Property Type

H. Katz, Coastal Ridge Acquire 712-Bed Student Housing Community Near Colorado State

by Nellie Day January 27, 2017

FORT COLLINS, COLO. — A joint venture between H. Katz Capital Group and Coastal Ridge Real Estate has acquired Aspen Heights Fort Collins, a 712-bed community located near Colorado State University in Fort Collins. The price was not disclosed. Coastal Ridge has taken over management of the property, and is in the process of re-branding the community as The Outpost. The development offers two-, three-, four- and five-bedroom apartment-style units and cottages, with private bathrooms and guest half-baths, washers and dryers, and walk-in closets. Community amenities include a 24-hour fitness center, yoga studio, resort-style pool, hot tub, outdoor grills, a clubhouse, computer lab, sand volleyball court, movie theater, study lounge, tanning beds and a private shuttle. The property was sold by TSB Realty. TSB Capital Advisors assisted the joint venture in procuring a senior loan through Walker Dunlop and Freddie Mac.

January 27, 2017

California Mixed-Use Multifamily Retail Western

Marcus & Millichap Brokers $21.2M Sale of Development Site in West Hollywood

by Nellie Day January 27, 2017

WEST HOLLYWOOD, CALIF. — Marcus & Millichap has brokered the sale of a mixed-use development site located at 431 N. La Cienega Blvd. in West Hollywood. A group of local and national developers acquired the 32,574-square-foot site for $21.2 million. At the time of sale, the property was occupied by Royal Car Wash and other local retailers. The property also features multifamily units. Brandon Michaels and Lonnie McDermott of Marcus & Millichap represented the undisclosed seller and procured the buyer in the transaction.

January 27, 2017

California Retail Western

CBRE Facilitates $13.3M Sale of Retail Property in Los Angeles

by Nellie Day January 27, 2017

LOS ANGELES — CBRE has arranged the sale of Silver Lake Collection, a 10,497-square-foot retail property located at 3701-3713 W. Sunset Blvd. and 1601 Griffith Park Blvd. in the Silver Lake section of Los Angeles. 9 Mile Investments sold the property to a subsidiary of Strategic Realty Trust Inc. for $13.3 million. At the time of sale, the property was fully occupied by three restaurant and beverage tenants. Philip Voorhees, Todd Goodman, Preston Fetrow, Kirk Brummer, Megan Wood, Matt Burson, Jimmy Slusher and John Read of CBRE represented the seller and buyer in the deal.

January 27, 2017

California Retail Western

Lee & Associates Arranges Lease of 5,700 SF Retail Space in Vista

by Nellie Day January 27, 2017

VISTA, CALIF. — Lee & Associates has arranged the lease of 5,700 square feet of retail space at 3186 Vista Way in Vista. 5.11 Tactical, a supplier of tactical apparel and gear, will occupy the space, which was formerly occupied by Hooters. The lease is valued at $1.4 million. Randall Dalby, Rusty Williams and Chris Roth of Lee & Associates – North San Diego County represented the landlord, 3186 Vista Way LP, while James Arthur of CBC Advisors represented the tenant in the deal.

January 27, 2017

Georgia Office Southeast

Childress Klein, MidCity to Develop 370,000 SF Office Project in Atlanta’s Central Perimeter

by John Nelson January 27, 2017

SANDY SPRINGS, GA. — A joint venture between Childress Klein and MidCity Real Estate Partners has purchased 3.7 acres of land in Sandy Springs for the development of NorthPlace, a two-building office campus totaling 370,000 square feet. Situated within Atlanta’s Central Perimeter office submarket, the office development will sit at the intersection of Barfield Road and Mount Vernon Highway, one block from the new Mercedes-Benz U.S. headquarters and two blocks from the Sandy Springs MARTA station. Comprising a 250,000-square-foot building and 120,000-square-foot building, NorthPlace will offer signage visibility along Ga. 400. Childress Klein and MidCity will co-develop the property, and MidCity will oversee day-to-day construction responsibilities and will market the project to prospective corporate and medical tenants. A timeline for construction has not been announced at this time.

January 27, 2017

Multifamily North Carolina Southeast

Pollack Shores to Develop Apartment Community in Charlotte’s South End

by John Nelson January 27, 2017

CHARLOTTE, N.C. — Pollack Shores Real Estate Group plans to develop a 350-unit apartment community at 327 and 349 Tremont Ave. in Charlotte’s South End district. Design is currently underway on the project, which is located within walking distance of Atherton Mill. The residential units will feature stone countertops and stainless steel appliances, and the community amenities will include a pool courtyard, clubroom, sky lounge, two courtyards with outdoor kitchen amenities and a dog park. The community will also feature 2,500 square feet of street-level retail space and “Live Work Units” fronting Tremont Avenue. Pollack Shores expects to deliver the unnamed project in late 2018.

January 27, 2017

Loans Maryland Office Southeast

ACORE Capital Provides $46.6M Acquisition Loan for Office Portfolio in Metro D.C.

by John Nelson January 27, 2017

GREENBELT, MD. — ACORE Capital has provided a $46.6 million acquisition loan for Capital Office Park, a seven-property office portfolio totaling 806,531 square feet in the Greenbelt suburb of Washington, D.C. Cary Abod and Michael Gigliotti of HFF worked on behalf of the borrower, Morning Calm Management, to arrange the floating-rate loan. Located at 6301-6421 Ivy Lane, the portfolio is currently 60 percent leased to tenants including Bozzuto & Associates, Whiting Turner and the U.S. District Attorney’s Office. Morning Calm, who will be moving its primary office to Capital Office Park, plans to upgrade the property’s lobbies, elevators, windows and amenity spaces.

January 27, 2017

Georgia Multifamily Southeast

Berkadia Arranges $38.1M Sale of Two Apartment Communities in Metro Atlanta

by John Nelson January 27, 2017

NORCROSS AND LAWRENCEVILLE, GA. — Berkadia has brokered the $38.1 million combined sale of two apartment communities in metro Atlanta’s Gwinnett County. The properties include the 180-unit Ellington Woods located at 1359 Beaver Ruin Road in Norcross and the 192-unit Lealand Place at 2945 Cruze Road in Lawrenceville. Andrew Mays and Paul Vetter of Berkadia represented the seller, a private entity based in Atlanta, in both sales. Ellington 192 LLC purchased Ellington Woods for $18 million and Lealand 180 LLC purchased Lealand Place for nearly $20.1 million. Richard Levine of Berkadia originated two Freddie Mac loans totaling $26.9 million for the acquisition of both apartment communities. The loans feature seven-year terms and a floating 2.85 percent interest rate.

January 27, 2017

Louisiana Retail Southeast

SRSA Commercial Brokers $17M Sale of Shopping Center in Metro New Orleans

by John Nelson January 27, 2017

MANDEVILLE, LA. — SRSA Commercial Real Estate has brokered the $17 million sale of Northlake Shopping Center, a 166,371-square-foot retail center in Mandeville, situated on the north shore of Lake Pontchartrain across from New Orleans. Northlake’s tenant roster includes The Fresh Market, Office Depot, Stage, Gordon’s of Mandeville and PetSmart. Steven Reisig and Kirsten Early of SRSA Commercial represented the buyer, Epic Real Estate Partners, in the transaction. Epic has retained SRSA Gulf South Management, a division of SRSA, to manage and lease the center.

January 27, 2017

Multifamily Texas

Rosewood Property Opens 327-Unit Multifamily Property in Plano

by Amy Works January 27, 2017

PLANO, TEXAS — Rosewood Property Co. has opened The Bridge @ Heritage Creekside, an apartment building located within the 156-acre Heritage Creekside mixed-use development in Plano. Completed by Carbon Thompson, the property features 327 apartment units within the 46-acre first phase of the Heritage Creekside development. Upon completion, the project will also feature 105 single-family townhomes and 41 single-family homes.

January 27, 2017

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