HOUSTON — Dornin Investment Group, which has offices in Las Vegas and Laguna Beach, Calif., has sold 11777 Katy Freeway, a 120,520-square-foot office park located in the Energy Corridor area on Houston’s west side. Situated on 3.7 acres, the property was 60 percent occupied at the time of sale. Payton Indermuehle and Todd Jurek of Keen Realty Group LLC represented the buyer, Next Investments LLC, in the transaction. Dornin Investment Group was self-represented.
FRISCO, TEXAS — The Woodmont Co., a national real estate firm specializing in the development, management, leasing and sale of retail properties, has begun construction on a 10,000-square-foot retail project for Kiddie Academy in Frisco, a northern suburb of Dallas. Scheduled to open this summer, the school will offer full-time care, before- and after-school care and summer camp programs for children between 6 weeks and 12 years old.
HOUSTON — Colliers International has negotiated the sale of an 8,364-square-foot office building located at 15055 Woodham Drive, just off Interstate 45 in north Houston. Daniel Tapia and Tom Condon Jr. of Colliers International represented the seller, Nacobre USA LLC, in the transaction. Bob Conwell and John Nguyen of NewQuest Properties represented the buyer, Destiny Real Estate Houston LLC, an affiliate of California-based The Marwaha Group.
MIAMI — New York Life Real Estate has provided a $170 million loan for the refinancing of Wells Fargo Center in downtown Miami. The borrower, MetLife, owns the 47-story office tower, which was built in 2010 at 333 S.E. 2nd Ave. The loan has a 10-year term with an undisclosed fixed interest rate. Tenants in the 752,488-square-foot building include Wells Fargo Bank; McDermott, Will & Emery; Greenberg Traurig; and Deloitte. The property adjoins the JW Marriott Marquis and features an entertainment complex on the 19th floor, fitness center, spa, salon and meeting space.
DAVIE, FLA. — Boardwalk Properties has bought a 394-unit apartment complex for $119 million in Davie, about eight miles west of Fort Lauderdale. Boardwalk will rename the complex to The Avenue from its current name, Elan Maison. Amenities include a three-story clubhouse, fitness center, yoga studio, billiards and a pool. Neil Rollnick of Hinshaw & Culbertson LLP represented the buyer in the transaction. Pacific Investment Management Co. LLC and Greystar were the sellers.
CARY, N.C. — Accesso Partners LLC has bought the Weston I and II Parkway portfolio near Research Triangle Park in Cary for $73 million. The seller was Raleigh-based Capital Associates. Weston I is a six-story, 212,441-square-foot office building that was 97 percent leased at the time of the transaction. Weston II is a four-story, 77,742-square-foot building that was 100 percent leased at the time of the transaction. Ryan Clutter, Scot Humphrey, Chris Lingerfelt and Zack Drozda of HFF represented the seller in the transaction. Frank Baird of Capital Associates will stay on as property manager and leasing agent.
ORLANDO, FLA. — Avison Young has arranged a $70.5 million bridge loan for CitiTower, a 25-story, 233-unit multifamily complex in downtown Orlando. George Vail of Avison Young arranged the loan on behalf of the borrower, East SDG CitiTower LLC. Asia Capital Real Estate provided the three-year, floating-rate loan at an interest rate that was LIBOR plus 350 basis points. CitiTower was delivered in August 2017 and features studio, one-, two- and three-bedroom floor plans. Amenities include a rooftop pool, outdoor lounge and a 24-hour fitness center. CitiTower is located one block south of Lake Eola.
BIRMINGHAM, ALA. — Berkadia has arranged the $56 million sale of Wildwood Crossings Apartments, a 520-unit multifamily complex in Birmingham. The buyer, New York City-based White Eagle Property Group LLC, will renovate the interiors of the units as well as update amenities community-wide. David Oakley, David Wilson, Caleb Frizzell and Abe Maddox of Berkadia represented the undisclosed seller in the transaction.
SACRAMENTO, CALIF. — Seagate Properties has acquired The Senator, a landmark office building located at 1121 L Street in Sacramento. Swift Real Estate Partners sold the property for an undisclosed price. Opened in 1924 as a hotel, the property was converted into a 180,123-square-foot office building in 1982. The seller acquired the property in 2015 and implemented a renovation program to transform the building’s traditional office space into modern, creative workspace. Situated across from the California State Capitol, the 10-story building is currently 88 percent leased. Rob Hielscher, Michel Seifer and Erik Hanson of JLL Capital Markets team represented the seller in the deal. Additionally, Alex Witt, John Manning and Tom Gilliland of JLL Capital Markets worked with the buyer to arrange acquisition financing.
PHOENIX — LaSalle Investment Management, on behalf of LaSalle Property Fund, has purchased San Melia, a multifamily property located at 14435 S. 48th St. in Phoenix’s Ahwatukee Foothills neighborhood. Situated on 28 acres, the Mark Taylor-built community features 488 units and is located adjacent to more than 2.4 million square feet of retail, dining and recreation options at Ahwatukee Foothills Towne Center. A pedestrian walkway connects the property to the retail center, which is anchored by AMC Theatres and Sprouts Farmers Market. The acquisition price and name of the seller were not released.
