Property Type

Mast Capital Acquires Mixed-Use Shopping Center in Fort Lauderdale for $43M

by Alex Tostado April 5, 2019

FORT LAUDERDALE, FLA. — Mast Capital has acquired The Quay, a 73,000-square-foot mixed-use shopping center in Fort Lauderdale. The Quay sits on seven acres along South 17th Street near the Stranahan River, three miles south of downtown Fort Lauderdale. The asset was fully leased at the time of the sale to tenants including Boatyard Restaurant, the United States Postal Service and Chipotle Mexican Grill. The property also includes a two-story office building and Boathouse of Fort Lauderdale marina. Hudson Capital Group Inc. sold The Quay. CIT Bank provided acquisition financing, and Roberto Susi of Axiom Capital Advisors arranged the sale.

April 5, 2019

Acquisitions Georgia Retail Southeast

Cushman & Wakefield Arranges Sale of 199,594 SF Retail Center in Metro Atlanta

by Alex Tostado April 5, 2019

SUWANEE, GA. — Cushman & Wakefield has arranged the sale of Brookwood Marketplace, a 199,594-square-foot retail center in Suwanee shadow-anchored by Super Target. The property is located at 2615-2635 Peachtree Parkway, about 34 miles north of downtown Atlanta in Gwinnett County. Brookwood Marketplace was 98 percent leased at the time of the sale to tenants including The Home Depot, Bed Bath & Beyond and OfficeMax. Fain Hicks and Mark Gilbert of Cushman & Wakefield represented the seller, Weingarten Realty, in the transaction. A private individual acquired the asset for an undisclosed price.

April 5, 2019

Loans Mississippi Multifamily Southeast

Dougherty Mortgage Provides $20.7M Refinancing Loan for Apartment Community Near Memphis

by Alex Tostado April 5, 2019

OLIVE BRANCH, MISS. — Dougherty Mortgage LLC has provided a $20.7 million Fannie Mae refinancing loan for The Plantation Apartment Homes, a 336-unit community in Olive Branch. The 12-year loan features a 30-year amortization schedule. Plantation Apartment Group LP was the borrower. The Plantation Apartment Homes is situated about 24 miles southeast of downtown Memphis and offers community amenities such as a stocked fishing lake, swimming pool, fitness center, playground, two clubhouses and laundry facilities.

April 5, 2019

Alabama Leasing Activity Office Southeast

Georgia Tech Leases 38,000 SF of Office Space in Huntsville

by Alex Tostado April 5, 2019

HUNTSVILLE, ALA. — Georgia Tech Research Institute has leased 38,000 square feet of office space within Redstone Gateway, a 76,000-square-foot building in Huntsville being developed by Corporate Office Properties Trust, which will also serve as the landlord. Georgia Tech’s focus in Huntsville is aero-space related reasearch. Redstone Gateway is a research park near U.S. Army post Redstone Arsenal, which is home to the U.S. Army Aviation and Missile Command (AMCOM), major components of the Defense Intelligence Agency and the NASA‐ George C. Marshall Space Flight Center. Redstone Gateway is expected to open this fall. Georgia Tech will consolidate 70 employees from offices around Huntsville to the new location, with plans to further expand. Dale Lewis and Mark Rosenthal of CBRE and Russ Russell Real Estate represented Georgia Tech in the lease negotiations. The landlord was represented internally by James Lomax.

April 5, 2019

Development Multifamily Texas

Lang Partners Breaks Ground on $65M Multifamily Community in Fort Worth

by Taylor Williams April 5, 2019

FORT WORTH, TEXAS — Dallas-based development firm Lang Partners has broken ground on The Cooper, a $65 million multifamily project in Fort Worth. Located at 1001 W. Rosedale St., the property will consist of 390 units in one-, two- and three-bedroom formats. Units will range in size from 600 to 1,810 square feet and will feature 10- to 12-foot ceilings, walk-in closets and showers, private terraces, quartz countertops and platinum silver appliances. Communal amenities include a pool with private cabanas, outdoor grilling and lounge area, fitness center with a yoga studio, coffee bar, pet park, coworking office space and package lockers with cold storage and dry cleaning services. KWA Construction is the general contractor and GFF is the architect for the project, which is slated for an August 2020 completion.

April 5, 2019

Development Hospitality Texas

Partnership to Open 360-Room Margaritaville Resort in Conroe, Texas

by Taylor Williams April 5, 2019

CONROE, TEXAS — A partnership between Jimmy Buffett’s Margaritaville Holdings LLC, Atlanta-based Songy Highroads and Baton Rouge, La.-based The Wampold Cos. will open a 360-room Margaritaville Resort at Lake Conroe, about an hour north of Houston. The property, which will be the first Margaritaville-branded project in Texas, will be situated on a 186-acre site that is currently home to La Torretta Lake Resort & Spa. The development team will undertake a renovation project to convert two of the existing restaurants to signature Margaritaville dining concepts, and to refresh the golf course, tennis facilities, spa and outdoor pools. The opening is slated for the third quarter of 2020.

April 5, 2019

Development Office Texas

Kaizen Development Begins Work on 300,000 SF Office Project in Uptown Dallas

by Taylor Williams April 5, 2019

DALLAS — Kaizen Development Partners has begun demolition work on The Link at Uptown, a 300,000-square-foot office project located at 2601 Olive St. in Uptown Dallas. BOKA Powell and Balfour Beatty are respectively serving as the architect and general contractor for the 25-story building, which will be situated near a variety of retail and restaurant destinations. JLL is handling leasing and marketing of the property, which is expected to be complete in fall 2021. An investment fund managed by Goldman Sachs’ merchant banking division is providing project financing.

April 5, 2019

Acquisitions Multifamily Texas

Conti Organization Acquires 400-Unit Apartment Community in Metro Dallas

by Taylor Williams April 5, 2019

CARROLLTON, TEXAS — Conti Organization, a multifamily investment firm that owns approximately 7,800 units in the DFW metroplex, has acquired Dawntree Apartments, a 400-unit community in the northern Dallas suburb of Carrollton. Built in 1982 on 23 acres, the community features one- and two-bedroom units and amenities such as a pool, fitness center, tennis court, business center and a resident clubhouse. Conti purchased Dawntree Apartments from California-based Steadfast Income REIT and will rebrand the community as Bella Vista Apartments.

April 5, 2019

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 252-Unit Multifamily Property in Arlington

by Taylor Williams April 5, 2019

ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Garden Park, a 252-unit multifamily property in Arlington. The property, which was built in 1969 and renovated in 2014, offers one- and two-bedroom units. Al Silva and Ford Braly of Marcus & Millichap represented the seller, a locally based private investor, in the transaction. The buyer was a Texas-based investment group with a portfolio of 17,000 units nationwide.

April 5, 2019

Illinois Industrial Midwest Multifamily

Decennial Group Launches Targeted $1B Opportunity Zones Fund

by Kristin Harlow April 5, 2019

CHICAGO — Farpoint Development, Clayco and CRG have launched Decennial Group, a national Opportunity Zones (OZ) real estate and energy investment and development fund based in Chicago. The joint venture is targeting investment of $1 billion in development projects and is designed to leverage the OZ tax incentives created through the 2017 tax reform legislation. A formal fundraising campaign will be announced soon. The OZ marketplace is generating interest around the country for its potential to positively transform economically distressed communities. Decennial Group derived its name from its 10-year approach to investment and development, which positions neighborhoods for transformative, long-term and inclusive growth. The platform focuses on commercial, industrial, multifamily and energy projects located in OZs throughout America’s heartland. A differentiator from other OZ funds is Decennial’s renewable energy strategy, led by David Pavlik of 11 Million Acres, which has structured over $2 billion in renewable energy and infrastructure projects. Decennial includes Scott Goodman of Farpoint, Bob Clark of Clayco and Shawn Clark of CRG, Clayco’s real estate development and investment company. Steve Glickman of Develop LLC will serve as senior advisor to the management team. Decennial’s team also includes Dan Gilman, a private equity veteran who heads investments for …

April 5, 2019

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