Property Type

One Jefferson Parkway Apartments in Lake Oswego Sells for $78M

by Nellie Day October 19, 2016

LAKE OSWEGO, ORE. — Security Properties and Pacific Life Insurance Co. have purchased the 347-unit One Jefferson Parkway apartment community in Lake Oswego for $78 million. The property was built in two phases in 1987 and 1990. One Jefferson was 96 percent occupied at the time of sale. Jon Hallgrimson, Eli Hanacek and Josh McDonald of the CBRE Capital Markets Pacific Northwest Institutional Properties team represented both the buyer and the seller, Jackson Square Properties, in this transaction. Nick Santangelo of CBRE’s Debt & Structured Finance organized financing for the acquisition.

October 19, 2016

Multifamily Washington Western

Griffis Residential Acquires 524-Unit Bridges at Northcreek Apartments Near Seattle

by Nellie Day October 19, 2016

BOTHELL, WASH. — Griffis Residential has purchased the 524-unit Bridges at Northcreek Apartments for an undisclosed sum. The community is located at 20225 Bothell Everett Highway in Bothell, about 23 miles north of Downtown Seattle. The property has been renamed Griffis North Creek Bothell. It was built in 1999. Notable employers in the area include Microsoft, Boeing, Lockheed Martin, Panasonic, Phillips Medical and Seattle Genetics.

October 19, 2016

California Retail Western

Cole Haan Debuts New Design Concept at South Coast Plaza in Costa Mesa

by Nellie Day October 19, 2016

COSTA MESA, CALIF. — Cole Haan, an American lifestyle brand and retailer, has opened its newest flagship store at South Coast Plaza in Costa Mesa. South Coast Plaza marks the first West Coast location to open with the company’s new store design concept. Cole Haan LLC, with its global headquarters in Greenland, N.H., and creative center in New York City, is a lifestyle accessories brand and retailer of premium men’s, women’s and children’s footwear, handbags, leather accessories, outerwear and eyewear.

October 19, 2016

Multifamily Texas

Atlantic | Pacific Cos. Acquires Two Properties in Metro Dallas

by Haisten Willis October 19, 2016

ARLINGTON and WESTWORTH VILLAGE, TEXAS — Florida-based Atlantic | Pacific Cos. (A|P) has acquired two Class A multifamily communities in metro Dallas through its Blue Atlantic Partners Fund I. A|P Management, the property leasing and management platform under A|P, will handle property management responsibilities for both properties. The acquisitions include: Franciscan of Arlington, located near the AT&T Stadium and Globe Life Park. The property includes 418 units with a mix of one-, two- and three-bedroom units. Interiors features include stainless steel appliances, walk-in closets and direct access garages in select units. Community features include two pools and a Jacuzzi, coffee bar and fitness center; Village of Hawks Creek, located in Westworth Village. The property consists of 312 units in 12 floor plans, with one-, two- and three-bedroom layouts. The units feature stainless steel appliances and walk-in closets.

October 19, 2016

Mixed-Use Office Retail Texas

PlainsCapital Bank to Open New Office and Retail Location at The Star in Frisco

by Haisten Willis October 19, 2016

FRISCO, TEXAS — PlainsCapital Bank has leased a 5,083-square-foot office facility and a 4,000-square-foot retail space at The Star in Frisco. JLL’s Paul Whitman negotiated both leases on behalf of the tenant. Worthey Wiles of Lincoln Property Co. represented the landlord in the office transaction, and Robert Dozier, also of Lincoln, represented the landlord in the retail transaction. Founded in 1988, PlainsCapital Bank provides commercial banking, commercial lending, commercial real estate lending, treasury management, private banking, residential mortgages and trust and asset management services. The Dallas-based institution operates nine locations in the Dallas area.

October 19, 2016

Hospitality Texas

The Stella Hotel to Anchor Lake Walk Town Center in Bryan

by Haisten Willis October 19, 2016

BRYAN, TEXAS — The Stella, a 176-key hotel slated to open in March 2017, will anchor Lake Walk Town Center in Bryan. Lake Walk is a 180,000 square-foot development under construction near Texas A&M University. The property will feature a restaurant, cocktail bar and coffee shop, as well as an outdoor pool and over 10,000 square feet of meeting and event space. Designed by Dallas-based FAB Studios and Design DMU, The Stella will be operated by Trust Hospitality. Lake Walk includes a five-acre lake, waterfront park, pavilion and observation tower, along with more than two miles of hiking trails.

October 19, 2016

Loans Multifamily Texas

HFF Secures $43M Financing for Apartment Community in Dallas

by Haisten Willis October 19, 2016

DALLAS — HFF has secured $43 million in financing for Alexan Fairmount, a 368-unit, Class A apartment community in Dallas’ Oak Lawn neighborhood. HFF worked on behalf of the borrower, Pure Multi-Family REIT LP, to place the 12-year, fixed-rate loan with Cigna Investments. Loan proceeds were used to acquire the property. Alexan Fairmount is situated one block east of the Dallas North Tollway adjacent to the Maple Avenue restaurant district. Completed in 2015, the five-story property wraps around a pool plaza, with additional amenities including an outdoor kitchen and grilling station, gym, tanning studio, dog park, cyber café, electronic vehicle charging stations and an access-controlled parking garage. Alexan Fairmount’s one- and two-bedroom units include keyless entry, 10-foot ceilings, granite countertops, wine racks and stainless steel appliances. John Brownlee and Michael Cosby led the HFF debt placement team representing the borrower.

October 19, 2016

Industrial Texas

NAI Partners, Colliers Broker Sale of 17.4-Acre Land Site in Houston

by Haisten Willis October 19, 2016

HOUSTON — Carolyn Maxey, Trustee has sold a 17.4-acre undeveloped land tract at 700 Almeda Genoa Road in Houston to McKee Tessa LLC. The site is located 1.5 miles west of Highway 288 in south Houston. Michael Keegan and Clay Pritchett of NAI Partners represented the seller, Carolyn Maxey, Trustee, and Chase Spence of Colliers International represented the buyer, McKee Tessa LLC.

October 19, 2016

Indiana Midwest Mixed-Use Multifamily Retail

Flaherty & Collins Properties Breaks Ground on $32M Mixed-Use Development in Kokomo, Indiana

by Amy Works October 19, 2016

KOKOMO, IND. — Flaherty & Collins Properties has broken ground on 306 Riverfront District, a $32 million mixed-use redevelopment of the former Apperson Brothers car factory and surrounding property into a luxury apartment community. Slated for completion in winter 2018, the property will feature 198 apartment units and 4,800 square feet of retail space. The residential units will feature granite countertops, pendant lights, programmable thermostats, nine-foot ceilings, 42-inch kitchen cabinets and high-efficiency washer and dryer units. The community will feature 6,800 square feet of amenities, including a heated pool with deck, courtyard with grilling stations, fire pit, outdoor kitchen and dining area, decorative lighting, club room with kitchen, fitness club, pet walk, e-lounge and bike storage areas. The Apperson Brothers factory was originally built in 1906 and housed the Apperson Automobile Co. until 1926. The property was then used as an industrial supply warehouse until it closed in 2007.

October 19, 2016

Loans Midwest Office Ohio

Berkadia Secures $92M in Financing for American Greetings Headquarters in Suburban Cleveland

by Amy Works October 19, 2016

WESTLAKE, OHIO — Berkadia has secured $92 million in financing for the new headquarters of American Greetings Corp. in the Cleveland suburb of Westlake. The borrower was Ohio-based H&L Property Co. The 10-year loan, which Bank of America Merrill Lynch provided, features a 4.8 percent fixed interest rate, 65 percent loan-to-value ratio and 25-year amortization schedule. The new headquarters is located on a 13.5-acre property at One American Road in Crocker Park, a 1.2 million-square-foot mixed-use development in Westlake.

October 19, 2016

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