Property Type

Stonelake Capital to Build 200,000 SF Spec Office Project in Houston

by Taylor Williams September 21, 2018

HOUSTON — Stonelake Capital Partners, a real estate private equity firm with offices in Dallas, Houston and Austin, will build a 200,000-square-foot speculative office project located at 4200 Westheimer Road in the River Oaks/Highland Village area of Houston. Stonelake expects to break ground on the 15-story, Class A property, which is part of Phase III of the company’s Park Place | River Oaks mixed-use development, in January 2019. The office space is expected to be available for occupancy in spring 2020. Colvill Office Properties is marketing and leasing the asset.

September 21, 2018

Acquisitions Industrial New Hampshire Northeast Self-Storage

Skyview Advisors Negotiates Sale of 419-Unit Self-Storage Facility in New Hampshire

by David Cohen September 21, 2018

LONDONDERRY, N.H. —Skyview Advisors has negotiated the sale of Life Storage, a 419-unit self-storage facility in Londonderry. The sales price was undisclosed. Ryan Clark and Parker Sweet of SkyView Advisors represented the undisclosed seller. Located at 6 Smith Lane, Life Storage is situated on more than 5 acres and has a total of 50,466 net rentable square feet. The facility includes 246 climate-controlled units and 173 non-climate controlled units.

September 21, 2018

Leasing Activity Massachusetts Northeast Retail

New England Development Signs Planet Fitness, Burlington to Westgate Mall in Massachusetts

by David Cohen September 21, 2018

BROCKTON, MASS.— New England Development has signed Planet Fitness and Burlington to Westgate Mall in Brockton, a city 25 miles south of Boston. Burlington will open a 43,000-square-foot location store at the mall, creating 50 to 100 new jobs. Planet Fitness typically operates 20,000-square-foot clubs, according to the company’ s website. Both tenants are scheduled to open at the mall this month. The new retailers join recently opened stores such as Chipotle Mexican Grill, Staples, Verizon and XFINITY Store by Comcast. Additional tenants at Westgate Mall include Sears, Best Buy, Bath & Body Works, Famous Footwear, Old Navy, Victoria’s Secret, Buffalo Wild Wings and IHOP.

September 21, 2018

Loans Multifamily Texas

LMI Capital Arranges Two Multifamily Loans Totaling $49M in Houston

by Taylor Williams September 21, 2018

HOUSTON — LMI Capital, a Real Estate Capital Alliance (RECA) member, has arranged two multifamily loans totaling $49 million in Houston. In the first transaction, Brandon Brown of LMI Capital arranged a $26 million acquisition loan for a 460-unit asset in the Briar Forest/Westchase area. The loan features a 4.82 percent fixed interest rate and seven years of interest-only payments. In the second deal, Jamie Mullin of LMI Capital arranged a $23 million loan for the refinancing a 360-unit property in the Woodlake/Briar Meadow submarket. That loan includes a 4.85 percent fixed interest rate and a four-year interest-only period. The names of the properties were not disclosed.

September 21, 2018

2700-Research-Forest-Drive-The-Woodlands

Acquisitions Office Texas

J. Beard Brokers Sale of 74,940 SF Office Building in Metro Houston

by Taylor Williams September 21, 2018

THE WOODLANDS, TEXAS — The J. Beard Real Estate Co. has brokered the sale of a 74,940-square-foot office building located at 2700 Research Forest Drive in The Woodlands, about 30 miles north of Houston. The property was 100 percent leased at the time of sale to eight tenants. SJBC Commercial XIX LLC purchased the property from Dallas-based Novel Office Systems/Soft-Tech SM for an undisclosed price. Jeff Beard of J. Beard brokered the sale.

September 21, 2018

Acquisitions Multifamily Texas

Greysteel Negotiates Sale of 154-Unit Apartment Property in Irving

by Taylor Williams September 21, 2018

IRVING, TEXAS — Greysteel has negotiated the sale of Rock Island, a 154-unit apartment property in Irving. Floor plans at the property, which was built in 1973, include one-, two- and three-bedroom units. Doug Banerjee, Boyan Radic, Andrew Mueller, Andrew Hanson, Scott Simon and Jack Stone of Greysteel represented the seller in the transaction. Other terms of sale were not disclosed.

September 21, 2018

Acquisitions California Retail Western

Cushman & Wakefield Arranges $55 Million Sale of Whole Foods Property in Silicon Valley

by Amy Works September 21, 2018

LOS ALTOS, CALIF. — Cushman & Wakefield has arranged the $55 million sale of a 50,451-square-foot retail property leased to Whole Foods Market in Los Altos. Kevin Held and Matt McNeil of Cushman & Wakefield arranged the transaction on behalf of the buyer, Imperial Hornet Developers LLC. Compass Grand Associates LLC sold the asset. The store features dual entry on the ground floor, as well as two levels of subterranean parking.

September 21, 2018

Acquisitions Arizona Multifamily Western

Kasten Long Commercial Negotiates $49M Sale of Apartment Community in Mesa, Arizona

by Amy Works September 21, 2018

MESA, ARIZ. — Kasten Long Commercial Group has arranged the sale of Siena Apartments, a multifamily property located at 4520 E. Baseline Road in Mesa. An undisclosed buyer acquired the 291,000-square-foot property for $49 million, or $139,205 per unit. Built in 1986, the 352-unit property features 160 one-bedroom/one-bath units, 168 two-bedroom/one-bath and 24 three-bedroom/two-bath units, with an average square footage of 827. Linda Fritz-Salazar and Scott Trevey of Kasten Long Commercial negotiated the transaction. The name of the seller was not released.

September 21, 2018

Affordable Housing Development Hawaii Loans Multifamily Western

Hunt Capital Partners, UHC Close $39M in Financing for Affordable Housing Development in Hawaii

by Amy Works September 21, 2018

KIHEI, HAWAII — Hunt Capital Partners, in partnership with Urban Housing Communities (UHC), has closed $26 million in federal low-income housing tax credit (LIHTC) equity and $12.9 million in Hawaii state tax credit equity financing for the construction of Kaiwahine Village in Kihei. This is the fourth partnership in Hawaii for Hunt Capital Partners and UHC. Located on the island of Maui, Kaiwahine Village will feature 118 affordable housing units for families earning up to 30, 40 and 60 percent of the area median income. The property will provide two- and three-bedroom units, as well as two employee units. On-site amenities include central laundry facilities, recreation areas, a clubhouse, courtyard and par course. Additionally, Ikaika Ohana, a non-profit managing general partner, will sponsor social and education programs at the community or at surrounding schools and community centers. The $62.8 million project is slated for completion in early 2020. Urban Housing Communities is developing the property, Moss & Associates is serving as the master contractor, Design Partners Inc. is the architect, and Big Island Housing Foundation is the property management agent. Hunt Capital Partners committed a total of $31.5 million in federal and state LIHTC equity. Additional funding includes a $33.2 …

September 21, 2018

Development Georgia Multifamily Southeast

Alliance Residential Opens 251-Unit Apartment Community in Atlanta’s West Midtown District

by Camren Skelton September 21, 2018

ATLANTA — Phoenix-based Alliance Residential Co. has opened Broadstone Yards, a 251-unit apartment community located at 1084 Howell Mill Road N.W. in Atlanta’s West Midtown district. The community includes a mix of studio, one- and two-bedroom units with stainless steel appliances, gas-powered stoves, French-door refrigerators and built-in wine coolers in select units. Community amenities include coworking space; a conference room with video capability; fitness center with a Peloton bike, climbing rope and peg boards; bike storage with repair station; rooftop lounge with bar; outdoor TV, games and grills; resort-style, saltwater pool; dog spa; and a courtyard with a fire pit and fountain. Monthly rental rates range from $1,485 for a studio to $2,610 for a two-bedroom.

September 21, 2018

Newer Posts

Older Posts