Property Type

California Investment Firm Acquires 445,322 SF Office Park in Austin

by Taylor Williams August 24, 2018

AUSTIN, TEXAS — An affiliate of The Luzzatto Co. Inc. (TLC), a Los Angeles-based investment firm, has acquired Austin Oaks, a 445,322-square-foot office park in central Austin. Built throughout the 1970s and 1980s, the 12-building property is situated on 31.4 acres and houses 140 tenants in industries such as financial services, healthcare, legal services and technology. TLC will reposition the property to add more green space, as well as a café and fitness center. HFF represented the seller, Dallas-based Spire Realty Group LP, in the transaction and assisted TLC in securing a 10-year acquisition loan through a life insurance company.

August 24, 2018

Thompson-10-Logistics-Center-Baytown-Texas

Development Industrial Texas

IDV, Sealy Break Ground on 390,000 SF Industrial Facility in Metro Houston

by Taylor Williams August 24, 2018

BAYTOWN, TEXAS — A partnership between Houston-based Investment & Development Ventures LLC (IDV) and Sealy & Co. has broken ground on Thompson 10 Logistics Center, a 390,000-square-foot industrial facility in metro Houston. The project, which is being developed on a speculative basis, will be situated on 26.8 acres at the intersection of Interstate 10 and Thompson Road in Baytown, an eastern suburb. Thompson 10 Logistics Center will include a 130,074-square-foot front-load building and a 260,148 square-foot cross-dock building, each with 32-foot clear heights. Completion is slated for spring 2019. Tom Lynch and Mark Redlingshafer of CBRE represented IDV in its acquisition of the land and in securing an equity partner in Sealy. CBRE will also handle leasing of the property.

August 24, 2018

Acquisitions Retail Texas

Gordon Partners Purchases Two Shopping Centers Totaling 170,000 SF in Texas

by Taylor Williams August 24, 2018

ARLINGTON AND ODESSA, TEXAS —Gordon Partners, a Houston-based full-service firm, has purchased two shopping centers totaling 170,000 square feet. Green Oaks Plaza in Arlington totals 100,000 square feet and Sherwood Village in Odessa totals 70,000 square feet. The company plans to remodel both properties beginning in the first quarter of 2019. The sellers were not disclosed.

August 24, 2018

Acquisitions Multifamily Texas

Eastern Union Arranges $24M Acquisition Loan for Dallas Apartment Community

by Taylor Williams August 24, 2018

DALLAS — Commercial mortgage brokerage firm Eastern Union has arranged a $24 million acquisition loan for Magnolia Creek, a 430-unit multifamily community located at 7272 Marvin D. Love Freeway in Dallas. The transit-oriented property features a pool, fitness center, outdoor grilling area and a playground. Marc Belsky of Eastern Union arranged the financing through Arbor Realty Trust Inc. on behalf of the borrower, Ashcroft Capital.

August 24, 2018

Acquisitions Retail Texas

EDGE Brokers Sale of 84,717 SF Retail Center in Houston

by Taylor Williams August 24, 2018

HOUSTON — EDGE Realty Capital Markets has brokered the sale of Cullen Plaza, an 84,717-square-foot retail center in Houston. Fiesta Mart anchors the property, which also houses a mix of national and regional retailers such as Family Dollar, Taco Bell, T-Mobile and Louisiana Famous Fried Chicken. Kevin Holland of EDGE represented AEW/Weingarten in the disposition of the property. Additional terms of sale were not disclosed.

August 24, 2018

Loans New York Northeast Retail

JLL Arranges $221.8M Bridge Loan for Retail Portfolio in Brooklyn

by David Cohen August 24, 2018

NEW YORK CITY — JLL has arranged a $221.8 million bridge loan through JP Morgan to finance a retail portfolio in the Williamsburg neighborhood of Brooklyn. Jonathan Schwartz, Aaron Appel, Michael Diaz and Sean Baillie of JLL secured the three-year, interest-only loan on behalf of owners RedSky Capital and JZ Capital Partners. The portfolio consists of 15 retail properties located on North 6th Street and Bedford Avenue. Three of the properties on North 6th Street are fully leased to a tenant roster that includes Urban Outfitters, Vans, Everlane and Aland. The remaining properties are in the process of being improved and leased.

August 24, 2018

Loans Multifamily New Jersey Northeast

Berkadia Secures $51.9M Acquisition Loan for Multifamily Community in New Jersey

by David Cohen August 24, 2018

ATLANTIC HIGHLANDS, N.J. — Berkadia has secured a $51.9 million acquisition loan for Thousand Oaks Village, a garden-style multifamily community in Atlantic Highlands. Bob Falese and Jeff Heath of Berkadia secured the financing through Freddie Mac on behalf of the borrower, Delaware-based 165 Thousand Oaks Drive LLC. The borrower plans to renovate and upgrade all units at the property. Berkadia utilized the Freddie Mac Mod Rehab Loan Program, allowing the borrower to have a floating rate during the renovation period that will automatically convert to a fixed rate upon the completion of renovations. Located at 165 Thousand Oaks Drive, Thousand Oaks Village features one-, two- and three-bedroom floor plans. Amenities include air conditioning, large closets, hardwood floors and private patios.

August 24, 2018

Acquisitions New York Northeast Retail

Marcus & Millichap Negotiates $46.7M Sale of Retail Building in Soho

by David Cohen August 24, 2018

NEW YORK CITY — Marcus & Millichap has arranged the sale of a vacant, five-story retail building in the Soho neighborhood of Manhattan for $46.7 million. Henri Kessler and Nelson Lee of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was also a private investor. Located at 446-448 Broadway, the cast-iron building was developed by architect John B. Snook in 1877.

August 24, 2018

Acquisitions Massachusetts Multifamily Northeast

Yannios Real Estate Brokers $3.5M Sale of Apartment Community Near Boston

by David Cohen August 24, 2018

HAVERHILL, MASS. — Yannios Real Estate Investment Sales has brokered the $3.5 million sale of Highland Maple Apartments, a 39-unit apartment community built in 1850. The property, which comprises two three-story buildings, is located at 3-5 Maple Ave. in Haverhill, 35 miles north of Boston. Yannios Real Estate represented the seller, 3-5 Maple Ave. LLC, in the transaction. The buyer was Kuma Realty.

August 24, 2018

Acquisitions Multifamily Northeast Pennsylvania

Dalzell Capital Partners Acquires Multifamily Portfolio in Philadelphia for $18.7M

by David Cohen August 24, 2018

PHILADELPHIA — Real Estate investment firm Dalzell Capital Partners has acquired a four-property multifamily portfolio in Center City, Philadelphia for $18.7 million. The 65-unit portfolio consists of all newly built or renovated communities. The properties are The Bradford, a 26-unit property located at 507 S. 8th St.; Queen Village Lofts, a 16-unit former school conversion located at 427 Monroe St.; 1311 Spruce, a 16-unit property located at 1311 Spruce St.; and 1310 Spruce, a seven-unit property located directly across the street from 1311 Spruce at 1310 Spruce St. Alterra Property Group sold the portfolio to Dalzell Capital Partners.

August 24, 2018

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