Wednesday, June 18, 2025
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CaliforniaLoansMultifamilyWestern

George Smith Partners Secures $33M in Financing for L.A. Multifamily Portfolio

by Nellie Day

LOS ANGELES — George Smith Partners has secured $33 million in refinancing for a nine-property multifamily portfolio in Los Angeles. The portfolio is located in the West Hollywood and Koreatown neighborhoods. The transaction required nine separate loans to close concurrently with a structure that provided $5 million in return of equity to the owner and developer. Ultimately, two capital providers provided the loans at a five-year fixed rate of 3.15 percent. Each of the nine loans will self-liquidate over 30 years. After the initial five-year fixed-rate period, the rates will reset and float at 235 over LIBOR for the remaining 25-year term. A step-down prepayment is underwritten, which opens without penalty after the third year. Bryan Shaffer, Jon Shapiro and Max Lehrman arranged the loans.

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IndustrialNevadaWestern

Majestic Breaks Ground on Spec Warehouse Center in Las Vegas

by Nellie Day

LAS VEGAS — Majestic Realty Co. has broken ground on a 295,500-square-foot speculative warehouse distribution center at its Beltway Business Park in Las Vegas. The warehouse will be situated just south of the Southern Beltway at the intersection of Jones Boulevard and Badura Avenue. Notable tenants at the park include Switch Communications, GES, NV Energy, Brady Industries and MGM. Thomas & Mack Development Group served as development partner on this project.

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CaliforniaHospitalityRetailWestern

Mount Palomar Winery to Build Resort, Events Venue in Temecula

by Nellie Day

TEMECULA, CALIF. — The Mount Palomar Winery has received county approval to develop a resort and event venue in Temecula. The resort will include 180 guest rooms ranging from hotel rooms to cottages and villas. It will also feature a 1,800-seat amphitheater, restaurant, retail space and spa, in addition to a 17,000-square-foot tasting room. Mount Palomar will also add more vineyards and a production facility capable of producing 60,000 cases of wine per year.

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gateway-60-fort-worth-tx
IndustrialTexas

American Tire Distributors to Open 756,000 SF Distribution Center in Fort Worth

by Amy Works

FORT WORTH, TEXAS — American Tire Distributors plans to open a 756,000-square-foot regional distribution center at Alliance Gateway 60. The facility is situated within the 18,000-acre, master-planned, mixed-used AllianceTexas development in Fort Worth. Adam Faulk and Ryan Browder of Jackson Cooksey represented American Tire Distributors, while Tony Creme and Bill Burton provided in-house representation for the owner, Hillwood Properties, in the deal. American Tire Distributors is expected to move into the building in early 2017.

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MultifamilyStudent HousingTexas

ARA Newmark Arranges Sale of Four Student Housing Properties in Texas

by Amy Works

AUSTIN, TEXAS — ARA Newmark’s Student Housing Group based in Austin has arranged the sale of four student housing properties located in Texas. Dispositions include Rio West, a 388-bed community located near the University of Texas in Austin; Javelina Station, a 360-bed community located near Texas A&M-Kingsville in Kingsville; Brook Place, a 534-bed community located near Sam Houston State University in Huntsville; and The Timbers, a 253-bed community located near Texas State University in San Marcos. North Star Asset Management Co. sold Rio West to Columbus Nova, with Coastal Ridge Real Estate as its operating partner. Oldham Goodwin Group sold Javelina Station to Houston-based ApexOne Investment Partners. ApexOne Investment Partners sold Brook Place to Campus Advantage. University Communities sold The Timbers to Jacobson Cos. Ryan Lang of ARA Newmark represented the sellers in each of the transactions.

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Mixed-UseOfficeRetailTexas

Marcus & Millichap Facilitates Sale of 52,305 SF Land Parcel in Houston

by Amy Works

HOUSTON — Marcus & Millichap has arranged the sale of a land parcel located at 2401 N. Shepherd Drive in Houston. Braun Enterprises acquired the 52,305-square-foot site for an undisclosed price. The property is located across from HEB’s potential new location in the Houston Heights area. Justin Miller and Derek Hargrove of Marcus & Millichap represented the seller, a local family partnership, while Miller, Hargrove and David Hansen, also of Marcus & Millichap, represented the buyer in the transaction.

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OfficeTexas

WeWork Leases 84,000 SF of Office Space at Thanksgiving Tower in Dallas

by Amy Works

DALLAS — WeWork has leased 84,000 square feet of office space at Thanksgiving Tower in Dallas from Woods Capital. WeWork, which offers collaborative work spaces for teams of any size, plans to occupy three floors of the newly renovated office tower in spring 2017. Dallas-based Woods Capital acquired Thanksgiving Tower in 2013 and since then has implemented a more than $35 million renovation program at the property.

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IndustrialTexas

Stream Realty Partners Brokers Two Industrial Sales in Texas Totaling 19,344 SF

by Amy Works

ARLINGTON AND IRVING, TEXAS — Stream Realty Partners has arranged two sales of industrial properties in Texas totaling 19,344 square feet. In the first deal, Howell Properties LLC sold a 12,344-square-foot warehouse property located at 2901 Galleria Drive in Arlington to NP Arlington Industrial LLC for an undisclosed sum. Matt Dornak and Luke Davis of Stream Realty Partners represented the seller, while Coy E. Garrett & Associates represented the buyer in the transaction. In the second deal, Midnight Mechanics Inc. acquired a 7,000-square-foot industrial property located at 1720 Peters Road in Irving from BLJC PPTIES LCC for an undisclosed price. Hanes Chatham of Stream Realty Partners represented the buyer, while Henry S. Miller Brokerage represented the seller in the transaction.

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FloridaLoansMixed-UseSoutheast

Arcis Capital Partners Provides $70M Facility for Celebration Pointe in Gainesville

by John Nelson

GAINESVILLE, FLA. — Arcis Capital Partners LLC has provided a $70 million revolving facility for the development of Celebration Pointe, a more than 1 million-square-foot mixed-use project in Gainesville. Arcis Capital funded the facility on behalf of the borrower, Gainesville-based Celebration Pointe Holdings LLC, the sponsor and owner of Celebration Pointe. The 125-acre development is located along I-75 at Archer Road and features a newly built multi-modal bridge over the interstate. The developer, Celebration Pointe Development Partners, opened a new Bass Pro Shops at Celebration Pointe on Wednesday, Nov. 9. Anchoring the next phase, which is scheduled to open in November 2017, is a Regal Cinemas theater, a second Class A office building and over 350 luxury apartments. Additionally, a 137-room Hotel Indigo and the final phase of the main street retail are slated for a 2018 opening.

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Mixed-UseMultifamilySouth CarolinaSoutheast

Beach Co. Breaks Ground on Mixed-Use Apartment Development in Downtown Columbia

by John Nelson

COLUMBIA, S.C. — The Beach Co., a Charleston-based real estate developer, has broken ground on the final phase of the mixed-use CanalSide project in downtown Columbia. Situated in The Vista district, the new property is a 339-unit multifamily development known as Sola Station. The community will include 29,000 square feet of commercial space, as well as a saltwater pool, fitness center, yoga studio, dog park, spa, bike shop, clubroom and outdoor kitchens. The consultant team at Sola Station includes JHP Architecture, Creative Builders Inc., Alliance Consulting Engineers Inc., Hodgson & Douglas LLC and Moore Design Group. US Bank NA provided construction financing.

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