Property Type

JVM Completes Renovations at Apartment Community in Indianapolis

by Kristin Harlow December 12, 2018

INDIANAPOLIS — JVM Realty Corp. (JVM) has completed the renovation of the common areas at Circa Apartments, a 265-unit luxury apartment community that it owns in downtown Indianapolis. The new features at Circa include an expanded pet park, a new pet washing station, automated package room, upgraded fitness center and co-working lounge. The renovation also included a redesigned clubhouse and new furniture for the pool and resident lounge. Holt Construction was the contractor for the project and Laura Braucher of Studio 5 Interiors Inc. was the designer.

December 12, 2018

Loans Michigan Midwest Multifamily

SunTrust Originates $16.3M Acquisition Loan for Multifamily Property in Warren, Michigan

by Kristin Harlow December 12, 2018

WARREN, MICH. — SunTrust Banks Inc. has originated a $16.3 million bridge loan for the acquisition of Hoover Square in Warren, a suburb of Detroit. The 342-unit multifamily property, built in 1965, features one- and two-bedroom units. The asset is 90 percent occupied. Evan Hom of SunTrust originated the two-year, floating-rate loan on behalf of the Michigan-based borrower.

December 12, 2018

Development Industrial Texas

Majestic Realty Begins Work on 535,113 SF Industrial Project in Kyle, Texas

by Taylor Williams December 12, 2018

KYLE, TEXAS — Majestic Realty Co. has begun work on Kyle Crossing Business Park, a two-building, 535,113-square-foot industrial project in Kyle, a city located off Interstate 35 in between Austin and San Antonio. The first building will total 307,840 square feet and feature 36-foot clear heights, 89 dock-high doors, 383 auto parking spaces and 136 trailer parking spaces. The second building will span 227,273 square feet and feature 32-foot clear heights, 56 dock-high doors, 269 auto parking spaces and 85 trailer parking spaces. Both buildings are expected to be complete by the third quarter of 2019. JLL is serving as the exclusive leasing partner on this project, with senior vice presidents Ace Schlameus and Zane Cole leading the effort.

December 12, 2018

Acquisitions Office Texas

JMC Holdings Acquires 410,000 SF Office Tower in North Dallas

by Taylor Williams December 12, 2018

DALLAS — New York City-based investment firm JMC Holdings LLC has acquired Lakeside Square, a 410,000-square-foot office tower located along the Lyndon B. Johnson Freeway in north Dallas. The Class A, 18-story property was built in 1985 and offers amenities such as a fitness center, a deli and multiple conference rooms. JMC Holdings will invest more than $20 million in capital improvements to the building. The seller was California-based Younan Properties. The sales price was not disclosed.

December 12, 2018

Acquisitions California Industrial Office Western

Joint Venture Acquires 208,904 SF Former Hughes Aircraft Facility in Carlsbad

by Amy Works December 12, 2018

CARLSBAD, CALIF. — A joint venture between SteelWave and funds managed by Angelo Gordon has purchased a former Hughes Aircraft Co. facility, located at 2051 Palomar Airport Road in Carlsbad. Palomar Acquisitions Partners sold the single-story, multi-tenant property for an undisclosed price. Situated on more than 13 acres, the property was originally developed as a build-to-suit campus for Hughes Aircraft Co. in the early 1980s, with a series of renovations over the decades. The buyer plans to convert the 208,904-square-foot asset into a modern creative office/R&D campus. Renovations will include exterior upgrades and improved amenities, as well as a re-branding that will both honor the property’s history and embrace its future use as a creative environment for tech, biotech and creative industry tenants. Upgrades will include a new full-service fitness center, a bistro with indoor/outdoor seating, contemporary architecture, common areas with gaming and lounge areas, and multiple outdoor patios and workspaces. Aric Starck and Rick Reeder of Cushman & Wakefield’s San Diego office represented the seller in the deal.

December 12, 2018

Development Multifamily Texas

Koontz Corp. Breaks Ground on 328-Unit Apartment Community in San Antonio

by Taylor Williams December 12, 2018

SAN ANTONIO — Koontz Corp., a San Antonio-based developer, has broken ground on Palmetto Pointe, a 328-unit apartment community in San Antonio. The community will be situated on 15.2 acres on the northwest side near the city’s two largest private employers, USAA and South Texas Medical Center. Floor plans call for one- and two-bedroom units. Koontz aims to complete the entire 13-building complex in approximately 24 months. The leasing office and clubhouse are expected to open in July 2019, when the first units become available for occupancy.

December 12, 2018

Development Multifamily Texas

Arel Capital Completes Renovation of Hurricane-Damaged Multifamily Property in Houston

by Taylor Williams December 12, 2018

HOUSTON — New York City-based Arel Capital has completed the $10 million renovation of Bayou on the Bend, a 242-unit high-rise multifamily property in Houston. The project upgraded 152 units that were damaged by Hurricane Harvey, as well as both the interior and exterior amenity spaces. Arel Capital acquired Bayou on the Bend in May 2017, three months before the storm. The property features one-, two- and three-bedroom units and amenities such as a pool, business center and a game room.

December 12, 2018

Industrial Leasing Activity Texas

Marketing Firm Signs 241,931 SF Industrial Lease in South Dallas

by Taylor Williams December 12, 2018

DALLAS — Taylor Communications, a provider of labels, packaging and corporate branding services, has signed a 241,931-square-foot industrial lease at 8700 Autobahn Drive in south Dallas. The lease represents an expansion from the company’s previous footprint of 220,110 square feet. John Gorman and Canon Shoults of Holt Lunsford Commercial represented the landlord, TA Associates, in the lease negotiations. Ann Huntington of CBRE represented the tenant.

December 12, 2018

California Development Retail Western

Armstrong Development to Build 240,000 SF Shopping Center in Roseville, California

by Amy Works December 12, 2018

ROSEVILLE, CALIF. — Armstrong Development has announced plans for Campus Oaks Town Center, a shopping center located at the corner of Blue Oaks Boulevard and Roseville Parkway in Roseville. The Roseville City Council recently unanimously approved the project. Construction for the 240,000-square-foot property is slated to begin in spring 2019, with delivery scheduled for summer 2020. Nugget Markets and 24 Hour Fitness will anchor the property, which is approximately 66 percent leased to date and expected to be 85 percent leased by the start of construction. Additional tenants will include The Learning Experience, MOD Pizza, Posh Nail Salon, Fresh Cleaners, Jasmine Mongolian BBQ, Supercuts and Ben’s Barketplace.

December 12, 2018

Acquisitions California Multifamily Western

Levin Johnston Negotiates $24.2M Sale of Vista Del Sol Apartments in Bay Area

by Amy Works December 12, 2018

PLEASANTON, CALIF. — Levin Johnston of Marcus & Millichap has directed the sale of Vista Del Sol, a multifamily property located at 2451-2529 Santa Rita Road in downtown Pleasanton. A private LLC sold the property to a local investor for $24.25 million. Situated on 3.4 acres, Vista Del Sol features 73 apartments, 50 of which were recently remodeled. The property underwent a $1.4 million capital improvement campaign consisting of extensive exterior and interior upgrades, including a remodeled clubhouse, updated gym and outdoor pool/barbecue area, and new signage. Adam Levin and Robert Johnston of Levin Johnston represented the seller and buyer in the deal.

December 12, 2018

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