Property Type

The-Links-on-PGA-Parkway-Frisco

FRISCO, TEXAS — BayBridge Real Estate Capital, a New York City-based capital markets advisory firm, has arranged a $138.3 million loan for the refinancing of The Links on PGA Parkway, an apartment community located north of Dallas in Frisco. The Links on PGA Parkway is a four-phase development, and the first two phases totaling 690 units were completed in December 2021 and October 2023. Phases III and IV will total 620 units. Residences come in one-, two- and three-bedroom floor plans. Amenities include two clubhouses, two pools and two fitness centers, as well as a golf simulator, complimentary yoga classes and lessons from a local golf professional. The borrower is Dallas-based Carbon Cos. Jay Miller, Spencer Miller, A.J. Felberbaum, Gabe Stolar and Noah Rothman of BayBridge arranged the debt through MF1 Capital.

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Avera-Baywood

HOUSTON — Locally based firm Avera Cos. will develop a 401,154-square-foot industrial project in southeast Houston. Avera Baywood will be a front-load building that will be situated on a 34-acre site west of the Houston Ship Channel. Building features will include 36-foot clear heights, oversized truck courts and an ESFR sprinkler system. Completion of the project, which will be Avera’s 12th development in the southeast Houston submarket, is slated for late 2025.

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FRISCO, TEXAS — Locally based seniors housing operator Mustang Creek Enterprises has purchased Mustang Creek Estates of Frisco, an 80-unit facility that is located on a six-acre site at 1200 W. Main St. on the northern outskirts of Dallas. Mustang Creek has operated the six-building property, which offers assisted living and memory care services, since it opened in 2014. Mustang Creek financed the purchase through Community National Bank. The seller and sales price were not disclosed.

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ARLINGTON, TEXAS — NAI Robert Lynn has negotiated a 36,450-square-foot industrial lease in Arlington. According to LoopNet Inc., the property at 634-640 107th St. was built in 1974, renovated in 2018 and totals 72,900 square feet. Joe McLiney of NAI Robert Lynn represented the tenant, custom metal sheet fabricator Send Cut Send, in the lease negotiations. Michael Stanzel, also with NAI Robert Lynn, represented the landlord, an entity doing business as SL Project Texas LP.

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HOUSTON — Marquette Cos., an Illinois-based multifamily developer, has received approval from the Houston Planning Commission for a 20,000-square-foot commercial project that will be located along the 2600 block of Keene Street near White Oak Music Hall. The new building is slated for a 2025 delivery and will be marketed to bars, restaurants, coffee shops and other retail users. The single-story building will be located across the street from Tempo at White Oak, Marquette’s 304-unit multifamily project that is nearing completion.

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28-40-West-23rd Street

NEW YORK CITY — Colliers has secured a 132,000-square-foot office lease expansion and extension in Manhattan’s Flatiron District. The tenant, automated financing platform Ramp, is taking an additional 66,000 square feet of space across the entire fourth floor at 28-40 West 23rd Street, a two-building, 561,000-square-foot complex. Ramp is simultaneously extending its lease of the same square footage across the entire second floor. Mac Roos, Andrew Roos, Michael Cohen and Jessica Verdi of Colliers represented the landlord, Williams Equities, in the lease negotiations. Michael Mathias and R.J. Johns of Cushman & Wakefield represented the tenant.

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Groton-3-Portfolio

GROTON, CONN. — Regional brokerage firm Northeast Private Client Group (NECPG) has negotiated the $9.2 million sale of a portfolio of three multifamily properties totaling 68 units in Groton, located in southern coastal Connecticut. The portfolio comprises a 20-unit building known as Thamesport Apartments, as well as a 24-unit building at 46 Hynes Ave. and a 24-unit complex at 183-221 Brandegee Ave. Brad Balletto and Taylor Perun of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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NEW YORK CITY — New York City-based ERG Commercial Real Estate has arranged a $4.6 million loan for the refinancing of 150 West 36th Street, a 13,000-square-foot office building in Midtown Manhattan’s Garment District. The five-story building includes ground-floor retail space. Mary Guarino of ERG Commercial originated the loan, which was structured with a five-year term and multiple extension options, through an undisclosed local bank. The borrower was also not disclosed.

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NEW YORK CITY — Labor union SEIU Local 32BJ has signed a 20,778-square-foot office lease at 620 Avenue of the Americas in Midtown Manhattan. The space is located on the ground floor of the building, which was originally constructed in 1896. Mark Weiss of Cushman and Wakefield represented the union, which has more than 175,000 members, in the lease negotiations. Daniel Birney represented the landlord, RXR, on an internal basis.

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Traer-Creek-Apts-Avon-CO

AVON, COLO. — JLL Capital Markets has secured $73 million in construction financing from Bank OZK for Traer Creek Apartments, a Class A multifamily development at 5471 E. Beaver Creek Blvd. in Avon. The borrowers are Prime West and Columnar Investments. Slated for completion in 2026, Traer Creek Apartments will feature 242 studio, one-, two- and three-bedroom floor plans with upmarket finishes, central conditioning and mountain views. Community amenities will include a fitness center, movement center and outdoor spa. The property’s four-story, three-building layout allows for open green areas and 9,200 square feet of communal facilities. Leon McBroom and Will Haass of JLL’s Debt Advisory team represented the borrower in the financing.

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