Property Type

Vista Investment Group Purchases Office Building in Austin

by Haisten Willis January 23, 2015

AUSTIN — An investment group formed by Vista Equities Group and Vista Private Equity Group has purchased Park Central, a three-story, 115,000-square-foot Class A office building. The building is located in north central Austin in close proximity to I-35 and Parmer Lane. The property was built in 2008 and was 83 percent leased at the time of the acquisition. Austin-based ECR will handle leasing responsibilities for Park Central. Vista Management Co. will provide property management services. GE Capital Corp. arranged financing, and Tyler Ford of HFF’s Houston office arranged the transaction.

January 23, 2015

JV Breaks Ground for 55 Hudson Yards Office Tower

by Amy Works January 23, 2015

NEW YORK CITY — Mitsui Fudosan American Inc., Related Cos. and Oxford Properties Group have partnered for the full capitalization of 55 Hudson Yards. The joint venture has broken ground for construction of the office tower, which will be located at 33rd Street and 11th Avenue on Hudson Park and Boulevard. Situated within the 28-acre Hudson Yards development, the 51-story, 1.3 million-square-foot building is slated for tenant fit-out in 2017. Designed by A. Eugene Kohn and Kohn Pederson Fox Associates, the property is anticipated to achieve LEED Gold certification upon completion. Upon build out, Hudson Yards will include more than 17 million square feet of commercial and residential space, more than 100 shops and restaurants, approximately 5,000 residences, a cultural space, 14 acres of public open space, a 750-seat public school and a 175-room luxury hotel.

January 23, 2015

Hospitality Loans New York Northeast

HFF Closes $22.4M Ground Sale/Leaseback, Secures $21M Loan for Holiday Inn Manhattan View

by Amy Works January 23, 2015

NEW YORK CITY — HFF has brokered the $22.4 million sale/leaseback and arranged $21 million in financing for Holiday Inn Manhattan View, a full-service hotel located in Long Island City in Queens. A New York-based private investor purchased the land under the hotel and then leased it back to the seller, Queens Plaza North LLC, for 99 years. HFF secured the fixed-rate loan through Cantor Commercial Real Estate (CCRE for Queens Plaza North LLC. Located at 39-05 29th St., the 16-story, 136-key hotel features a full-service restaurant, lounge with patio space, state-of-the-art fitness center, business center, 800 square feet of meeting space, concierge services, on-site parking and views of Manhattan. Robert Delitsky, KC Patel, Jackie Ferrer and Cindy True of HFF represented the seller in the transaction.

January 23, 2015

Multifamily Northeast Pennsylvania

UMH Properties Buys Multifamily Community for $3.8M in Pennsylvania

by Amy Works January 23, 2015

ERIE, PA. — UMH Properties has acquired Holly Acres, a manufactured home community in Erie, for $3.8 million. Situated on 40 acres, the community consists of 141 developed home sites. The average occupancy for the community is 96 percent. With this acquisition, UMH own 89 communities totaling approximately 15,200 developed home sites. Additional terms of the deal were not released.

January 23, 2015

Mixed-Use Northeast Pennsylvania

Paramount Realty Services Acquires 30 Assets in Central Pennsylvania

by Amy Works January 23, 2015

LANCASTER, PA. — Lancaster-based LMS Commercial Real Estate has arranged the sale of more than 30 assets, totaling two million square feet, to affiliates of Lakewood, N.J.-based Paramount Realty. With this transaction, Paramount Realty will have assets in excess of $1 billion, ownership of approximately 7.5 million square feet and leasing assignments in excess of 13 million square feet throughout Connecticut, Maryland, Massachusetts, New Jersey and Pennsylvania. Brandon Famous of CBRE|Fameco provided consulting services for the deal.

January 23, 2015

Multifamily New York Northeast

Marcus & Millichap Brokers $2.6M Apartment Building Sale in Brooklyn

by Amy Works January 23, 2015

NEW YORK CITY — Marcus & Millichap has arranged the sale of an apartment building located at 68 Maujer St. in Brooklyn. The eight-unit building sold for $2.6 million. Shaun Riley, James Saros and Michael Salvatico of Marcus & Millichap’s Brooklyn office represented the seller and buyer, both private investors, in the 1031 exchange transaction.

January 23, 2015

City Lights Atlanta Old Fourth Ward Wingate Columbia Residential

Georgia Multifamily Seniors Housing Southeast

Wingate Cos., Columbia Residential Break Ground on Seniors Housing Facility in Atlanta

by John Nelson January 23, 2015

ATLANTA — Wingate Cos. and Columbia Residential have broken ground on City Lights, an 80-unit affordable seniors housing development located at 430 Boulevard in Atlanta’s Old Fourth Ward district. The project is the first phase of the redevelopment of the Village of Bedford Pine. The property’s one-bedroom apartments will be made available to qualifying seniors aged 62 or older. The project’s financial partners include Community Affordable Housing Equity Corp., Sugar Creek Capital, HUD, the Georgia Department of Community Affairs and Atlanta’s Office of Housing. Prudential Huntoon Paige is providing construction financing for the project, which is slated for a summer 2016 completion. Amenities at City Lights will include a fitness center, TV and movie room, community kitchen, sundeck, covered garage, Wi-Fi access and a business center.

January 23, 2015

Georgia Industrial Southeast

Sealy & Co. Purchases 12-Building Industrial Portfolio in Metro Atlanta

by John Nelson January 23, 2015

MARIETTA, GA. — Sealy & Co. has purchased Northwest Business Center, a 12-building industrial portfolio in Marietta spanning 472,000 square feet. The warehouse and light-industrial park is located near I-75 and I-285 in Cobb County, home to the new Atlanta Braves stadium known as SunTrust Park, which will open in April 2017. Sealy & Co. purchased Northwest Business Center for an undisclosed amount for its investment offering: Sealy Strategic Equity Partners.

January 23, 2015

Florida Hospitality Loans Southeast

HFF Arranges Financing for Three-Hotel Portfolio in Orlando

by John Nelson January 23, 2015

ORLANDO, FLA. — HFF has arranged financing for a three-property, 414-room hotel portfolio in Orlando. The properties include the 124-room Residence Inn Orlando Convention Center at 8800 Universal Blvd.; the 167-room SpringHill Suites Orlando Convention Center at 8840 Universal Blvd.; and the 123-room Hampton Inn Orlando International Airport at 5767 T.G. Lee Blvd. Each of the hotel properties were either renovated in 2013 or 2014. Michael Weinberg and Anthony Frogameni of HFF arranged the financing on behalf of the borrower, JHM Hotels.

January 23, 2015

Florida Retail Southeast

Morgan Property Group to Develop Florida Community Bank Branch in Fort Lauderdale

by John Nelson January 23, 2015

FORT LAUDERDALE, FLA. — Morgan Property Group (MPG) has purchased two adjacent land parcels totaling 19,560 square feet at the northeast corner of South Federal Highway and Southeast 7th Street in Fort Lauderdale. Through its affiliate Rio Vista Financial LLC, MPG purchased a 14,760-square-foot parcel of land from Caryl L. Henry Exempt Trust and the adjacent 4,800-square-foot parcel from Rio-Vista Saloon LLC. Bill Rotella of The Rotella Group Inc. represented Caryl L. Henry Exempt Trust, and Kimberly Barbar of Stiles Realty represented Rio-Vista Saloon. MPG plans to develop a freestanding, 3,500-square-foot branch of Florida Community Bank, which will feature a single-lane drive thru and a 24-hour ATM. Construction is expected to commence in April, and the bank is slated to open in October.

January 23, 2015

Newer Posts

Older Posts