SAN ANTONIO — Canadian investment firm Western Wealth Capital (WWC) has acquired Sedona Canyon, a 296-unit multifamily community located at 4620 Thousand Oaks Drive in northeast San Antonio. The sales price was approximately $19.5 million. Built in the 1980s, the property offers amenities such as a pool, fitness center, tennis court, business center and resident clubhouse. The sale marks WWC’s third acquisition of a multifamily asset in San Antonio.
HOUSTON — HFF has brokered the sale of 5757 Woodway, a 162,188-square-foot office property situated on four acres in Houston’s Galleria neighborhood. Dan Miller and Marty Hogan of HFF represented the seller, a joint venture sponsored by Fuller Realty Partners and Harbert Management Corp., and procured the buyer, Houston-based Braun Enterprises. The property was 70 percent leased at the time of sale to tenants spanning the finance, healthcare, communication, technology and education sectors.
AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has arranged an office lease at Regency Office Center in Austin. Mood Media, a provider of interactive mobile marketing solutions, will occupy 55,000 square feet at the property, which will serve as its new headquarters. ECR represented the landlord in the lease negotiations. Sam Pruitt and Jeff Sheehan of Site Selection Group represented Mood Media.
NEW YORK CITY — Extell Development Co. closed on a $1.1 billion construction loan for Central Park Tower on Dec. 29, 2017. The financing package comprised a $900 million senior construction loan syndication led by J.P. Morgan and a $235 million preferred equity loan from a hedge fund. Situated on 57th Street, the 1,550-foot Central Park Tower will be the tallest residential building in the world. Designed by Adrian Smith + Gordon Gill Architecture, the building will feature 179 residences, stratospheric views and a full-service amenity package, as well as a seven-story, 300,000-square-foot Nordstrom department store. Extell is co-developing Central Park Tower with SMI USA, the U.S. subsidiary of Shanghai Municipal Investment.
STAMFORD, CONN. — Building and Land Technology (BLT) is developing Harbor Landing, the redevelopment and rebranding of Stamford Landing and Davenport Landing in Stamford. The project will connect the Stamford Landing office complex and the Davenport Landing boatyard and residential properties. The newly connected waterfront property will be a combination of the former Stamford Landing, a 200,000-square-foot waterfront office complex, and the former Davenport Landing, featuring 218 residential rental units, two restaurants, a full-service boatyard operated by The Hinckley Co., a boardwalk and a marina with more than 120 available slips. The residential portion of the property is slated to begin leasing early this year. On-site amenities at the property include security, a shuttle to the train, a fitness center with yoga studio, marina slips, and two restaurants, Crab Shell and Prime. BLT has retained RHYS as leasing agent for the property.
WEST ORANGE, N.J. — Marcus & Millichap has brokered the sale of Skyline Plaza, an office building located at 414 Eagle Rock Ave. in West Orange. A private investor sold the property to an undisclosed buyer for $8.8 million. The three-story, 60,000-square-foot property was 92 percent occupied at the time of sale. Fahri Ozturk and Kim Kretowicz of Marcus & Millichap represented the seller in the transaction.
EAST HARTFORD, CONN. — Chozick Realty has arranged the sale of Turtle Creek Apartments, a multifamily property located in East Hartford. Up Realty LLC acquired the property from Turtle Creek Realty for $8 million, or $66,666 per unit. Constructed in 1968, the 120-unit property features a mix of studio, one- and two-bedroom layouts, an indoor swimming pool, a steam room, a sauna, a commercial kitchen and dining room for resident functions, an indoor running track, a miniature golf course, fitness rooms, a billiards room, a media room and a library. Steve Pappas of Chozick Realty represented the seller and buyer in the deal.
NEW YORK CITY — TerraCRG has arranged the sale of a development site located at 52-56 Ainslie St. in Brooklyn’s Williamsburg neighborhood. An undisclosed buyer acquired the 4,950-square-foot site for $5.1 million. The site offers mixed zoning, allowing for a development project ranging in size from 13,365 square feet to 17,820 square feet depending on use. Ofer Cohen, Dan Marks, Matt Trotter, Peter Matheos and David Algarin of TerraCRG brokered the transaction. The name of the seller was not released.
CHICAGO — Draper and Kramer Inc. has broken ground on a boutique apartment building along Chicago’s lakefront. The eight-story rental property, which will be situated on the last undeveloped site on North Lake Shore Drive in the Gold Coast neighborhood and known as 61 Banks Street, will feature a mix of 58 two- and three-bedroom residences. Designed by Larry Booth of Booth Hansen, the building will be topped by a green roof with an outdoor terrace as well as an enclosed rooftop amenity space. Seven “maisonette” residences, which feature two-story units with street-level entrances and private terraces, will flank the ground floor of the property. Jacobs/Ryan Associates is designing the landscaped areas while Leopardo Cos. is serving as the project’s general contractor. Two-bedroom units will average 1,700 square feet while three-bedroom units will average 2,400 square feet. Monthly rents are expected to range from $5,500 to over $12,000. Residents will have access to a full-time concierge and 24-hour valet parking.
ST. LOUIS — JNS and HDA Architects have been selected by real estate development company HomeBase to design an AC Hotel by Marriott in St. Louis. The 192-room hotel will feature 1,000 square feet of meeting space. The ground floor will include a common area with a bar, limited-menu restaurant and “European-style” breakfast for guests with French croissants, fruits, cheeses and egg tarts. AC Hotels are European-inspired hotels with several international locations.
