Property Type

Wood Partners Sells New Apartment Community in Metro Tampa for $52.9M

by John Nelson May 11, 2017

LAND O’LAKES, FLA. — Wood Partners has sold Alta at Terra Bella, a 311-unit multifamily community located at 23700 Viento Drive in Land O’Lakes, about 19 miles north of Tampa. Northland Investment Corp. purchased the Class A asset from Wood Partners for nearly $52.9 million. Matt Mitchell, Brett Moss and Zach Nolan of HFF represented Wood Partners in the transaction. Built in 2016, Alta at Terra Bella features a zero-entry saltwater swimming pool; outdoor summer kitchen; fitness center with yoga room and children’s playroom; clubhouse with sports lounge; game room with billiards, shuffleboard and kitchen/bar seating; cyber café; dog wash and dog park; and breezeway-access garages. The community’s one-, two- and three-bedroom units average 1,091 square feet.

May 11, 2017

Mixed-Use North Carolina Southeast

American Realty Advisors, Stonemar Buy Ballantyne Village in Charlotte for $43.2M

by John Nelson May 11, 2017

CHARLOTTE, N.C. — American Realty Advisors and Stonemar Properties have partnered to acquire Ballantyne Village, a 171,559-square-foot mixed-use development located at 14825 Ballantyne Village Way in Charlotte. The sales price was undisclosed, but the Charlotte Business Journal reports that the buyers purchased the asset from a limited liability corporation controlled by Vision Ventures and Mount Vernon Asset Management for $43.2 million. Situated near Ballantyne Corporate Park, which recently sold for more than $1 billion, the development features 13 dining options, two schools, personal services providers, office space and outdoor gathering areas. Rob Carter, David Webb, Rad von Werssowetz and Alex Quarrier of Berkeley Capital Advisors represented the seller in the transaction.

May 11, 2017

Loans Retail Texas

Vestar Secures $8.6M in Financing for Sprouts-Anchored Retail Center in Allen, Texas

by Taylor Williams May 11, 2017

ALLEN, TEXAS — Private equity firm Vestar has secured $8.6 million in financing for Twin Creeks Marketplace, a 43,134-square-foot retail center located at 1265 W. Exchange Parkway in the Dallas-Fort Worth metro of Allen. The property, which was developed in 2016, was 100 percent leased at the time of loan closing to anchor Sprouts Farmers Market, as well as tenants such as Verizon Wireless, Starbucks Coffee and Advancial Credit Union. Vestar secured the 15-year loan through Lincoln National Life Insurance Co.

May 11, 2017

Georgia Industrial Southeast

Hillwood to Develop 797,580 SF Distribution Center in Metro Atlanta

by John Nelson May 11, 2017

ELLENWOOD, GA. — Hillwood plans to build Clayton Commerce Center, a 797,580-square-foot distribution center located near Interstate 675 in Ellenwood, about nine miles east of Hartsfield-Jackson Atlanta International Airport. The facility will be Hillwood’s first metro Atlanta project built on a speculative basis. The property will include 36-foot clear heights, an ESFR sprinkler system, cross-dock configuration, 231 trailer storage spaces and 442 parking spaces for automobiles. Clayton County is the only county in metro Atlanta to be designated Tier 1 by the Georgia Department of Community Affairs, and Hillwood’s development is expected to offer potential tenants job tax credits and property tax reductions. Hillwood has selected Reliant Real Estate Partners to lease Clayton Commerce Center, which is expected to come on line in December.

May 11, 2017

Multifamily North Carolina Southeast Student Housing

Vesper Buys Student Housing Community Near University of North Carolina at Greensboro for $36.5M

by John Nelson May 11, 2017

GREENSBORO, N.C. — Vesper Holdings has acquired Campus Crossing Sherwood Forest, a 790-bed student housing community located near the University of North Carolina at Greensboro, for $36.5 million. The property comprises one-, two-, three- and four-bedroom units. Community amenities include a 12,000-square-foot clubhouse, swimming pool, hot tub, fitness center, rock wall, spin and yoga studios, a computer lab, game room, movie theater, tanning beds and a volleyball court. The new ownership plans to rebrand the community and execute $1.8 million worth of renovations to units, shared amenities and the property’s exterior. Vesper acquired the asset from an undisclosed, local owner in the off-market transaction.

May 11, 2017

Industrial Southeast Tennessee

NAI Saig, Avison Young Broker $33.1M Sale of 1.1 MSF Industrial Portfolio in Memphis

by John Nelson May 11, 2017

MEMPHIS, TENN. — NAI Saig and Avison Young have arranged the $33.1 million sale of a nine-property, 1.1 million-square-foot industrial portfolio located within Memphis International Airport Center (MIAC). Faropoint Ventures purchased the portfolio from Connecticut-based Greenfield Partners LLC. The portfolio was 93.1 percent leased at the time of sale to tenants such as FedEx, Kohler, United States Postal Service and DHL. Brian Califf of NAI Saig represented Faropoint in the transaction, and Shane Soefker and Jacob Biddle of Avison Young represented Greenfield Partners. Faropoint has retained Califf and Elliot Embry of NAI Saig to handle the portfolio’s leasing assignment.

May 11, 2017

Multifamily Texas

NAPA Ventures Acquires Two Apartment Complexes Totaling 401 Units in Lake Jackson, Texas

by Taylor Williams May 11, 2017

LAKE JACKSON, TEXAS — NAPA Ventures, an Austin-based investment firm, has acquired Treasure Bay Apartments and Oyster Creek Apartments, two multifamily properties totaling 401 units in Lake Jackson, a city roughly 60 miles south of Houston. Both properties are located off Nolan Ryan Expressway and were purchased in partnership with a Dallas-based private equity firm. NAPA plans to upgrade both properties’ landscaping, parking areas, leasing offices and business centers, as well as the interiors of the units.

May 11, 2017

Multifamily Texas

CBRE Brokers Sale of 244-Unit Apartment Community in Carrollton

by Taylor Williams May 11, 2017

CARROLLTON, TEXAS — CBRE has brokered the sale of Estrada Apartments, a 244-unit multifamily community located at 1919 Walnut Plaza in the Dallas-Fort Worth metro of Carrollton. Estrada EP LP purchased the property from VTP Realty, an Irving-based firm, for an undisclosed price. The community was 96 percent occupied at the time of sale.

May 11, 2017

Civic Midwest Missouri

McCarthy Breaks Ground on Multi-Building Project at Washington University in St. Louis

by Kristin Harlow May 11, 2017

ST. LOUIS — McCarthy Building Cos. Inc. has broken ground on a multi-building project at the east end of Washington University’s Danforth Campus in St. Louis. McCarthy is constructing three new academic buildings, two multi-use pavilions and an underground parking facility. The project also includes a new landscape and an expansion of the Mildred Lane Kemper Art Museum. Notable components include Anabeth and John Weil Hall, an 82,100-square-foot interdisciplinary building that will serve as the new front door to the Sam Fox School of Design & Visual Arts. The majority of the construction is slated for completion prior to spring 2019 commencement.

May 11, 2017

Illinois Industrial Midwest

PREMIER to Construct 157,525 SF Industrial Property Near O’Hare Airport

by Kristin Harlow May 11, 2017

SCHILLER PARK, ILL. — PREMIER Design + Build Group LLC will construct a 157,525-square-foot industrial property in Schiller Park near the Chicago O’Hare International Airport. The project will include demolition of a bakery in order to build two separate industrial buildings in its place. Easily accessible to I-294, the property will feature an 84,700-square-foot building and a 72,825-square-foot building. Both facilities will feature 32-foot clear heights, truck courts, loading docks, ESFR sprinklers and retention ponds. Each building will be able to accommodate multiple tenants. Mark Melone, Christopher Kiziak and Zach Gadomski of PREMIER are responsible for the project. Cornerstone will provide architectural services, and Swift Structural Design and Knight Engineering will provide engineering expertise. Bridge Development Partners is the developer. The project will be completed by the end of the second quarter this year.

May 11, 2017

Newer Posts

Older Posts