Property Type

SMU-Aquatic-center-southern-methodist-university

Beck Breaks Ground on New Aquatics Center at SMU

by Haisten Willis February 29, 2016

DALLAS — The Beck Group has broken ground on a 43,770-square-foot aquatics center at Southern Methodist University in Dallas. Designed by Brinkley Sargent Wiginton Architects, the new facility will be located on SMU’s East Campus next to a DART rail line. The aquatics center will provide facilities for practice, competition and community use. The two-story collegiate competition swimming and diving center will be designed to emulate the Georgian style of the main campus with an Olympic-sized, eight-lane indoor pool; diving platform well with four springboards and a 10-meter tower for training and competition; fixed bleacher seating for 800 spectators; men’s, women’s and visitor locker rooms; meeting space and classrooms; and coaches’ offices. Construction of the aquatics center is scheduled to begin in March and will be complete in August 2017.

February 29, 2016

Hospitality Texas

Civitas, Atlantic Break Ground on Residence Inn by Marriott Dallas/Southwest – Oak Cliff

by Haisten Willis February 29, 2016

DALLAS — Construction has begun on Residence Inn Dallas/Southwest – Oak Cliff. Scheduled to open in mid-2017, the development will be a 103-room all-suite hotel located in the Canyon in Oak Cliff, a mixed-use development near the intersection of I-30 and North Westmoreland Road. The Canyon in Oak Cliff is a 200-acre development that will have 7,500 residential units, 1.2 million square feet of office space and 800,000 square feet of retail. Two multifamily communities totaling 290 units have already completed construction. The four-story hotel will contain a fitness center, pool, lobby market and 600 square feet of meeting space. Amenities include complimentary breakfast, free Wi-Fi and evening social events. Each unit will include a full kitchen with dining bar, bathroom with walk-in shower, sofa and desk. Civitas Capital Group and Atlantic Hotels Group are co-developing the project, and the property will be managed by an affiliate of Atlantic Hotels. Centennial Bank is providing senior financing for the project, and Civitas Capital is providing a mezzanine loan. EJES is the architect on the project, and Shahzay Construction is the general contractor.

February 29, 2016

Industrial Texas

Brennan Investment Group to Redevelop Industrial Site in Metro Austin

by Haisten Willis February 29, 2016

ROUND ROCK, TEXAS — Brennan Investment Group has purchased a 200,411-square-foot vacant industrial facility previously occupied by Sysco Foods. The facility, located in Round Rock, will be redeveloped into a food processing facility. The project involves converting the building into food preparation space, as well as other upgrades. The property is a Class B cold storage and distribution center, but will be converted into a Class A food process facility upon completion. Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops and operates industrial properties in major metropolitan markets throughout the United States.

February 29, 2016

Multifamily Texas

M&M Arranges Sale of 62-Unit Multifamily Property in McAllen

by Haisten Willis February 29, 2016

MCALLEN, TEXAS — Marcus & Millichap has arranged the sale of Crossings Apartments, a 62-unit apartment property located at 1401 Dove Ave. in McAllen. Mike Moffitt Jr. of Marcus & Millichap’s Austin office and William Stover Jr. with the firm’s San Antonio office marketed the property on behalf of the seller, a private investor. Moffitt and Stover also secured the buyer, a partnership. Built in 1979, Crossings Apartments includes 16 one-bedroom units spanning 639 square feet, and 46 two-bedroom units spanning 780 square feet.

February 29, 2016

Loans Retail Texas

BMC Capital Provides $1.4M Acquisition Loan for Retail Property in Arlington

by Haisten Willis February 29, 2016

ARLINGTON, TEXAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a one-year, $1.4 million loan for the purchase of a multi-tenant retail property in Arlington known as Lake June. The interest-only loan was closed at a 72 percent loan-to-value ratio. The loan was arranged through one of BMC Capital’s correspondent lending relationships.

February 29, 2016

District of Columbia Office Southeast

Investcorp Buys Office Building in D.C. for $180M

by John Nelson February 29, 2016

WASHINGTON, D.C. — Investcorp has purchased a 170,813-square-foot office building located at 733 10th St. in Washington, D.C.’s East End office submarket for $180 million. The Class A office building was fully leased at the time of sale. Investcorp purchased the property with its joint venture partner, ScanlanKemperBard. In the last 12 months, Investcorp’s total real estate acquisitions have exceeded $1.5 billion in gross asset value.

February 29, 2016

North Carolina Office Southeast

Dilweg Cos. Acquires Three Office Buildings in Charlotte for $43.9M

by John Nelson February 29, 2016

CHARLOTTE, N.C. — The Dilweg Cos. has purchased three Class A office buildings in Charlotte’s University/Northeast office submarket from two separate sellers. The sales price was undisclosed, but media outlets are reporting that the buildings sold for roughly $43.9 million. The properties, known as Resource Square I, II and V, total 335,593 square feet. Built between 1997 and 2000, the office buildings were 81 percent leased at the time of sale to tenants such as Brooks Equipment Co., FiServ, Huber Engineered Woods and Dassault Systems. Durham-based Dilweg Cos. has selected Charles Jonas and Karah Stumler of Foundry Commercial to lease the assets. Ryan Clutter of HFF represented the seller, a fund managed by DRA Advisors LLC, in the sale of Resource Square V.

February 29, 2016

Florida Multifamily Southeast

Index Investment, Eastwind Development Sell Apartment Community in Palm Beach County for $42M

by John Nelson February 29, 2016

JUPITER, FLA. — Dakota Abacoa Housing LLC, an entity jointly owned by Index Investment Group and Eastwind Development, has sold Dakota at Abacoa, a 190-unit apartment property in Jupiter. An affiliate of West Palm Beach-based Priderock Capital Partners known as PRCP-ABACOA INVESTMENT LLC purchased the community for $42 million. Index Investment and Eastwind Development developed the apartment complex, which opened in June 2014. The property features a pool, whirlpool spa, fitness center and clubhouse. The community includes one-, two- and three-bedroom units with rents starting at $1,370.

February 29, 2016

The Shoppes at Arts District Hyattsville

Maryland Retail Southeast

KLNB Retail Brokers $20.5M Sale of Shopping Center in Metro D.C.

by John Nelson February 29, 2016

HYATTSVILLE, MD. — KLNB Retail has arranged the $20.5 million sale of The Shoppes at Arts District, a 36,000-square-foot shopping center located at 5331 and 5501 Baltimore Ave. in downtown Hyattsville, roughly two miles outside of Washington, D.C. The property was fully leased at the time of sale to tenants such as Busboys & Poets, Yes! Organic Market, Elevation Burger, Essential Day Spa and Big Bad Woof. Andy Stape and Vito Lupo of KLNB Retail Investment Sales represented the seller, ADH Retail LLC, and also procured the buyer, Cedar Realty Trust.

February 29, 2016

Florida Healthcare Retail Southeast

Investment Properties Corp. Arranges $15.8M Sale of Medical Office in Naples

by John Nelson February 29, 2016

NAPLES, FLA. — Investment Properties Corp. has arranged the $15.8 million sale of 59,000 square feet of medical office and retail space in Naples. The property is located at 11121 and 11181 Health Park Blvd. within Collier Health Park. Farley White CHP LLC purchased the property from CHP Erie Investors LLC. David Stevens and Clint Sherwood of Investment Properties arranged the sale.

February 29, 2016

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