Property Type

BDC Advisors Buys Portland Office Building for $35.3M

by Nellie Day February 27, 2015

PORTLAND, ORE. — BDC Advisors has acquired a 96,250-square-foot office building in Portland for $35.3 million. The mid-rise building is located at 2100 Southwest River Parkway in the city’s Central Business District. The Class A building is situated in the south end of CBD on the Willamette River. It sits adjacent to the southern-most part of Waterfront Park, less than a mile southeast of Downtown. The eight-story property was built in 1995. It is fully leased to two tenants. The transaction was executed by HFF. The seller was Clarion Partners. HFF also secured a seven-year, fixed-rate acquisition loan for BDC through a regional bank.

February 27, 2015

California Hospitality Western

Holiday Inn San Diego Mission Valley Stadium Changes Hands

by Nellie Day February 27, 2015

SAN DIEGO — A regional hotel investor has purchased the 175-room Holiday Inn San Diego Mission Valley Stadium for an undisclosed sum. The hotel is located at 3805 Murphy Canyon Road. The Holiday Inn is located about three miles from Qualcomm Stadium, home to the San Diego Chargers. The seller, a special servicer, acquired the hotel through foreclosure. It was represented by Mike Armstrong of HREC Investment Advisors.

February 27, 2015

California Industrial Western

Exeter Property Group Buys Distribution Building in Livermore

by Nellie Day February 27, 2015

LIVERMORE, CALIF. – Exeter Property Group has purchased an 81,717-square-foot distribution building in Livermore for more than $6.5 million. The Class A building is located at 7701-7703 Las Positas Road. Exeter was represented by Michael Donnelly and Joe Yamin of Colliers International. The seller, Bolliboka Properties, was represented by Michael Lloyd of the same firm.

February 27, 2015

Kensington Park Maryland Seniors Housing

Loans Maryland Seniors Housing Southeast

Prudential Mortgage Capital Provides $41M to Refinance Seniors Housing Facility in Maryland

by John Nelson February 27, 2015

KENSINGTON, MD. — Prudential Mortgage Capital Co., the commercial mortgage lending business of Prudential Financial Inc. (NYSE: PRU), has provided a $41 million loan to Fountain Square Properties to refinance Kensington Park, a Class A independent, assisted and memory care community located in Kensington. Tom Goodsite and Trace Wilson of Prudential Mortgage Capital were the leads on the transaction. The loan was originated through Freddie Mac’s Senior Housing program. The property consists of 61 independent living units, 52 assisted living units and 51 memory care units and is situated on more than eight acres, just north of the I- 495 Beltway in Montgomery County. Kensington Park is managed by an affiliate of its owner, Fountain Square Properties.

February 27, 2015

Office South Carolina Southeast

tvsdesign Celebrates Groundbreaking of LPL Financial’s 450,000 SF Regional Headquarters

by John Nelson February 27, 2015

FORT MILL, S.C. — Atlanta-based tvsdesign has announced the groundbreaking of LPL Financial’s new regional headquarters in Fort Mill, a suburb of Charlotte. The architecture firm was the architect and interior designer of record for the 450,000-square-foot campus that will be located on 27.9 acres in Kingsley, a master-planned development. The new campus will house roughly 1,000 LPL Financial employees and will have elevators and stair cores separated from office areas to maximize interior space and natural daylight. Other sustainable features include reclaimed interior woodwork sourced from white oak trees on the grounds, the use of local and recycled materials, electric vehicle charging stations, tree preservation, bicycle storage and net-zero water efficiency techniques. The property’s on-site amenities will include outdoor meeting areas, a restaurant, fitness center and health clinic. The campus is slated for a late fall 2016 completion.

February 27, 2015

Florida Industrial Southeast

Monmouth Acquires FedEx-Leased Industrial Property in Jacksonville for $30.6M

by John Nelson February 27, 2015

JACKSONVILLE, FLA. — Monmouth Real Estate Investment Corp., a public equity industrial REIT, has acquired a new 297,579-square-foot industrial building located at 13509 Waterworks St. in Jacksonville for $30.6 million. The property is net-leased to FedEx Ground Package System Inc. for 15 years. The distribution center is located on a 42.2-acre site near the Port of Jacksonville, as well as I-95 and I-10. The seller was undisclosed.

February 27, 2015

Florida Loans Multifamily Southeast

CBRE Arranges $21.9M Acquisition Loan for Tallahassee Apartment Community

by John Nelson February 27, 2015

TALLAHASSEE, FLA. — CBRE Debt & Structured Finance has originated a $21.9 million acquisition loan for Delaney Park at Southwood, a 248-unit luxury apartment community located at 3550 Esplanade Way in Tallahassee. Completed in 2007 by Epoch Properties, the community’s interiors include 9- to 18-foot ceilings, bay windows, private entryways and surround sound. The property’s amenity package includes a clubhouse, movie theater, garages, car wash, sauna and spa, fitness center, indoor basketball court, business center, library and a swimming pool. Christopher Apone, Charles Foschini and Christian Lee of CBRE arranged the 10-year loan with four years of interest-only payments through Fannie Mae on behalf of the borrower, Miami-based Momentum Real Estate Partners.

February 27, 2015

Florida Retail Southeast

Marcus & Millichap Brokers $6.2M Sale of Retail Property in Miramar

by John Nelson February 27, 2015

MIRAMAR, FLA. — Marcus & Millichap has brokered the $6.2 million sale of Shoppes at Monarch, a 13,466-square-foot retail property located at 12703 Miramar Parkway in Miramar. The property is part of the Monarch Professional Centre mixed-use development that features 64,000 square feet of medical and professional office space. Shoppes at Monarch is fully leased to tenants such as Little Caesars Pizza, Karate America, Nami Sushi and El Trebol. Douglas Mandel and Barry Wolfe of Marcus & Millichap’s Fort Lauderdale office represented the seller, a Coral Gables-based limited liability company, in the transaction. The buyer was a limited liability company based in Miami Beach.

February 27, 2015

Office Texas

Structural Work Completed at Legacy VI and VII Office Buildings in Metro Dallas

by Haisten Willis February 26, 2015

PLANO, TEXAS — Bob Moore Construction has completed structural work for the Legacy VI and VII office buildings. Upon completion, Legacy VI and VII will deliver 245,508 square feet of speculative office space in a 24-acre, three-building campus. Lincoln Property Co. hired Bob Moore Construction as the general contractor for Legacy VI and VII in 2014. Legacy VI will include two buildings, each spanning 60,428 square feet. Legacy VII is a 124,652-square-foot, two-story office building. All three buildings were constructed with tilt-up construction. The campus also features 1,463 parking spaces spread over 582,522 square feet of new paving.

February 26, 2015

Multifamily Texas

Gaia, Menora Mivtachim and Amitim Acquire Multifamily Portfolio in Houston

by Haisten Willis February 26, 2015

HOUSTON — Gaia Real Estate, Menora Mivtachim Insurance and Amitim Senior Pension Funds have acquired a five-property, 1,376-unit portfolio located in Houston. Menora Mivtachim is an Israel-based insurance company and Amitim is Israel’s largest institutional organization. The Class B multifamily properties are concentrated amongst two locations in the Spring Branch/Bear Creek and Champions East submarkets. Amenities at the properties include swimming pools and spas, fitness centers, playgrounds, resident business centers, barbeque areas as well as covered parking. Gaia owns more than 16,500 residential units with 5,670 units spread throughout 19 properties in Houston. The company plans a comprehensive unit and exterior capital upgrade program and will rebrand some of the communities.

February 26, 2015

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