Property Type

Westmount Realty Capital Sells 546,984 SF Office Portfolio in Austin

by Amy Works December 13, 2016

AUSTIN, TEXAS — Westmount Realty Capital has completed the disposition of a 13-building office portfolio located on Kramer Lane and Metric Avenue within the Braker Center in Austin. The property sold for an undisclosed sum. Originally constructed as light industrial buildings, the 546,984-square-foot complex has evolved into more than 90 percent office finish-out space. Allergan Inc., Cenpatico, Integra Life Sciences and Renewal by Anderson are current tenants at the property. Eastdil Secured represented Westmount Realty Capital in the transaction. The name of the buyer was not released.

December 13, 2016

Greysteel Arranges Sale of Treehouse Apartments in Arlington

by Amy Works December 13, 2016

ARLINGTON, TEXAS — Greysteel has brokered the sale of Treehouse Apartments, a multifamily property located in Arlington. RMC Consultants sold the property to a private investor for an undisclosed price. Built in 1972, the property comprises five buildings totaling 16 units. Boyan Radic, Doug Banerjee, Andrew Mueller, Ryan Hill and Andrew Hanson of Greysteel represented the buyer and seller in the deal.

December 13, 2016

Multifamily Texas

Marcus & Millichap Brokers Sale of Two Multifamily Properties in Fort Worth

by Amy Works December 13, 2016

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of two neighboring multifamily properties in Fort Worth. A Dallas-based limited liability company acquired the 104-unit Villas Del Sol and the 118-unit Wedgewood Apartments from a private investment group for an undisclosed price. Al Silva, Mark McCoy and Ford Braly of Marcus & Millichap represented the seller and procured the buyer in the transaction.

December 13, 2016

Loans Retail Texas

Metropolitan Capital Arranges $2.8M Acquisition Loan for Retail Center in College Station

by Amy Works December 13, 2016

COLLEGE STATION, TEXAS — Metropolitan Capital Advisors has arranged $2.8 million in financing to 505 University Center LLC for the acquisition of 505 Center, a retail center located along University Drive in College Station. At the time of sale, the 33,766-square-foot property was fully occupied by a variety of national and regional tenants, including Fox & Hound, Edward D. Jones & Co., Aggieland Eye Care and Cavalier Cigar. Sunny Sajnani and Duke Dennis of Metropolitan Capital arranged the financing through Texas-based The Bank & Trust.

December 13, 2016

Retail Texas

DuWest Realty Brokers Two Retail Leases Totaling 27,716 in Dallas, Plano

by Amy Works December 13, 2016

DALLAS AND PLANO, TEXAS — DuWest Realty has arranged two retail leases totaling 27,716 square feet in Dallas and Plano. In the first lease, The Knead Medmassage leased 11,141 square feet at Broadstone Galleria at 13465 Inwood Road in Dallas. Scott Rodgers and Taylor Cluff of DuWest represented the landlord, CH Realty, in the deal. In the second deal, Kawaii America Piano Co. leased 16,302 square feet at Village at Collin Creek Shopping Center in Plano. Rodgers and Joe Radice of DuWest represented the landlord, Madison Partners, in the transaction.

December 13, 2016

Connecticut Multifamily Northeast

GAIA Real Estate Acquires 1,214-Unit Apartment Portfolio in Stamford, Connecticut

by Amy Works December 13, 2016

STAMFORD, CONN. — GAIA Real Estate and its institutional partners Menora Mivtachim Insurance, Amitim Senior Pension Funds, Psagot Investment House and CAPSSA have acquired a five-property multifamily portfolio at Harbor Point in Stamford from a joint venture between Building and Land Technology and the Lubert-Adler Real Estate Funds. The 1,214-unit portfolio consists of Postmark, 111 Harbor Point, Vault, The Key at Yale & Towne and The Lofts at Yale & Towne. The acquisition price was not released.

December 13, 2016

Multifamily New York Northeast

Toll Brothers, Gemdale Properties Partner to Develop 133-Unit Condo Building in Manhattan

by Amy Works December 13, 2016

NEW YORK CITY — Toll Brothers Inc. has partnered with Gemdale Properties and Investments, an affiliate of Gemdale Corp., to develop a luxury condominium property at 121 E. 22nd St. in Manhattan. Designed by the Office for Metropolitan Architecture, the two-tower property will feature 133 condominium units. The joint venture has secured a $237 million construction loan from a syndicate of five banks, including Bank of New York Mellon, Capital One, China Merchants Bank-New York, MUFG Union Bank and CIT Bank. The debt and equity were arranged by Toll Brothers’ in-house finance team. Additionally, Morrison & Foerster provided legal counsel to Gemdale in the joint venture.

December 13, 2016

Loans Mixed-Use Multifamily New York Northeast Office Retail

Cushman & Wakefield Secures $57.5M Acquisition Loan for Development Site in Queens

by Amy Works December 13, 2016

NEW YORK CITY — Cushman & Wakefield has originated a $57.5 million loan on behalf of Chris Xu of United Construction & Development Group for the acquisition of a mixed-use development site located at 39-08 Janet Place in the Flushing neighborhood of Queens. ACORE Capital provided the loan, and Morris Betesh of Cushman & Wakefield handled the transaction. The waterfront site offers 780,446 buildable square feet of residential, retail and office space.

December 13, 2016

Multifamily New York Northeast

Capital District Real Estate Begins $1.8M Multifamily Conversion in Rensselaer, New York

by Amy Works December 13, 2016

RENSSELAER, N.Y. — Capital District Real Estate Investment Team has started the $1.8 million conversion of a vacant office building, located at 22 High St. in Rensselaer, into Falls Edge Apartments. Once completed the property will feature 12 new apartment units, each with pre-installed WiFi and Sonos home stereo systems, hallway security cameras, granite countertops and in-unit washer/dryers.

December 13, 2016

Connecticut Industrial Northeast Office

O,R&L Commercial Negotiates Sale of Office, Industrial Complex in New Haven, Connecticut

by Amy Works December 13, 2016

NEW HAVEN, CONN. — O,R&L Commercial has arranged the sale of a 150,000-square-foot office and industrial complex, located at 85 Willow St. in New Haven. Willow Street Equities LLC acquired the property, known as Marlin Business Center, from 85 Willow Street NH LLC for $4.5 million. The buyer plans to continue to operate the property as an office and industrial complex with 40 tenants in 16 separate buildings. The complex was originally built for Marlin Firearms in the 1800s and converted to a multi-tenant facility in the late 1970s. Rich Lee of O,R&L Commercial brokered the transaction.

December 13, 2016

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