Property Type

Marcus & Millichap Brokers Sale of Two Mixed-Use Buildings in Brooklyn for $18.7M

by David Cohen July 20, 2018

NEW YORK CITY — Marcus & Millichap has brokered the $18.7 million sale of two mixed-use properties in Brooklyn located at 984-994 Winthrop St. and 4512-4524 Church Ave. Matt Fotis, Matt Shapiro and Tyler Workman of Marcus & Millichap represented the seller, Renaissance Realty Associates, in the transaction. The Bauta Family purchased both properties. The first property, 984-994 Winthrop St., is a four-story building consisting of five retail units and 39 residential units. The second, 4512-4524 Church Ave., is a six-story building consisting of eight retail units and 50 residential units.

July 20, 2018

Loans Massachusetts Multifamily Northeast Seniors Housing

Capital One Provides $47.2M HUD Refinancing for Three Skilled Nursing Facilities in Massachusetts

by David Cohen July 20, 2018

CHELSEA, FALL RIVER, BROCKTON, MASS. — Capital One has provided $47.2 million to refinance a portfolio of skilled nursing facilities in Massachusetts. The three facilities have a combined 512 beds and were purchased as part of a four-facility portfolio in 2016. The properties are Eastpointe Rehabilitation and Skilled Care Center in Chelsea with 195 beds, Southpointe Rehabilitation and Skilled Care Center in Fall River with 152 beds, and Baypointe Rehabilitation and Skilled Care Center in Brockton with 169 beds. Although the borrower was not disclosed, the properties are all listed on the website of The Pointe Group. Joshua Rosen of Capital One originated the transaction. The three HUD loans feature fixed rates and 35-year terms.

July 20, 2018

Healthcare Leasing Activity Massachusetts Northeast

Davis Cos. Arranges 48,700 SF Lease for Pharmaceutical Company at Alewife Research Center in Cambridge

by David Cohen July 20, 2018

CAMBRIDGE, MASS. — The Davis Cos. has arranged a 48,700-square-foot lease for Japanese pharmaceutical conglomerate Eisai Inc. at the Alewife Research Center in Cambridge. Eisai will relocate from its current site in Andover in the first quarter of 2019. Developed by The Davis Cos., the Alewife Research Center is a LEED Silver-certified, 224,000-square-foot laboratory building with ground-floor retail. Located at 35 Cambridgepark Drive, the five-story facility is scheduled for completion by Oct. 1, 2018.

July 20, 2018

Acquisitions Mixed-Use New York Northeast

TerraCRG Negotiates Sale of Mixed-Use Portfolio in Brooklyn for $8.5M

by David Cohen July 20, 2018

NEW YORK CITY — TerraCRG has negotiated the $8.5 million sale of a mixed-use portfolio in the Bushwick neighborhood of Brooklyn. The three adjacent properties are located at 373, 375 and 379 Knickerbocker Ave. and total 16,390 square feet, featuring three ground-level retail stores and four residential apartments. The properties also have approximately 8,900 square feet of additional buildable square footage. TerraCRG represented the sellers, Beth and Sue Kneller, in the transaction. Keller Williams Realty Gold Coast represented the buyers, Karthik Gujja and Gopi Punukollu. Long-term tenants currently occupy all three retail stores.

July 20, 2018

Acquisitions Hospitality Northeast Rhode Island

MCR Acquires Hilton Garden Inn at T.F. Green International Airport in Rhode Island

by David Cohen July 20, 2018

WARWICK, R.I. — MCR Development has acquired the Hilton Garden Inn Providence Airport/Warwick in Warwick. The price was not disclosed. The 160-room hotel opened in 2005 and is located at Rhode Island’s T.F. Green International Airport, which serves 4 million passengers annually. Amenities at the hotel include a fitness center, indoor pool, 24-hour convenience store, free airport shuttle and a connection to the Iron Works Tavern, a community bar housed in the historic 1867 R.I. Malleable Iron Works Factory building. The seller was not disclosed.

July 20, 2018

Underwood-Port-Logistics-Center-Pasadena-Texas

Development Industrial Texas

Arch-Con Breaks Ground on 404,160 SF Distribution Center in Pasadena, Texas

by Taylor Williams July 20, 2018

PASADENA, TEXAS — Arch-Con Corp, a general contractor with offices in Houston and Dallas, has broken ground on Underwood Port Logistics Center, a 404,160-square-foot industrial asset near Port Houston in Pasadena. Developed by Triten Real Estate Partners and Carlyle Group, the property will feature 36-foot clear heights, clerestory windows, full dock packages at the overhead doors and proximity to both the Bayport and Barbours Cut Terminals.

July 20, 2018

Acquisitions Multifamily Texas

Transwestern Arranges Sale of 332-Unit Apartment Community in Dallas

by Taylor Williams July 20, 2018

DALLAS — Transwestern has arranged the sale of Highland Road Village, a 332-unit multifamily community located at 2704 S. Cockrell Hill Road in southwest Dallas. Built in 1965 and renovated in 2000, the property features one-, two- and three-bedroom units ranging in size from 418 to 1,222 square feet. Amenities include a soccer field, playground and access to nearby jogging trails. Taylor Snoddy, Philip Wiegand and James Roberts of Transwestern arranged the transaction on behalf of the seller, New York-based Code Capital Partners. The buyer was not disclosed.

July 20, 2018

Acquisitions Multifamily Texas

Napali Capital Acquires 187-Unit Apartment Property Near Dallas

by Taylor Williams July 20, 2018

DALLAS — Southlake, Texas-based Napali Capital LLC has acquired Westwood Apartments, a 187-unit multifamily property in Dallas, a northern suburb of Fort Worth. The community was built in 1969 and consists of one-, two- and three-bedroom units across 15 buildings. Amenities include a pool and on-site laundry services. Napali will invest approximately $400,000 in capital upgrades. The seller was not disclosed.

July 20, 2018

Development Healthcare Texas

Wile Interests to Develop 70,000 SF Medical Office Building in Houston

by Taylor Williams July 20, 2018

HOUSTON — Houston-based Wile Interests has announced plans to develop Medical Plaza West, a 70,000-square-foot medical office building in Houston. The Class A property will be part of the Katy Green mixed-use development on the city’s west side. Construction is scheduled to begin during the first quarter of 2019. CBRE will handle leasing of the property.

July 20, 2018

Leasing Activity Office Texas

Accounting Firm Signs 45,872 SF Office Lease in Fort Worth

by Taylor Williams July 20, 2018

FORT WORTH, TEXAS — Accounting firm Whitley Penn has signed a 45,872-square-foot office lease at the 25-story Frost Tower in downtown Fort Worth. The property features high-speed elevators, floor-to-ceiling windows and a fitness center. Cannon Camp and Todd Burnette of JLL represented Whitley Penn in the lease negotiations. Seth Koschak and Tyler Maner of Stream Realty Partners represented the landlord, Anthracite Realty.

July 20, 2018

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