Property Type

RBH BREAKS GROUND ON $149M TEACHERS VILLAGE

by admin February 10, 2012

NEW YORK CITY — Manhattan-based RBH Group has broken ground on Teachers Village, a $149 million retail, educational and residential development in downtown Newark. The Richard Meijer-designed complex will house three new schools, a daycare center and provide rental apartments for more than 200 Newark teachers. It will also include 70,000 square feet of retail space. Retail tenants are expected to open in the summer of 2013, and the the first residents are slated to occupy apartments in the fall of 2013.

February 10, 2012

MAR-MART SELLS 10-STORY APARTMENT BUILDING IN NYC

by admin February 10, 2012

NEW YORK CITY — Mar-Mart Realty Co. has sold 12 Fifth Ave., a 33-unit apartment building for $12.5 million. The 19,545-square-foot property is located between 8th and 9th streets in central Greenwich Village. John Stewart of the Manhattan office of Marcus & Millichap represented Mar-Mart in the transaction. He also represented the buyer, a New York City-based real estate investor. Built in 1906 as a hotel, the property was converted into apartments in the 1940s.

February 10, 2012

Multifamily Northeast

BEECH ARRANGES $11.3M LOAN FOR BALTIMORE APARTMENT ACQUISITION

by admin February 10, 2012

BALTIMORE, MD. — Beech Street Capital has provided an $11.3 million Fannie Mae loan for the acquisition of Henderson House, a 120-unit apartment property in Baltimore. Jacob Katz of Meridian Capital Group originated the loan for the undisclosed borrower. The property includes two contiguous buildings: a nine-story building with 94 units and a 10-story building containing 56 units. The 10-year, fixed-rate loan has a 30-year amortization schedule.

February 10, 2012

Mixed-Use Northeast

HOULIHAN-PARNES ARRANGES $2.1M LOAN FOR TWO NEW YORK PROPERTIES

by admin February 10, 2012

MT. VERNON, YONKERS, N.Y. — Jerry Houlihan of Houlihan-Parnes Realtors has arranged $2.1 million loan for the refinancing of two properties, located at 6-8 E. Sydney Ave. in Mount Vernon and 829 Midland Ave. in Yonkers. The loans each have a five-year term.

February 10, 2012

Office Texas

JLL BROKERS SALE OF OFFICE BUILDINGS

by admin February 10, 2012

HOUSTON — Jones Lang LaSalle has arranged the sale of two Class A office buildings, located at 4119 and 4203 Montrose in Houston, and an adjacent red brick home converted to an office property totaling 83,764 square feet. The properties are fully leased and have been for the past 4 years. Rudy Hubbard and Leah Gallagher of Jones Lang LaSalle's Houston office represented the seller, Hansen Partners, in the transaction. Equitas Commercial Real Estate Holdings, the buyer, has retained Hansen Partners to manage and lease the properties.

February 10, 2012

Retail Texas

WOODLAND WEST MARKETPLACE SELLS

by admin February 10, 2012

ARLINGTON — Irvine, Calif.-based TNP Strategic Retail Trust has acquired the 176,414-square-foot Woodland West Marketplace, a grocery-anchored retail center located in Arlington. Tom Thumb Food & Pharmacy anchors the property, which is 87 leased to tenants including Tuesday Morning, Bank of America, Goodyear, the U.S. Post Office and Hallmark.

February 10, 2012

Hospitality Texas

M&M ARRANGES $1.85M HOTEL SALE

by admin February 10, 2012

PASADENA — Marcus & Millichap has brokered the $1.85 million sale of the 60-room Former Holiday Inn Express, a hotel located at 2601 Spencer Hwy. in Pasadena. Eric Guerrero, Michael Yu and Rahul Bijlani of Marcus & Millichap's Houston office represented the seller, a partnership, in the transaction. Guerrero, Yu, Bijlani and Tyler Bean, also of Marcus & Millichap's Houston office, represented the buyer, a private investor.

February 10, 2012

Office Texas

HFF ARRANGES $33M FOR PROMINENT POINTE I & II

by admin February 10, 2012

AUSTIN — HFF has arranged $33 million in acquisition financing for Prominent Pointe I and II, two office buildings totaling 261,243 square feet located at 8310 Capital of Texas in Austin. The properties are a combined 90.6 percent occupied. Doug Opalka of HFF's Austin office arranged the financing through a national life insurance company on behalf of the borrower, San Francisco-based Divco West Acquisitions. Chad Barrett and Bart Matheny of Austin-based AQUILA Commercial arranged the acquisition on behalf of the seller, Aspen Properties.

February 10, 2012

Multifamily Texas

NORTHMARQ ARRANGES $11.4M MULTIFAMILY LOAN

by admin February 10, 2012

MCKINNEY — NorthMarq Capital has arranged $11.4 million in first mortgage financing for the 208-unit Parkview Legends, a multifamily property located at 1701 Park Central Dr. in McKinney. Jeff Frankel of NorthMarq's Chicago office and Charlie Robinson of the firm's Dallas office arranged the 4-year loan with a 30-year amortization schedule through a Midwest-based life insurance company.

February 10, 2012

Multifamily Southeast

GROUND BREAKS FOR $60M SKYHOUSE MIDTOWN

by admin February 9, 2012

ATLANTA — The $60 million SkyHouse Midtown, a 23-story high-rise apartment building, has broken ground at the corner of West Peachtree and 12th streets in Midtown Atlanta. SkyHouse Midtown is being developed by a joint venture between Novare Group and Batson-Cook Development Co. Smallwood, Reynolds, Stewart, Stewart is the project architect, and an investor account advised by the U.S. real estate business of UBS Global Asset Management is providing construction and permanent financing for the project. NGI Investments, LLC and Batson-Cook Development Co. are providing equity. Construction is set to be completed by January 2013.

February 9, 2012

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