Property Type

JV TO BUILD $38.5M FORT HOOD PROJECT

by admin September 21, 2012

FORT HOOD — The U.S. Army Corps of Engineers has awarded a design-build contract to a joint venture of Satterfield & Pontikes Construction and San Antonio-based AMG Contractors to build Operations Readiness Training Complex facilites at Fort Hood. The $38.5 million project includes a 11,237-square-foot battalion headquarters building, a 22,579-square-foot officers quarters building and two 61,116-square-foot barracks. STV will provide architectural and engineering services, and the Fort Worth District of the U.S. Army Corps of Engineers will administer the contract. The project is slated for a summer 2014 completion.

September 21, 2012

STEEL CASTLE ACQUIRES CARRINGTON PARK APTS.

by admin September 21, 2012

HOUSTON — Orange County, Calif.-based Steel Castle Capital has purchased the 390-unit Carrington Park Apartments, a Class A multifamily property located in Houston's Energy Corridor. The complex is 95 percent occupied and features a business center, 24-hour emergency maintenance, security gates, clubhouse, billiards room, fitness center, barbecue grills and a swimming pool. Steel Castle acquired the property through Steel Castle Property Partners, an investment vehicle. Carrington Park is the company's second Houston acquisition.

September 21, 2012

Industrial Texas

PROLOGIS SELLS 110,000 SF INDUSTRIAL PROPERTY

by admin September 21, 2012

GRAND PRAIRIE — Prologis has sold a 110,000-square-foot industrial property, located at 1414 N. Carrier Parkway in Grand Prairie. Cannon Green and Bates Arnot of Stream Realty Partners represented the seller in the transaction. The buyer was Sigma Family Limited Partnership.

September 21, 2012

Office Texas

NORTHMARQ ARRANGES LOAN FOR PINES CROSSING

by admin September 21, 2012

THE WOODLANDS — NorthMarq Capital has secured first mortgage acquisition financing for the 19,663-square-foot Pines Crossing Office Building, located in The Woodlands. Warren Hitchcock of NorthMarq's Houston office arranged the 10-year loan with a 25-year amortization schedule through a life insurance company.

September 21, 2012

Office Western

CENTERPOINT CORPORATE PARK IN KENT SELLS FOR $46.25M

by admin September 21, 2012

KENT, WASH. — CenterPoint Corporate Park in Kent has sold to Fountainhead Northwest for $46.25 million. The 435,937-square-foot office campus is located on 72nd Avenue South. Mike George and Nick Fletcher of NAI Puget Sound Properties represented the seller, a joint venture between AEW and Unico Properties, in the transaction.

September 21, 2012

Multifamily Western

BAYSIDE COMMUNITIES BUYS AZURE PARK APARTMENTS IN SACRAMENTO

by admin September 21, 2012

SACRAMENTO, CALIF. — Bayside Communities has purchased the 220-unit Azure Park Apartments in Sacramento for an undisclosed sum. The affordable housing community is currently 85 percent leased. Bayside plans to renovate and rebrand the property as Lotus Landing. Financing was provided by Pembrook Capital Management.

September 21, 2012

Multifamily Western

PONTE PALMERO IN CAMERON PARK RECEIVES $35.7M LOAN

by admin September 21, 2012

CAMERON PARK, CALIF. — The 239-unit Ponte Palmero continuing care retirement community in Cameron Park has received $35.7 million in first mortgage financing. The 26-acre community contains 100 assisted-living, 104 independent-living and 35 memory-care units. The loan was originated by KBS Strategic Opportunity REIT. It features a floating interest rate with an initial rate of no less than 11 percent. The floating rate will increase annually to no less than 18 percent during the third year of its term. It matures in October 2015.

September 21, 2012

Office Southeast

ROCKROSE TO BUY D.C. OFFICE BUILDING FOR $55M

by admin September 20, 2012

WASHINGTON, D.C. — Rockrose Development Corp. has entered into an agreement to acquire a 112,687-square-foot office building, located at 1900 M Street NW in Washington, D.C., for $55 million. The property is 89 percent leased. Tenants include Levick Strategic Communications, Sherman Meehan and State Farm Insurance. Gerald Trainor of Transwestern is representing the seller in the transaction. Rockrose is self-represented by Craig Deitelzweig.

September 20, 2012

Office Southeast

KENDAR OFFICE BUILDING SELLS FOR $10.3M

by admin September 20, 2012

CORAL GABLES, FLA. — Tamarindo has acquired the 50,000-square-foot Kendar Office Building, located at 1550 Madruga Ave. in Coral Gables, from Kenneth Rosen for $10.3 million. The property is 97 percent leased. Edmund Mazzei of Mazzei Realty Services represented the seller in the transaction. Ben Silver of Marcus & Millichap, along with Pilar Pulido of The Keyes Company, represented the buyer in the transaction.

September 20, 2012

Multifamily Southeast

M&M BROKERS $2.65M APT. COMPLEX SALE

by admin September 20, 2012

SEMINOLE, FLA. — Marcus & Millichap has arranged the $2.65 million sale of the 56-unit Seminole Village, a multifamily property located at 7770 Starkey Road in Seminole. Nicholes Meoli, Michael Regan and Francesco Carriera of Marcus & Millichap represented both the seller and the buyer, both Florida-based private investors.

September 20, 2012

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