Property Type

Meridian Capital Arranges $51.6M Acquisition Loan for Houston Apartments

by Taylor Williams January 2, 2019

HOUSTON —New York City-based Meridian Capital Group has arranged a $51.6 million acquisition loan for Lakeview Apartments and Estates, two multifamily properties in Houston totaling 566 units. Both properties offer resort-style pools, fitness centers and nearby jogging trails. Zev Karpel of Meridian Capital Group arranged the loan, which featured a 12-year term, a 4.89 percent interest rate and a 30-year amortization schedule, through Capital One on behalf of the borrower, Marlin Spring Investments.

January 2, 2019

AStoreroom-Mini-Storage-New-Braunfels-Texas

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 582-Unit Self-Storage Facility in Metro San Antonio

by Taylor Williams January 2, 2019

NEW BRAUNFELS, TEXAS — Marcus & Millichap has brokered the sale of AStoreroom Mini-Storage, a 582-unit facility in New Braunfels, about 35 miles northeast of San Antonio. The facility was expanded in 2017 to include an additional 219 units. Jon Danklefs and Michael Mele of Marcus & Millichap represented the seller and procured the buyer in the deal. Both parties were limited liability companies that requested anonymity.

January 2, 2019

Acquisitions Office Texas

Dornin Investment Group Sells 120,520 SF Office Park in Houston’s Energy Corridor

by Taylor Williams January 2, 2019

HOUSTON — Dornin Investment Group, which has offices in Las Vegas and Laguna Beach, Calif., has sold 11777 Katy Freeway, a 120,520-square-foot office park located in the Energy Corridor area on Houston’s west side. Situated on 3.7 acres, the property was 60 percent occupied at the time of sale. Payton Indermuehle and Todd Jurek of Keen Realty Group LLC represented the buyer, Next Investments LLC, in the transaction. Dornin Investment Group was self-represented.

January 2, 2019

Civic Development Texas

Woodmont Begins Construction of 10,000 SF Kiddie Academy in Frisco

by Taylor Williams January 2, 2019

FRISCO, TEXAS — The Woodmont Co., a national real estate firm specializing in the development, management, leasing and sale of retail properties, has begun construction on a 10,000-square-foot retail project for Kiddie Academy in Frisco, a northern suburb of Dallas. Scheduled to open this summer, the school will offer full-time care, before- and after-school care and summer camp programs for children between 6 weeks and 12 years old.

January 2, 2019

Acquisitions Office Texas

Colliers Negotiates Sale of 8,364 SF Office Building in North Houston

by Taylor Williams January 2, 2019

HOUSTON — Colliers International has negotiated the sale of an 8,364-square-foot office building located at 15055 Woodham Drive, just off Interstate 45 in north Houston. Daniel Tapia and Tom Condon Jr. of Colliers International represented the seller, Nacobre USA LLC, in the transaction. Bob Conwell and John Nguyen of NewQuest Properties represented the buyer, Destiny Real Estate Houston LLC, an affiliate of California-based The Marwaha Group.

January 2, 2019

Florida Loans Office Southeast

New York Life Provides $170M Refinancing Loan for Wells Fargo Center in Downtown Miami

by Alex Tostado January 2, 2019

MIAMI — New York Life Real Estate has provided a $170 million loan for the refinancing of Wells Fargo Center in downtown Miami. The borrower, MetLife, owns the 47-story office tower, which was built in 2010 at 333 S.E. 2nd Ave. The loan has a 10-year term with an undisclosed fixed interest rate. Tenants in the 752,488-square-foot building include Wells Fargo Bank; McDermott, Will & Emery; Greenberg Traurig; and Deloitte. The property adjoins the JW Marriott Marquis and features an entertainment complex on the 19th floor, fitness center, spa, salon and meeting space.

January 2, 2019

Acquisitions Florida Multifamily Southeast

Boardwalk Properties Purchases Multifamily Complex in South Florida for $119M

by Alex Tostado January 2, 2019

DAVIE, FLA. — Boardwalk Properties has bought a 394-unit apartment complex for $119 million in Davie, about eight miles west of Fort Lauderdale. Boardwalk will rename the complex to The Avenue from its current name, Elan Maison. Amenities include a three-story clubhouse, fitness center, yoga studio, billiards and a pool. Neil Rollnick of Hinshaw & Culbertson LLP represented the buyer in the transaction. Pacific Investment Management Co. LLC and Greystar were the sellers.

January 2, 2019

Acquisitions North Carolina Office Southeast

Accesso Acquires Two Office Buildings Near Research Triangle Park in Raleigh-Durham Area for $73M

by Alex Tostado January 2, 2019

CARY, N.C. — Accesso Partners LLC has bought the Weston I and II Parkway portfolio near Research Triangle Park in Cary for $73 million. The seller was Raleigh-based Capital Associates. Weston I is a six-story, 212,441-square-foot office building that was 97 percent leased at the time of the transaction. Weston II is a four-story, 77,742-square-foot building that was 100 percent leased at the time of the transaction. Ryan Clutter, Scot Humphrey, Chris Lingerfelt and Zack Drozda of HFF represented the seller in the transaction. Frank Baird of Capital Associates will stay on as property manager and leasing agent.

January 2, 2019

Florida Loans Multifamily Southeast

Avison Young Secures $70.5M Loan for Multifamily Community in Downtown Orlando

by Alex Tostado January 2, 2019

ORLANDO, FLA. — Avison Young has arranged a $70.5 million bridge loan for CitiTower, a 25-story, 233-unit multifamily complex in downtown Orlando. George Vail of Avison Young arranged the loan on behalf of the borrower, East SDG CitiTower LLC. Asia Capital Real Estate provided the three-year, floating-rate loan at an interest rate that was LIBOR plus 350 basis points. CitiTower was delivered in August 2017 and features studio, one-, two- and three-bedroom floor plans. Amenities include a rooftop pool, outdoor lounge and a 24-hour fitness center. CitiTower is located one block south of Lake Eola.

January 2, 2019

Acquisitions Alabama Multifamily Southeast

Berkadia Arranges $56M Sale of Multifamily Community in Birmingham

by Alex Tostado January 2, 2019

BIRMINGHAM, ALA. — Berkadia has arranged the $56 million sale of Wildwood Crossings Apartments, a 520-unit multifamily complex in Birmingham. The buyer, New York City-based White Eagle Property Group LLC, will renovate the interiors of the units as well as update amenities community-wide. David Oakley, David Wilson, Caleb Frizzell and Abe Maddox of Berkadia represented the undisclosed seller in the transaction.

January 2, 2019

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