Property Type

PRP Sells Apartment Complex in Metro Houston for $27M

by Haisten Willis February 9, 2015

KATY, TEXAS — PRP LLC has sold Providence at Grand Parkway, a 250-unit luxury community for active seniors 55 and older located in Katy. Built in 2009, the property features nine separate buildings and was developed through a partnership with Blazer Building Corp. Grand Parkway features a heated pool, business center, library, conference room, chapel, activity rooms, game room, a fitness center, media room and covered parking. The undisclosed buyer acquired the property for $27 million or $108,000 per unit. The property was 95 percent leased at the time of sale.

February 9, 2015

CenterPoint Properties Sells 10-Building Industrial Portfolio in Wisconsin

by Danielle Everson February 9, 2015

OAK BROOK, ILL. — CenterPoint Properties has sold a 10-building industrial portfolio in Wisconsin. The portfolio consists of 1.74 million square feet and 116 acres of land. Erik Foster, Mike Wilson and Christy Wold of Avison Young co-brokered with Chad Vande Zande, represented CenterPoint in the transaction. The building addresses of the properties include W142 N9251 Fountain Blvd. in Menomonee Falls; 5401 W. Donges Bay Road in Mequon; 7025 W. Parkland Court in Milwaukee; 7501 N. 81st St. in Milwaukee; 11925 W. Carmen Ave. in Milwaukee; 2450 S. 170th St. in New Berlin; 16405 W. Lincoln Ave. in New Berlin; 16800 W. Ryerson Road in New Berlin; 2900 S. 160th, St. in New Berlin; and 6736 W. Washington Dr. in West Allis. CenterPoint is an owner/operator of industrial real estate property, consisting of 47.3 million square feet and 5,450 acres nationwide.

February 9, 2015

Office Texas

Moody Rambin Arranges Lease of Office Building in Houston

by Haisten Willis February 9, 2015

HOUSTON — London Offshore Consultants has leased 8,054 square feet at the Imperial 20 building, which is located at 16800 Imperial Valley Drive in the Greenspoint submarket of Houston. Kurt Kistler of Moody Rambin represented the owner, 16800 Imperial LLC. Chad Beck of Cushman & Wakefield represented the tenant in the transaction.

February 9, 2015

Arizona Industrial Western

Pair of Sky Harbor Warehouses in Phoenix Sells for $6.3M

by Nellie Day February 9, 2015

PHOENIX – A pair of warehouses that are situated just south of Phoenix Sky Harbor International Airport have sold to ViaWest Group for $6.3 million. The warehouses are located at 2950 E. Broadway Road. They contain 50,256 square feet and 44,838 square feet and are part of Broadway Crossing industrial park. Both buildings are fully leased. They were built in 2000. Matt McDougall of Lee & Associates represented both the buyer and seller, CNA Enterprises, in this transaction.

February 9, 2015

California Industrial Western

AMPAM Parks Buys Carson Industrial Building for $5.8M

by Nellie Day February 9, 2015

CARSON, CALIF. – AMPAM Parks Mechanical has purchased a 50,100-square-foot industrial building in Carson for $5.8 million. The facility is located at 17036 S Avalon Blvd. It served as the former headquarters of National Emblem. AMPAM plans to occupy the new facility later this year. The company was represented by Bart Pucci of Studley. National Emblem was represented by Greg Gill and Sean Lieppman of Lee & Associates – Long Beach.

February 9, 2015

California Retail Western

Trojan Fig Partners Buys 901 Bar & Grill Near USC in Los Angeles

by Nellie Day February 9, 2015

LOS ANGELES – Trojan Fig Partners LLC has purchased 901 Bar & Grill, a popular restaurant near the USC campus in Los Angeles, for an undisclosed sum. The transaction included two buildings and three tenants: 901 Bar & Grill, Carl’s Jr. and El Pollo Loco, located at 2902, 2912 and 2904 South Figueroa Street, respectively. The seller, Figueroa Retail LLC, was represented by CBRE’s Chris Caras and Michael Shustak.

February 9, 2015

California Industrial Western

Irvine Industrial Building Sells for $3.8M

by Nellie Day February 9, 2015

IRVINE, CALIF. – A 21,463-square-foot industrial building in Irvine has sold to RH Matthews LLC for $3.8 million. The building is located at 17752 Fitch Street. Jim deRegt, Jim Snyder and Pat Lacey of Lee & Associates – Newport Beach represented both the buyer and seller, MDG Real Estate, in this transaction.

February 9, 2015

California Multifamily Western

The Courtyard Terrace Apartments Near Berkeley Sells for $3.7M

by Nellie Day February 9, 2015

BERKELEY, CALIF. – The 32-unit Courtyard Terrace Apartments in El Sobrante has sold to a limited liability company for $3.7 million. The community is located at 4200 Appian Way, just north of Berkeley. It was built in 1960 and renovated in 2010. The LLC was represented by Jon Holmquist of Marcus & Millichap’s San Francisco office. The seller, also an LLC, was represented by Vincent Schwab and Jon Holmquist of the same firm.

February 9, 2015

Loans Midwest Minnesota Multifamily

Dougherty Mortgage Secures $31.3M Loan for Apartment Complex in St. Paul, Minn.

by Danielle Everson February 6, 2015

ST. PAUL, MINN. — Dougherty Mortgage LLC has secured a $31.3 million Fannie Mae loan for the refinancing of Victoria Park Apartments, a 215-unit multifamily apartment property located in St. Paul. The 12-year loan includes a 30-year amortization schedule and three years of interest-only payments. Dougherty’s Minneapolis office arranged the loan for the borrower, Victoria Park Communities LLC. Victoria Park Apartments include one-, two- and three-bedroom options. The units feature open concept floor plans and high-end finishes, including gourmet kitchens with granite countertops, designer cabinetry and energy-efficient appliances. Property amenities include outdoor swimming pool with terrace, club room with bar, fitness center, tech lounge, underground heated parking, yoga room, free bike rentals and concierge services.

February 6, 2015

Midwest Missouri Multifamily Seniors Housing

Senior Capital Advisors Arranges $28.5M Sale of 73-Unit Seniors Housing Facility

by Danielle Everson February 6, 2015

KANSAS CITY, MO. — Senior Capital Advisors, representing seller Principal Senior Living Group, has sold Benton House of Shoal Creek, a 73-unit, 88-bed assisted living and memory care community in Kansas City, Mo. The facility was sold to American Realty Capital Healthcare Trust II for $28.5 million, or $390,000 per unit. Bruce Gibson, principal with Senior Capital Advisors, led the sale. Principal Senior Living Group will continue to manage the property on behalf of the new owners. The property’s all-private-pay census was above 90 percent at closing. The community opened in 2012 and was expanded in late 2014.

February 6, 2015

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