Property Type

GBT Realty Begins Construction on $20M Apartment Community in Nashville

by John Nelson April 17, 2017

NASHVILLE, TENN. — GBT Realty Corp. has begun construction on Belcourt Park, a $20 million multifamily community situated on 0.7 acres in Nashville’s Hillsboro Village. Belcourt Park will include 76 units and an onsite leasing and management office. Community amenities include a Wi-Fi workspace, an espresso bar, fitness facility, patio with cabanas and fire pits and a concealed parking structure that can hold up to 84 cars. Pre-leasing is expected to start this winter with the first residents moving in no later than next spring. GBT Realty financed the development with an $11.4 million construction loan from Trustmark Corp. Belcourt Park brings GBT’s total current investment in Hillsboro Village to $65 million, including Village 21 at Regions Park.

April 17, 2017

Multifamily South Carolina Southeast Student Housing

Stonemont Breaks Ground on Student Housing Community Near Clemson University

by John Nelson April 17, 2017

CLEMSON, S.C. — Stonemont Financial Group has begun construction on Plaza One89, a 45-bed student housing community located near Clemson University in South Carolina. The four-story property, which is also home to 6,000 square feet of retail space leased to Amici Italian Café, will offer two- and four-bedroom, fully furnished units with balconies. Community amenities will include a rooftop patio, on-site parking and controlled access. The project is set to open this August.

April 17, 2017

Florida Multifamily Southeast

Federal Capital Partners Buys Two Apartment Communities in Tampa for $21M

by John Nelson April 17, 2017

TAMPA, FLA. — Federal Capital Partners has purchased two apartment communities in Tampa totaling 293 units for a combined $21 million. The properties include Poplar Park Terrace, a 165-unit community at 4111 N. Poplar Ave. that will soon be rebranded as The Flats at Seminole Heights, and Fernwood Grove, a 128-unit property located at 4900 N. MacDill Ave. Jason Stanton of Berkadia’s Tampa office represented the undisclosed seller in the transaction.

April 17, 2017

Florida Restaurant Southeast

Brodson Construction Completes Shake Shack Expansion in Miami Beach

by John Nelson April 17, 2017

MIAMI BEACH, FLA. — Brodson Construction has wrapped up construction on the expansion of Shake Shack on Lincoln Road in Miami Beach. Brodson expanded the restaurant by 586 square feet, bringing the eatery’s interior square footage to 2,231 square feet. Brodson has completed five Shake Shack locations in the Southeast and is currently building another in Orlando.

April 17, 2017

Retail Texas

Colliers Arranges Sale of Retail Strip Center in South Houston

by Taylor Williams April 17, 2017

HOUSTON — Colliers International Inc. has arranged the sale of a retail center located at 9335 Gulf Freeway in south Houston. Built in 2004, the strip center features 7,500 square feet of gross leasable space. Jason Tangen of Colliers represented the seller, a Hawaii-based private investor, in the transaction. At the time of sale, the property was 85 percent leased with a T-Mobile location on the end-cap.

April 17, 2017

Retail Texas

Hulu to Open 45,000 SF Viewer Operations Center in San Antonio

by Taylor Williams April 17, 2017

SAN ANTONIO — California-based video subscription company Hulu will open a viewer experience operations center in San Antonio. The center, which will measure 45,000 square feet, according to the San Antonio Express-News, will serve as a customer service center to aid the rollout of the company’s new live television service and redesigned interface. The opening of the center in 2017 is expected to create at least 500 new jobs by 2018.

April 17, 2017

Multifamily Seniors Housing Texas

Marcus & Millichap Brokers Sale of 87-Unit Seniors Housing Facility in Allen

by Taylor Williams April 17, 2017

ALLEN, TEXAS — Marcus & Millichap has brokered the sale of Texas Star Assisted Living, an 87-unit, 95-bed assisted living and memory care community located at 650 S. Greenville Ave. in Allen. Doug O’Toole of Marcus & Millichap represented the buyer, a national owner/operator of seniors housing properties, in the transaction. Nathan Tune of Coldwell Banker represented the seller, a Texas-based developer.

April 17, 2017

Retail Texas

Woodlands Development Co. Opens 784-Unit Self-Storage Facility in Metro Houston

by Taylor Williams April 17, 2017

THE WOODLANDS, TEXAS — The Woodlands Development Co., a division of The Howard Hughes Corp., has opened its second self-storage facility at 32010 FM 2978 in The Woodlands Village of Sterling Ridge, a mixed-use development on the northern outskirts of Houston. CubeSmart, a Pennsylvania-based self-storage REIT, will manage the 784-unit facility, which features gated entry, video surveillance and free moving truck services.

April 17, 2017

Industrial Texas

Stream Realty Negotiates 37,896 SF Industrial Lease in Arlington

by Taylor Williams April 17, 2017

ARLINGTON, TEXAS — Stream Realty Partners has negotiated a 37,896-square-foot lease on behalf of Restaurant Services Inc., a supply chain management firm, at 700 106th St., a 43,329-square-foot industrial property in Arlington. Eric Crutchfield, Ryan Boozer and Sarah Ozanne of Stream Realty represented the landlord, Checkerprop Texas 700 106th Street LLC, in the transaction. Ozanne and Luke Davis, also with Stream Realty, represented the tenant.

April 17, 2017

Illinois Loans Midwest Multifamily

Dougherty Mortgage Arranges $5.2M Supplemental Loan for Apartment Property in Palos Hills, Illinois

by Kristin Harlow April 17, 2017

PALOS HILLS, ILL. — Dougherty Mortgage LLC has arranged a $5.2 million Fannie Mae supplemental loan for Green Oaks Apartments in Palos Hills, a southwest suburb of Chicago. The property consists of 384 apartment units. The 7.9-year loan includes a 30-year amortization schedule, and was a supplemental loan for a previously closed refinancing. Dougherty’s Brentwood, Tenn. office arranged the loan for the borrower, Green Oaks at Palos Hills LP.

April 17, 2017

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