Property Type

Port San Antonio Begins $9M Road Extension

by Katie Sloan September 9, 2015

SAN ANTONIO — The City of San Antonio’s Transportation and Capital Improvements Department has begun demolition of several obsolete buildings totaling over 40,000 square feet at Port San Antonio, a redevelopment of the former Kelly Air Force base, to extend portions of 36th Street by an additional half mile toward the south. Upon completion in late 2016, the new road will intersect with General Hudnell Drive, providing the 1,900-acre property with additional road connections in support of growing logistics activity. The road will now end near the aircraft maintenance workshop facilities and Air Force headquarters operations where the majority of the Port’s 12,000 daily commuters work. The road extension will support the future development of industrial and mixed-use sites in the heart of the property.

September 9, 2015

Healthcare Office Texas

Henry S. Miller Cos. Arranges Three Medical Office Leases in North Texas

by Katie Sloan September 9, 2015

DALLAS — Dallas-based Henry S. Miller Cos. has arranged three medical office leases totaling approximately 19,000 square feet in North Texas. Transactions include the lease of 5,738 square feet to KRK Research Group at Arlington Medical Plaza located at 801 Road to Six Flags in Arlington; the lease of 4,453 square feet to Liberty At Home Dialysis at Red Bird Office Park located at 5565 Red Bird in Dallas; and the lease of an 8,790-square-foot medical clinic to GDC Partners at Avalon Town Center in Glandbury. Jim Turano of Henry S. Miller Cos. represented the landlord of Arlington Medical Plaza, Liberty At Home Dialysis and GDC Partners in the three separate transactions. John Pelitier and Dave Cochran of E. Smith Realty represented KRK Research Group; Andrew Gilbert of Holt Lunsford represented the landlord of Red Bird Office Park, 5565 Red Bird LP; and Kornel Romada of NAI Robert Lynn represented the landlord of Avalon Town Center, WREE Avalon LLC, in the lease negotiations.

September 9, 2015

Healthcare Mississippi Southeast

Colliers Brokers $66.5M Sale of Medical Office Complex in Mississippi

by John Nelson September 9, 2015

HATTIESBURG, MISS. — Colliers International has brokered the $66.5 million sale of The Orthopedic Institute, a medical office complex located at 27 Veterans Memorial Drive in Hattiesburg. The complex comprises a two-story, 73,750-square-foot orthopedic hospital and a three-story, 63,944-square-foot medical office building. Forrest Health occupies the hospital, and Southern Bone & Joint Specialists PA occupies the medical office building. The hospital was sold for $39.3 million to an undisclosed institutional investor, and the medical office building was sold to a separate undisclosed institutional investor for $27.2 million. Josh Randolph of Colliers International’s Birmingham office represented the sellers, Pointe Properties LLC and Southern Development Resources, in the transactions.

September 9, 2015

Florida Loans Multifamily Seniors Housing Southeast

Capital One Closes $52M Loan for Seniors Housing Community in Florida

by John Nelson September 9, 2015

VENICE, FLA. — Capital One has provided a $52 million loan for the recapitalization of a joint venture that owns Jacaranda Trace, a 433-unit seniors housing property in Venice. The property comprises 215 independent living units, 20 assisted living units, 36 memory care units, a clubhouse and 33 acres of land. Private parties hold the remaining units. Community amenities include dining, concierge services and scheduled transportation. The joint venture is between ROC Seniors Housing Fund Manager LLC (the majority investor) and Freedom Senior Management. The joint venture intends to expand the property by adding independent living and assisted living units on the property’s vacant land. Capital One also provided a revolving line of credit to fund future growth initiatives associated with the property.

September 9, 2015

Infinity Hall Gainesville University of Florida

Florida Multifamily Southeast Student Housing

Brasfield & Gorrie Completes New Residence Hall at UF’s Innovation Square

by John Nelson September 9, 2015

GAINESVILLE, FLA. — Brasfield & Gorrie has completed the construction of Infinity Hall, a new residence hall located at the University of Florida’s Innovation Square in Gainesville. The new live-learn community has opened to students for the fall semester. With a capacity to accommodate more than 300 residents, the facility’s four floors of residence suites include eight single rooms, 16 single-suite rooms, 48 double-suite rooms and 20 four-person-suite rooms. The facility also includes team meeting rooms, an entertainment room, flexible spaces to support the university’s entrepreneurship programs, a resident apartment and a maintenance shop. Infinity Hall was privately developed by Signet Development in partnership with the university’s Department of Housing and Residence Education. Specifically designed for students interested in entrepreneurship, the community aims to expose students to the startup community, local entrepreneurs and CEOs. Serving as construction manager-at-risk, Brasfield & Gorrie partnered with developer and owner Signet Development and architect Perkins+Will on the $15.9 million construction project. The team broke ground in 2014 and completed the project on schedule.

September 9, 2015

Florida Retail Southeast

Rockpoint, Ivanhoe Cambridge to Recapitalize Mary Brickell Village in Miami

by John Nelson September 9, 2015

MIAMI — Rockpoint Group LLC has partnered with Ivanhoé Cambridge to recapitalize Mary Brickell Village, a retail and lifestyle center located at 901 S. Miami Ave. near Miami’s financial district. Ivanhoé Cambridge will continue to hold a minority interest, and Rockpoint will become the majority owner. Terms of the transaction were not disclosed. Originally developed in 2008, the 195,988-square-foot property is occupied by more than 50 stores and restaurants, including Publix, LA Fitness, P.F. Changs China Bistro, Fado Irish Pub, Oceanaire Seafood Room, Rosa Mexicana, Blue Martini and Brother Jimmys. Mary Brickell Village has immediate access to the Miami Metrorail at Brickell Station and the Metromover.

September 9, 2015

Loans Retail Southeast Virginia

KeyBank Arranges $20.4M CMBS Loan for Shopping Center in Virginia

by John Nelson September 9, 2015

YORKTOWN, VA. — KeyBank Real Estate Capital has secured a $20.4 million CMBS first mortgage for Village Square at Kiln Creek, a 267,021-square-foot shopping center located in Yorktown. The shopping center is anchored by Kroger. Scott Bois of KeyBank secured the non-recourse loan on behalf of the unnamed borrower.

September 9, 2015

Multifamily Oregon Western

Jackson Square Properties Buys Terrene at the Grove Near Portland for $59.5M

by Nellie Day September 9, 2015

PORTLAND, ORE. — Jackson Square Properties has purchased the 288-unit Terrene at the Grove apartment complex in the Portland submarket of Wilsonville for $59.5 million. The community is located at 8890 SW Ash Meadows Circle. Terrene at the Grove was built in 2013. Jackson Square also recently acquired the Addison, a 147-unit apartment community in Vancouver. HFF’s Ira Virden and Kerry Hughes represented the seller, Holland Partner Group and its finance partner.

September 9, 2015

Office Washington Western

PMF Investments Buys Homeport Building and Marina in Kirkland for $28M

by Nellie Day September 9, 2015

KIRKLAND, WASH. — PMF Investments has purchased the Homeport Building and Marina in Kirkland for $28 million. The office property is located at 135 Lake St. The Homeport Building is one of only a few office marina investments existing on Lake Washington, according to Kidder Mathews, which brokered the sale. The firm’s Jason Rosauer, Andy Miller and Rob Anderson represented the seller, Westwater Development.

September 9, 2015

Multifamily Oregon Seniors Housing Western

Cascade Manor CCRC in Oregon Undergoing $10M Expansion

by Nellie Day September 9, 2015

EUGENE, ORE. — Cascade Manor, a continuing care retirement community (CCRC) in Eugene, is currently in progress on a $10 million expansion that will create 30 new luxury independent living apartments and community amenities. The expansion, named 29th Place at Cascade Manor, will add 82,200 square feet to the community. Each new independent living apartment ranges from 1,330 to 2,700 square feet. In addition to new, larger housing options, the community is adding a new dining venue and a courtyard with exterior seating to give residents more choices for dining. Cascade Manor is also renovating existing common spaces including the dining room, main lobby, library and exterior finishes on the entire campus. Cascade Manor expects residents to begin moving into the expansion by the end of the year. Moisan Architects designed the expansion.

September 9, 2015

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