Wednesday, April 30, 2025
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CaliforniaOfficeWestern

American Realty Advisors Acquires Foundry Square III in San Francisco

by Nellie Day

SAN FRANCISCO — American Realty Advisors has purchased Foundry Square III, a 291,093-square-foot office building in San Francisco’s Transbay District, for an undisclosed sum. The building is situated one block from San Francisco’s $4.5 billion Transbay Transit Center. It is fully leased to tenants like IBM, NASDAQ, Perkins Coie, Neustar and Silicon Valley Bank. Jeffrey Weber and Stephen Van Dusen of Eastdil Secured represented the seller, a development joint venture between Tishman Speyer and institutional investors advised by J.P. Morgan Asset Management.

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ArizonaOfficeWestern

City Office REIT Buys Office Building in Phoenix for $42.6M

by Nellie Day

PHOENIX — City Office REIT has acquired a 175,835-square-foot office building in Phoenix for $42.6 million. The Class A building is located at 5090 N. 40th St. within the Camelback Corridor. It is more than 90 percent leased. The seller was a joint venture between Lowe Enterprises and J.P Morgan Asset Management. CBRE’s Jim Fijan and Will Mast negotiated the transaction.

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ColoradoLoansOfficeWestern

HFF Arranges $32M Refinancing for Creative Office Development in Denver

by Nellie Day

DENVER — HFF has arranged a $32 million refinancing for a 151,500-square-foot creative office development in downtown Denver. The property is located at 3001 Brighton Blvd. in the River North (RiNo) submarket. The property was built in 1939 as a produce depot before. It is 97.7 percent leased to a mix of office, retail and restaurant tenants, including CorePower Yoga, Booyah Marketing and Uber. HFF’s Josh Simon, Kristian Lichtenfels and Riaz Cassum secured the seven-year, fixed-rate loan through a life insurance company. The team worked on behalf of Industry Founders and Clarion Partners.

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CaliforniaMultifamilyWestern

Pinnacle International Buys San Diego Development Site for $14.5M

by Nellie Day

SAN DIEGO — Pinnacle International has purchased a 30,000-square-foot redevelopment site in San Diego for $14.5 million. The site is located at 1141 E St. in the East Village submarket. It contains a 25,000-square-foot industrial building. The property is zoned for multifamily residential development. Ben Tashakorian and Jessie James of Marcus & Millichap represented the buyer and seller, Rodney Starkey, in this transaction.

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harmony-rowlett-tx
MultifamilyTexas

Huffines Communities Opens Harmony Luxury Apartments in Rowlett, Texas

by Amy Works

ROWLETT, TEXAS — Huffines Communities has opened the first phase of Harmony Luxury Apartments at 11010 Harmony Hill Lane in Rowlett. Phase I features 326 apartment units, a 7,000-square-foot clubhouse and a pool. The property offers one- and two-bedroom apartments in a variety of floorplans, ranging from 560 square feet to 1,263 square feet. Huffines has broken ground on the property’s second phase, which will add 318 units, including a limited number of three-bedroom units. The project team includes JHP Architecture/Urban Design and Moore Design Group.

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mm-dallas
MultifamilyTexas

Marcus & Millichap Arranges Sale of Two Apartment Buildings in Dallas

by Amy Works

DALLAS — Marcus & Millichap has arranged the sale of two apartment buildings in Dallas: Rosemont at San Jacinto and Carroll Terrace. A private investor sold the properties for an undisclosed price. Located at 4400 San Jacinto St., Rosemont at San Jacinto features 16 apartments, and Carroll Terrace, located at 1607 N. Carroll Ave., features 18 apartments. Stephen Crittenden of Marcus & Millichap represented the seller and procured the buyer, a private investor, in the deal.

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MultifamilyTexas

Turner Multifamily Impact Fund Acquires Two Apartment Communities in San Antonio

by Amy Works

SAN ANTONIO — The Turner Multifamily Impact Fund, a real estate investment fund managed by Turner Impact Capital, has acquired San Mateo and The Grove, both in San Antonio, for an undisclosed price. Situated on 10.9 acres in northeast San Antonio, San Mateo features 252 units in nine three-story buildings. On-site amenities include a pool, basketball court and student/business center. Located on 11 acres, The Grove features 276 units in 30 two- and three-story residential buildings. Community amenities include two swimming pools, a clubhouse with business lounge and fitness center, landscaped grounds and on-site laundry facilities.

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LoansMultifamilySeniors HousingTexas

Pioneer Realty Capital Closes $7.2M Refinancing of Seniors Housing Facility in Princeton, Texas

by Amy Works

PRINCETON, TEXAS — Pioneer Realty Capital has closed a $7.2 million loan to refinance Villa Asuncion Assisted Living Facility, located at 830 Princeton Drive in Princeton. The firm used the 504 Debt Refinance Program, which the Obama Administration reinstated in December 2015, to refinance the property for the undisclosed borrower. The program is intended to help small business owners obtain access to capital and create liquidity.

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OfficeTexas

ECR Brokers Three Office Leases in Austin Totaling 11,493 SF

by Amy Works

AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has arranged three office leases totaling 11,483 square feet in Austin. In the first lease, Revolution Insurance Technologies Inc. leased 6,277 square feet of office space at Crystal Mountain located at 9433 Bee Caves Road. Haley Smith and Patrick Ley of ECR represented the undisclosed landlord in the deal. In the second lease, fd2s leased 2,516 square feet of space at Chavez Village located at 1634 E. Cesar Chavez St. Ley and Lee Ellison of ECR represented the undisclosed landlord, while Chrissy Fuller and Ted Rohan of Avison Young represented the tenant. In the third lease, The Goodman Corp. leased 2,700 square feet of space at Lamar Gateway at 911 W. Anderson Lane. Matt Fain and Haley Berry of ECR represented the undisclosed landlord in the transaction.

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