Property Type

HFF Arranges Sale of 293-Unit Apartment Community in Houston

by Taylor Williams October 25, 2017

HOUSTON — HFF has arranged the sale of H6 Apartments, a 293-unit, Class A multifamily community located at 14805 Grisby Road in Houston’s Energy Corridor submarket. The property, which was more than 95 percent occupied at the time of sale, features one- and two-bedroom units averaging 827 square feet per unit. Amenities include a pool, fitness center and business center. Chris Curry and Todd Marix of HFF represented the seller, an affiliate of New York-based Abacus Capital Group LLC, in the transaction. GPI Real Estate Management Corp. purchased the asset contingent to existing debt.

October 25, 2017

Venture Commercial Acquires 87,900 SF Retail Center in Arlington

by Taylor Williams October 25, 2017

ARLINGTON, TEXAS — Venture Commercial Real Estate has acquired Sublett Corners Shopping Center, an 87,900-square-foot retail center located at the corner of South Cooper Street and Sublett Road in Arlington. Shadow-anchored by Albertsons, the center was 93 percent leased at the time of sale to tenants such as Stein Mart, Dollar Tree, Supercuts, KFC and Jack in the Box. Venture Commercial was represented internally by Bo Brownlee and Easley Waggoner Jr. Bill Jordan of Marcus & Millichap represented the seller, Rip Griffin Truck Service Center Inc.

October 25, 2017

Retail Texas

TREK Brokers Sale of 20,000 SF Strip Center in Houston

by Taylor Williams October 25, 2017

HOUSTON — Austin-based TREK Investment Group has brokered the sale of Breen Plaza, a 20,000-square-foot retail center in northwest Houston. Built in 2007, the property was 100 percent leased to 11 different tenants at the time of sale. Ethan Offenbecher of TREK represented the undisclosed seller in the transaction. The buyer and sales price were also withheld.

October 25, 2017

Data Centers Illinois Midwest

Carter Validus Mission Critical REIT Sells Data Centers for $1B in Two Separate Deals

by Kristin Harlow October 25, 2017

CHICAGO — Carter Validus Mission Critical REIT Inc. has entered into a definitive agreement in two separate transactions to sell data centers for a combined $1 billion. The REIT will sell a 251,141-square-foot data center in metro Chicago for $315 million. An affiliate of Digital Realty Trust LP has purchased the property, which is situated on 19 acres of land. Carter Validus has also entered into a definitive agreement to sell a 14-property data center portfolio to Singapore-based Mapletree Industrial Trust for $750 million. The transactions are expected to close in the fourth quarter. Moelis & Co. LLC served as lead financial advisor, along with KeyBanc Capital Markets Inc. and SunTrust Robinson Humphrey Inc. serving as co-advisors. Morris, Manning & Martin LLP served as legal counsel.

October 25, 2017

Illinois Loans Midwest Multifamily

Associated Bank Arranges $66.8M Construction Loan for Apartment Property in Lincolnshire, Illinois

by Kristin Harlow October 25, 2017

LINCOLNSHIRE, ILL. — Associated Bank has arranged a $66.8 million syndicated loan for the construction of 444 Social, a 302-unit luxury apartment property in Lincolnshire, a northern suburb of Chicago. The Class A property will be located at 444 Parkway Drive. The property will feature 127 one-bedroom units, 126 two-bedroom units and 15 three-bedroom units. Completion is slated for spring 2019. Associated Bank, which served as the lead arranger on the deal, provided $20 million of the loan package. Krista Casper of Associated Bank originated the loan for the borrower, SMASH Residential Chicago LLC, an affiliate of ECD Co.

October 25, 2017

Midwest Missouri Office

Franklin Partners Acquires 325,172 SF Office Building in Clayton, Missouri

by Kristin Harlow October 25, 2017

CLAYTON, MO. — Franklin Partners has acquired The Plaza in Clayton, a 325,172-square-foot office building in Clayton, about nine miles west of St. Louis. The purchase price was not disclosed. The 16-story property is located at 190 Carondelet Plaza. Smallwood, Reynolds, Stewart, Stewart designed the building, while St. Louis-based THF Realty developed the property in 2001. Paul Lundstedt, Dan Deuter, Mark Palmer, Artie Kerckoff and TJ Redmond of CBRE represented the seller, KBS REIT.

October 25, 2017

Illinois Midwest Multifamily

AIA Brokers $8.2M Sale of Apartment Building in Chicago

by Kristin Harlow October 25, 2017

CHICAGO — Apartment Investment Advisers (AIA) has brokered the sale of a 67-unit apartment building in Chicago’s Uptown neighborhood for $8.2 million. The eight-story property is located at 940 W. Winona St. A Chicago-based multifamily investment and management firm acquired the building with plans to complete a modernization and repositioning program. Bill Cassin of AIA represented the seller, a private investor that had owned and operated the building since the mid-1990s.

October 25, 2017

New York Northeast Office

Savanna Acquires 303,943 SF Office Building in Midtown Manhattan

by Amy Works October 25, 2017

NEW YORK CITY — Savanna has acquired an office building located at 19 W. 44th St. in Midtown Manhattan. Deka Immobilien GmbH sold the 18-story, 303,943-square-foot property for an undisclosed price. Originally constructed in 1916, the property features pre-war architecture as well as oversized loft-style windows, outdoor terraces and a historic masonry façade and entrance. Savanna plans to reposition the building through a series of cosmetic and base building capital improvements, along with a new branding campaign. Mesa West Capital provided financing for the acquisition and repositioning of the property. Russell Frahm of Mesa West Capital originated the financing, which was arranged by Lawrence Britvan, Matt Jacobs and Michael Straw of Hodges Ward Elliott. Cole Schotz PC advised Savanna in the transaction, while Colliers International represented the seller in the deal.

October 25, 2017

Massachusetts Northeast Office

CBRE/NE Brokers $40.7M Sale of Four-Building Office Park in Westborough, Massachusetts

by Amy Works October 25, 2017

WESTBOROUGH, MASS. — CBRE/New England has arranged the sale of Westborough Office Park, a four-building Class A office park located in Westborough. Equus Capital Partners sold the property to Carruth Capital for $40.7 million. Situated on 46 acres, the 384,000-square-foot property comprises 1700, 1800, 1900 and 2000 W. Park Drive. At the time of sale, the property was 90 percent occupied. Dave Pergola and Brian Doherty of CBRE/NE represented the seller and procured the buyer in the deal.

October 25, 2017

New Jersey Northeast Retail

Colliers Facilitates Sale of 81,000 SF Shopping Center in South Marlton, New Jersey

by Amy Works October 25, 2017

SOUTH MARLTON, N.J. — Colliers International has arranged the sale of Evesham Crossing Shopping Center, located at 515 Route 73 in South Marlton. Starwood Capital and Goodman Properties sold the 81,000-square-foot property to Raymour and Flanigan for an undisclosed price. Todd Sussman and Josh Goldine of Colliers were the sole brokers in the transaction.

October 25, 2017

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