GREENWOOD VILLAGE, COLO. — Harlequin Plaza, a 324,833-square-foot suburban office building in Greenwood Village, has received a $28-million refinancing. The building is located at 7600 E. Orchard Road, near the Interstate 225 and 25 interchange, just southeast of Downtown Denver. The two-building plaza was renovated in 2013. It is 90 percent leased. Harlequin’s notable tenants include Dex Media, Cherry Creek Mortgage and BELLCO Credit Union, as well as a mix of other finance, banking, media, engineering and medical firms. The loan was arranged for Unico by HFF’s Tom Wilson, Eric Tupler, Erica Christensen and Kristian Lichtenfels.
Property Type
LOS ANGELES – A five-property retail portfolio that is based in Downtown Los Angeles’ Fashion District has received a $22-million recapitalization. The borrower was a locally based real estate investment consortium. Financing was composed of individual loans ranging in size from $1.1 million to $8.35 million. The loans were funded by three different off-shore lenders. The second-trust deed mortgage loan had a three-year term at 4.5 percent. The remaining permanent loans each featured seven-year terms, with fixed interest rates of 4 percent for five years. The loans were secured by Quantum Capital Partners. The team was led by Jonathan Hakakha. Quantum was tasked with finding and structuring the appropriate debt on each asset that would best meet the individual partnerships’ specific requirements.
SAN DIEGO – Silver Oak Apartments Venture LLC has acquired the 133-unit Silver Oaks apartment complex in the San Diego submarket of La Mesa for $20 million. The community is located at 7400 Parkway Drive, near Interstate 8. Employers in the area include Sharp Grossmont Hospital, Grossmont-Cuyamaca Community College, San Diego State University and Aztec Shops. The buyer is an affiliate of Pacific Urban Residential. The transaction was executed by Steve Huffman and Shane Shafer of Hendricks-Berkadia.
CASA GRANDE, ARIZ. — Kuehne + Nagel has signed a five-year lease for 201,666 square feet of warehouse and distribution space in Casa Grande. The facility is located at 2592 E. Hanna Road, just south of Chandler. The global logistics company’s new space sits adjacent to Interstate 10. The landlord, Clarion Partners, was represented by JLL’s Pat Harlan, Steve Sayre and Kyle Westfall.
ATLANTA — Inland American Communities Group Inc. has broken ground on University House Midtown, a student housing project located adjacent to the Georgia Institute of Technology (Georgia Tech) in Atlanta. The 20-story, 268-unit project will be located at 930 Spring St. at the corner of Spring and 8th streets. The property will feature more than 10,000 square feet of retail space. Pre-leasing will begin in the summer with opening scheduled for August 2015. The 700-bed property will feature a resort-style pool on an elevated terrace, parking garage, business center, study rooms and fitness centers and a lounge on the top floor, which offers views of Midtown, downtown Atlanta and the Georgia Tech campus. The project team includes architect Niles Bolton Associates, civil engineer Eberly & Associates and general contractor DPR Hardin.
RALEIGH, N.C. — Dominion Realty Partners LLC will partner with Prudential Real Estate Investors to develop Wade III, a 105,000-square-foot, Class A office building in Raleigh’s PNC Arena district. Dominion is set to break ground on the four-story office building in mid-summer, with completion slated for summer 2015. The office building is designed to achieve LEED Gold certification. Features of Wade III include card access control systems, an outdoor plaza courtyard, underground parking, park amenities, green building efficiencies and an on-site restaurant. The project team includes architect Rule Joy Trammell + Rubio, general contractor Choate Construction, civil engineer Piedmont Land Design and leasing agent Avison Young.
DECATUR, GA. — Lennar Commercial Investors LLC and Sterling Organization have teamed up to acquire North DeKalb Mall, a 622,297-square-foot shopping mall in the northeast Atlanta suburb of Decatur. Lennar and Sterling, along with developer Hendon Properties, plan to convert the enclosed portion of the mall into an open-air concept. Sterling will manage North DeKalb Mall. The current tenants of North DeKalb Mall include AMC Theatres, Burlington Coat Factory, Macy’s, Marshalls and Ross Dress for Less.
WASHINGTON, D.C. — Roadside Development LLC and Dantes Partners have opened Hodge on 7th, a 90-unit, $28 million seniors housing apartment community located in the City Market at O project in Washington, D.C.’s Shaw neighborhood. The City Market at O is 1 million-square-foot urban infill project that features 90,000 square feet of retail, 650 multifamily units, a 182-room Cambria Suites Hotel that opened last week and a 500-car parking garage. The new LEED Silver-certified Hodge on 7th is available for senior citizens older than 55 years old and earning 60 percent or less of the area median income. The project is one of four residential buildings coming to the Shaw neighborhood. According to Roadside Development, the new seniors housing community employs more than 100 people.
GAITHERSBURG, MD. — JBGR Retail has signed two leases for restaurants in Downtown Crown, a 26-acre neighborhood in the Gaithersburg master-planned community of Crown. Matchbox Food Group will open a Ted’s Bulletin, and Bottleneck Management will open an Old Town Pour House. With the two new leases, Downtown Crown now has six restaurants new to Montgomery County: Coastal Flats, Venti Tre Modern Italian, Asian Nine and &pizza are the other four restaurants. Ted’s Bulletin and Old Town Pour House are set to open later this fall.
LAKEVILLE, MINN. — Dougherty Mortgage has arranged a $21.6 million loan for the refinancing of Southfork Village Townhomes. The 272-unit market rate townhome property is located in Lakeville approximately 26 miles south of Minneapolis. Dougherty arranged the 35-year term HUD loan for Southfork Apartments LLC with a 35-year amortization schedule. The property features one-, two- and three-bedroom units with fully equipped kitchens, walk-in closets and carpeting. The community also features a clubhouse, picnic grilling areas and a pool. The townhomes were built in two phases in 1988 and 1990.