Property Type

CBRE Secures $7.7M Refinance Loan for Retail Center in New Jersey

by Amy Works July 24, 2015

MONROE TOWNSHIP, N.J. — CBRE Group has arranged $7.7 million in first mortgage refinancing secured by Monroe Town Center in Monroe Township. Located at the intersection of Applegarth and Prospect Plains roads, the 32,205-square-foot retail center is anchored by Wawa. James Gunning, Donna Falzarano and Evan Kleppe of CBRE’s Capital Markets Debt & Structured Finance team arranged the financing for the borrower, Monroe Center Associates LLC. The financing is a CMBS loan with a 10-year term from UBS Real Estate Securities Inc.

July 24, 2015

Loans New York Northeast Retail

EagleBridge Capital Arranges $6M Loan for Brooklyn Retail Property

by Amy Works July 24, 2015

NEW YORK CITY — EagleBridge Capital has arranged $6 million in permanent mortgage financing for a retail building located at 7821 Third Ave. in Brooklyn. Rite Aid Pharmacy and Tutor Time occupy the 19,200-square-foot property. Brian Sheehan and Ted Sidel of EagleBridge secured the financing provided by a leading financial institution.

July 24, 2015

Hospitality Northeast Pennsylvania

Laurus Corp. Completes Hilton Garden Inn Renovation in Suburban Philadelphia

by Amy Works July 24, 2015

FORT WASHINGTON, PA. — Laurus Corp. has completed the repositioning of Hilton Garden Inn Philadelphia/Fort Washington, located at 530 W. Pennsylvania Ave. in Fort Washington. The renovation included upgrading guestrooms, enhancing the lobby, and renovating the 3,350 square feet of meeting space and the outdoor courtyard with ample seating areas and an outdoor fire pit. Guestroom upgrades included new carpets, modern furniture and fixtures and new beds. The company acquired the 146-room hotel in 2013.

July 24, 2015

New Jersey Northeast Office

Brown Brothers Harriman Leases 114,798 SF at Harborside Plaza 5

by Amy Works July 24, 2015

JERSEY CITY, N.J. — Brown Brother Harriman, a private bank, has signed an 11-year lease for 114,798 square feet at Mack-Cali Realty Corp.’s Harborside Plaza 5 in Jersey City. The company will be transferring more than 500 employees to the new location, a 977,225-square-foot office tower on the waterfront. Scott Gamber, Robert Stillman and Peter Gamber of CBRE represented the tenant, while Chris DeLorenzo and Tom Savoca of Mack-Cali, along with Mark Ravesloot, Peter Turchin, Gerry Miovski, Suzanne Macnow and Arkady Smolyansky of CBRE, represented the landlord in the transaction.

July 24, 2015

Office Texas

Abilene Christian University Leases Space for Campus in Metro Dallas

by Haisten Willis July 24, 2015

ADDISON, TEXAS — Abilene Christian University (ACU) has signed a long-term lease for 25,000 square feet of office space at One Hanover Park, an eight-story, 195,894-square-foot, Class A office building located at 16633 N. Dallas Parkway in Addison. PMRG’s Kurt Cherry, Brittany Ricketts and Shea Byers handled the deal internally for the firm. Holden Lunsford and James Engels of Holt Lunsford Commercial represented ACU. Built in 1998, One Hanover is located along the Dallas North Tollway and is 96 percent occupied.

July 24, 2015

Loans Multifamily Texas

Old Capital Provides Loan for French Chalet Apartments in San Antonio

by Haisten Willis July 24, 2015

SAN ANTONIO — Old Capital has provided a five-year loan with a fixed interest rate, a 25-year amortization schedule and one year of interest-only payments for French Chalet Apartments in San Antonio. Local buyers acquired the value-add asset. Using loan proceeds, the new owners will perform exterior and interior renovations to increase the value of the property.

July 24, 2015

Multifamily Texas

M&M Arranges Sale of 200-Unit Apartment Building in Metro Dallas

by Haisten Willis July 24, 2015

DUNCANVILLE, TEXAS — Marcus & Millichap has arranged the sale of Fairmeadows Apartments, a 200-unit apartment property situated on 11.7 acres in Duncanville. John Barker of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a partnership. Barker also secured the buyer, a partnership that assumed an existing Fannie Mae loan. Fairmeadows Apartments is located at 800 Merrill Road in Duncanville, a city situated within Dallas County nine miles from downtown Dallas. The construction includes a concrete slab foundation, wood framing, brick with vinyl siding exterior and pitched composition roofs. On-site amenities include laundry facilities, a swimming pool and a playground area.

July 24, 2015

Retail Texas

Transwestern Represents Mod Pizza in Opening of Five Houston Area Locations

by Haisten Willis July 24, 2015

HOUSTON — Transwestern has represented MOD Pizza in five leases totaling 13,662 square feet for new locations in the Houston area. Grant Walker and Chris Reyes of Transwestern served as advisors for MOD Pizza in the Houston market, and represented the retailer in the transactions. MOD will be operating over 100 stores across the U.S. by the end of 2015, with plans to open more than 30 additional locations in Houston within the next four to five years. MOD Pizza’s newest Houston locations include 3,175 square feet at 19820 Southwest Freeway in Sugar Land, 2,797 square feet at 5777 San Felipe St. in Houston, 2,744 square feet at 2682 Pearland Parkway in Pearland, 2,446 square feet at 10123 Louetta Road in Houston and 2,500 square feet at 14555 Memorial Drive in Houston.

July 24, 2015

Loans Office Texas

NorthMarq Secures $16.5M Refinancing of Landmark Towers in Oklahoma City

by Haisten Willis July 24, 2015

OKLAHOMA CITY — Robert Hervey and Mark Dodson of NorthMarq Capital’s Los Angeles office have arranged the $16.5 million refinancing of Landmark Towers, a 274,656-square-foot office property located at 3335-3555 NW. 58th St. in Oklahoma City. The transaction was structured with a 10-year term, five years of interest-only payments and a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender.

July 24, 2015

Office Washington Western

American Realty Advisors Acquires Amazon-Occupied Building in Seattle

by Nellie Day July 24, 2015

SEATTLE — American Realty Advisors has purchased a 317,000-square-foot mixed-use building in Seattle’s South Lake Union neighborhood for a reported $215 million. The 12-story high rise is located at 2201 Westlake. Office and retail tenants include Amazon and global health company PATH. Amazon currently occupies more than half of the property. Bang & Olufsen, West Elm, Einstein Bagels and Ann Sacks Tile & Stone occupy the retail space. American is acquiring all of the building’s office and retail components. The property also includes the 135-unit Enso condominiums. The seller was Vulcan Real Estate. CBRE’s Kevin Shannon executed the transaction.

July 24, 2015

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