Property Type

Spaces to Open Co-Working Office Locations in Midtown Atlanta, The Battery Atlanta

by John Nelson January 25, 2017

ATLANTA — Spaces, a co-working office space brand owned by Regus, plans to open a new location at 715 Peachtree in Midtown Atlanta. Situated across from the Fox Theatre, Spaces Midtown East will provide more than 100 private offices, 40 private desks, a 10,000-square-foot business club, hospitality-quality services and three meeting rooms available to Spaces members and community residents. The new Midtown location, the brand’s fourth in North America, is set to open on February 6, with co-working memberships starting at $199. In mid-2017, Spaces will open Spaces Atlanta-The Battery at SunTrust Park at The Battery Atlanta, a $1 billion mixed-use village surrounding SunTrust Park, the Atlanta Braves’ new ballpark in Cobb County. All Spaces locations provide 24/7 access to dedicated desks and office space for members, as well as access Monday through Friday to the business club.

January 25, 2017

Georgia Loans Multifamily Southeast

Bellwether Enterprise Secures $18.7M Refinancing for Multifamily Portfolio in Metro Atlanta

by John Nelson January 25, 2017

ATLANTA — Bellwether Enterprise has arranged the $18.7 million refinancing of a 12-property, 458-unit multifamily portfolio in the metro Atlanta area. Kelly Martone of Bellwether Enterprise’s Atlanta office arranged the financing on behalf of the borrower, Nelkin Real Estate. The financing includes a fixed-to-float hybrid lending structure, fixed 4.07 percent interest rate for 10 years and three years of interest-only payments.

January 25, 2017

Alabama Florida Seniors Housing Southeast

SLIB Brokers Sale of Two Seniors Housing Communities in Alabama, Florida

by John Nelson January 25, 2017

PRATTVILLE, ALA., AND ORMOND BEACH, FLA. — Senior Living Investment Brokerage (SLIB) has arranged the sale of seniors housing communities in Alabama and Florida. In the first transaction, SLIB arranged the sale of Green Springs, a 32-unit assisted living community in the Montgomery suburb of Prattville. The 4.5-acre site will allow future expansion of the community. In the second transaction, SLIB arranged the sale of Seasons by Riviera, a 36-unit memory care community in Ormond Beach, a coastal town located between Jacksonville and Orlando. The buyer intends to re-open the vacant community. Bradley Clousing of SLIB brokered both transactions. The sales prices were undisclosed.

January 25, 2017

Louisiana Retail Southeast

Venture Commercial, SRSA Arrange Northern Tool + Equipment’s Lease in Lake Charles

by John Nelson January 25, 2017

LAKE CHARLES, LA. — Venture Commercial Real Estate and SRSA Commercial Real Estate, two real estate brokerage firms and members of X Team International, have arranged a 19,019-square-foot retail lease in Lake Charles. The tenant, Northern Tool + Equipment, will be situated within Park Plaza Shopping Center at 3031 Gertsner Memorial Drive. Clay Mote of Venture Commercial worked with Kirsten Early of SRSA Commercial to negotiate the 10-year lease deal on behalf of the retailer, and Seth Citron of Stirling Properties represented the landlord.

January 25, 2017

New York Northeast Office Top Stories

GIC, Paramount Group Buy Wall Street Office Tower for $1B

by Nellie Day January 25, 2017

NEW YORK CITY — A joint venture between GIC and Paramount Group has acquired a 1.6 million-square-foot office tower in New York City for $1 billion. The 47-story tower is located at 60 Wall St. in the Financial District of downtown Manhattan. The property is fully leased. It serves as the U.S. headquarters of Deutsche Bank. GIC, a sovereign wealth fund based in Singapore, has a 95 percent stake in the joint venture, while Paramount Group holds the remaining 5 percent. Paramount managed and owned about 5 percent of the property through its ownership in certain private equity funds prior to the acquisition. The joint venture also received $575 million in financing for the property in relation to the acquisition. “This investment reflects our long-term confidence in downtown Manhattan, which is benefitting from over $30 billion of recent public and private investments in infrastructure and new construction,” says Adam Gallistel, GIC’s regional head of Americas. “We believe 60 Wall St. is one of the top buildings in downtown and is poised to benefit from the ongoing downtown renaissance.” Deutsche Bank announced plans to renovate the office space in late 2016. It purchased the asset from J.P. Morgan & Co. in …

January 25, 2017

Colorado Loans Office Western

Goldman Sachs, Pearlmark Receives $93.5M in Financing to Acquire Denver Office Building

by Nellie Day January 24, 2017

DENVER — A joint venture between Goldman, Sachs & Co. and Pearlmark has received $93.5 million in financing for the acquisition of a 492,799-square-foot office building in Denver. The Class A space is located at 1125 17th St. It occupies an entire city block on the corner of 17th and Lawrence streets where the Central Business District and Lower Downtown (LoDo) converge. The 25-story tower is 85.2 percent leased to JP Morgan Chase & Co. and Halliburton, among others. On-site amenities include a fitness club, juice and smoothie bar, basketball and bocce courts, and underground parking. HFF’s Eric Tupler and Josh Simon secured the four-year, floating-rate loan through Bank of America.

January 24, 2017

Office Oregon Western

Zeller Realty Group Buys Umpqua Bank Plaza in Downtown Portland for $90M

by Nellie Day January 24, 2017

PORTLAND, ORE. — Zeller Realty Group has purchased the 298,176-square-foot Umpqua Bank Plaza in Downtown Portland. The building sold for $90 million, according to Portland Business Journal. The Class A office tower is situated on the western shore of the Willamette River. The property was originally developed in 1974 but underwent renovations in 2015. The space was 97 percent leased at the time of sale. Lana Baldock, Dan Swift and Havilah Coady of Cushman & Wakefield will handle leasing at the property.

January 24, 2017

Loans Multifamily Texas

Dougherty Mortgage Closes $20M Acquisition Loan for Multifamily Property in Fort Worth

by Amy Works January 24, 2017

FORT WORTH, TEXAS — Dougherty Mortgage has closed a $20 million Fannie Mae loan for the acquisition of La Jolla Terrace Apartment Homes, a 340-unit market-rate multifamily property located in Fort Worth. The 12-year loan features one-year of interest-only payments and a 30-year amortization schedule. The loan was arranged through a partnership with Old Capital Lending and Dougherty’s Vienna, Va., office for the borrower, Katz La Jolla Terrace LLC.

January 24, 2017

Loans Multifamily Texas

HFF Secures Financing for 379-Unit Multifamily Property in Houston

by Amy Works January 24, 2017

HOUSTON — HFF has arranged fixed-rate financing for Hanover Rice Village, an apartment community located near Rice University in Houston. Cortney Cole, Scott Galloway and Dustin Selzer of HFF arranged the 10-year loan for the borrower, The Hanover Co. Completed in 2013, the property features 379 residential units and 22,599 square feet of retail space. Coppa Italian Food, Punk’s Simple Southern Food and Cyclone Anaya’s Mexican Kitchen occupy the retail space. On-site amenities include a swimming pool, poolside cabanas, fire pit, grilling areas, open-air loggia with fireplace and television, outdoor banquette seating and dining space, a resident club, pet washing station and controlled-entry parking garage.

January 24, 2017

Industrial Texas

Transwestern Brokers Sale of 53,300 SF Industrial Building in Mansfield, Texas

by Amy Works January 24, 2017

MANSFIELD, TEXAS — Transwestern has negotiated the sale of an industrial property located at 2155 FM 1187 in Mansfield. Robhana Inc. & Waltco of Nevada Inc. sold the 53,300-square-foot property to Crown Building Products LLC/Comarca Grande for an undisclosed price. Jeff Givens with Transwestern represented the seller in the deal.

January 24, 2017

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