NEW YORK CITY — Ed Graf of Houlihan-Parnes Realtors has arranged a $1.5 million loan for the first mortgage refinancing of a 42-unit apartment building, located at 3033 Godwin Terrace in the Bronx. The 7-year loan includes a fixed interest rate of 4 percent for the life of the loan and has a 30-year amortization schedule.
SOUTH PADRE ISLAND — New Braunfels-based Schlitterbahn has plans to open a 221-room, beachfront indoor waterpark hotel known as Schlitterbahn Beach Resort in South Padre Island. The hotel will feature retail, restaurants and an indoor/outdoor convertible waterpark. Phase I of the development is slated to open summer 2012. The hotel will operate year-round.
PLANO — A branch of Chase Bank, located at 161 W. Spring Creek Pkwy. in Plano, has been sold for $2.95 million. Alvin Mansour San Diego, Calif.-based The Mansour Group of Marcus & Millichap represented the seller, a local developer, in the transaction. The buyer was a private trust in a 1031 exchange.
KINGWOOD — Love Funding has secured $6.64 million in refinancing for the Rosemont Assisted Living and Memory Care center in Kingwood. Brian Robertson of Love Funding's St. Louis office arranged the 35-year loan through HUD's 232/223(a)(7) LEAN program.
HUMBLE — Dallas-based Net Realty Advisors has arranged the sale of a 8,000-square-foot freestanding retail property leased to Family Dollar, located at 10803 Will Clayton Pkwy. in Humble. Family Dollar has recently signed a 10-year lease at the location. Gavin Kam and Brad Kam of Net Realty Advisors represented the West Coast-based buyer in the transaction.
DALLAS — Newport Beach, Calif.-based KBS Realty Advisors signed Staffelbach Designs and Associate, an architectural firm, to a lease renewal of 19,855 square feet of office space at KBS' 2525 McKinnon office tower in Dallas. The 109,810-square-foot office tower is 90 percent leased. Staffelbach Designs was self-represented in the lease transaction. Kim Brooks of Transwestern's Dallas office represented the landlord.
CITY OF INDUSTRY, CALIF. – Two buildings within the Baldwin & Amar Distribution Center in the City of Industry have sold to separate buyers for a total of $14,810,480. A 96,888-square-foot warehouse/distribution building located at 760-780 Baldwin Park Blvd. was purchased by Asia Direct for $8,235,480. The company was represented by Brian McLoughlin of Voit Real Estate Services. A 92,488-square-foot warehouse/manufacturing building located at 13280 Amar Ave. was purchased by American Foam, Fiber & Supplies for $6,575,000. That company was represented by Jason Chao of CBRE. Phil Lombardo and Ty Newland of Cushman & Wakefield represented the distribution center’s owner, OMP, on both transactions.
MALIBU, CALIF. — Sephora and Chipotle Mexican Grill have leased space at the newly rebranded Malibu Village shopping center. Sephora has leased 3,885 square feet at 3896 Cross Creek Road that will open in May. Chipotle has leased 2,050 square feet at 3834 Cross Creek Road that will open in June. Robert Cohen and Rachel Rosenberg of RKF represented Sephora and Chipotle respectively in these lease transactions. DKR Malibu Village, LLC, was represented in-house.
PHOENIX – The 28,900-square-foot Central & Thomas Shopping Center in Phoenix has sold to GM Central LLC, an affiliate of Lawrence & Geyser Development, for $1.4 million. Lawrence & Geyser plan to remodel the neighborhood shopping center, which was 29 percent occupied at the time of sale. Cam Stanton, Glenn Smigiel and Bob Young of CBRE’s Phoenix office represented the seller, Gregg Williams of Trident Pacific Real Estate, the asset’s court-appointed receiver.
BRANDON, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $24.5 million sale of the 300-unit Charleston Landings, located at 902 Delaney Cir. in Brandon. Amenities include a resort-style pool, a fitness center and a recently renovated two-story clubhouse with a business center and a theater. Jamie May of IPA's Tampa office represented the seller, Denver-based Apartment Investment and Management Co., in the transaction and procured the buyer, Minneapolis-based Dorvidor Management Co.
