Property Type

Sage Management Acquires Apartment Community in Suburban Maryland for $119M

by Alex Tostado May 3, 2019

LAUREL, MD. — Sage Management has acquired the 484-unit Modera Westside Apartments in Laurel, according to CBRE, which arranged the sale. Dallas-based developer Mill Creek Residential sold the property for $119 million, or $245,868 per unit. Modera Westside is situated 20 miles northeast of downtown Washington, D.C., and 20 miles southwest of downtown Baltimore. The asset offers one-, two- and three-bedroom floor plans, as well as a clubhouse with a coffee bar, business lounge, swimming pool, game room, fireside lounge, pet spa, jogging trail and barbecue grills.

May 3, 2019

Acquisitions Georgia Industrial Southeast

Americold Acquires Georgia-Based Lanier Cold Storage for $82M, Adds 14 Million Cubic Feet to Portfolio

by Alex Tostado May 3, 2019

ATLANTA — Americold Realty Trust has acquired Lanier Cold Storage for $82 million. Lanier Cold Storage has two temperature-controlled facilities northeast of Atlanta along Interstate 985. The two facilities total 14 million refrigerated cubic feet and have 51,000 pallet positions. The assets are designed to serve poultry and other products to markets across the country. According to GeorgiaInfo, an online almanac, the poultry industry contributes more than $18.4 billion to the state’s economy each year. Atlanta-based Americold currently has a 3.8 million-cubic-foot facility in Gainesville, one of its 155 temperature-controlled warehouses in the United States, Australia, New Zealand, Canada and Argentina.

May 3, 2019

Loans Multifamily Southeast Tennessee

KeyBank Provides $79.9M Refinancing Loan for Apartment Complex in Metro Nashville

by Alex Tostado May 3, 2019

MURFREESBORO, TENN. — KeyBank Real Estate Capital has provided a $79.9 million refinancing loan for LC Murfreesboro, a 580-unit apartment community in Murfreesboro, about 34 miles southwest of Nashville. The Freddie Mac loan features a fixed interest rate with an 11-year term, five years of interest-only payments and a 30-year amortization schedule. Built in phases between 2015 and 2018, LC Murfreesboro comprises19 three-story buildings offering one- and two-bedroom floor plans. Amenities include green spaces, a fitness center and a swimming pool. Jon Reible of KeyBank originated the loan on behalf of the borrower, Columbus, Ohio-based Lifestyle Communities to refinance existing debt.

May 3, 2019

Development Multifamily Seniors Housing Southeast Virginia

Sunrise Senior Living Starts Redevelopment Project Near D.C.

by Alex Tostado May 3, 2019

ALEXANDRIA, VA. — Sunrise Senior Living has completed demolition of the former National Association of Professional Insurance Agents buildings in the Old Town neighborhood of Alexandria, with plans to build a 93-unit assisted living property on the land. Located south of Washington, D.C. along the Potomac River, this will be Sunrise’s second community in Alexandria. Rust | Orling Architecture is designing the project. SunTrust Bank provided a $45.5 million loan to finance the construction.

May 3, 2019

Development Georgia Industrial Southeast

Savannah’s Industrial Market, Port Among Fastest Growing in Nation, Says Local Economic Development Head

by John Nelson May 3, 2019

SAVANNAH, GA. — The Port of Savannah and the surrounding industrial market are both growing exponentially. That trend was reinforced with the $172 million investment announced last week by Plastic Express to build two new manufacturing facilities in nearby Pooler. “They’re going to export plastic resins out of our port to the tune of 100,000 TEUs (twenty-foot equivalent units) per year,” said Hugh “Trip” Tollison, president and CEO of Savannah Economic Development Authority (SEDA). “Plastic Express has instantaneously become one of the port’s largest customers.” Tollison was one of the featured speakers at a luncheon hosted by SEDA on Wednesday, May 1 at 5Church restaurant in Midtown Atlanta’s Colony Square. The event brought together several of Savannah’s top businesses, including Savannah Bourbon, Visit Tybee Island, Georgia Grown, The Salt Table and Leopold’s Ice Cream, which is turning 100 years old this year. Tollison highlighted many economic drivers in the Savannah region, including aerospace giant Gulfstream Aerospace Corp. hiring its 12,000th employee; healthcare system St. Joseph’s/Candler opening a new hospital in Pooler last month; and the film industry that last year doubled its 2017 economic spend thanks to productions of films like the upcoming “Gemini Man” starring Will Smith. The straw …

May 3, 2019

Development Hospitality Multifamily Texas

HALL Group Tops Out 28-Story Hotel, Residential Project in Dallas Arts District

by Taylor Williams May 3, 2019

DALLAS — Locally based developer HALL Group has topped out HALL Arts Hotel & Residences, a 28-story commercial project in the Dallas Arts District. The project’s residential component will consist of 50 units ranging in size from 1,600 square feet to 10,000 square feet for the penthouse. The hospitality component will comprise 183 guestrooms and 20 suites, along with various amenities. The residential and hotel components are slated to open in early 2020 and fall 2019, respectively.

May 3, 2019

Acquisitions Multifamily Texas

NKF Arranges Sale of 326-Unit Apartment Community in Austin’s Rainey Street District

by Taylor Williams May 3, 2019

AUSTIN, TEXAS — Newmark Knight Frank (NKF) has arranged the sale of The Millennium Rainey, a 326-unit multifamily community located at 91 Rainey St. in Austin. Units at the eight-story property, which was built in 2016, feature 10- to 12-foot ceilings, open kitchens and energy-efficient appliances. Amenities include a rooftop pool that overlooks downtown Austin, a fitness center and proximity to a variety of walkable retail and restaurant options. Patton Jones of NKF represented the seller, Houston-based The Dinerstein Cos., in the sale. The buyer was Camden Property Trust, a publicly traded REIT also based in Houston.

May 3, 2019

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 241,427 SF Industrial Park in Northwest Houston

by Taylor Williams May 3, 2019

HOUSTON — Marcus & Millichap has brokered the sale of Hollister Business Park, a 241,427-square-foot industrial development in northwest Houston. The asset, which had a listing price of approximately $9.4 million, offers proximity to Beltway 8 and includes office space. Thomas Costello of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Other terms of sale were not disclosed.

May 3, 2019

Leasing Activity Office Texas

Wells Fargo Signs 88,520 SF Office Lease Renewal in Metro Fort Worth

by Taylor Williams May 3, 2019

WESTLAKE, TEXAS — Wells Fargo Bank has signed an 88,520-square-foot office lease renewal at Plaza @ Solana, located at 1301 Solana Blvd. in Westlake, a northern suburb of Fort Worth. Trey Smith, John Fancher and Christy Thelen of Cushman & Wakefield represented the landlord, Harbert Management Corp., in the lease negotiations. Ken Page and Alan Harrington of Transwestern represented Wells Fargo.

May 3, 2019

Acquisitions Office Texas

Paragon Development, Worldwide Commercial Acquire 57,000 SF Office Building in Plano

by Taylor Williams May 3, 2019

PLANO, TEXAS —A partnership between Paragon Development and Worldwide Commercial has acquired a 57,000-square-foot office building located at 5501 Independence Parkway in Plano, a northeastern suburb of Dallas. The property includes both traditional office and medical office space. Chris Castillo, Erin Leibfarth and Jerad Rector of Worldwide Commercial represented the buyer in the transaction.

May 3, 2019

Newer Posts

Older Posts