Property Type

Compass Commercial Real Estate Brokers $6.1M Sale of Deschutes Business Center in Bend, Oregon

by Amy Works October 10, 2018

BEND, ORE. — Compass Commercial Real Estate Services has arranged the sale of Deschutes Business Center, an office property located at 20332-20370 Empire Ave. in Bend. An undisclosed buyer acquired the property for $6.1 million. Situated on 5.7 acres, the 54,508-square-foot property was built in 1981 and consists of 39 suites spread across five buildings. At the time of sale, the property was 95 percent leased. Robert Raimondi, Russell Huntamer and John Keba of Compass Commercial Asset & Property Management represented the seller, while Gardner Williams, Peter May and Dan Kemp of Compass Commercial Real Estate Services represented the buyer in the deal. Additionally, Paul Weaver, also of Compass Commercial, assisted in representing both parties in the transaction.

October 10, 2018

Acquisitions Nevada Restaurant Retail Western

Marcus & Millichap Negotiates $3.2M Sale of Taco Bell-Occupied Property in Fernley, Nevada

by Amy Works October 10, 2018

FERNLEY, NEV. — Marcus & Millichap has arranged the sale of a restaurant property located at 170 U.S. Highway 95-A South in Fernley. An undisclosed buyer acquired the property from a private family trust for $3.2 million. Taco Bell occupies the 2,860-square-foot property on a net-leased basis. Dustin Alvino of Marcus & Millichap represented the buyer and seller in the transaction.

October 10, 2018

Development Loans Multifamily New Jersey Northeast Top Stories

Madison Realty Capital Provides $258M Construction Loan for 1,161-Unit Multifamily Portfolio in New Jersey

by David Cohen October 10, 2018

BAYONNE AND RARITAN, N.J. —Madison Realty Capital has provided $258 million in construction financing for a 1,161-unit multifamily development portfolio in Bayonne and Raritan. The portfolio consists of three large-scale, shovel-ready development sites. The financing will be used to complete site acquisitions and for the construction of all three projects. Jack Klugmann’s Accurate Builders and Developers of New Jersey owns the portfolio. Shaya Ackerman of Meridian Capital arranged the financing. Terms of the financing were not disclosed. “We’re financing three major transit-oriented development sites located in different towns, so clearly there are many moving parts,” says Josh Zegen, managing principal of Madison Realty Capital. “These are prime sites in communities with strong apartment demand based on demographics and transportation connections, and we believe they have great prospects for success.” Harbor Station South in Bayonne will consist of 651 units spread over two buildings. The project is located near the 34th Street Station of the Hudson-Bergen Light Rail system, which provides connections to New York City. A ferry station is also being planned in the vicinity with service to Manhattan and Staten Island. Amenities will include a rooftop pool overlooking the Hudson River, concierge service, a pet center, and a bike …

October 10, 2018

Loans Multifamily New York Northeast

Naftali Credit Partners Secures $50M Construction Loan for Condominium Project in Harlem

by David Cohen October 9, 2018

NEW YORK CITY — Naftali Credit Partners has secured a $50 million construction loan for 145 Central Park North in Manhattan’s Harlem neighborhood. The 13-story condominium project will feature 37 units. Amenities will include a 24-hour doorman, 10 parking spaces, multiple roof terraces, storage and bicycle rooms and a fitness center. Naftali secured financing for an undisclosed borrower through lender Israel Discount Bank. Architectural firm Gluck+ is designing the building.

October 9, 2018

Development Mixed-Use Texas

Developer to Build 297-Acre Mixed-Use Project in Princeton, Texas

by Taylor Williams October 9, 2018

PRINCETON, TEXAS — Developer International Capital LLC will build Princeton Crossroads, a 297-acre mixed-use project that will be located in Princeton, a city northeast of Dallas in Collin County. Preliminary plans for the project include 166 townhomes and a grocery-anchored retail center. Princeton Crossroads is also fully entitled for 624 multifamily units. The groundbreaking is scheduled for Wednesday, Dec. 12. Dallas-based Range Realty Advisors is marketing the project.

October 9, 2018

Acquisitions Multifamily Texas

CEG Multifamily Sells 224-Unit Apartment Community in Temple, Texas

by Taylor Williams October 9, 2018

TEMPLE, TEXAS — San Diego-based investment firm CEG Multifamily LLC has sold Retreat at Western Hills, a 224-unit multifamily community located in the Central Texas city of Temple. The property features a pool, fitness center, clothing care center and a resident clubhouse. Zar Haro and David Fersing of JLL represented CEG Multifamily in the sale. The buyer was Prasiti Asset Manager LLC, which acquired the property for an undisclosed price.

October 9, 2018

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Arranges Sale of 22,738 SF Industrial Property in Houston

by Taylor Williams October 9, 2018

HOUSTON — Lee & Associates has arranged the sale of a 22,738-square-foot industrial property located at 5999 W. 34th St. in Houston. Chase Cribbs and Justin Cole of Lee & Associates represented the undisclosed buyer in the transaction. Joshua Lass-Sughrue and Jason Ridenbaugh of NAI Partners represented the seller, 600 Southwest Military Ltd.

October 9, 2018

Affordable Housing Loans Multifamily Texas

Hunt Capital Closes $11.9M in Construction Financing for Affordable Housing Project in Fort Worth

by Taylor Williams October 9, 2018

FORT WORTH, TEXAS — Hunt Capital Partners has closed an $11.9 million in LIHTC equity financing for the construction of The Vineyard on Lancaster, a 104-unit apartment project in Fort Worth. The property, which is expected to be complete by late 2019, will include commercial space for a medical clinic. The sponsor was Union Gospel Mission of Tarrant County, a Christian nonprofit organization.

October 9, 2018

Acquisitions Retail Texas

Marcus & Millichap Brokers Sale of 16,760 SF Retail Asset in Fort Worth

by Taylor Williams October 9, 2018

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Park Vista Retail, a 16,760-square-foot retail asset in Fort Worth. Joe Santelli and Matthew Sheard of Marcus & Millichap represented the seller a private investor, in the transaction. The duo also procured the buyer, another private investor. Both parties requested anonymity.

October 9, 2018

Acquisitions Connecticut Northeast Retail

Brokers+Engineers Arranges $6.9M Sale of Retail Property in Darien Connecticut

by David Cohen October 9, 2018

DARIEN, CONN. — Brokers+Engineers has arranged the $6.9 million sale of a retail property in Darien. Located at 55 Boston Post Road, the 4,380-square-foot property is currently leased to TD Bank. Brokers+Engineers represented the seller, Chimblo Family Real Estate, in the transaction. The buyer acquired the property as part of a 1031 exchange. TD Bank has seven years remaining on its current lease.

October 9, 2018

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