SAINT PAUL AND ROSEVILLE, MINN. — Marcus & Millichap has arranged the $850,000 sale of two Kindercare Learning Centers located in Minnesota. The properties are located at 1541 Humboldt Ave. in Saint Paul and 2186 Fairview Ave. N. in Roseville. Reed Fenton and Tammy Saia of Marcus & Millichap’s Chicago Oak Brook office represented the seller and the buyer, both private investors. Craig Patterson of the firm assisted in closing the transaction. The property at 1541 Humboldt Ave. was built-to-suit for Kindercare in 1977. The building spans approximately 4,950 square feet. The property at 2186 Fairview Ave. N. was built-to-suit for Kindercare in 1976 and also spans approximately 4,950 square feet.
PLEASANTON, TEXAS — Franklin Street Real Estate Services has arranged STL Retail Properties’ $3.2 million purchase of Pleasanton Plaza, a 70,466-square-foot, Bealls-anchored center located in Pleasanton. Bryan Belk of Franklin Street’s Atlanta office represented the buyer in the transaction. Pleasanton Plaza, located at 1715 W. Oaklawn Road, is fully occupied by Bealls and Tractor Supply. The buyer plans to hold the property long-term.
GEORGETOWN AND PFLUGERVILLE, TEXAS — Granite Investment Group has sold two senior housing properties near Austin for $23.4 million. The sale included Park Place Care Center and Assisted Living, a senior care campus that includes a 116-bed skilled nursing facility and a 48-bed assisted living facility in Georgetown. Built in 1997 on nearly seven acres, Park Place offers 24-hour skilled nursing care, short- and long-term rehabilitation, common areas, private and semi-private rooms, activity directors, spiritual care and an order-by-menu dining program. An affiliate of Granite Investment Group originally purchased the property in 2007 for $9.2 million. The second property in the transaction is Pflugerville Care Center, an 111-bed skilled nursing facility built in 1991 on 3.2 acres. The facility provides residents with short- and long-term rehabilitation care. An affiliate of Granite Investment Group originally purchased the property in 2005 for $9.1 million. Mark Myers and Joshua Jandris of Institutional Property Advisors, a division of Marcus & Millichap, brokered the transaction.
RICHARDSON, TEXAS — KDC, a real estate development and investment firm, has announced that Good Union Urban Barbeque will open its first location at CityLine, the company’s 186-acre mixed-use project in Richardson. The restaurant will serve Texas barbeque. Meat will be smoked on an indoor fire pit equipped with ventilation to accommodate the building. There will be a patio facing the central plaza where guests can enjoy craft beers and premium cocktails from the full-service bar while listening to live music in the park. The 3,903-square-foot restaurant is scheduled to open in the fall of 2015. It will be located in the base of One CityLine at 1150 State St.
DALLAS, HOUSTON — HFF has arranged the sale of a 27-building, 2.35 million-square-foot, 95.6-percent leased industrial portfolio located in Metro Dallas and Houston. HFF marketed the portfolio on behalf of the seller, a partnership between Mayfield Properties LP and AB Real Estate Group. A private fund advised by Crow Holdings Capital – Real Estate purchased the assets for an undisclosed amount. The eight Dallas-Fort Worth properties are located in the DFW Airport North, Great Southwest, Valwood and West Brookhollow industrial markets. The 11 buildings are 98 percent leased and total 1 million square feet. The eight Houston facilities are located in the Northwest and Southwest industrial markets and total 16 buildings with 1.3 million square feet. That portfolio is 93.6-percent leased. Randy Baird, Rusty Tamlyn, Jud Clements, Trent Agnew, Robby Rieke, Stephen Bailey and John Rogers led the HFF investment sales team representing the seller.
AUSTIN, TEXAS — A10 Capital has funded a $4.6 million bridge loan to fund the refinance of two medical office buildings in Austin. The commercial mortgage is secured by the two Class B buildings and provided 65 percent leverage. Dennis Williams of NorthMarq Capital arranged the financing. The bridge loan was structured on a non-recourse basis and proceeds were used to fund the refinance of a mature CMBS loan as well as provide committed funds to facilitate the future lease up of the property.
MONTGOMERY, ALA. — Birmingham-based Retail Specialists LLC has topped out 79C, its new mixed-use development located on Bibb Street between Commerce and Lee streets in downtown Montgomery. The development is located across from the Montgomery Convention Center. Upon completion, the development will feature 54 Class A multifamily units and 15,800 square feet of retail space on the ground floor. The retail space will house four to six retailers and Mellow Mushroom has already committed as a tenant. Golden Bell Capital and Iberia Bank provided construction financing for the development. The design team includes general contractor Brasfield & Gorrie, architect Live Design Group and engineer Goodwyn, Mills and Cawood. T.J. Wiliford of Partners Realty is handling the management and leasing for the multifamily portion of 79C, and David Plummer of Retail Specialists is handling the management and leasing responsibilities for the retail portion. The development team expects to deliver 79C in September 2015.
WINTER SPRINGS, FLA. — CBRE has brokered the $54 million sale of The Park at Laurel Oaks, a 552-unit apartment property located at 1 Laurel Oaks Drive in Winter Springs, about 15 minutes outside of Orlando. New York-based White Eagle Property Group purchased the gated community from Laurel Oaks LLC. The property’s amenity package includes a fitness center, business center, tennis court, car care center, private garages and two swimming pools. The asset was 95 percent occupied at the time of sale. Shelton Granade, Luke Wickham and Justin Basquil of CBRE represented the seller in the transaction.
ATLANTA — JLL has arranged a $38.2 million Freddie Mac loan for Walton Westside, a newly constructed 254-unit apartment community in Atlanta. The property is located in Atlanta’s West Midtown district and features a 2,000-square-foot rooftop terrace, onsite coffee shop, resort-style swimming pool, fitness center, outdoor grills and fire pits. Faron Thompson and John Bray of JLL arranged the loan on behalf of the borrower, Walton Communities.
TYSONS CORNER, VA. — Finmarc Management Inc. and its partners have sold a 40,000-square-foot neighborhood shopping center located at 8459 Leesburg Pike in Tysons Corner for $31.1 million. Retail Properties of America Inc. purchased the asset, which was fully leased at the time of sale. The shopping center’s tenant roster includes Golfsmith USA, Chick-fil-A, Chipotle Mexican Grill, Roti Restaurant and Hamilton Sofa & Leather Gallery. Ken Goldberg of Uniwest Realty represented the buyer in the transaction.