Property Type

Natixis Provides $270M Refinancing for JW Marriott Chicago

by Katie Sloan August 22, 2017

CHICAGO — Natixis has provided a $270 million refinancing for the JW Marriott Chicago, a luxury hotel located within The Loop in downtown Chicago. Daniel Burnham designed the property in the early 1900s. It served as the Continental and Commercial National Bank Building for many years. In 2010, the first 12 floors of the building were transformed into a 610-room hotel. Architectural firm Lucien Lagrange & Associates led the $396 million restoration. The hotel offers amenities including a 20,000-square-foot spa; 38 meeting rooms totaling 45,000 square feet; a fitness center; barber and beauty shop; The Florentine, a full service Italian restaurant; lobby lounge; and 24-hour room service. Danny Kaufman and Jeff Bucaro of HFF placed the five-year, fixed-rate refinancing loan on behalf of UST XIX 208 S LaSalle, a German real estate investment fund managed by affiliates of Orlando, Fla.-based Estein USA. Natixis is the international corporate, asset management, insurance and financial services arm of Groupe BPCE, the second largest banking group in France. The firm is a full-service, direct lender for commercial real estate clients across the United States. Groupe BPCE has 31.2 million clients spread over two retail-banking networks — Banque Populaire and Caisse d’Epargne. — Katie Sloan

August 22, 2017

Features Retail Top Stories

The ‘Space’ Age Of Retail – Integrating Technology into Today’s Shopping Center

by Katie Sloan August 22, 2017

It was not so long ago that the actual merchandise was the focal point of most malls and shopping centers throughout the country. Technology, social media and the rise of a new generation have changed that focus. Or, at least, altered that focus, blurring the lines between products and services, retail and entertainment and ecommerce and bricks and mortar. Nowadays, shopping centers and the store brands that inhabit them must be much more. In fact, many are now tasked with being all things to all people. They can babysit your kids, act as your personal shopper, tell you which parking space is open, deliver your purchase to your front door, provide you with items that might complement your purchase and so on. While there are a variety of very creative, well-informed and innovative people behind all of these new and emerging services, most of them have come to fruition through the use of technology. Yes, the term once reserved for the computer science, engineering and medical fields has now become a premier commodity — rivaling that of even the merchandise — in the shopping centers of America. Though the actual blueprint for the next wave of retail real estate remains …

August 22, 2017

California Market Reports Multifamily Western Western Market Reports

Apartment Values Continue to Climb in Orange County

by Camren Skelton August 22, 2017

Orange County’s well-diversified and growing economy, coupled with its high quality of life, attract residents nationally and internationally to the region. Prohibitive home pricing also intensifies the high barrier to home ownership, further supporting overall apartment fundamentals in the Orange County market. Developers are targeting urban centers where they can transform the areas with Class A rentals. Anaheim’s Platinum Triangle, the Disney Resort, Convention Center Complex and surrounding area are undergoing an infusion of more than $5 billion that is redefining the area as a highly urbanized residential, entertainment and business hub. A similar transformation is happening at the Irvine Business Complex (IBC). In addition to these clusters, about 19,000 units are scheduled to come online over the next few years, particularly in the Class A product category. Rents in Orange County rose 4.8 percent year-over-year through January, outpacing the 4.6 percent national growth rate. Renter demand remains elevated, fueled by a rapidly expanding economy and population gains. Large companies and startups alike are drawn to the market’s highly educated workforce as nearly 25 percent of residents have at least a bachelor’s degree. This reinforces the foundation for the multifamily sector’s rent growth in both “renter by necessity” (students/young professionals/blue-collar/subsidized …

August 22, 2017

California Industrial Western

Trammell Crow, Clarion Partners to Develop 132-Acre Industrial Park in Santa Clarita

by Nellie Day August 21, 2017

SANTA CLARITA, CALIF. — Trammell Crow Co. and Clarion Partners have purchased 54 additional acres of land to develop the Center at Needham Ranch, a 132-acre business park in the Los Angeles submarket of Santa Clarita. The Class A park will be situated one mile from the intersection of Interstate 5 and Highway 14, about 30 miles from downtown Los Angeles and 15 miles from Burbank Airport. Phase I will include an 869,760-square-foot park with 30- to 36-foot clear heights, ESFR fire sprinklers, abundant dock-high loading, and large truck courts and yard areas. Construction of Phase I is scheduled to begin this month, with completion scheduled for the third quarter of 2018.

August 21, 2017

Arizona Multifamily Western

Henley USA, Modern Residential Acquire Sonoma Villas in Mesa for $22.4M

by Nellie Day August 21, 2017

MESA, ARIZ. — A joint venture between Henley USA and Modern Residential Co. has acquired the 265-unit Sonoma Villas apartments in Mesa for $22.4 million. The community is located at 1800 E. Covina St. Sonoma Villas was built in 1980. The JV plans to enhance the property by making strategic improvements to the common area amenities, apartment interiors, leasing space and clubhouse. The Jones Group represented the buyer, while David and Steve Gebing of Institutional Property Advisors represented the seller, a joint venture between Mentor Properties and ReNUE Properties, in this transaction.

August 21, 2017

California Multifamily Student Housing Western

AMCAL Opens 660-Bed Community Near California State University, Stanislaus

by Nellie Day August 21, 2017

TURLOCK, CALIF. — AMCAL Equities LLC has opened The Vista, a 660-bed student housing community located near California State University, Stanislaus in Turlock. The property offers one-, two-, three- and four-bedroom units. Community amenities include a clubhouse with outdoor volleyball and basketball courts; a resort-style swimming pool; outdoor television lounge; theater; cyber café with free coffee; and 24-hour fitness center. Asset Campus Housing is managing the property. Humphreys & Partners Architects LP designed the community, and AMCAL General Contractors Inc. managed construction. Coleraine Capital Group, AMCAL’s joint venture partner, sourced the land and assisted with the entitlement process.

August 21, 2017

Colorado Multifamily Seniors Housing Western

Northstar Commercial Partners Completes 74-Unit Seniors Housing Community in Denver

by Nellie Day August 21, 2017

DENVER — Northstar Commercial Partners has completed Balfour at Stapleton, a 74-unit assisted living and memory care community in Denver’s Stapleton neighborhood. A grand opening will be held in September for the 63,000-square-foot community. Northstar partnered with Balfour Senior Care, a Colorado-based operator, for the project. Northstar and Balfour are currently developing another community, a $51 million, 151-unit project in Ann Arbor, Mich. Construction is expected to begin this year. Northstar Commercial Partners is a privately held commercial real estate investment company headquartered in Denver.

August 21, 2017

California Industrial Western

Performance Food Group Leases Industrial Space at Livermore Facility

by Nellie Day August 21, 2017

LIVERMORE, CALIF. — Performance Food Group has leased 89,429 additional square feet of space at an industrial warehouse/distribution facility in Livermore. The facility is located at 7587 Las Positas Ave. Performance Food Group already leases 222,345 square feet within the industrial complex. The facility features 30-foot minimum ceiling height, ESFR sprinkler system, cross dock loading access, ample parking and truck staging areas. Michael Lloyd and Greig Lagomarsino of Colliers executed the transaction.

August 21, 2017

Industrial Northeast Pennsylvania

Goodman Completes Prelease of 1 MSF Logistics Facility In Carlisle, Pennsylvania

by Jaime Lackey August 21, 2017

CARLISLE, PA. — In Carlisle, Goodman Group has preleased 1 million square feet of logistics space to syncreon. The third-party logistics company is leasing space at one of two industrial facilities at the Goodman Logistics Center Carlisle, which offers direct access to Interstate 81. syncreon is scheduled to take occupancy of the building in early 2018. The seven-year lease was negotiated by Lauren Scarpace and Michael Hess of CBRE and is the first lease at the logistics center. The second logistics facility is currently available for lease and offers 938,236 square feet of available space.

August 21, 2017

Loans New York Northeast Office

Cushman & Wakefield Arranges $400 Million Financing for 1.1 MSF Office Building In NYC

by Jaime Lackey August 21, 2017

NEW YORK CITY — Cushman & Wakefield served as the exclusive advisor to Trinity Wall Street in arranging $400 million of acquisition financing secured by 375 Hudson Street in Manhattan. The senior mortgage financing was provided by affiliates of Goldman Sachs Mortgage Company. The 19-story Class A office and retail property was constructed in 1987; it contains nearly 1.1 million square feet of rentable area including 17 floors of office space, prime ground-floor retail space, a gym and rooftop outdoor running track, 46,000 square feet of storage space as well as a two-level, 100-space parking garage. The property’s office space is fully leased, anchored by Saatchi & Saatchi, which occupies more than 62 percent of the space. Steve Kohn, John Alascio, Alex Hernandez, Chris Moyer and Alex Lapidus of Cushman & Wakefield’s Equity, Debt and Structured Finance team represented Trinity Wall Street.

August 21, 2017

Newer Posts

Older Posts