Property Type

Meridian Capital Secures $19.6M Acquisition Loan for Pear Tree Center in Ukiah

by Nellie Day July 11, 2016

UKIAH, CALIF. — Meridian Capital Group has secured $19.6 million in acquisition financing for the purchase and repositioning of Pear Tree Center in Ukiah. The three-year loan, provided by a debt fund, features full-term, interest-only payments and two one-year extension options. Seth Grossman and Sarah Kuebler of Meridian Capital arranged the financing for the undisclosed borrower. Located at 504 E. Perkins St., the 199,565-square-foot Pear Tree Center is occupied by JCPenney, Ross Dress For Less, Big 5 Sporting Goods and Lucky Supermarket.

July 11, 2016

California Loans Retail Western

IPA Capital Markets Arranges $12M Loan for Auto Shopping Center in San Jose

by Nellie Day July 11, 2016

SAN JOSE, CALIF. — Institutional Property Advisors Capital Markets has arranged $12 million in financing for a 13-acre auto shopping center located at 740-750 Capital Expressway in San Jose. Anita Paryani and Jake Roberts of IPA Capital Markets arranged the debt placement. The loan features a 50 percent loan-to-value ratio and three years with no prepayment penalty.

July 11, 2016

Loans Multifamily Seniors Housing Utah Western

Love Funding Secures $6.6M Bridge Loan for Construction of Assisted Living Community in Utah

by Nellie Day July 11, 2016

ODGEN, UTAH — Love Funding, a lender based in Washington, D.C., has arranged a $6.6 million bridge loan for the construction of Shadow Valley Assisted Living and Memory Care, a 62-bed community in Ogden, approximately 35 miles north of Salt Lake City. Local developer Giza Development is building the community. The financing will allow Giza to start construction more quickly than a HUD-insured loan. Giza plans to convert the financing to a permanent HUD loan after three years. James Vanar of Love Funding’s Los Angeles office arranged the loan. Midland States Bank, which is Love Funding’s parent company, will provide the capital.

July 11, 2016

California Retail Western

Vestar Retained to Manage 487,807 SF Shopping Center in San Diego

by Nellie Day July 11, 2016

SAN DIEGO — Stockbridge Capital Group has selected Vestar as the property management firm for Mira Mesa Marketplace, a regional shopping center in San Diego. The Home Depot, Barnes & Noble, Old Navy, Ross Dress For Less and CVS/pharmacy occupy the 487,807-square-foot retail center. Vestar is currently managing nearly 2 million square feet of retail space in the San Diego area, including Clairemont Town Center, Marketplace at Windingwalk, Penasquitos Village and Rancho San Diego Towne Center.

July 11, 2016

Multifamily Texas

SVN Arranges Sale of Apartment Community in Irving

by Haisten Willis July 11, 2016

IRVING, TEXAS — SVN has arranged the sale of the Treehouse Apartments in Irving, a 160-unit garden-style community located at 3203 W. Walnut Hill Lane in Irving. Jon Krebbs of SVN brokered the sale. The unnamed new owner plans to upgrade the property to compete with other complexes in the immediate area.

July 11, 2016

Industrial Texas

Gault Co. Sells Industrial Building in Metro Dallas

by Haisten Willis July 11, 2016

LAS COLINAS, TEXAS — Real estate developer and investor Roger Gault of Gault Co. has sold a single-tenant industrial building located at 1939 Hereford Drive in Las Colinas to an undisclosed buyer. The 25,000-square-foot building sits on 1.5 acres in the Las Colinas Walnut Hill Distribution Center. Ryan Boozer with Stream Realty was the broker for the sale. The building was purchased in 2007 and was occupied until recently by Quantum Clean. When Quantum moved out, the building was put up for lease or sale.

July 11, 2016

Multifamily Texas

FourPoint Multifamily Investments Brokers Apartment Sale in Houston

by Haisten Willis July 11, 2016

HOUSTON — FourPoint Multifamily Investments has brokered the sale of Villas de Palmas, a 659-unit apartment community located in Houston’s Sharpstown District. Sharpstown has seen significant revitalization and positive growth over the last 15 years. Kevin Dufour of FourPoint brokered the sale between seller, Thrive/ Jevan Capital/Comunidad Realty Partners, and buyer, Nimes Capital. Dufour procured both the buyer and seller. At the time of sale, the seller had already completed partial upgrades to the exterior/commons areas of the property and interior upgrades to approximately 20 percent of the units. The buyer plans to complete the remainder of the renovations throughout the property and continue to enhance the asset, which was built in the late 1970s.

July 11, 2016

Retail Texas

M&M Arranges Sale of 15,535 SF Retail Property in McKinney

by Haisten Willis July 11, 2016

MCKINNEY, TEXAS — Marcus & Millichap has arranged the sale of McKinney Square, a 15,535-square-foot retail property located in McKinney. Philip Levy and Chris Gainey of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Levy and Gainey also secured the buyer, a private investor. McKinney Square is a multi-tenant retail strip with tenants including Swanky Boutique, Patina Green Home, Lanio’s Candies, SIP Ventures, InterimLender.com and Release 2 Systems. The two-story building was originally constructed in 1900 and was renovated in 2005.

July 11, 2016

Industrial Texas

Lee & Associates Negotiates 109,756 SF Industrial Lease Renewal in Houston

by Haisten Willis July 11, 2016

HOUSTON — Lee & Associates has negotiated a lease renewal for a 109,756-square-foot industrial space located at 3550 Brittmoore Road in Houston. Tom Walrich of Lee & Associates’ Dallas/Fort Worth office represented the tenant, Dealer Tire, in the transaction. Jude Filippone of Transwestern represented the landlord, Claymoore Northwest Inc.

July 11, 2016

New Jersey Northeast Office

American Realty Advisors Acquires Office Building in Jersey City for $101M

by Amy Works July 11, 2016

JERSEY CITY, N.J. — American Realty Advisors has acquired 30 Montgomery Street, a 16-story boutique office tower located in the Hudson Waterfront submarket of Jersey City. Rubenstein Partners and Onyx Equities sold the 315,385-square-foot building for $101 million. At the time of sale, the building was 71.6 percent leased to 46 tenants. David Bernhaut, Andrew Merin and Gary Gabriel of Cushman & Wakefield represented the seller.

July 11, 2016

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