Sunday, November 24, 2024
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Uncategorized

DevelopmentLoansMultifamilyNew YorkNortheastUncategorized

HFF Secures $165M Construction Loan for Condo Development in Brooklyn

by David Cohen

NEW YORK CITY — HFF has secured a $165 million construction loan for One Boerum Place, a 21-story, mixed-use condominium development in Brooklyn. Located in Brooklyn’s Borough Hall district, the 122-unit project will include a two-story fitness center, entertainment lounge, children’s playroom, landscaped rooftop, 24/7 doorman and concierge service, as well as a fully automated parking garage. The project is slated for completion in the first quarter of 2021. Christopher Peck, Graham Stephens, Peter Rotchford and Alex Staikos of HFF secured the floating-rate construction loan on behalf of One Boerum Development Partners LLC. The lender was a foreign pension fund. 

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsConnecticutHealthcareNortheastOfficeUncategorized

NKF Negotiates $18.7M Sale of Medical Office Complex in Connecticut

by David Cohen

WESTPORT, CONN. — NKF has negotiated the $18.7 million sale of Westport Center for Health in Westport. Located at 323-329 Riverside Ave., Yale New Haven Health’s Northeast Medical Group anchors the 38,000-square-foot property. The property recently underwent an extensive renovation highlighted by the demolition of an entire building to convert the former five-building office campus into a four-building medical office complex with added parking to accommodate medical office tenants. Frank Nelson, Michael Greeley, James Tribble and Casey O’Brien of NKF’s Boston Capital Markets team represented the seller, The Davis Cos., in the transaction. The buyer was Healthcare Trust of America Inc. 

Continue Reading
FacebookTwitterLinkedinEmail
Hagwood-Hunt-Real-Estate-Capital-quote
FeaturesFinance InsightMidwestNortheastSoutheastTexasUncategorizedWestern

Refis, Retail and Resources

by Jaime Lackey

Chad Thomas Hagwood, senior managing director and regional manager for the Southeast at Hunt Real Estate Capital, closes loans across the nation and sees opportunities in multiple sectors in 2019. While multifamily is still a standout, his scope extends beyond the industry buzzwords common today. Do you think refinancing activity will be as robust as it’s been in the recent past? Hagwood: There is no doubt refinancing will remain very active in 2019. Treasury yields have subsided from north of 3 percent and spreads are still extremely attractive. Many owners intend to hold their properties as opposed to selling. They realize they will have to pay top dollar to find a replacement property, or shell out a portion of their gains to Uncle Sam. It makes a great deal of sense to refinance and cash out versus sell, in many circumstances.  What has been Hunt’s most popular loan product as of late?  Hagwood: Both the 10- and 12-year fixed-rate conventional products with maximum IO [interest only] have been extremely popular with Hunt’s customers. In my opinion, the level of fixed-rate conventional business will continue to grow well into 2019 and beyond here at Hunt. The fixed-rate offering — compared with adjustable and floating …

Continue Reading
FacebookTwitterLinkedinEmail
1401 New York Avenue NW in Washington, D.C.
District of ColumbiaOfficeSoutheastTop StoriesUncategorized

AXA, Stewart Investment Acquire 210,000 SF Office Tower in D.C. for $165M

by Katie Sloan

WASHINGTON, D.C. — A joint venture between Paris-based AXA Investment Managers – Real Assets and Stewart Investment Partners has acquired 1401 New York Avenue NW, a 210,000-square-foot office property located in Washington, D.C.’s East End, for $165 million. AXA holds the majority interest in the partnership. The sellers, Heitman and Minshall Stewart Properties, originally acquired the property in December 2013 from Lone Star Funds for $95 million. Stewart Investment Partners is a successor firm spun out from Minshall Stewart Properties. The 12-story building is LEED Gold certified and features ground-level retail and a below-grade parking garage. The property was originally built in 1983, and recently underwent renovations that included a redesigned lobby, retail frontage, the addition of new tenant amenities and the replacement of the building’s original masonry façade with a glass curtain wall system. This property is AXA’s second investment in the Washington, D.C., metro over the past few months. The company acquired Montgomery Tower, a 366,800-square-foot office tower located in Bethesda, Md., in October of last year for $132.8 million. Paris, France-based AXA Investment Managers – Real Assets operates offices in 20 countries throughout Europe, Asia-Pacific and North America. The company has 74 billion euros in assets under …

Continue Reading
FacebookTwitterLinkedinEmail
RetailTexasUncategorized

NAI RGV Arranges Sale of 44,041 SF Retail Property in McAllen

by Taylor Williams

MCALLEN, TEXAS — NAI Rio Grande Valley (RGV) has arranged the sale of The District at McAllen, a 44,041-square-foot retail property located at 3300 N. McColl Road in McAllen. Laura Liza Paz of NAI RGV represented the undisclosed seller in the transaction. Daniel Galvan of Coldwell Banker Commercial La Mansion represented the buyer, Keller, Texas-based Ryan Investments. Built in 2006, The District at McAllen will house a 20,000-square-foot UFC Gym as the new owner rebrands it from an entertainment venue into a retail and office development.  

Continue Reading
FacebookTwitterLinkedinEmail
TexasUncategorized

Apollo Global Management to Acquire Dallas-Based ClubCorp for $1.1B

by Taylor Williams

DALLAS — Apollo Global Management LLC will acquire Dallas-based ClubCorp (NYSE: MYCC), which owns and operates approximately 200 properties throughout the United States, Mexico and China, most of which are golf and country clubs, for $1.1 billion. Under the terms of the deal, Apollo will acquire all of ClubCorp’s outstanding shares for $17.12 per share in cash. The sale is expected to close during the fourth quarter.  

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialTexasUncategorized

GM, NorthPoint Break Ground on 1.2 MSF Logistics Center in Arlington

by Taylor Williams

ARLINGTON, TEXAS — General Motors (GM) and NorthPoint Development have broken ground on Arlington Automotive Logistics Center, a two-building, 1.2 million-square-foot industrial property in Arlington that will support GM’s nearby manufacturing plant. The project is expected to be complete in 2018 and create an additional 850 jobs. Bob Moore Construction has been named general contractor for the center, which will house about 1,250 employees and provide warehouse services.

Continue Reading
FacebookTwitterLinkedinEmail
HealthcareTexasUncategorized

Caddis Acquires Medical Office Properties in El Paso, Plano

by Taylor Williams

EL PASO AND PLANO, TEXAS — Dallas-based healthcare real estate firm Caddis has acquired two medical office properties in El Paso and Plano. The company has purchased George Dieter Medical Plaza, a 15,005-square-foot property located at 1393 George Dieter Drive in El Paso, a transaction for which Capital One provided the acquisition financing. Caddis has also acquired a 21,246-square-foot building located at 5228 W. Plano Parkway in Plano, which is currently leased to Plano Orthopedic Sports Medicine & Spine Center.

Continue Reading
FacebookTwitterLinkedinEmail
RetailTexasUncategorized

Oldham Goodwin Brokers Sale of 170,000 SF Retail Power Center in College Station

by Taylor Williams

COLLEGE STATION, TEXAS — Oldham Goodwin Group LLC, a brokerage and development firm based in Central Texas, has brokered the sale of University Shopping Center, a 170,000-square-foot retail power center in College Station. Located at 1901 S. Texas Ave. approximately half a mile from Texas A&M University, the center is anchored by tenants such as Ross Dress for Less, Big Lots and Hobby Lobby. Clint Oldham of Oldham Goodwin represented the seller, Allegiancy, a Virginia-based asset management firm, and procured the undisclosed buyer.

Continue Reading
FacebookTwitterLinkedinEmail
OfficeTexasUncategorized

KDC Tops Off $300M, 1 MSF JPMorgan Chase Corporate Campus at Legacy West

by Taylor Williams

PLANO, TEXAS — Developer KDC has topped off JPMorgan Chase’s new, 1 million-square-foot corporate office campus at the Legacy West development in Plano. The $300 million, 50-acre campus features amenities such as a food court, health and wellness center, training and conference space, and a childcare center. Approximately 6,000 JPMorgan Chase employees are expected to work at the property beginning in the second half of 2017.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts