Property Type

Beacon Partners Break Ground on Spec Industrial Facility in South Carolina

by John Nelson August 14, 2015

GREER, S.C. — Beacon Partners has begun construction on a 240,020-square-foot speculative industrial facility located at 545 Brookshire Road in Greer. Beacon Partners expects to complete the property in February 2016. The location is approximately two miles from I-85, Greenville-Spartanburg International Airport and the South Carolina Inland Port at Greer. Tim Robertson of Beacon Partners will lead the leasing efforts for the facility, which will feature an ESFR sprinkler system, 32-foot clear heights and a 185-foot truck court to accommodate on-site trailer parking.

August 14, 2015

Florida Industrial Southeast

Coldwell Banker Brokers $15M Sale of Industrial Facility in Miami

by John Nelson August 14, 2015

MIAMI — Coldwell Banker Commercial (CBC) Alliance has brokered the $15 million sale of a 213,131-square-foot industrial facility located in Miami’s Airport West industrial submarket. The property is located on an 8.9-acre site at 6950 N.W. 77th Court. The facility features 175,000 square feet of industrial space, 27,000 square feet of office space and 10,000 square feet of retail space. The property’s retail tenants include Perry Ellis and Bijoux Terner. The seller, Leyjon Investments Corp., will retain office and industrial space in the facility. Jim McCoy of CBC Alliance and Jeff Hartsook of Americas Industrial Realty Corp. represented Leyjon in the transaction. Luis Nunez of Realty Professionals #1 Inc. represented the buyer, The Apollo Group, a Miami-based cruise ship catering and logistics company.

August 14, 2015

North Carolina Retail Southeast

Velocis, Lincoln Property Co. Purchase Data Center Facility in Charlotte

by John Nelson August 14, 2015

CHARLOTTE, N.C. — Dallas-based Velocis, in a partnership with Lincoln Property Co., has purchased a telecom carrier hotel and data center located at 701 Trade St. in downtown Charlotte. Built in 1968, the two-story building is more than 80 percent leased to telecommunications and colocation data center users. Lincoln Harris will lease and manage the property.

August 14, 2015

Loans Multifamily Southeast Virginia

NorthMarq Arranges $10M Refinancing of Richmond Apartment Community

by John Nelson August 14, 2015

RICHMOND, VA. — NorthMarq Capital has arranged a $10 million refinancing for Old Bridge Apartments, a 222-unit multifamily property located at 2835 Hilliard Road in Richmond. Robert Bhat of NorthMarq’s Miami office arranged the fully amortizing, 20-year loan through an unnamed life insurance company. The loan was structured with a fixed interest rate in the high 3 percent range, according to Bhat.

August 14, 2015

California Loans Office Western

HFF Arranges $38.5M Financing for Medical Office Building in Emeryville

by Nellie Day August 14, 2015

EMERYVILLE, CALIF. — HFF has arranged $38.5 million in financing for EmeryStation Greenway, a 100,000-square-foot medical office building in Emeryville. The building is located at 5800 Hollis St. in the East Bay biotechnology research and innovation corridor. The newly built space is situated near interstates 580, 880 and 980. HFF’s Bruce Ganong and Jordan Angel secured the fixed-rate loan on behalf of the borrower, Wareham Development. Thrivent Financial for Lutherans provided the capital.

August 14, 2015

Multifamily Seniors Housing Washington Western

Zenith Capital, Village Concepts Plan 100-Unit Assisted Living Community in Seattle

by Nellie Day August 14, 2015

SEATTLE — Zenith Capital and Village Concepts have announced joint plans for The Linden Village Assisted Living Community, a new 100-unit assisted living and memory care community in North Seattle. Linden Village will offer 79 units of assisted living housing in studio, one- and two-bedroom configurations. There will also be 21 units available in the memory care wing. Development cost was not disclosed. Seattle-based Zenith Capital is overseeing development and financing for Linden Village. Village Concepts, a seniors housing developer and operator based in nearby Federal Way, Wash., will operate the community.

August 14, 2015

Colorado Multifamily Seniors Housing Western

Morningstar to Open Four New Seniors Housing Communities in 2015

by Nellie Day August 14, 2015

DENVER — MorningStar Senior Living plans to open four new senior communities throughout the Southwest before the end of 2015. MorningStar Assisted Living & Memory Care of Boulder will open Sept. 11 in Boulder, Colo. The $25 million community will offer 94 suites (48 for assisted living; 46 for memory care). MorningStar Assisted Living & Memory Care at Arrowhead will open Sept. 25 in Glendale, Ariz. The $18 million community will offer 85 suites (60 for assisted living; 25 for memory care). MorningStar Assisted Living & Memory Care of Fort Collins will open in early December in Fort Collins, Colo. The $18 million community will offer 79 suites (55 for assisted living; 24 for memory care). MorningStar Assisted Living & Memory Care of Albuquerque will open in December in Albuquerque, N.M. The $17 million community will offer 69 suites (48 for assisted living; 21 for memory care). Based in Denver, MorningStar Senior Living is an operator, owner and developer of senior living communities. The company has over 2,600 units currently under management or in development across 23 communities in seven states.

August 14, 2015

California Loans Retail Western

Venture West Funding Arranges $10.2M Refinance for Pride Center

by Nellie Day August 14, 2015

WOODLAND HILLS, CALIF. — Venture West Funding Inc. has arranged a $10.2 million loan for the refinance of Pride Center, a 185,265-square-foot shopping center located in Woodland Hills. Albertsons anchors the center, with tenants including Bank of America, CVS/pharmacy, Pep Boys, Tuesday Morning, HomeGoods, Harbor Freight Tools and Jo-Ann Stores. Jean-Marc Herrouin of Venture West Funding arranged the financing through Farmers & Merchants Bank.

August 14, 2015

California Multifamily Western

Waterton Associates Buys Sunset Plaza Apartments in West Covina

by Nellie Day August 14, 2015

WEST COVINA, CALIF. — Waterton Associates has acquired the 183-unit Sunset Plaza apartment complex in West Covina for an undisclosed sum. The community is located at 1234 W. Cameron Ave. Sunset Plaza amenities include two outdoor pools, a fitness center, resident clubhouse with business center and a children’s playroom. Waterton plans to implement a value-add renovation program that will update individual units and amenity spaces, as well as refresh the community’s exterior. This is Waterton’s fifth acquisition so far in 2015. The firm’s Southern California portfolio now contains six communities with nearly 1,400 units.

August 14, 2015

New York Northeast Office

Madison Realty Capital Acquires The Brooklyn Whale Building for $82.5M

by Amy Works August 13, 2015

NEW YORK CITY — Madison Realty Capital has acquired The Brooklyn Whale Building, located at 14 53rd St. in Brooklyn’s Sunset Park neighborhood, for $82.5 million. The seven-story building offers 400,000 square feet of industrial space. Currently 79 percent occupied, the property is nearing the completion of a more than $8 million renovation program to fully reposition the building into a state-of-the-art office hub. The seller initiated the capital expenditure program and Madison Realty plans to add substantially more to the building’s renovation plans as it assumes ownership. Built in 1918 by E.W. Bliss, the property served as the headquarters for the Whale Oil Co. Renovations to the building include the installation of energy-efficient windows, new elevators, a new roof and improved power infrastructure, as well as the addition of a new lobby with concierge desk along with spaces for amenity shops and restroom facilities. Aaron Jungreis of Rosewood represented both the buyer and undisclosed seller in the off-market transaction.

August 13, 2015

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