Property Type

PN Hoffman, Madison Marquette Break Ground on Phase II of $2.5B Mixed-Use Project in Washington, D.C.

by Taylor Williams April 1, 2019

WASHINGTON, D.C. — Locally based developers PN Hoffman and Madison Marquette have broken ground on Phase II of The Wharf, a $2.5 billion, mixed-use project fronting the Potomac River in Washington, D.C. At full build-out, Phase II will feature 625,000 square feet of Class A office space, 255 apartments, 96 condominium units, 131 hotel rooms and a 109,000 square feet of retail and restaurant space. Phase II will also include a 1.5-acre park, two underground parking garages with more than 1,000 spaces, and additional dockage totaling 223 slips at The Wharf Marina. Phase I of The Wharf, which spans a mile and is the largest private development in the city, opened in October 2017. Phase I included three hotels, two multifamily and condominium buildings, and 210,000 square feet of retail, restaurant and entertainment space. The design team behind Phase II includes more than a dozen architects. Cianbro is the general contractor for construction of the marina component, and Balfour Beatty is handling construction of the office buildings and below-grade parking garages. Other project partners include ER Bacon Development, City Partners, Paramount Development and Triden Development. Madison Marquette, which is owned by international investment firm Capital Guidance and merged with PMRG last …

April 1, 2019

Acquisitions District of Columbia Office Southeast

Penzance Buys Office Building in D.C.’s East End for $85M

by Alex Tostado March 29, 2019

WASHINGTON, D.C. — Penzance, a real estate owner, operator and developer based in Washington, D.C., has bought a 212,780-square-foot office building located at 50 F St. NW in the District’s East End. Washington Business Journal reports Tokyo-based Unizo Holdings Co. sold the property for $85 million, $24.5 million less than when the company bought it in 2016. Developed as part of Capitol Place, 50 F features a 3,500-square-foot conference facility with a 128-person capacity, a ground-floor deli and 134 parking spaces. The asset is situated three blocks from the U.S. Capitol Building and two blocks from Union Station.

March 29, 2019

Arkansas Development Industrial Southeast

Logistics Management Firm to Move into New Industrial Center in Northwest Arkansas

by Alex Tostado March 29, 2019

ROGERS, ARK. — Transplace, a Texas-based provider of transportation management services and logistics technology solutions, will occupy a new operations center in Rogers. Transplace will expand its existing operations center from 80,000 square feet to 150,000 square feet and add hundreds of new employees over the next several years, according to a press release. Construction of the new industrial complex will begin immediately, and Transplace is expected to move in by early 2021. HCH Consulting is developing the project and will serve as landlord. Corgan is the interior architect. Robbie Baty, Bill McClung and Marshall Saviers of Cushman & Wakefield represented Transplace in the lease transaction. Betty McIntosh and Carol Henderson, also of Cushman & Wakefield, provided business incentives services, and Kyle Bramlett of Cushman & Wakefield will help oversee construction management.

March 29, 2019

Affordable Housing Florida Loans Multifamily Southeast

KeyBank Provides $34M Acquisition Loan for Affordable Housing Property in South Florida

by Alex Tostado March 29, 2019

NAPLES, FLA. — KeyBank Real Estate Capital has provided a $34 million Freddie Mac acquisition loan for Waverley Place Apartments, a 300-unit affordable housing property in Naples. The asset consists of 40 two-story apartment buildings situated on 11 acres. A portion of the units will be reserved for individuals and families earning 80 percent of area median income. Fred Dockweiler of KeyBank’s Commercial Mortgage Group originated the non-recourse, fixed-rate loan with a seven-year term, three years of interest-only payments and a 30-year amortization schedule. The borrower was not disclosed.

March 29, 2019

Loans Multifamily South Carolina Southeast Student Housing

Financial Federal Bank Provides $24.3M Acquisition Loan for Student Housing Complex Near University of South Carolina

by Alex Tostado March 29, 2019

COLUMBIA, S.C. — Financial Federal Bank has provided a $24.3 million Fannie Mae acquisition loan for Stadium Suites Apartments in Columbia. The 264-unit, 924-bed complex was built in 2004 and is situated three miles from the University of South Carolina campus. Amenities include a resort-style pool, clubhouse with fitness center, game room, study room, business center, basketball and volleyball courts and a dog park. Rick Wood and Jon Van Hoozer of Financial Federal Bank originated the 10-year, fixed-rate loan with three years of interest-only payments and a 30-year amortization schedule on behalf of the borrower, a single-asset LLC that is a privately owned real estate investment company.

March 29, 2019

Acquisitions Industrial Southeast Virginia

New Home Media Acquires Warehouse in Virginia for $2.6M

by Alex Tostado March 29, 2019

FREDERICKSBURG, VA. — New Home Media has acquired a 39,000-square-foot warehouse located at 50 Joseph Mills Drive in Fredericksburg, for $2.6 million. Mid-Atlantic Associates LLC sold the property, which is situated on 2.5 acres. Virgil Nelson of Cushman & Wakefield | Thalhimer represented the seller in the transaction.

March 29, 2019

Acquisitions Connecticut Multifamily Northeast

IPA Brokers $28.5M Sale of Multifamily Property in Connecticut

by David Cohen March 29, 2019

BEACON FALLS, CONN. — Institutional Property Advisors has arranged the $28.5 million sale of Beacon Mill Village, an eight-building, 188-unit multifamily property in Beacon Falls. Located at Two North Main St., the property was originally constructed between 1851 and 1911 as a mill. The buildings were converted to apartment units in 1988. Victor Nolletti, Eric Pentore of IPA and Was Klockner of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was also undisclosed.

March 29, 2019

Acquisitions Loans Multifamily Northeast Pennsylvania Seniors Housing

BHI, Contemporary Healthcare Capital Arrange $9.5M Acquisition Loan for Skilled Nursing Facility in Pennsylvania

by David Cohen March 29, 2019

CANONSBURG, PA. — BHI and Contemporary Healthcare Capital have arranged $9.5 million in acquisition financing for a 118-bed skilled nursing facility. The property is located in Canonsburg, approximately 18 miles southwest of downtown Pittsburgh. The borrower is Townview Realty LLC. BHI provided a $7.9 million senior loan that includes a $600,000 line of credit. The lender also has guaranteed a $2.1 million earnout feature based on pre-determined performance metrics. Contemporary Healthcare provided the $1.6 million mezzanine portion of the financing. Proceeds of the loans were used for the acquisition and operation of the facility, as well as to pay customary closing costs. This was the first joint loan transaction between BHI and CHC.

March 29, 2019

Acquisitions Industrial Northeast Pennsylvania

Colliers, Max Spann Auctioneers Negotiate $6.5M Sale of 26-Acre Industrial Facility in Philadelphia

by David Cohen March 29, 2019

PHILADELPHIA — Colliers International, in conjunction with Max Spann Auctioneers, has negotiated the $6.5 million sale of an industrial facility in the Nicetown-Tioga section of Philadelphia. Located at 2450 Hunting Park Ave., the property is the former home of metal fabricator Budd Co. The site has been vacant for more than a decade. The property is comprised of six buildings totaling 1,871,911 square feet. Rich Weitzman of Colliers represented the undisclosed seller in the transaction. The buyer was New York-based private equity and development firm Plymouth Group.

March 29, 2019

Development Multifamily Texas

Z Modular to Construct 175-Unit Apartment Property in San Marcos, Texas

by Taylor Williams March 29, 2019

SAN MARCOS, TEXAS — Z Modular LLC will construct Cheatham Street Flats, a 175-unit apartment community in the Central Texas city of San Marcos. The five-story property will offer studio, one-, two- and three-bedroom units with rents starting around $700 per month. The property will also house ground-level restaurant space and will be marketed to students at nearby Texas State University.

March 29, 2019

Newer Posts

Older Posts