Property Type

SRS Real Estate Partners Brokers $6.2M Sale of Shopping Center in North Carolina

by John Nelson January 14, 2015

EDEN, N.C. — SRS Real Estate Partners has brokered the $6.2 million sale of Meadow Greens, a 136,927-square-foot grocery-anchored shopping center in Eden. The property is located at 640 S. Van Buren Road at the southeast corner of West Kings Highway and South Van Buren Road. The shopping center’s tenant roster includes Save-A-Lot, Hibbett Sports, Aaron’s and It’s Fashion Metro. RCG Ventures sold Meadow Greens to EH Scott LLC. Kyle Stonis and Pierce Mayson of the SRS Atlanta office represented the seller in the transaction. Scott Ross of Coastal Equities represented the buyer.

January 14, 2015

Kentucky Loans Retail Southeast

A10 Capital Funds $4.3M Acquisition Loan for REO Retail Property in Louisville

by John Nelson January 14, 2015

LOUISVILLE, KY. — A10 Capital has funded a $4.3 million bridge loan for the acquisition of the Shoppes at Forest Green, an unanchored shopping center located at 10001 Forest Green Blvd. in Louisville. The loan is secured by the real estate-owned (REO) property and provided approximately 70 percent leverage. Michael Singh of A10 Capital structured the non-recourse loan on behalf of the borrower, BRAD Management. The loan will be used to fund the acquisition, as well as provide committed funds for a future tenant improvement facility.

January 14, 2015

Arizona Multifamily Western

The Brittany Apartment Complex in Mesa Sells for $3.1M

by Nellie Day January 13, 2015

MESA, ARIZ. – The Brittany apartment complex, a 92-unit multifamily property in Mesa, has sold to 29SC Brittany LLC for $3.1 million. The complex is located at 708 North Country Club. Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office represented both the buyer and seller, Pristine Estates LLC, in this transaction.

January 13, 2015

California Office Western

Rescare Workforce Leases Space in Garden Grove

by Nellie Day January 13, 2015

GARDEN GROVE, CALIF. – Rescare Workforce Services has leased 19,718 square feet of office space in Garden Grove. The space is located at 7077 Orangewood Ave. Rescare was represented by CBRE. The landlord, Burke Investment Grove LP, was represented by Shaun McCullough and Say Jeon of Lee & Associates.

January 13, 2015

Industrial Utah Western

Precision Heating and Cooling Leases Space in Salt Lake City

by Nellie Day January 13, 2015

SALT LAKE CITY – Precision Heating and Cooling has leased a 15,000-square-foot manufacturing warehouse in Salt Lake City. The building formerly served as the headquarters of Neilco. It is located at 5780 South 300 West. The commercial heating and cooling contractor plans to use the space as its main Utah headquarters. Robert Kingsford of Newmark Grubb ACRES represented both the tenant and unnamed landlord in this transaction.

January 13, 2015

Mixed-Use Texas

Caldwell Cos. Breaks Ground on Mixed-Use Project in Metro Houston

by Haisten Willis January 13, 2015

CYPRESS, TEXAS — Construction has begun on a mixed-use development located in Cypress known as The Boardwalk. The Caldwell Cos. is developing the property, which will sit at the front of the company’s master-planned community of Towne Lake. The development is centered around what will be the largest private lake in the region. When completed, The Boardwalk will feature waterfront dining, 61,000 square feet of retail and 57,500 square feet of office space accessible by both land and water. The development is set to open in the fourth quarter of 2015. In addition to office, shops and restaurants, The Boardwalk consists of five freestanding buildings, a central green area for concerts and events, a breezeway plaza and a boulder play area for kids. The project is located off of Highway 290 and Barker Cypress Road.

January 13, 2015

Industrial Multifamily Texas

BMC Capital Provides Loans for Multifamily, Industrial Properties in Metro Houston

by Haisten Willis January 13, 2015

HOUSTON and LAKE JACKSON, TEXAS — BMC Capital’s Dallas office has arranged loans for three properties in metro Houston. The first is a $20 million cash-out refinancing loan for two apartment properties located in Lake Jackson. The five-year loan featured an 80 percent loan-to-value ratio, a 5 percent interest rate and a 30-year amortization schedule. The second is a $4.8 million refinancing loan for an apartment complex in Houston. The 10-year, non-recourse loan included a 65 percent loan-to-value ratio, a 4.4 percent interest rate and a 30-year amortization schedule. The third loan is an $8.9 million refinancing loan for an industrial property in Houston. The 10-year loan included a 75 percent loan-to-value ratio, a 10-year fixed rate of 5.2 percent and a 30-year amortization schedule. Keith Van Arsdale of BMC arranged all three loans. Each loan was arranged through one of BMC’s correspondent banking relationships.

January 13, 2015

Office Texas

CBRE Arranges $13.7M in Financing for Office Property in Metro Dallas

by Haisten Willis January 13, 2015

IRVING, TEXAS — CBRE Capital Markets’ debt and structured finance group has arranged financing for Regent Center I and II in Irving. CBRE worked on behalf of Founders Properties LLC to obtain a $13.7 million non-recourse loan. The seven-year, fixed-rate loan was secured through Woodmen of the World Insurance Society. The Regent Center Portfolio consists of two office buildings totaling 150,625 square feet that are 100 percent leased by tenants including Devry University, Pulte Group, Staples Inc. and Aramark Educational Services Inc. The Regent Center buildings are situated less than a mile west of I-625 and two miles north of US Highway 114. Greg Greene, Scott Lewis and Matt Ballard of CBRE’s Dallas debt and finance group originated and secured financing on behalf of the borrower.

January 13, 2015

Multifamily Texas

IPA Brokers Sale of Mid-Rise Apartment Complex in San Antonio

by Haisten Willis January 13, 2015

SAN ANTONIO — Institutional Property Advisors, a division of Marcus & Millichap, has arranged the sale of 1800 Broadway, a 230-unit apartment building located north of downtown San Antonio in the city’s Lower Broadway Corridor. Will Balthrope and Drew Kile of IPA represented the developer, Criterion Property Co. LP, and its equity partner, Cypress Real Estate Advisors. Greystar Real Estate Partners managed the property. Churchill Forge Properties is the buyer. 1800 Broadway is located on the corner of Broadway and Grayson streets directly across from the Pearl Brewery development. Completed in 2013, 1800 Broadway is a four-story, 206,389-square-foot mid-rise development with 230 upscale units and 29 floor plans. Amenities include granite countertops, stainless steel appliances, pendant lighting, a full-size washer and dryer, two-inch blinds and nine- and 11-foot ceilings. Community amenities include a pool, fitness center, two interior courtyards and an indoor/outdoor multimedia space.

January 13, 2015

Office Texas

NAI Negotiates Sale of Office Property in Houston

by Haisten Willis January 13, 2015

HOUSTON — NAI Partners has negotiated the sale of the an office property located at 4201 FM 1960 West known as One Northchase Park near Torrey Chase Boulevard. Jaguar Investors Ltd. was the seller of the glass-clad, six-story, multi-tenant office property totaling 85,213 square feet. Doug Pack of NAI Partners facilitated the transaction. The buyer was not named.

January 13, 2015

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