BOSTON — Suffolk Construction has broken ground on The Victor, a 377,000-square-foot residential tower, located at 95 Havehill St. in Boston. The $92 million project will include 17,000 square feet of retail space, 286 new apartments and a parking garage. Simpson Housing LLP will manage the building upon completion. The architect is ADD Inc. Construction is scheduled to be completed in 2013.
NEW YORK — SL Green Corp. and its joint venture partner have agreed to sell One Court Square in Manhattan to a private investor group for an estimated $42 million. The transaction includes $315 million of existing debt, which will be assumed by the purchaser. The 1.4 million-square-foot office building is fully leased to Citibank. Eastdil Secured represented the sellers in the pending transaction.
CAMBRIDGE, MASS. — Intrepid Labs, a Cambridge-based startup specializing in alternative workspaces for venture-backed firms, has signed a 10,500-square-foot office lease at the American Twine Office Park, located at 222 Third St. in Cambridge. Tad Lee of Colliers International's Boston office represented the landlord, Transatlantic Investment Management Inc., in the transaction.
MIDLAND, SAN ANTONIO AND NEW BRAUNFELS — Hendricks & Partners has brokered the sale of the 1,040-unit Vantage portfolio, a four-property acquisition including Vantage at Midland in Midland, Vantage at Schertz in San Antonio, Vantage at New Braunfels in New Braunfels and Vantage at Converse in San Antonio. Mke Miller, Chris Ross and Will Caruth of Hendricks & Partners' San Antonio office represented the seller in the transaction. Joe Simon of Chicago-based Americus Realty represented the buyer in the transaction.
MCKINNEY — Lee & Associates has arranged the $7.3 million sale of a 14,820-square-foot property leased by Walgreens, located in the master-planned community Craig Ranch at 8996 Stacy Rd. in McKinney. Jim Casale of Lee & Associates' San Diego office represented the buyers, a private family trust, in the transaction. Brad Kam and Gavin Kam of Net Lease Realty Advisors represented the sellers, JK 720 Custer LLC.
AUSTIN — Jones Lang LaSalle's Capital Markets has secured $35 million in construction financing for the development of Riverview Apartments, located at the intersection of Interstate 35 and Riverside Drive in Austin. Mike Melody and Jimmy Board arranged the 3-year loan through Bank of America on behalf of CDK Realty Advisors.
SAN ANTONIO — Marcus & Millichap has brokered the sale of Comfort Suites Alamo Downs, a 75-room hotel at 8021 Alamo Down Pkwy. in San Antonio. The seller, a financial institution, foreclosed on the property in July. Allan Miller of Marcus & Millichap's Austin office and Chris Gomes of the firm's Dallas office represented the buyer, a private investor.
AUSTIN — Linsalata Realty Services has brokered the sale of the 49,200-square-foot Granada Self Storage, a self-storage facility located at 201 W. Stassney Ln. in Austin. A-A-A Storage Stassney, LLC, purchased the property with financing from Amplify Credit Union. The facility includes 576 self storage units and a five-bay car wash. Joe Linsalata of Linsalata Realty brokered the transaction on behalf of the buyer.
NORTH HOLLYWOOD, CALIF. – The 36-unit Valley Vine apartment community in North Hollywood has sold to LOT Burbank Partners for $3,580,000. It sold at a 6 percent cap rate. Chris Malcolm and David J. Harrington of Hendricks & Partners’ North Los Angeles office represented both the buyer and the seller, Valley Vine Ltd.
SANTA MONICA, CALIF. — Xenon Investments has purchased a multifamily property located at 123 California Ave. in Santa Monica. The property sold at a cap rate that was just above 4 percent. The complex was built in 1959 and sold for the full asking price, which was not disclosed. Xenon was represented by Hamid Soroudi of the Charles Dunn Company’s West Los Angeles office. The seller, Petrikas Family Limited Partnership, was represented by Kimberly Roberts Stepp, also of the firm’s West Los Angeles office.
