Property Type

Oakmont Industrial to Develop 673,785 SF Speculative Warehouse in Metro Houston

by Taylor Williams October 10, 2017

KATY, TEXAS — Atlanta-based Oakmont Industrial Group will develop a 673,785-square-foot warehouse within the master-planned West Ten Business Park in the Houston metro of Katy. Situated on a 42-acre parcel, the property is being developed on a speculative basis and will feature 36-foot clear heights, cross-dock loading, 56-foot wide column spacing, an ESFR sprinkler system and LED warehouse lighting. The property will also offer parking for 691 automobiles and 256 trailers, as well as quick access to the Grand Parkway/State Highway 99 interchange. Construction is scheduled for a July 2018 completion. John Simons and Holden Rushing of NAI Partners brokered the land sale and will represent Oakmont in leasing the property.

October 10, 2017

Marcus & Millichap Brokers $36.7M Sale of Four Multifamily Assets in DFW

by Taylor Williams October 10, 2017

DALLAS AND FORT WORTH, TEXAS — Marcus & Millichap has brokered the sales of four multifamily properties totaling 573 units located throughout the Dallas-Fort Worth (DFW) area. The combined sales price was approximately $36.7 million. The properties include the 156-unit Castlewinds Apartments in the North Richland Hills submarket of Fort Worth; the 69-unit El Ranchito Apartments in western Fort Worth; the 188-unit Knollwood Apartments in Irving; and the 160-unit Holly Park Apartments in east Dallas. Al Silva, Ford Braly and Mark McCoy of Marcus & Millichap represented the private sellers and procured the buyers for all four transactions.

October 10, 2017

Industrial Texas

JLL Negotiates 181,450 SF Industrial Lease for Plastics Producer in Houston

by Taylor Williams October 10, 2017

HOUSTON — JLL has negotiated a 181,450-square-foot industrial lease on behalf of Starplast, an Israeli manufacturer of plastics products, at North Point 8111, a 250,660-square-foot industrial building within Point North Cargo Park in Houston. Located at the intersection of FM 1960 and U.S. Highway 59, the facility will serve as the company’s base of U.S. manufacturing operations. Property features include a cross-dock configuration, 28-foot clear heights and fully fenced outside storage. Ryan Fuselier and Travis Secor of JLL represented Starplast in the lease negotiations. David Hudson of Duke Realty represented the landlord internally.

October 10, 2017

Multifamily Texas

MetroNational to Open 133-Unit High-Rise Apartment Complex in Houston

by Taylor Williams October 10, 2017

HOUSTON — MetroNational, a Houston-based investment and development firm, will open The McCarthy, a 133-unit high-rise apartment complex located atop Houston’s Hotel Zaza Memorial City. A mix of studio, one- and two-bedroom units will span seven levels of the 17-story structure. Amenities will include a pool and cabanas, fitness center with on-demand classes, catering kitchen and private dining room and a laptop bar. The opening of The McCarthy is scheduled for January 2018.

October 10, 2017

Hospitality Loans Texas

RealtyShares Closes $2.4M Equity Financing for Sheraton Hotel in Irving

by Taylor Williams October 10, 2017

IRVING, TEXAS — RealtyShares, a San Francisco-based financial intermediary, has closed a $2.4 million equity investment for the Sheraton DFW Airport Hotel, a 302-room hotel located at 4440 W. John Carpenter Freeway in Irving. The company arranged the funds on behalf of The Buccini/Pollin Group, a Delaware-based investment and management firm. The property, which is located about eight miles from the Dallas-Fort Worth International Airport, features three restaurants, 23 banquet and meeting rooms and 25,000 square feet of meeting space.

October 10, 2017

Florida Loans Multifamily Southeast

Berkadia Secures $98.9M in Acquisition Financing for Two Apartment Assets in Florida

by Camren Skelton October 10, 2017

COCONUT CREEK AND SARASOTA, FLA. — Berkadia has arranged $98.9 million in financing for the purchase of two multifamily assets in Florida. Advenir, a South Florida-based real estate investment company, purchased both communities from Wood Partners, an Atlanta-based multifamily developer and investor. Charles Foschini and Christopher Apone of Berkadia arranged a $52.3 million loan for Crown Pointe, a 360-unit multifamily community in Coconut Creek, as well as a $46.6 million loan for Gateway Lakes, a 358-unit apartment community in Sarasota. Both Freddie Mac loans feature seven-year terms, three years of interest-only payments and a loan-to-value ratio of 80 percent. Constructed in 1986, Crown Pointe features a clubhouse, fitness center, two pools with a spa and a 626-seat performing arts center. Gateway Lakes, constructed in 1996, features a newly redesigned clubhouse, fitness center and a pool area with a sundeck.

October 10, 2017

Multifamily Southeast Tennessee

Cushman & Wakefield Arranges $85.4M Sale of Multifamily Asset in Nashville’s Cool Springs District

by Camren Skelton October 10, 2017

FRANKLIN, TENN. — Cushman & Wakefield has arranged the sale of ALARA Cool Springs, a 386-unit apartment community in Franklin, a city 20 miles south of Nashville in the metro’s Cool Springs submarket. Robert Stickel, Chris Spain, Alex Brown and Brad Boston of Cushman & Wakefield represented the seller, American Realty Advisors, in the transaction. Los Angeles-based IMT Capital purchased the property for $85.4 million, according to the Nashville Business Journal. Constructed in 1997, ALARA Cool Springs features a resort-style pool, outdoor lounge and fireplace, fitness facility and nature trails. In addition, the property is located within walking distance to numerous retail and dining options.

October 10, 2017

Florida Office Southeast

NayaUmi Purchases Four-Building Office Complex in Miami for $40M

by Camren Skelton October 10, 2017

MIAMI — NayaUmi LLC has purchased Lennar Corporate Center, a four-building office complex in Miami, for $40 million. NayaUmi is a partnership between Naya USA LLC, led by Yoav Merary, and Coast Capital Partners LLC, led by Guy Sharon. Hermen Rodriguez, Ike Ojala and Tracey Goo of HFF represented the seller, Colony Realty Partners, and procured the buyer. Christopher Apone and Charles Foschini of Berkadia arranged a 10-year, $28.6 million loan through a CMBS lender on behalf of the buyer. The loan features partial interest-only payments and a 72 percent loan to value ratio. Located at 700, 730, 760 and 790 N.W. 107 Ave., Lennar Corporate Center was originally built by Lennar Corp. and has served as the title insurance company’s headquarters since 1982. The property was 63 percent leased at the time of sale to tenants affiliated with Lennar, including Rialto Capital Management, Eagle Home Mortgage and North American Title Co.

October 10, 2017

Multifamily Southeast Tennessee

Michaelson Acquires Apartment Community in Knoxville for $17.8M

by Camren Skelton October 10, 2017

KNOXVILLE, TENN. — Michaelson Real Estate Group has purchased Viera Cedar Bluff, a 184-unit multifamily community in the Cedar Bluff neighborhood of Knoxville, for $17.8 million. Located at 424 N. Cedar Bluff Road, the community is roughly 10 miles west of downtown Knoxville. Viera Cedar Bluff includes one- and two-bedroom floor plans with an average size of 849 square feet. Constructed in 1986, the community was recently renovated to include repaved parking lots, new roofs and interior and exterior updates, including renovated hardwood flooring and stainless steel appliances. Community amenities include a pool, fitness center, business center, hiking and jogging trails and an on-site laundry facility.

October 10, 2017

Florida Retail Southeast

HFF Brokers Sale of 36,900 SF Whole Foods-Leased Store in Tampa

by Camren Skelton October 10, 2017

TAMPA, FLA. — HFF has arranged the sale of a 36,900-square-foot building fully leased to Whole Foods Market in Tampa. Constructed in 2012, the building is situated on 6.3 acres in Tampa’s Carrollwood community. Daniel Finkle, Luis Castillo and Eric Williams of HFF represented the seller, Weingarten Realty Investors, in the transaction. The sales price and buyer were not disclosed.

October 10, 2017

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