Property Type

HFF Arranges Refinancing of Two Apartment Communities Totaling 552 Units in Metro Houston

by Taylor Williams May 30, 2019

STAFFORD, TEXAS — HFF has arranged two loan of undisclosed amounts for the refinancing of two multifamily communities totaling 552 units in Stafford, a southwestern suburb of Houston. Shadowbrooke, built in 2003, features 240 units and was 92 percent occupied at the time of loan closing. Silverbrooke, completed in 2007, totals 312 units and was 93 percent occupied. A private park adjoins the two properties, providing shared amenities such as a jogging trail, sand volleyball court, playground and putting green. Each community also houses its own resort-style swimming pool, hot tubs, clubhouse and fitness center. Cortney Cole and John Williamson of HFF worked on behalf of the borrower, Venterra Realty, to secure the loans, both of which were structured with 10-year terms and fixed interest rates.

May 30, 2019

Loans Multifamily ORIX Seniors Housing Texas

Lancaster Pollard Places Two Bridge Loans Totaling $42M for Skilled Nursing Portfolio in Texas

by Taylor Williams May 30, 2019

TEXAS — Lancaster Pollard Mortgage Co. has placed two bridge loans totaling $42 million for the recapitalization of a five-property portfolio of skilled nursing facilities located throughout Texas. In the first transaction, Lancaster Pollard provided a $12 million loan with a 12-month term for two facilities in South Texas. The transaction refinanced existing debt and provided equity-out proceeds. In the second transaction, Lancaster Pollard worked with syndicate partner MB Financial Bank to secure a $30 million, 30-month bridge loan for three facilities in South Texas. Scott Blount, Chris Mauger and Eric Sengpiel of Lancaster Pollard placed the debt on behalf of the borrower, Arboretum Group. The specific names and locations of the properties were not disclosed.

May 30, 2019

Acquisitions Office Texas

Colliers Brokers Sale of Houston Office Complex Totaling 234,746 SF

by Taylor Williams May 30, 2019

HOUSTON — Colliers International has brokered the sale of a two-building, 234,746-square-foot office complex in Houston. Located at 263 N. Sam Houston Parkway, one building totals 87,611 square feet and the other spans 147,135 square feet and includes a four-story parking garage. David Carter of Colliers represented the seller, BH Properties, in the transaction for the Class B buildings. The buyer was not disclosed, but the property is listed on the Houston portfolio page of Lincoln Property Co.

May 30, 2019

Acquisitions Industrial Texas

JLL Negotiates Sale of 23,413 SF Former Freight Depot Building in Fort Worth

by Taylor Williams May 30, 2019

FORT WORTH, TEXAS — JLL has negotiated the sale of the 23,413-square-foot former Katy Depot located near downtown Fort Worth. The property was originally built in 1909 as a freight depot for the Katy Railroad, which connected Missouri, Texas and Kansas. The building served as a builder’s supply house from 1996 until the seller, Besco Supply, a family-owned masonry and building supply company, relocated to larger facility last year. Joel St. John and Ryan Matthews of JLL represented Besco in the sale. Todd Hubbard of NAI Robert Lynn represented the buyer, a medical supply company that plans to renovate the building. Plains Capital Bank provided acquisition financing for the deal. The sales price was not disclosed.

May 30, 2019

Loans Multifamily Seniors Housing Texas

Hunt Capital Partners Obtains $8.4M Financing for Affordable Seniors Housing Project in Irving

by Taylor Williams May 30, 2019

IRVING, TEXAS — Hunt Capital Partners, in partnership with Saigebrook Development and O-SDA Industries, has obtained $8.4 million in federal low-income housing tax credits for the development of Canova Palms, an affordable seniors housing project in Irving. The three-story property will feature 58 units. Of those, 50 will be reserved for seniors who earn up to 30, 50 and 60 percent of the area median income. Maker Bros. is the general contractor, and Miller Slayton Architects Inc. is the architect for the project. Construction began in mid-May and is slated for completion in May 2020.

May 30, 2019

Loans Midwest Minnesota Multifamily

Dekel Capital Arranges $41M Bridge Loan for Multifamily Community in Metro Minneapolis

by Kristin Harlow May 30, 2019

ST. LOUIS PARK, MINN. — Dekel Capital has arranged a $41 million bridge loan for Central Park West, a 199-unit multifamily property in St. Louis Park. Ares Real Estate Group, which manages debt funds, provided the financing that will be used to retire the existing construction loan and provide for the continued lease-up and stabilization of the property. The community is currently 81 percent leased. Central Park West features a mix of studio, one-, two- and three-bedroom units. Property amenities include a clubhouse, business center, pool, fitness room and outdoor seating areas.

May 30, 2019

Acquisitions Illinois Industrial Midwest

Brennan, Arch Street Acquire 1.3 MSF True Value Co. Distribution Facility in Harvard, Illinois

by Kristin Harlow May 30, 2019

HARVARD, ILL. — A joint venture of Brennan Investment Group LLC and a client of Arch Street Capital Advisors LLC has acquired a 1.3 million-square-foot distribution facility occupied by True Value Co. in Harvard, located approximately 30 miles northeast of Rockford, Ill. The purchase price was not disclosed. True Value, a hardware wholesaler, has occupied the property since 1998. This is the final acquisition in a portfolio owned by Brennan and Arch Street, but the companies plan to launch another venture to continue to seek single-tenant, net-leased industrial properties. David Berglund and Tom Shepherd of Colliers International represented the seller, Industrial Realty Group LLC.

May 30, 2019

Acquisitions Indiana Midwest Retail

NKF Brokers Sale of 676,322 SF Regional Mall in Terre Haute, Indiana

by Kristin Harlow May 30, 2019

TERRE HAUTE, IND. — Newmark Knight Frank (NKF) has brokered the sale of Honey Creek Mall in Terre Haute for an undisclosed price. JC Penney and Vendor’s Village anchor the 676,322-square-foot regional mall. Additional retailers include American Eagle, Bath & Body Works, Hollister, Shoe Dept. Encore and Ulta Beauty. Located near I-70, the property is the only enclosed regional mall within a 50-mile radius. Thomas Dobrowski of NKF represented the seller, CBL Properties. The property sold for $14.6 million to Out of the Box Ventures, according to the Tribune-Star newspaper.

May 30, 2019

Development Midwest Multifamily Wisconsin

Evergreen, Legacy Open 64-Unit Mixed-Income Apartment Community in Milwaukee

by Kristin Harlow May 30, 2019

MILWAUKEE — Evergreen Real Estate Group and Legacy Midwest Renewal Corp. (LMRC) have opened Legacy Lofts in Milwaukee’s Lindsay Heights neighborhood. The 64-unit, mixed-income rental community, located at 1500 W. North Ave., is partially housed in the former Blommer Ice Cream Factory, a three-story structure that was built in 1928 and sat vacant for nearly two decades. The developers preserved the original building in accordance with National Park Service guidelines and converted it into 38 apartment units. A three-story addition to the factory houses another 26 units. Of the 64 units, 54 are affordable to households earning less than 60 percent of the area median income. Continuum Architects + Planners was the architect for the $13.9 million project. U.S. Bank, Associated Bank, the city of Milwaukee, the Wisconsin Housing and Economic Development Authority and IFF provided additional financial support. In addition to the residences, the project includes 1,565 square feet of street-level commercial space that houses the new offices of LMRC.

May 30, 2019

Acquisitions Midwest Retail Wisconsin

Cushman & Wakefield | Boerke Arranges Sales of Buildings Formerly Occupied by Babies ‘R’ Us, Toys ‘R’ Us in Wisconsin

by Kristin Harlow May 30, 2019

MADISON AND MILWAUKEE, WIS. — Cushman & Wakefield | Boerke has arranged the sale of a building formerly occupied by Babies ‘R’ Us in Madison and a building formerly occupied by Toys ‘R’ Us in Milwaukee. The 45,451-square-foot Babies ‘R’ Us sold for $3.2 million. The 38,000-square-foot Toys ‘R’ Us sold for $2.6 million. John Kuhn, Nathan Powers and David Tighe of Cushman & Wakefield | Boerke represented the sellers.

May 30, 2019

Newer Posts

Older Posts