Property Type

CBRE Brokers Sale of Two Multifamily Properties Totaling 512 Units in Metro Houston

by Taylor Williams July 18, 2017

HUMBLE, TEXAS — CBRE has arranged the sale of two multifamily properties totaling 512 units in the Houston metro of Humble. The properties are Eagle Crest, a 200-unit community located at 5303 Atascosita Road, and Timberlakes at Atascosita, a 312-unit community located at 18551 Timber Forest Drive. Both properties were built about 15 years ago and feature pools, fitness centers and clubhouses. Clint Duncan and Matt Phillips of CBRE represented the seller, Gaia Real Estate. Houston-based Mosaic Residential purchased both assets for undisclosed prices.

July 18, 2017

Lloyd Jones Capital Acquires 240-Unit Apartment Complex in Seabrook, Texas

by Taylor Williams July 18, 2017

SEABROOK, TEXAS — Lloyd Jones Capital, a Miami-based investment firm, has acquired Regatta Bay Apartments, a 240-unit multifamily complex located at 2555 Repsdorph Drive in Seabrook, a city about 35 miles southeast of Houston. Built in 2003, the three-story property features a mix of one-, two- and three-bedroom units, as well as a resort-style pool, fitness center and business center. FRBH Regatta Bay LLC sold the asset for an undisclosed price.

July 18, 2017

Retail Texas

SACA Brokers Sale of 8,890 SF Shopping Center in San Antonio

by Taylor Williams July 18, 2017

SAN ANTONIO — San Antonio Commercial Advisors (SACA) has brokered the sale of Oak Grove Square Shopping Center, an 8,890-square-foot shopping center located at 3203 Nacogdoches Road in San Antonio. The property was 75 percent leased at the time of sale to tenants such as Lefty’s Barbers, Primo Tax and Mobilex USA. Bradley Suttle of SACA represented the buyer, a California-based investor, in the transaction. Other terms of sale were not released.

July 18, 2017

Hospitality Loans Texas

Mission Capital Arranges $15.2M Acquisition Loan for 120-Room Hotel in Houston

by Taylor Williams July 18, 2017

HOUSTON — Mission Capital Advisors has arranged a $15.2 million acquisition loan for Staybridge Suites Houston — Medical Center, a newly constructed, 120-room hotel located at 9000 S. Main St. in Houston. Philip Justiss, Alex Draganiuk and Lexington Henn of Mission Capital arranged the recourse loan through IberiaBank Corp. on behalf of the borrower, St. Louis-based Midas Hospitality.

July 18, 2017

Loans Multifamily Texas

Dougherty Closes $14.8M Acquisition Loan for 168-Unit Apartment Community in San Marcos

by Taylor Williams July 18, 2017

SAN MARCOS, TEXAS — Dougherty Mortgage has closed a $14.8 million Fannie Mae loan for the acquisition of Park Hill Apartment Homes, a 168-unit multifamily community in San Marcos. The 12-year loan, which features a 30-year amortization schedule and three years of interest-only payments, was arranged through Old Capital Lending on behalf of the borrower, a partnership between Park Hill SM LLC and Prudential Investment Properties LLC.

July 18, 2017

Midwest Missouri Multifamily

CA Ventures, White Oak Open 250-Unit Luxury Apartment Complex in Suburban St. Louis

by Kristin Harlow July 18, 2017

CLAYTON, MO. — CA Ventures and White Oak Realty Partners have opened Two Twelve Clayton, a 250-unit luxury apartment complex in Clayton, a western suburb of St. Louis. The 26-story building is located at 212 S. Meramec Ave. Two Twelve includes studio, one-, two- and three-bedroom units ranging from 592 to 1,366 square feet. Monthly rents start at $1,706 and rise to $4,415 for the largest units. The property features 9,300 square feet of amenity space, including a rooftop deck with a resort-inspired pool, fire pit and outdoor dining area with grills, fitness center, yoga studio and resident lounge. First move-ins began earlier this month. The Habitat Co. is managing the property and overseeing leasing.

July 18, 2017

Illinois Midwest Multifamily

$151M Origin Investments’ Fund III Targets Value-Added Properties

by Kristin Harlow July 18, 2017

CHICAGO — Origin Investments has raised $151 million from 450 investors through its third private equity real estate fund, paving the way for it to acquire $600 million in value-added commercial and multifamily properties. Since July 2016, the now closed and fully subscribed Origin Investments’ Fund III has spent $38 million to acquire eight assets, including The Clayson, a 448-unit apartment complex in Palatine, Ill. The eight properties are valued in excess of $257 million. The investment strategy for the third fund mirrors Chicago-based Origin Investments’ first two funds, which are currently on track to generate more than a 24 percent annualized net return. When fully invested, Origin Investors’ Fund III is expected to own more than 15 multifamily and office properties in eight markets across the United States.

July 18, 2017

Industrial Loans Michigan Midwest

Cohen Financial Arranges $4M Refinancing for Industrial Property in Suburban Detroit

by Kristin Harlow July 18, 2017

ROMULUS, MICH. — Cohen Financial, a division of SunTrust Bank, has arranged a $4 million loan for the refinancing of a single-tenant industrial property in Romulus, a western suburb of Detroit and home to Detroit Metropolitan Airport. The 121,500-square-foot building is 100 percent leased to a user that primarily services the automotive industry. Cathy Bronkema of Cohen Financial arranged the 15-year loan, which includes a 15-year amortization schedule. A life insurance company provided the loan.

July 18, 2017

Illinois Midwest Retail

Missner Group to Renovate 40,000 SF Subaru Dealership in Chicago

by Kristin Harlow July 18, 2017

CHICAGO — The Missner Group has been selected to renovate the Berman Mid City Subaru car dealership, located at 4330 and 4444 Irving Park Road in Chicago. Renovations will be made to two buildings, and include improvements to both the office and service areas of the dealership. The project will encompass 40,000 square feet, and include a new, 22,000-square-foot service area. This new space will feature a customer lounge, café and service bays. The Missner Group will also install a new HVAC system. Robert Papineau will lead the project on behalf of The Missner Group with Steve Bulger serving as project superintendent. Becker Architects is providing the architectural services. The project is slated for completion late this fall.

July 18, 2017

Illinois Midwest Office

Ankura Consulting Signs 9,500 SF Office Lease in Chicago

by Kristin Harlow July 18, 2017

CHICAGO — Ankura Consulting has signed a 9,5000-square-foot office lease at 1 N. Wacker Drive in Chicago. The Washington, D.C.-based consulting firm provides advisory and expert services for corporate turnaround and restructurings, forensic investigations, compliance and regulatory government issues and cybersecurity. Ankura is building out its new office space on the 19th floor of the building while working out of temporary space on the 29th floor. The company is scheduled to occupy its new permanent space this fall. Kyle Kamin and Dan Persa of CBRE represented Ankura in the lease transaction, while Brad Despot of Avison Young represented the building owner, Irvine Cos.

July 18, 2017

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