Property Type

Centrepointe Plaza in Colton Sells for $22M

by Nellie Day July 12, 2016

COLTON, CALIF. — Centrepointe – JMYL PL has acquired Centrepointe Plaza, located at 1040 S. Mt. Vernon Ave. in Colton, for $22 million. Constructed in 1992, the center features 109,000 square feet of retail space. NorthStar Realty Finance, in conjunction with Wilemon & Associates and JB Resources, provided financing for the acquisition. Mario Alvarez of NAI Capital and Jack Lee of JMYL LP development represented the buyer, while Jamie Harrison of Lee & Associates represented the seller, Chicago-based Centrepointe Plaza, in the deal. The buyer purchased the property as a value-add opportunity.

July 12, 2016

Arizona Loans Multifamily Western

NXT Capital Provides $29.6M in Acquisition Financing for Signature Place Apartments in Phoenix

by Nellie Day July 12, 2016

PHOENIX — NXT Capital has provided $29.6 million in acquisition financing for its sponsor to acquire 300 units of the 440-unit Signature Place apartment community in Phoenix. The community is located at 600 W. Grove Parkway. Signature Place is situated near Arizona State University, Tempe Town Lake, ASU Research Park, the South 101 corridor and the Sky Harbor International Airport. Amenities include a fitness center, two pools, an indoor racquetball court, tennis court, and access to mountain trails and a putting green. NXT’s sponsor in the transaction manages more than 2,000 units across metro Phoenix. Brandon Harrington of Walker & Dunlop placed the loan with NXT.

July 12, 2016

California Retail Western

New Hollywood Park Casino to Open this Fall in Inglewood

by Nellie Day July 12, 2016

INGLEWOOD, CALIF. — Hollywood Park Casino Co. has announced the new Cary Grant Pavilion at Hollywood Park Casino (HPC) will open this fall in Inglewood. The casino will be situated on nearly 11 acres that face the newly expanded Century Boulevard, just a few miles from downtown Los Angeles and minutes from Los Angeles International Airport (LAX). Cary Grant Pavilion at HPC will be built just steps away from the former site of Hollywood Park Casino. The new iteration will contain 110,000 square feet, with 125 card game tables, simulcast wagering, Century Bar & Grill, a lounge and a gourmet café. Developers broke ground in July 2015. JCJ Architecture designed the property.

July 12, 2016

Hospitality Loans Texas

PCCP Provides $73.1M Construction Loan for InterContinental Houston

by Haisten Willis July 12, 2016

HOUSTON — PCCP LLC has provided a $73.1 million senior construction loan to Houston-based Medistar Corp. for the development of the 21-story InterContinental Houston Medical Center in Houston. The hotel will include 353 rooms and a six-story parking garage, along with 11,800 square feet of meeting space and a 7,800-square-foot ballroom. Medistar has retained Houston-based TRC Capital Partners, a hotel development firm, to co-develop the project. Construction has begun and is scheduled for completion in late 2018. InterContinental Hotel Group (IHG) will provide management services as the full-service operator at the property. The hotel will be developed on a 60,000-square-foot site bordered by Main Street and Old Main Street and adjacent to the Texas Medical Center of Houston. The hotel’s ground floor will contain the lobby, reception area, restaurant, bar and lounge, with the parking garage directly above the ground-floor amenities. The remaining 13 floors will contain a fitness center, outdoor pool, guestrooms and suites.

July 12, 2016

Industrial Office Texas

Triathlon Battery Solutions Moves U.S. Headquarters to Metro Dallas

by Haisten Willis July 12, 2016

COPPELL, TEXAS — Addison-based Biel Partners has brokered a 19,000-square-foot office/warehouse lease for Triathlon Battery Solutions Inc. The company is a United States incorporated entity with investment backing from its German parent, Triathlon Batterien GmbH. The new location will be Triathlon’s headquarters within the United States. Triathlon supplies clients with lead-acid and lithium-ion batteries powering equipment such as electric forklifts and pallet jacks, electric industrial trucks and mobile lifting platforms. Triathlon occupied its new space at 631 Southwestern Blvd., Suite 140 in Coppell earlier this month and will hold a grand opening ceremony in October. Jeremy Kelly of Stream Realty Partners represented the landlord, ML Realty, in the lease deal.

July 12, 2016

Healthcare Texas

McCarthy to Build New Facility for Texas Children’s Hospital in Houston

by Haisten Willis July 12, 2016

HOUSTON — McCarthy Building Cos. has begun construction on a facility for Texas Children’s Hospital that will house the hospital’s pediatric and residents’ primary care group clinic. The project includes the demolition of existing interior space and construction of a 20,000-square-foot facility. When completed in November, the building will include a waiting area, exam rooms, nurses’ stations, administrative offices, staff lounge, storage, radiology and ultrasound space and a work room. Preston Hodges and Mike Kacal lead McCarthy’s specialized solutions group, which focuses on healthcare, laboratory and higher education interior renovation projects.

July 12, 2016

Industrial Texas

TDC Acquires 1.4M SF DHL Supply Chain Property in Fort Worth

by Haisten Willis July 12, 2016

FORT WORTH, TEXAS — Transpacific Development Co. (TDC) has acquired a 1.4 million-square-foot distribution building in Fort Worth developed and occupied by logistics solutions provider DHL Supply Chain. Completed in June, the property is located at 5600 Mark IV Parkway, near the intersection of I-35 and I-820. John Huguenard and Sean Devaney of JLL represented DHL Supply Chain in the transaction. 5600 Mark IV Parkway was built with 36-foot clear heights, 154 dock doors, parking for 200 cars and 350 trailers and an ESFR fire suppression system. The building’s infrastructure was reinforced to withstand 120-mile-per-hour winds. DHL is preparing to break ground on a speculative basis on an adjacent building, totaling 712,500 square feet, with similar specifications. That building is scheduled for completion next spring.

July 12, 2016

Office Texas

Aprima Medical Software Relocates Headquarters to Richardson

by Haisten Willis July 12, 2016

RICHARDSON, TEXAS — Aprima Medical Software Inc., a provider of electronic health records, practice management and revenue cycle management solutions for medical practices, has signed a lease for its 55,000-square-foot corporate headquarters at 1010 E. Arapaho Road in Richardson. The facility will house 250 Aprima employees, who will be relocating from other north Texas facilities, including the company’s current headquarters in Carrollton. Aprima expects to occupy the new facility beginning in August. The new headquarters will house Aprima’s corporate administrative functions, product development, customer support, training and project management and revenue cycle management operations. John Roper of CBRE represented the tenant in lease negotiations. Momentum Commercial Realty’s Roy Greenberg and Bryan Lurie handled negotiations on behalf of the property owner. Dallas-based Momentum Commercial Realty recently acquired the three-story office building known as 1010 Arapaho, in which Aprima’s new headquarters will be based.

July 12, 2016

Multifamily New Jersey Northeast Pennsylvania Seniors Housing

Formation-Shelbourne Senior Living Services Sells Two Communities in New Jersey, Pennsylvania for $98.2M

by Amy Works July 12, 2016

ROSELAND, N.J., AND WILLISTOWN, PA. — Formation-Shelbourne Senior Living Services has completed the disposition of two Class A seniors housing communities — The Solana Roseland in Roseland and The Solana Willistown in Willistown. An undisclosed buyer acquired The Solana portfolio for $98.2 million. The portfolio encompasses 118 assisted living and 53 memory care units in a variety of options ranging from studio to two-bedroom floor plans. The Solana Roseland is located at 345 Eagle Rock Ave. in Roseland, and The Solana Willistown is located at 1713 W. Chester Pike in the Philadelphia suburb of Willistown. Completed in 2013, the properties are 94 percent leased and total 74,222 rentable square feet. Ryan Maconachy and Chad Lavender of HFF represented the seller in the transaction. Additionally, Sarah Baccich of HFF secured a $63.9 million acquisition loan, provided by Cornerstone Real Estate Advisors, for the buyer.

July 12, 2016

Massachusetts Mixed-Use Multifamily Northeast Retail

Trinity Financial Breaks Ground on 83-Unit Mixed-Use Development in Boston

by Amy Works July 12, 2016

BOSTON — Trinity Financial has broken ground on Treadmark, a mixed-income, mixed-use development located in the Ashmont section of Boston’s Dorchester neighborhood. Situated at 1971-1977 Dorchester Ave., the 83-unit property will be comprised of 51 affordable rental units and 32 ownership units, all designed by Boston-based Taniya Nayak Design. Additionally, the project will feature ground-floor retail space. The Architectural Team is providing architectural services for the project. Financing for the development includes more than $3 million in state and federal tax credits that will generate approximately $22 million in equity for the project, $3 million in rental subsidy funds and more than $4 million in funding from the City of Boston.

July 12, 2016

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