WIXOM, MICH. — West Tech Development has acquired a 31,152-square-foot industrial property at 46925 W. Road in Wixom. Bruce Morrison and Steve Gordon of Signature Associates represented the seller, Bank of America, in the transaction. Jim Montgomery, also of Signature Associates, represented the buyer.
BOSTON — Clarion Partners has acquired six office properties in Boston's Seaport District for $129.3 million. The 407,500-square-foot Fort Point portfolio is 96 percent occupied. The seller was a joint venture between Angelo, Gordon & Co. and National Development. The sale includes a 94,314-square-foot property at 33-41 Farnsworth St.; 34 and 44 Farnsworth St., featuring 24,387 and 93,824 square feet, respectively; 332 and 374 Congress St., which includes 34,412 and 96,236 square feet, respectively; and the 64,204-square-foot 263 Summer St. Ben Sayles and Coleman Benedict led the HFF team that represented the seller in the transaction.
EDISON, N.J. — National Health Investors has sold its 148-bed, Edison senior living campus to its current tenant, Sunrise Senior Living, for $23 million. The Edison property is located in close proximity to the Garden State Parkway and the New Jersey Turnpike.
PRINCETON, N.J. — Dallas-based Ashford Hospitality Inc. and its joint venture partner have received a $112.6 million loan for two hotel properties: the Westin Hotel in Princeton and the Renaissance Hotel in Nashville. The properties are part of the company's Highland Hospitality portfolio, in which Ashford has a 71.7 percent ownership interest. The five-year loans have a fixed interest rate of 4.4 percent and replace two existing loans, which had a combined balance of $76.8 million. The deal completes the refinancing of three CIGNA loans in the portfolio.
BRIDGEPORT, CONN. — Houlihan-Parnes Realtors has arranged a $3.7 million loan for the acquisition of eight garden-style apartment buildings in Bridgeport. The borrower acquired the assets from U.S. Bank for $5 million. The properties total 160 units and include laundry facilities and on-site parking. Jerry Houlihan of Houlihan-Parnes arranged the three-year loan, which amortizes over 30 years, through a New Jersey-based bank.
KUTZTOWN, PA. — A joint venture between Woodmont Industrial Partners and AEW Capital Management has acquired a 385,000-square-foot industrial property in Kutztown for $21.3 million. The distribution center, located at 9747 Commerce Circle, is fully leased to Teva Pharmaceutical USA Inc., Hearth & Home Technologies and Palram Industries. The property is located within the 250-acre Arcadia West Industrial Park. Paul Torosian, John Plower and Gary Gabriel of Cushman & Wakefield represented the seller, a joint venture between Endurance Real Estate Group and Thackeray Partners, in the transaction.
HOUSTON — Multi-Employer Property Trust (MEPT) has purchased the 134,000-square-foot Parkway Village, a grocery-anchored shopping center in Houston's Energy Corridor. Kroger anchors the center, which is currently 96 percent leased to 29 national, regional and local retailers. MEPT is a commingled real estate equity fund advised by Bentall Kennedy. The Parkway Village acquisition was brokered by HFF.
DALLAS — EastGroup Properties has acquired five multi-tenanted warehouse/distribution centers totaling 722,000 square feet in the Valwood Industrial Park in Dallas. The total investment, including first-year capital improvements and lease-up costs, is $41.55 million. The properties are 95 percent leased out to 15 customers. EastGroup also purchased 4.1 acres of adjacent land for future development. The properties are anticipated to generate an annualized 6.3 percent cash yield.
SAN ANTONIO — Crossbeam Concierge, a Bethesda, Md.-based real estate investment and development firm, has delivered the 270-unit Villas at Mira Loma, a Class A multifamily community located in San Antonio's Live Oak submarket at 15400 Lookout Road. The development is Crossbeam Concierge's first ground-up development project since 2007. Crossbeam Concierge purchased the development site from Bryan-based Godfrey Residential Group, which developed the community. The community features a resort-like Water Plaza with a pool and sundeck, a fitness center and clubhouse. Dallas-based BGO Architects designed the community and Comerica Bank provided construction financing.
ANAHEIM, CALIF. — TSG-Platinum, L.P. has received a $9.9-million loan to acquire and re-entitle 4.3 acres of infill land in Anaheim’s Platinum Triangle. The site contains two separate but contiguous parcels that were entitled in 2008. The non-recourse loan features a two-year term, a fixed interest rate and one year-long extension option. The loan represents 88 percent of the site’s purchase price. The funds were provided by Lucent Capital.TSG is an affiliate of the Shopoff Group.