Saturday, June 14, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Property Type

Canal-Crossing-Phoenix-AZ
AcquisitionsArizonaIndustrialWestern

Cushman & Wakefield Brokers Sale of 491,152 SF Last-Mile Industrial Portfolio in Phoenix

by Amy Works

PHOENIX — Cushman & Wakefield has arranged the sale of a last-mile industrial portfolio, totaling 491,152 square feet in Phoenix. The two-building portfolio consists of Canal Crossing, a single-tenant building totaling 155,144 square feet on 10 acres, and Riverside @ 51st, a 336,038-square-foot multi-tenant building on 19.4 acres. At the time of sale, the properties were fully occupied. LaSalle Investment Management acquired Canal Crossing, and Link Logistics purchased Riverside @ 51st. The seller was a joint venture between a privately held national real estate company and a global investment management firm. The prices were not disclosed. Located at 5670 S. 32nd St., Canal Crossing is fully occupied by a leading distributor of aftermarket automotive and RV equipment and accessories in North America. Built in 2015, the facility features 30-foot clear heights, a 130-foot truck court, 37 dock-high doors, two ground-level doors and ESFR sprinklers. Located at 2300 S. 51st Ave., Riverside @ 51st is fully leased to five tenants. Built in 2007, the property features 30-foot clear heights, 135- to 185-foot truck courts, 91 dock-high doors, six ground-level doors and ESFR sprinklers. Will Strong, Kirk Kuller, Michael Matchett and Molly Hunt of Cushman & Wakefield’s National Industrial Advisory Group brokered the …

Continue Reading
FacebookTwitterLinkedinEmail
ColoradoIndustrialLoansWestern

BridgeCore Provides $12.8M Refinancing for Industrial Property in Henderson, Colorado

by Amy Works

HENDERSON, COLO. — BridgeCore has provided $12.8 million in expedited refinancing for a single-tenant industrial building in Henderson. This is the first financing provided under BridgeCore’s new Middle Market Loan Program, which launched in fall 2023 as an alternative to traditional life insurance company financing. BridgeCore structured a three-year loan with 18 months of yield maintenance for the undisclosed borrower. The borrower required an expedited transaction, which closed prior to year-end 2023, due to a bank loan that matured at the end of September 2023. The borrower also required cash-out proceeds for repatriation of capital, which was available with the 64 percent loan-to-value refinance.

Continue Reading
FacebookTwitterLinkedinEmail
11552-S-District-Dr-Jordan-UT
AcquisitionsRetailUtahWestern

Partners Real Estate Arranges Acquisition of 99,215 SF JCPenney-Occupied Retail Store in South Jordan, Utah

by Amy Works

SOUTH JORDAN, UTAH — Texas-based Partners Real Estate has brokered the purchase of a retail store located at 11552 S. District Drive in South Jordan, a suburb of Salt Lake City. JCPenney occupies the 99,215-square-foot property. Dimitri Jordan of Partners Real Estate represented the buyer in the deal. No further details were disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
Andrews-Terrace-Rochester-NY
Affordable HousingDevelopmentLoansMultifamilyNew YorkNortheastSeniors HousingTop Stories

KeyBank Arranges $571.7M Financing Package for Affordable Seniors Housing Property in Rochester, New York

by Katie Sloan

ROCHESTER, N.Y. — KeyBank has arranged a $571.7 million financing package for Andrews Terrace, a 526-unit affordable seniors housing property located along the Genesee River in Rochester. A partnership between Conifer Realty and Community Preservation Partners owns the property and has announced renovation plans. Located at 125 St. Paul St., Andrews Terrace was built in 1975 and consists of two residential buildings, one rising 19 stories and the other 22 stories. The towers offer studio, one- and two-bedroom apartments for seniors and disabled residents. The buildings are connected on the first floor with elevated walkways throughout.  Under an existing Housing Assistance Payment contract, 496 of the community’s apartments are reserved for residents earning up to 50 percent of the area median income (AMI), with 30 apartments set aside for those earning 60 percent or less of AMI. Renovations for the 557,602-square-foot community will include kitchen upgrades and bathroom refurbishment in each unit, and renovations to common areas including the lobby, community room, management office, maintenance shop and parking garage.  The project will also include the addition of a community garden, seating and grilling area, bocce ball courts, fitness room, game room, reading nook, two community rooms, new mailboxes and a …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHospitalityTexas

Partnership Acquires 308-Room El Tropicano Hotel in San Antonio’s RiverWalk District

by Taylor Williams

SAN ANTONIO — A partnership between boutique investment firm Trestle Studio, Colorado-based Sopris Capital and The Town Lake Co. has acquired the 308-room El Tropicano Hotel in San Antonio’s RiverWalk District. According to CultureMap San Antonio, the El Tropicano originally opened in 1962 as the district’s first purpose-built hotel but has been closed since 2020. Steve Leslie and Chris Dewey of JLL represented the undisclosed seller in the transaction. The new ownership did not disclose its plans for the historic property.

Continue Reading
FacebookTwitterLinkedinEmail
Midlothian-Towne-Crossing
AcquisitionsRetailTexas

Younger Partners Buys 147,161 SF Shopping Center in Midlothian, Texas

by Taylor Williams

MIIDLOTHIAN, TEXAS — Locally based investment firm Younger Partners has acquired Midlothian Towne Crossing, a 147,161-square-foot shopping center located on the southern outskirts of Dallas. The center sits on 34 acres and was 99 percent leased at the time of sale to tenants such as Ross Dress for Less, Burkes Outlet, JoAnn Fabrics, Petco, Ulta Beauty and Famous Footwear. Chris Cozby, Harrison Tye and Jim Batjer of CBRE represented the undisclosed seller in the transaction. Kathy Permenter and Micah Ashford represented Younger Partners on an internal basis.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsSouth CarolinaSoutheastStudent Housing

Harrison Street Sells 994-Bed Student Housing Community Near Clemson University

by John Nelson

CLEMSON, S.C. — Harrison Street has sold Epoch Clemson, a 994-bed student housing community located near the Clemson University campus in South Carolina. The property offers a mix of cottage, townhome and apartment units in one-, two-, three-, four- and six-bedroom configurations. Shared amenities include sand volleyball and basketball courts, an onsite cafe, group and private study areas, 24-hour fitness center, yoga room, dog park and a resort-style swimming pool. The community also features 3,600 feet of frontage along Lake Hartwell, with amenities including a private beach, boat docks and lakeside pedestrian paths. Walker & Dunlop represented Harrison Street in the sale of the property to an affiliate of Inland Real Estate Acquisitions. The sales price was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsFloridaHealthcareSoutheast

Rendina Healthcare, Artemis Acquire 48,000 SF Medical Office Building in Wellington, Florida

by John Nelson

WELLINGTON, FLA. — Rendina Healthcare Real Estate and joint venture partner Artemis Real Estate Partners have purchased Wellington Medical Arts Pavilion III, a 48,000-square-foot medical office building in Palm Beach County. The four-story property is situated on the Wellington Regional Medical Center campus, a Universal Health Services (UHS) hospital. The undisclosed seller sold the asset for $18.3 million. The property was 91 percent leased at the time of sale to tenants including UHS, Sanitas Medical Center, Gastro Associates of Florida, Conviva Care Centers and Physician Partners of America. Rendina Healthcare was the original developer of Wellington Medical Arts Pavilion III in 2006.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaHospitalitySoutheast

JLL Arranges Sale of 107-Room Home2 Suites by Hilton Avalon Hotel in Alpharetta, Georgia

by John Nelson

ALPHARETTA, GA. — JLL has arranged the sale of Home2 Suites by Hilton Avalon, a 107-room hotel located in Alpharetta, a northern suburb of Atlanta. The property is situated off Ga. Highway 400 within walking distance of Avalon, an 86-acre mixed-use destination. Steve Leslie and Chris Dewey of JLL represented the seller, Columbus, Ga.-based Ram Hotels, in the transaction. The buyer and sales price were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsAffordable HousingDevelopmentDistrict of ColumbiaLoansSoutheast

Red Oak Capital Provides $5.8M Loan for D.C. Affordable Housing Acquisition, Rehab

by John Nelson

WASHINGTON, D.C. — Red Oak Capital Holdings has provided a $5.8 million bridge loan for Hawaii Avenue Apartments, an affordable housing property located at 89 and 93 Hawaii Ave. NE in Washington, D.C.’s Brookland neighborhood. The borrower, an entity doing business as Legacy Lofts II & III, will use the funds to acquire and rehabilitate the property into 22 apartments that will be rented under the D.C. Housing Authority’s Choice Voucher Program. The project involves converting the vacant units at the two buildings into 12 two-bedroom and 10 three-bedroom apartments with projected monthly rents of $2,439 and $3,256, respectively. The rehabilitation is expected to be finished within a year, with full stabilization by late 2025, according to Red Oak Capital. The interest-only loan carries a 12-month term with two six-month extension options and an all-in interest rate of 11 percent. The financing was underwritten based on the property’s forecast stabilized value of $8 million.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts