HENDERSON, NEV. — A joint venture between the Bascom Group and funds managed by Oaktree Capital Management has purchased the 110-unit Vantage apartments in the Las Vegas submarket of Henderson for an undisclosed sum. The community is located at 201 South Gibson Road. Guardian Life Insurance Company of America provided debt financing, which HFF’s Charles Halladay arranged. JLL’s John Cunningham and Charles Steele represented the seller in this transaction.
LAS VEGAS — NorthMarq Capital has arranged a $29 million refinancing loan for The Resort at the Lakes, a 427-unit apartment community in Las Vegas. The community is located at 9999 W. Katie Ave. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq’s Scott Monroe arranged financing for the borrower through its correspondent relationship with a life insurance company.
PORTLAND, ORE. — Trion Properties has acquired the 44-unit Spring Garden apartments in Portland for $4.4 million. The community is located at 2222 SW Spring Garden St. It was built in 1967. Clay Newton and Jordan Matthews of Kidder Matthews represented both the buyer and seller in this transaction.
SAN DIEGO — Calame Development has purchased an 18,472-square-foot R&D/biotech property in the Miramar submarket of San Diego for $2.5 million. The property is located at 6605 Nancy Ridge Drive. It was built in 1990. Capital Growth Properties represented Calame in the sale. NGKF’s Brent Bohlken and Paul Britvar represented the seller, Torrey Pines ANA LLC.
PHOENIX — Manning & Kass, Ellrod, Ramirez, Trester LLP has leased 16,360 square feet of office space at Security Title Plaza in downtown Phoenix. The space is located at 3636 North Central Ave. The company was previously headquartered in Scottsdale. Tiffany Winne and Luke Raimondo of Savills Studley represented the law firm. DTZ’s Mark Stratz and Scott Baumgarten represented the landlord, Reven Capital.
![Hotel-ZaZa-Memorial-City-Houston-MetroNational[3]](https://rebusinessonline.com/wp-content/uploads/2015/10/Hotel-ZaZa-Memorial-City-Houston-MetroNational3.jpg "Hotel-ZaZa-Memorial-City-Houston-MetroNational[3]")
HOUSTON — MetroNational, a Houston-based real estate investment, development and management company, has partnered with Z Resorts to construct Hotel ZaZa Memorial City at the intersection of I-10 and Bunker Hill Road in Houston. Hotel ZaZa Memorial City is the brand’s second Houston location. Kirksey Architecture will oversee the design and Anslow Bryant Construction is the general contractor of the property, which is slated to open in summer 2017. Hotel ZaZa Memorial City will include 159 guest rooms, along with 10,000 square feet of event and meeting spaces. Amenities will include a pool with bar and cabanas, a restaurant and lounge. MetroNational and Z Resorts are dedicating four levels of the 17-story hotel to 130 apartment units, with guests having access to all ZaZa amenities. Hotel ZaZa Memorial City will be located at 9787 Katy Freeway and will be the third property opening for the brand in 2017, joining Hotel ZaZa Austin in downtown Austin and Hotel ZaZa Wade Park in the north Dallas suburb of Frisco.
NEW YORK CITY — SL Green Realty Corp. has sold its interest in a commercial office condominium located at 315 W. 36th St. in New York City. Walter & Samuels Inc. acquired the 35.5 percent stake for a gross asset valuation of $115 million, or $779 per square foot. The 17-story property features 14 loft condominiums across the upper seven floors and 132,945 square feet of office space across the lower nine levels. Designed by George and Andrew Blum in 1925, the building is listed in the National Architectural Trust. SL Green acquired its interest in the property in late 2012 at a gross asset valuation of $45 million. Woody Heller of Savills Studley advised SL Green in the transaction.
JERSEY CITY, N.J. — Mack-Cali Realty Corp. and Ironstate Development Co. have topped out Urban Ready Life (URL) Harborside 1, a multifamily tower on the Jersey City waterfront. With views of the Manhattan skyline, the 69-story, 763-unit tower, which reaches 713 feet, is the tallest residential building in New Jersey. The tower is the first of three phases of a $330 million development, which will bring 2,358 residences to Jersey City upon completion. The first phase is expected to open for leasing in the fourth quarter of 2016. Dutch-based architectural firm Concrete is providing architectural services for the project.
METUCHEN, N.J. — Woodmont Properties has broken ground for Woodmont Metro at Metuchen Station, a transit-oriented apartment community located in downtown Metuchen. The 273-unit property will feature an open piazza, 11,500 square feet of retail space and a six-level parking deck with 750 parking spaces. The first phase of construction will consist of the parking deck, which will be built and managed by Nexus Properties.
PLANO, TEXAS — Capital One will begin construction this week on a new office building expected to house between 1,000 and 1,200 employees. The new building is an expansion of Capital One’s corporate campus located at 8058 Dominion Parkway in Plano, and will be the seventh office building on the campus. The four-story building will include six training rooms, a cafeteria, collaboration spaces and a game room. The Capital One Plano campus is located on 75 acres, with six current office buildings, three parking garages and a multi-purpose conference center. The combined space covers 1.3 million square feet and houses 5,900 employees. Construction of the new building is scheduled to be complete in the first quarter of 2017.
