AUSTIN, TEXAS — MIG Real Estate has acquired Adagio Swenson Farms, a 336-unit multifamily community in the Far North submarket of Austin. The complex offers one- and two-bedroom floor plans averaging 1,041 square feet, as well as amenities such as a swimming pool, barbecue area, fitness center and clubhouse. Located at 413 Swenson Farms Blvd., the property is 15 miles from downtown Austin and in close proximity to the city’s technology corridor and attractions including Lake Pflugerville, Gilleland Creek Park and Blackhawk Golf Club. Pat Jones of ARA Real Estate Investment Services represented the undisclosed seller in the transaction, while Newport Beach, Calif.-based MIG Real Estate represented itself. National operator Alliance Residential will manage the property going forward.
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HOUSTON — CBRE has brokered the sale of The Pines Business Park, a 139,330-square-foot industrial property in Houston. Constructed in 2009, the three-building, Class A complex features 20- to 24-foot clear heights and was fully leased to multiple tenants at the time of the sale. The asset, located on Budde Road, is in close proximity to Interstate 45 and the future ExxonMobil campus. Jack Fraker, Josh McArtor, Jonathan Bryan, Heather McClain Venegoni, Tom Lynch and Paul Segreto of CBRE, along with Kevin Wyatt of Lincoln Property Co., represented the seller, a private fund advised by Crow Holdings Capital Partners LLC and Lincoln Property Co.
HOUSTON — NAI Houston has brokered the sale of a 27,160-square-foot industrial building in Houston. The warehouse/distribution facility features three grade-level doors and approximately 2,000 square feet of office and showroom space. Located at 2412 Texas Ave., the asset is in the Downtown Industrial submarket. John Ferruzzo and Chris Kugle of NAI Houston represented the seller, Tool Mart Inc. Tom Dosch and Tim Dosch of Apartment Realty Advisors represented the buyer, JLB EADO LP.
LOS ANGELES — Wilshire Robertson Plaza, a 119,421-square-foot office building in Beverly Hills, has received $18 million in refinancing. The plaza is located at 8750 Wilshire Blvd. Notable tenants include Alloy Digital, Mad Old Nut Productions and Radnet Sub, Inc. The loan features a nine-year term and a 25-year amortization schedule. Financing was arranged by Robert R. Hervey of NorthMarq Capital’s Los Angeles office through the firm’s relationship with a correspondent life company.
SEATTLE – A 19,440-square-foot development site in Seattle has sold to British Columbia Investment Management Corporation (bcIMC) for $17.7 million. The site is located at 2000 Third Ave. near the city’s Belltown neighborhood. The buyer plans to build a 400-foot, high-rise apartment tower with ground-floor retail on the site. The transaction was executed by David Young, Corey Marx and Seth Heikkila of Jones Lang LaSalle’s Capital Markets.
TEMPE, ARIZ. — Tempe Commerce Center, a 177,848-square-foot industrial complex in Tempe, has sold to Presson Corporation for $11.8 million. The nine-building center is located at 6105-6125 S. Ash, 124-148 W. Orion, 125 W. Gemini and 6100-6202 S. Maple. It was built in 1982. The seller was Kieckhefer Properties. The transaction was executed by Bob Buckley, Steve Lindley and Tracy Cartledge of Cassidy Turley’s Capital Markets Group.
FORT LAUDERDALE, FLA. — Q Fort Lauderdale LLC, a member of the Qvale Automotive Group, has purchased two land parcels in Fort Lauderdale for approximately $7.9 million. The city of Fort Lauderdale has recently approved plans for a new $20 million Audi dealership and service center to be developed on the parcels, located at 1200 N. Federal Highway and 1400 Progresso Drive. The dealership will span 159,000 square feet and will feature a two-story glass showroom and a delivery/service center. The development will break ground in March and will employ approximately 90 people upon its opening, which is slated for December. Steve Hyatt of Berger Commercial Realty and Bill Rotella of The Rotella Group represented Q Fort Lauderdale in the land acquisitions. James Fazio sold the 1200 N. Federal Highway land parcel, and 13th Street Progresso and King Broward Holdings sold the 1400 Progresso Drive land parcel.
DURHAM, N.C. — KeyBank Real Estate Capital has closed a $28 million Fannie Mae loan for Century Trinity Estates, a 270-unit, garden-style apartment complex located in Durham. Jane Harrison and Joe Fadus of KeyBank arranged the 10-year, fixed-rate loan on behalf of the borrower, Centennial Holding Co.
CHARLOTTE, N.C. — NorthMarq Capital has arranged $10.7 million in refinancing for Sunset Village Apartments and Forestbrook Apartments, two apartment communities located in Charlotte. The apartment properties total 360 units. Bill Matone of NorthMarq’s Charlotte office arranged the 10-year, Freddie Mac loan with a 20-year amortization schedule.
JACKSON, MISS. — Multi Housing Advisors (MHA) has arranged the sales of two Jackson apartment communities totaling 316 units. The properties include the 296-unit Audubon Grove and the 20-unit River Bluff. Professional Equity Management purchased Audubon Grove, a Class C community built in 1974, for an undisclosed price. Belhaven Residential purchased River Bluff, a Class B community near Belhaven University, for an undisclosed price. Brian Savage and Jimmy Adams of MHA’s Birmingham, Ala., office represented the seller in both transactions.