COMFORT, TEXAS — Dougherty Mortgage LLC has arranged a $2.6 million loan for the refinancing of Guadalupe Crossing, a 68-unit multifamily property in Comfort, a city about 45 miles northwest of San Antonio. The loan includes a term of 10 years. Located at 580 Sunflower Lane, the community offers one- to three-bedroom apartments, as well as amenities such as a swimming pool, clubhouse, fitness center and laundry facility. The Dallas office of Dougherty Mortgage secured the loan on behalf of the borrower, Comfort Guadalupe Crossing Apartments LP.
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OKLAHOMA CITY — Quantum Real Estate Advisors Inc. has brokered the $1.4 million sale of an 8,000-square-foot retail facility occupied by Family Dollar in Oklahoma City. The tenant had a full 10 years remaining on an initial 10-year net lease at the time of sale. Jordan Kaufman of Quantum represented the seller, a Houston-based developer, in the transaction. Chad Firsel, also of Quantum, represented the buyer, a California-based private investment fund.
PLANO, TEXAS — Bright Realty has arranged a 26,988-square-foot office lease in Plano for banking services provider HP Locate LLC. The tenant will occupy an entire floor at the Lincoln Legacy One building, which is located at 6860 N. Dallas Parkway within the larger Legacy Town Center complex. Completed in 2006, Lincoln Legacy One totals 207,834 rentable square feet. Shawn Hall of Bright Realty represented HP Locate in the negotiations.
ALISO VIEJO, CALIF. – A 25,960-square-foot property in Aliso Viejo that is triple-net leased to PetSmart has sold to RPM Catalina & Tanque Verde LLC for $8.1 million. The building is located at 26761 Aliso Creek Road within the Aliso Viejo Town Center. RPM Catalina was represented by Dennis Vaccaro of Faris Lee Investments. Vaccaro also represented the seller, a local partnership that had owned the property since it was constructed, along with Nicholas Coo.
PHOENIX – A 58,120-square-foot building in Phoenix that is fully leased to Universal Technical Institute has sold to Hyperion Fund L.P. for $6.3 million. The Class B building is located at 2844 West Deer Valley Road and 2837 West Louise Drive in the Deer Valley submarket. The new owner plans to hold the property and maintain the current tenant, which provides technical training for auto mechanics, marine technicians and NASCAR techs. Hyperion was represented by Eric Wichterman and Mike Coove of Cassidy Turley. The seller was City Park, LLC, a company formed by Cutler Commercial.
SALINAS, CALIF. – A 22,500-square-foot retail building in Salinas that is occupied by CVS has sold to Robert Miles Living Trust for $5.2 million. The building is located at 662 E. Boronda. The trust plans to hold the property as an investment. It was represented by Matt Weaver, Al Apuzzo and Patrick Miller of Lee & Associates North County San Diego. The seller, LD&B Investment LLC, was represented by Brian Bethea of NAI Capital.
SAN DIEGO – The seven-unit Casa Rosada Apartments in the San Diego submarket of La Jolla has sold to La Jolla Casa Rosada LLC for $2.2 million. The community is located at 6241-6253 La Jolla Blvd. in the city’s Upper Hermosa neighborhood. The LLC was represented by Gary B. Urtiaga of Apartment Realty Group. The seller, the Estate of Eileen Gambs, was represented by Robert Vallera and Matt Kennedy of Voit’s San Diego office.
MIAMI — ZOM, a luxury multifamily real estate developer, has purchased a parking lot site at 80 S.W. 8th St. in Miami’s Brickell neighborhood for approximately $16.8 million. ZOM plans to develop a 46-story, 420-unit luxury high-rise apartment tower at the site. The property will be located on the block between the $1.05 billion Brickell CityCentre project and Mary Brickell Village. Construction on the project will begin late in the fourth quarter of 2014.
MIAMI — CBRE has arranged a $47 million bridge loan to refinance Brickell City Tower, a Class A, 33-story office tower in Miami’s Brickell neighborhood. Charles Foschini, Christopher Apone and Christian Lee of CBRE arranged the loan through Ares of Chicago on behalf of the borrower, 80 SW 8th Street LLC, a joint venture between Banyan Street Capital, Independencia, Silverpeak Real Estate Partners and Crocker Partners. The purpose of the loan was to release value back to ownership following its recent sale of a portion of the site to ZOM, which plans to built a 46-story luxury high-rise apartment tower.
CHATTANOOGA, TENN. — Steadfast Income REIT Inc. has purchased Reserve at Creekside Village, a 192-unit apartment community in Chattanooga. The apartment property, built in 2004, was 91 percent occupied at the time of the sale. The one-, two- and three-bedroom units average 1,100 square feet and rent for an average $965 per month. The community’s amenity package includes a fitness center, swimming pool, hot tub, dog park, clubhouse and barbecue grilling areas. The asset is Steadfast’s first acquisition in Chattanooga and its fourth in Tennessee. The transaction, along with the REIT’s purchase of an apartment community in Dallas, totaled $42 million.