Property Type

Security Properties, ReCap Buy Apartment Community Near Nashville for $55M

by Amy Works October 25, 2018

GALLATIN, TENN. — Security Properties and ReCap, a Reinsurance Group of America company, acquired Stoneridge Farms at the Hunt Club, a garden-style apartment community in Gallatin, a suburb 25 minutes from Nashville. The Class B property features 364 units in a mix of one-, two- and three-bedroom floorplans with oak raised panel cabinet doors, laminate countertops, a mix of vinyl and carpeting and faux stainless steel appliances. The buyers plan to renovate all unit interiors to a high-end finish, with stainless steel appliances, quartz countertops, upgraded vinyl and carpeting and new fixtures. Security Properties Residential, an affiliate of Security Properties, will manage the asset.

October 25, 2018

The-Lively-Carolina-Forest-Myrtle-Beach-SC

Acquisitions Multifamily South Carolina Southeast

Passco Acquires Newly Built Multifamily Property in Myrtle Beach for $48.2M

by Amy Works October 25, 2018

MYRTLE BEACH, S.C. — Passco Cos. has purchased The Lively at Carolina Forest, an apartment property located at 107 Village Center Blvd. in Myrtle Beach. Orange Capital Advisors/CF Evans sold the property for $48.2 million. Constructed in 2017, the property features 305 units in a mix of studio, one-, two- and three-bedroom floorplans with nine- and 10-foot ceilings, quartz or granite countertops, vinyl plank wood or polished concrete flooring, stainless steel appliances, washers/dryers and walk-in closets. Onsite amenities include a standalone community “beach house” backing up to a several-acre water feature, community gardens, a fire pit, gathering area, gas grilling stations, fitness center with kids’ room, car care station, dog park, dog washing station, package attendant service, a saltwater pool and elevators. Marc Robinson, Jordan McCarley and Tai Cohen of Cushman & Wakefield represented both the buyer and seller in the deal. Chris Black and Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing for Passco Cos.

October 25, 2018

Acquisitions Kentucky Multifamily Southeast

Goldin Management Sells 192-Unit Apartment Complex in Louisville

by Amy Works October 25, 2018

LOUISVILLE, KY. — Goldin Management has sold Colonial Oaks, a multifamily development located at 5011 Southside Drive in Louisville. Patrick Kelley and Connie Kelley acquired the property for an undisclosed price. Built in 1970, Colonial Oaks features 192 units in a mix of one- and two-bedroom layouts. Brandon Wilson and Brian Devlin of Nashville-based The Kirkland Co. brokered the deal.

October 25, 2018

Acquisitions Mixed-Use New York Northeast

Big City Realty Acquires Mixed-Use Building in Manhattan for $18.4M

by David Cohen October 25, 2018

NEW YORK CITY — Big City Realty LLC has acquired a six-story mixed-use building in the Hamilton Heights neighborhood of Manhattan for $18.4 million. Located at 3440 Broadway, the 47,714-square-foot property includes 34 residential units, five retail stores and two professional offices. Peter Vanderpool of Cignature Realty represented Big City Realty in the transaction. The seller was undisclosed.

October 25, 2018

Acquisitions New Jersey Northeast Office Retail

HFF Brokers $16.2M Sale of Retail Center, Medical Office Building in New Jersey

by David Cohen October 25, 2018

WASHINGTON, N.J. — HFF has brokered the $16.2 million sale of The Village Shoppes at Hawk Pointe and Hunterdon Medical Office Building in Washington. The Village Shoppes at Hawk Pointe comprises an 81,415-square-foot, fully leased, ShopRite-anchored retail center. Other tenants at the retail property include Anytime Fitness and Visions Federal Credit Union. Built in 2016, the Hunterdon Medical Office Building is a 25,000-square-foot, single-tenant property occupied by Hunterdon Healthcare. HFF represented the seller, Asbury Farms, in the transaction. The buyer was Larken Associates.

October 25, 2018

Development Mixed-Use Texas

City Council Approves 80-Acre Mixed-Use Project in Metro Austin

by Taylor Williams October 25, 2018

BEE CAVE, TEXAS — The Bee Cave City Council has approved the latest phase of development of Village at Spanish Oaks, an 80-acre mixed-use project that will be located along State Highway 71 in Bee Cave, a northwestern suburb of Austin. The project represents the final phase of Spanish Oaks, a 1,200-acre master-planned development by CCNG Inc. and Greenbrier Southwest Corp. Preliminary plans call for office, retail, restaurant, hotel and residential components. According to The Austin American-Statesman, construction of the buildings is expected to begin in 2020.

October 25, 2018

Acquisitions Industrial Self-Storage Texas

SkyView Arranges Sale of 558-Unit Self-Storage Facility in San Antonio

by Taylor Williams October 25, 2018

SAN ANTONIO — Tampa-based self-storage brokerage firm SkyView Advisors has arranged the sale of 1604 Store and More, a 558-unit self-storage facility in San Antonio. The property totals 140,220 net rentable square feet across 269 climate-controlled units and 289 non-climate-controlled units. Ryan Clark and Cameron Vale of SkyView Advisors represented the undisclosed seller in the transaction.

October 25, 2018

Loans Multifamily Texas

Natixis Originates $45M Acquisition Loan for Houston Apartment Complex

by Taylor Williams October 25, 2018

HOUSTON — French investment bank Natixis has originated a $45 million loan for the acquisition of Venue Museum District, a 224-unit multifamily complex in Houston. The Class A, mid-rise property, which is located at 5353 Fannin St., features one- and two-bedroom units and amenities such as a pool, resident lounge, fitness center and outdoor kitchen. The borrower was Hines Global Income Trust.

October 25, 2018

Acquisitions Industrial Texas

Newcor Brokers Sale of 12,000 SF Industrial Building in Houston

by Taylor Williams October 25, 2018

HOUSTON — Newcor Commercial Real Estate has brokered the sale of a 12,000-square-foot industrial building located at 8715 Golden Spike Lane in Houston. David Alexander of Newcor Commercial represented the seller, NSH Properties, in the transaction. Kyle Prater of Newmark Knight Frank represented the buyer, Hyvonen Properties, which will occupy the property and use it for cold storage.

October 25, 2018

Acquisitions Retail Texas

Orr Commercial Sells 8,729 SF Retail Strip Center in Houston

by Taylor Williams October 25, 2018

HOUSTON — Houston-based Orr Commercial has sold Memorial Thicket Corner, an 8,729-square-foot retail strip center in Houston’s Energy Corridor. Completed in 2014, the center was fully leased at the time of sale to tenants such as Mattress Firm, Vision Source and USA Nails. Ryan West and John Indelli of HFF marketed the property on behalf of Orr Commercial. The buyer was not disclosed.

October 25, 2018

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