Property Type

WINSTON-SALEM, N.C. — FourPoint Student Housing Investments has arranged the sale of Deacon Place, a 328-bed student housing community located near Wake Forest University in Winston-Salem. The property opened in 2017 and offers suite- and townhome-style units. Community amenities include a resort-style swimming pool, fitness center, study lounge and a putting green. Chris Epp, Chris Bancroft, Meredith Wolff and Craig Miller of FourPoint arranged the sale on behalf of the seller, Signet Real Estate Group. The buyer and terms of the transaction were not disclosed.

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PGA-Headquarters-Frisco-Texas

FRISCO, TEXAS — The PGA of America will move its headquarters from South Florida’s Palm Beach County to Frisco, where it will anchor a 600-acre, mixed-use development. The organization’s initial investment in the northern Dallas suburb will exceed $500 million, while the overall economic impact of the move will exceed $2.5 billion over the next 20 years. The PGA’s new headquarters will include two championship golf courses, a short course and practice areas totaling 45 holes, as well as a clubhouse, Class A office space, 500-room Omni Hotel, 127,000-square-foot conference center and a retail village. A joint venture between Omni Hotels & Resorts, Stillwater Capital and Woods Capital will purchase the land and construct the hotel, conference center, retail space and golf courses. The golf courses are expected to open in summer 2022. The hotel, convention center and other facilities are expected to open within six months of that date.  

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Southport-Logistics-Center-Wilmer-Texas

WILMER, TEXAS — Chicago-based Logistics Property Co. LLC (LPC) has purchased Southport Logistics Park, a 252-acre industrial park located in the southern Dallas suburb of Wilmer. The site, which is located one mile from Interstate 45 and the Union Pacific Intermodal, currently houses 1.5 million square feet across two buildings. LPC intends to expand the park to ultimately feature more than 8.6 million square feet of Class A space. CBRE will market the project for lease.

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Lakeyard-District-Lewisville-Texas

LEWISVILLE, TEXAS — Dallas-based Leon Capital Group will develop Lakeyard District, a 364-unit multifamily community that will be located in the northern Dallas metro of Lewisville. Situated on 15.2 acres, the Class A property will offer one-, two- and three-bedroom units and amenities such as a pool, outdoor grilling area, fitness center, dog park and TV lounges. LG Wade is the general contractor for the project and BGO Architects is handling design. Preleasing is expected to begin in August. The first units are slated for a November 2019 delivery.

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HOUSTON — Houston-based Q10 KDH has arranged a $26.1 million non-recourse loan for a portfolio of single-tenant office buildings located across Texas. The portfolio consists of 20 assets totaling 295,104 square feet across 18 markets. Proceeds were used for both acquisitions of new properties and refinancing of existing assets in the undisclosed borrower’s portfolio. Emily Zarcaro of Q10 KDH arranged the 10-year, fixed-rate loan, which included five years of interest-only payments, through Silverpeak Argentic. The names of the properties were not disclosed.

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WESTCHESTER, N.Y. — Leviathan Capital has secured a $20 million construction loan for the Grand, a transit-oriented multifamily community in Westchester. The 56,000-square-foot project will consist of 15 townhomes and nine penthouse units. The project is slated to be completed in 2021. Leviathan secured the non recourse loan with a completion and carry guaranty to the borrowers, a group that includes NBA basketball player Luol Deng. The lender was undisclosed.

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FORT WORTH, TEXAS — Greysteel has arranged the sale of Ridglea Square Apartments, a 54-unit multifamily community in Fort Worth. The property was built in 1960 and is located near Texas Christian University, the Fort Worth Botanical Gardens and Fort Worth Zoo. Doug Banerjee, Boyan Radic, Andrew Mueller, Andrew Hanson, Scott Simon, Jack Stone and Moises Maldonado of Greysteel represented the seller and procured the buyer in the transaction. Both parties requested anonymity.

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RIDGEFIELD, N.J. — Talonvest Capital has arranged a $13.6 million construction loan for a 152,000-square-foot self-storage facility in Ridgefield. Located at 625 Grand Ave., the five-story building will feature 1,220 climate-controlled storage units as well as drive-in loading bays. Tom Sherlock, Jim Davies, Erich Pryor, and Terra Hendrich of Talonvest secured the financing on behalf of borrower, Integritas Partners. The lender was a Midwestern bank. The loan included a five-year term with interest-only payments.

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PHILADELPHIA — NAI Mertz has brokered the sale of an 84,400-square-foot industrial facility in Philadelphia. The sales price was undisclosed. Located at 3601 Island Ave., the property features six-inch reinforced concrete floors, six tailgates, 14 covered van-high loading positions and ceiling heights ranging from 15 to 23 feet. Jonathan Klear of NAI Mertz represented the buyer, seafood supplier Ocean Kingdom Inc., in the transaction. The seller was undisclosed. Ocean Kingdom will utilize a portion of the building for its own purposes and will also serve as landlord of the property to two existing tenants.

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NEW YORK CITY — Thor Equities has sold a 7,900-square-foot retail property in Brooklyn. The sales price was undisclosed. Located at 1221 Ave. J in the Midwood neighborhood of Brooklyn, the three-story property includes more than 135 feet of frontage on Avenue J and East 13th Street. Thor Equities acquired the building in 2014 and secured a long-term lease with Capital One for the entire property.

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