Property Type

Crow-Holdings-Industrial-Stafford-Grove-industrial-park-texas

Crow Holdings Breaks Ground on 351,960 SF Industrial Park in Metro Houston

by Haisten Willis February 9, 2016

STAFFORD, TEXAS — Crow Holdings Industrial (CHI) has broken ground on Stafford Grove Industrial Park, a 351,960-square-foot business park located at the corner of West Airport Boulevard and Murphy Road in Stafford. The Class A development will consist of three buildings: a 95,400-square-foot rear-load building, a 165,000-square-foot cross-dock building and a 91,560-square-foot front-load building. The project is expected to be complete in the third quarter of 2016. Amenities include an ESFR sprinkler system, 24- to 30-foot clear heights and trailer storage. This is CHI’s second development in Houston’s metropolitan area. Stream’s Justin Robinson, Matteson Hamilton and Dane Petersen will handle leasing and management of the property. Rosenberger Construction is the general contractor on the project.

February 9, 2016

Mason Joseph Co. Secures $18.7M Construction Loan for Apartment Community in Denison

by Haisten Willis February 9, 2016

DENISON, TEXAS — Mason Joseph Co., a San Antonio-based FHA multifamily lender, has secured an $18.7 million loan for the construction and permanent financing of The Residence at Gateway Village. The property is a proposed 180-unit apartment community in Denison. The financing was secured through the U.S. Department of Housing and Urban Development’s 221(d)(4) loan insurance program. The borrower secured a non-recourse loan that is fixed for the initial 16-month construction period and a subsequent 40-year term. Residence at Gateway Village is being built as part of a master-planned development, Gateway Village, on the west side of US Highway 75 at Grayson Drive. The apartment will be spread over eight three-story buildings. Sherman, Texas-based Covenant Development Partners, a privately held regional multifamily development and investment firm, is developing the project. Parkcrest Builders will serve as the project’s general contractor, and Residence Property Co. will serve as the management agent.

February 9, 2016

Loans Multifamily Texas

Dougherty Mortgage Secures $9.9M Fannie Mae Loan for Las Colinas Apartments in Austin

by Haisten Willis February 9, 2016

AUSTIN, TEXAS — Dougherty Mortgage has secured a $9.9 million Fannie Mae loan for the acquisition financing of Las Colinas Apartments, a 177-unit apartment property located in Austin. Property amenities include two laundry facilities, courtyards with barbecue and picnic areas, a community room and a children’s playground. A partnership between Old Capital Lending and Dougherty’s Minneapolis office arranged the loan on behalf of the borrower, 1500 Reagan Hill LLC. The loan features a 12-year term and 30-year amortization schedule.

February 9, 2016

americanstar-mattress-1185-West-Corporate-Drive-Arlington-texas

Industrial Retail Texas

Americanstar Mattress Opens North Texas Showroom, Distribution Center in Arlington

by Haisten Willis February 9, 2016

ARLINGTON, TEXAS — Americanstar Mattress LLC has entered the north Texas market, inking a 25,230-square-foot lease for showroom and distribution space in the Great Southwest Industrial District. The California-based company has leased as-is space at 1185 W. Corporate Drive in Arlington. Will Dillard of Dallas-based Bradford Commercial Real Estate Services represented the tenant, who also has a distribution center in Houston. Americanstar’s first location in the region is accessible to I-30 and TX 360. The rear-load structure has a 24-foot clear height and four loading docks. Bill Bexley of JSC Realty Investment Services Inc. represented Avenue J Partnership Ltd., landlord of the fully leased, 50,265-square-foot industrial building.

February 9, 2016

Florida Industrial Southeast

Seefried Industrial Properties to Develop 275,226 SF Spec Industrial Facility in Lakeland

by John Nelson February 9, 2016

LAKELAND, FLA. — Seefried Industrial Properties has broken ground on a Class A, 275,226-square-foot spec industrial facility at Bridgewater Commerce Center in Lakeland. The property’s owner, USAA Real Estate Co., has tapped Clay Witherspoon of Avison Young’s Tampa office to lease the project, which is situated at the southwest quadrant of I-4 and Highway 33. Upon completion in the fourth quarter of 2016, the facility will feature 36-foot clear heights. Bridgewater Commerce Center’s existing tenants include JC Penney, Havertys, HD Supply, Empire, Southeastern Paper Group and TA Chen International Inc.

February 9, 2016

Multifamily Southeast Tennessee

Spirit Bascom Ventures, Oaktree Buy Multifamily Portfolio in Nashville MSA

by John Nelson February 9, 2016

NASHVILLE AND HERMITAGE, TENN. — Spirit Bascom Ventures, an affiliate of Irvine, Calif.-based The Bascom Group, and funds managed by Oaktree Capital Management LP have closed on the purchase of two apartment communities in Nashville totaling 838 units. The portfolio includes the 560-unit Bellevue West at 100 Ridgelake Parkway and the 278-unit Highlands at the Lake at 100 Arbor Lake Blvd. in Hermitage, a suburb of Nashville. Vincent Lefler of JLL represented the seller in the transaction. Brian Eisendrath and Annie Rice of CBRE Capital Markets arranged acquisition financing through San Francisco-based ACORE Capital.

February 9, 2016

Florida Retail Southeast

Colliers Brokers $16.1M Sale of Shopping Center in St. Petersburg

by John Nelson February 9, 2016

ST. PETERSBURG, FLA. — Colliers International has arranged the $16.1 million sale of Shoppes at the Royale, a 46,020-square-foot shopping center located at 1400-1500 66th St. North in St. Petersburg’s Tyrone neighborhood. Built in 2008, the property is fully leased to tenants such as Pei Wei Asian Diner, Massage Envy, Orangetheory Fitness and Verizon Wireless. In 2012, Atlanta-based Halpern Enterprises purchased the shopping center out of foreclosure at 52 percent occupancy. Halpern Enterprises sold the property to Sarall II LLC, a private investor that owns shopping centers in Sarasota and Fort Myers. Michael Milano, Ronald Schultz and Ben McLeish of Colliers International’s Tampa Bay office represented Halpern in the transaction. McLeish previously leased the property on behalf of Halpern.

February 9, 2016

Florida Loans Office Southeast

NXT Capital Provides $15.1M Acquisition Loan for Office Property in Orlando

by John Nelson February 9, 2016

ORLANDO, FLA. — NXT Capital has provided a $15.1 million acquisition loan for the Reserve at Maitland, a three-building, Class B office property in Orlando totaling 197,000 square feet. The property is situated on the south side of Maitland Center, just north of Orlando’s central business district, with access to I-4.

February 9, 2016

Georgia Multifamily Southeast

Equus Capital Partners Sells Apartment Community in Macon for $14.5M

by John Nelson February 9, 2016

MACON, GA. — Equus Capital Partners Ltd. has sold Madison River Place, a 240-unit apartment community in Macon, for $14.5 million. Mullberry Properties LLC purchased the property, which was 95 percent occupied at the time of sale. Built in 1988, the community features a resort-style swimming pool, fitness center, tennis and sand volleyball courts and a playground. Robert Stickel of Multi Housing Advisors represented the seller in the transaction. Greg Curci of Equus oversaw the company’s disposition of Madison River Place.

February 9, 2016

Indiana Midwest Office

Colliers International Negotiates $4.9M Sale of Historic Office Building in Downtown Indianapolis

by Christina Cannon February 9, 2016

INDIANAPOLIS — Colliers International has negotiated the sale of an 82,565-square-foot historic office building in downtown Indianapolis for $4.9 million. NAYA USA Investment purchased the building, One North Pennsylvania, from One North Penn LLC. The building was constructed in 1909 and is currently 69 percent leased. Tenants at the property include Centier Bank, Pita Pit and Alpha Tau Omega. Alex Cantu, John Demaree, Matt Langfeldt and Rich Forslund of Colliers International represented the seller in the transaction. Beau Ansty of Stenz Management represented the buyer.

February 9, 2016

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