Property Type

KeyBank Arranges $22.1M Loan for Apartment Community in Ohio

by Danielle Everson April 30, 2015

COLUMBUS — KeyBank Real Estate Capital has secured a $22.1 million Freddie Mac loan for Polaris Place, a multifamily apartment community in Columbus. The community was built in 2014 and includes 11, three-story, garden-style apartment buildings, totaling 224 units. The property also includes 10 detached garage buildings, a leasing office and a clubhouse. Timothy Migchelbrink of Key’s Commercial Mortgage Group arranged the financing, which was used to pay off an existing KeyBank construction loan.

April 30, 2015

Colorado Retail Western

Glowgolf Opens at the Promenade Shops at Centerra in Loveland

by Nellie Day April 30, 2015

LOVELAND, COLO. – Glowgolf has opened a 36-hole miniature golf course at the Promenade Shops at Centerra in Loveland. The indoor, glow-in-the-dark course also has an area for birthday parties and group events. The Promenade is located at 5971 Sky Pond Drive. It is managed by Poag Shopping Centers LLC.

April 30, 2015

Office Texas

Trammell Crow Completes Medical Plaza II Office Building in Houston

by Haisten Willis April 30, 2015

HOUSTON — Trammell Crow Co. has completed construction on Medical Plaza II at the Memorial Hermann Katy Hospital campus in Houston. The four-story, 100,000-square-foot building is the second building to be developed by Trammell Crow on the 66-acre campus. Memorial Hermann decided to add a new patient tower and additional medical office space in order to accommodate physicians at the hospital. Powers Brown Architecture designed the building. Trammell Crow Co. is developing a similar building to accompany its Medical Plaza I at Memorial Hermann Sugar Land Hospital, which is expected to be completed this fall.

April 30, 2015

Illinois Midwest Retail

The Boulder Group Arranges $10.7M Sale of Walgreens in Metro Chicago

by Danielle Everson April 30, 2015

OAK LAWN, ILL. — The Boulder Group has arranged the $10.7 million sale of a new single-tenant, triple-net-leased Walgreens property in Oak Lawn. The property is located at the southwest corner of 95th Street and Southwest Highway. The 61,909-square-foot Walgreens property replaces a previous Walgreens store that lacked a drive-thru. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. The seller was a Midwest-based developer and the buyer was a Northeast-based family office. The 20-year lease features 11 five-year renewal option periods.

April 30, 2015

Multifamily Student Housing Texas

Vesper Buys Two Texas Student Housing Properties

by Haisten Willis April 30, 2015

SAN MARCOS AND LUBBOCK, TEXAS — Vesper Holdings has purchased two student housing properties in Texas. The properties include Wildwood San Marcos in San Marcos and University Fountains in Lubbock. Wildwood San Marcos is a 132-unit, 528-bed student housing community located near Texas State University. Wildwood includes 11 three-story residential buildings and a clubhouse. Built in 2013, Wildwood currently maintains a 99 percent occupancy rate. Vesper is allocating $250,000 toward property improvements at Wildwood. These funds will be used to improve curb appeal, renovate the clubhouse and pool, and upgrade the amenities.

April 30, 2015

Multifamily Student Housing Texas

City of Waco Approves ACC Project Near Baylor University

by Haisten Willis April 30, 2015

WACO, TEXAS — Waco City Council has unanimously approved the zoning and design of a 702-bed student housing project in the former Speight Avenue H-E-B grocery location near Baylor University in Waco. The five-story, $40 million project, which American Campus Communities is developing, would join two other nearby complexes of the same size, the View on 10th and a proposed complex, Park7, according to the Waco Tribune. The City Plan Commission recommended and approved the project, which ACC will own, by a 7-3 vote.

April 30, 2015

Multifamily Texas

M&M Arranges Sale of 146-Unit Apartment Portfolio in Metro Dallas

by Haisten Willis April 30, 2015

IRVING, TEXAS — Marcus & Millichap has arranged the sale of Pioneer House and Executive Apartments, a 146-unit apartment portfolio located in Irving. William Jarnagin and Michael Ware of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Ware and Jarnagin also procured the buyer, a local private investor. The seller plans to utilize the sale of the portfolio to acquire a larger asset with additional cash flow. The buyer intends to make minor improvements to the stabilized asset and improve upon the existing cash flow. Old Capital arranged financing with a Fannie Mae loan from Arbor Commercial Mortgage. Pioneer House is located at 2851 W. Pioneer Drive. Executive Apartments is located at 2700 W. Grauwyler Road. The Class C multifamily communities include 15 buildings with nine efficiency, 66 one-bedroom/one-bath, 36 two-bedroom/one-bath, 34 two-bedroom/two-bath, and one three-bedroom/two-bath floor plans. At the time of listing, both properties reported 99 percent occupancy rates.

April 30, 2015

Illinois Midwest Mixed-Use Multifamily Retail

Waterton Associates Acquires Pensacola Place Apartments on Chicago’s North Side

by Danielle Everson April 30, 2015

CHICAGO — Waterton Associates LLC has acquired Pensacola Place, a 264-unit mixed-use property in Chicago’s Uptown neighborhood. The seller was undisclosed. Built in 1981, the Stanley Tigerman-designed building includes a mix of studio, one- and two-bedroom apartments, as well as 12 two-bedroom townhomes overlooking the property’s fourth-level sundeck. The property includes more than 81,000 square feet of retail space anchored by a recently renovated Jewel-Osco grocery store on the lower level of the building. Waterton will make upgrades to individual residences and also plans to update the community’s common areas. Waterton will serve as the manager for the property.

April 30, 2015

Midwest Retail Wisconsin

Siegel-Gallagher Arranges Sale of 2,366 SF Retail Building in West Allis, Wis.

by Danielle Everson April 30, 2015

WEST ALLIS, WIS. — Siegel-Gallagher has arranged the $304,000 sale of a 2,366-square-foot retail building in West Allis. Forward Dental West Allis is located at 8801 W. National Ave. Zeon Properties LLC purchased the property from The Oliver E. Moths Estate LLC for an undisclosed sales price. Patrick Gallagher, Matson Holbrook and Max Schultz of Siegel-Gallagher represented the seller.

April 30, 2015

Illinois Midwest Multifamily

BARBERMurphy Group Arranges Sale of 24-Unit Apartment Complex in Eldorado, Ill.

by Danielle Everson April 30, 2015

ELDORADO, ILL. — BARBERMurphy Group has arranged the sale of a 40,000-square-foot, 24-unit apartment complex in Eldorado. The asset is located at 1901 Organ St. BONLUKE Apartments purchased the property for an undisclosed sales price. Jerry Hunt of BARBERMurphy Group represented the buyer and the undisclosed seller.

April 30, 2015

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