NORTH RICHLAND HILLS, TEXAS — CBRE Capital Markets has arranged the sale of Courtyards on Glenview, a 241-unit multifamily community in the Fort Worth suburb of North Richland Hills. The 257,087-square-foot complex is located at 4401 Glenview Court, and was 93 percent occupied at the time of sale. Chris Deuillet and Nita Stewart of CBRE’s Dallas office represented the seller, Courtyards on Glenview LP, in the sale of the property to EB Real Estate Group LLC for an undisclosed price.
AUSTIN, TEXAS — Aspen Heights has topped out on Rise – 8th and Nueces, a 198-unit apartment tower located at 805 Nueces St. in downtown Austin. This project will be Aspen Heights’ first non-student housing development. The 22-story project will feature a rooftop infinity edge pool, deck and lounge, a rooftop dog park and a top-floor fitness center overlooking the State Capitol Building. Aspen Heights worked with local firm Greenstar Development to source the land, fund the project and assist with development. Rhode:Partners is the project’s architect.
DALLAS — Metropolitan Capital Advisors (MCA) has arranged $6.9 million in both debt and equity for the construction of Block at Bennett, a 22-unit high-end condominium development in Dallas. MCA arranged the financing on behalf of a partnership sponsored by Larkspur Capital. The property will be located near the corner of Bennett Avenue and Fuqua Street in the Dallas neighborhood of Henderson. The construction loan was funded by a regional bank and was structured with limited recourse. The equity partner is a foreign investment fund.
HOUSTON — Cousins Properties Inc. has signed a 12-year, 29,000-square-foot headquarters lease with CommunityBank of Texas, NA at 9 Greenway Plaza in Houston. Greenway Plaza is a 10-building, 4.4 million-square-foot office portfolio. The space leased in 9 Greenway Plaza provides the bank first floor lobby presence and tower space on the ninth floor for bank executives and personnel, according to Bob Boykin, senior vice president and market leader for Cousins Properties. Charlie Neuhaus and Harry Holmes of Avison Young represented CommunityBank of Texas in the lease transaction. Boykin, Bubba Harkins and Warren Savery represented Cousins Properties in-house.
FARMINGTON AND HOWELL, MICH. — Capital Finance LLC, a subsidiary of Baltimore-based Capital Funding Group (CFG), has arranged a $7 million working capital line of credit for the operator of Farmington Health Care Center in Farmington and Howell Care Center in Howell. Both towns are northwest suburbs of Detroit. The two skilled nursing facilities, which were recently acquired, total 273 beds. The credit line provides the borrowers with additional commitment capacity while they work to obtain their new provider numbers from the Centers for Medicare and Medicaid Services, according to CFG.
COMSTOCK PARK, MICH. — NAI Wisinski of West Michigan has brokered the sale of a 9,333-square-foot office building in Comstock Park, a northern suburb of Grand Rapids, for an undisclosed price. OPMA Properties LLC sold the building, located at 4211 N. Division Ave., to Sun Coast Packaging Inc., a provider of bags and packaging materials. Sun Coast Packaging acquired the facility through the acquisition of the company Shapiro Packaging. Mary Anne Wisinski and Dave Smies of NAI Wisinski of West Michigan represented the seller in the transaction, and Chip Bowling of X Ventures represented the buyer.
ZION, ILL. — Avison Young has arranged a 150,192-square-foot industrial lease expansion and renewal in Zion, approximately 50 miles north of Chicago. Focus Foodservice now occupies the entire building, which is located at 451 Trumpet Drive. The distribution facility features 30-foot clear heights, 150 parking spaces and two grade-level dock doors. The building is situated within the Trumpet Corporate Park, an 8.1-acre complex developed by Panattoni Development Co. in 2008. Keith Puritz, Eric Fischer and Brett Kroner of Avison Young represented the tenant in the transaction. Chris Volkert and Matthew Stauber of Colliers International represented the landlords, Prudential Insurance Co. and Panattoni Development Co.
LIVONIA, MICH. — Friedman Integrated Real Estate Solutions has arranged a 35,020-square-foot office lease in Livonia, approximately 20 miles northwest of Detroit. Exel, a third-party logistics company, will occupy the space at Seven Mile Crossing. Universal Properties Three LLC owns the building located at 38701 Seven Mile Road. Steve Eisenshtadt and Todd Hawley of Friedman represented the landlord in the transaction.
CALEDONIA, WIS. — The Dickman Company Inc./CORFAC International has negotiated a 9,000-square-foot lease in Caledonia, approximately 20 miles south of Milwaukee. Educators Credit Union will occupy the industrial building, which is located at 289 27th St. Ninneman Properties II LLC is the landlord. Cale Berg of The Dickman Company Inc. was the sole broker in the transaction.
NEW YORK CITY — Ariel Property Advisors has arranged the $42.1 million sale of a three-building multifamily portfolio in Central Harlem. Castellan Real Estate Partners sold the portfolio, which totals 156,870 square feet, for $42.1 million, or approximately $290,000 per unit. Featuring 144 residential units and three employee units, the properties are located at 117-125 W. 141st St., 127-135 W. 141st St. and 137-145 W. 141st. Victor Sozio, Shimon Shkury, Michael Tortorici, Josh Berkowitz and Matthew Gillis of Ariel Property Advisors represented the seller and procured the buyer, a partnership between Guardian Realty Management and Irving Langer and Michael Langer of E&M Associates.
