Property Type

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

California Development Retail Western

Donahue Schriber Launches $120M Expansion at Del Mar Highlands Town Center in San Diego

by Amy Works April 5, 2019

SAN DIEGO — Donahue Schriber has announced a $120 million expansion at Del Mar Highlands Town Center, a destination mixed-use property at 12925 El Camino Real in San Diego. The expansion will bring the asset to more than 400,000 square feet of retail, dining and entertainment space. The expansion, known The Collection at Del Mar Highlands Town Center, will bring an additional 120,000 square feet space, offering 40 new retailers, restaurants, fitness studios and new spaces to work, play and lounge. The project centers around relocation of Jimbo’s…Naturally, as the grocery store expands to 25,000 square feet. The grocer’s new space is slated to open this summer. Additional tenants at The Collection will be OH! Juice; Cascade Spa; Perlman Wellness Center; Head Lettuce, a healthy dining concept; and Diesel, a Brentwood, Calif.-based bookstore. CermaiCafe will also relocate to the new space. The expansion includes a boutique fitness row, which is slated to open in 2020. The new collection of fitness brands will offer a variety of fitness options, including StretchLab, Row House and an expanded Club Pilates location. Located above the expanded Jimbo’s…Naturally, The Sky Deck will bring eight to 10 dining destinations, a central cocktail bar and an elevated …

April 5, 2019

Acquisitions California Multifamily Seniors Housing Western

SLIB Negotiates $22.8M Sale of Memory Care Community in Southern California

by Amy Works April 5, 2019

VISTA, CALIF. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Vista Gardens, a 71-unit memory care community in Vista, located between San Diego and Los Angeles. A private equity firm based in Colorado acquired the community for $22.8 million as part of a growth strategy in seniors housing. The seller was a local, single-asset owner seeking to exit the industry. Vista Gardens totals 44,000 square feet and is located on a 4.5-acre plot. The price equates to $321,000 per unit. Alec Blanc of Monarch Advisors (an affiliate of SLIB) sourced the senior debt for the transaction. It consisted of an $18.1 million loan, including $1.9 million for planned capital expenditures, from a regional commercial bank. The loan is structured with a five-year term, interest-only payments for the first two years and partial recourse from the buyer with a burn-off provision. Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage handled the transaction.

April 5, 2019

Newer Posts

Older Posts