Property Type

PCCP Provides $128M Acquisition Loan for 540,000 SF Office Portfolio in Southern California

by Amy Works September 25, 2018

NEWPORT BEACH AND IRVINE, CALIF. — PCCP has provided a $128 million senior loan to a joint venture between Angelo Gordon and Lincoln Property Co. for the acquisition and leasing of a four-property office portfolio in Newport Beach and Irvine. Totaling 540,000 square feet, the portfolio includes the 181,000-square-foot Redstone Plaza, an 83,000-square-foot property at 1201 Dove St. in Newport Beach, the 163,000-square-foot Inwood Park and the 112,000-square-foot Newport Summit in Irvine. Tenants from a range of industries — including finance, marketing, tech, food and beverage, legal, healthcare and real estate — occupy the properties. The buyer plans to execute an improvement plan to capitalize on strong rent growth and leasing in the submarket, as well as fill any remaining vacancy.

September 25, 2018

Development Multifamily Seniors Housing Texas

Civitas to Open Two Seniors Housing Communities in Greater Austin

by Taylor Williams September 25, 2018

AUSTIN, TEXAS — Fort Worth-based Civitas Senior Living plans to open Double Creek Assisted Living and Memory Care in Round Rock and Tech Ridge Oaks Assisted Living and Memory Care in North Austin. These two communities, which offer 92 and 86 units, respectively, are the result of a partnership between Civitas Senior Living and Senior by Design. Civitas acquired the properties in July. Each community offers dining options, a beauty salon, theater, therapy gym, landscaped courtyards and daily activities to promote engagement and encourage social interaction. Civitas plans to open Double Creek on Oct. 25 and Tech Ridge Oaks on Nov. 8.

September 25, 2018

Florida Loans Mixed-Use Southeast

TREO Group Receives $33M Construction Loan for Mixed-Use Waterfront Project in Miami’s Coconut Grove

by Camren Skelton September 25, 2018

MIAMI — The TREO Group has received a $33 million loan from FirstBank Florida for the construction of Regatta Harbour, a mixed-use waterfront development located in Miami’s Coconut Grove neighborhood. The project will be located at Dinner Key, a marina complex situated along the shore of Biscayne Bay. Upon completion, the 100,000-square-foot development will include retail space, three waterfront restaurants and a rooftop event space, dubbed Harbour Terrace. Historic airplane hangars dating back to the early 1900s will be used to create approximately 40,000 square feet of space for a food hall, specialty market, fitness or entertainment concept. In addition, Regatta Harbour will include marina services with dry storage slips for more than 400 vessels, an upgraded and relocated fueling station and 700 feet of transient floating docks. Architecture firm Arquitectonica is designing the project, which will be delivered in multiple phases. The new dry-storage marina is scheduled for completion in November, the retail component in the summer of 2019 and the waterfront restaurants in 2020. Lyle Stern and Sara Wolfe of Koniver Stern Group are handling the project’s leasing assignment.

September 25, 2018

Acquisitions Industrial Texas

ML Realty Partners Acquires 81,435 SF Industrial Building in Carrollton, Texas

by Taylor Williams September 25, 2018

CARROLLTON, TEXAS — ML Realty Partners has acquired an 81,435-square-foot industrial building located at 2908 Commodore Drive in Carrollton, a northern suburb of Dallas. The Class A building offers convenient access to Interstate 35 and State Highway 121. Michelle Hudson and Tom Hudson of Hudson Peters Commercial represented the undisclosed seller in the transaction and will handle leasing of the building for ML Realty Partners.

September 25, 2018

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 136,825 SF Industrial Lease in Metro Dallas

by Taylor Williams September 25, 2018

GARLAND, TEXAS — Lee & Associates has negotiated a 136,825-square-foot industrial lease at 2901 W. Kingsley Road in Garland, a northeastern suburb of Dallas. Nathan Denton of Lee & Associates represented the tenant Alliance Glazing, which does finish-outs of storefronts and façades, in the lease negotiations. Chris Stout and Randy Touchstone of JLL represented the landlord, Boston-based STAG Industrial. The tenant will relocate from its current space in Irving on November 1.

September 25, 2018

Acquisitions Arkansas Multifamily Southeast

HFF Negotiates Sale of 308-Unit Multifamily Property in Fayetteville, Arkansas

by Camren Skelton September 25, 2018

FAYETTEVILLE, ARK. — HFF has arranged the sale of Uptown Fayetteville Apartments+Shops, a 308-unit apartment community in Fayetteville. The eight-building property is located at 3959 N. Steele Blvd., roughly four miles north of downtown Fayetteville and the University of Arkansas. Steven Hahn Jr., Roberto Casas and Greg Toro of HFF arranged the transaction on behalf of the seller, Specialized Real Estate Group. In addition, Brian Carlton of HFF arranged a 10-year, fixed-rate acquisition loan through Freddie Mac on behalf of the buyer, Sun Holdings Group. The sales price and financing amount were not disclosed. Constructed in 2017, Uptown Fayetteville Apartments+Shops includes a mix of studio to two-bedroom units averaging 828 square feet, as well as 17,000 square feet of ground-floor retail. The LEED-certified community features a heated saltwater pool, outdoor gathering space, community garden, landscaped roof deck, outdoor grilling area, fitness center and direct access to the Razorback Regional Greenway, a 36-mile, multi-use trail.

September 25, 2018

Industrial Leasing Activity Nevada Western

S&S Activewear Leases 802,113 SF Industrial Facility in Reno

by Amy Works September 25, 2018

RENO, NEV. — S&S Activewear has signed a lease for an industrial facility at North Valleys Commerce Center in Reno. The national wholesaler of imprintable apparel will occupy the 802,113-square-foot property located at 9550 N. Virginia St., Building D. The company also plans to hire approximately 350 employees for the facility, which is owned and operated by CP Logistics NVCC II, a joint venture between CALSTERS and Panattoni Development Co. Michael Nevis, Michael Hoeck, Steve Kucera and Tim Gunsten of Kidder Mathews represented the landlord in the lease transaction.

September 25, 2018

Acquisitions California Multifamily Western

Champion Real Estate Co. Buys Two-Property Multifamily Portfolio in Glendale for $14.1M

by Amy Works September 25, 2018

GLENDALE, CALIF. — Champion Real Estate Co. has purchased a two-property apartment portfolio in Glendale. A private individual sold the portfolio for $14.1 million. The acquisition includes a 36-unit community located at 348 W. Chevy Chase Drive and a 26-unit community located at 1119-1123 E. Elk Ave. Champion South Glendale, a subsidiary of Champion, will immediately implement a $2.6 million comprehensive interior and exterior physical improvement and renovation program. The upgrade plan will also address significant deferred maintenance issues stemming from the previous long-term owner including seismic retrofitting on both properties. Built in 1963, 348 W. Chevy Chase Drive features four studio units, 20 one-bedroom/one-bath units and 12 two-bedroom/one-bath units. 1119-1123 E. Elk Ave. was built in 1961 and features 24 one-bedroom/one-bath units and two two-bedroom/one-bath units. With this acquisition, Champion now owns and operates more than 225 units in the Tri-Cities region, which also includes Pasadena and Burbank.

September 25, 2018

Acquisitions Industrial Texas

Riverfront Properties Sells 40,353 SF Industrial Asset in Greater Dallas

by Taylor Williams September 25, 2018

CARROLLTON, TEXAS — Riverfront Properties LP has sold a 40,353-square-foot industrial asset located at 1325 Capital Parkway in Carrollton, located on the northern outskirts of Dallas. According to LoopNet Inc., the property was built in 1982 and includes a portion of office space. Brian Pafford of Bradford Commercial Real Estate Services represented Riverfront in the sale. Huntly Luna of NAI Robert Lynn represented the buyer, Roane Property Holdings LLC.

September 25, 2018

Acquisitions California Industrial Western

Cushman & Wakefield Brokers $12M Sale of Benicia Industrial Park in California

by Amy Works September 25, 2018

BENICIA, CALIF. — Cushman & Wakefield has arranged the sale of Benicia Industrial Park in South Solano County. Benicia Partners sold the property to Sarkissian Trust for $12 million. Located at 5500 E. Second St. in Benicia, the property features 63,108 square feet of flex and R&D space. At the time of sale, Bio-Rad Laboratories fully occupied the building. Brooks Pedder, Douglas Longyear and Tony Binswanger of Cushman & Wakefield’s Walnut Creek, Calif., and San Francisco offices represented the buyer and seller in the deal.

September 25, 2018

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