Property Type

Presidium Completes on 368-Unit Multifamily Project in Frisco Square

by Taylor Williams January 14, 2025

FRISCO, TEXAS — Texas-based multifamily developer Presidium has completed Presidium Frisco Square, a 368-unit multifamily project located within the Frisco Square mixed-use development in metro Dallas. Units come in studio, one-, two- and three-bedroom floor plans and feature keyless entry mechanisms, ecobee thermostats and energy-efficient appliances. Amenities include a pool, three courtyards with outdoor kitchens, a dog park, clubroom, cinema lounge, golf simulator, fitness center and a business center with micro-offices and a podcast room. Dallas-based O’Brien Architects designed the project, construction of which began in late 2021. Rents start at $1,367 per month for a studio apartment.

January 14, 2025

Acquisitions Affordable Housing Multifamily Texas

Marcus & Millichap Brokers Sale of 224-Unit Addison Park Apartments in Arlington

by Taylor Williams January 14, 2025

ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Addison Park, a 224-unit affordable housing complex in Arlington. Built in 2004, the property offers one-, two- and three-bedroom units and amenities such as a pool, business center, playground and outdoor grilling and dining stations. Information on income restrictions was not disclosed. Sam Pettigrew, Wes Racht, Nick Fluellen and Bard Hoover of Marcus & Millichap represented the undisclosed seller in the transaction and procured the buyer, Brazos Residential.

January 14, 2025

Acquisitions Development Hospitality Texas

Angleton Realty Buys 50 Acres in Metro Houston for RV Park, Commercial Development

by Taylor Williams January 14, 2025

ANGLETON, TEXAS — Locally based investment firm Angleton Realty has purchased approximately 50 acres in Angleton, located south of Houston, for the development of a new RV park and commercial space. Details on the commercial component, as well as an overall construction timeline, were not disclosed. Kirk Laguarta, Duane Heckmann and Nate Jackson of Land Advisors Organization represented the seller, an entity doing business as Rancho Isabella LLC, in the transaction. Darbe Gosda of CBRE represented Angleton Realty.

January 14, 2025

Leasing Activity Office Texas

Ezee Fiber Signs 94,179 SF Office Headquarters Lease in Southwest Houston

by Taylor Williams January 14, 2025

HOUSTON — Ezee Fiber has signed a 94,179-square-foot office headquarters lease in southwest Houston. The internet service provider is consolidating its local operations within Houston Technology Center, a 300,000-square-foot complex located at 5959 Corporate Drive. The property offers amenities such as an onsite restaurant, conference rooms and a fitness center. Michelle Wogan and Paula Musa of Transwestern represented the landlord, Dallas-based Prescott Group, in the lease negotiations. The tenant was self-represented.

January 14, 2025

Acquisitions Office Texas

Cushman & Wakefield Arranges Sale of 17,550 SF Office Building in McKinney, Texas

by Taylor Williams January 14, 2025

MCKINNEY, TEXAS — Cushman & Wakefield has arranged the sale of a 17,550-square-foot office building in the northern Dallas suburb of McKinney. The building at 230 E. Hunt St. was originally constructed in 2015, according to LoopNet Inc. Ryan Hoopes and Johnny Johnson of Cushman & Wakefield represented the buyer, Morrow Renewables, which is also a tenant at the building, in the transaction. The seller was an entity doing business as Tynas Texas LP.

January 14, 2025

Hospitality Loans Massachusetts Northeast

Tremont Realty Capital Provides $45M Acquisition Loan for Downtown Boston Hotel

by Taylor Williams January 14, 2025

BOSTON — Tremont Realty Capital, a division of locally based investment firm RMR Group, has provided a $45 million bridge loan for the acquisition of the 178-room Club Quarters Hotel in Boston. The hotel is located at 161 Devonshire St. in the downtown area and offers a mix of traditional guestrooms and suites, as well as meeting and event space and onsite dining options. JLL arranged the loan, which carries a floating interest rate and a three-year initial term with two one-year extension options, on behalf of the borrower, an entity doing business as Arch & Devonshire LLC.

January 14, 2025

Development Multifamily New Jersey Northeast

Garden Communities Nears Completion of 192-Unit Multifamily Project in New Providence, New Jersey

by Taylor Williams January 14, 2025

NEW PROVIDENCE, N.J. — New Jersey-based developer Garden Communities is nearing completion of Providence Place, a 192-unit multifamily project located about 30 miles west of Manhattan in New Providence. Providence Place will feature two- and three-bedroom townhome-style apartments with private garages and driveways. Amenities at the 27-acre property will include a resident clubhouse and an outdoor pool, among others. Full completion is slated for this spring.

January 14, 2025

Acquisitions Massachusetts Multifamily Northeast

CBRE Brokers Sale of 176-Unit Apartment Complex in Hudson, Massachusetts

by Taylor Williams January 14, 2025

HUDSON, MASS. — CBRE has brokered the sale of a 176-unit apartment complex in Hudson, a western suburb of Boston. Matrix Hudson is a five-building property that was completed in 2017. Units come in one- and two-bedroom floor plans and feature an average size of 1,006 square feet. Amenities include a clubroom, fitness center and a business center. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, an affiliate of The Claremont Cos., in the transaction. The team also procured the buyer, a fund backed by Zurich Alternative Asset Management.

January 14, 2025

Development Florida Hospitality Loans Southeast

Bayview PACE Provides $137M C-PACE Financing for Westin Cocoa Beach Resort Development

by John Nelson January 14, 2025

COCOA BEACH, FLA. — Bayview PACE has provided $137 million in C-PACE financing for the development of Westin Cocoa Beach Resort & Spa, a $420 million hospitality development located at 100 N. Atlantic Ave. in Cocoa Beach. Coral Gables, Fla.-based Driftwood Capital is the borrower and developer behind the 502-room development, which is slated to open in early 2027. In addition to the C-PACE loan, Driftwood Capital obtained $70 million in construction financing from City National Bank of Florida and a $50 million credit facility from Amerant Bank, bringing the new capital infusion to a combined $257 million. Construction is currently underway on the Marriott-branded project, which will feature 11 food-and-beverage venues and 123,700 square feet of indoor/outdoor meeting space in addition to the hotel rooms and wellness features. The transaction represents the largest C-PACE deal in Florida and the third-largest hospitality C-PACE loan in the United States, according to Bayview PACE. Commercial property assessed clean energy financing (C-PACE) has become a viable financing method for developers as the loan becomes an assessment that borrowers pay with their tax bill. These loans also pay for energy and water upgrades in new construction and rehabilitation projects, including retroactively.

January 14, 2025

Acquisitions California Loans Retail Western

Marathon Asset Management Provides $164M Acquisition Loan for Shopping Mall in Thousand Oaks, California

by Amy Works January 14, 2025

THOUSAND OAKS, CALIF. — Marathon Asset Management has provided a $164 million mortgage loan for the acquisition of The Oaks, a shopping mall located in Thousand Oaks, roughly 38 miles west of Los Angeles. Stockdale Capital Partners was the borrower. Nordstrom, Dick’s Sporting Goods and AMC Theatres anchor the 1.2 million-square-foot property, which is situated on 85 acres. Other tenants at the center include Apple, Anthropologie, Zara, H&M and Arhaus. Joseph Griffin of Marathon originated the loan. Greg Stampley and Jessica Henning of Eastdil Secured arranged the financing on behalf of Stockdale.

January 14, 2025

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