AUSTIN — ARA has arranged the sale of the 156-unit Summer Wind, an apartment complex located at 883 Fairfield Drive in Austin. Andrew Shih of ARA's Austin office represented the seller, who foreclosed on the property. Kansas City, Mo.-based Spectrum Business Ventures is the buyer. The property is 93 percent occupied and features a swimming pool, wood-burning fire places and bay garden windows.
HOUSTON — Gainer, Donnelly & Desroches, an accounting firm, has relocated offices and is leasing more than 45,000 square feet of space at Two Riverway, an office building located in Houston. The accounting firm will take on the office building's 15th and 16th floors.
SAN DIEGO — A 31,421-square-foot office building located at 9980 Carroll Canyon Road in San Diego has sold to National University for $5.6 million. The university plans to use this building for administrative and educational purposes. National University was represented by John Bucher of John Bucher Real Estate. The seller, Rancho Santalina, LLC, was represented by Brian Mulvaney, Bruce Sanders, Paul Brown and Matthew Bean of Voit’s San Diego office.
CYPRESS, CALIF. — Chuze Fitness has signed a 10-year lease for 20,250 square feet of space at Cypress Plaza in Cypress. The lease is valued at $2.4 million. Cypress Plaza is located at 9851 Walker Street. Chuze Fitness was represented by Chad Iafrate of Cassidy Turley. The landlord, Broadmarket Plus II, LP, was represented by Kim Watson of Investment Concepts.
WOODLAND HILLS, CALIF. — Patriot National Insurance Group has leased 14,557 square feet of office space at LNR Warner Center IV in Woodland Hills. The company plans to use the space for its regional headquarters. Patriot National was represented by Dan Sanchez and Jim Cahlin of Jones Lang LaSalle. The landlord, LNR, was represented by Sanchez.
ORLANDO, FLA. — CNL Healthcare Trust has signed an agreement with Sunrise Senior Living to enter a $226 million joint venture that will own seven seniors housing communities. With the transaction expected to close within 60 days, the joint venture, of which CNL will own 55 percent, will assume ownership of Sunrise of Santa Monica in Santa Monica, Calif.; Sunrise on Connecticut Avenue in Washington, D.C.; Sunrise at Siegen in Baton Rouge, La.; Sunrise of Metairie in Metairie, La.; Sunrise of Gilbert in Gilbert, Ariz.; Sunrise of Louisville in Louisville, Ky.; and Sunrise at Fountain Square in Lombard, Ill.
SILVER SPRING, MD. — A joint venture between Bernstein Management and Spectrum Partners has purchased the 288,392-square-foot Tech Center 29, a four-building office/flex portfolio located off Route 29 in Silver Spring, for $31.1 million from Cleveland-based DDR Corp. The portfolio is 93 percent leased. Jonathan Carpenter and James Wellschlager of Cassidy Turley represented the seller in the transaction.
LEHIGH ACRES, FLA. — Marcus & Millichap has arranged the $4.9 million sale of the 74,315-square-foot Bealls and Save-A-Lot Center, a retail property located in Lehigh Acres. James Medefind and Michael Jaworski of Marcus & Millichap’s Tampa, Fla., office represented both the seller, a Texas-based limited liability company, and the buyer, a Florida-based private investor, in the transaction.
COLUMBUS AND MCDONOUGH, GA. — Franklin Street Real Estate Services has arranged the $3.2 million sale of two Georgia Family Dollar locations in Columbus and McDonough. Mac McCall and Bryan Belk of Franklin Street represented the seller, an Atlanta-based private developer, and the buyer, an undisclosed REIT, in the transaction.
CHARLESTON, S.C. — Capital Advisors has arranged $22 million in refinancing for the 228-unit Riverland Woods Apartments, located at 1001 Riverland Woods Place in Charleston. Cooper Willis of Capital Advisors arranged the 10-year loan with 12 months of interest-only payments and a 30-year amortization schedule on behalf of the borrower, Riverland LLC, through Walker & Dunlop.
