Property Type

InterFace Panel: Healthcare Operators Eye Retail Properties

by Taylor Williams October 12, 2017

DALLAS — Fueled by a growing population, a healthy flow of capital from a variety of investment sources and an emerging emphasis on quickness of delivery of services, the American healthcare real estate market is poised for expansion. The heightened demand for both new and old healthcare properties is forcing operators in the sector to consider alternative locations. Healthcare operators are thus finding new real estate opportunities from emerging trends in other property classes, like the spates of store closures in the retail market and the rising popularity of the mixed-use development. For their part, owners and developers of retail and mixed-use assets are embracing the growth of the healthcare sector, whether that means repurposing a strip center to be anchored by a healthcare tenant or integrating a wellness component into blueprints for a new mixed-use project. A quintet of healthcare real estate professionals who represent the provider side of the market came together at the InterFace Healthcare Real Estate conference on Sept. 14 to assess this practice and its future implications on the market. Held at the Westin Galleria hotel in Dallas, the daylong event drew about 240 attendees. Panelist Sid Sanders, senior vice president of real estate management …

October 12, 2017

Florida Multifamily Southeast

Pollack Shores Buys 512-Unit Multifamily Asset in Broward County for $119.8M

by Camren Skelton October 11, 2017

MIRAMAR, FLA. — Pollack Shores Real Estate Group has acquired Solano at Miramar, a 512-unit apartment community in the South Florida city of Miramar. South Florida Business Journal reports the Atlanta-based firm acquired the asset from TPF Equity REIT for $119.8 million. Constructed in 2008, Solano at Miramar comprises 364 apartment units and 148 townhomes that range in size from 823 to 1,677 square feet, with rents ranging from $1,961 to $3,185 per month. Community amenities include a resort-style pool with a sundeck, business center and a lakeside jogging trail. Pollack Shores will implement capital improvements including new granite countertops, vinyl plank wood flooring, white shaker cabinets and new plumbing and light fixtures. Amenity enhancements will include a full renovation to the clubhouse, conversion of an indoor basketball court into a fitness center and the addition of an outdoor lounge to the pool area. ARA Newmark brokered the transaction. Matrix Residential, a subsidiary of Pollack Shores, will manage the property.

October 11, 2017

District of Columbia Loans Office Southeast

KeyBank Secures $115M in Permanent Financing for Office Building in D.C.

by Camren Skelton October 11, 2017

WASHINGTON, D.C. — KeyBank Real Estate Capital has arranged $115 million in permanent financing for 1111 19th St. N.W., a recently renovated office building in Washington, D.C. Michael Keach and Hugh Hall of KeyBank arranged the seven-year loan through New York Life Real Estate Investors on behalf of the borrower, UNIZO Holdings. The Japanese investment firm originally acquired the asset from Clarion Partners in September for $203 million. The 12-story building features a renovated lobby with 20-foot ceilings, an extended building entrance, expanded retail storefronts and a renovated .

October 11, 2017

District of Columbia Office Southeast

DivcoWest Acquires Office Building in D.C. for $100.5M

by Camren Skelton October 11, 2017

WASHINGTON, D.C. — DivcoWest has acquired 1133 15th St. N.W., a 213,000-square-foot office building located on the border of the Central Business District and East End submarkets of Washington, D.C. The sales price was not disclosed, but the Washington Business Journal reports DivcoWest acquired the asset from an affiliate of Clark Enterprises for $100.5 million. The 12-story building is across the street from Midtown Center, the future headquarters of Fannie Mae, and was 90 percent leased at the time of sale. The LEED Gold-certified building features underground parking, a conference facility, fitness center and an on-site deli. DivcoWest will implement a capital improvement program to further upgrade the building’s lobby and common areas.

October 11, 2017

Georgia Multifamily Southeast

Wood Partners to Develop 198-Unit Apartment Community in Midtown Atlanta

by Camren Skelton October 11, 2017

ATLANTA — Wood Partners has unveiled plans to develop Piedmont House, a 198-unit apartment community in Atlanta’s Midtown district. The property will be located at 205 12th St., overlooking Piedmont Park. Designed by architect Rule Joy Trammell + Rubio, Piedmont House will include one- to three-bedroom units with private balconies, stainless steel appliances, quartz countertops, hardwood floors and a wine cooler and wet bar. Community amenities will include a saltwater pool, sky lounge, fitness center, entertainment space and a wine locker with a tasting room. In addition, Piedmont House will include 1,200 square feet of retail space. The new community is slated to deliver in winter 2018.

October 11, 2017

Georgia Multifamily Southeast

Greystone Arranges $18.1M Sale of Multifamily Asset Near Savannah

by Camren Skelton October 11, 2017

POOLER, GA. — Greystone Brown Real Estate Advisors has arranged the $18.1 million sale of Oglethorpe Square, a 160-unit multifamily community in Pooler, located 10 miles west of Savannah. Bo Brown and Steve Mack of Greystone represented the buyer, New York-based URS Capital Partners, and the undisclosed seller. URS will rebrand the property as Pooler Station. Constructed in 2006, the property features a swimming pool, fitness center, clubhouse, barbeque area and walking paths.

October 11, 2017

Multifamily Northeast Pennsylvania

Equus Capital Partners Sells 22-Property Multifamily Portfolio in Pennsylvania for $467M

by Amy Works October 11, 2017

PHILADELPHIA, PA. — Equus Capital Partners has completed disposition of a 22-property multifamily portfolio totaling 3,426 units across Pennsylvania in a series of transactions totaling $467 million. Mark Thomson, Carl Fiebig and Francis Coyne of HFF marketed the properties on behalf of the seller in six sub-portfolios. The properties sold in phases to different buyers throughout the year with the most recent closing at the end of September. The properties are located in suburban Philadelphia, Northeastern Pennsylvania, Lancaster, Harrisburg, Wyomissing and Lehigh Valley, Pa. The properties range in size from 50 units to 400 units and were built between the early 1960s through the mid-2000s.

October 11, 2017

Massachusetts Northeast Office

NKF Negotiates $28.3M Sale of 160,912 SF Office Building in Quincy, Massachusetts

by Amy Works October 11, 2017

QUINCY, MASS. — NKF has brokered the sale of Heritage Point, an office building in Quincy. Grander Capital Partners and North Colony Asset Management acquired the property from Campanelli for $28.3 million. At the time of sale, the 160,912-square-foot Class A office building was 85 percent occupied. On-site amenities include a fitness center, conference areas and a full-service café with an exterior deck featuring water views. The asset is one of three buildings within Heritage Landing, which was originally acquired by the joint venture of Campanelli and Dallas-based Trigate Capital in 2013 and 2014. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell, Michael Frisoli and Tyler McGrail of NKF represented the seller in the deal.

October 11, 2017

Multifamily New Jersey Northeast

Walters Group Begins Construction on 88-Unit Income-Restricted Residential Property in New Jersey

by Amy Works October 11, 2017

JACKSON, N.J. — Walters Group has started construction of The Ponds at Jackson 21, an 11-building income-restricted residential community located at 100 Mallard Court in Jackson. Situated on more than 10 acres, The Ponds at Jackson 21 comprises two-story apartment buildings offering a total of 88 one-, two- and three-bedroom apartment homes, ranging in size from 854 square feet to 1,172 square feet. Community amenities include a children’s tot lot, a barbecue and picnic area, a basketball court and a clubhouse with computer work stations and a fitness center. Slated for completion in October 2018, the property will fit a need for income-restricted housing in the township and give priority to Hurricane Sandy-impacted residents who were displaced by or experienced major severe storm damage from Superstorm Sandy. A portion of the development was funded by the federal Low-Income Housing Tax Credit (LIHTC) program, which has produced more than 2 million affordable housing units nationally and more than 500,000 units in New Jersey. Walters Group is managing every aspect of the project from design and construction to property management.

October 11, 2017

Data Centers Industrial Texas

T5, Hillwood, IPI to Develop 324-Acre Data Center Campus at AllianceTexas in Fort Worth

by Taylor Williams October 11, 2017

FORT WORTH, TEXAS — T5 Data Centers, a data center owner and operator with facilities across the country, will co-develop a 324-acre data center campus in Fort Worth. Hillwood and IPI Data Centers Partners Management LLC, a San Francisco-based data center investment platform, will co-develop the campus, which will be situated within the 18,000-acre AllianceTexas community. At full build-out, the development will be capable of delivering 400-plus megawatts of power. A timetable for construction has not yet been established.

October 11, 2017

Newer Posts

Older Posts