Property Type

StreetLights Residential Breaks Ground on 358-Unit Multifamily Project in Frisco

by Taylor Williams August 15, 2019

FRISCO, TEXAS — StreetLights Residential, a multifamily developer with five offices across the country, has broken ground on The Margo, a 358-unit project within The Canals at Grand Park in Frisco. The property will feature one-, two- and three-bedroom units ranging in size from 505 to 2,000 square feet. The Margo will offer amenities such as two pools, an entertainment lawn with outdoor games, a fitness center, game room, theater room and a private lounge. LRK served as the architect for the project, completion of which is scheduled for spring 2021.

August 15, 2019

Development Multifamily Student Housing Texas

Parallel to Open 502-Bed Student Housing Community Near UT Austin on Aug. 18

by Taylor Williams August 15, 2019

AUSTIN, TEXAS — Parallel Co., a student housing development and investment firm, will open MUZE, its new 502-bed community that is located two blocks from the University of Texas in Austin. The grand opening is set for Sunday, Aug. 18. Located at 2100 Neuces St., the 18-story property will offer one-, two-, three- and four-bed units that will come fully furnished with stainless steel appliances, quartz countertops and washers and dryers. Walk-in closets will be available in select units. Amenities will include a study lounge with private rooms, a rooftop pool and theater, outdoor kitchen and a fitness center. Rhode Partners served as the project architect, and Rogers-O’Brien Construction served as the general contractor. KeyBank Real Estate Capital provided construction financing.

August 15, 2019

Loans Multifamily Texas

Berkadia Provides $47.2M Construction Loan for Metro Dallas Apartment Project

by Taylor Williams August 15, 2019

ALLEN, TEXAS — Berkadia has provided a $47.2 million HUD construction loan for Stacy Pointe Apartments, a 326-unit multifamily community in the northeastern Dallas suburb of Allen. The property will offer one- and two-bedroom floor plans and amenities such as a pool, fitness center, business center, media areas and coworking office space. Chad Bedwell of Berkadia secured the loan through HUD’s 221(d)(4) program on behalf of Texas-based Stacy Pointe Partners LP. The loan carried an 85 percent loan-to-cost structure.

August 15, 2019

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 355-Unit Self-Storage Facility in Laredo

by Taylor Williams August 15, 2019

LAREDO, TEXAS — Marcus & Millichap has arranged the sale of Mines Road Self Storage, a 355-unit facility located in the South Texas city of Laredo. The property spans 47,830 net rentable square feet and is located on a thoroughfare that sees approximately 52,000 vehicles per day. Jon Danklefs of Marcus & Millichap represented the seller, a partnership, in the transaction. The buyer was Store It All Storage, which has 17 locations in Texas.

August 15, 2019

Development New York Northeast Office

F&T, SCG America Open 85,000 SF Office Building in Queens

by Alex Patton August 15, 2019

NEW YORK CITY — A partnership between New York-based developers F&T Group and SCG America has opened Tangram Tower, an 85,000-square-foot office building within the Tangram mixed-use development in Queens. The building is currently 80 percent sold to medical practitioners and other professionals. Tangram Tower offers access to the 1.2 million-square-foot Tangram development’s two residential towers and hotel, as well as an array of retail and culinary options. Margulies Hoelzli Architecture designed the development.

August 15, 2019

Acquisitions New York Northeast Retail

JLL Brokers $17M Sale of Retail Center on Long Island

by Alex Patton August 15, 2019

LONG ISLAND, N.Y. — JLL has brokered the $17 million sale of Hubbard’s Commons, a 65,970-square-foot, grocery-anchored retail center on Long Island. At the time of sale, the property was 98 percent leased to tenants such as Best Market, Rite Aid Pharmacy and Orangetheory Fitness. Jose Cruz, Steve Simonelli, Kevin O’Hearn, Michael Oliver, Andrew Scandalios and Grace Braverman of JLL represented the seller, Urban Edge Properties, in the transaction. ShopOne Centers REIT purchased the asset.

August 15, 2019

evergreen-walk-south-windsor-connecticut

Connecticut Development Multifamily Northeast Seniors Housing

Confluent, Harbor Retirement to Build 113-Unit Senior Living Community in South Windsor, Connecticut

by Alex Patton August 15, 2019

SOUTH WINDSOR, CONN. — A partnership between Confluent Development, a Denver-based developer, and Harbor Retirement Associates will break ground this month on HarborChase of Evergreen Walk, a 113-unit senior living community in South Windsor, located near Hartford. The 111,915-square-foot community will offer one- and two-bedroom units and access to The Promenade Shops at Evergreen Walk, an outdoor mall with retail and restaurants. Milwaukee-based Plunkett Raysich Architects designed the project, and Whiting-Turner is the general contractor. Construction is slated for completion in December 2020.

August 15, 2019

Industrial Leasing Activity Massachusetts Northeast

Colliers Negotiates 62,000 SF Industrial Lease in Peabody, Massachusetts

by Alex Patton August 15, 2019

PEABODY, MASS. — Colliers International has negotiated a 62,000-square-foot industrial lease in Peabody, a suburb of Boston. Needham-based contractor Bowdoin Construction will convert the warehouse property into a printing facility for the new tenant, Spire Printing. Greg Klemmer, Tim Brodigan, Tim Allen and Dan Driscoll of Colliers represented the landlord, Boston-based Novaya Ventures, in the lease negotiations. John Cremmen of Boston-based Denenberg Realty Advisors represented Spire, which will move into the property in late summer 2019.

August 15, 2019

Loans Multifamily New York Northeast Seniors Housing

NorthMarq Arranges $7.5M Loan for Refinancing of Seniors Housing Community in Mount Vernon, New York

by Alex Patton August 15, 2019

MOUNT VERNON, N.Y. — NorthMarq has arranged a $7.5 million loan for the refinancing of Lohman Village, a 31-unit seniors housing community in Mount Vernon, a northern suburb of New York City. The loan features a fixed interest rate with a seven-year term on a 30-year amortization schedule. Robert Ranieri of NorthMarq arranged the loan through PCSB Bank. The borrower was New York-based seniors housing owner Wartburg.

August 15, 2019

Development Georgia Industrial Southeast

Brennan Investment to Develop 216,000 SF Spec Industrial Building Near Atlanta

by Alex Tostado August 15, 2019

CONYERS, GA. — Brennan Investment Group has acquired 15.9 acres in Conyers to develop a 216,000-square-foot speculative industrial building. The site is located at 2082 E. Park Drive, 28 miles east of downtown Atlanta. The facility will include 32-foot clear heights, an ESFR sprinkler system, auto parking and trailer storage. Groundbreaking is scheduled for the third quarter, with completion expected in the third quarter of 2020. Bobby Mayson of Lavista Associates represented the buyer in the transaction. The seller and sales price were not disclosed.

August 15, 2019

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