Property Type

Rockpoint, Ivanhoe Cambridge to Recapitalize Mary Brickell Village in Miami

by John Nelson September 9, 2015

MIAMI — Rockpoint Group LLC has partnered with Ivanhoé Cambridge to recapitalize Mary Brickell Village, a retail and lifestyle center located at 901 S. Miami Ave. near Miami’s financial district. Ivanhoé Cambridge will continue to hold a minority interest, and Rockpoint will become the majority owner. Terms of the transaction were not disclosed. Originally developed in 2008, the 195,988-square-foot property is occupied by more than 50 stores and restaurants, including Publix, LA Fitness, P.F. Changs China Bistro, Fado Irish Pub, Oceanaire Seafood Room, Rosa Mexicana, Blue Martini and Brother Jimmys. Mary Brickell Village has immediate access to the Miami Metrorail at Brickell Station and the Metromover.

September 9, 2015

Loans Retail Southeast Virginia

KeyBank Arranges $20.4M CMBS Loan for Shopping Center in Virginia

by John Nelson September 9, 2015

YORKTOWN, VA. — KeyBank Real Estate Capital has secured a $20.4 million CMBS first mortgage for Village Square at Kiln Creek, a 267,021-square-foot shopping center located in Yorktown. The shopping center is anchored by Kroger. Scott Bois of KeyBank secured the non-recourse loan on behalf of the unnamed borrower.

September 9, 2015

Multifamily Oregon Western

Jackson Square Properties Buys Terrene at the Grove Near Portland for $59.5M

by Nellie Day September 9, 2015

PORTLAND, ORE. — Jackson Square Properties has purchased the 288-unit Terrene at the Grove apartment complex in the Portland submarket of Wilsonville for $59.5 million. The community is located at 8890 SW Ash Meadows Circle. Terrene at the Grove was built in 2013. Jackson Square also recently acquired the Addison, a 147-unit apartment community in Vancouver. HFF’s Ira Virden and Kerry Hughes represented the seller, Holland Partner Group and its finance partner.

September 9, 2015

Office Washington Western

PMF Investments Buys Homeport Building and Marina in Kirkland for $28M

by Nellie Day September 9, 2015

KIRKLAND, WASH. — PMF Investments has purchased the Homeport Building and Marina in Kirkland for $28 million. The office property is located at 135 Lake St. The Homeport Building is one of only a few office marina investments existing on Lake Washington, according to Kidder Mathews, which brokered the sale. The firm’s Jason Rosauer, Andy Miller and Rob Anderson represented the seller, Westwater Development.

September 9, 2015

Multifamily Oregon Seniors Housing Western

Cascade Manor CCRC in Oregon Undergoing $10M Expansion

by Nellie Day September 9, 2015

EUGENE, ORE. — Cascade Manor, a continuing care retirement community (CCRC) in Eugene, is currently in progress on a $10 million expansion that will create 30 new luxury independent living apartments and community amenities. The expansion, named 29th Place at Cascade Manor, will add 82,200 square feet to the community. Each new independent living apartment ranges from 1,330 to 2,700 square feet. In addition to new, larger housing options, the community is adding a new dining venue and a courtyard with exterior seating to give residents more choices for dining. Cascade Manor is also renovating existing common spaces including the dining room, main lobby, library and exterior finishes on the entire campus. Cascade Manor expects residents to begin moving into the expansion by the end of the year. Moisan Architects designed the expansion.

September 9, 2015

California Retail Western

County Commerce Bank Acquires Building in Westlake Village for $3M

by Nellie Day September 9, 2015

WESTLAKE VILLAGE, CALIF. — County Commerce Bank has acquired a freestanding bank building located at 2663 Townsgate Road in Westlake Village. The 4,183-square-foot property sold for $3 million, or $621 per square foot. County Commerce Bank plans to open a new branch at the location once the existing lease to Rabobank ends in October. Michael Schiff of NAI Capital represented the seller, Westlake Gateway Properties, in the transaction.

September 9, 2015

Multifamily Seniors Housing Washington Western

Silverado to Build New Memory Care Facility in Washington

by Nellie Day September 9, 2015

BELLINGHAM, WASH. — Memory care developer Silverado will lay the foundation for Silverado Bellingham, a 80-bed memory care community in Bellingham, on the West Coast near the Canadian border, on Sept. 11. The 41,000-square-foot, single-story community is situated on four acres of land and is slated to open in late 2016. Silverado expects development costs to total over $10 million. Architect James Brown with Wattenbarger Architects, local civil engineer Craig Parkinson with Cascade Engineering, and Dawson Construction Inc. all will participate in the construction.

September 9, 2015

Office Texas

InfusionDev Corp. Leases 9,809 SF at Town Centre I

by Katie Sloan September 8, 2015

HOUSTON — InfusionDev Corp. has leased 9,809 square feet at Town Centre I located at 750 Town & Country Blvd. in Houston. Bob Cromwell and Kevin Nolan of Moody Rambin represented the building owner, Town Centre Partners Ltd., and Kristen Rabel and Weldon Martin of CBRE represented the tenant in lease negotiations.

September 8, 2015

Retail Texas

Marcus & Millichap Arranges $3.4M Sale of 10,000 SF Net Leased Property

by Katie Sloan September 8, 2015

ATASCOCITA, TEXAS — Marcus & Millichap has arranged the $3.4 million all-cash sale of a 10,000-square-foot property net leased by The Learning Experience in Atascocita. Nate Newman of Marcus & Millichap represented the seller, a developer, and secured the buyer, a California investor, in the transaction.

September 8, 2015

Retail Texas

NewQuest Properties Arranges Five Retail Leases at Separate Properties in Texas

by Katie Sloan September 8, 2015

HOUSTON — Houston-based NewQuest Properties has arranged five retail leases at separate properties in North, Central and South Texas. Transactions include a 7,454-square-foot lease for Gen Korean BBQ House at Carrollton Town Center in Carrollton; a 43,940-square-foot ground lease for Panda Express at New Braunfels Town Center at Creekside in New Braunfels; a 21,164-square-foot lease for Halloween City at Market in Hunting Bayou in Houston; a 6,300-square-foot lease for Halloween City in Tomball Parkway Plaza in Tomball; and a 4,004-square-foot lease for Wholesale Lubricant Services at 2101 Shepherd Drive in Houston. Heather Nguyen, John Nguyen and Meredith McLeod-Cobb of NewQuest Properties represented the landlord for Carrollton Town Center, and Tey Tiner of CBRE represented Gen Korean BBQ House; David K. Meyers and Glenn Dickerson of NewQuest Properties represented the landlord of New Braunfels Town Center at Creekside, and Michael Jersin of Reata Real Estate represented Panda Express; Brad Elmore of NewQuest Properties represented the landlord of Market at Hunting Bayou and Tomball Parkway Plaza, and Traci Holman of Baker Katz represented Halloween City; and Chris Dray of NewQuest Properties represented the landlord of 2101 Shepherd Drive, 2101 Shepherd LLC, and Todd Moseley of Moseley Commercial represented Wholesale Lubricant Services in …

September 8, 2015

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