AUSTIN, TEXAS — Equus Capital Partners has completed the disposition of Pecan Park, an office property located at 10800 Pecan Park Blvd. in Austin. An affiliate of Mark IV Capital Properties acquired the office building for an undisclosed price. Built in 2009, the four-story, 136,444-square-foot property features a state-of-the-art fitness center and a conference center. Additionally, the building is LEED certified and offers a parking ratio of 4.65 spaces per 1,000 square feet.
CHICAGO — The Boulder Group has arranged the $1 million sale of a single-tenant property net leased to Athletico Physical Therapy in Chicago. The 4,535-square-foot building is located at 8905 S. Commercial Ave. The new Athletico lease is for 10 years and features a 10 percent rental escalation in each of the two five-year renewal option periods. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest real estate investment company. A West Coast-based real estate investment company was the buyer.
CARROLLTON, TEXAS — Marcus & Millichap has arranged the sale of Fox Creek Apartments, a multifamily property located at 1910 S. Josey Lane in Carrollton. Constructed in 1969, the property features 172 units in floor plans ranging from 712 square feet to 1,000 square feet, a swimming pool, on-site laundry facility, open parking and on-site management and maintenance. John Barker and Joshua Ross of Marcus & Millichap represented the undisclosed seller, while Barker also procured the buyer, a California-based private investor. Tim Speck is Marcus & Millichap’s broker of record in Texas. The acquisition price was not released.
GRAPEVINE and BUDA, TEXAS — Harborview Capital Partners, a New York-based commercial real estate finance, equity and advisory firm, has closed $17 million in loans for seniors housing communities in Texas. The first loan was a $10.9 million acquisition loan for a 100-bed skilled nursing facility in the Dallas suburb of Grapevine. The second loan was a $6.1 million construction loan for a 48-bed assisted living facility in the Austin suburb of Buda. Avi Begun, senior originator with Harborview, closed both transactions. The borrowers and names of facilities were not disclosed.
HUMBLE, SPRING AND WALLER, TEXAS — Cypressbrook Co. has arranged three transactions totaling 69,604 square feet of office and warehouse space in Texas. In the first transaction, John Hornbuckle of Cypressbrook Co. represented the landlord, Cypressbrook Huntington Volta LP, in the lease of 56,404 square feet of warehouse distribution space, located at 8575 Volta Drive in Humble’s Kenswick Air Freight submarket, to MIQ Logistics. Barrett Gibson of Colliers International represented the tenant. In the second deal, Coil Tubing Technology Inc. sold a 6,000-square-foot office building located at 22305 Gosling Road in Spring. Southern Texas Section PGA acquired the property for an undisclosed price. Joyce Sterling of Cypressbrook Co. represented the seller, while Randy Wilhelm of NAI Partners represented the buyer. In the third transaction, V.J. Towry leased 7,200 square feet of office and warehouse space, located at 41254 Park 290 Drive in Waller, to Cannon Construction. Denis Ksiazek of Cypressbrook Co. represented the landlord, while Melissa Hegemeyer of Coldwell Banker Properties Unlimited represented the tenant.
PALM BEACH GARDENS, FLA. — NorthMarq Capital has arranged a $75.2 million loan for the refinancing of The Quaye at Palm Beach Gardens, a new 340-unit apartment community in Palm Beach Gardens. Melissa Marcolini Quinn of NorthMarq Capital’s Orlando office arranged the loan through Fannie Mae’s Pre-Stabilization program on behalf of the borrower, The Housing Group, a development firm led by Charles Funk, Jeff Meehan and Rick Lococo.
MIAMI — New York-based developer Helm Equities plans to bring a 21c Museum Hotel to HELM Miami, a mixed-use development in Miami’s Design District. The boutique hotel will feature 135 rooms, an art museum free of charge to the public, restaurant, rooftop pool terrace, bar and lounge and meeting spaces. Deborah Berke Partners will lead the design team for the new hotel. In addition to the hotel, HELM Miami will feature a sculpture garden, green space and 325,000 square feet of retail, dining and workspace for artists, as well as on-site parking. Thomas Citron and Mitchell Friedel of NGKF will lease HELM Miami’s retail component. Paul Faver of JB Real Estate Investment Group LLC advised Helm Equities on the transaction with Louisville, Ky.-based 21c Museum Hotels.
TAMPA, FLA. — Rookis Investment Partners and Gulf Coastal Development have broken ground on Arbor Terrace Senior Living, a 139-unit independent living community in Tampa. Atlanta-based The Arbor Co. will manage the community, which is slated for completion in spring 2018. Tampa-based Chancey Design Architects and Interiors designed the project. The company will also handle interior design. Gulf Coastal Development is a Tampa-based developer of residential properties. Rookis Investment Partners brings together architects, builders and real estate professionals to create residential and commercial developments, mainly in Florida.
MIAMI — Cushman & Wakefield has arranged the $11.4 million sale of Plaza 8, a 53,428-square-foot mixed-use center located in Miami. The two-story property consists of ground-floor retail with a mix of office and retail space on the second floor. Miguel Alcivar, Dominic Montazemi and Michael Mandel of Cushman & Wakefield and Bill Strauss of WCL Properties represented the seller, AD4 Group, in the transaction. The buyer was undisclosed.
WASHINGTON, D.C. — Greysteel has arranged the $6.6 million sale of Brookland Place, an affordable multifamily community located at 617 Hamlin St. N.E. in Washington, D.C. Built in 1950, the 80-unit property is situated near Catholic University and within walking distance of two Metrorail stations in Washington, D.C.’s Brookland neighborhood. Ari Firoozabadi, Kyle Tangney, Rawles Wilcox, Alicia Orkisz and Herbert Schwat of Greysteel represented the seller, Jair Lynch Development Partners. The buyer, Wesley Housing Development Corp., will preserve the community’s affordability using financing from the DHCD and Enterprise Community Partners Inc.
