Property Type

Disaster-Restoration Firm Purchases Headquarters Building in Shawnee, Kansas for $3.2M

by Kristin Harlow April 11, 2018

SHAWNEE, KAN. — Fire and water damage restoration company ServiceMaster DSI is relocating the headquarters for its national large loss division, ServiceMaster Recovery Management, to Shawnee this month. The 47,000-square-foot office building will also serve as the fire and water damage restoration company’s regional headquarters for Missouri and Kansas. The property is situated on four acres at 8450 Cole Parkway. Bill Maas of Block & Co. Inc. Realtors negotiated the $3.2 million sale on behalf of ServiceMaster DSI. The seller was not disclosed.

April 11, 2018

Acquisitions Multifamily Texas

Sterling Acquires 230-Unit Apartment Community in Austin

by Taylor Williams April 11, 2018

AUSTIN, TEXAS — Sterling Real Estate Partners, a joint venture between Los Angeles-based Barker Pacific Group and Pacific Real Estate Partners (PREP), has acquired Spring Valley Apartments, a 230-unit multifamily community in Austin. The property was built in 2001 and features a fitness center, business center, basketball court, playground, swimming pool and spa. Sterling plans to upgrade the property’s landscaping, signage, clubhouse and kitchens. The seller was not disclosed.

April 11, 2018

Loans Multifamily Texas

Arbor Realty Trust Provides $20.8M Bridge Loan for Apartment Property in Clute, Texas

by Taylor Williams April 11, 2018

CLUTE, TEXAS — Arbor Realty Trust Inc., a New York-based direct lender, has provided a $20.8 million bridge loan for a 520-unit multifamily property in Clute, about 60 miles south of Houston. The property offers one- and two-bedroom units and amenities such as a fitness center, on-site laundry facilities and three swimming pools. Joseph Charneski of Arbor Realty Trust originated the loan, which features a two-year adjustable term.

April 11, 2018

Industrial Leasing Activity Texas

Stream Realty Negotiates 66,052 SF Industrial Lease in Metro Dallas

by Taylor Williams April 11, 2018

GRAPEVINE, TEXAS — Stream Realty Partners has negotiated a 66,052-square-foot industrial lease at International Airport Center, a 356,530-square-foot distribution warehouse located in the Dallas metro of Grapevine. Built in 2001, the building is situated adjacent to Dallas-Fort Worth (DFW) International Airport. Ryan Boozer of Stream Realty represented the tenant, Hanes Industries, in the lease negotiations. Steve Koldyke of CBRE represented the landlord, International Airport Center Inc.

April 11, 2018

Acquisitions Illinois Industrial Midwest

Lagestee-Mulder Acquires 47,000 SF Industrial Building in Naperville, Illinois

by Kristin Harlow April 11, 2018

NAPERVILLE, ILL. — Lagestee-Mulder has acquired a 47,000-square-foot industrial building in Naperville for an undisclosed price. The property is situated on 4.3 acres at 1600 Shore Road. Built in 1989, the property is fully leased to nine tenants that occupy spaces ranging in size from 3,118 to 9,429 square feet. Lagestee-Mulder’s investment fund, LM Value Investors II LLC, was used to acquire the newly renovated property. John Whitehead and Adam Johnson of NAI Hiffman represented the seller, Midwest Industrial Funds.

April 11, 2018

Development Florida Office Southeast

Hispanic Media Giant Telemundo Opens $250M Global Headquarters in Miami

by Camren Skelton April 11, 2018

MIAMI — Telemundo has opened its $250 million global headquarters in Miami’s Beacon Lakes Industrial Park. The Spanish-language media company is a subsidiary of NBCUniversal and Comcast Corp. Telemundo Center is situated on 21 acres and spans nearly 500,00 square feet, with the capacity to house 1,500 employees. The new facility brings all of the division’s offices, broadcast and production operations under one roof, including Telemundo Network, Telemundo Global Studios, Universo channel, Telemundo’s digital media operations and NBCUniversal International Group’s Latin American offices. The building features 15 studios, including two digital studios, virtual and augmented reality sets and a news operation. In addition, the facility houses the recently launched Telemundo Academy, a multimedia educational institution that partners with high schools and universities to train future media leaders. The LEED-certified building is constructed to sustain a Category 5 hurricane and remain in operation during weather and other environmental emergencies. Telemundo Center is estimated to contribute approximately $360 million in state taxes over the next 20 years.

April 11, 2018

Acquisitions Georgia Office Southeast

New York Life, Dilweg Sell Three Office Buildings Totaling 634,487 SF in Metro Atlanta to Bridge

by Camren Skelton April 11, 2018

ALPHARETTA, GA. — A joint venture between New York Life Real Estate Investors and The Dilweg Cos. has sold Royal Centre II, III and IV in Alpharetta. Bridge Office Fund Manager LLC, an affiliate of Bridge Investment Group LLC, acquired the assets, which total 634,487 square feet. The sales price was not disclosed, but the Atlanta Business Chronicle reports New York Life and Dilweg originally acquired the Royal Centre buildings in 2015 for $85.3 million. The buildings are located in the Royal 400 office park, roughly 26 miles north of Atlanta and less than two miles from Avalon, an 86-acre mixed-use development. Bridge plans to invest $12 million to further modernize the properties with the addition of collaborative work spaces, tenant amenity centers, upgrades to the fitness center, café and conference facilities, upgraded landscaping and new exterior common spaces. The properties, constructed between 1998 and 2000, were 85 percent leased at the time of sale.

April 11, 2018

Florida Loans Multifamily

Trillium Capital Arranges $21.6M Loan for New Multifamily Community in Titusville, Florida

by Camren Skelton April 11, 2018

TITUSVILLE, FLA. — Trillium Capital Resources (TCR) has arranged a $21.6 million loan for Solamere Grand, a 216-unit apartment community in Titusville. TCR arranged the 15-year, non-recourse, fixed-rate loan through Aegon Realty Advisors on behalf of the borrower, Solamere Grand LLC. The community was completed this month and features a clubhouse, business center, TV lounge, resort-style swimming pool, fitness center, sauna, playground, dog park and grilling stations.

April 11, 2018

Loans Multifamily Southeast Tennessee

CBRE Provides $18.1M HUD Refinancing for Apartment Community in Knoxville

by Camren Skelton April 11, 2018

KNOXVILLE, TENN. — CBRE Capital Markets has provided an $18.1 million loan through the U.S. Department of Housing and Urban Development (HUD) for the refinancing of The Villas of Emerald Woods, a 198-unit apartment community in Knoxville. Ann Cone and K.O. Kennedy of CBRE originated the 35-year loan on behalf of the borrower, The Williams Co. LLC. The Knoxville-based company developed the property in three phases between 2006 and 2009. The Villas of Emerald Woods features two- and three-bedroom, townhome-style apartments. Community amenities include a fitness center, tennis court, resort-style pool, hot tub and attached garages.

April 11, 2018

New York Northeast Retail Top Stories

Retailer Nine West Files for Bankruptcy, Will Close All 70 Stores

by David Cohen April 11, 2018

NEW YORK CITY — Nine West Holdings Inc., a New York-based women’s shoe and apparel wholesaler, has filed for bankruptcy after accumulating $1.6 billion in debt. As a result, the company plans to close all 70 of its brick-and-mortar retail stores. The company joins Toys ‘R’ Us, The Walking Company, Bon-Ton and Claire’s as prominent retailers to file for bankruptcy in the last year. An unidentified lender has provided $300 million in debtor-in-possession financing. The company also entered into a restructuring support agreement with the holders of 78 percent of its secured term debt and 89 percent of its unsecured term debt. The loan and agreement will allow the Nine West to remain an ongoing wholesale entity during bankruptcy proceedings. More than 80 percent of Nine West’s sales come from wholesale distribution and sales to department stores and off-price retail “This is the right step to address our two divergent business profiles,” says Ralph Schipani, Nine West Holdings’ Chief Executive Officer. “We will retain our strong, profitable and growing apparel, jewelry and jeanswear businesses, and continue to operate them under a new capital structure so that we can leverage their existing strengths to drive even greater growth.” “Once we complete the reorganization process, …

April 11, 2018

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