Property Type

Arch-Con Breaks Ground on 170-Room SpringHill Suites Hotel in Fort Worth

by Taylor Williams January 16, 2018

FORT WORTH, TEXAS — General contractor Arch-Con Construction, in collaboration with developer Oldham Goodwin Group LLC, has broken ground on a 170-room SpringHill Suites hotel in Fort Worth. The hotel will be located at the site of the recently demolished Wells Fargo Building near Fort Worth’s historic Stockyards area. Designed by Atlanta-based architecture firm Niles Bolton Associates and Dallas-based interior design firm Studio 11 Design, the property will total 133,000 square feet and feature a rooftop restaurant, first-floor wine bar, pool and three ballrooms. Completion is slated for early 2019.

January 16, 2018

Caldwell Cos. to Develop 330-Unit Apartment Community in Metro Houston

by Taylor Williams January 16, 2018

SPRING, TEXAS — Caldwell Cos. will develop Lakeview Oaks, a 330-unit multifamily community at the corner of Gosling Road and FM 2920 in the northern Houston metro of Spring. The Class A property will be situated adjacent to the site of a new H-E-B grocery store. Community amenities will include a resort-style pool, community center, coffee bar and a fitness center. Construction is expected to begin early this year with units becoming available for occupancy in 2019.

January 16, 2018

Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 496-Unit Self-Storage Facility in Metro Dallas

by Taylor Williams January 16, 2018

FRISCO, TEXAS — Marcus & Millichap has brokered the sale of Storage Solutions of Frisco, a 496-unit self-storage facility located at 6707 Eldorado Parkway in the northern Dallas metro of Frisco. The property, which consists of 212 climate-controlled units and 280 non-climate drive-up units, features perimeter fencing, personalized keypad entry and fire protection systems. Brandon Karr of Marcus & Millichap represented the seller, a limited liability company, and secured the buyer, an undisclosed corporation.

January 16, 2018

Multifamily Texas

Orion Acquires 199-Unit, Value-Add Apartment Community in Austin

by Taylor Williams January 16, 2018

AUSTIN, TEXAS — Los Angeles-based Orion Real Estate Partners has acquired Triple Crown 2 Apartments, a 199-unit, value-add multifamily community in Austin. Built in 1973, the property is located at 1212 Westheimer Drive, approximately 4.5 miles from the University of Texas at Austin and 5.5 miles from downtown. CBRE arranged a 10-year acquisition loan through Fannie Mae’s Green Financing program on behalf of Orion for the transaction.

January 16, 2018

Colorado Multifamily Western

Security Properties, Oaktree Capital Management Buy 300-Unit Apartment Complex in Colorado for $46.5M

by Nellie Day January 16, 2018

FEDERAL HEIGHTS, COLO. — A joint venture between Security Properties and Oaktree Capital Management has purchased The Lodge on 84th, a 300-unit apartment complex in Federal Heights, for $46.5 million. The community is located at 1327 W. 84th Ave. The Lodge is situated within the northern suburbs of Denver, between the Westminster and Thornton submarkets. The Class B, garden-style community was built in 1973. The property’s units are spread out across 25 residential buildings and 11 acres. Security Properties-affiliate Security Properties Residential will operate the community.

January 16, 2018

Colorado Multifamily Western

Inland Real Estate Acquisitions Purchases 408-Unit Après Apartments in Aurora, Colorado

by Nellie Day January 16, 2018

AURORA, COLO. — Inland Real Estate Acquisitions has purchased the 408-unit Après Apartments in Aurora for an undisclosed sum. The community is located at 1503 S. Galena Way. Après Apartments contains 17 three-story buildings with 196 one-bedroom and 212 two-bedroom units. Community amenities include a recently renovated clubhouse, fitness center, resident lounge, two swimming pools and a pet park. Units feature walk-in closets, washer and dryer, fireplace and a private balcony or patio.

January 16, 2018

Loans Multifamily Washington Western

Harborview Capital Partners Closes $12.7M in Loans for Three Seattle Multifamily Apartments

by Nellie Day January 16, 2018

SEATTLE — Harborview Capital Partners has closed three Freddie Mac loans for a total of $12.7 million. The loans were used to refinance three multifamily assets in Seattle. Harborview has now closed eight loans for this undisclosed Seattle client. The commercial real estate finance, equity and advisory firm closed two additional loans for multifamily assets in Tulsa, Okla., and West Haven, Conn. Jeffrey Fuchs originated all the transactions.

January 16, 2018

Hospitality Washington Western

WoodSpring Hotels Opens WoodSpring Suites Seattle Redmond

by Nellie Day January 16, 2018

REDMOND, WASH. — WoodSpring Hotels has opened the 120-room WoodSpring Suites Seattle Redmond. West 77 Partners LLC developed the hotel, which WoodSpring Hotels Property Management will operate. Each room contains an in-room kitchen equipped with a full-size refrigerator, two-burner stovetop and microwave. The hotel is pet-friendly and offers free wireless Internet, vending machines and guest laundry. The hotel is located at 7045 180th Ave. NE in Redmond. It is situated near Microsoft’s office campus.

January 16, 2018

California Retail Western

Faris Lee Arranges $3.2M Sale of Starbucks Property in Fontana, California

by Nellie Day January 16, 2018

FONTANA, CALIF. — Faris Lee Investments has arranged the $3.2 million sale of a newly developed, 2,500-square-foot property triple-net-leased to Starbucks Coffee in Fontana. Christopher DePierro and Jeff Conover of Faris Lee arranged the transaction on behalf of the seller, Puente Hills Power Center LLC. Matt Brooks of Faris Lee represented the buyer, Fata Organization LLC. The single-tenant property is an outparcel of Palm Court Center, a 630,000-square-foot power center anchored by Super Target, Ross Dress for Less, T.J. Maxx and 24 Hour Fitness.

January 16, 2018

Florida Retail Southeast

Terra Sells Publix-Anchored Shopping Center in South Florida to Jamestown for $72M

by Camren Skelton January 16, 2018

DORAL, FLA. — Terra has sold Doral Commons, a 140,000-square-foot shopping center in South Florida, for $72 million. Jamestown LP acquired the asset, located at the intersection of N.W. 74th Street and 107th Avenue in Doral. Publix anchors the center, which was 95 percent leased at the time of sale to tenants including T.J. Maxx, Citibank, GNC, AT&T and McDonald’s. Doral Commons was initially part of a 100-acre tract acquired by Terra in 2012. The company subdivided the land into commercial and residential uses, completing construction of Doral Commons in 2015. Terra’s 319-home housing development Modern Doral is located adjacent to the retail center.

January 16, 2018

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