Property Type

InvenTrust Acquires Paraiso Parc and Westfork Plaza in Pembroke Pines, Florida, for $163M

by Kristin Harlow February 3, 2017

PEMBROKE PINES, FLA. — InvenTrust Properties Corp. has acquired Paraiso Parc and Westfork Plaza retail centers in Pembroke Pines for $163 million. The two adjacent centers are located approximately 20 miles north of Miami. Upon completion of an ongoing expansion project in mid-2017, the two centers will total approximately 389,000 square feet. The properties include national tenants such as Publix, Costco, Regal Cinemas, Ross and TJ Maxx. “The acquisition of Paraiso Parc and Westfork Plaza represents a truly unique opportunity to secure an A+ asset in one of South Florida’s strongest retail submarkets,” says Michael E. Podboy, CFO at InvenTrust. InvenTrust is a self-managed REIT that owns and manages 88 retail properties totaling 15.1 million square feet of retail space. —Kristin Hiller

February 3, 2017

Brownsville-Nursing-Rehab-Brownsville-TX

Loans Multifamily Seniors Housing Texas

KeyBank Provides $84.7M in HUD Financing for Six-Property Seniors Housing Portfolio in Texas

by Amy Works February 2, 2017

BROWNSVILLE, WESLACO, HARLINGEN AND EDINBURG, TEXAS — KeyBank Real Estate Capital has provided a total of $84.7 million in HUD financing for a six-property seniors housing portfolio located across Texas. Totaling 722 units, the portfolio includes Brownsville Nursing and Rehabilitation and Ebony Lake Nursing and Rehabilitation in Brownsville; Weslaco Nursing and Rehabilitation in Weslaco; Harlingen Nursing and Rehabilitation in Harlingen; and Edinburg Nursing and Rehabilitation and Windsor Arbor View in Edinburg. John Randolph of Key’s Commercial Mortgage Group arranged the financing through the HUD 232/223(f) mortgage insurance program for the undisclosed borrower. Loan proceeds were used to refinance existing debt.

February 2, 2017

Industrial Texas

Medline Industries Opens $59M Distribution Center in Metro Dallas

by Amy Works February 2, 2017

WILMER, TEXAS — Medline Industries has opened an 800,000-square-foot distribution center in Wilmer, a suburb of Dallas. The $59 million facility is located at Medline Drive and Interstate 45 within Sunridge Business Center. The facility currently employs 55 people. Medline is a manufacturer and distributor of medical products.

February 2, 2017

Multifamily Texas

Marcus & Millichap Facilitates Sale of 16-Unit Apartment Building in Dallas

by Amy Works February 2, 2017

DALLAS — Marcus & Millichap has arranged the sale of Reiger Place, an apartment building located at 4515 Reiger Ave. in Dallas. An undisclosed partnership acquired the 16-unit property for an undisclosed price. Constructed in 1955, the property offers one-bedroom/one-bath, 725-square-foot units. Nick Fluellen and Bard Hoover of Marcus & Millichap represented the seller, a limited liability company, while Fluellen, Hoover and Sean Scott, also of Marcus & Millichap, procured the buyer in the deal.

February 2, 2017

Industrial Texas

Cypressbrook Arranges 40,352 SF Industrial Lease in Houston

by Amy Works February 2, 2017

HOUSTON — Cypressbrook Co. has arranged the lease of industrial space at Prologis Pine Forest, an industrial park located at 575 W. 38th St. in Houston. SRG Ventures, a custom furniture maker, will occupy 40,352 square feet of space at the development. John Hornbuckle and Joyce Sterling of Cypressbrook Co. represented the tenant, while Beau Kaleel and Allison Hall of Cushman & Wakefield represented the landlord, PrologisWN2 LLC, in the transaction.

February 2, 2017

Office Texas

Colliers Brokers 30,137 SF Office Lease in Uptown Dallas

by Amy Works February 2, 2017

DALLAS — Colliers International has arranged the lease of office space at Rosewood Court, an office building located at 2101 Cedar Springs Road in Dallas’ Uptown district. CyrusOne LLC, a data center solutions and colocation services provider, will relocate its corporate headquarters to 30,137 square feet at the property. David Wetherington, Tyler Howarth and Chelsea Story of Colliers International represented the tenant, while Mike Wyatt and Travis Boothe of Cushman & Wakefield represented the undisclosed landlord in the deal.

February 2, 2017

Northeast Pennsylvania Retail

Phillips Edison Acquires Retail Center in Lehigh Valley for $32.3M

by Amy Works February 2, 2017

EASTON, PA. — Phillips Edison has acquired Palmer Town Centre, a shopping center located in Easton, for $32.3 million. Anchored by Giant Foods Supermarket and Marshalls, the property offers 153,085 square feet of retail space. Colliers International represented the seller, Los Angeles-based The Festival Cos., in the deal.

February 2, 2017

Industrial New Jersey Northeast

Endurance, Thackeray Partners Acquire 305,250 SF Warehouse Facility in Mount Laurel, New Jersey

by Amy Works February 2, 2017

MOUNT LAUREL, N.J. — An affiliate of Endurance Real Estate Group and Thackeray Partners have purchased a warehouse and distribution facility located at 2000 Bishop Gate Blvd. in Mount Laurel. An undisclosed corporate user sold the 305,250-square-foot property for an undisclosed price. The property features 30-foot clear ceiling heights, 25 dock-high loading doors, an ESFR sprinkler system and Comcast fiber service. CBRE represented the seller in the transaction.

February 2, 2017

Multifamily Northeast Rhode Island

CBRE/NE Negotiates Sale of 85-Unit Apartment Building in Rhode Island

by Amy Works February 2, 2017

PROVIDENCE, R.I. — CBRE/New England has arranged the sale of Grant Mill, an apartment building located in Providence. Brady Sullivan Rhode Island Properties sold the 85-unit building to an affiliate of Heritage Properties for an undisclosed price. Converted from a mill building into an apartment property in 2009, Grant Mill features 85 units in a mix of one-, two- and three-bedroom units, a community room with billiards, fitness center, media room, resident storage, 111 surface parking spaces and 28 garage parking spaces. Simon Butler and Biria St. John of CBRE/NE represented the seller and procured the buyer in the deal.

February 2, 2017

Colorado Multifamily Western

Pathfinder Partners Buys Two Apartment Communities in Boulder for $24M

by Nellie Day February 2, 2017

BOULDER, COLO. — Pathfinder Partners has purchased two adjacent multifamily communities in Boulder for $24 million. The communities included in the transaction are the 50-unit Villa Del Prado and the 32-unit Chateau at Villa Del Prado. Villa Del Prado has a parking garage, indoor pool, spa, sauna and clubhouse, while Chateau has parking and a covered pool. Pathfinder plans to renovate the interiors, upgrade the amenities and incorporate green features. The Colorado office of ARA Newmark brokered the transaction.

February 2, 2017

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