IRVINE, CALIF. – LoanDepot has doubled the size of its largest online direct-lending production center in Orange County. The consumer lender increased its space from 131,267 square feet to 238,732 square feet. It now maintains a total of 885,162 square feet of office space nationwide. The company has direct-lending production centers in Plano, Texas, Brentwood, Tenn., and Scottsdale, Ariz. The company also plans to hire an additional 1,000 employees.
LOS ANGELES – Kinetic Content has leased 57,000 square feet of creative office space in Los Angeles. The television production company leased 37,000 square feet at 11755 Wilshire Blvd. It will be expanding at this property. The second new lease includes 20,000 square feet just down the street at 12100 Wilshire Blvd. Kinetic Content was represented by Jacob Bobek and Jeff Vertun of Avison Young. CBRE represented the landlord, CalSTRS, in the first lease transaction. The second landlord, Hines, represented itself.
ATLANTA — Atlanta Property Group (APG), an Atlanta-based real estate investment firm, has closed on its acquisition of Securities Centre, a two-building, 531,000-square-foot office campus in Atlanta’s Buckhead submarket. The campus is located at 3490 and 3500 Piedmont Road near the intersection of Piedmont and Lenox roads. APG purchased the office complex from LNR Partners, which had foreclosed on the property in November 2011. APG has purchased 10 office properties spanning 3 million square feet in the metro Atlanta area since mid-2010. APG will lease and manage Securities Centre, with plans to complete a multi-million dollar renovation to the property during its first year of ownership. JLL represented LNR Partners in the transaction.
STONE MOUNTAIN, GA. — Crown Bay Group LLC, a Boca Raton, Fla.-based real estate investment and management firm, has purchased Wynview Apartments on Central Drive in Stone Mountain for $3.9 million. This is the company’s first acquisition in the Atlanta area. The garden-style apartment community is situated on a park-like lot and features a swimming pool. Crown Bay Group plans to renovate the property and rebrand it as Parc Central. The renovation will include the upgrade of unit interiors, the addition of new amenities including a playground, picnic area near the pool and a community room that will also house a business center.
BOSTON — CBRE/New England has arranged the sale of 186 Lincoln Street, an office building located in Boston’s South Station micro market. Morris & Morse Co. sold the property to New York-based Brickman Real Estate for $20.6 million. At the time of sale, the 68,526-square-foot property was 70 percent occupied by a variety of tenants, including Roche Diagnostics, Full Contact and Greystone Solutions. Chris Angelone, John Meador, Bruce Lusa and Jessica Dowd of CBRE/NE represented the seller in the transaction. Carlos Febres-Mazzei, Kyle Juszczyszyn, Alex Bradley and Taylor Shepard of CBRE/NE’s Debt & Structured Finance team secured acquisition financing for the buyer.
PHILADELPHIA — Philadelphia Hospitality Partners L.P. has sold a majority interest of the Ritz-Carlton Philadelphia to Carey Watermark Investors Inc. The 299-room hotel features 26,000 square feet of meeting space, two food and beverage outlets and the Richel D’Ambra Spa and Salon. The new owner plans to implement a comprehensive $21.3 million, or $71,000 per key, renovation of the property beginning in the third quarter. The Ritz-Carlton Hotel Company will continue to manage the property. Hodges Ward Elliott represented the seller in the transaction. Financial terms of the sale were not released.
IRVING, TEXAS — Marcus & Millichap has arranged the sale of Golden Corral, a 9,611-square foot net-leased restaurant located in Irving. Jason Vitorino and Jared Aubrey of Marcus & Millichap’s Dallas office procured the buyer, a private investor. Golden Corral is located at 1701 N. Belt line Road. The asset is situated on 1.5 acres south of Willow Creek Drive. Retailers and restaurants such as Popeye’s Louisiana Kitchen, Wendy’s, QuikTrip, NAPA Auto Parts and Sonic Drive-In are located near the Golden Corral.
HOUSTON — Panther FW Investments, in partnership with a Texas-based multifamily investment group, has purchased a 671-unit apartment complex in Houston. Morgan West Oaks Apartments is located at 2400 Briarwest Blvd. Panther’s business plan is to increase rental revenue through an interior rehabilitation program and exterior improvements. Panther FW Investments LLC is a private real estate investment company based in Fort Worth. Started by Tommy Pigg, Doug Kincaid and Ben Loughry, Panther focuses on direct acquisitions and investing in third-party real estate partnerships.
HOUSTON — NAI Partners represented Heritage Texas Properties LP in the lease renewal of 20,272 square feet of office space located at the 1177 West Loop South building in Houston. Dan Boyles Jr. and Liz Westscott-Brown of NAI Partners represented Heritage Texas Properties during the lease negotiations. Michael Sieger and Wade Bowlin of RMRG | RM Realty Group represented the landlord, Spire Realty Group.
HOOVER, ALA. — Rock Apartment Advisors has brokered the sale of two apartment communities in Hoover. Cleveland-based Zaremba Management Co. purchased the assets, known as Crowne Falls and Crowne at Galleria Woods Apartments, from Birmingham-based Vista Communities LLC. The two properties are Zaremba’s first multifamily properties in the state of Alabama. Bo Flurry and Justin Uffinger of Birmingham-based Rock Apartment Advisors brokered the transaction. The transaction is the second portion of a $75 million portfolio deal totaling 696 apartment units.