IRVINE, CALIF. — WNC, an Irvine-based investor specializing in low-income housing tax credits (LIHTC), has closed WNC Institutional Tax Credit Fund 41 L.P., a $114.7 million institutional LIHTC fund. Estimated to include 1,674 affordable housing units in total, the fund’s portfolio is comprised of 24 family and seniors housing communities scheduled for new construction and rehabilitation. The properties will be located in 11 states: Arkansas, California, Louisiana, Minnesota, Missouri, Montana, New Mexico, Tennessee, Texas, Washington and Wisconsin.
ALBUQUERQUE, N.M. — Houlihan-Parnes has arranged a $9.1 million refinancing for Ladera Shopping Center, a 128,712-square-foot shopping center located in Albuquerque. Ed Graf of Houlihan-Parnes secured the five-year loan. The center is currently 95 percent occupied by 23 tenants including John Brooks Supermarket, Dollar Tree, Taco Cabana, Bank of Albuquerque, Planet Fitness, the UPS Store, Supercuts, H&R Block and T-Mobile. Burger King occupies a pad site.
DENVER — Jensen Precast has purchased a 143,960-square-foot industrial facility in the Denver submarket of Lockeford for an undisclosed sum. The facility is located at 12101 E. Brandt Road. The space will serve as an expansion of the precast concrete company’s existing facility. The seller is NCI Building Systems. Eric Dienstbach of Binswanger, along with John Fondale of Newmark Cornish & Carey, executed the transaction.
FORT COLLINS, COLO. — NorthMarq has arranged a $3.7 million refinancing for 3636 and 3700 S. College Ave. in Fort Collins. The collateral consists of two freestanding retail buildings totaling 35,211 square feet. The center is home to a mix of local and regional tenants including Men’s Wearhouse. Mark Jeffries and Conor McCahill of NorthMarq arranged the financing for the borrower.
PRICE, UTAH – The Price Human Services Building, a 37,829-square-foot office building in Utah, has sold to an unnamed buyer. The price was not disclosed. The space is located at 475 West Price River Drive in Price. It is fully leased to tenants like the Utah Attorney General, the Utah Department of Workforce Services, the Utah Department of Family and Child Services, and the Utah Department of Rehabilitation Services. The seller, Fairbridge Properties, purchased the asset in 2013.
HOBOKEN, N.J. — AvalonBay Communities Inc. has acquired Halstead 800 Madison, a 217-unit, transit-oriented, Class A apartment community located in Hoboken, for $129.7 million. The property is located at the intersection of Madison and 8th streets. The location is one block from the 9th Street Light Rail Station, which provides access to the Hoboken PATH Station, as well as Jersey City, Bayonne and Weehawken. The PATH station, accessible by way of the property’s complimentary shuttle service, provides access to the World Trade Center and Lower Manhattan. Completed in 2008, the five-story property offers one-, two- and three-bedroom units averaging 998 square feet. The community features an expansive courtyard with a resort-style swimming pool and hot tub, sundeck, barbecue dining area, bocce court and fire pit. Other amenities include a fitness center, yoga studio, children’s playroom, pet spa, bike repair shop, 24/7 concierge service, two rooftop decks and a media room with a full kitchen and lounge seating. Jose Cruz, Andrew Scandalios, Kevin O’Hearn, Michael Oliver and Stephen Simonelli of HFF brokered the transaction on behalf of the seller, The DSF Group. HFF previously assisted The DSF Group in the acquisition of the property in late 2013. As of September 2015, …
AUSTIN, TEXAS — CBRE Capital Markets has brokered the sale of Donley Plaza, a 69,547-square-foot office asset in Austin. Nashville-based OakPoint Real Estate and local partner Haverwood Management purchased the asset from a California-based partnership. Donley Plaza marks the fifth office acquisition in Austin for the OakPoint/Haverwood duo. Donley Plaza, located at 2201 Donley Drive in north-central Austin, was 65 percent occupied at the time of closing. The building was constructed in 1983 and renovated in 2013. The buyer has an opportunity to lease one full floor of the building in a location just east of the Domain, a mixed-use community. OakPoint and Haverwood are partnering with a local architecture firm to redevelop Donley Plaza for creative and tech-oriented users. Additionally, the new ownership group is in the early planning stages for a build-to-suit on the adjacent vacant site, which is being marketing to large corporate users seeking value office space in and around the North Austin/Domain submarket.
FORT WORTH, TEXAS — Greysteel has arranged the sale of The Brazos on Hulen, a 100-unit multifamily community in Fort Worth. Greysteel’s Boyan Radic, Doug Banerjee, Andrew Mueller and Ryan Hill represented the seller, Classic Asset Acquisition 3, in the sale of The Brazos on Hulen to Tyler Associates. The property includes 28 one-bedroom units, 56 two-bedroom/two-bathroom units, eight three-bedroom/two-bathroom units and eight three-bedroom/three-bathroom units.
DALLAS — Marcus & Millichap has arranged the sale of Illinois Gardens Apartments, a 36-unit apartment property located in Dallas. John Barker and Mark Allen of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a limited liability company. Illinois Gardens Apartments is located at 3333 E. Illinois Ave. in Dallas. Illinois Gardens is a two-story apartment community constructed of brick with wood siding. Unit amenities include walk-in closets and mini blinds. Common area amenities include an on-site laundry facility, interior courtyards and gated entry. Recent capital improvements include new pitched roofs, exterior wood replacement, cabinets, electrical outlets, flooring and both interior and exterior paint.
DALLAS — Equity Office has closed a new lease transaction with Sabre for 196,048 square feet in Solana Business Park in Dallas. Cushman & Wakefield’s Chris Taylor, Rodney Helm and Layne Mayfield represented Solana on the Sabre leasing transaction. Ryan Matthews and Cannon Camp of JLL represented Sabre, which inked a new deal to lease all of Building 2 at the Terrace at Solana, as well as the first three floors of Building 3. Solana Business Park is undergoing a $65 million campus renovation that modernizes the property’s original architectural design. The majority of the renovations are finished with final completion scheduled for mid-2016. Solana Business Park is a five-minute drive from Dallas/Fort Worth International Airport.