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Castle Lanterra Sells 350-Unit Villas Tech Ridge Apartments in Austin

by Taylor Williams January 31, 2020

AUSTIN, TEXAS — New York-based investment firm Castle Lanterra Properties (CLP) has sold Villas Tech Ridge, a 350-unit apartment community in Austin. Built in 2008, the property is part of the 236-acre Tech Ridge master-planned community and features one-, two- and three-bedroom units. Amenities include a pool, fitness center and a resident clubhouse. CLP acquired the asset in 2016 and implemented a value-add program that upgraded unit interiors and amenity spaces. Villas Tech Ridge was 98 percent occupied at the time of sale.

January 31, 2020

Development Midwest Office Ohio

M+A Architects Completes Design of New 80,000 SF Office for White Castle in Columbus

by Kristin Harlow December 19, 2019

COLUMBUS, OHIO — M+A Architects has completed the interior design work of the new 80,000-square-foot home office for White Castle in Columbus. The office design incorporates shared workspaces and tributes to the hamburger chain’s history. Located at 555 W. Goodale St., it features a library, café, indoor fitness area, mother’s nursing suite and a spiral slide connecting the second floor to the first floor. The project team also included Architectural Alliance, POD Design and Elford.

December 19, 2019

Acquisitions Colorado Multifamily Western

Castle Lanterra Acquires 84-Unit RiDE at RiNo Apartment Complex in Downtown Denver

by Amy Works December 12, 2019

DENVER — New York-based Castle Lanterra Properties has purchased RiDE at RiNo, a newly built, Class A multifamily community located in the River North (RiNo) neighborhood of downtown Denver. McWhinney sold the property for $23 million. Located at 3609 Wynkoop St., RiDE at RiNo features 84 modern suites and large live/work units, ranging in size from 369 square feet to 849 square feet, with loft-style 12- or 18-foot ceilings. Community amenities include a 24-hour fitness center, a rooftop deck with a barbecue area, club and conference rooms, lounge, underground parking, bicycle repair station and a video intercom systems. Terrance Hunt and Shane Ozment of Newmark Knight Frank’s Denver office brokered the transaction.

December 12, 2019

Illinois Leasing Activity Midwest Office

Crown Castle Inks 48,000 SF Office Lease in Downers Grove, Illinois

by Kristin Harlow November 14, 2019

DOWNERS GROVE, ILL. — Crown Castle has leased 48,000 square feet of office space at Highland Landmark II in Downers Grove. The provider of communications infrastructure is consolidating all five of its Chicago-area locations into the new space. Highland Landmark II, located at 3025 Highland Parkway, is a 284,000-square-foot building within a 42-acre office park. Amenities include a deli, conference center and fitness center. David Burden, Tom Berarducci and Jay Kyle of Colliers International represented Crown Castle in the lease transaction. Jeff Shay and Karla Harmon of JLL represented the building owner, James Campbell Co.

November 14, 2019

Acquisitions California Retail Western

Pacific Castle Management Sells Strawberry Creek Shopping Center in Sacramento for $20.9M

by Amy Works November 13, 2019

SACRAMENTO, CALIF. — Irvine, Calif.-based Pacific Castle Management has completed the sale of Strawberry Creek, a shopping center in Sacramento. A local private investment group acquired the property for $20.9 million. Constructed in 2007 on 7.4 acres, the four-building property features 57,373 square feet of retail space. Edward Nelson and Nicholas Scelsa of Marcus & Millichap represented the seller and procured the buyer in the deal.

November 13, 2019

Centerpointe-Commerce-Center-Moreno-Valley-CA

California Development Industrial Western

Rockefeller Group, Newcastle Partners Break Ground on 203,944 SF Distribution Center in Inland Empire

by Amy Works September 25, 2019

MORENO VALLEY, CALIF. — Rockefeller Group has broken ground on Centerpointe Commerce Center, a speculative distribution center situated on 8.8 acres of industrial land in Moreno Valley. The 203,944-square-foot facility is slated for completion in summer 2020. Located on Frederick Street, the dock-high industrial building will feature 32-foot clear heights, 8,000 square feet of speculative office improvements, 106 auto-parking stalls and 26 trailer-parking stalls. Additionally, the property will offer access to several Southern California freeways, including Interstate 215, State Route 60, State Route 90 and Interstate 10. Rockefeller Group acquired the site from Newcastle Partners in April. Newcastle pursued the required governmental approvals for the projects beginning in October 2017, and the company successfully obtained the entitlements and zoning just prior to Rockefeller Group’s acquisition. Rockefeller Group and Newcastle selected Newport Beach, Calif.-based RM Dalton as general contractor, Herdman Architecture + Design as architect and SDH & Associates as civil engineer. Bill Heim, Finn Comer, Alex Heim and Nesha Ritchie of Lee & Associates are the exclusive leasing agents for Centerpointe Commerce Center.

September 25, 2019

Acquisitions Multifamily Texas

Castle Lanterra Sells 370-Unit Apartment Community in Austin

by Taylor Williams September 10, 2019

AUSTIN, TEXAS — New York-based investment firm Castle Lanterra Properties (CLP) has sold Array, a 370-unit apartment community located in the East Riverside area of Austin. The 14-acre property was originally constructed in 1973 and then completely renovated in 2013. Floor plans include one-, two- and three-bedroom apartments in 40 two-story residential buildings. Array features amenities such as two pools, two dog parks, a fully equipped fitness center with an elevated spinning room and yoga room, an outdoor sports court and a resident lounge. CLP acquired the asset in 2016 for $38.5 million before executing a value-add program.

September 10, 2019

Acquisitions Georgia Multifamily Southeast

Castle Lanterra Acquires 280-Unit Multifamily Community in Metro Atlanta

by Alex Tostado June 26, 2019

AUSTELL, GA. — Castle Lanterra Properties (CLP) has acquired Premier Apartments, a 280-unit multifamily community in Austell. Built in 1972, Premier Apartments offers one-, two- and three-bedroom floor plans across 24 buildings. Communal amenities include tennis courts, a community lake, swimming pool and playgrounds. Premier Apartments is situated on 24 acres at 7200 Premier Lane, 11 miles west of downtown Atlanta. The seller and sales prices were not disclosed.

June 26, 2019

Acquisitions Alabama Multifamily Southeast

Castle Lanterra Sells Multifamily Property in Tuscaloosa for $20.7M

by Alex Tostado February 20, 2019

TUSCALOOSA, FLA. — Castle Lanterra Properties has sold Heights at Skyland, a 304-unit apartment property in Tuscaloosa, for $20.7 million to an undisclosed buyer. The property was developed in two phases in 1975 and 1991. The asset offers one- and two-bedroom floor plans and amenities such as a dog park, breakfast bar, coffee bar, picnic area, fitness center, swimming pool, playground, clubhouse, tennis court and a volleyball court. Heights at Skyland is situated about four miles south of the University of Alabama and about six miles south of downtown Tuscaloosa.

February 20, 2019

Acquisitions California Industrial Western

Newcastle Partners Divests 260,000 SF Industrial Spec Development in Riverside, California

by Amy Works February 1, 2019

RIVERSIDE, CALIF. — Newcastle Partners, in partnership with Sun Life Assurance Company of Canada, has completed the sale of a speculative industrial property nearing completion in Riverside. Situated on 13 acres at 21822 Opportunity Way, the 260,000-square-foot facility is situated within Meridian Business Park. The facility features 32-foot clear heights, an ESFR sprinkler system and a cross-docked design that includes up to 185-foot truck courts. The facility is the third and final phase of activity within Meridian Business Park, a 70-acre site with 1.37 million square feet of industrial space. Phil Lombardo and Chuck Beldon of Cushman & Wakefield represented Newcastle Partners in the transaction.

February 1, 2019

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