Property Type

CBRE/NE Arranges $3.8M Sale of Office Building in New Hampshire

by Amy Works November 6, 2015

MERRIMACK, N.H. — CBRE/New England has arranged the sale of an office building located at 21 Manchester St. in Merrimack. HCOP Merrimack, a joint venture between Novaya Real Estate Ventures and Bradstreet & Chandler, sold the property, which included 4.1 acres of land, to an undisclosed buyer for $3.8 million. The 41,000-square-foot building is part of the three-building Heron Cove Office Business Park, which is situated on 15 acres. Roger Dieker and Michael Tamposi of CBRE/NE represented the seller, while Michael Ciummei and Brian Tisbert of JLL represented the buyer in the transaction.

November 6, 2015

Loans New York Northeast Office

First Niagara Provides $3.5M in Financing for New Bivona Child Advocacy Center in Rochester

by Amy Works November 6, 2015

ROCHESTER, N.Y. — First Niagara Financial Group Inc. has provided $3.5 million in financing to Bivona Child Advocacy Center in Rochester. The financing includes construction and permanent loans, as well as a historic tax credit investment in the rehabilitation of the non-profit’s new location at The Skalny Building, previously known as the Old Stone Warehouse. Located at 1 Mount Hope Ave., the 30,000-square-foot building will house many of the non-profit’s partner agencies, including law enforcement, Child Protective Services, prosecutors, medical professionals, social workers, therapists and advocates. NH Architecture provided architectural services and CP Kelly & Associates served as general contractor for the project, which opened in September.

November 6, 2015

Multifamily Oregon Seniors Housing Western

CBRE Arranges $40.1M Construction Financing for Seniors Housing Community in Oregon

by Nellie Day November 6, 2015

EUGENE, ORE. — CBRE National Senior Housing has arranged construction financing for The Springs at Greer Gardens, a 216-unit independent living, assisted living and memory care community in Eugene. The borrower is a joint venture between developer and owner/operator The Springs Living and institutional equity partner Harrison Street. The community will consist of 30 independent living cottages, 79 independent living apartments, 75 assisted living units and 32 memory care units. The 256,100-square-foot, three-story main building will house the apartments, while the 30 cottages will be located directly adjacent. The entire development is situated on a 13.4-acre parcel. CBRE secured a five-year, floating-rate loan with 48 months of interest-only payments. The loan was placed through a national bank with a regional bank participant. Aron Will, executive vice president of CBRE National Senior Housing, arranged the loan.

November 6, 2015

California Retail Western

Joint Venture Sells Food 4 Less Retail Property in Stanton for $18.5M

by Nellie Day November 6, 2015

STANTON, CALIF. — A joint venture between Heslin Holdings Inc., a privately owned commercial real estate investment and development firm, and San Diego-based Becker Properties has completed the disposition of a retail property located at 7910 Katella Ave. in Stanton. Safeco purchased the 81,000-square-foot property for $18.5 million. Food 4 Less fully occupies the building on a long-term lease through 2026. Steve Frey at Sperry Commercial and Chris Sands of Sands Investment Group represented Heslin Holdings in the transaction.

November 6, 2015

California Retail Western

TCA Architects Unveils Renderings for Mixed-Use Project in San Diego

by Nellie Day November 6, 2015

SAN DIEGO — TCA Architects has unveiled its design for Millennium Mission Valley, a mixed-use community located in San Diego’s Mission Valley. Situated on 5.3 acres, the property will feature 291 apartment homes, 14 live-work units and more than 9,000 square feet of retail space. The retail component includes two single-story retail structures and the 14 live-work units, which feature storefronts and retail awnings. The residential component is situated behind the retail space and a public paseo. Developed by The Dinerstein Companies, the project is scheduled for completion in fall 2017.

November 6, 2015

Multifamily Nevada Student Housing Western

Sundt Completes Construction on Residence Hall at University Of Nevada, Reno

by Nellie Day November 6, 2015

RENO, NEV. — Sundt Construction Inc. has completed construction of the new Peavine Hall residential community at the University of Nevada, Reno. The $35 million project, led by Sundt as the construction manager at risk, included demolition of multiple existing buildings and the construction of the 117,000-square-foot, five-story steel and concrete residence hall. Collaborative Design Studio designed the hall and LEED Gold certification is pending. The building features a brick veneer, suite-style housing for 400 students, common lounge spaces and state-of-the-art building systems. Located within the campus’ residential hall district, the new building complements the rest of the university’s campus architecture.

November 6, 2015

California Multifamily Seniors Housing Western

Summit Healthcare REIT Elects Suzanne Koenig to Board of Directors

by Nellie Day November 6, 2015

LAKE FOREST, CALIF. —Summit Healthcare REIT Inc. has named Suzanne Koenig to its board of directors after an election at the annual meeting of stockholders. Koenig is president and founder of SAK Management Services LLC, a long-term care management and healthcare consulting services company. With over 20 years of experience as an owner and operator, Koenig offers skills in operations improvement, staff development and quality assurance, with particular expertise in marketing, census development and operations enhancement for the whole spectrum of senior housing. Koenig is a Licensed Nursing Home Administrator and a Licensed Social Worker in multiple states. In addition, she has served in an advisory and consulting capacity for numerous client engagements involving bankruptcy proceedings as well as in turnaround management situations. Koenig also serves as an officer and director for several of the states’ long-term care provider associations. She is the former co-chair of the American Bankruptcy Institute’s (ABI) Health Care Committee, a co-chair for the Steering Committee of the Midwest Turnaround Management Association (TMA) Chapter, and was recently elected to the Global Turnaround Management Association Board of Trustees. She is on the board of directors for the School of Social Work at the University of Illinois, Champaign-Urbana. …

November 6, 2015

Multifamily Texas

Westmount Acquires The Colonnade Apartment Homes in Grand Prairie

by Katie Sloan November 6, 2015

GRAND PRAIRIE, TEXAS — Westmount Realty Capital LLC has acquired The Colonnade Apartment Homes, a 192-unit multifamily community located at 2815 Osler Drive in Grand Prairie. Will Balthrope and Drew Kile of Institutional Property Advisors (IPA), alongside Al Silva of Marcus & Millichap, represented the undisclosed seller. Balthrope, Kile, Silva and Rowan Burch of IPA procured the buyer in the transaction. The Colonnade is a gated community that features amenities including a fountain swimming pool, 24-hour fitness center, sand volleyball court, covered parking, detached garages, private outside patios and storage closets. Units at the complex feature double-sided steel exterior doors with door viewers and privacy locks, energy-efficient heating and air conditioning, decorative ceiling fans, nine-foot ceilings with crown moldings and master suites with garden tubs.

November 6, 2015

Multifamily Texas

Marcus & Millichap Arranges Sale of Quail Hollow Apartments in Dallas

by Katie Sloan November 6, 2015

DALLAS — Marcus & Millichap has arranged the sale of Quail Hollow Apartments, a 120-unit multifamily property located at 9666 Scyene Road in Dallas. Stephen Crittenden of Marcus & Millichap worked on behalf of the seller, a limited liability company, and procured the buyer, a private investor, in the transaction. The 75 percent occupied community is comprised of studio, one- and two-bedroom units.

November 6, 2015

Multifamily Texas

SEVEN Multifamily Community Opens in Austin

by Katie Sloan November 6, 2015

AUSTIN, TEXAS — Monogram Residential Trust Inc. has opened SEVEN, a 24-story, 220-unit Class A multifamily community located on W. Seventh Street in downtown Austin. The community was developed in partnership with CWS Capital Partners LLC. Units are equipped with Nest thermostats, and Google Fiber Optics will be fully integrated throughout the community in early 2016. Amenities at SEVEN include electric car charging stations, bike repair services, storage space, a sun deck and infinity pool, valet dry-cleaning and complimentary Whole Foods Market delivery. Units feature full-sized washers and dryers and built-in computer workstations. Monogram and Monogram Residential Master Partnership LLP, a joint venture between Monogram and PGGM Private Real Estate Fund, provided equity for SEVEN.

November 6, 2015

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