PLANO, TEXAS — HFF has arranged financing for The Preserve at Arbor Hills in Plano. HFF worked on behalf of the borrower, Pure Multi-Family REIT LP, to secure the seven-year loan through Northwestern Mutual. Loan proceeds were used to acquire the property. The Preserve at Arbor Hills is located at 7001 W. Parker Road next to the Arbor Hills Nature Preserve and 21 miles north of downtown Dallas. The property is 97 percent leased and includes 330 one-, two- and three-bedroom units averaging 1,006 square feet. The complex was built in 1998. Amenities include a pool, spa, gym, picnic areas, business center and coffee bar. John Brownlee led the HFF team representing the borrower.
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HOUSTON — Boyd Commercial/CORFAC International has completed a trio of transactions for Jetco Delivery Inc., a trucking and logistics company. The transactions include the acquisition of a new property, sale of an existing property and lease of a third property. Bo Pettit and David Boyd of Boyd Commercial arranged the transactions for Jetco, which has been on an extended search for the right place to expand and consolidate their business. Upon completion, the company’s new headquarters, located at 3010 Aldine Bender drive in Houston, will have 30,000 square feet of office, warehouse and truck maintenance space.
COPPERAS COVE, TEXAS — Dougherty Mortgage LLC has arranged a $1.5 million Fannie Mae loan for the refinancing of Brookview Village, a 96-unit multifamily affordable housing property in Copperas Cove, near Fort Hood in central Texas. The complex offers one- and two-bedroom floor plans for seniors aged 55 or older. Dougherty’s Austin office arranged the 15-year loan with a 30-year amortization schedule for the borrower, Copperas Cove Brookview Village Apartments LP.
WASHINGTON, D.C. — The 217,070-square-foot office tower at 1800 K St. N.W. in Washington, D.C., is set to undergo a $40 million transformation. Completion is scheduled for the first quarter of 2016. The renovation will include a new floor-to-ceiling glass façade along both K and 18th streets, as well as upgrades to the elevators and mechanical systems. The lobby will also undergo a redesign, with the floor being moved to street grade. The transformation will also include the addition of a tenant-only fitness center and rooftop terrace. Scott Frankel, Andrew Felber, Mark Klug and Max Friedman of CBRE provide landlord representation and leasing services for the office tower. The design team includes DRI Development Services, Forrester Construction and VOA.
LARGO, FLA. — Dockside Investors VII will break ground this month on The Boulevard, an upscale, mid-rise apartment community in Largo, part of the Tampa Bay metro area. The property will be comprised of 260 units in one- to three-bedroom floorplans. The Boulevard’s amenity offerings will include a wellness center, yoga studio, resort-style outdoor pool, indoor lap pool, pet park, resident services gallery, concierge services and a gaming room. Balfour Beatty Communities has been awarded the management contract for the property. Balfour Beatty expects to begin pre-leasing the property in November with the apartments ready for move-in by spring 2015.
CONYERS, GA. — Cushman & Wakefield has brokered the sale of the Hillphoenix Global Warehouse, a 500,000-square-foot build-to-suit industrial facility at 2016 Gees Mill Road in Conyers, part of Atlanta’s 1-20 East industrial submarket. The property features 33-foot clear heights, cross-dock design, T-8 lighting, LED wall packs/pole lights and ESFR fire protection. Hillphoenix fully leases the property and recently signed a new 15-year lease at the facility, which serves as its global headquarters. New York-based Ladder Capital purchased the property from Ashley Capital for an undisclosed amount. Stewart Calhoun, David Meline, Samir Idris and Casey Masters of Cushman & Wakefield’s Atlanta office represented Ashley Capital in the transaction.
MIAMI LAKES, FLA. — Easton & Associates has arranged the sale of a 106,000-square-foot industrial property located at 5960 Miami Lakes Drive in the Miami Lakes Industrial Park. Safari Topia, a toy and figurine manufacturer, purchased the facility from 3B Associates, a real estate investment partnership. Tom Kimen of Easton & Associates represented 3B in the transaction.
ATLANTA — Cousins Properties has inked a two-floor, 51,066-square-foot lease with Dixon Hughes Goodman LLP (DHG) at One Ninety One Peachtree Tower in Atlanta. The CPA firm will move into its space on the 27th and 28th floors of the tower in early 2015. The new space will house DHG’s nearly 175 employees with room available for expansion. DHG has resided in downtown Atlanta’s Peachtree Center for nearly 30 years prior to its new lease agreement with Cousins.
NEW YORK CITY — SL Green Realty Corp. has entered into an agreement to acquire commercial condominiums units in the newly constructed office building located at 55 West 46th St. in Midtown Manhattan. SL Green will acquire 319,000 square feet of vacant office space on floors 22 to 34 and a retail store on 46th Street, as well as the building’s parking garage and fitness center. As part of the sales agreement, the seller has the option to include the second floor in the transaction, which consists of 28,000 square feet, for an additional purchase price of $20 million. The transaction, which is subject to customary closing conditions, is expected to close before the end of the year. Designed by Skidmore Owings & Merrill and completed in 2013, the glass-and-steel structure features efficient column-free space and floor-to-ceiling windows on all office floors. Additionally, the property includes on-site parking, a fitness center and bike storage.
NEW YORK CITY — New York City-based Savanna has completed the sale of 80 Broad Street, a 423,000-square-foot office building in New York’s Financial District. Broad Street Development acquired the property for an undisclosed price. After acquiring the property in 2011, Savanna completed an extensive capital improvement program including a lobby renovation, façade upgrade, modernized elevators and upgrades to the common area bathrooms and corridors. Adam Spies, Douglas Harmon, Joshua King and Adam Doneger of Eastdil Secured represented Savanna in the sale. Attorneys Leo Leyva, Jordan Metzger and Tara Ryan of Cole, Schotz, Meisel, Forman & Leonard P.A. served as the seller’s counsel in the transaction.