SYRACUSE, N.Y. — CNY Central has reported that Syracuse developer Ed Green is working with Hueber-Breuer Construction to convert the E.M. O'Donnell building into student housing that likely would open by fall 2014. The building, which was recently used as office space for gas and electrical company National Grid, would appeal to students attending classes at The Warehouse, Green told CNY Central. The Warehouse is a former furniture storage warehouse that was purchased by Syracuse University in 2005 and redesigned as classrooms for arts-related studies. The housing would accommodate about 150 students.
HOUSTON — Finial Group has arranged the sale of a 109,620-square-foot, crane-served manufacturing facility, located at 525 McCarty St. in Houston. Ross Thomas and Reed Vestal of Finial Group represented the seller, Elbi of America, in the transaction.
ANGLETON, TEXAS — Dougherty Mortgage LLC, an approved Fannie Mae DUS lender, has arranged a $4.4 million refinancing loan for Westport Apartments, a 152-unit multifamily affordable housing complex in Angleton. Dougherty Mortgage's Austin office arranged the seven-year, adjustable rate mortgage loan on behalf of the borrower, Westport Apartments LP.
GRAND PRAIRIE, TEXAS — Michigan-based Encore Floral Inc. is doubling the size of its current distribution center by expanding to the 22,663-square-foot ProLogis GSW 33, located at 1097 Ave. R in Grand Prairie. The company's current distribution center is located in Pinnacle Park in Dallas. Brian Pafford of Bradford Commercial Real Estate Services represented the tenant in the lease transaction. Denver-based ProLogis was self-represented by Jon Sorg. Encore Floral is a national fresh flower bouquet-maker for supermarkets.
SAN ANTONIO — Marcus & Millichap has received the exclusive listing for Bandera Commons, a 240-unit apartment complex in San Antonio. The property is being offered on a price to be determined by the market, according to Marcus & Millichap. Joe James, Kent Myers and Reynold Toepfer of Marcus & Millichap's Austin office are representing the seller, a private investor, in the transaction. The complex is located at 8120 Mainland Drive, adjacent to Leon Creek Greenway, a 15-mile recreation trail. The property is 97 percent occupied. The community was built in 2002 on an 11-acre parcel and includes a swimming pool, heated spa, business center, 24-hour fitness center and a laundry facility.
PHOENIX — The 214-unit Terrace Park Apartments in Phoenix has sold to B.H. Properties for $6.2 million. The community is located at 8130 W. Indian School Road. It is currently 94 percent leased. B.H. Properties was represented by Peter Katz of Marcus & Millichap.
AVONDALE, ARIZ. — Conn Appliances has signed a 10-year lease for 277,649 square feet at the Coldwater Depot Logistics Center in Avondale. The specialty retailer will be located within Phase I of the center. Conn was represented by CBRE’s Matthew Keener, Brian Ashby and Dan Calihan. The landlord, Trammell Crow Company and Clarion Partners, was represented by CBRE’s Rusty Kennedy and Pat Feeney.
COLORADO SPRINGS, COLO. — The 200-unit Palmer Park Apartments in Colorado Springs has sold to LocalConstruct for an undisclosed sum. The community is located at 1304 E San Miguel Street. It was 95 percent occupied at the time of closing. The seller, a local private real estate investor, was represented by ARA Colorado’s Kevin McKenna and Ken Greene.
MONTEREY PARK, CALIF. – Atlantic Times Square, a mixed-use property in Monterey Park, has received a $74-million refinance. The property is located on the southeast corner of North Atlantic Boulevard and West Hellmen Avenue. It contains 210 residential units atop 213,531 square feet of grade-level retail space. The retail component is currently 94 percent leased. Notable tenants include AMC Theatre and 24 Hour Fitness. The non-recourse loan was used to refinance a large portion of the property’s construction loan. The transaction was brokered by Mitch Paskover of Continental Funding Group.
OREM, UTAH – The 288-unit Pinnacle Canyon View Apartments in Orem has received $28.2 million in acquisition financing. The community is located at 1401 S. Sandhill Road just northwest of Provo. Financing was based on a 15-year term, with three years interest-only and a 30-year amortization schedule. Financing was arranged by Mark Grace of NorthMarq Capital through the firm’s affiliate AmeriSphere Multifamily Finance, LLC, a Fannie Mae DUS Lender.