Property Type

Castle Lanterra Properties Buys 280-Unit Multifamily Community in Westminster, Colorado

by Nellie Day November 14, 2017

WESTMINSTER, COLO. — Castle Lanterra Properties has purchased the 280-unit Sunset Ridge Townhomes in Westminster for an undisclosed sum. The community is located at 8300 Sheridan Blvd. Sunset Ridge was built in 1972. It was 95 percent occupied at the time of sale. Community amenities include an updated clubhouse, Wi-Fi Café, lounge area, fireplace, zero entry swimming pool, barbecue grills, dog park, parking lot and playground. ARA Newmark represented the seller, WillMax Capital Management, in this transaction.

November 14, 2017

California Multifamily Seniors Housing Western

Sunrise Opens 83-Unit Assisted Living Community in Bay Area

by Nellie Day November 14, 2017

PLEASANTON, CALIF. — Sunrise Senior Living has opened the doors on Sunrise of Pleasanton, an 83-unit assisted living and memory care community in the Bay Area city of Pleasanton. The two-story, 63,800-square-foot community can serve up to 103 residents. It features easy access to ValleyCare Medical Center. Sunrise recently opened another seniors housing community near San Diego, and plans to open 10 communities over the next two years. Based in McLean, Va., Sunrise Senior Living operates 322 communities in the United States, Canada and the United Kingdom totaling 28,700 units.

November 14, 2017

Industrial Texas

FCL Builders Breaks Ground on 877,230 SF Distribution Center for Ashley Furniture in Mesquite

by Taylor Williams November 14, 2017

MESQUITE, TEXAS — Illinois-based design/build firm FCL Builders Inc. has broken ground on an 877,230-square-foot distribution center for Ashley Furniture in Mesquite. The facility will be located at 4000 E. Scyene Road near several major thoroughfares, including Interstates 635 and 20, as well as U.S. Highway 80. Completion of the facility, which is expected to create about 170 new jobs, is slated for September 2018.

November 14, 2017

Hospitality Loans Midwest Wisconsin

Blue Vista Finance Provides $19.5M Refinancing Loan for Hotel in Milwaukee Suburb

by Kristin Harlow November 14, 2017

BROOKFIELD, WIS. — Blue Vista Finance LLC has provided a $19.5 million loan for the refinancing of the Sheraton Milwaukee Brookfield Hotel in the Milwaukee suburb of Brookfield. The six-story hotel features 389 rooms. Built in 1972, the hotel underwent a $4.3 million renovation in 2014. The property features more than 19,000 square feet of meeting space, a 24-hour business center, fitness center, indoor and outdoor heated pools and The Craft Room restaurant. Located at 375 South Moorland Road, the hotel is just off I-94 and adjacent to the Brookfield Square Mall. Scott Hall, Jeff Bucaro and Aaron Lapping of HFF arranged the three-year loan on behalf of the borrower, LLJ Ventures. Loan proceeds will be used to pay off the hotel’s existing loan and to fund additional strategic capital improvements.

November 14, 2017

Illinois Midwest Office

M & J Wilkow Sells 174,098 SF Office Complex in Lombard, Illinois

by Kristin Harlow November 14, 2017

LOMBARD, ILL. — M & J Wilkow has sold a 174,098-square-foot office complex in Lombard, 20 miles west of Chicago, for an undisclosed price. A joint venture between Red Rock and Lincoln Property Co. purchased the property, which is located at 701 E. 22nd St. M & J Wilkow acquired the office complex in September 2014 with a fund managed by DRA Advisors. The property was 81 percent leased at the time. The company renovated the lobby atrium, corridors and fitness center. The property was 97 percent leased at the time of sale.

November 14, 2017

Restaurant Retail Texas

Buffalo Bayou to Open 28,000 SF Brewery, Restaurant in Houston

by Taylor Williams November 14, 2017

HOUSTON — Buffalo Bayou Brewing Co. will open a three-story, 28,000-square-foot brewery and restaurant at 2101 Summer St. in Houston’s First Ward. Houston-based Method Architecture will be designing the property, which will offer a rooftop beer garden with views of downtown Houston and a full-service kitchen. Construction is currently slated to begin this winter, with a target completion date of late 2018. A general contractor for the project has not yet been selected.

November 14, 2017

Illinois Midwest Multifamily

Lowe Enterprises Investors Acquires 400-Unit Apartment Property in St. Charles, Illinois

by Kristin Harlow November 14, 2017

ST. CHARLES, ILL. — Lowe Enterprises Investors (LEI) has acquired AMLI at St. Charles in the Chicago suburb of St. Charles for an undisclosed price. Now called Ascend St. Charles, the 400-unit apartment property is located at 100 Lakeside Drive. Built in 2000, the property features 20 three-story buildings on 25 acres. The buildings include a mix of one- and two-bedroom units. Amenities include a pool with sundeck, clubhouse, sand volleyball court, business center, multimedia center and fitness center. Andy Sands of LEI led the acquisition team. Moran & Co. represented AMLI in the transaction, while Hunt Mortgage Group arranged acquisition financing. Greystar has been retained to provide property management services.

November 14, 2017

Midwest Minnesota Retail

Venture Commercial Brokers Sale of 23,184 SF Retail Building in Rogers, Minnesota

by Kristin Harlow November 14, 2017

ROGERS, MINN. — Venture Commercial Real Estate has brokered the sale of a 23,184-square-foot retail building in Rogers, about 25 miles northwest of Minneapolis. The sales price was not disclosed. The property is located on 1.7 acres at 20850 Rogers Drive. Clay Mote and Charlotte Cooper of Venture represented the seller, an investment partnership. The tenant, Northern Tool + Equipment, will continue to operate a store at the property. Realty Income Corp. purchased the asset.

November 14, 2017

Industrial Midwest Ohio

Reichle Klein Group Negotiates $1M Sale of Industrial Flex Building in Toledo, Ohio

by Kristin Harlow November 14, 2017

TOLEDO, OHIO — Reichle Klein Group has negotiated the sale of a 26,560-square-foot industrial flex building in Toledo for $1 million. The property sits on 2.7 acres at 7319 W. Central Ave. The building was formerly home to Star Door & Sash Co. Robert Hawkins of Reichle Klein Group represented the seller, 7319 West Central LLC. Jason Westendorf of Reichle Klein Group represented the undisclosed buyer.

November 14, 2017

Retail Texas

HFF Arranges Sale of 35,530 SF Retail Strip Center in Northwest Houston

by Taylor Williams November 14, 2017

HOUSTON — HFF has arranged the sale of Eldridge Lakes Town Center, a 35,530-square-foot retail strip center in northwest Houston. Built in 2003 and shadow-anchored by Kroger, the property was 93 percent leased at the time of sale to tenants such as State Farm, Subway, Metro PCS, Spectrum Eye Care and Little Caesar’s Pizza. Ryan West and John Indelli of HFF represented the seller, Edifis Group, in the transaction. Houston-based Wu Investments purchased the asset for an undisclosed price.

November 14, 2017

Newer Posts

Older Posts