Property Type

Parkland Residential Secures $57M Financing for Build-to-Rent Development Near Macon

by John Nelson October 4, 2024

WARNER ROBINS, GA. — Parkland Residential has secured a $57 million loan for the financing of Grover Landing, a build-to-rent (BTR) residential community underway in Warner Robins, roughly 20 miles south of Macon, Ga. The loan will be used to refinance completed homes at the development, which will total 317 units. Residences at the community range from two to four bedrooms in size. Amenities at the development include a swimming pool with a cabana, playground, pocket parks and a playfield, as well as yard maintenance, pest control, home repairs and appliances. Avi Kozlowski, Thomas Wayda and Dante Distefano of Greystone arranged the financing through Encore Finance. Additionally, Synovus Bank will provide construction financing for newly built homes.

October 4, 2024

Acquisitions Florida Multifamily Southeast

American Landmark Acquires, Rebrands 455-Unit Apartment Community in Brandon, Florida

by John Nelson October 4, 2024

BRANDON, FLA. — American Landmark Apartments has acquired Courtney Trace & The Addison, a 455-unit multifamily community located at 1131 Courtney Trace Drive and 251 Annapolis Way in Brandon, about 13 miles east of Tampa. The locally based buyer will rebrand the property as “The Griffin” moving forward. American Landmark also plans to implement $7 million of upgrades at the community, including a new dog park, updates to the clubhouse and fitness center, improvements to the pool and outdoor areas and the addition of electric vehicle charging stations. Interior units will also undergo substantial renovations. The seller and sales price were not disclosed.

October 4, 2024

Acquisitions Loans Multifamily Texas

JLL Arranges Refinancings for Two Houston Multifamily Properties Totaling 745 Units

by Taylor Williams October 4, 2024

HOUSTON — JLL has arranged two loans of undisclosed amounts for the refinancing of a pair of multifamily properties totaling 745 units in Houston’s River Oaks area. Hanover Autry Park is a 23-story high-rise building with 324 units and nearly 23,000 square feet of ground-floor retail space. Hanover Parkview is a 421-unit midrise apartment building with 24,000 square feet of ground-floor retail space. Both properties were completed in 2022 and offer amenities such as pools, outdoor grilling areas, social lounges with entertainment kitchens, fitness centers and rooftop lounges with indoor/outdoor bars. The properties were 92 and 95 percent occupied, respectively, at the time of the closings of the loans, both of which were structured with five-year terms and fixed interest rates. Cortney Cole, Colby Mueck, Laura Brown, Davis Burnett and Scot Sarlin of JLL arranged the loans through funds backed by global private equity firm KKR. The borrower, a partnership between Hanover Co. and Lionstone Investments, will use proceeds to retire construction debt that JLL also originated for both properties in 2019.

October 4, 2024

Acquisitions Industrial Oklahoma Self-Storage Texas

Marcus & Millichap Brokers Sale of 375-Unit Self-Storage Facility in Tuttle, Oklahoma

by Taylor Williams October 4, 2024

TUTTLE, OKLA. — Marcus & Millichap has brokered the sale of Premium Storage, a 375-unit self-storage facility in Tuttle, a southwestern suburb of Oklahoma City. The site spans seven acres, and the property features 107,330 net rentable square feet across 37 climate-controlled units, 334 non-climate-controlled units and four commercial spaces. Bryan Quaschnick, Danny Cunningham and Brandon Karr of Marcus & Millichap represented the Dallas-based seller in the deal and procured the buyer, an out-of-state, privately held investment group. Both parties requested anonymity.

October 4, 2024

Acquisitions Multifamily Texas

GREA Negotiates Sale of 152-Unit Park Lane Terrace Apartments in Dallas

by Taylor Williams October 4, 2024

DALLAS — Multifamily brokerage firm GREA has negotiated the sale of Park Lane Terrace, a 152-unit apartment complex located at 6864 Larmanda St. in the Vickery Meadows neighborhood of Dallas. According to Apartments.com, Park Lane Terrace was originally built in 1968. The property offers one-, two- and three-bedroom apartments with an average unit size that exceeds 800 square feet. A California-based firm sold the property to a private equity real estate firm, with both parties requesting anonymity. Mark Allen and Chibuzor Nnaji of GREA brokered the deal.

October 4, 2024

Civic Development Texas

Linbeck Completes 95,000 SF Academic Project at Texas Christian University in Fort Worth

by Taylor Williams October 4, 2024

FORT WORTH, TEXAS — General contractor Linbeck has completed a 95,000-square-foot academic project at Texas Christian University (TCU) in Fort Worth. Known as Arnold Hall, the four-story building houses the Anne Burnett Marion School of Medicine and will function as a hub for some 240 medical students, nearly 150 faculty and staff and clinicians from affiliated hospitals. Arnold Hall features a commons area, library, classrooms and faculty offices and suites, as well as anatomy and experimental labs, medical simulation suite and a clinical skills room. The project team included CO Architects (design architect) and Hoefer Welker (executive architect).

October 4, 2024

Leasing Activity Office Texas

SiriusXM Signs 58,350 SF Office Lease Renewal in Irving

by Taylor Williams October 4, 2024

IRVING, TEXAS — SiriusXM has signed a 58,350-square-foot office lease renewal in Irving. The Manhattan-based auditory broadcasting giant will remain the sole tenant at Building III of Freeport Business Center, which according to LoopNet Inc. was originally constructed in 1999, for an unspecified period of time. Tim Terrell and Rhett Miller with Stream Realty Partners represented the undisclosed landlord in the lease negotiations. Ryan Buchanan of CBRE represented SiriusXM.

October 4, 2024

Freshfields-Bruckhaus-Deringer-3-World-Trade-Center

Development New York Northeast Office

JT Magen Completes 180,000 SF Office Build-Out at 3 World Trade Center in Lower Manhattan

by Taylor Williams October 4, 2024

NEW YORK CITY — National general contractor JT Magen has completed the 180,000-square-foot office build-out for law firm Freshfields Bruckhaus Deringer at 3 World Trade Center in Lower Manhattan. The space spans four levels and features a kitchen and cafeteria with food service, a dedicated barista and grab-and-go coffee station, as well as several breakout and meeting spaces that encourage collaborative interactions. Gensler designed the space, and Robert Derector Associates handled engineering initiatives.

October 4, 2024

Acquisitions Connecticut Mixed-Use Northeast

Marcus & Millichap Brokers $19M Sale of Mixed-Use Portfolio in Greenwich, Connecticut

by Taylor Williams October 4, 2024

GREENWICH, CONN. — Marcus & Millichap has brokered the $19 million sale of a four-building, 47,256-square-foot mixed-use portfolio in Greenwich, located in southern coastal Connecticut. Known as the Nolan Thomas Portfolio, the properties comprise 17 retail spaces, 17 office suites, 10 apartments and an 11,226-square foot, single-story warehouse. Stephen Westerberg of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was also not disclosed.

October 4, 2024

Acquisitions Massachusetts Multifamily Northeast

NEPCG Arranges $10.5M Sale of Apartment Complex in Chicopee, Massachusetts

by Taylor Williams October 4, 2024

CHICOPEE, MASS. — Regional brokerage firm Northeast Private Client Group (NEPCG) has arranged the $10.5 million sale of Brook Edge Apartments, an 82-unit multifamily complex in the western Massachusetts city of Chicopee. The property, which according to Apartments.com was built in 1970, comprises 36 studios, 30 one-bedroom units and 16 two-bedroom apartments. Taylor Perun of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

October 4, 2024

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