Property Type

Adam Gordon Holdings, Tavros Development Complete Eight-Unit Condo Building in Manhattan

by Amy Works November 8, 2016

NEW YORK CITY — Adam Gordon Holdings and Tavros Development have completed 560 West 24th, a for-sale condominium building located at 560 W. 24th St. in Manhattan’s West Chelsea neighborhood. Designed by Montroy Andersen DeMarco and Steven Harris Architects, the 11-story, 40,000-square-foot building features six 3,200-square-foot, four-bedroom residences and two duplex penthouses. The residential units range from 3,200 to 6,000 square feet and feature outdoor spaces, including balconies and large terraces in the duplexes. Additionally, the ground floor features a lobby and the main exhibit floor of C24 Gallery, a two-story, 4,500-square-foot art gallery space.

November 8, 2016

New Jersey Northeast Retail

Marcus & Milichap Closes $1.5M Sale of Retail Property in Marlton, New Jersey

by Amy Works November 8, 2016

MARLTON, N.J. — Marcus & Millichap has arranged the sale of a retail property located in Marlton. A private investor acquired the 8,110-square-foot property for an undisclosed price. Michael Lombardi of Marcus & Millichap represented the seller, a private investor, and the buyer in the deal.

November 8, 2016

Arizona Multifamily Western

Broadstone Sixteen 75 Apartments in Phoenix Sells for $60M

by Nellie Day November 8, 2016

PHOENIX — ConAm Asset Management Corp. has acquired Broadstone Sixteen 75, a 225-unit apartment complex in Phoenix, for $60 million. The Class A community is located at 1675 E. Morten Ave. Broadstone Sixteen 75 was built in 2015. Amenities include a two-story fitness center with an indoor bike maintenance shop, private pool and spa with cabanas, outdoor gaming area, and direct-access podium-style parking garage. David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller, Alliance Residential, in this transaction.

November 8, 2016

Multifamily Oregon Western

Brookline Investment Group Acquires Sunfield Lakes Apartments Near Portland

by Nellie Day November 8, 2016

PORTLAND, ORE. — Brookline Investment Group has purchased the 200-unit Sunfield Lakes apartment community in the southwest Portland suburb of Sherwood for an undisclosed sum. The community is located at 16100 S.W. Century Drive. Notable employment hubs in the area include Tualatin/Sherwood industrial hub, Legacy Meridian Park Medical Center, LAM Research Corp. and the Wilsonville submarket. Sunfield Lakes features an outdoor pool, hot tub, 24-hour fitness center, lounge and business center. HFF’s Ira Virden and Carrie Kahn represented the seller, Berkshire Group, in this transaction.

November 8, 2016

Office Oregon Western

CBRE Global Investors Purchases the Park Square Office Campus in Portland

by Nellie Day November 8, 2016

PORTLAND, ORE. — CBRE Global Investors has purchased the Park Square Campus, a 295,767-square-foot office campus in downtown Portland, for an undisclosed sum. The Class A campus is located at 100 S.W. Market St. The property is 97.5 percent leased to investment-grade tenants with a weighted average lease term of 8.7 years. Park Square contains an 8,000-square-foot great room connecting the two buildings, a patio, onsite restaurant, updated lobby and secure bicycle parking with lockers, as well as 24-hour security and card key access. CBRE purchased the asset on behalf of a European separate account client.

November 8, 2016

Arizona Multifamily Western

FW Group Buys Dorinda Vista in Tucson for $27.9M

by Nellie Day November 8, 2016

TUCSON, ARIZ. — FW Group has purchased the 254-unit Dorinda Vista apartments in Tucson for $27.9 million. The community is located at 7596 N. Mona Lisa Road. Dorinda Vista was built in 1998. Major nearby attractions include Omni Tucson National Resort and the Foothills Mall. The top employers in the area include the Omni resort, the Tucson Mall and Northwest Hospital. Art and Clint Wadlund of Berkadia represented the seller, Prime Residential, in this transaction.

November 8, 2016

California Multifamily Western

California Landmark Group Breaks Ground on $30M D1 Apartment Development in LA

by Nellie Day November 8, 2016

LOS ANGELES — California Landmark Group has broken ground on D1, a 68-unit luxury apartment complex in the Los Angeles submarket of Marina del Rey. The $30 million community is located at 4210 Del Rey Ave. within the Marina Arts District. The development will feature a mix of open concept studios, as well as one-, two- and three-bedroom floor plans, ranging in size from 740 square feet to 1,640 square feet. Common area amenities will include a gym, business center, meeting areas, outdoor lounge spaces, and a 3,000-square-foot rooftop pool deck with unobstructed city and ocean views. D1 will be completed in fall 2018. PK Architecture designed the project.

November 8, 2016

Loans Office Texas

HFF Secures $120M Refinancing for 1.35 MSF Cityplace Tower in Dallas

by Amy Works November 8, 2016

DALLAS — HFF has secured the $120 million refinancing for Cityplace Tower, a 1.35 million-square-foot office tower in Uptown Dallas. The borrowers were Parmenter and Angelo, Gordon & Co. Starwood Property Trust provided the loan, which is interest-only for the full term. Proceeds of the loan were used to refinance the existing debt and provide capital for future tenant improvements, leasing commissions and capital expenditures. Situated along North Haskell Avenue, the 42-story Cityplace Tower was built in 1988 and underwent a $15 million renovation and rebranding last year. The property features eight levels of subterranean parking, 51,434 square feet of conference facilities, a 300-seat amphitheater, a 34,000-square-foot spa and fitness center, six patio sunrooms, a carwash, concierge service, convenience store and cafeteria. Ed Coco, John Brownlee, Jim Curtain and Matt Casey of HFF arranged the loan.

November 8, 2016

Multifamily Office Texas

LMI Capital Closes Five Loans in Houston, Dallas Exceeding $36M

by Amy Works November 8, 2016

HOUSTON AND DALLAS — LMI Capital has closed five financing transactions for six assets in the Houston and Dallas exceeding $36 million. In the first transaction, Jamie Mullin of LMI Capital procured a $15 million, floating-rate loan for a 435-unit multifamily asset in southwest Houston. The terms include a two-year interest-only period, open prepayment structure and significant rehab component, which will be used to improve the buildings’ exteriors and complete select upgrades for the units’ interiors. The name of the borrower and the property were not released. In the second deal, Kurt Dennis of LMI Capital originated a 25-year bank loan on an 11,000-square-foot office building in northwest Dallas. The first mortgage equated to 73 percent of the purchase price and included a step-down prepayment structure and low closing costs. The name of the borrower and the amount of the loan were not disclosed. Mullin also arranged financing for four assets in southwest Houston. The transactions included: – A 10-year, $4 million agency loan for a 120-unit multifamily asset. Terms of the loan included a fixed 4.1 percent interest rate, two years of interest-only payments and cash out proceeds to make ongoing improvements to the property and fund future acquisitions. – …

November 8, 2016

Multifamily Texas

Presidium Group Acquires Lake Worth Apartments in Fort Worth

by Amy Works November 8, 2016

FORT WORTH, TEXAS — Presidium Group has purchased the Vistas at Lake Worth Apartments, a multifamily property located in Fort Worth, for an undisclosed price and renamed the property The Ascent. Built in 1970, the property features 265 units in a variety of floor plans, averaging 935 square feet. On-site amenities include a clubhouse, two swimming pools, a fitness center, media room, business center, controlled gate access, mature landscaping and views of Lake Worth. The buyer plans to upgrade and renovate both the exterior and interiors of the property. The name of the seller was not released.

November 8, 2016

Newer Posts

Older Posts