PLANO, TEXAS — JLL has arranged a $45 million Fannie Mae loan for the acquisition of Windhaven Park Apartments, a 474-unit multifamily community located in the northern Dallas suburb of Plano. The property features two pools, a pet park, soccer field, volleyball court and community clubhouse. Tim Leonhard and Chris Crump of JLL arranged the loan on behalf of BSR Trust, an Arkansas-based multifamily operator.
LUTZ, FLA. — Colliers International has arranged the $26 million sale of The Social, a 560-bed student housing community located at 2919 Network Place in Lutz, roughly two miles from the University of South Florida in Tampa. Travis Prince and Sean Baird of Colliers International arranged the transaction. Other terms of the deal were not disclosed. The Social includes two- and four-bedroom floor plans ranging in size from 960 to 1,498 square feet. All apartment units feature a private balcony or patio, full-size washer and dryer and direct access to the Hillsborough Area Regional Transit bus service. Community amenities include a resort-style pool, tanning suite, study room, fitness center, outdoor lounge and a computer lab with free printing.
ATLANTA — The Loudermilk Cos. has topped off construction of 371 East Paces Ferry, a nine-story, 120,000-square-foot medical office building in Atlanta’s Buckhead district. George Olmstead of Cushman & Wakefield is handling the property’s leasing assignment, and recently secured a 3,576-square-foot lease with Interventional Orthopedics of Atlanta LLC. The company will join other committed tenants including Concord Pharmacy, Piedmont Medical Care Corp., Peachtree Dermatology and Kalos Surgical Associates. The building will include 485 parking spaces in a seven-level deck and is expected to open in April 2018.
TAMPA, FLA. — HFF has arranged acquisition financing for a two-property, 332,207-square-foot industrial portfolio in Tampa. Ken Martin of HFF arranged the financing through JP Morgan Asset Management on behalf of the borrower, Citimark Inc. Other terms of the financing were not disclosed. The portfolio includes Pioneer Industrial Park and Sunstate Industrial Park, both located in Tampa’s Westshore/Airport submarket. Pioneer Industrial Park, which includes six buildings constructed between 1985 and 1986, was fully occupied at the time of sale. Constructed in 1980, the Sunstate Industrial Park includes eight buildings. At the time of sale, the industrial park was 89 percent occupied.
FORT WORTH, ARLINGTON AND STEPHENVILLE, TEXAS — Marcus & Millichap has closed the sale of three multifamily properties totaling 351 units in the Dallas-Fort Worth (DFW) area. Catholic Charities of Fort Worth sold the 200-unit Casa apartments in Fort Worth, the 65-unit Nuestro Hogar in Arlington and the 86-unit Casa Brendan apartments in Stephenville. Collectively, the assets fetched a sales price of more than $20 million. Al Silva of Marcus & Millichap represented the seller and secured the institutional buyers.
HOUSTON — Westmount Realty Capital has acquired Copper Mill, a 234-unit multifamily community located at 15910 FM 529 in northwest Houston. Built in 1983, the property features one- and two-bedroom units and amenities such as a pool, fitness center, business center and dog park. The property, which was 98 percent occupied at the time of sale, will be rebranded as Westmount at Copper Mill. The seller was not disclosed.
FORT WORTH, TEXAS — Mercedes-Benz Financial Services USA LLC has signed a 200,000-square-foot office lease at AllianceTexas in Fort Worth. Mercedes-Benz Financial has operated out of AllianceTexas, an 18,000-acre, master-planned community owned by Hillwood, since 2007, and this move increases the overall size of the company’s footprint in Fort Worth. The new, build-to-suit property will serve as the company’s national business operations center and is scheduled to open in 2019.
CHICAGO — Cawley Chicago has brokered the sale of a 310,775-square-foot industrial building in Chicago for an undisclosed price. High Street Realty Co. purchased the property from Westmount Realty Capital. Located at 4404 West Ann Lurie Place, the property was developed in the mid-1970s and modernized in 2010 by the previous owner, KTR Capital. Three tenants, including Gold Eagle, BT Wholesale and Southwall Insulating Glass, lease the building. The property, situated on 21.7 acres within the Crawford Industrial Park, features a 22-foot clear height, 69 truck docks, two drive-in doors and parking for 130 cars. Westmount acquired the property in 2014. Andrew Maletich of Cawley Chicago represented both parties in the transaction.
NORTH CANTON, OHIO — The A. Altman Co. has unveiled plans to develop a new 36,410-square-foot pediatric care facility in North Canton, about 20 miles south of Akron. The Akron Children’s North Canton Medical Center will be part of the Aultman Health Foundation North Campus. Akron Children’s entered into a long-term ground lease at the property. The move will allow the children’s hospital to consolidate operations from three locations around Stark County under one roof. The first floor of the building will feature Akron Children’s hospital pediatrics, while the second floor will be home to outpatient services such as cardiology, allergy and sports medicine. The ground floor will house physical, occupational and speech therapy rehabilitation services. The A. Altman Co. will develop and own the building.
COLUMBUS, OHIO — The Woda Group Inc. has opened Wheatland Crossing in the Hilltop neighborhood of Columbus. The $8.6 million project features 42 affordable seniors housing units, developed for residents 55 and older who earn 60 percent or less of the area median income. The Ohio Housing Finance Agency provided private activity bonds, while the city of Columbus contributed a housing preservation bond grant. The project was also supported by the Low-Income Housing Tax Credit (LIHTC) program.
