Property Type

Stream Realty Partners Negotiates 411,460 SF Industrial Lease in Houston

by Taylor Williams August 31, 2018

HOUSTON — Stream Realty Partners has negotiated a 411,460-square-foot industrial lease at Northwest Logistics Center in Houston with Goodman Manufacturing Co. LP, a producer of heating and air conditioning systems. The transaction is the final step in Stream Realty Partners’ “three-step” process, whereby the company develops, leases and sells a project. The company had a sale agreement with the undisclosed buyer before construction commenced. Northwest Logistics Center property features a cross-dock configuration, 32-foot clear heights and ample trailer storage. Seth Koschak of Stream Realty Partners represented Goodman in the lease negotiations. The Houston-based manufacturer plans to move into the building during the fourth quarter.

August 31, 2018

Acquisitions Multifamily Texas

American Landmark Acquires New, 246-Unit Apartment Community in Houston

by Taylor Williams August 31, 2018

HOUSTON — Florida-based multifamily owner-operator American Landmark has acquired Haven at Liberty Hills, a 246-unit multifamily community in Houston. The Class A property was delivered earlier this year and offers one- and two-bedroom units. Amenities include a pool, lifestyle center and resident game lounge. The new ownership plans to add a dog park, summer kitchen and fire pits in the pool area as part of a nearly $1 million capital improvement plan. The seller was not disclosed. The transaction marks American Landmark’s eighth multifamily acquisition in Houston and 18th in Texas.

August 31, 2018

Acquisitions Multifamily Texas

Internacional, Dome Equities Buy 208-Unit Apartment Community in Metro San Antonio

by Taylor Williams August 31, 2018

UNIVERSAL CITY, TEXAS — A partnership between San Antonio-based Internacional Realty Inc. and New York-based Dome Equities has purchased Sunrise Canyon Apartment Homes. The 208-unit property is located in Universal City, about 18 miles northeast of downtown San Antonio. Amenities include a fitness studio, internet café, business center, pool and community lounge. Mark Brandenburg of JLL secured an undisclosed amount of acquisition financing for the deal through Freddie Mac

August 31, 2018

Acquisitions Multifamily Seniors Housing Texas

Greystone Arranges Sale of 162-Unit Seniors Housing Asset in Frisco

by Taylor Williams August 31, 2018

FRISCO, TEXAS — Greystone Real Estate Advisors has arranged the sale of The Aspens at Wade Park, a 162-unit, age-restricted residential community located in the northern Dallas metro of Frisco. Built in 2017, the property includes a resort-style pool and spa, fitness center, movie theater, salon/barbershop, library and outdoor barbeque area. Texas-based Aspens Senior Living sold the property to a joint venture between The Carlyle Group and Greystar. Cody Tremper and Mike Garbers of Greystone represented the seller in the transaction.

August 31, 2018

Acquisitions Retail Texas

NAI Partners Acquires 40,300 SF Retail Center in Metro Houston

by Taylor Williams August 31, 2018

KATY, TEXAS — NAI Partners, through its Investment Fund II vehicle, has acquired Royal Montreal Plaza, a 40,300-square-foot retail center in Katy, a western suburb of Houston. The property was 97 percent leased at the time of sale to a mix of regional and local tenants. Andrew Pappas and Adam Hawkins of NAI Partners negotiated the acquisition. Todd Carlson of Hunington Properties represented the undisclosed seller. Green Bank provided debt for the transaction.

August 31, 2018

Loans Multifamily Northeast Pennsylvania Seniors Housing

SunTrust, Ziegler Arrange $71M Loan for Quality Life Services Expansion in Pennsylvania

by David Cohen August 31, 2018

BUTLER, PA. — SunTrust has served as joint lead arranger and Ziegler as placement agent for a $71 million refinancing to Quality Life Services. The Butler-based healthcare services company will use the funds for an expansion of its communities, which include skilled nursing facilities and continuing care retirement communities (CCRC). The first renovation project is already underway at Quality Life Services – Sugarcreek, a CCRC in Worthington. The project is slated for completion in February 2019. When the projects are completed, all 10 of Quality Life Services’ skilled nursing facilities will be renovated and expanded. Additionally, the company will improve upon its home health and hospice divisions.

August 31, 2018

Acquisitions Mixed-Use Northeast Pennsylvania

Marcus & Millichap Negotiates Sale of 4,568 SF Mixed-Use Property in Philadelphia

by David Cohen August 31, 2018

PHILADELPHIA — Marcus & Millichap has negotiated the sale of a 4,568-square-foot mixed-use property in Philadelphia. The building, which is located at 262 S. 16th St., sold for $1.2 million or approximately $279.11 per square foot. Lawrence Gariano, Matthew Bess and Mark Taylor of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was a limited liability company. The property is located two blocks east of Philadelphia’s Rittenhouse Square.

August 31, 2018

Acquisitions Connecticut Northeast Office

HK Group Orchestrates $1.2M Sale of Office Property in Westport, Connecticut

by David Cohen August 31, 2018

WESTPORT, CONN. — The HK Group has orchestrated the $1.2 million sale of a two-building, 5,571-square-foot office property in Westport. The complex is fully leased to a tenant roster that includes luxury homes builder Milton Development, an Allstate Insurance Agency and Backspace Westport. The seller was Argentini Corp. of Sarasota, Florida, which acquired the property in 1982. Millennium Brothers LLC. purchased the property as part of a 1031 exchange.

August 31, 2018

Leasing Activity New Jersey Northeast Office

Sheldon Gross Realty Secures 21,000 SF of Office Leases in Freehold, New Jersey

by David Cohen August 31, 2018

FREEHOLD, N.J. — Sheldon Gross Realty has secured five leases totaling 21,000 square feet at the Fairfield Corporate Park in Freehold. The 165,000-square-foot office park is located at 920-922 Route 33. The five companies that signed leases are Declarations Inc. (7,425 square feet); 1-800 Junk (3,600 square feet); Utiliquest LLC (3,600 square feet); Garcia Sequeira LLC (3,209 square feet); and Stylecare Salon Services LLC (3,209 square feet). Glenn Jaffe, Jonathan Glick, and Matthew Leonelli of Sheldon Gross Realty represented the undisclosed landlord in the lease transactions.

August 31, 2018

Development Georgia Industrial Southeast

German Manufacturer to Build $45M Facility in Northeast Georgia

by Camren Skelton August 31, 2018

BANKS COUNTY, GA. — SELIT North America, a manufacturer of polystyrene foams and the U.S. affiliate of SELIT Europe, will invest $45 million to build a new manufacturing facility in northeast Georgia’s Banks County. The new facility will create 100 manufacturing and administrative positions. Based in Germany, SELIT Europe produces foams for acoustic and thermal insulation of floating flooring solutions like laminate, parquet and vinyl floors. SELIT North America is family-owned and holds the largest market share in its North American niche market. SELIT’s products are designed for top-tier flooring manufacturers, as well as do-it-yourself customers. A construction timeline for the Banks County facility was not disclosed.

August 31, 2018

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