Property Type

Preiss, TH Real Estate Acquire 472-Bed Student Housing Property Near Indiana University

by Kristin Harlow May 23, 2018

BLOOMINGTON, IND. — The Preiss Company and TH Real Estate have acquired The Park on Morton, located two blocks from Indiana University in Bloomington. The purchase price was not disclosed. Preiss will manage the 472-unit student housing property, which will undergo upgrades to the clubhouse and amenity spaces. Several of the units will receive upgrades as well. Situated on the western edge of campus, The Park on Morton features a mix of one-, two-, three- and four-bedroom units, which are all fully furnished.

May 23, 2018

Illinois Loans Midwest Multifamily

Eyzenberg & Co. Arranges $28M Bridge Loan for 304-Unit Apartment Property in Suburban Chicago

by Kristin Harlow May 23, 2018

WOODRIDGE, ILL. — Eyzenberg & Co. has arranged a $28 million bridge loan for Woodland Ridge Apartments in Woodridge, a southwestern suburb of Chicago. The 304-unit apartment property, built in 1974, is located at 3421 Foxboro Drive. The financing enabled the borrower to pay off its initial acquisition loan and allocate additional funds for the continued renovation of the Class B property’s units and common areas. Clubhouse improvements include a full kitchen and game room, cyber café, grilling stations, laundry lounge and a 24-hour fitness center. David Eyzenberg, Jeff Conti and Diana Davidson of Eyzenberg arranged the loan with Hunt Mortgage Group. SSIL II LLC, a partnership comprising Auerbach Funds and Sinatra & Co. Real Estate, was the borrower.

May 23, 2018

Acquisitions Multifamily New York Northeast

Marcus & Millichap Orchestrates Sale of 21-Unit Apartment Building in Schenectady, New York

by David Cohen May 23, 2018

SCHENECTADY, N.Y. — Marcus & Millichap has arranged the sale of Cottage Row Apartments, a 21-unit apartment property located in Schenectady for $1.7 million. Located at 1 Cottage Row, the apartment building is situated in the historic Stockade District of Schenectady. Units at the complex feature hardwood floors as well as spacious outdoor patios and decks. Chip Collins of Marcus & Millichap represented seller, a private investor, in the transaction. The buyer was also a private investor.

May 23, 2018

Loans Midwest Missouri Multifamily

Arbor Provides $16M Refinancing for Manufactured Housing Community in Kansas City

by Kristin Harlow May 23, 2018

KANSAS CITY, MO. — Arbor Realty Trust Inc. has provided a $16 million Freddie Mac loan for the refinancing of Lakeview Terrace in Kansas City. The 541-unit manufactured housing community is located just north of the Missouri River. Built in 1970, the community features newly renovated mobile homes in addition to a clubhouse, basketball court, playground and two swimming pools. Jason Scott of Arbor originated the 10-year loan. The undisclosed borrower acquired the property in 2015.

May 23, 2018

Acquisitions Industrial New York Northeast

Seagis Property Group Acquires Six Industrial Buildings in Queens

by David Cohen May 23, 2018

NEW YORK CITY — Seagis Property Group has acquired six warehouse buildings in South Queens for an undisclosed price. The properties, which are located in the JFK submarket of Queens, total 68,000 square feet. Seagis now owns 52 buildings totaling 1 million square feet across New York City.

May 23, 2018

Acquisitions Industrial Texas

HFF Negotiates Sale of 192,000 SF Industrial Asset in North Houston

by Taylor Williams May 23, 2018

HOUSTON — HFF has negotiated the sale of Interwood Business Center, a 192,000-square-foot industrial asset located near George Bush Intercontinental Airport in north Houston. The two-building property, which includes one rear-load building and one cross-dock building, features 24-foot clear heights, dock-high doors and 130- to 190-foot truck courts. Trent Agnew, Rusty Tamlyn and Dane Petersen of HFF represented the seller, Stockbridge Capital Group, in the transaction. California-based Black Equities Group Ltd. purchased the property, which was 93 percent leased at the time of sale, for an undisclosed price.

May 23, 2018

Loans Multifamily Student Housing Texas

ORIX Provides $28M Construction Loan for 236-Bed Student Housing Property in Austin

by Taylor Williams May 23, 2018

AUSTIN, TEXAS — ORIX Real Estate Americas, a division of Dallas-based financial services firm ORIX Corp. USA, has provided a $28 million loan for the construction of a student housing community in Austin. The property will serve the University of Texas at Austin and total 236 beds across 66 units. Amenities will include a fitness center, rooftop deck, cyber lounge and conference rooms. Construction of the property began in April, with completion expected in time for the 2019-2020 school year. ORIX provided the loan on behalf of the undisclosed developer.

May 23, 2018

Loans Multifamily Retail Texas

LMI Capital Closes Three Acquisition Loans Totaling $24M in Houston Area

by Taylor Williams May 23, 2018

HOUSTON AND PASADENA, TEXAS — LMI Capital has closed three loans totaling roughly $24 million for the acquisitions of two multifamily complexes and one retail center in the Houston area. The undisclosed properties include a 215-unit apartment complex in northwest Houston, a 200-unit apartment property in the southeastern suburb of Pasadena and a 21,000-square-foot retail center in west Houston. Jamie Mullin, Brandon Brown and Jamie Safier of LMI Capital closed the deals for the first, second and third properties, respectively. The borrowers were not disclosed.

May 23, 2018

Loans Multifamily Texas

Newmark Arranges $22M Bridge Loan for Apartment Community in Metro Dallas

by Taylor Williams May 23, 2018

WAXAHACHIE, TEXAS — Newmark has arranged a $22 million bridge loan for Hunter’s Cove, a 192-unit multifamily community in Waxahachie, a southern suburb of Dallas. The property offers a mix of one-, two- and three-bedroom units and amenities such as a pool, fitness center, dog park and outdoor kitchen area. Andy Bratt and Spencer Seibring of Newmark secured the two-year loan, which features an 80 percent loan-to-purchase-price ratio, through Greystone. The borrower was not disclosed.

May 23, 2018

Industrial Leasing Activity Texas

Darling Ingredients Signs 95,322 SF Office Lease Expansion in Irving

by Taylor Williams May 23, 2018

IRVING, TEXAS — Darling Ingredients, a provider of sustainable food, feed and fuel solutions, has signed a 95,322-square-foot office lease at 5601 N. MacArthur Blvd. within the Las Colinas business district in Irving. Beginning in December, the company will relocate from its 59,000-square-foot space at 251 O’Connor Ridge Blvd., which it has occupied for three decades. Bill McClung and Robbie Baty of Cushman & Wakefield represented Darling Ingredients in the lease negotiations. Matt Hurlbut and Nathan Durham of Transwestern represented the landlord, Massachusetts-based Brookwood Financial Partners LLC.

May 23, 2018

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