Property Type

FCP Acquires Apartment Community in Charlotte for $22M

by Camren Skelton October 18, 2017

CHARLOTTE, N.C. — Federal Capital Partners (FCP) has acquired Hunters Pointe Apartments, a 386-unit multifamily community in Charlotte, for $22 million. Capstone Apartment Partners represented the undisclosed seller in the transaction. FCP will invest more than $2 million in capital improvements and amenity enhancements, including the addition of a new swimming pool, new playground, dog park and grilling stations. The company will also upgrade the community’s entrance, leasing office, building exteriors, landscaping and green spaces. Hunters Pointe features townhome and loft-style apartment units with private patios.

October 18, 2017

Florida Loans Multifamily Southeast

HFF Arranges $35M Refinancing for Multifamily Asset in Broward County

by Camren Skelton October 18, 2017

POMPANO BEACH, FLA. — HFF has arranged $35 million in refinancing for Overlook Pointe, a 249-unit apartment community located at 4611 N. Federal Highway in Pompano Beach. John Brownlee and Elliott Thorne of HFF arranged the three-year, floating-rate loan with two one-year extension options through a life insurance company on behalf of the borrowers, M-M Properties and its institutional partner. Constructed in 2015 in South Florida’s Broward County, Overlook Pointe’s residences feature stainless steel appliances, granite countertops, in-unit washers and dryers and patios or balconies. Community amenities include a swimming pool, grilling areas, rooftop amenity deck, fitness center, game room, playground, billiards and a coffee bar.

October 18, 2017

Industrial Self-Storage Southeast Tennessee

Marcus & Millichap Arranges Sale of Six-Property Self-Storage Portfolio in Metro Memphis

by Camren Skelton October 18, 2017

MEMPHIS, TENN. — Marcus & Millichap has arranged the sale of a six-property self-storage portfolio in metro Memphis. Charles LeClaire and Adam Schlosser of Marcus & Millichap arranged the transaction on behalf of the seller, Amsdell Cos., and procured the buyer, Merit Hill Capital. Anne Williams of Marcus & Millichap also assisted in closing the transaction. Three of the properties are located in Tennessee and the other three are located in northern Mississippi. The portfolio totals 337,846 square feet and includes 2,391 units and 297 outdoor parking spaces. Constructed between 1983 and 2006, the single-story, drive-up buildings feature a mix of climate- and non-climate-controlled units. Amenities include perimeter fencing, electronic gate access, 24-hour video surveillance and onsite leasing offices. The portfolio also includes two billboards, one cell tower and a commercial tenant generating additional revenue.

October 18, 2017

Retail Texas

IKEA to Open 290,000 SF Store in Grand Prairie on Dec. 13

by Taylor Williams October 18, 2017

GRAND PRAIRIE, TEXAS — Swedish furniture retailer IKEA will open its 290,000-square-foot store located in Grand Prairie on Wednesday, Dec. 13. The Grand Prairie location will be IKEA’s fourth in Texas, with plans to open stores in the San Antonio and Fort Worth areas in 2019 underway. Construction of the store created about 500 jobs, and approximately 250 coworkers will have joined the IKEA workforce by the time the store opens.

October 18, 2017

Multifamily Texas

High Street Tops Off 34-Story Luxury Apartment Tower in Dallas

by Taylor Williams October 18, 2017

DALLAS — High Street Residential, a subsidiary of Trammell Crow Co., has topped off Residences at Park District, a 34-story, 228-unit luxury apartment tower located near Klyde Warren Park in Dallas. The property will feature one-, two- and three-bedroom units ranging in size from 782 to 3,234 square feet, as well as 13,396 square feet of retail space. Amenities will include a fitness center with showers and a yoga room, business center, valet services, a pool with cabanas, a dog park and a spa. Preleasing is scheduled to begin during the first quarter of 2018.

October 18, 2017

Multifamily Texas

Presidium Group Acquires 343-Unit Apartment Community in Dallas

by Taylor Williams October 18, 2017

DALLAS — Presidium Group LLC has acquired Serendipity Apartments, a 343-unit, Class B multifamily asset located at 8780 Park Lane in Dallas. Built in 1975, the property offers a mix of one- and two-bedroom units averaging 610 square feet per unit. Amenities include a pool and a fitness center. The seller and sales price were not disclosed.

October 18, 2017

Office Texas

Stream Realty Negotiates 53,397 SF Office Lease in Dallas

by Taylor Williams October 18, 2017

DALLAS — Stream Realty Partners has negotiated an office lease at Gramercy Center South, a two-building, 256,000-square-foot office park located at 18451 N. Dallas Parkway in Dallas. Ryan Evanich and Matt Wieser of Stream Realty represented the landlord, ATCAP Partners, in the lease negotiations. The new tenant, Advanced Infusion Solutions, a provider of comprehensive pharmacy services, will occupy 53,397 square feet at the property.

October 18, 2017

Retail Washington Western

Capital Pacific Arranges $9.1M Sale of Newly Constructed Retail Center in Metro Seattle

by Nellie Day October 18, 2017

KIRKLAND, WASH. — Capital Pacific has arranged the $9.1 million sale of Totem Lake Center, a 7,600-square-foot shopping center in Kirkland, 11 miles northeast of Seattle. Capital Pacific arranged the transaction on behalf of the seller, Madison Development Group, and the buyer, a private family trust. Completed this year, Totem Lake Center is fully leased to MultiCare and Mattress Firm.

October 18, 2017

Loans Multifamily Texas

Hunt Mortgage Secures $18M Refinancing for 436-Unit Multifamily Property in Dallas

by Taylor Williams October 18, 2017

DALLAS — Hunt Mortgage Group has secured $18 million in refinancing for Magnolia Creek Apartments, a garden-style multifamily community situated on 14.4 acres at 7272 Marvin D. Love Freeway in Dallas. Built in 1988, the property consists of 28 three-story buildings totaling 436 units and offers amenities such as a lounge, fitness center, pool and playground. Hunt Mortgage arranged the seven-year Fannie Mae loan on behalf of the borrower, Delaware-based IRG MDL LLC.

October 18, 2017

California Multifamily Seniors Housing Western

Eden Housing Starts Construction of 90-Unit Affordable Seniors Housing Community in Bay Area

by Nellie Day October 18, 2017

FREMONT, CALIF. — Eden Housing has broken ground on Mission Court Senior Apartments, an affordable seniors housing community in the San Jose suburb of Fremont. KTGY Architecture + Planning designed the property for the nonprofit developer, which is building the community along with the City of Fremont. The 90 units are reserved for those over 62 years of age making between 30 percent and 50 percent of the area median income. The three-story building will be located in the Warm Springs area of Fremont on a 2.25-acre site near transportation, shopping and services. Mission Court Senior Apartments is part of Mission Falls, a master-planned development that includes five villages on a 23.5-acre parcel. When complete, the property will include 500 residential units and a 15,000-square-foot senior community center. Mission Court Senior Apartments is scheduled for completion in November 2018.

October 18, 2017

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