Property Type

Brookwood Terrace Apartments Murfreesboro Tennessee

Walker & Dunlop Originates $4.7M HUD Loan for Apartment Community in Tennessee

by John Nelson October 12, 2015

MURFREESBORO, TENN. — Walker & Dunlop has originated a $4.7 million loan for Brookwood Terrace Apartments located at 2743 S. Rutherford Blvd. in Murfreesboro. Built in 2009, the apartment community features one-, two- and three-bedroom apartment residences with fully equipped kitchens, washer and dryer units and ceramic tiled bathrooms and foyer. Common area amenities include free Wi-Fi, a clubhouse and a business center. All of the residential units are at 60 percent or less of the Area Median Income. David Strange and Keith Melton of Walker & Dunlop structured the loan as a 223(a)(7) HUD refinance of an existing 221(d)(4) HUD loan. The 40-year, fully amortizing loan has a fixed interest rate.

October 12, 2015

Market Reports Maryland Retail Southeast Southeast Market Reports

Baltimore City’s Retail Market Remains Hot, But Watch Out for the Suburbs

by John Nelson October 12, 2015

An apartment building boom is encouraging a consistent march of new residents to select sections of Baltimore City, and the construction of new retail venues to support this emerging audience has followed in lockstep. The last several years has seen the opening of stylish shopping centers featuring national anchor tenants such as Harris Teeter and Target, including The Shops at Canton Crossing, a 330,000-square-foot retail shopping center situated within the city’s east side, as well as McHenry Row, located in the Locust Point section of the city (next to Under Armour’s headquarters). Other notable retail developments underway in Baltimore City are the capital improvement and re-invention program at Harborplace; The Stadium Square, a $250 million mixed-use project situated near M&T Bank Stadium; the $25 million facelift being given to Lexington Market, a collection of 100 food vendors; the ongoing retail build-out of Harbor East (the recognized “place to be and be seen” spot of the city); and the initiation of construction on Harbor Point, the site of the new Exelon Corp. headquarters (the company merging with Constellation Energy). Baltimore County is Booming Owings Mills, Towson and White Marsh are the sites of four significant projects, several of which have been …

October 12, 2015

Office Texas

Harwood International to Develop New Office Tower in Dallas

by Haisten Willis October 9, 2015

DALLAS —Harwood International has announced it will develop a new office tower known as 2850. Designed by Dallas-based HDF, the Class A office tower features 22 floors totaling 228,000 square feet. It will be the ninth development in the master-planned district of Harwood. The ground level of the building will include over 12,000 square feet of retail and restaurant space with adjacent gardens and outdoor seating. The gardens are continued on the ninth level with 20,000 square feet of green roof terraces. The building is topped off with 11,000 square feet of office space and two roof gardens. The 18-block district of Harwood has building rights to over 12 million square feet of condominium, office, retail, and multifamily developments.

October 9, 2015

Loans Retail Texas

Q10 KDH Arranges Financing for The Centre at Greatwood in Houston

by Haisten Willis October 9, 2015

HOUSTON — Q10 Kinghorn, Driver, Hough & Co.’s Emily Zarcaro and Matt Franke have secured permanent financing for The Centre at Greatwood, a fully occupied, single-story retail center in Sugar Land. Q10 KDH arranged the loan through Symetra on behalf of the undisclosed borrower.

October 9, 2015

Retail Texas

M&M Arranges Sale of 7,843 SF Retail Property in Metro Dallas

by Haisten Willis October 9, 2015

BEDFORD, TEXAS — Marcus & Millichap has arranged the sale of Harwood Oaks, a 7,843-square-foot retail property located in Bedford. Bill G. Jordan of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Jordan also secured the buyer, a partnership. Harwood Oaks is located at 3225 Harwood Road. The 7,843-square-foot strip center is located just off of Highway 121. Harwood Oaks was built in 1985 and all tenants hold triple-net leases. Tenants include Mid-Cities Florist, Kumon, Subway and World Finance.

October 9, 2015

Industrial Texas

NAI Partners Arranges Sale of Industrial Building in Houston

by Haisten Willis October 9, 2015

HOUSTON — NAI Partners represented A2Z Investment Properties LLC in the sale of a 7,100-square-foot freestanding industrial building located at 10405 Rockley Road in Houston. Darren O’Conor of NAI Partners represented the seller, A2Z Investment Properties, during negotiations, while Jamie De Leon of South Texas Properties represented the buyer, Chem SPA USA LLC.

October 9, 2015

Midwest Office Ohio

Marcus & Millichap Arranges $4.4M Sale of Medical Office Building in Columbus Suburb

by Christina Cannon October 9, 2015

PICKERINGTON, OHIO — Marcus & Millichap has arranged the sale of a 12,539-square-foot medical office building for $4.4 million in Pickerington, a Columbus suburb. Scott Niedergang and Gino Lollio of Marcus & Millichap represented the seller, Stage Equity Partners LLC. Charlie Hampton III of Marcus and Millichap represented the undisclosed buyer in the transaction. Pediatric Associates is the tenant.

October 9, 2015

Illinois Midwest Office

Bradford Allen, Essex Broker $4.2M Sale of 27,000 SF Office Building in Chicago

by Christina Cannon October 9, 2015

CHICAGO — Bradford Allen Realty Services and Essex Realty Group have brokered the sale of a 27,000-square-foot office building located at 925 W. Chicago Ave. for $4.2 million. Laurence Elbaum of Bradford Allen and Jason Fishleder of Essex represented the seller, Gamla Cedron Group. The buyer was undisclosed. The three-story building was 66 percent occupied at the time of sale. Tenants include The Lab Dance Studio and Proline Golf. The loft building was originally built in 1905 and was renovated in 2013.

October 9, 2015

Iowa Loans Midwest Multifamily

NorthMarq Capital Secures $1.8M Refinancing for Three Multifamily Properties in Iowa

by Christina Cannon October 9, 2015

CEDAR RAPIDS AND MERION, IOWA — NorthMarq Capital has secured a $1.8 million refinance loan of three multifamily properties located in Iowa. The three properties include a combined 64 units. Westcove Apartments, Kimberly Square and Residence on 11th are the three communities that were refinanced. The transaction was structured with a fully amortizing 20-year term. All other details of the transaction were undisclosed.

October 9, 2015

Industrial Market Reports Multifamily Office Retail Texas Texas Market Reports

Port, Diverse Economy Drive Growth in Corpus Christi Real Estate Market

by Haisten Willis October 9, 2015

When people come to Corpus Christi, many of them expect to find a community that has been devastated by the downturn caused by the oversupply of cheap oil and gas. They expect a community with rising unemployment and vacant buildings. Based on the past, they would be correct. However, Corpus Christi and the Coastal Bend have been experiencing a major transformation of their economy, which is now much more diverse. This is partly because of the leadership, hard work and vision of its people, and partly because of good luck caused by the infrastructure that had been put in place by the Port of Corpus Christi. This infrastructure was at the right place at the right time. The Port of Corpus Christi has always been a driving force and major contributor to the economy of Corpus Christi. The port’s leaders knew that if they didn’t make some major changes, they would not remain competitive. The Port of Corpus Christi is the fifth largest port in the U.S. in total tonnage. However, because of the depth of the port channel and the height of the harbor bridge which crosses over the port, the newer, larger ships could not enter the port. …

October 9, 2015

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