Property Type

Barton Malow to Construct 225,000 SF Office Building in Daytona Beach for Brown & Brown Insurance

by Alex Tostado February 8, 2019

DAYTONA BEACH, FLA. — Barton Malow will construct an 11-story, 225,000-square-foot glass building for Brown & Brown Insurance Co. in Daytona Beach. The building will be situated on more than 10 acres and will include terraces on the second and 11th floors overlooking the Halifax River. Brown & Brown has worked in the area before, having remodeled Daytona International Speedway and built Embry-Riddle Aeronautical University’s four-story student union. The Daytona Beach-based insurance company will house more than 600 workers at the building upon completion. A timeline for construction was not disclosed.

February 8, 2019

Acquisitions Multifamily Seniors Housing South Carolina Southeast

Cushman & Wakefield Arranges $48.4M Sale of Seniors Housing Portfolio in Upstate South Carolina

by Alex Tostado February 8, 2019

GREENVILLE, S.C. — Cushman & Wakefield has arranged the $48.4 million sale of a seniors housing portfolio in Upstate South Carolina. Atlas Senior Living acquired the three-property portfolio totaling 198 units in metro Greenville. The assets include Spring Park, a 66-unit community constructed in 2014 in Travelers Rest; Fairview Park, a 66-unit community delivered in 2015 in Simpsonville; and Oakview Park, a 66-unit community built in 2016 in Powdersville. Paul Carr, David Kliewer and Allen McCutry of Cushman & Wakefield represented the seller, Tampa, Fla.-based Graycliff Capital Senior Housing LLC, in the transaction.

February 8, 2019

Florida Loans Multifamily Southeast

Hunt Real Estate Provides $35.6M Acquisition Loan for Multifamily Complex in Jacksonville

by Alex Tostado February 8, 2019

JACKSONVILLE, FLA. — Hunt Real Estate Capital has provided a $35.6 million loan to an affiliate of EBSCO Income Properties LLC for the purchase of Integra River Run, a 300-unit apartment complex in Jacksonville. The non-recourse Fannie Mae loan has a 10-year term with five years of interest-only payments, as well as a 30-year amortization schedule. The garden-style community comprises 12 two- and four-story buildings. Amenities include a fitness studio, spin bikes with virtual trails, cyber café, valet trash pickup, clubhouse, coffee bar, gaming room, resort-style outdoor lounge, fire pit, outdoor grills, swimming pool and a dog park. Integra River Run LLC was the seller.

February 8, 2019

Development Georgia Mixed-Use Southeast

Pace Lynch to Break Ground on Mixed-Use Building Within Metro Atlanta’s Pinewood Forest Development

by Alex Tostado February 8, 2019

FAYETTEVILLE, GA. — Pace Lynch Corp. will break ground next month on a 52,824-square-foot mixed-use building in Fayetteville. The site will offer coworking and retail space and is expected to be delivered in January 2020. The building will include ground-level restaurants and retail, three levels of coworking and medical office space and a 2,500-square-foot rooftop with a restaurant and bar. The building will be situated at the 25-acre town center within Pinewood Forest, a master-planned 235-acre development situated about 24 miles south of downtown Atlanta in Fayette County. Wakefield Beasley & Associates designed the building, and Brasfield & Gorrie is the general contractor.

February 8, 2019

Acquisitions Multifamily Southeast Virginia

Thalhimer Realty Purchases Apartment Complex in Richmond for $23.5M

by Alex Tostado February 8, 2019

RICHMOND, VA. — Thalhimer Realty Partners has acquired Towers on Franklin Apartments, a two-building, 332-unit apartment complex in Richmond, for $23.5 million. The buildings are situated at 104 and 311 W. Franklin St., in the heart of Virginia Commonwealth University’s campus. Amenities include a clubhouse, two fitness centers, media lounge, swimming pool and underground parking. Thalhimer has significant renovations planned, including full interior unit renovations to the 311 building. A timeline for the renovations was not disclosed. C&F Bank provided acquisition financing.

February 8, 2019

Development Loans Multifamily New York Northeast

Madison Realty Capital Provides $52.5M Construction Loan for Apartment Building in Washington Heights

by Jeff Shaw February 8, 2019

NEW YORK CITY — Madison Realty Capital has provided a $52.5 construction loan for a mixed-use development in the Washington Heights neighborhood of Manhattan. Located at 4452 Broadway, the seven-story, 134,475-square-foot project will include 129 residential units and 11,000 square feet of retail space. The project is being built under the Affordable New York program and will include a mix of 70 percent market-rate units and 30 percent reserved for those making a certain percentage of area median income. The property site consists of two adjacent lots totaling 24,280 square feet with 75 feet of frontage on Broadway and 303 feet on Fairview Avenue. The borrower, HAP Investment Developers, acquired the property in 2013.

February 8, 2019

Development Loans Mixed-Use Multifamily New York Northeast Retail

JLL Arranges $36.7M Development Financing for Mixed-Use Project in Manhattan

by Jeff Shaw February 8, 2019

NEW YORK CITY — JLL Capital Markets has arranged a $36.7 million construction loan for a mixed-use project on the border of the Chelsea and Flatiron neighborhoods of Manhattan. Located at 128-130 W. 23rd St., the 37,752-square-foot, 15-story project will include 30 residential units and 3,673 square feet of retail space. The property will also feature 2,500 square feet of amenity space including a fitness center and rooftop space. Jonathan Schwartz, Max Herzog, Brett Rosenberg and Chris Byrns of JLL Capital Markets secured financing for the borrowers, Pan-Brothers Association and Valyrian Capital. The lender was CapitalSource. Terms of the financing were not disclosed.

February 8, 2019

Acquisitions Industrial New York Northeast

NAI Queens Orchestrates $3.6M Sale of Warehouse in Woodside, New York

by Jeff Shaw February 8, 2019

WOODSIDE, N.Y. — NAI Queens has arranged the $3.6 million sale of an 8,000-square-foot warehouse in Woodside. Located on 56th St., the two-story property was built in 1970 and features two drive-in doors as well as 10-foot clear heights. Brian Sarath of NAI Queens represented the seller, Nancy Siegel, in the transaction. The buyer was Susan Wu.

February 8, 2019

Acquisitions California Office Western

PCCP Acquires 138,393 SF Office Building in San Francisco for $120M

by Amy Works February 8, 2019

SAN FRANCISCO — PCCP has purchased a four-story office property, located at 350 Rhode Island St. in San Francisco’s Potreto Hill neighborhood and Showplace Square office submarket, for $120 million. The name of the seller was not released. Built in 2001, the asset includes two interconnected buildings offering a total of 138,393 square feet of Class A office space over three levels of subterranean parking. The buildings are now under separate ownership, and the parking structure component of PCCP’s acquisition provides added cash flow for the investment. The property features 35,000-square-foot floor plates and a modern, distinctive architectural design.

February 8, 2019

Park-Meadows-Corporate-Center-I-Lone-Tree-CO

Acquisitions Colorado Office Western

Bailey Co. Buys Park Meadows Corporate Center in Lone Tree, Colorado, for $10M

by Amy Works February 8, 2019

LONE TREE, COLO. — Golden, Colo.-based The Bailey Co. has acquired Park Meadows Corporate Center I, located at 10004 Park Meadows Drive in Lone Tree. LRS Bay Road Investment Group sold the property for $10 million. Monica Wiley and Jeff Wood of CBRE represented the seller, while Mitch Bradley, Joe Serieno and Chad Alexander, also of CBRE, served as leasing advisors on the transaction. Constructed in 2000, the three-story multi-tenant asset features 60,144 square feet of office space. Lone Tree is located in metro Denver, approximately 15 miles south of downtown.

February 8, 2019

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