Property Type

Nicholas Residential Acquires 2,115-Unit Multifamily Portfolio in Houston Area

by Taylor Williams November 28, 2018

HOUSTON — Dallas-based investment firm Nicholas Residential LLC has acquired a portfolio of six multifamily properties totaling 2,115 units in the Houston area. The properties include Chelsea Park and Riviera Pines in Houston, South Grand at Pecan Grove and Country Club Place in the northern suburb of Richmond, The Veridian in Webster and Skyhawk in Friendswood. Nicholas Residential will implement value-add programs to the communities’ amenity spaces, delivering new fitness centers, as well as upgraded resident clubhouses with coffee bars, pools with outdoor kitchens, dog parks, business centers and game rooms. The seller was Hudson Advisors. Cushman & Wakefield arranged an undisclosed amount of equity on behalf of Nicholas Residential for the acquisition.

November 28, 2018

Acquisitions Data Centers Industrial Texas

H5 Data Centers Buys 85,000 SF Colocation Center in San Antonio for $19.5M

by Taylor Williams November 28, 2018

SAN ANTONIO — H5 Data Centers, a Denver-based data center operator, has purchased an 85,000-square-foot colocation center located at 100 Taylor St. in San Antonio for $19.5 million. ISP Taylor Telecom previously owned the facility, which is located a block away from AT&T’s regional office. H5 plans to redevelop the property and is in the process of adding more colocation racks. Chris Orr of North Carolina-based Romans Properties represented H5 Data Centers in the deal.

November 28, 2018

Leasing Activity Office Texas

ATM Operator Expands to 82,000 SF Office Space in Frisco

by Taylor Williams November 28, 2018

FRISCO, TEXAS — Cardtronics, an operator of ATM machines and financial kiosk services, has expanded its presence by 46,000 square feet at HALL Park in Frisco. The company now occupies 82,000 square feet at 3201 Dallas Parkway, HALL Group’s newest development. Garrold Parratt, Greg Biggs and Kimarie Ankenbrand of JLL represented Cardtronics in the lease negotiations. Kim Butler, Brad Gibson and Cynthia Cowen represented HALL Group internally.

November 28, 2018

Industrial Leasing Activity Texas

Goodwill Signs 30,720 SF Industrial Lease in North Austin

by Taylor Williams November 28, 2018

AUSTIN, TEXAS — Goodwill Central Texas has signed a 30,720-square-foot industrial lease at 1309 Rutherford Lane in Austin. The nonprofit organization’s new warehouse space is located within Global Business Park on the city’s north side. Ace Schlameus of JLL represented the landlord in the lease negotiations. Bill Russell, also of JLL, represented Goodwill. A timeline for occupancy of the new space was not released.

November 28, 2018

Industrial Leasing Activity Texas

NAI Partners Negotiates 21,043 SF Industrial Lease in Houston

by Taylor Williams November 28, 2018

HOUSTON — NAI Partners has negotiated a 21,043-square-foot industrial lease at 6633 Lindbergh St. in Houston. Chris Caudill and Jake Wilkinson of NAI Partners represented the landlord, R. Pennington Investments LP, in the lease negotiations. Jeff Peltier and Barrett Gibson of Colliers International represented the tenant, Henek Fluid Purity Systems Inc., an oil field equipment supplier.

November 28, 2018

Acquisitions Florida Georgia Multifamily North Carolina Property Type South Carolina Southeast Top Stories

Carroll Organization, PGIM Acquire $600M, 13-Property Multifamily Portfolio in Southeast

by David Cohen November 28, 2018

ATLANTA — Carroll Organization and PGIM Real Estate have acquired three multifamily portfolios in the metro areas of Raleigh-Durham, N.C.; Ponte Vedra Beach, Fla.; and Charleston, S.C. valued at $600 million. The combined properties total 4,043 residential units. The three acquisitions by the joint venture include an eight-property, 2,883-unit portfolio in Raleigh-Durham; a two-property, 480-unit portfolio in Ponte Vedra Beach; and a three-property, 680-unit portfolio in Charleston. The sellers and price were not disclosed. “These latest portfolio acquisitions are consistent with PGIM Real Estate’s strategy to pursue workforce housing investments in well-located, pro-business metropolitan markets with a limited supply of apartments and a robust demand for affordable housing options,” said Alfonso Munk, Americas chief investment officer for PGIM Real Estate. “Our ongoing partnership with Carroll Organization will enable us to create an enhanced living experience for the residents at these 13 communities, while delivering compelling, supply-resistant investment opportunities to our investors.” The acquisitions were led by Jim Mehalso, Atlanta-based managing director and head of Southeast Transactions at PGIM Real Estate, and Josh Champion, president and chief investment officer for Atlanta-based Carroll Organization. The transactions mark the fifth joint venture between PGIM Real Estate and Carroll Organization since December 2017. To …

November 28, 2018

Development District of Columbia Mixed-Use Southeast

Former Fannie Mae Headquarters to Get New Life with $640M Mixed-Use Redevelopment

by Alex Tostado November 27, 2018

WASHINGTON, D.C. — Roadside Development and North America Sekisui House LLC (NASH) have announced that the redevelopment of Fannie Mae’s former headquarters in Washington, D.C. will be named City Ridge. The name originates from the site’s location on Wisconsin Avenue, a geological ridgeline that separates the two stream valleys of Rock Creek Park to the east and Foundry Branch to the west. The $640 million, 1.1 million-square-foot project will break ground Dec. 1. The site sits on 10 acres and is set to include 687 residential units and 100,000 square feet of office space in the historic building, plus 62,000 square feet of new office space, 153,000 square feet of retail space and more than 750 parking spaces. Grocery store chain Wegmans Food Markets will anchor City Ridge.

November 27, 2018

Development Industrial South Carolina Southeast

Miller-Valentine Construction Finishes Midway Logistics III in South Carolina

by Alex Tostado November 27, 2018

WEST COLUMBIA, S.C. — Miller-Valentine Construction has completed Midway Logistics III, a 200,000-square-foot speculative building in the Lexington County Industrial Park (LCIP) in West Columbia. The building is designed for multi-tenant, Class A distribution and light manufacturing. The facility, developed by Magnus Development Partners, features 21 dock doors, two drive-ins and entries for tenant offices. It was designed to allow for a shared dock truck court to support a future distribution facility on the adjacent lot. LCIP sits on 350 acres and is home to Midway Logistics I and II, Husqvarna, JanPak, Home Depot, Republic National Distributing Co., Scholastic Book Fairs and Garden State Lumber Corp.

November 27, 2018

Acquisitions Florida Industrial Southeast

Terreno Realty Sells 25,000 SF Industrial Property in Miami for $4.3M

by Alex Tostado November 27, 2018

MIAMI — Terreno Realty Corp. has sold an industrial property in Miami to an undisclosed buyer for $4.3 million. The property consists of one light industrial building totaling approximately 25,000 square feet on 1.2 acres, which was fully leased at the time of the sale to one tenant on a short-term basis.

November 27, 2018

Acquisitions Affordable Housing Massachusetts Multifamily Northeast

MassHousing Provides $45.7M Acquisition Loan for Affordable Housing Portfolio in Metro Boston

by David Cohen November 27, 2018

BOSTON — MassHousing has provided $45.7 million in acquisition and rehabilitation financing for a 201-unit affordable housing portfolio in Roxbury and Dorchester. The housing portfolio, formerly owned by the late Lorenzo Pitts, includes the Lawrenceville Apartments, Infill I, Infill II, Crawford House, Thane Street Apartments and the Gardner Apartments. MassHousing provided the borrower, Jamaica Plain Neighborhood Development Corporation (JPNDC), with a $26 million construction and permanent loan, an $18 million tax credit equity bridge loan and a $1.7 million Section 13A preservation loan. JPNDC will make extensive capital improvements as part of the transaction including masonry repairs, kitchen upgrades and bathroom upgrades, as well as updates to the electrical and plumbing systems. Of the 201 units in the portfolio, 175 are affordable to households earning at or below 60 percent of the area median income (AMI) and 26 apartments are affordable to households earning at or below 80 percent of AMI. The AMI for Boston is $107,800 for a family of four.

November 27, 2018

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