Property Type

Reliant Acquires 52-Bed Skilled Nursing Facility in Northern California for $4.5M

by Nellie Day September 14, 2015

SAN RAFAEL, CALIF. — Reliant Management Group LLC has purchased Northgate Care Center, a 52-bed skilled nursing facility in San Rafael near San Francisco, from Meridian Foresight Management for $4.5 million. The sale price translates to about $87,000 per bed. Reliant, an owner/operator based in Baton Rouge, La., that was already operating the facility, made the acquisition as part of a lease-purchase agreement. A group of Los Angeles investors looking to expand their California skilled nursing portfolio owns Reliant. Meridian is looking to divest the majority of its skilled nursing portfolio. Shep Roylance of JCH Consulting Group brokered the transaction, representing both the buyer and seller.

September 14, 2015

Multifamily Seniors Housing Washington Western

Living Care Lifestyles to Open New Memory Care Community in West Seattle

by Nellie Day September 14, 2015

SEATTLE — Living Care Lifestyles, an operator with 10 communities in Hawaii, California, Oregon, Texas and Washington, plans to open a new memory care community in Seattle in early 2017. Quail Park of West Seattle will feature 45 units, all memory care, in a 20,000-square-foot, three-story facility situated on a half-acre site. According to the operator, the community will be the first memory-care-only facility in West Seattle. Morningside Development Group is developing the property, which John Lape Architecture designed.

September 14, 2015

California Multifamily Western

Construction is Complete on Phase II of Playa Del Oro in Los Angeles

by Nellie Day September 14, 2015

LOS ANGELES — Construction is now complete on Phase II of Playa Del Oro, a 260-unit addition to the existing 405-unit residential and mixed-use complex in Los Angeles. The community is located at the corner of Manchester Avenue and Lincoln Boulevard in the Westchester district. The original structure was built in 2009. The new addition is a concrete, podium-style structure with 235 units above the podium slab, along with 25 units situated at street level, which also contains 5,000 square feet of retail space. Phase II also adds a variety of lifestyle amenities to the complex, including a lounge, fitness on demand, a video game lounge and resident café. It also received a new landscaped courtyard with water features and outdoor living areas. Decron Properties developed the property, which Bernards build and Van Tilburg, Banvard & Soderbergh designed.

September 14, 2015

Retail Texas

M&M Arranges Sale of Retail Property in Metro Houston

by Haisten Willis September 14, 2015

LEAGUE CITY, TEXAS — Marcus & Millichap has arranged the sale of League City Plaza Shopping Center, a 14,974-square-foot retail property located in League City. Gus Lagos and Alex Bouchard of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Lagos and Bouchard also secured the buyer, a private investor. League City Plaza Shopping Center is located at 250 S. FM 270.

September 14, 2015

Multifamily Texas

HFF Secures Financing for Apartment Complex in Dallas

by Haisten Willis September 14, 2015

DALLAS — HFF has secured financing commitments for The Village Apartments, an apartment complex in Dallas totaling 7,000 units. The financing included a single-sponsor securitization and a floating-rate credit facility. Freddie Mac provided all financing commitments, and the loans will be serviced by HFF through its Freddie Mac Program Plus seller/servicer program. HFF worked on behalf of a joint venture between Lincoln Property Co., Invesco Real Estate (acting on behalf of an institutional client) and Crow Holdings. Financing proceeds were used to retire an existing Freddie Mac loan facility and to provide additional capital for future development. The Village is located at the intersection of Caruth Haven and Greenville Avenue, eight miles northeast of downtown Dallas.

September 14, 2015

Loans Multifamily Texas

Dougherty Mortgage Closes $3.7M Acquisition Loan for Bent Tree Apartments in San Angelo

by Haisten Willis September 14, 2015

SAN ANGELO, TEXAS — Dougherty Mortgage LLC has closed a $3.7 million Fannie Mae loan for the acquisition of Bent Tree Apartments, a 112-unit multifamily property located in San Angelo. Dougherty’s Minneapolis office arranged the seven-year term, 30-year amortization loan on behalf of the borrower, SA Bent Tree Apartments LP.

September 14, 2015

Retail Texas

Gault Co., RTG Capital Sell Retail Development in Plano

by Haisten Willis September 14, 2015

PLANO, TEXAS — A partnership controlled by real estate development companies Gault Co. and RTG Capital LLC has sold Willow Bend Crossing to an unnamed Dallas investor. The newly constructed shopping center is located near the southwest corner of the Dallas North Tollway and Park Boulevard in Plano. Shadow-anchored by Costco and The Home Depot, the tenant lineup includes Shell Shack, Jersey Mike’s, Salata, Wok Box, LA Bikini and Torchy’s Tacos. Bryce Gissler and Jason Vitorino of the Marcus & Millichap team The Vitorino Group brokered the sale.

September 14, 2015

Multifamily Texas

SWBC Real Estate Sells Overlook Ranch in Fort Worth

by Haisten Willis September 14, 2015

FORT WORTH, TEXAS — SWBC Real Estate has sold the Overlook Ranch apartment complex. SWBC Real Estate developed the property in a partnership with American National Insurance Co. CAF Capital Partners purchased the property in an off-market transaction for an undisclosed amount. Completed in July 2015, Overlook Ranch is located in the AllianceTexas corridor of north Fort Worth. The Class A complex consists of 318 garden-style units comprising one-, two- and three-bedroom floorplans. Overlook Ranch’s amenities include a Texas ranch-themed clubhouse with a fitness center, resort-style pool, game room and a business center.

September 14, 2015

Alabama Hospitality Southeast

IHG, Chance Partners Break Ground on Hotel Indigo Tuscaloosa Downtown

by John Nelson September 14, 2015

TUSCALOOSA, ALA. — InterContinental Hotels Group (IHG) and Chance Partners have broken ground on Hotel Indigo Tuscaloosa Downtown, a 91-room hotel located at 120 Greensboro Ave. within Riverfront Village, a $60 million mixed-use development. Riverfront Village fronts Black Warrior River in downtown Tuscaloosa. The new hotel will be the first LEED-certified hotel in Alabama and Tuscaloosa’s first riverfront hotel. IHG and Chance Partners expect to open the hotel in winter 2016. Upon completion, the hotel will feature 1,000 square feet of executive meeting space, a fitness center, restaurant, rooftop bar, business center and a 2,500-square-foot outdoor terrace. Interstate Hotels & Resorts will manage the hotel upon completion.

September 14, 2015

Georgia Multifamily Southeast

RADCO Acquires Two Apartment Communities in Metro Atlanta Totaling $53.4M

by John Nelson September 14, 2015

ATLANTA — The RADCO Cos. has purchased two apartment communities in metro Atlanta totaling 554 units for a combined $53.4 million. The properties include Andover at East Cobb in Marietta and Crossing at McDonough in McDonough. Both properties offer apartments with one, two and three bedrooms. Community amenities include resort-style pools, fitness facilities and business centers with Wi-Fi. Each apartment complex is within one mile of I-75 and provides immediate access to major local corporations such as Dobbins Air Reserve Base in Marietta and Midland Industrial Park in McDonough. Atlanta-based RADCO will invest a combined $6.5 million to upgrade both properties through unit upgrades, amenity enhancements and exterior improvements. Andover at East Cobb will be rebranded as Winterset at East Cobb, and Crossing at McDonough will become Crossings at McDonough. RADCO purchased both assets from Wilkinson Real Estate Advisors Inc., and the two communities are now the third and fourth assets that RADCO and Wilkinson have traded together. CBRE brokered both transactions. RADCO’s portfolio now includes 44 multifamily assets with an additional 1,301 units under contract, which should close in September and October.

September 14, 2015

Newer Posts

Older Posts