Property Type

Lakeview Apartments in Westminster Receives $26.3M in Financing

by Nellie Day February 20, 2015

WESTMINSTER, COLO. — The 504-unit Lakeview Apartments in Westminster has received $26.3 million in financing. The community is located at 3701 West 68th Ave., about 10 miles north of Downtown Denver. Lakeview Apartments is situated at the intersection of West 68th Avenue and Lowell Boulevard. It is within three blocks of an upcoming light rail station. The fixed-rate loan features a 10-year term with three years interest-only. The securitized loan contains a 3.65 percent interest rate. Acquisition financing was arranged by HFF’s Brock Yaffe and Kristian Lichtenfels through the firm’s Freddie Mac Program Plus Seller/Servicer program. The loan was arranged on behalf of BMC Investments.

February 20, 2015

Hospitality New Mexico Western

WR Management Debuts GuestHouse International Inn & Suites Albuquerque Airport

by Nellie Day February 20, 2015

ALBUQUERQUE, N. MEX. — WR Management Co. has opened the new 80-room GuestHouse International Inn & Suites Albuquerque Airport. The hotel is located at 2601 Mulberry South East. The property has been recently upgraded and renovated. The hotel is situated near the University of New Mexico, Old Town Albuquerque and Albuquerque International Sunport Airport. The hotel also offers complimentary shuttles to the airport. The hotel features free wireless Internet access, complimentary hot breakfast and a kids-stay-free policy. GuestHouse International is part of the Boomerang Hotels property group.

February 20, 2015

California Retail Western

Phillips Edison Grocery Center REIT II Buys North Point Landing in Modesto

by Nellie Day February 20, 2015

MODESTO, CALIF. — Phillips Edison Grocery Center REIT II has purchased North Point Landing, a 152,769-square-foot shopping center in Modesto, for an undisclosed sum. The center is located at 3848 McHenry Ave. North Point is anchored by Walmart Supercenter. Other notable tenants include GNC, T-Mobile, the UPS Store, Allstate and Round Table Pizza. Phillips Edison Grocery Center REIT II is a public, non-traded REIT that seeks to acquire and manage well-occupied, grocery-anchored neighborhood shopping centers having a mix of national and regional retailers selling necessity-based goods and services. It looks for properties in strong demographic markets throughout the U.S. It currently owns and manages an institutional-quality retail portfolio with 22 grocery-anchored shopping centers totaling 2.5 million square feet.

February 20, 2015

King Mill Distribution Park South Atlanta

Georgia Industrial Southeast

Trammell Crow, Allstate Acquire Site to Develop Industrial Park in South Atlanta

by John Nelson February 20, 2015

ATLANTA — Trammell Crow Co. and Allstate have acquired a 44-acre land site in the South Atlanta industrial submarket to develop a new industrial park. King Mill Distribution Park will be an 846,496-square-foot, Class A distribution center built on a speculative basis. Located along I-75 in Henry County, the industrial building will feature 36-foot clear heights, trailer storage, employee vehicle parking and two separate entrances. Jeff Torto and Mike Everly of CBRE Global Investors are co-portfolio managers with Allstate in the development. Trammell Crow expects construction to start in the spring and wrap up by the end of the year.

February 20, 2015

District of Columbia Office Southeast

Oxford Properties Group Acquires Interest in Washington Center in D.C.

by John Nelson February 20, 2015

WASHINGTON, D.C. — Oxford Properties Group has purchased a 49.7 percent stake in Washington Center, a 335,000-square-foot office building located at 1001 G St. N.W. in Washington, D.C.’s East End submarket. Oxford Properties Group is the real estate arm of OMERS, the pension plan for municipal employees in Ontario. Oxford partnered with the 12-story building’s developer, Quadrangle Development Corp., in the transaction. QDC Property Management will continue to manage the asset on behalf of the joint venture and QuikPark, also a Quadrangle affiliate, will continue to manage the five-story, below-grade parking garage.

February 20, 2015

Florida Multifamily Southeast

Marcus & Millichap Brokers $21.8M Sale of Apartment Community in Tampa

by John Nelson February 20, 2015

TAMPA, FLA. — Marcus & Millichap has brokered the $21.8 million sale of University Club, a 536-unit apartment community located at 12702 University Club Drive in Tampa. Community amenities include 24-hour gated access, on-site laundry facilities, a fitness center, business center, two dog parks, playground and two swimming pools. Francesco Carriera and Michael Regan of Marcus & Millichap represented both the buyer and the seller in the transaction.

February 20, 2015

Industrial Northeast Pennsylvania

Construction Begins for 1.02M SF Distribution Facility at Prologis Carlisle

by Amy Works February 20, 2015

CARLISLE, PA. — Prologis has broken ground for construction on a distribution facility at its Prologis Carlisle site. Situated on 105 acres off Allen Road in Carlisle, the 1.02 million-square-foot building is Prologis’ first speculative development in the market since 2007. The property also includes an additional build-to-suit site fully approved for 398,840 square feet. Slated for occupancy in August, the facility will feature 36-foot ceiling heights and 7-foot concrete floors to provide tenants with greater efficiency and increased cubic capacity for racking and stacking. Cushman & Wakefield is the leasing agent for Prologis Carlisle industrial park.

February 20, 2015

Loans Mixed-Use New York Northeast

Meridian Capital Arranges $30M in Refinancing for NYC Mixed-Use Property

by Amy Works February 20, 2015

NEW YORK CITY — Meridian Capital Group has arranged a $30 million loan for the refinancing for a mixed-use property in New York City. The borrower is BLDG Management. The five-year loan, which was provided by a regional balance sheet lender, features a 2.85 percent fixed-rate. Located at 330 Bleecker St., the property features 199 apartments and 3,800 square feet of retail space. Carol Shelby and Dani Sabesan of Meridian Capital arranged the financing.

February 20, 2015

Industrial North Carolina Southeast

DTZ Brokers Sale of Industrial Properties in Charlotte

by John Nelson February 20, 2015

CHARLOTTE, N.C. — DTZ has brokered the sale of two industrial properties located at 2198 and 2130 Wilkinson Blvd. in Charlotte. Titan Electric Co. Inc. purchased the assets, which total roughly 30,200 square feet, from Quinn Management for an undisclosed price. Charlie Ripple of DTZ’s Charlotte office represented the seller in the transaction. Andy Burch of Ford Realty Co. represented the buyer.

February 20, 2015

Loans New Jersey Northeast Retail

NorthMarq Capital Arranges $18M in Refinancing for Concordia Shopping Center in New Jersey

by Amy Works February 20, 2015

MONROE TOWNSHIP, N.J. — NorthMarq Capital has arranged $18 million for the refinancing of Concordia Shopping Center, a 135,090-square-foot retail property in Monroe Township. Located at 1600 Perrineville Road, the property is anchored by a Stop & Shop. The loan features a 10-year term and a 30-year amortization schedule. Ernest DesRochers of NorthMarq Capital secured the financing through NorthMarq’s correspondent relationship with a life insurance company.

February 20, 2015

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