Property Type

EagleBridge Capital Arranges $9.5M Loan for 24-Unit Apartment Complex in Boston

by Amy Works October 26, 2016

BOSTON — EagleBridge Capital has arranged $9.5 million in permanent mortgage financing for an apartment complex located at 8-12-16 Harvard Terrace in Boston’s Allston neighborhood. Brian Sheehan and Ted Sidel of EagleBridge secured the loan, which was provided by a major commercial bank, for the undisclosed borrower. The fully occupied three-building apartment complex features 18 three-bedroom/two-bath units and six two-bedroom/one-bath units. Apartments feature hardwood floors, fully equipped designer kitchens with stainless steel appliances, granite countertops, contemporary cabinetry and a private balcony or patio.

October 26, 2016

Massachusetts Multifamily Northeast

True North Capital Partners Acquires 207-Unit Apartment Community in Waltham, Massachusetts

by Amy Works October 26, 2016

WALTHAM, MASS. — An affiliate of True North Capital Partners has acquired Waltham Overlook, an apartment community located in Waltham, for an undisclosed sum. Built in 1979 and renovated in 2010, the community comprises nine three-story garden-style apartment buildings, a fitness center, outdoor pool, grill area and sun deck. The property features 207 apartment units in a mix of one- and two-bedroom layouts. Simon Butler and Biria St. John of CBRE/New England represented the undisclosed seller and procured the buyer in the deal.

October 26, 2016

New York Northeast Retail

The North Face Launches First Flagship Store in NYC on Fifth Avenue

by Amy Works October 26, 2016

NEW YORK CITY — The North Face has opened its first-ever flagship store in New York City. Located at 510 Fifth Ave., the 20,000-square-foot store offers an immersive brand experience for customers by bringing the beauty of outdoor exploration inside while inspiring customers to push their limits outside. The new store features a climbing wall; custom product available only at the Fifth Avenue location, including a limited edition Original Daypack collection, a collaboration with New Era; and on-site product customization featuring vintage and new collectible patches in partnership with Lot, Stock and Barrel. Additionally, the store has specialist associates on hand to assist customers with choosing technical apparel. This year marks the 50th anniversary of The North Face, which was founded in 1966.

October 26, 2016

Connecticut Industrial Northeast Office

O,R&L Commercial Arranges Sale of 28,712 SF Industrial/Office Building in East Haven, Connecticut

by Amy Works October 26, 2016

EAST HAVEN, CONN. — O,R&L Commercial has arranged the sale of the former Connecticut Food Bank building, located at 150 Bradley St. in East Haven. Mario Luciani acquired the 28,712-square-foot industrial and office property for an undisclosed price. The buyer plans to use the building as headquarters for his ServPro franchises. Frank Hird and Tim McMahon of O,R&L Commercial represented the undisclosed seller, while Natuzza Dimasi of William Raveis Real Estate represented the buyer in the transaction.

October 26, 2016

Hospitality Texas

Q Hotels Plans $39.5M Dual-Branded Marriott Hotel in Arlington

by Haisten Willis October 26, 2016

ARLINGTON, TEXAS — Q Hotels plans to develop and operate a $39.5 million, dual-branded Marriott hotel property at 3800 S. Collins St. in Arlington. Construction on the combined SpringHill Suites and TownePlace Suites will begin in December and end in summer 2018. The 230-room hotel will include 130 suites for traditional hotel guests and 100 extended-stay suites. Outdoor amenities will include an event lawn and amphitheater-style entertaining space. Indoor amenities will include a gym, steam room, dry sauna and restaurants.

October 26, 2016

Multifamily Texas

StreetLights Residential Opens The Carter Apartment Community in Houston

by Haisten Willis October 26, 2016

HOUSTON — StreetLights Residential has opened The Carter, a 305-unit apartment community in Houston. Located on Chelsea Boulevard just east of Montrose Boulevard, The Carter is situated near Hermann Park, midtown, downtown, the Texas Medical Center and Rice University. On-site amenities include a bar, fitness center, conference center, pet washing station, dog park, pool and 24-hour concierge service. The Carter’s fitness center features Precor fitness equipment, flex fitness room with spin bikes and a yoga studio. There is also a lounge with billiards and a card table located on the 19th floor. The Carter offers one-, two- and three-bedroom residences, along with four townhomes and five penthouses. Units range from 723 to 3,329 square feet. Unit amenities include 10-foot ceilings, granite countertops and backsplashes, hardwood flooring and stainless steel appliances. GDA Architects designed the building, Lynda Tycher & Associates designed the landscape and SLR Texas Construction served as the general contractor. StreetLights Residential and 5G Studio collaborated on the interior design. Lincoln Property Co. will manage the community.

October 26, 2016

Multifamily Texas

Transwestern Arranges Three Multifamily Sales in Metro Houston Totaling 773 Units

by Haisten Willis October 26, 2016

HOUSTON and GALVESTON, TEXAS — Transwestern has arranged the sale of three multifamily properties in metro Houston totaling 773 units. Transwestern’s Ed Cummins, Tim Gregory, Ryan Mendez, Kenady Davis and Lupe Olivares represented the sellers. The transactions include: Park Hollow, a 172-unit community located at 4343 S. Shaver St. in Houston, was purchased for an undisclosed amount. Transwestern represented the seller, Umbrella Home LLC, in the transaction. Maxey Village, a 409-unit community located at 666 Maxey Road in Houston, was purchased for an undisclosed amount. Transwestern represented the seller, Sintoro Capital LLC, in the transaction. Park at Cedar Lawn, a 192-unit community located at 4400 Ave. N. in Galveston, was purchased for an undisclosed amount. Transwestern represented the seller, Mosaic PCL LP, in the transaction.

October 26, 2016

Multifamily Texas

DCM Acquires 240-Unit Apartment Property in Metro Houston

by Haisten Willis October 26, 2016

BAYTOWN, TEXAS — Drever Capital Management (DCM) has acquired Aria at Rollingbrook, a 240-unit apartment community previously known as Watercolor, in Baytown. DCM purchased the property, located at 1700 Rollingbrook Drive, from The Leyendecker Group of Houston. A renovation program is planned to enhance the community and resident experience. Interior upgrades will include granite kitchen countertops, Energy Star appliances and a washer and dryer in each unit. Clint Duncan of CBRE’s Houston office represented the seller in the transaction. Tom Cabibi of DCM internally represented the buyer.

October 26, 2016

Multifamily Texas

SACA Brokers Sale of Veranda at Landa Apartments in New Braunfels

by Haisten Willis October 26, 2016

NEW BRANFELS, TEXAS — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has brokered the sale of Veranda at Landa, a 61-unit apartment community located near Landa Park in New Braunfels. The property was built in 1964 and renovated in 2013 and 2015. Veranda at Landa sits on 2.8 acres with eight, two-story buildings. Amenities include a swimming pool and dog park. SACA’s Brandon Lo Porto and Scott Weems arranged the transaction on behalf of the seller.

October 26, 2016

Industrial Iowa Midwest

Hubbell Begins Construction on 110,000 SF Distribution Center in Grimes, Iowa

by Katie Sloan October 26, 2016

GRIMES, IOWA — Hubbell Realty Co. has begun construction on the fourth industrial building at Grimes Distribution Center, located at 1300 SE Little Beaver Drive near Des Moines. The 110,000-square-foot facility will be identical to the three other buildings. Grimes Distribution Center 4, located minutes from I-80/35 via Iowa Highway 141, has the ability to accommodate tenant space requirements in 10,000-square-foot increments, complete with a 24-foot clear ceiling height. The building is scheduled to be ready for occupancy in June 2017. Similar to the first three buildings, Grimes Distribution Center 4 will contain eleven 10,000-square-foot bays that measure 50-by-200 feet. Each bay will feature a 9-by-10 foot dock, and four of the bays will have 16-foot drive-in doors. The building will be fitted with an early suppression fast response (ESFR) fire sprinkler system; a 480-volt, three-phase 2,500 amp electric service; and T-8 fluorescent lighting.

October 26, 2016

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