Property Type

Fisher Brothers Signs Turkish Consulate to 20,000 SF Lease in Manhattan

by David Cohen June 29, 2018

NEW YORK CITY — Fisher Brothers has signed the Turkish Consulate General in New York to a nearly 20,000-square-foot lease at 605 Third Ave., a 1.1 million square-foot office tower in Manhattan. The Turkish Consulate will occupy the entire 30th floor of the building. Louis D’Avanzo and Maria Travlos of Cushman & Wakefield represented the Turkish Consulate in the transaction. Since completing a $25 million capital improvement program at 605 Third Avenue, Fisher Brothers has executed 260,000 square feet of leases at the tower. Originally built by Fisher Brothers in 1963, the 44-story building is certified LEED Gold by the U.S. Green Building Council with a tenant roster that includes Univision, AECOM, David Hutcher & Citron LLP and the United Nations Population Fund.

June 29, 2018

Acquisitions Industrial Self-Storage Texas

SkyView Brokers Sale of 784-Unit Self-Storage Facility in San Antonio

by Taylor Williams June 29, 2018

SAN ANTONIO — Tampa-based SkyView Advisors has brokered the sale of a 784-unit Extra Space Storage facility in San Antonio. Situated on 3.3 acres, the property totals 88,875 net rentable square feet of climate-controlled space. Ryan Clark of Skyview Advisors represented the seller in the transaction. The buyer and seller were not disclosed.

June 29, 2018

Acquisitions Healthcare Office Texas

CBRE Arranges Sale of Two Office/Medical Buildings Totaling 170,111 SF in Dallas

by Taylor Williams June 29, 2018

DALLAS — CBRE has arranged the sale of Lakewood Towers, two office/medical buildings totaling 170,111 square feet in East Dallas. The property, which includes a five-level parking garage, was recently renovated and includes a tenant lounge and a conference center. John Alvarado, Gary Carr, Robert Hill, Eric Mackey, Evan Stone and Jared Chua of CBRE represented the seller, Highland Lakewood LLC, in the sale. An affiliate of Dallas-based Caddo Holdings acquired the property for an undisclosed price. Lakewood Towers was 99 percent leased at the time of sale to tenants such as Wells Fargo, Texas Neurology and Health Texas.

June 29, 2018

Acquisitions Industrial Self-Storage Texas

Merit Hill Acquires 782-Unit Self-Storage Facility in Metro Houston

by Taylor Williams June 29, 2018

BAYTOWN, TEXAS — New York-based Merit Hill Capital has acquired Safe-Keeping Self Storage, a 782-unit facility located in the eastern Houston metro of Baytown. The property totals 76,485 net rentable square feet and offers climate-controlled units, electronic access control and 24-hour surveillance. Steve Mellon and Brian Somoza of JLL represented the seller, Weiss Realty Group Inc., in the transaction. The property was 93 percent leased at the time of sale.

June 29, 2018

Loans Multifamily Texas

Hunt Mortgage Finances Acquisition of 160-Unit Apartment Property in Austin

by Taylor Williams June 29, 2018

AUSTIN, TEXAS — Hunt Mortgage Group has provided a $12.6 million first mortgage bridge loan to enable the acquisition of an undisclosed, 160-unit multifamily community in Austin. The garden-style property was built in 1984 and consists of 10 three-story buildings and a leasing office. The 36-month loan was structured with floating-rate debt, part of which will be used to implement a capital improvement plan. The borrower was not disclosed.

June 29, 2018

Acquisitions Northeast Office Pennsylvania

SVN Imperial Realty Negotiates $6.1M Sale of Office Building in Bethlehem

by David Cohen June 29, 2018

BETHLEHEM, PA. — SVN Imperial Realty has negotiated the sale of 95 Highland Ave., a three-story office building in Bethlehem. The 72,923-square-foot property was constructed in 1985 and is currently 75 percent occupied. Tom Skeans of SVN Imperial Realty represented the undisclosed seller, in the transaction. DLP Realty represented the undisclosed buyer. The property was sold through online CRE auction marketplace Ten-X.

June 29, 2018

Connecticut Loans Multifamily Northeast Property Type Seniors Housing

Contemporary Healthcare Capital Arranges $1.5M Mezzanine Loan for Skilled Nursing Acquisition in Connecticut

by David Cohen June 29, 2018

WINDHAM, CONN. — Contemporary Healthcare Capital has arranged a $1.5 million mezzanine loan, part of a $6.2 million total acquisition financing for a skilled nursing facility in Windham. Located approximately midway between Hartford and Providence, R.I., Douglas Manor includes 90 licensed skilled nursing beds. The borrower, affiliates of Ryders Healthcare Management, is acquiring the property out of receivership. The new owner plans to use the financing package to implement $1.6 million in capital improvements to the property. The senior lender on the transaction was CoastalStates Bank.

June 29, 2018

Acquisitions Multifamily Washington Western

Security Properties Buys 248-Unit Multifamily Property Near Olympia for $54.5M

by Amy Works June 29, 2018

LACEY, WASH. — Security Properties, along with a university endowment, has acquired Marq on Martin, a multifamily property located at 8545 Litt Drive SE in Lacey, a suburb of Olympia. An undisclosed seller sold the property for $54.5 million. Constructed in 2017, the property consists of 248 apartment units across 10 residential buildings. Situated on 12 acres, the property features a mix of one- and two-bedroom floor plans with an average unit size of 831 square feet. With this acquisition Security Properties now owns 18 assets totaling more than 4,000 units in the Puget Sound marketplace. Security Properties Residential, an affiliate of Security Properties, will manage the property.

June 29, 2018

Development Multifamily Seniors Housing Washington Western

Alliance Residential Launches Active Adult Brand, Breaks Ground on Seniors Housing Community Near Seattle

by Amy Works June 29, 2018

TUKWILA, WASH. — Alliance Residential Co., one of the largest multifamily developers and managers in the country, has broken ground on Marvelle at Southcenter, an active adult community in the Seattle suburb of Tukwila. The 166-unit community marks the launch of Alliance’s active adult brand, Marvelle. The developer noted that baby boomer demand has been strong at its standard multifamily communities, leading it to start building age-restricted properties. Besides the age restrictions, the Marvelle community will also offer 13,000 square feet of indoor amenity space, more than double the common space at its standard apartment complexes. It is also a transit-oriented development and located near the Southcenter area’s many restaurants, retail shops and medical facilities. Urbal Architecture designed the seven-story, 235,828-square-foot property. Apartments range from 500 square feet to more than 1,200 square feet. The community is scheduled to open in fall 2019.

June 29, 2018

Acquisitions Arizona Industrial Office Retail Western

Dunbar Real Estate Acquires 134,886 SF Business Park in Tempe, Arizona

by Amy Works June 29, 2018

TEMPE, ARIZ. — El Segundo, Calif.-based Dunbar Real Estate Investment Management purchased Mill Avenue Business Park, located at 40 E. Baseline Road, 5030 S. Mill Ave. and 5005-5025 S. Ash Ave. in Tempe. San Juan Capistrano, Calif.-based Birtcher Anderson Realty sold the property for $14.2 million. Bob Buckley, Steve Lindley and Tracy Cartledge of Cushman & Wakefield Phoenix negotiated the transaction on behalf of the seller. Built in 1983, Mill Avenue Business Park features 134,886 square feet of office, industrial and retail space. The property recently underwent a $1.3 million renovation. At the time of sale, the asset was 87.7 percent occupied.

June 29, 2018

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