more_sales_and_leases

M&M Arranges Sale of 42,004 SF Retail Property in Fort Worth

by Haisten Willis November 2, 2015

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Woodmont Plaza North, a 42,004-square-foot retail property located in Fort Worth. Philip Levy of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Levy also secured the buyer, a private investor. Woodmont Plaza North is located at 6200 McCart Ave. The property is a multi-tenant retail center that is 91 percent occupied. Tenants include EZ Money Payday Loans, Schlotzsky’s Deli, Krispy Catfish, Evolution Games, Agape Church, Maya’s Furniture & More, Century 21, Supercuts, H & R Block, Little Caesar’s, Eddie Bermea State Farm and Cousin’s Barbecue. The center was built in 1982 and sits on 4.1 acres. Woodmont Plaza North is located on McCart Avenue about two miles south of Interstate 20.

November 2, 2015

HFF Arranges Sale of Power Center in Metro Dallas

by Haisten Willis November 2, 2015

FLOWER MOUND, TEXAS — HFF has arranged the sale of Robertson’s Creek, a 336,402-square-foot power center in the Dallas suburb of Flower Mound. HFF arranged the sale of the property on behalf of the seller, a partnership between TFG Crown Partners and Ball Ventures. Dunhill Partners purchased the asset for an undisclosed amount. Completed in 2007, the 97 percent leased property includes tenants such as Belk, Hobby Lobby, Dick’s Sporting Goods, Old Navy and ULTA Beauty. Situated on 39 acres at 5801-5861 Long Prairie Road, Robertson’s Creek is located less than 30 miles northwest of downtown Dallas and less than 33 miles northeast of downtown Fort Worth. Doug Hazelbaker and Ryan Shore led the HFF investment sales team representing the seller.

November 2, 2015

Multifamily New York Northeast

Avanath Capital Management Acquires Apartment Building Portfolio in Brooklyn for $60M

by Amy Works November 2, 2015

NEW YORK CITY — Avanath Capital Management, in joint partnership with Oak Tree Management, has acquired a four-property multifamily portfolio in Brooklyn. The rent-stabilized apartment buildings sold for $60 million in an off-market transaction. Totaling 149 units, the properties are 50 Greene Ave., 597 Grand Ave., 800 Bergen St. and 471 Vanderbilt Ave. The joint venture plans to implement various improvement and upgrade programs at the properties. The four assets were purchased through Avanath Affordable Housing II LLC, a fund with $200 million of equity commitments.

November 2, 2015

Multifamily New York Northeast

Rosewood Group Brokers Three Sales in New York Totaling $20.7M

by Amy Works November 2, 2015

NEW YORK CITY — Rosewood Realty Group has brokered three apartment building sales in New York totaling $20.7 million. In the first transaction, Aaron Jungreis of Rosewood represented the undisclosed buyer and the undisclosed seller in the $12.5 million sale of 41 sponsor co-op units at 360 Central Ave. in Lawrence, Long Island. The units are part of a 129-unit co-op building that was built in 1973. In the second transaction, Michael Guttman of Rosewood represented the seller, 90 Clermont Avenue LLC, and the undisclosed buyer in the $4.6 million sale of 90 Clermont Ave. in Brooklyn’s Fort Greene neighborhood. Built in 2008, the six-story, 7,648-square-foot elevator building features seven apartments. In the third deal, Jungreis represented the seller, 66 West 138th Street LLC, and the buyer, a local investor, in the sale of an apartment building located at 66 W. 138th St. in Harlem. Built in 1990, the five-story, 10,955-square-foot property features 20 apartments and sold for $3.6 million.

November 2, 2015

Multifamily New York Northeast

Marcus & Millichap Arranges $3.5M Sale of Two Apartment Buildings in Brooklyn

by Amy Works November 2, 2015

NEW YORK CITY — Marcus & Millichap has arranged the sale of two apartment buildings, located at 336-338 Starr St. in Brooklyn. The two six-unit buildings sold for $3.5 million. Shaun Riley, Thomas Shihaden and Daniel Greenblatt of Marcus & Millichap’s Brooklyn office represented the seller, a limited liability company, and the buyer, a limited liability company, in the transaction.

November 2, 2015

Idaho Multifamily Western

EdR and Boise State Complete Agreements for $39.7M On-Campus Housing Development

by Nellie Day October 30, 2015

BOISE, IDAHO — EdR has completed agreements with Boise State University for the $39.7 million development, construction and management of honors college and freshman housing on the Boise State campus. Construction will begin this year, aiming for a July 2017 completion date. The on-campus development will include a four-story building with a 305-bed honors college and 351 additional beds devoted to a freshman live-learn community. Situated on campus adjacent to the Student Union Building and the Recreation Center, it will also include a dining component. Upon completion, EdR will own the residence hall under a 50-year ground lease with Boise State and will manage the facility, while Boise State will provide residence life services. EdR will complete the development through its On-Campus Equity Plan — The ONE Plan — that uses the company’s equity and financial stability to fund projects on university land. This program gives the university access to a single partner, and creates long-term financial benefits for Boise State and EdR. Boise State chose EdR in November 2014 through a competitive process to execute all the aspects of this development — design, construction, finance and management. LCA Architects of Boise will lead the project’s design team, which includes Ayers …

October 30, 2015

Arizona Industrial Western

LKQ Corp. Leases 46,054 SF at Canal Crossing Logistics Center

by Nellie Day October 30, 2015

PHOENIX — LKQ Corp. has leased 46,054 square feet of additional space at Canal Crossing Logistics Center. The building is located at 5670 S. 32nd St. The company now occupies the entire 155,114-square-foot building. LKQ Corp. is an international provider of replacement systems, components, equipment and parts to repair and accessorize automobiles, trucks and recreational and performance vehicles. CBRE’s Mike Parker and Evan Koplan and Jacob Bobek of Avison Young represented LKQ. Jeff Conrad and Allen Lowe, principals with Lee & Associates represented the landlord, Bixby Land Co.

October 30, 2015

California Industrial Western

Covington Group Buys Industrial Facility in Antioch

by Nellie Day October 30, 2015

ANTIOCH, CALIF. — The Covington Group has purchased a 650,000-square-foot industrial facility in Antioch, located in San Francisco’s East Bay region. The two-building property is currently 85 percent leased. The Antioch submarket is known for its logistics groups, warehouse users and light manufacturing companies. This is due to its lower facility costs, a reliable supply of labor and a lower cost of living as compared to San Francisco and Oakland. Covington was attracted to the asset because it allowed the firm to purchase a near-stabilized asset at a discount to replacement cost.

October 30, 2015

Multifamily Texas

Newcor Arranges Sale of 37.8 Acres in Metro Houston

by Haisten Willis October 30, 2015

TOMBALL, TEXAS — David Alexander of Newcor Commercial Real Estate has arranged the purchase and assemblage of four off-market land tracts totaling 37.8 acres near FM 2978 on Bogs Road in Tomball. The site is just south of The Woodlands. Alexander represented the buyer, J. Alan Kent Development, who plans to develop a residential community on the property.

October 30, 2015

Loans Multifamily Texas

Drever Capital Acquires 208-Unit Apartment Complex in Metro Dallas

by Haisten Willis October 30, 2015

SANGER, TEXAS — Drever Capital Management has acquired Trails of Sanger, a 98 percent occupied, 208-unit apartment community in Sanger, from InterCapital Partners. Brian O’ Boyle Sr. and his son, Brian O’ Boyle Jr., with ARA Newmark, brokered the transaction for InterCapital. A prior relationship with lenders Pillar Finance and Fannie Mae also helped Drever Capital assume the existing Fannie Mae loan on Trails of Sanger, according to Darby Keele, asset manager for Cohen Financial LLC of Overland Park, Kan., Fannie Mae’s delegated underwriter on the debt.

October 30, 2015

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