Property Type

SKECHERS COMING TO WINDSOR PARK CENTRE

by admin November 2, 2011

WINDCREST — Whitestone REIT has signed SKECHERS USA to a 10,000-square-foot lease for a new outlet store inside the Windsor Park Centre, a shopping center located at 8610 Fourwinds Dr. in Windcrest. Other tenants in the center include The University of Phoenix, Michaels, Cavender's Boot City, Office Depot and PetSmart. Ross Dress for Less and Mattress FIRM are expected to be open for business in the center during 2012. Whitestone REIT was self-represented by Dan Nixon and Richard Vaughan in the lease transaction. Leslie Mayer of Cushman & Wakefield's Los Angeles office and Gene Williams of The Weitzman Group's San Antonio office represented the tenant.

November 2, 2011

BEECH STREET CLOSES $12M TO REFI TWO SOCAL APTS

by admin November 2, 2011

NEWPORT BEACH, CALIF. — Beech Street Capital has secured $12.54 million to refinance two apartment complexes in Southern California. This includes the 88-unit Normandy Park apartment complex and the 65-unit Casa La Habra Apartments. Both complexes were built in the early ‘60s, and both are more than 95 percent occupied. The Fannie Mae conventional loans have 10-year terms, fixed rates and a 30-year amortization schedule. Financing was secured by Greg Reed and Kristen Croxton, who recently opened Beech Street’s Newport Beach office.

November 2, 2011

Retail Western

GRANDBRIDGE SECURES $10.2M LOAN FOR KOHL’S IN UPLAND

by admin November 2, 2011

UPLAND, CALIF. — Grandbridge Real Estate Capital has secured a $10.2-million first-mortgage loan for a Kohl’s Department Store in Upland. Kohl’s occupies a76,212-square-foot, single-tenant retail store that was built in 1978 and renovated in 2009. The self-amortizingloan features a 17-year term and a fixed rate that is below 5 percent. Financing was arranged by Grandbridge’s vice president Mikko Erkamaa through American United Life Insurance Company. He was assisted by senior real estate analyst Dean Huber.

November 2, 2011

Office Western

KABAM LEASES 57,000 SF AT SKYWAY LANDING

by admin November 2, 2011

SAN CARLOS, CALIF. – Game developer Kabam has leased 57,000 square feet at the Class A Skyway Landing office campus in San Carlos. The company plans to relocate from the 40,000-square-foot facility it currently occupies in Redwood City, Calif. Kabam was represented by Elizabeth Hart and Jon Mackey of Cornish & Carey Newmark Knight Frank. Kristoph Lodge, Jack Troedson and Graham Woodall, also of Cornish & Carey, represented the landlord, Equity Office, in this transaction.

November 2, 2011

Hospitality Southeast

RLJ LODGING TRUST BUYS COURTYARD BY MARRIOTT FOR $42M

by admin November 1, 2011

CHARLESTON, S.C. — RLJ Lodging Trust has purchased the 176-room Courtyard by Marriott Charleston Historic District, located at 125 Calhoun St. in Charleston, from Noble Investment Group for $42 million. A new tower was recently completed at the hotel, which added an additional 53 guest rooms and 2,100 square feet of meeting space. Atlanta-based Hodges Ward Elliott represented the seller in the transaction.

November 1, 2011

Multifamily Southeast

FCP ACQUIRES MONTPELIER CROSSING FOR $33.6M

by admin November 1, 2011

LAUREL, MD. — Federal Capital Partners has purchased the 386-unit Montpelier Crossing, located at 9689 Muirkirk Rd. in Laurel, for $33.6 million. The buyer plans to complete a more than $5 million renovation to improve common areas and address deferred maintenance items. CBRE represented the undisclosed seller in the transaction.

November 1, 2011

Multifamily Southeast

M&M BROKERS $17.12M MULTIFAMILY SALE

by admin November 1, 2011

WASHINGTON, D.C. — Bethesda, Md.-based The Firoozabadi Group of Marcus & Millichap has arranaged the $17.12 million sale of the 95-unit La Reine Apartments, located at 5425 Connecticut Ave. N.W. in Washington, D.C. Ari Firoozabadi, John Mullen and Kyle Tangney of The Firoozabadi Group represented Kline Family LLC, the seller, in the transaction. The buyer was Rockville, Md.-based Kossow Management.

November 1, 2011

Multifamily Southeast

TORCHLIGHT SELLS HILLMOOR VILLAGE APTS. FOR $10.5M

by admin November 1, 2011

PORT ST. LUCIE, FLA. — Torchlight Investors has sold the 230-unit Hillmoor Village Apartments, located at 1924 Southeast Hillmoor Dr. in Port St. Lucie, to California-based Finbay Pacific for $10.5 million. Robert Given and Neal Victor of CBRE's Miami office, along with Richard Tarquinio of the firm's Boca Raton, Fla., office, represented the seller in the transaction.

November 1, 2011

Industrial Southeast

JUDGE ORG. SIGNS 277,000-SQUARE-FOOT WAREHOUSE LEASE

by admin November 1, 2011

SAVANNAH, GA. — Judge Organization has signed a 277,000-square-foot lease for a build-to-suit warehouse in Centerpoint Intermodal Center in Savannah. John Neely of Colliers International's Savannah office represented Centerpoint Properties, the landlord, in the lease transaction.

November 1, 2011

Industrial Midwest

DUKE REALTY BUYS EIGHT CHICAGO AREA INDUSTRIAL BUILDINGS

by admin November 1, 2011

CHICAGO — Duke Realty Corp. has acquired a nine-building industrial portfolio, totaling 1.79 million square feet for a reported $100 million. Eight of the buildings in the portfolio are located in Chicago, and a ninth building is in Corona, Calif. The seller, Boston-based TA associates, was represented by Mike Caprile, Ted Staszak and Stephanie Park of CB Richard Ellis. The nine properties are fully leased.

November 1, 2011

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