SOMERVILLE, MASS. —Fantini & Gorga has originated $2.7 million in first mortgage financing for a mixed-use building in Somerville. A Boston-area investor acquired the fully leased property for $3.5 million. The building includes 15 apartment units and 4 street-level rental units. Keith Wentzel of Fantini & Gorga arranged the loan through a Boston area community bank.
LAKE WORTH — Cadence McShane has completed a second renovation and expansion of Lake Worth High School, located at 4210 Boat Club Rd. in Lake Worth. The construction project included the addition of 41 classrooms, two science laboratories, expanded cafeteria and kitchen facilities, practice and competition gymnasiums and upgraded locker rooms. WRA Architects designed the school on behalf of Lake Worth Independent School District.
SAN ANTONIO — St. Paul, Minn.-based Oak Grove Capital has originated financing for the 144-unit Emeritus at Amber Oaks, a seniors housing facility located in San Antonio. The transaction is part of a $17.9 million refinancing for three properties in the U.S., including Emeritus at Amber Oaks. The 30-year loan was arranged through HUD's 232/223(f) financing program.
MIDLAND AND ODESSA — Dallas-based Metropolitan Capital Advisors (MCA) has closed a $4.8 million bridge loan for the 170-unit Southwest Oaks apartment complex and a $3.25 million bridge loan for the 127-unit Summerhill apartment complex. The 132,500-square-foot Southwest Oaks is located at 4651 Oakwood Dr. and 1465 John Ben Sheppard Pkwy. in Odessa. The 106,250-square-foot Summerhill is located at 3001 N. Midland Dr. in Midland. Todd McNeil of MCA arranged both transactions on 1-year terms.
DALLAS — Jones Lang LaSalle arranged the lease of 32,028 square feet of office space at The Towers at Williams Square, located at 5215 N. O'Connor Blvd. in Dallas' Las Colinas submarket. Brad Selner and Andy Leatherman of Jones Lang LaSalle's Dallas office represented the tenant, The Ethos Group, in the lease transaction. Bill Brokaw of Cousins Properties' Dallas office represented the landlord, TIAA Realty, Inc.
SAN FRANCISCO – Citygroup Center, a 719,000-square-foot, Class-A office tower in San Francisco’s Financial District, has signed 10 new leases and lease renewals totaling 60,000 square feet. These lease transactions have increased the tower’s occupancy by 10 percent. It is now 82 percent leased. Newly signed leases included Industry Capital Holdings for about 9,400 square feet; One Beacon Insurance Company for 6,401 square feet; Kelly, Hockel & Klein for 5,603 square feet; Cole-Frieman & Mallon for 5,162 square feet; Acquity Group for 5,042 square feet; Pivot Point Capital for 4,673 square feet; Gross Belsky Alonso LLP for 3,469 square feet; Chopper Trading for 3,373 square feet; and Venture Capital Fund of America III for 2,749 square feet. Korn/Ferry International also signed a lease renewal for 17,440 square feet. The building’s leasing efforts are managed by Meade Boutwell, Phil Tippett, Jak Churton and Cori English of CB Richard Ellis’ San Francisco office. The building, which is also known as One Sansome Street, is owned by Barker Pacific Group.
LITTLETON, COLO. – The 79,545-square-foot Broadridge Shopping Center in Littleton has sold to a limited liability company for $4.7 million. It was a lender-approved short sale. The shopping center was 70 percent leased at the time of sale. Notable tenants include Ace Hardware, Carquest and PROformance Apparel. Garrette L. Matlock and Jon Hendrickson of Marcus & Millichap’s Denver office represented both the buyer and the seller, Broadridge Jero LLC and Broadridge Brad LLC, in this transaction.
WESTLAKE VILLAGE, CALIF. — Jackson DeMarco Tidus Peckenpaugh (JDTP) has signed a seven-year lease renewal valued at $2.5 million at Westlake Plaza Center III. The law firm occupies the second floor of the three-story building. JDTP was represented by Studley’s Royce Sharf, Andrew Lustgarten, and Denise Shay. The plaza’s owner, Topa Equities, was represented in-house by Robin Platt.
WASHINGTON, D.C. — Clarion Partners has commenced construction on the $32 million renovation of Chevy Chase Pavilion, a mixed-use development located at 5335 Wisconsin Ave. in Washington, D.C. Included in the property is a 198-room hotel, 154,292 square feet of retail space and a 200,248-square-foot office tower. The renovation will include new finishes, the removal of the atrium canopy, new vertical transportation and a new media venue with a 30-by-60 foot, synchronized LED wall. In addition, a 14,000-square-foot RANGE restaurant will be added, as well as the 5,500-square-foot The Civil Lounge, a small plate eatery and cigar lounge. Completion is slated for mid-September.
JEFFERSON, GA. — The Shopping Center Group has negotiated the $5.25 million sale of the 29,800-square-foot shops portion of Loggins Corners, located at the intersection of Old Pendergass Road and U.S. Highway 129 in Jefferson. A 78,829-square-foot Kroger and Fuel Center shadow-anchors the small shop space, which is 97 percent leased to tenants including Beef 'O' Brady's, H&R Block, Northeast Georgia Health System, State Farm, Little Caesars and Verizon Wireless. The Shopping Center Group represented the seller, an Atlanta-based development company, in the transaction. The buyer was a Colorado-based private investor.
