Property Type

HOULIHAN ARRANGES $5.1M LOAN FOR RETAIL CENTER PURCHASE

by admin November 7, 2013

NORWALK, CONN. — Houlihan Parnes Realtors has arranged $5.1 million in permanent financing for a 25,000-square-foot retail center in Norwalk. The loan was used to acquire this property on behalf of a regional investor who completed a 1031 tax-deferred exchange. The five-year loan includes a fixed interest rate of 3.86 percent and a 25-year amortization schedule. The Rite Aid-anchored center also includes seven other local businesses. The lender is a New York-based commercial bank. Steve McCulloch of Houlihan Parnes Realtors arranged the financing on behalf of the borrower.

November 7, 2013

THREE TENANTS LEASE 97,770 SF AT WATERMILL CENTER IN METRO BOSTON

by admin November 7, 2013

WALTHAM, MASS. — New Boston Fund Inc. has leased approximately 97,770 square feet to three different tenants at Watermill Center, a 206,634-square-foot, Class A office building in suburban Boston. The firm leased 72,714 square feet to Global Partners LP, a publicly traded Fortune 200 company and provider of midstream logistics and marketing of energy products. Fireman Capital Partners, a private equity investment firm signed a lease for 17,565 square feet. BlueSnap, a global payment service provider, plans to occupy 7,491 square feet at the six-story property. Constructed in 1984, Watermill Center includes a full-service cafeteria and 703 parking spaces and is located in Waltham. Duncan Gratton, senior managing director and principal, and Kate McGovern, an associate at Cassidy Turley, represented New Boston Fund in the transactions. David Campbell, senior managing director and principal, and Ryan Romano, assistant vice president at Cassidy Turley, represented Global Partners LP. John Boyle, senior managing director and principal at Cassidy Turley, represented Blue Snap and Fireman Capital Partners.

November 7, 2013

Multifamily Texas

IPA BROKERS SALE OF 344-UNIT MULTIFAMILY PROPERTY IN SAN ANTONIO

by admin November 7, 2013

SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Coppermill Apartments, a 344-unit multifamily property in San Antonio. Located at 5827 Northwest Loop 410, the complex was built in 1980 and features one- and two-bedroom units in four floor plans. Community amenities include two swimming pools, picnic and barbecue areas and tennis and basketball courts. Will Balthrope and Scott Lamontagne of IPA and Moses Siller of Marcus & Millichap represented the seller, a private entity based in the Northeast. The buyer is a Las Vegas-based acquisition firm.

November 7, 2013

Multifamily Texas

BMC CAPITAL ARRANGES $4.7M REFINANCING FOR PEARLAND APARTMENTS

by admin November 7, 2013

PEARLAND, TEXAS — BMC Capital has arranged a $4.7 million refinancing loan for Salem Village Apartments, a 141-unit multifamily property in the Houston suburb of Pearland. The complex, which offers one-, two- and three-bedroom layouts, is located at 3510 E. Broadway St. Among the community amenities are two swimming pools, a sand volleyball court and three laundry facilities. Tony Talamas of BMC originated the five-year loan at a fixed interest rate of 4.75 percent and amortized over 30 years.

November 7, 2013

Office Texas

COLLIERS BROKERS SALE OF 26,230 SF OFFICE PROPERTY IN SUGAR LAND

by admin November 7, 2013

SUGAR LAND, TEXAS — Colliers International has brokered the sale of a 26,230-square-foot office building in Sugar Land, a southwest suburb of Houston. Hudson Products previously occupied the facility, which is located at 1307 Soldiers Field Drive. Marshall Clinkscales, Greg Cizik and Edward Edson of Colliers’ Houston office represented the buyer, Texas Dow Employees Credit Union, which will be the sole tenant of the property going forward. Kolbe Curtice and Corbin Janssen of Colliers’ Fort Bend office represented the seller, SLGD of Texas LLC.

November 7, 2013

Industrial Texas

CUSHMAN & WAKEFIELD ARRANGES 53,547 SF IRVING INDUSTRIAL LEASE

by admin November 7, 2013

IRVING, TEXAS — Cushman & Wakefield has arranged the lease of 53,547 square feet of industrial space in Irving for Monitronics International Inc., a provider of residential security equipment and services. The facility is located at 7880 Bent Branch Drive and originally constructed in 1996. Rick Hughes, Dean Collins and Mark Collins of Cushman & Wakefield represented the tenant in the negotiations, while Russ Johnson and Travis Gallivan with Peloton Commercial Real Estate represented the landlord, PS Business Park LP.

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

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

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

Healthcare Western

PAIR OF SOCAL MEDICAL OFFICE PORTFOLIOS RECEIVES $240M IN REFINANCING

by admin November 6, 2013

LOS ANGELES – A pair of Southern California medical office portfolios has received $240 million in refinancing. A five-building portfolio in the Golden Triangle district of Beverly Hills received a seven-year, $176.5 million loan. Itcontains medical office and retail properties. A three-building portfolio spread throughout Southern California received a five-year, $63.5 million loan. The Golden Triangle Collection contains a total of 233,980 square feet near Cedars-Sinai Medical Center and UCLA Medical Center. The latter portfolio contains a total of 194,253 square feet. The assets are located in Sherman Oaks, Santa Clarita and La Jolla. Financing was secured by Reid McGlamery and Michael Zietsman of Jones Lang LaSalle, who worked on behalf of G&L Realty. Both loans were supplied by U.S. Bank.

November 6, 2013

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