to apartments.com, the property was built in 1980 and features one- and two-bedroom units. Amenities include a pool, fitness center, clubhouse and outdoor grilling area. Dougherty arranged the loan, which carries as 12-year term and a 30-year amortization schedule, through a partnership with Old Capital Lending. The borrower and loan amount were not disclosed.
ARLINGTON, TEXAS — NAI Robert Lynn has negotiated a 46,800-square-foot industrial lease at 924 111th St. in Arlington. Michael Stanzel of NAI Robert Lynn represented the landlord in the lease negotiations. Lon Lloyd of Champions DFW Commercial Realty represented the tenant, logistics firm Pace Runners Inc.
SOUTHLAKE, TEXAS — Fabletics, an apparel company founded by actress Kate Hudson, and Tommy John, a provider of undergarments for men, have both signed retail leases at Southlake Town Square near Fort Worth. Fabletics will occupy 2,077 square feet, and Tommy John will occupy 1,925 square feet. Both stores, which are scheduled to open later this year, will be the first in the area for the two retailers. Southlake Town Square is a 130-acre mixed-use development that is owned and operated by a subsidiary of Retail Properties of America Inc.
SACRAMENTO — San Diego-based MG Properties Group has purchased Landing at College Square, an apartment community in Sacramento. The acquisition price was not released. Built in 2016, Landing at College Square features 270 apartments. Marc Ross of CBRE represented the undisclosed seller in the deal. MG Properties Group assumed the existing Freddie Mac loan, which Brian Eisendrath and Cameron Chalfant of CBRE coordinated.
BENSALEM, PA. — Colliers International has brokered the sale of a 211,000-square-foot retail property formerly occupied by Macy’s in Bensalem, a northeastern suburb of Philadelphia. The property is located within the Neshaminy Mall, a 1.2 million-square-foot shopping and dining destination that opened in 1968. The buyer, Sant Properties, plans to reposition the vacant box for multiple tenant spaces. The sales price was undisclosed.
CHELSEA, MASS. — Local developer Broadway Capital Inc. will convert a recently closed nursing home into a 33-unit apartment building in Chelsea, a northern suburb of Boston. Located at 932 Broadway, the property was previously called Chelsea Skilled Nursing & Rehabilitation and offered 82 beds and skilled nursing services. Six of the units in the new apartment building will be reserved for renters earning 80 percent or less of the area median income. Broadway is investing $5 million in the repositioning and will also utilize a portion of the building for its new headquarters. Construction is slated for completion in November.
NEW YORK CITY — Newmark Night Frank (NKF) has arranged a $20 million acquisition loan for the Shops at Richmond Avenue, a 76,000-square-foot retail property on Staten Island. Bridge Investment Group provided the floating-rate loan to the borrower, Infinity Real Estate. The property consists of two buildings that are leased to tenants including Dick’s Sporting Goods, Staples, Men’s Warehouse, Starbucks and Bank of America. Dustin Stolly, Jordan Roeschlaub and Chris Kramer of NKF arranged the loan.
NEW YORK CITY — Health & Hospitals Corp. (HHC) has signed a 21,643-square-foot office lease in the Tremont neighborhood of The Bronx. The space is located at 1910 Webster Ave. in the Tremont Renaissance residential and commercial building, which features 256 apartments and 40,000 square feet of commercial space, 15,000 of which is leased to a supermarket. The lease term is 15 years. The healthcare center will offer pediatric, primary, urgent and elder care services. Michael Dubin and Hector Rodriguez of Savitt Partners LLC represented HHC in the lease negotiations. Kathy Zamechansky of KZA Realty Group represented the property developer and owner, Mastermind Ltd.