Property Type

HFF CLOSES SALE-LEASEBACK OF TWO RETAIL CENTERS IN THE NORTHEAST

by admin November 8, 2013

FLORHAM PARK, N.J. — HFF has closed a sale-leaseback transaction involving two grocery-anchored retail centers totaling 220,431 square feet in New Jersey and suburban Philadelphia. HFF marketed the properties as part of a nine-property portfolio owned by The Great Atlantic & Pacific Tea Co. (A&P) and its affiliates. MCB Real Estate LLC, in conjunction with Alex Brown Realty Inc., purchased the two properties. A&P will continue to operate the Pathmark grocery stores at each of the sites. HFF closed the sale-leaseback of four freestanding Pathmark stores from this portfolio earlier this year and has sold more than 15 A&P/Pathmark-anchored supermarket centers in New Jersey and the surrounding markets for various owners during the last two years. The HFF investment sales team representing the seller was led by Jose Cruz and Andrew Scandalios, senior managing directors; Kevin O’Hearn and Jeffrey Julien, managing directors; as well as associate Marc Duval.

November 8, 2013

HFF SECURES $54.2 MILLION FOR SAN ANTONIO RETAIL REDEVELOPMENT

by admin November 8, 2013

SAN ANTONIO — HFF has arranged $54.2 million in construction financing for the redevelopment of the historic Joske’s Building at RiverCenter Mall, a retail complex along San Antonio’s River Walk. The property, constructed in 1887 as the original location of Joske’s Department Store, is located at the corner of Alamo and Commerce streets, overlooking the historic Alamo Plaza in San Antonio’s central business district. Joske’s occupied the space for 100 years, after which Dillard’s occupied the space until 2008. The redevelopment will house retail, restaurant and entertainment tenants. TreyMorsbach, John Pelusi and Cullen Aderhold led the HFF team that represented the borrower, Ashkenazy Acquisitions Corp.

November 8, 2013

Multifamily Texas

STEEL CASTLE CAPITAL BUYS 296-UNIT APARTMENT COMPLEX IN SAN ANTONIO

by admin November 8, 2013

SAN ANTONIO — Steel Castle Capital LLC has purchased Sevona Westover Hills, a 296-unit multifamily complex in San Antonio. Located near the intersection of Highway 151 and Loop 1604 and in close proximity to Christus Santa Rose Westover Medical Center, the property includes a fitness center, swimming pool and 5,000-square-foot clubhouse. The apartments feature private balconies, 9-foot ceilings, crown molding, walk-in closets and ceiling fans. Steel Castle Capital is based in Anaheim, Calif. and Philadelphia.

November 8, 2013

Retail Texas

SKYWALKER PURCHASES 41,680 SF RETAIL BUILDING IN ARLINGTON

by admin November 8, 2013

ARLINGTON, TEXAS — SkyWalker Property Partners has acquired a 41,680-square-foot retail property in Arlington’s entertainment district. The one-story building, previously used as an antique mart, has been vacant for nearly a decade. Iskander & Sons Inc., based in the United Arab Emirates, sold the property, which is located at 1715 E. Lamar Blvd and was originally constructed in 1984. SkyWalker purchased the asset on behalf of Hangover Opportunity Fund LLC. Mike Nix of ReMax Associates Commercial represented Iskander & Sons.

November 8, 2013

Office Western

MWEST PROPERTIES ACQUIRES SILICON VALLEY OFFICE PORTFOLIO

by admin November 8, 2013

SAN JOSE, CALIF. — MWest Properties has acquired a three-campus portfolio in Silicon Valley for a reported $200 million. The acquisition includes 12 R&D and corporate office buildings that total 825,000 square feet throughout North San Jose. Notable tenants at the campuses include Boston Scientific, the North American headquarters of Taiwan Semiconductor Manufacturing Company and the corporate headquarters of Tessera. MWest Properties is a joint venture backed by DivcoWest, Ivanhoé Cambridge and TPG Real Estate.

November 8, 2013

Multifamily Western

EAGLE CREST APARTMENTS IN LAS VEGAS CHANGES HANDS

by admin November 8, 2013

LAS VEGAS – The Bascom Group has purchased the 624-unit Eagle Crest Apartments in Las Vegas for an undisclosed sum. The Class A community is located at 5850 Sky Pointe Drive in the northwest part of the city. It was built in two phases between 1996 and 1997. This is Bascom’s 11th multifamily acquisition so far this year, and its second in Las Vegas.

November 8, 2013

Retail Western

SHERWOOD MARKET CENTER NEAR PORTLAND SELLS FOR $22.2M

by admin November 8, 2013

SHERWOOD, ORE. — Merlone Geier has purchased Sherwood Market Center, a 124,259-square-foot retail center in Sherwood, for $22.2 million. The grocery-anchored center is located at 16030 SW Tualatin-Sherwood Road just southwest of Portland. It was built in 1996 on 14 acres. Notable tenants at the center include Albertson’s, Chase Bank, Burger King, UPS and GNC. This was the largest retail transaction in Oregon’s Washington County so far this year, according to Scott Frank, Michael Horwitz and Kevin Adatto of Capital Pacific. The trio represented both the buyer and the seller, Regency Centers, in this transaction.

November 8, 2013

Hospitality Western

CHATHAM LODGING ACQUIRES RESIDENCE INN IN DOWNTOWN BELLEVUE FOR $71.8M

by admin November 7, 2013

BELLEVUE, WASH. — Chatham Lodging Trust has acquired the 231-room Residence Inn by Marriott Seattle Bellevue/Downtown for $71.8 million. The hotel is located along I-405 near the Microsoft, Amazon, Expedia, T-Mobile and AT&T campuses. It is the only extended-stay asset in downtown Bellevue. The hotel is managed by Island Hospitality Management.

November 7, 2013

Office Western

BUCHANAN BUYS 10-BUILDING PHOENIX PORTFOLIO FOR $52.6M

by admin November 7, 2013

PHOENIX — Buchanan Street Partners has acquired a 10-building portfolio based in Phoenix for $52.6 million. The portfolio includes a mix of office, industrial, office flex and retail properties. The 446,000-square-foot portfolio was acquired in four separate sales transactions. It includes an industrial property in Avondale, as well as three assets within the master-planned Cotton Center in Phoenix. The portfolio was 74 percent leased at the time of the sale. Buchanan represented itself in this transaction, while the unnamed seller was represented by Eastdil Secured.

November 7, 2013

Multifamily Western

PIAZZA D’ORO APARTMENTS IN OCEANSIDE SELLS FOR $81M

by admin November 7, 2013

OCEANSIDE, CALIF. – TruAmerica Multifamily has acquired the 221-unit Piazza D’Oro apartment complex in Oceanside for $81 million. The community is located at 3402 Piazza De Oro Way. It also includes 17,000 square feet of office space. This is TruAmerica’s first acquisition. The multifamily investment firm is led by Robert E. Hart and the Guardian Life Insurance Company of America. The seller, Piazza D’Oro, LLC, an affiliate of the ConAm Group, was represented by Kevin Mulhern, Dixie Hall, Rachel Parsons and Tyler Anderson of the CBRE Multi-Housing Investment Properties group. Financing was arranged by Bill Chiles and Scott Peterson of the CBRE Debt & Equity Finance Group.

November 7, 2013

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