Property Type

Edgewater-Hotel-&-Casino-Resort-Laughlin-Nevada

Golden Entertainment to Acquire Two Casino Resorts in Nevada for More Than $168M

by Taylor Williams July 16, 2018

LAUGHLIN, NEV. — Golden Entertainment Inc. (NASDAQ: GDEN), an owner-operator of casino resorts, has agreed to acquire two properties in Nevada for more than $168 million. Golden will acquire Edgewater Hotel & Casino Resort and Colorado Belle Hotel & Casino Resort, both of which are located about 100 miles south of Las Vegas in Laughlin. The seller is Marnell Gaming LLC, which is also based in Nevada. The deal is expected to close during the first quarter of 2019. Combined, Edgewater Hotel & Casino Resort and Colorado Belle Hotel & Casino Resort feature more than 1,400 slot machines, 40 table games and 2,150 hotel rooms. The casino resorts also offer 11 restaurants and dedicated entertainment venues, including the 12,000-seat Laughlin Event Center. The properties are situated adjacent to Aquarius Casino Resort, an asset owned by Golden Entertainment that features 1,200 slot machines, 30-plus game tables and roughly 2,000 hotel rooms. “Over the past several years, Marnell Gaming has taken their expertise and created a significant hotel, casino and entertainment presence in Laughlin,” says Blake Sartini, chairman and CEO of Golden Entertainment. “We are excited to solidify our presence in this growing and attractive game market.” The exact sales price has …

July 16, 2018

Development Multifamily Seniors Housing Texas

Tradition Breaks Ground on 23-Story Seniors Housing Property in Houston

by Taylor Williams July 16, 2018

HOUSTON — Tradition Senior Living has broken ground on The Tradition-Woodway, a 23-story seniors housing property that will be located in the Tanglewood area of Houston. The community will feature 222 independent living residences and 92 assisted living/memory care units. Amenities will include lounges and card rooms, a movie theater, indoor golf simulator, indoor pool, fitness center, dog park and a putting green. Jackson & Ryan Architects is handling design of the project and D.E. Harvey Builders is serving as general contractor. The opening is scheduled for April 2020.

July 16, 2018

Development Multifamily Texas

Fein to Develop 304-Unit Apartment Community in Houston’s Post Oak Submarket

by Taylor Williams July 16, 2018

HOUSTON — Fein, a Houston-based multifamily development firm, has acquired 3.3 acres for the development of Reverie at River Hollow, a 304-unit apartment community that will be located in the Post Oak area of Houston. Designed by Steinberg Dickey Collaborative, the property will feature one-, two- and three-bedroom units ranging in size from 558 to 1,966 square feet. Amenities will include a pool, rooftop clubhouse, fitness center, pet spa and a bike shop. The groundbreaking is slated for August and completion is scheduled for the fourth quarter of 2020. Simmi Jaggi and Elizabeth Clampitt of JLL represented the seller in the land sale. Chris Bergmann, also of JLL, represented Fein in that transaction.

July 16, 2018

Development Industrial Texas

E.E. Reed Completes 130,000 SF Distribution Center in Metro Houston

by Taylor Williams July 16, 2018

MONT BELVIEU, TEXAS — E.E. Reed Construction has completed a 130,000-square-foot distribution center for Wismer Distributing, which specializes in the delivery of alcoholic beverages, in Mont Belvieu, about 30 miles east of Houston. The property consists of 100,000 square feet of warehouse/distribution space and 30,000 square feet of office space. E.E. Reed worked in conjunction with Houston-based Tramonte + Johnson on the design/build project.

July 16, 2018

Loans Multifamily Texas

NorthMarq Arranges $11.4M in Acquisition Financing for Lubbock Apartments

by Taylor Williams July 16, 2018

LUBBOCK, TEXAS — NorthMarq Capital has arranged $11.4 million in acquisition financing for Metropolitan Apartments, a 236-unit multifamily community in Lubbock. The property is located at 6402 Albany Ave. near South Plains Mall, about six miles from Texas Tech University. Carl Pankratz of NorthMarq Capital arranged the financing on behalf of the borrower, EBG Acquisitions, a Plano-based multifamily investment firm. The transaction was structured with a bridge loan.

July 16, 2018

Acquisitions Industrial Texas

Silicon Valley Investment Firm Acquires 460,000 SF Industrial Portfolio in Houston

by Taylor Williams July 16, 2018

HOUSTON — Wilson Investment Properties, a Silicon Valley-based investment firm, has acquired a portfolio of 19 industrial properties totaling approximately 460,000 square feet in northwest Houston. The properties are situated within six different industrial parks and are leased to a total of 103 tenants, including users in the manufacturing and fabrication services. The seller was not disclosed.

July 16, 2018

Acquisitions Multifamily North Carolina Southeast

Dominion Realty Sells Newly Built Apartment Community in Uptown Charlotte for $68.8M

by Camren Skelton July 16, 2018

CHARLOTTE, N.C. — Dominion Realty Partners (DRP) has sold Centric Gateway, a 297-unit apartment community located at 1010 W. Trade St. in Uptown Charlotte. An affiliate of TH Real Estate acquired the property for $68.8 million. Justin Good, Allan Lynch and Jeff Glen of HFF arranged the transaction on behalf of DRP, which completed construction on the property in December 2017. Individual units feature quartz countertops, private balconies, exterior storage and keyless entry. Community amenities include a central courtyard with a saltwater pool, activity lawn, automated package delivery system, fitness center with an interactive studio and a game room. Centric Gateway was 43 percent occupied at the time of sale.

July 16, 2018

Loans Multifamily North Carolina Southeast

Hunt Mortgage Provides $65M Freddie Mac Acquisition Financing for Two Triangle Multifamily Assets

by Camren Skelton July 16, 2018

RALEIGH AND DURHAM, N.C. — Hunt Mortgage Group has provided two Freddie Mac loans totaling $65 million for the acquisition of two multifamily properties in North Carolina’s Triangle region. The borrower is a joint venture between an equity investor and American Landmark. Chicago-based Livcor sold the assets, according to local media reports. In Raleigh, Hunt Mortgage provided a $30.1 million, seven-year loan for Edinborough Commons, a 312-unit community that was completed in 1997. The new owner plans to invest an additional $2.2 million in improvements over the next few years. The community features resort-style pools, a spa area, gas grill stations, fitness center, dog park, sand volleyball court, car wash station, clothes care center and two tennis courts. In Durham, Hunt Mortgage provided a $34.9 million, seven-year loan for the acquisition of Edinborough at the Park. The 330-unit community features a concierge, package/grocery/dry cleaning reception, two resort-style pools, heated indoor lap pool, business center, fitness center, dog park with agility stations, car wash station and a tennis court. The new owner will invest $2.3 million to upgrade the property.

July 16, 2018

Development Multifamily Retail Southeast Virginia

Skanska Acquires 94,000 SF Site in Metro D.C. for New Retail, Multifamily Development

by Camren Skelton July 16, 2018

TYSONS, VA. — Skanska USA has acquired a 94,000-square-foot site in Tysons for a new multifamily and retail development. Richard Siegel, Wendy Feldman Block and Bill Quinby of Savills Studley arranged the transaction on behalf of Skanska. The development company acquired the site within the mixed-use district of Scotts Run from master developer Cityline Partners. At full build-out, Scotts Run will span 8 million square feet and house offices, apartments, hotels, retail and restaurants. The land Skanska acquired is located across the street from the McLean Silver Line Metro station. The company is scheduled to break ground on the unnamed multifamily/retail development in 2019, with completion slated for 2022.

July 16, 2018

Development Florida Hospitality Southeast

Hilton, Epelboim Break Ground on 259-Room Tru Hotel in Orlando

by Camren Skelton July 16, 2018

ORLANDO, FLA. — Hilton Hotels, in partnership with Epelboim Development Group, has broken ground on a new Tru by Hilton property in Orlando. The 259-room, eight-story hotel is located along Westwood Boulevard and will be the largest Tru property to date upon completion in the fourth quarter of 2019. Tru by Hilton hotels feature 24/7 markets, workspaces, game rooms, fitness centers, complimentary breakfast and digital keys. Epelboim is currently in the final stages of building an EVEN hotel in Miami, and is developing two EVEN hotels in Georgia.

July 16, 2018

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