Property Type

NewMark Merrill Secures $62M Refinancing, Delivers 442,000 SF Retail Center in Longmont

by Nellie Day September 28, 2017

LONGMONT, COLO. — NewMark Merrill Mountain States has secured $62 million in refinancing and completed construction on Village at the Peaks, a 442,000-square-foot shopping center in Longmont. Village at the Peaks is over 90 percent leased to nearly 40 tenants including Whole Foods Market, Sam’s Club, Regal Cinemas, Gold’s Gym, Party City, Tuesday Morning, Bad Daddy’s Burger Bar, Ozo Coffee Co. and Fuzzy’s Taco Shop. The five-year development process involved a public/private partnership with the City of Longmont, and represents over $100 million in investment. Bank of the Ozarks provided original construction financing for the project. Joe Monteleone of Triad Capital Advisors arranged the refinancing on behalf of NewMark Merrill through Allianz Real Estate of America. Sandy Sigal, Sandra Kist and Allen Ginsborg of NewMarket Merrill oversaw the refinancing.

September 28, 2017

California Loans Office Western

Bridge Investment Group Receives $54.5M to Acquire San Mateo Office Property

by Nellie Day September 28, 2017

SAN MATEO, CALIF. — Bridge Investment Group has received a $54.5 million loan to acquire an office property in San Mateo. The loan includes a future funding component for planned capital improvements and leasing costs. The new owner plans to modernize the property. The loan was funded under KeyBank’s non-recourse bridge lending program. The program offers high-leverage, non-recourse loans for cash flowing properties.

September 28, 2017

Arizona Industrial Western

Confluent Development, DPC Cos. Plan 225,000 SF Industrial Project in Phoenix

by Nellie Day September 28, 2017

PHOENIX — A joint venture between Confluent Development and DPC Cos. has announced plans to develop a 225,000-square-foot spec industrial development in Phoenix. The project will be situated in the Sky Harbor International Airport submarket. The JV acquired a former grocery warehouse building, which will be torn down ahead of construction. This is Confluent Development’s first ground-up development in the market.

September 28, 2017

Colorado Multifamily Western

Stoneleigh Cos., Realty Capital Management to Develop 85-Unit Apartment Complex in Glenwood Springs

by Nellie Day September 28, 2017

GLENWOOD SPRINGS, COLO. — A joint venture between Stoneleigh Cos. and Realty Capital Management has acquired 3.8 acres of land to build The Lofts at Red Mountain Apartments, an 85-unit apartment community with ground-floor retail in Glenwood Springs. The land is situated at south of Wulfsohn Road, adjacent to the Glenwood Meadows Market Street and Shopping Center. The Lofts at Red Mountain has an on-site RFTA bus stop, situated next to the Glenwood Springs Community and Recreation Center. It is also adjacent to the Glenwood Springs trail system. The developers have already broken ground on Phase I, with completion scheduled for early 2019. RVC Construction is building the project, which KCB Architecture designed. SunGate Capital Funding 7 LLC, Stoneleigh Cos. LLC and Realty Capital Partners provided equity financing.

September 28, 2017

Multifamily Texas

Greystar to Develop 341-Unit Multifamily Community in Fort Worth

by Taylor Williams September 28, 2017

FORT WORTH, TEXAS — Greystar will develop Elan at River District, a 341-unit multifamily community that will be located roughly 10 minutes from downtown Fort Worth. Designed by Houston-based Meeks + Partners, the project will consist of 325 apartment units ranging in size from 491 to 1,268 square feet and 16 townhome units that measure up to 2,031 square feet. Amenities will include a lounge/game room, fitness wing, pool area with an outdoor kitchen and a media room. Construction is expected to be complete by the first quarter of 2018.

September 28, 2017

Loans Multifamily Texas

Dougherty Closes $34.3M Acquisition Loan for 270-Unit Apartment Community in Plano

by Taylor Williams September 28, 2017

PLANO, TEXAS — Dougherty Mortgage has closed a $34.3 million Fannie Mae loan for the acquisition of The Domaine Apartment Homes, a 270-unit multifamily community located at 6400 Windcrest Drive in Plano. Dougherty arranged the 10-year loan, which features five years of interest-only payments and a 30-year amortization schedule, on behalf of the borrower, Domaine Apartments LLC.

September 28, 2017

Multifamily Texas

Transwestern Brokers Sale of 164-Unit Apartment Complex in Beaumont

by Taylor Williams September 28, 2017

BEAUMONT, TEXAS — Transwestern has brokered the sale of Pindo Pointe, a 164-unit multifamily asset located at 7390 Pindo Circle in the East Texas city of Beaumont. Ed Cummins and Ryan Mendez of Transwestern represented the landlord, Parkdale Pinto LLC, in the transaction. Ohio-based Winslow Asset Management purchased the property for an undisclosed price.

September 28, 2017

Office Texas

NAI Partners Secures 31,792 SF Office Lease in Houston

by Taylor Williams September 28, 2017

HOUSTON — NAI Partners has secured a 31,792-square-foot office lease at 15990 N. Barkers Landing Road in Houston on behalf of 2H Offshore, a Houston-based engineering firm. Jon Silberman of NAI Partners represented the tenant in the lease negotiations. Michelle Wogan and Monte Calvert of Transwestern represented the landlord, Banyan Street/GAP Timberway One Owner LLC.

September 28, 2017

Retail Texas

Orangetheory Fitness to Open 25th Location in DFW Area

by Taylor Williams September 28, 2017

BURLESON, TEXAS — Orangetheory Fitness will open a 4,050-square-foot location at Burleson Commons, a grocery-anchored shopping center in the southern Fort Worth metro of Burleson. Owned by Cullinan Properties, the center is located at 1561 Wilshire St. This gym will be the company’s sixth location in the Burleson area and its 25th overall in the Dallas-Fort Worth (DFW) area. The opening is currently scheduled for mid-December.

September 28, 2017

Multifamily New York Northeast

Cignature Realty Brokers $30.8M Sale of 79-Unit Multifamily Building in Manhattan

by Amy Works September 28, 2017

NEW YORK CITY — Cignature Realty Associates has arranged the sale of a six-story multifamily building located at 336 Fort Washington Ave. in Manhattan’s Washington Heights. Michael Aryeh of Heritage Realty acquired the property from Fort Washington 336 for $30.8 million, or $402.32 per square foot. Built in 1924, the 76,536-square-foot property features 79 apartment units. Peter Vanderpool of Cignature Realty represented the buyer and seller in the deal.

September 28, 2017

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