Property Type

MetroNational, Slate Complete 333-Unit Apartment Community in Houston

by Taylor Williams September 9, 2019

HOUSTON — A partnership between MetroNational and Slate Real Estate Partners has completed The McAdams, a 333-unit apartment community located in the Memorial City area of Houston. The property offers a mix of one-, two- and three-bedroom units ranging in size from 563 to 1,821 square feet and features custom cabinetry and stainless steel appliances. Amenities include a rooftop pool, resident lounge, fitness center, a game room and a pet park. Rents at The McAdams range from $1,515 to $4,865 for a three-bedroom unit, according to The Houston Chronicle.

September 9, 2019

Development Mixed-Use Northeast Pennsylvania

Pearl Properties Completes Development of 183-Unit Mixed Use Project in Philadelphia

by Alex Patton September 9, 2019

PHILADELPHIA — Pearl Properties has completed development of The Harper, a 183-unit mixed use building in Philadelphia. The 280,000-square-foot property includes office and retail space, as well as a ground-floor restaurant, co-working lounges and a fitness center with an indoor basketball court. An outdoor rooftop area features a heated pool, lounge and grilling area. DAS Architects designed the building.

September 9, 2019

Acquisitions Office Texas

Admiral Capital Group Acquires 249,564 SF Office Building in Dallas

by Taylor Williams September 9, 2019

DALLAS — Private equity investment firm Admiral Capital Group has acquired Fourteen555, a 249,564-square-foot, Class A office building located in the Lower Tollway submarket of Dallas. The seller, Cawley Partners, developed the asset in 2018. Amenities at the six-story property a full-service restaurant, a fitness center and a covered terrace with lounge seating. BOKA Powell designed the building.

September 9, 2019

Hospitality Loans New Jersey Northeast Walker & Dunlop

Walker & Dunlop Arranges $14M Acquisition, Construction Loan for Hotel in Newark, New Jersey

by Alex Patton September 9, 2019

NEWARK, N.J. — Walker & Dunlop has arranged a $14 million loan for the acquisition and redevelopment of a 191-room Holiday Inn in Newark. The property is situated across the street from Newark Liberty International Airport, and amenities include a fitness center, self-laundry and cocktail lounge. The borrower, a hotel investor, plans to extensively renovate and reposition the property over the next few years. A regional bridge lender provided the non-recourse, fixed-rate bridge loan at 77.5 percent loan to cost. Jeff Baik of Walker & Dunlop arranged the loan, the term of which was undisclosed.

September 9, 2019

Acquisitions New York Northeast Office

Jacobson, Pyramid Negotiate $13.6M Sale of Medical Office Building in Upstate New York

by Alex Patton September 9, 2019

KINGSTON, N.Y. — Jacobson Properties and Pyramid Brokerage, two New York-based firms, have arranged the $13.6 million sale of a Benedictine Cancer Center, a medical office building in Kingston. The 36,479-square-foot facility, located about 50 miles south of Albany, is 100 percent leased to HealthAlliance Hospital: Mary’s Avenue Campus. Lisa Menin of Jacobson Properties and Leo Jones of Pyramid Brokerage represented the undisclosed seller in the transaction. The buyer was a private equity investor.

September 9, 2019

Loans Retail Texas

Berkadia Arranges $15.4M CMBS Loan for Retail Asset Near San Antonio

by Taylor Williams September 9, 2019

NEW BRAUNFELS, TEXAS — Berkadia has arranged a $15.4 million CMBS loan for the refinancing of Courtyard Plaza, a retail strip center located near I-35 in New Braunfels, a suburb of San Antonio. Argentic provided the loan, which carries a 10-year term and a fixed interest rate. The borrower was not disclosed. The deal closed on August 27.

September 9, 2019

Acquisitions Retail Texas

Marcus & Millichap Brokers Sale of 30,942 SF Retail Strip Center in Houston

by Taylor Williams September 9, 2019

HOUSTON — Marcus & Millichap has arranged the sale of a 30,942-square-foot retail strip center located at 5301 Telephone Road in Houston. Pep Boys and Melrose, an apparel retailer, anchor the property. Gus Lagos and Nik Kapetanakis of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Lagos also secured the buyer, another limited liability company.

September 9, 2019

Industrial Leasing Activity Texas

Goodyear Signs 13,986 SF Industrial Lease Renewal in Metro Dallas

by Taylor Williams September 9, 2019

GARLAND, TEXAS — The Goodyear Tire & Rubber Co. has signed a 13,986-square-foot industrial lease renewal at 2820 Market St. in Garland, a northeastern suburb of Dallas. According to LoopNet Inc., the property was built on 2.3 acres in 1994. Ryan Boozer of Stream Realty Partners represented the landlord, 2820 Market Street Ltd., in the lease negotiations. Tim Vogds of CBRE represented the tenant.

September 9, 2019

Loans Multifamily Northeast Pennsylvania Seniors Housing

Grandbridge Arranges $34M Construction Loan for Seniors Housing Community in Pennsylvania

by Alex Patton September 9, 2019

LIMERICK, PA. — Grandbridge Seniors Housing and Healthcare Finance Group has arranged a $34 million construction loan for Arcadia at Limerick Pointe, a seniors housing development in Limerick, approximately 30 miles northwest of Philadelphia. Vantage Pointe Retirement Living is the borrower. Upon completion, the property will feature 160 units of independent living, assisted living and memory care. BB&T provided the funds. The Grandbridge team leading the transaction included Richard Thomas, Meredith Davis and Kim Huffstutler.

September 9, 2019

Development New York Northeast Pennsylvania Retail

The Escape Game to Build Two Concepts Totaling $4.5M in New York and Pennsylvania

by Alex Patton September 9, 2019

NEW YORK CITY and KING OF PRUSSIA, PA. — The Escape Game has selected Sachse Construction to build two new concepts in a project totaling approximately $4.5 million. One concept will be located in New York City and the other in King of Prussia, a northwestern suburb of Philadelphia. The Escape Game is a popular interactive puzzle game with national locations, and construction will include movie-like sets. The construction timeline was undisclosed.

September 9, 2019

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