Property Type

Siegel Group Nevada Purchases 153,000 SF Hospitality Asset in Dallas

by Taylor Williams June 22, 2017

DALLAS — The Siegel Group Nevada Inc. has purchased the former Regency Hotel, a four-building, 153,000-square-foot hospitality property located on the LBJ Freeway in northeast Dallas, for approximately $5 million. Originally constructed as a Holiday Inn in 1977, the property features a bar and restaurant, theater, fitness center, pool and banquet areas. As part of the property’s repurposing, the company plans to demolish the building that houses the bar, restaurant and banquet areas and construct a stand-alone retail property in its place.

June 22, 2017

Love Funding Secures $18.5M HUD Loan for Apartment Community in Leon Valley, Texas

by Taylor Williams June 22, 2017

LEON VALLEY, TEXAS — Love Funding has secured $18.5 million in construction and permanent financing for Valencia Lofts, a 192-unit apartment community in the San Antonio metro of Leon Valley. The garden-style community will feature one-, two- and three-bedroom units across 14 buildings. Love Funding secured the 40-year HUD loan on behalf of a joint venture between Davila Construction and Loft Concepts.

June 22, 2017

Healthcare Texas

JLL Negotiates Sale-Leaseback of 18,313 SF Rehab Facility in Metro Austin

by Taylor Williams June 22, 2017

DRIPPING SPRINGS, TEXAS — JLL has negotiated the sale-leaseback of an 18,313-square-foot post-acute rehabilitation facility situated on 10.6 acres at 3035 W. Highway 290 in the Austin suburb of Dripping Springs. Arizona-based STORE Capital purchased the five-building property from Mentis Neuro Health, which will leaseback 100 percent of the space for 15 years. Rudy Hubbard, Kevin McConn and Rick Goings led the JLL team in the transaction.

June 22, 2017

Retail Texas

Shinall Group to Develop 14,000 SF Retail Center in Amarillo

by Taylor Williams June 22, 2017

AMARILLO, TEXAS — Shinall Group will develop a 14,000-square-foot retail center at the former Hastings Entertainment location along Gem Lake Road in Amarillo. Branded The Forum at Gem Lake, the property is surrounded by multiple grocery stores and a Walmart store. The center will lease up to seven tenants, with the earliest move-ins scheduled for late July.

June 22, 2017

Loans Multifamily New York Northeast

Meridian Capital Arranges $60M in Refinancing for Multifamily Property in Manhattan

by Amy Works June 22, 2017

NEW YORK CITY — Meridian Capital Group has arranged $60 million in refinancing for The York, a multifamily property located at 435 E. 79th St. on the Upper East Side of Manhattan. BLDG Management is the borrower. The 10-year loan, provided by a life insurance company, features a fixed-rate and full-term interest-only payments. Carol Shelby of Meridian secured the financing for the borrower. The 13-story property features 233 apartments, ground-floor retail space, a fitness center, 24-hour doorman, on-site laundry facilities and a live-in superintendent.

June 22, 2017

Hospitality New York Northeast

Homewood Suites by Hilton Opens 113-Suite Hotel in Saratoga Springs, New York

by Amy Works June 22, 2017

SARATOGA SPRING, N.Y. — Homewood Suites by Hilton has opened Homewood Suites by Hilton Saratoga Springs, located at 3368 S. Broadway in Saratoga Springs. Developed by Turf Pioneer Broadway, a joint venture between Turf Hotels Inc. and Pioneer Cos., the hotel features 113 suites in studio, one- and two-bedroom layouts with fully equipped kitchens and separate living and sleeping areas. On-site amenities include complimentary hot breakfast, WiFi, an indoor pool and hot tub, 480 square feet of flexible meeting space and an outdoor patio with fire pit and sports court.

June 22, 2017

Multifamily Northeast Pennsylvania

Marcus & Millichap Brokers Sale of Apartment Complex in Lehigh Valley

by Amy Works June 22, 2017

BETHLEHEM, PA. — Marcus & Millichap has arranged the sale of Bethlehem Apartments, located at 1872 Livingston St. in Bethlehem. An undisclosed buyer acquired the asset for $2 million. The 24-unit property features a mix of studio and two-bedroom layouts in eight buildings. Daniel Bernard, Ridge MacLaren, Andrew Townsend and Clarke Talone of Marcus & Millichap represented the undisclosed seller and procured the buyer in the deal.

June 22, 2017

Loans Multifamily New York Northeast

KeyBank Provides $21.5M in Refinancing for Multifamily Property in Upstate New York

by Amy Works June 22, 2017

COHOES, N.Y. — KeyBank Real Estate Capital has provided a $21.5 million first mortgage loan for the refinancing of the first phase of The Residences at Lexington Hills in Cohoes. Built in 2016, the multifamily property features 138 units. Chris Black of KeyBank’s National Multifamily Accounts Group arranged the Freddie Mac loan with an eight-year term, three-year interest-only period and 30-year amortization schedule. The undisclosed borrower will use the loan to refinance existing debt.

June 22, 2017

Industrial New Jersey Northeast

Bussel Realty Facilitates $13.2M Sale of Industrial Facility in Elizabeth, New Jersey

by Amy Works June 22, 2017

ELIZABETH, N.J. — Bussel Realty Corp. has arranged the sale of an industrial facility located at 400 S. Second St. in Elizabeth. RLFI-B SPE LLC sold the property to SNR Holdings LLC for $13.2 million. The property features 115,078 square feet of industrial space. Jordan Metz of Bussel Realty represented the seller in the transaction.

June 22, 2017

Hospitality Midwest Missouri

Cushman & Wakefield Arranges $87.8M Sale of Historic Hotel in St. Louis

by Kristin Harlow June 22, 2017

ST. LOUIS — Cushman & Wakefield has arranged the sale of the Chase Park Plaza Hotel in St. Louis for $87.8 million. Behringer Harvard Opportunity REIT I sold the hotel to Hospitality Properties Trust (Nasdaq: HPT). Sonesta International Hotels Corp. will operate the hotel under its new name, Chase Park Plaza Royal Sonesta Hotel. Built over 90 years ago, the historic hotel features 338 guest rooms and suites, 51 furnished executive apartments and retail space.

June 22, 2017

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