PITTSBURGH — ALTO Fund II, in a joint venture with M&J Wilkow Ltd., has acquired Plaza at the Pointe, a 149,943-square-foot community shopping center located in Pittsburgh’s Parkway West Corridor. The 94-percent occupied center includes tenants Bed Bath & Beyond, Party City and Old Navy. The name of the seller and sales price were not released.
ALLENTOWN, HAWLEY, DURYEA AND HAMLIN, PA. — Eastern Union Funding has arranged a $12.2 million loan for America’s Realty LLC’s acquisition of a five-property shopping center portfolio in northeastern Pennsylvania. Totaling approximately 332,000 square feet, the portfolio includes Eastside Plaza and Boulevard Plaza in Allentown, Lords Valley Plaza in Hawley, Duryea Plaza in Duryea and Hamlin Plaza in Hamlin. Marc Tropp and Barry Dollman of Eastern Union arranged the financing through Peapack Gladstone Bank for the Pikesville, Md.-based owner/operator. Paul Rumley of Metro Commercial Real Estate represented the seller, a California-based family trust, in the sales transaction.
NEW YORK CITY — Meridian Capital Group has arranged $13 million in ground-up construction financing for the development of the Marriott Towne Suites hotel located at 38-42 11th St. in Long Island City. The two-year construction loan, provided by a local savings bank, features full-term interest-only payments and an extension option. Midtown Properties, the borrower, is developing the 10-story extended-stay hotel that will feature 133 guest rooms. Eli Finkel and Michael Ryback of Meridian Capital arranged the financing.
HOUSTON — Thor Equities has topped off the 13-story office tower at Kirby Collection, a 1 million-square-foot mixed-use development located in Houston’s Upper Kirby district. The project’s 210,000-square-foot, Class A office building will feature two levels of retail space totaling 65,000 square feet. The development will also feature a 25-story, 385,000-square-foot residential tower with 199 apartments, including seven two-story townhomes and seven two-story loft spaces featuring private yards. E.E. Reed Construction is the general contractor for Kirby Collection, which is slated for completion in 2017. Richard Keating Architecture is the design architect, Dianna Wong Architecture + Design is the interior designer and Houston-based Kirksey is the architect of record. Walter P Moore is the structural engineer, and Houston-based WYLIE is the MEP engineer.
SAN ANTONIO — MetroGroup Realty Finance has arranged $29.9 million in financing for Parkway Plaza, an 89,388-square-foot office and flex building located in San Antonio. The loan included additional advances for tenant improvements and leasing commissions. Scott Botsford of MetroGroup Realty Finance secured the financing on behalf of the borrower, Dornin Investment Group.
HUMBLE, TEXAS — JLL has arranged an industrial lease at 620 N. Houston Ave. in Humble, a Houston suburb. Gateway Supply Inc. has leased the entire 52,145-square-foot manufacturing facility. Situated on 8 acres, the property features three crane-served buildings and 7,500 square feet of office space. Mark Nicholas, Richard Quarles and Joe Berwick of JLL represented the landlord, Schroeder Partnership Ltd., while Ron Roberson of Caldwell Cos. represented the tenant in the transaction.
HALTOM CITY AND CARROLLTON, TEXAS — Stream Realty Partners has negotiated two office property sales in Texas. In the first deal, Animal Intrusion Systems Holdings Co. sold a 7,687-square-foot office property located at 3330 N. Beach St. in Haltom City to CFH Transportation Services for an undisclosed price. Luke Davis and Mackenzie Ford of Stream Realty Partners represented the seller. In the second transaction, H&A Brothers purchased a 58,989-square-foot building located at 1501 Luna Road in Carrollton from Nu Vista Series 1D LLC. Ryan Boozer of Stream Realty Partners represented the buyer, while Lee & Associates LP represented the seller in the deal.
IRVING, GARLAND AND RICHARDSON, TEXAS — NAI Robert Lynn has arranged three leases totaling 244,539 square feet of industrial and office space in Texas. In the first deal, Sonoco Products leased 155,068 square feet of industrial space at the 248,000-square-foot Towne Lake Business Center at 5111 Frye Road in Irving. Rick Medinis of NAI Robert Lynn represented the landlord, Cabot Properties, while Buddy Turner and Chip Watson of Avison Young represented the tenant. In the second deal, True Velocity Inc. inked a lease for 66,270 square feet of office/warehouse space at 1036 Nicholson Road in Garland. Stephen Cooper and John Leinbaugh of NAI Robert Lynn represented the landlord, while Charles Lester of Lester RE Advisers represented the tenant. In the third transaction, Safeguard Properties leased 23,201 square feet of office space at 2400 Lakeside Blvd. in Richardson. Kent Smith of NAI Robert Lynn represented the tenant in the transaction. The name of the landlord was not released.
ATLANTA AND WASHINGTON, D.C. — Arcapita, a global investment management firm based in Bahrain, has acquired a portfolio of three senior living communities near Atlanta and Washington, D.C., for $110 million. The Arbor Co. will operate the three communities following the sale. Although Arcapita did not disclose details on the properties, CBRE recently arranged Arcapita’s purchase of two Atlanta-area properties — Arbor Terrace Peachtree City and Arbor Terrace at East Cobb. Combined with an $87 million portfolio purchase in Colorado earlier this year, Arcapita has invested nearly $200 million in U.S. seniors housing in 2016, totaling six properties and 506 units of independent living, assisted living and memory care.
BEL AIR, MD. — Klein Enterprises has delivered The Park at Winters Run, a 288-unit apartment community located on a 17-acre parcel in Bel Air. Units feature 9-foot ceilings, walk-in closets, Energy Star appliances, granite countertops, washers and dryers, patios or balconies, elevator access and internal access to garage parking for many units. Community amenities include a 24-hour fitness center; saltwater swimming pool; pet wash area; clubhouse with an entertainment kitchen; game room with billiards, shuffleboard and card tables; playground; outdoor patio with a grill and fire pit; 24-hour business center; free Wi-Fi in common areas; and 24-hour maintenance. A future retail component is planned for the property. The Dolben Co. Inc. manages The Park at Winters Run on behalf of Klein Enterprises.