Property Type

GID Breaks Ground on Phase II of Regent Square Mixed-Use Project in Houston

by Taylor Williams November 5, 2019

HOUSTON — GID Development Group has broken ground on Phase II of Regent Square, a mixed-use project located at West Dallas and Dunlavy streets near Buffalo Bayou Park in Houston. Designed by Boston-based architecture firm CBT, Phase II will consist of 50,000 square feet of retail space, a 600-unit apartment building and activated community space. The retail space is expected to be available for occupancy by the first quarter of 2021, and the residential component is slated to be complete by the third quarter of 2021. Phase I of the project was completed in 2014. Arch-Con is the general contractor, and JLL is handling leasing of the retail space.

November 5, 2019

Acquisitions Multifamily Seniors Housing Texas

Covenant Living Acquires 343-Unit Continuing Care Retirement Community in Tulsa

by Taylor Williams November 5, 2019

TULSA, OKLA. — Covenant Living Communities and Services has acquired Inverness Village, a continuing care retirement community (CCRC) in Tulsa, for an undisclosed price. As part of the transition, the community will be rebranded as Covenant Living at Inverness. The community opened in 2003 and features 196 independent living apartments, 40 cottages, 20 garden homes, 31 assisted living apartments, 12 memory care units and 44 skilled nursing rooms. The property sits on 192 acres. Covenant Living also owns and operates a senior living rental independent and assisted living community in Bixby, Okla. Covenant Living at Bixby has been in operation for five years.

November 5, 2019

Loans Multifamily Texas

Arbor Provides Five Fannie Mae Loans Totaling $68.6M for Refinancing of DFW Multifamily Portfolio

by Taylor Williams November 5, 2019

DALLAS AND FORT WORTH, TEXAS — New York-based Arbor Realty Trust Inc. has provided five loans totaling $68.6 million for the refinancing of a portfolio of multifamily properties in the Dallas-Fort Worth (DFW) metroplex. The portfolio spans approximately 1,100 units. Vincent Chiodo of Arbor Realty Trust provided the loans, all of which carried 12-year terms, fixed interest rates and six years of interest-only payments, through Fannie Mae. The property names and borrowers were not disclosed.

November 5, 2019

Development Office Texas

Worth & Associates Begins Leasing 83,713 SF Office Conversion Project in San Antonio

by Taylor Williams November 5, 2019

SAN ANTONIO — Locally based developer Worth & Associates has begun leasing Austin Highway Business Center, an 83,713-square-foot office conversion project situated on 10.5 acres in northeast San Antonio. Worth acquired the property, which formerly served as a data center for Frost Bank, in spring 2018 and upgraded its entrance, lobby, break room and outdoor recreational areas. Austin Highway Business Center, which is being marketed to call center and back-office users, also includes 162 covered parking spaces.

November 5, 2019

Industrial Leasing Activity Texas

NAPCO Bag & Film Signs 81,535 SF Industrial Lease in Metro Dallas

by Taylor Williams November 5, 2019

CARROLLTON, TEXAS — NAPCO Bag & Film, a provider of bags to a variety of industries, has signed an 81,535-square-foot industrial lease at 2908 Commodore Drive in the northern Dallas suburb of Carrollton. Greg Nelson of Paladin Partners represented the tenant in the lease negotiations. Michelle Hudson and Tom Hudson of Hudson Peters Commercial represented the landlord, ML Realty Partners.

November 5, 2019

Loans Multifamily New Jersey Northeast

JLL Arranges $117.8M Refinancing of 360-Unit Everly Roseland Apartment Community in New Jersey

by Alex Patton November 5, 2019

ROSELAND, N.J. — JLL has arranged $117.8 million loan for the refinancing for Everly Roseland, a 360-unit apartment community located in Roseland, a western suburb of New York City. An international bank provided a $96.3 million senior loan while J.P. Morgan Asset Management provided a $21.5 million mezzanine loan to refinance the existing loan and complete unit renovations. The property offers a mix of one-, two- and three-bedroom floor plans with amenities including a newly constructed clubhouse, fitness center, pool and tennis court. Michael Klein and Matthew Pizzolato of JLL arranged the loan on behalf of the borrower, Novel Property Ventures.

November 5, 2019

Acquisitions Multifamily New York Northeast

Fairstead, Meadow Partners Acquire Former Tootsie Roll Factory Apartments in Brooklyn for $67.2M

by Alex Patton November 5, 2019

NEW YORK CITY — A partnership between multifamily owner-operator Fairstead and investment firm Meadow Partners has acquired The Chocolate Factory Lofts, a 125-unit apartment building in Brooklyn, for $67.25 million. The converted Tootsie Roll factory at 275 Park Ave. is situated one block from the Brooklyn Navy Yard and the new Wegmans flagship grocery story. Daniel Parker, Paul Gillen and Kyle van Buitenen of Hodges Ward Elliott represented the sellers, HK Organization and Brickman Real Estate, in the transaction.

November 5, 2019

Development Massachusetts Northeast Retail

Express Kitchens to Open Eight Stores, Showrooms Near Boston in 2020

by Alex Patton November 5, 2019

BOSTON — Kitchen remodeling firm Express Kitchens plans to significantly increase its Massachusetts footprint in 2020 by opening three new retail stores and five new showrooms in and around the Boston area. Express Kitchens will open stores in the suburbs of Lynn, Watertown, Dedham, Peabody, Reading, Medford, Brockton and Weymouth. Showrooms will display a range of kitchens, cabinets and countertops, which customers will be able to purchase for their homes in-store or from the company’s website.

November 5, 2019

Leasing Activity Massachusetts Northeast Office

Newmark Knight Frank Negotiates 14,764 SF Office Lease in Lexington, Massachusetts

by Alex Patton November 5, 2019

LEXINGTON, MASS. — Newmark Knight Frank (NKF) has negotiated a 14,764-square-foot office lease for pharmaceutical company KabaFusion in Lexington, a northwestern suburb of Boston. The company is moving its headquarters from a 3,500-square-foot space in Waltham to 80 Hayden Avenue, a 43,208-square-foot, three-story office building primarily leased to life sciences tenants. Mark Roth, Matt Malatesta, Brendan Daly and Brianna Piacitelli of NKF represented the landlord, Marwick Associates, in the lease negotiations. Jack Whelan and Michael O’Leary represented KabaFusion.

November 5, 2019

Connecticut Leasing Activity Northeast Office

Keep America Beautiful Signs 8,500 SF Office Lease Renewal in Stamford, Connecticut

by Alex Patton November 5, 2019

STAMFORD, CONN. — Recycling and sustainability organization Keep America Beautiful has signed an 8,500-square-foot office lease renewal in Stamford, located approximately 35 miles northeast of New York City. As part of the renewal agreement, the landlord agreed to pay for interior renovations, including a kitchen and restroom remodel and enhancements to the lighting and HVAC systems at the property, which serves as the organization’s headquarters. John Hannigan and Adam Cognetta of Choyce Peterson Inc. represented Keep America Beautiful in the lease negotiations. Larry Kwiat of SL Green Realty Corp. represented the landlord on an internal basis.

November 5, 2019

Newer Posts

Older Posts