Property Type

CBRE Arranges $20.1M Acquisition Financing for Assisted Living Community Near Seattle

by Nellie Day January 11, 2016

MUKILTEO, WASH. — CBRE National Senior Housing has arranged a $22.1 million loan for Capitol Seniors Housing, which will use the money to acquire and renovate Harbour Pointe Retirement & Assisted Living Community, a 107-unit independent living and assisted living community in the Seattle suburb of Mukilteo. Capitol, a Washington, D.C.-based owner and developer, plans to use $1 million of the loan to convert 31 assisted living units into a memory care wing for the 104,523-square-food community, among other improvements. The non-recourse, floating-rate loan includes a five-year term with 36 months of interest-only payments. A national bank is providing the capital. Capitol will lease the property to Milestone Retirement Communities, a Vancouver, Wash.-based operator of 30 communities in 10 states. Aron Will, executive vice president, led the CBRE team in the transaction.

January 11, 2016

California Retail Western

Passco Acquires Day Creek Village in California for $15.8M

by Nellie Day January 11, 2016

RANCHO CUCAMONGA, CALIF. — Passco Companies LLC has acquired Day Creek Village, a 25,002-square-foot shopping center located in Rancho Cucamonga, for $15.8 million. Tenants at the fully occupied center include Starbucks Coffee, Wells Fargo, Super Cuts, Subway and Orange Theory Fitness. Ralph’s grocery store shadow-anchors the property. CJ Osbrink and Gleb Lvovich of HFF represented Passco and the seller, Day Creek Village LLC, in the off-market transaction.

January 11, 2016

Multifamily Student Housing Utah Western

Redstone Residential To Manage Multifamily Community in Utah

by Nellie Day January 11, 2016

ST. GEORGE, UTAH — Redstone Residential has been awarded management of two new communities comprised of 1,084 beds. The two communities are Gateway at Lubbock, a 748-bed community that serves students at Texas Tech University in Lubbock, Texas, as well as Canyonlands Apartments, a 336-bed project adjacent to Dixie State University in St. George.

January 11, 2016

Colorado Retail Western

Pinnacle Arranges Sale of Retail Property in Colorado for $5M

by Nellie Day January 11, 2016

PARKER, COLO. — Pinnacle Real Estate Advisors has arranged the $5 million sale of 12311 Pine Bluffs Way, a 20,230-square-foot retail building located in Parker. Pete Foster of Pinnacle represented the buyer, The SmartCap Group Inc., in the transaction.

January 11, 2016

California Retail Western

Main + Main Names Mike Clark Executive Director

by Nellie Day January 11, 2016

SANTA MONICA, CALIF. — Santa Monica-based brokerage firm Main + Main has named Mike Clark as its executive director. Prior to joining Main + Main, Clark spent 20 years with Cushman & Wakefield. Clark will be based in the company’s San Diego office, and will specialize in shopping centers, retail strip centers and freestanding retail buildings in the San Diego area.

January 11, 2016

Multifamily Texas

HFF Secures Capital for Development of Apartment Complex in Plano

by Haisten Willis January 11, 2016

PLANO, TEXAS — HFF has secured capital for the development of The Huntington, a 320-unit apartment community in west Plano. HFF worked on behalf of a joint venture between Catalyst Urban Development and LandPlan Development to secure first mortgage construction financing through a regional bank and equity through Canyon Partners Real Estate. The Huntington will be built on a 5.5-acre site in the northeast quadrant of Preston Road and Headquarters Drive. The property will be adjacent to Legacy Business Park, a 2,655-acre office development that hosts several corporate headquarters including Toyota and FedEx. Due for completion in the first quarter of 2018, the property’s amenities include a swimming pool, grilling area, fire pits, two dog-friendly open spaces and fitness center. An attached parking garage offers direct access to each building level. Jeremy Sain led the HFF team representing the developer.

January 11, 2016

Loans Office Texas

Grandbridge Arranges $6.2M Loan for Office Building in Houston

by Haisten Willis January 11, 2016

HOUSTON — Adam Lipkin of Grandbridge Real Estate Capital’s Miami team has secured a $6.2 million bridge loan for a Houston-area office building. A sovereign wealth fund operated by the Republic of Nauru owns the property. A direct small-balance commercial real estate lender provided the two-year loan to the Nauru Phosphate Royalties Trust, a subsidiary of Nauru Realty Trust. With just under 10,000 inhabitants, Nauru is the world’s smallest island nation. Its government developed the Nauru Phosphate Royalties Trust to invest proceeds from a state-owned mining company. The loan facilitated by Lipkin provides a short-term financing solution for the Houston office building, which is occupied by Jacobs Technology, a wholly owned subsidiary of publicly traded NASA contractor Jacobs Engineering Group. Jacobs provides technical, professional and construction services to various industrial, commercial and governmental clients. The Jacobs office building is located at 2224 Bay Area Blvd. at the hard corner of Bay Area Boulevard and Space Center Boulevard in the Clear Lake area of Houston.

January 11, 2016

Office Texas

Moody Rambin Arranges Office Lease in Houston

by Haisten Willis January 11, 2016

HOUSTON — Weeks Marine has leased 8,266 square feet at the Columbia Centre building located at 11011 Richmond Ave. in the Westchase submarket of Houston. Griff Jaggard and Kurt Kistler of Moody Rambin represented the building owner, DIG Columbia Centre, in the lease. Andre Granello with Cresa Partners represented the tenant in negotiations. Weeks Marine is a marine construction and dredging company.

January 11, 2016

Industrial Texas

SSGT Acquires San Antonio Self-Storage Facility for $12.3M

by Haisten Willis January 11, 2016

SAN ANTONIO — Strategic Storage Growth Trust (SSGT), which is sponsored by SmartStop Asset Management, has acquired a self-storage facility in San Antonio for $12.3 million. The facility consists of 385 self-storage units and 49,250 square feet of storage space. In addition, the property contains 5,800 square feet of cold storage space, 8,300 square feet of office space and 9,000 square feet of warehouse space. The property, located at 875 E. Ashby Place, will offer climate-controlled units.

January 11, 2016

Retail Texas

Hunington Properties Sells 4,826 SF Burger King in McAllen

by Haisten Willis January 11, 2016

MCALLEN, TEXAS — Hunington Properties has arranged the sale of a 5,000-square-foot Burger King restaurant located at 700 W. Nolana St. in McAllen. The tenant operates 275 Burger King restaurants in Texas and Florida. The premises are subject to a long-term triple net lease.

January 11, 2016

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