Property Type

Space-Station-Self-Storage-League-City-Texas

Bellomy Arranges Sale of Space Station Self Storage in Metro Houston

by Haisten Willis September 1, 2016

LEAGUE CITY, TEXAS — Bellomy & Co. has arranged the sale of Space Station Self Storage in League City, 20 miles southeast of Houston. The Class A facility consists of 674 units and 77,980 square feet on 5.4 acres. The property, built in 2009, was 85 percent occupied at the time of closing. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. marketed the property on behalf of the Houston-based seller. The trio also procured the buyer, Public Storage, which is the largest self-storage operator in the United States and Europe with more than 2,000 facilities.

September 1, 2016

Colliers Brokers Sale of Land for $25M Office/Industrial Facility in Metro Houston

by Haisten Willis September 1, 2016

TOMBALL, TEXAS — Colliers International has brokered the sale of a 5.5-acre tract of land on Spell Road just west of Hufsmith Kohrville Road in Tomball. The $25 million project, the second for the Tomball Business and Technology Park, will consist of a 42,700-square-foot laboratory and office facility expected to hold 75 employees. Tom Condon Jr. of The Woodlands office of Colliers International represented the seller, Tomball Economic Development Corp. Gray Gilbert of CBRE represented the buyer, GE Betz Inc. Jane Matthews of Stewart Title Tomball coordinated the closing.

September 1, 2016

Office Texas

CBRE Negotiates Lease Renewal for Cosco Container Lines Americas in Houston

by Haisten Willis September 1, 2016

HOUSTON — CBRE has negotiated a 38,561-square-foot lease renewal for container operator Cosco Container Lines Americas Inc. The office facility is located at 15600 John F Kennedy Blvd. in Houston. Cosco will renovate the space to accommodate new hires. CBRE’s Kevin Saxe and Jerrod McQuain negotiated the lease on behalf of Cosco. Wade Bowlin of PMRG represented the landlord, 15600 JFK Houston Partners LLC.

September 1, 2016

Industrial Texas

Lee & Associates Arranges 28,891 SF Industrial Lease Renewal in Dallas

by Haisten Willis September 1, 2016

DALLAS — Lee & Associates has completed a lease renewal for a 28,891-square-foot industrial space located at 11625 Columbia Center Drive in Dallas. Nathan Denton of Lee & Associates Dallas/Fort Worth represented the tenant, Vogue Tyre, a provider of custom tires and wheels, and Mitch Pruitt internally represented the landlord, Prologis.

September 1, 2016

Florida Mississippi Multifamily Seniors Housing Southeast

KeyBank Provides $249M in Financing for 22-Property Skilled Nursing Portfolio in the Southeast

by John Nelson September 1, 2016

CLEVELAND — KeyBank Real Estate Capital, a subsidiary of Cleveland-based KeyCorp, has provided $249 million in FHA financing to Formation Capital, a private investment management firm focused on seniors housing. The financing will be used for a 22-property skilled nursing portfolio. Seventeen of the facilities are located in Florida, and the remaining five are located in Mississippi. The properties have a combined total of 2,682 beds. John Randolph and Paul Di Vito of KeyBank’s Healthcare Mortgage Group arranged the financing through FHA’s 232/223(f) mortgage insurance program. Proceeds of the loan were used to pay down an existing bridge loan, which funded the acquisition of 66 facilities.

September 1, 2016

District of Columbia Office Southeast

Harbor Group International Sells Office Building in D.C. for $140.5M

by John Nelson September 1, 2016

WASHINGTON, D.C. — Harbor Group International (HGI) has sold a 297,238-square-foot office building located at 820 First St. in Washington, D.C., for $140.5 million. The building’s anchor tenant is the regional headquarters of CNN. HGI, along with investment partners Capstone Equities and Image Capital, purchased the office building in October 2012 for $107 million. Built in 1990, the 11-story building in D.C.’s Capitol Hill North submarket was 96 percent leased at the time of sale to tenants such as Accenture and various U.S. government agencies.

September 1, 2016

Georgia Multifamily Southeast

Greystone Provides $62M Freddie Mac Loan for Apartment Complex in Metro Atlanta

by John Nelson September 1, 2016

MARIETTA, GA. — Greystone has provided a $62 million permanent loan for Watermark at East Cobb, a 510-unit multifamily community in Marietta, a northwest suburb of Atlanta. The property features two resort-style swimming pools, tennis courts, an athletic center, playground, volleyball courts, outdoor kitchen, nature trail, fishing lake and a dog park. Mike Galla and David Collie of iCap Realty Partners arranged the seven-year, floating-rate loan through Freddie Mac with two years of interest-only payments followed by a 30-year amortization schedule. Keith Hires and Greg Krafcik of Greystone originated the loan on behalf of the borrower, Cortland Partners.

September 1, 2016

Loans Mixed-Use Southeast Virginia

New York Life Originates $57M Loan for Town Center Project in Virginia Beach

by John Nelson September 1, 2016

VIRGINIA BEACH, VA. — New York Life Real Estate Investors has provided a $57 million loan for Encore Apartments and the 4525 Main Street office building located within the Town Center development in Virginia Beach. The mixed-use property includes 286 apartments units, 212,000 square feet of office space and 26,000 square feet of ground-level retail space. Geoff McVeigh of Berkadia arranged the five-year, fixed-rate loan on behalf of the borrower, Armada Hoffler Properties, a publicly traded REIT and the developer of Town Center.

September 1, 2016

Georgia Hospitality Southeast

Carey Watermark Investors 2 Acquires Renaissance Atlanta Midtown Hotel

by John Nelson September 1, 2016

ATLANTA — Carey Watermark Investors 2 Inc. (CWI 2), a hospitality-focused REIT, has purchased the Renaissance Atlanta Midtown Hotel, a 304-room, 21-story hotel located at the northwest corner of West Peachtree Street and Abercrombie Place in Atlanta’s Midtown district. The seller and sales price were not disclosed. Davidson Hotels & Resorts, an Atlanta-based hotel management company that operates 38 hotels throughout the United States, will manage the hotel. Built in 2009 and converted to Marriott International’s Renaissance brand in 2011, the hotel has undergone more than $3 million of capital improvements between 2011 and 2015. The hotel’s restaurant, Community Smith, reopened in January 2015. Other amenities include 8,600 square feet of meeting space, a rooftop bar and lounge, 24-hour spa and fitness center and a 24-hour business center. Affiliates of W. P. Carey Inc. and Watermark Capital Partners advise CWI 2 and manage its overall portfolio.

September 1, 2016

Illinois Midwest Retail

Inland Sells Mariano’s Fresh Market in Metro Chicago for $36.4M

by Christina Cannon September 1, 2016

VERNON HILLS, ILL. — Inland Private Capital Corp. has sold a Mariano’s Fresh Market in Vernon Hills, approximately 35 miles northwest of Chicago, for $36.4 million. The 71,248-square-foot grocery store, which is located on seven acres at 1820 N. Milwaukee Ave., was built in 2011. Inland completed the sale on behalf of one of its 1031 exchange investment programs. The buyer in the deal was undisclosed.

September 1, 2016

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