ANGLETON, TEXAS — Locally based investment firm Angleton Realty has purchased approximately 50 acres in Angleton, located south of Houston, for the development of a new RV park and commercial space. Details on the commercial component, as well as an overall construction timeline, were not disclosed. Kirk Laguarta, Duane Heckmann and Nate Jackson of Land Advisors Organization represented the seller, an entity doing business as Rancho Isabella LLC, in the transaction. Darbe Gosda of CBRE represented Angleton Realty.
HOUSTON — Ezee Fiber has signed a 94,179-square-foot office headquarters lease in southwest Houston. The internet service provider is consolidating its local operations within Houston Technology Center, a 300,000-square-foot complex located at 5959 Corporate Drive. The property offers amenities such as an onsite restaurant, conference rooms and a fitness center. Michelle Wogan and Paula Musa of Transwestern represented the landlord, Dallas-based Prescott Group, in the lease negotiations. The tenant was self-represented.
MCKINNEY, TEXAS — Cushman & Wakefield has arranged the sale of a 17,550-square-foot office building in the northern Dallas suburb of McKinney. The building at 230 E. Hunt St. was originally constructed in 2015, according to LoopNet Inc. Ryan Hoopes and Johnny Johnson of Cushman & Wakefield represented the buyer, Morrow Renewables, which is also a tenant at the building, in the transaction. The seller was an entity doing business as Tynas Texas LP.
BOSTON — Tremont Realty Capital, a division of locally based investment firm RMR Group, has provided a $45 million bridge loan for the acquisition of the 178-room Club Quarters Hotel in Boston. The hotel is located at 161 Devonshire St. in the downtown area and offers a mix of traditional guestrooms and suites, as well as meeting and event space and onsite dining options. JLL arranged the loan, which carries a floating interest rate and a three-year initial term with two one-year extension options, on behalf of the borrower, an entity doing business as Arch & Devonshire LLC.
NEW PROVIDENCE, N.J. — New Jersey-based developer Garden Communities is nearing completion of Providence Place, a 192-unit multifamily project located about 30 miles west of Manhattan in New Providence. Providence Place will feature two- and three-bedroom townhome-style apartments with private garages and driveways. Amenities at the 27-acre property will include a resident clubhouse and an outdoor pool, among others. Full completion is slated for this spring.
HUDSON, MASS. — CBRE has brokered the sale of a 176-unit apartment complex in Hudson, a western suburb of Boston. Matrix Hudson is a five-building property that was completed in 2017. Units come in one- and two-bedroom floor plans and feature an average size of 1,006 square feet. Amenities include a clubroom, fitness center and a business center. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, an affiliate of The Claremont Cos., in the transaction. The team also procured the buyer, a fund backed by Zurich Alternative Asset Management.
COCOA BEACH, FLA. — Bayview PACE has provided $137 million in C-PACE financing for the development of Westin Cocoa Beach Resort & Spa, a $420 million hospitality development located at 100 N. Atlantic Ave. in Cocoa Beach. Coral Gables, Fla.-based Driftwood Capital is the borrower and developer behind the 502-room development, which is slated to open in early 2027. In addition to the C-PACE loan, Driftwood Capital obtained $70 million in construction financing from City National Bank of Florida and a $50 million credit facility from Amerant Bank, bringing the new capital infusion to a combined $257 million. Construction is currently underway on the Marriott-branded project, which will feature 11 food-and-beverage venues and 123,700 square feet of indoor/outdoor meeting space in addition to the hotel rooms and wellness features. The transaction represents the largest C-PACE deal in Florida and the third-largest hospitality C-PACE loan in the United States, according to Bayview PACE. Commercial property assessed clean energy financing (C-PACE) has become a viable financing method for developers as the loan becomes an assessment that borrowers pay with their tax bill. These loans also pay for energy and water upgrades in new construction and rehabilitation projects, including retroactively.
THOUSAND OAKS, CALIF. — Marathon Asset Management has provided a $164 million mortgage loan for the acquisition of The Oaks, a shopping mall located in Thousand Oaks, roughly 38 miles west of Los Angeles. Stockdale Capital Partners was the borrower. Nordstrom, Dick’s Sporting Goods and AMC Theatres anchor the 1.2 million-square-foot property, which is situated on 85 acres. Other tenants at the center include Apple, Anthropologie, Zara, H&M and Arhaus. Joseph Griffin of Marathon originated the loan. Greg Stampley and Jessica Henning of Eastdil Secured arranged the financing on behalf of Stockdale.
THE VILLAGES AND WINTER PARK, FLA. — Titan Development has sold a portfolio of three seniors housing communities in Central Florida. The properties include Watercrest Buena Vista and Watercrest Spanish Springs in The Villages and Watercrest Winter Park in Winter Park. AEW Capital Management acquired the 416-unit portfolio for an undisclosed price. JLL represented Titan in the sale. Additionally, JLL is arranging acquisition financing for two of the properties on behalf of the buyer. Built in 2018, Watercrest Buena Vista features 224 residences, with 118 independent living, 74 assisted living and 32 memory care units. Amenities at the community include underground parking, a heated pool, fitness center, salon, media room, bistro and bar and a golf cart charging station. Watercrest Spanish Springs, which opened in 2016, comprises 86 assisted living and memory care units. Amenities at the property include restaurant-style dining, gathering areas, salon services and wellness and exercise programs. Built in 2019, Watercrest Winter Park is an assisted living and memory community that totals 106 units. AEW Capital Management will retain the current, third-party operator of the properties, Watercrest Senior Living.
IRVINE, CALIF. — CBRE IM has completed the disposition of 2600 Michelson Drive, a 16-story office building in Irvine, to a Southern California-based private investor for $42 million. Anthony DeLorenzo, Todd Tydlaska, Sean Sullivan, Sammy Cemo, Bryan Johnson and Grant Goldman of CBRE Investment Properties represented the seller in the deal. Located on 4.6 acres in the Greater Airport submarket of Orange County, Calif., the 310,925-square-foot office property includes an adjacent five-level parking structure with 1,013 spaces. Built in 1986, the property has undergone extensive renovations. The asset features a two-story lobby and mezzanine, car charging stations, a conferencing facility, fitness center and MJ’s Café Irvine. Additionally, the building offers immediate access to Interstate 405 and State Routes 55 and 73. This year, the Jamboree-Michelson Pedestrian Bridge will be completed, connecting the building with walkable retail, residential and hospitality amenities.