TEXAS and OKLAHOMA — Greystone Real Estate Advisors has closed the $210 million sale of an eight-property seniors housing portfolio in Texas and Oklahoma. Harrison Street Real Estate Capital and Bridgewood Property Co. sold the properties to Cardinal Bay, a private company based in Texas. Greystone represented the seller in the transaction. The properties are: • Village on the Park, Oklahoma City, 188 units • Carriage Inn, Bryan, Texas, 90 units • Carriage Inn, Conroe, Texas, 91 units • Village on the Park, Friendswood, Texas, 158 units • Village on the Park, Houston, 183 units • Carriage Inn, Huntsville, Texas, 81 units • Carriage Inn, Katy, Texas, 146 units • Carriage Inn, Lake Jackson, Texas, 102 units
EDMOND, OKLA. — Harborview Capital Partners has arranged a $4.3 million bank loan for the purchase of a 98-unit multifamily property located in Edmond, Okla. The loan features a one month Libor-based interest rate. This is the most recent of several deals Harborview has closed on behalf of the Missouri-based lender, and the second loan Harborview has closed for the California-based property owner this year. Jeff Fuchs and Andrew Eisen of Harborview’s New York headquarters negotiated the loan. The loan includes specified funds for exterior and interior capital upgrades to the property.
MIDLAND and ODESSA, TEXAS — Dynamic will be developing sites for Dickey’s BBQ in Midland and Odessa. The Odessa location will be a 2,000-square-foot restaurant with a drive-thru, and the Midland location will be a 3,700-square-foot restaurant with a drive-thru and the potential for further expansion to include a second tenant. Dynamic’s Dan Porter worked with Dickey’s BBQ in the development of the restaurant plans.
HOUSTON — Morgan has opened Pearl CityCentre and Pearl Residences at CityCentre, two luxury apartment developments in Houston. Located across the street from one another at 10401 and 10402 Town & Country Way, the two communities are near shopping destinations, employment in the energy corridor and Westchase District, and highly rated local schools. Pearl CityCentre contains 311 one- and two-bedroom units in a seven-story concrete and steel building. Units range from 650 to 1,500 square feet, with an average size of 950 square feet. Pearl Residences at CityCentre has 148 one-, two- and three-bedroom units in an eight-story concrete and steel building. Designed for residents seeking more square footage, the units in the community range from 750-2,500 square feet, with an average size of over 1,500 square feet. Each property features a cyber café, business center, athletic club and swimming pool. All residents have access to a sky lounge and shuttle service to nearby CityCentre.
WACO, TEXAS — Channel Control Merchants (CCM) has selected Greater Waco for the site of its first Texas distribution operation. The company has acquired a 200,000-square-foot building located at 401 Precision Drive, and will invest $1.1 million in capital improvements and hire 116 employees. CCM plans to have the facility updated, fully staffed and operational by September. The company chose Waco as its first Texas distribution location due to the city’s central location within the state. The company will also open a 38,000-square-foot retail location at 300 North Valley Mills Drive under its Dirt Cheap brand, with plans for multiple retail locations throughout Texas. Dirt Cheap is the largest retailer of customer returns and marked out-of-stock merchandise in the United States. The company, established in Hattiesburg, Miss. in 1941, has expanded across seven states in the last five years. CCM is organized into two divisions: a global wholesale business and 67 retail locations. The retail stores operate under three banners: Dirt Cheap, Treasure Hunt and Dirt Cheap Building Supplies.
NEW YORK CITY — Thor Equities is developing a waterfront office project located in Brooklyn’s Red Hook district. Designed by Foster + Partners, the 7.7-acre property will include two heavy timber frame buildings totaling more than 600,000 square feet of creative office space and 23,000 square feet of retail and restaurant space. Additionally, the design will feature 100,000-square-foot open floor plates. Surrounded by water on three sides, the campus will feature a public waterfront esplanade designed by SCAPE/Landscape Architecture and a central open courtyard and rooftop space for future tenants. The project is being built to fit the needs of a TAMI (technology, advertising, media and information) tenant or other appropriate user of the space.
JERSEY CITY, N.J. — Manhattan Building Co. has opened Cast Iron Lofts II, a 27-story luxury residential building in Jersey City. Located at 300 Coles St., the industrial-inspired building features 232 apartments in a mix of one-, two- and three-bedroom layouts, indoor and outdoor amenities and 20,000 square feet of street-level retail space. The building is the second property to open within the Cast Iron Lofts collection, which is spearheading the creation of SoHo West (South of Hoboken, N.J., West of New York City), a new neighborhood of oversized residences in highly-amenitized buildings on the border of Jersey City and Hoboken. Construction is well underway on the next two-tower building, which will include 337 residences. When complete, the SoHo West development will comprise 1,360 residences in multiple buildings and street-level retail space.
AMESBURY, MASS., AND LEBANON, N.H. — Fantini & Gorga has arranged $5.3 million in separate first mortgage financings for a freestanding Family Dollar in Amesbury and a newly constructed Tractor Supply Co. in Lebanon. Originally constructed in 1994 as a CVS/pharmacy, the Family Dollar location contains 8,536 square feet of gross leasable area. The property was renovated in 2014 and is now fully occupied by Family Dollar. Constructed in 2015, the build-to-suit Tractor Supply Co. store features 19,097 square feet of gross leasable area. John Gorga and Chris Miller of Fantini & Gorga represented the borrower, a long-term client, and arranged both financings with a regional financial institution.
FAIRFIELD, CONN. — Fischer Real Estate Inc. has negotiated the sale of a commercial building located at 2060 Black Rock Turnpike in Fairfield. An undisclosed investor purchased the property from TPSJ LLC for $1.4 million. The 4,440-square-foot property is fully occupied by retail and medical office tenants. Alan Fischer of Fischer Real Estate represented both parties in the off-market transaction.
MANCHESTER TOWNSHIP, PA. — Bennett Williams Commercial has arranged the sale of a 2.64-acre land parcel located at 1400 Toronita St. in Manchester Township. Clearview Associates purchased the property from Round the Clock Diner & Coffee Shop Inc. for $1 million. Keith Kahlbaugh of Bennett Williams represented the buyer in the deal.