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Castle Lanterra Buys 120-Unit Active Adult Community in Tomball, Texas

by Taylor Williams December 9, 2022

TOMBALL, TEXAS — New York-based investment firm Castle Lanterra Properties has purchased Laurel at Vintage Park, a 120-unit active adult community located in the northern Houston suburb of Tomball. Built on 5.5 acres in 2014, Laurel at Vintage Park features one- and two-bedroom units and amenities such as a clubhouse and a fitness center. John Sweeny, Aron Will, Scott Bray, Garrett Sacco, Clint Duncan, Matthew Phillips, Jock Naponic and Nolan Mainguy of CBRE represented the seller, Coastal Ridge, in the deal.

December 9, 2022

Development Multifamily Seniors Housing Texas

Ryan Cos., Castletop Capital Break Ground on 222-Unit Seniors Housing Project in Austin

by Taylor Williams December 7, 2022

AUSTIN, TEXAS — A partnership between Minneapolis-based developer Ryan Cos. and locally based investment and management firm Castletop Capital has broken ground on a 222-unit seniors housing project in Austin. Grand Living at The Grove will be located within a larger mixed-use development and will offer 186 independent and assisted living units and 36 memory care units. Residences will range in size from 450 to 1,600 square feet. Amenities will include a bistro, library, performance theater, spa, fitness center, salon, pool, therapy rooms, chapel and outdoor amenity spaces. Completion is slated for late 2024.

December 7, 2022

Development Illinois Midwest Retail

Newcastle Properties to Build New Retail Development at Eastgate Crossing in Naperville, Illinois

by Kristin Harlow October 17, 2022

NAPERVILLE, ILL. — Newcastle Properties is set to begin construction on a new 8,300-square-foot, multi-tenant outlot building and a new 3,260-square-foot endcap space at the 270,327-square-foot Eastgate Crossing in Naperville. The development will include Kura Revolving Sushi Bar and NaanSense, an Indian fast-casual chain. Adam Cody of JLL represented Kura, while Phil Golding of CBRE represented NaanSense. Midwest Construction Partners will serve as general contractor, and Sean Devine of Newcastle Properties is the project manager. Eastgate Crossing is currently home to tenants such as HMart, Dollar Tree, CVS, Panera Bread and Citibank.

October 17, 2022

Acquisitions Illinois Midwest Retail

Newcastle Properties Acquires Grocery-Anchored Shopping Center in Chicago

by Kristin Harlow September 7, 2022

CHICAGO — Newcastle Properties has acquired Forest View shopping center in Chicago for an undisclosed price. Jewel-Osco anchors the 68,727-square-foot property, which is located at the corner of Cumberland and Lawrence avenues. The sale marks the first time the property has sold since it was built in the mid-1960s. Len Blackman of Leklen Realty Group and Michael Horne of Newcastle sourced the off-market acquisition. Drew Trammell of Newcastle managed the due diligence process and closing. Seller information was not provided.

September 7, 2022

Acquisitions Multifamily Texas

Castle Lanterra Sells Two Multifamily Properties Totaling 570 Units in Corpus Christi

by Taylor Williams August 17, 2022

CORPUS CHRISTI, TEXAS — New York City-based investment firm Castle Lanterra has sold two multifamily properties totaling 570 units in Corpus Christi. Baypoint is a 350-unit waterfront community that was originally built in 1998 and offers boat parking, a dog park, pool, sports court and a fitness center. Azure is a 220-unit garden-style community that was originally built in 1997 and offers one-, two- and three-bedroom units, as well as a similar suite of Class A amenities. Castle Lanterra acquired the assets in 2018 and 2016, respectively, and implemented value-add programs. The buyer and sales price were not disclosed.

August 17, 2022

Acquisitions Multifamily Washington Western

MIG Real Estate Acquires Cedar Rim Apartments in Newcastle, Washington for $52.9M

by Amy Works August 10, 2022

NEWCASTLE, WASH. — Newport Beach, Calif.-based MIG Real Estate has purchased Cedar Rim Apartments, a multifamily property in the Seattle suburb of Newcastle, for $52.9 million. The name of the seller was not released. Located at 7920 110th Ave. SE, Cedar Rim features 104 two-bedroom apartments with keyless door locks, smart thermostats, stainless steel appliances, in-unit washers/dryers and large windows with views of Lake Washington. Built in 1981, the community 13 four-story buildings on 4.4 acres. The property was renovated between 2006 and 2008 with new roofs and improvements to the common areas and amenity spaces. Additionally, most of the unit interiors were renovated during the same timeframe. MIG plans to paint the exterior, improve the common areas, finish renovations on the classic units and enhance renovated units to the same high-quality scope. Philip Assouad, Giovanni Napoli, Ryan Harmon and Nicholas Ruggiero of Institutional Property Advisors, a division of Marcus & Millichap, brokered both sides of the transaction. Bill Chiles, Scott Peterson, Brian Cruz and Colby Matzke of CBRE Capital Markets’ Debt & Structured Finance arranged acquisition financing for the buyer.

August 10, 2022

Acquisitions Multifamily New York Northeast Seniors Housing

Castle Lanterra Active Adult Acquires Reserve at Lakeside in Newburgh, New York

by Taylor Williams June 15, 2022

NEWBURGH, N.Y. — Castle Lanterra Active Adult, a division of Castle Lanterra, has acquired Reserve at Lakeside, a newly constructed active adult apartment complex in Newburgh. The community consists of one-bedroom units and two-bedroom apartments. Blue Foundry Bank provided acquisition financing. The seller, price and number of units were not disclosed.

June 15, 2022

Acquisitions Illinois Midwest Retail

Newcastle Properties Acquires Boardwalk Plaza Retail Center in Skokie, Illinois

by Kristin Harlow May 24, 2022

SKOKIE, ILL. — Newcastle Properties has acquired the 14,856-square-foot Boardwalk Plaza retail center in Skokie. Located at the intersection of Dempster Street and Keeler Avenue across from the Evanston Country Club, the property is home to Starbucks, SAS Comfort Shoes, Devonshire Montessori School and Albert Memi Salon. The seller and sales price were not provided. Newcastle owns and operates 82 properties in 23 states with a focus on the retail, multifamily, hospitality and office sectors.

May 24, 2022

Acquisitions California Retail Western

Pacific Castle Management Sells Waterman Grove Plaza in Elk Grove, California for $17.2M

by Amy Works May 16, 2022

ELK GROVE, CALIF. — Pacific Castle Management has completed the disposition of Waterman Grove Plaza, a retail strip center located at 9304-9332 Elk Grove Road in Elk Grove. CenterSquare Investment Management acquired the property for $17.2 million. Situated on 4.2 acres, Waterman Grove Plaza features 44,090 square feet of retail space. At the time of sale, the property was 89.2 percent occupied. Current tenants include Pets to Go, Panda Express, Jamba Juice, Mountain Mike’s Pizza, 9Round, Subway and Envy Day Spa. Eric Kathrein, Gleb Lvovich, Bryan Ley and Warren McClean of JLL Retail Capital Markets represented the seller in the deal.

May 16, 2022

Leasing Activity Restaurant Retail Texas

Bright Realty Adds 11 New Retailers, Restaurants at Realm at Castle Hills in Metro Dallas

by Taylor Williams May 11, 2022

LEWISVILLE, TEXAS — Bright Realty has added 11 new retail and restaurant users at The Realm at Castle Hills, the locally based developer’s 324-acre mixed-use destination in the northern Dallas suburb of Lewisville. Food and beverage concepts include Saray Mediterranean Fusion Grill & Bar, Salubrious Juice & More, donut eatery Mochinut, smoothie bar Bahama Bucks, breakfast concept Food Morning and Japanese restaurant Luster Grill. The roster now also features three salons — Cool Heads, Salon Bellus and Cachet Salons & Spa — as well as fitness concept Hotworx and Castle Hills Animal Hospital.

May 11, 2022

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