DALLAS — Ziegler has arranged $91.9 million in tax-exempt bond financing for Presbyterian Village North, a 63-acre, nonprofit continuing care retirement community (CCRC) in Dallas. The campus is spread across 89 buildings featuring a total of 295 independent living units, 101 assisted living units, 44 memory support units and 172 skilled nursing beds. Proceeds of the bonds, along with trustee funds on hand were used to refund all outstanding debt, finance a project fund for pre-finance costs related to a future expansion, fund a debt service reserve and pay costs of issuance.
Property Type
FORT WORTH, TEXAS — Multifamily investment and development firm Wood Partners has opened Alta Waterside, a 361-unit multifamily community in Fort Worth. The property, which features one-, two- and three-bedroom units, is located within a larger mixed-use development called Waterside, which is anchored by a Whole Foods Market and features an array of retailers. Alta Waterside’s amenities include a pool, kitchen-style bar, clubhouse, conference room, cyber lounge, fitness center and hiking trails.
EL PASO, TEXAS — Pilot Freight Services, a transportation and logistics firm, has signed an 87,726-square-foot industrial lease at 445 Pan American Drive in El Paso. The company will occupy 100 percent of the property, which represents the first speculative industrial space built in El Paso during this cycle. Arturo de La Mora and Christian Perez Giese of CBRE represented the landlord and developer, Hanson Asset Management LP, in the lease negotiations. Chad McCleskey of CBRE represented the tenant.
DALLAS — TIG Real Estate Services has negotiated the sale of a 35,478-square-foot industrial building located at 9886 Chartwell Drive in Dallas. Matthew Hickey and Kristin Grammar of TIG represented the seller in the transaction. Beam Real Estate represented the buyer. Other terms of sale were not disclosed.
HOUSTON — Davis Commercial has brokered the sale of a 12,500-square-foot shopping center located at 10824 Kingspoint Road in Houston. The property was 100 percent occupied at the time of sale. Ryan Neyland of Davis Commercial represented the seller, Chimera Holdings LLC, in the transaction. The buyer was JTL Logistics Inc.
TRENTON, N.J. — Monmouth Real Estate Investment Corp. has acquired a 347,145-square-foot industrial facility in Trenton for $85.2 million. Located at 584 U.S. Highway 130, the 62-acre property is currently net-leased to FedEx Ground Packaging System Inc. with 14 years remaining on the term. The seller was undisclosed.
ANDOVER, MASS. — HFF has negotiated the $15 million sale of a 92,700-square-foot data center in Andover, approximately 24 miles north of Boston. Located at 15 Shattuck Road, the property was 100 percent leased at the time of the sale to Tierpoint, a national provider of information technology and data center services. Coleman Benedict, Ben Sayles and Kerry Hawkins of HFF represented the seller, Carter Validus Mission Critical REIT I, in the transaction. The buyer was Menlo Equities. Additionally, Jennifer Keller of HFF arranged $9 million in financing for the buyer through Berkshire Bank.
MANALAPAN, N.J. — CBRE has arranged the $8.6 million sale of Manalapan Tech Park, an 84,000-square-foot, 10-acre industrial flex facility in Manalapan. Located at 122-250 Park Ave., the property was built in 2005 and consists of nine buildings and 54 separate units. Each building includes both office and warehouse space. Charles Berger, Elli Klapper and Mark Silverman of CBRE represented the undisclosed seller in the transaction. The buyer was 120 Park SD LLC.
Paradigm Purchases Riverworks at Aetna Mills Office Complex in Watertown, Massachusetts
by David Cohen
WATERTOWN, MASS. — Paradigm Capital Advisors has acquired Riverworks at Aetna Mills, an office complex in Watertown. Located at 480 Pleasant St., the property was originally built in 1907 and has been renovated with a number of capital improvements. Recent upgrades include improvements to the common areas, building systems, tenant spaces, cafeteria, fitness center and interior courtyard. The property is currently 98 percent leased to 15 tenants. Riverworks is one mile from Watertown Square, three miles from Cambridge and seven miles from Boston’s central business district.
NEW YORK CITY — Cushman & Wakefield has brokered the $4.6 million sale of a 25-foot wide development site in Manhattan’s Hell’s Kitchen neighborhood. Located at 422 W. 49th St., the property includes 2,500 square feet of land with a total buildable square footage of approximately 10,500. Maurice Suede of Cushman & Wakefield represented the sellers, The Hakimian Organization and the Gorjian family, in the transaction. The buyer was Mortar Arch + Dev, which plans to develop residential condominiums on the site. The property is within walking distance to the 1, N, R, W, C and E subway trains.