more_sales_and_leases

Marcus & Millichap Arranges Sale of Apartment Building in Metro Dallas

by Haisten Willis January 16, 2015

EULESS, TEXAS — Marcus & Millichap has arranged the sale of Oakwood Crest Apartment Homes, a 96-unit apartment property located in Euless. John Barker of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Barker and Alexander Skotarek, also of the firm’s Fort Worth office, represented the buyer, a private investor. Oakwood Crest Apartment Homes is located at 307 Martha St. The property features five, one-story buildings, one, two-story building and includes 96 units.

January 16, 2015

Waypoint Residential Purchases Apartment Community in Augusta

by John Nelson January 16, 2015

AUGUSTA, GA. — Waypoint Residential has acquired the Estates at Perimeter, a 240-unit, Class A apartment community located at 50 St. Andrews Drive in Augusta. Built in 2007, the property was 97 percent occupied at the time of sale. The community’s amenities include a saltwater swimming pool, 24-hour fitness center, business center, media room, playground and a newly decorated clubhouse. Waypoint plans to upgrade the units with new lighting packages, plantation blinds, ceiling fans and faux wood flooring in the kitchens and baths. In addition, amenities will be improved and a pet park will be added at the property. The Estates at Perimeter is Waypoint’s third acquisition in the state of Georgia. Waypoint also manages The Hamptons at East Cobb in Marietta and Village on the Green Apartments in Atlanta.

January 16, 2015

Lincoln Center Planet Home Lending Tampa

Florida Office Southeast

Planet Home Lending Leases Third Floor of Lincoln Center in Tampa

by John Nelson January 16, 2015

TAMPA, FLA. — Planet Home Lending has leased the entire third floor of Lincoln Center, an office building in Tampa’s Westshore district. The company is relocating its branch location from Clearwater with the 22,450-square-foot space. Pat Marzulli of Colliers International’s Tampa Bay office represented Planet Home Lending in the lease transaction. Pat McGuire and Katy Alderman of Redstone Asset Management Services LLC represented the landlord, St. Paul Fire and Marine Insurance Co. Planet Home Lending is currently overseeing improvements to the space in Lincoln Tower. The organization is expected to complete renovations and move into the office space during the first quarter of 2015.

January 16, 2015

California Office Western

Tech Start-Up Wish Leases Office Space in San Francisco

by Nellie Day January 15, 2015

SAN FRANCISCO – A locally based tech start-up company called Wish has leased 54,501 square feet of office space in San Francisco. The Class A space is located at 1 Sansome Street. The mobile commerce platform is doing business as ContextLogic. The landlord is Prudential Real Estate Investors. Wish was represented by DTZ’s Jason Burch, Jim Chesler and Charlie Moore.

January 15, 2015

Retail Texas

M&M Arranges Sale of 9,000 SF Retail Property in Metro Dallas

by Haisten Willis January 15, 2015

ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of a Walmart shadow-anchored retail center, a 9,000-square foot property located in Arlington. Jason Vitorino and Jared Aubrey of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Vitorino and Aubrey also procured the buyer, a limited liability company. Farhan Kabani of Mark One Capital’s Dallas office arranged the acquisition financing. The property is located at 1140 Bardin Road, less than one mile south of I-20. Built in 2004, the asset is situated in a major retail corridor. Surrounding retailers include Walmart, Home Depot, Lowe’s Home Improvement, Burlington Coat Factory, Hobby Lobby, Ross Dress for Less, Dollar Tree, Fry’s, Michaels, Best Buy and Party City. The property was 100 percent occupied at the time of listing.

January 15, 2015

Restaurant Retail Texas

Brooklyn Crust & Bistro Opens at Mustang Square in Metro Dallas

by Haisten Willis January 15, 2015

GRAPEVINE, TEXAS — Irving-based Realty Capital Management LLC has leased 2,250 square feet of restaurant space to Brooklyn Crust & Bistro in Mustang Square, which is located on Highway 26 at Mustang Drive in Grapevine. The restaurant is the newest endeavor of Chef Sage Sakiri, known for his cuisine at Café Panache and Red Sage Bistro. Brooklyn Crust & Bistro will be a casual dining experience featuring New York-style pizza, as well as other dishes by Chef Sage. Mark Boone of Realty Capital Management represented the landlord and tenant in this transaction.

January 15, 2015

Multifamily Texas

CBRE Brokers Sale of Broadstone Colonnade in San Antonio

by Haisten Willis January 15, 2015

SAN ANTONIO — CBRE Capital Markets’ multifamily team has brokered the sale of Broadstone Colonnade on behalf of Kansas City-based Price Development Group. An unnamed buyer purchased the 282-unit, Class A multifamily asset for an undisclosed price. Broadstone Colonnade is located at 4330 Spectrum One in San Antonio. The property is made up of 282 one-, two- and three-bedroom units in eight floor plans. It is located within an infill area off of I-10, between Loops 410 and 1604. Residents have direct access to many employment centers, restaurants, retail and healthcare. Community amenities include a swimming pool with fountains, upscale fitness center, cyber lounge with computer stations, cabana area with grills and an indoor basketball court. In the last two years, capital improvements have been completed to the exterior, including new roofs, exterior paint, gutters and window screens. Charles Cirar, Ryan Epstein and Michael Wardlaw of CBRE represented the seller.

January 15, 2015

Loans Multifamily New York Northeast Seniors Housing

HHC Finance Secures $47M in Acquisition Financing for Brooklyn Seniors Housing Facility

by Amy Works January 15, 2015

NEW YORK CITY — Housing & Healthcare Finance (HHC Finance) has closed and funded a $47 million loan for the acquisition of The Phoenix Center for Rehabilitation and Nursing, formerly Atlantis Rehab Center, in Brooklyn’s Fort Greene section. CareRite Centers purchased the 11-story, 400-bed skilled nursing facility, which overlooks Fort Greene Park and is adjacent to Brooklyn Hospital. The facility provides short-term rehab, respiratory care, IV therapy, wound care, long-term healthcare and hospice care services. The acquisition financing comprised a $41.6 million first mortgage and a $5.2 million mezzanine loan provided by HHC Finance. Additionally, the overall financing package included a $4 million accounts receivable line of credit.

January 15, 2015

Connecticut Northeast Office

Deloitte Takes 117,700 SF at BLT Financial Centre in Connecticut

by Amy Works January 15, 2015

STAMFORD, CONN. — Deloitte has taken occupancy of its new offices at BLT Financial Centre at 200 Elm St. in downtown Stamford. The 117,700-square-foot space was tailored to accommodate Deloitte’s Next Generation Workplace, a collaborative environment with flexible workstations. BLT Financial Centre recently underwent a comprehensive renovation and repositioning program. The property comprises two six-story interconnected buildings and features a four-story glass atrium main lobby and 1,400 covered parking spaces. Building and Land Technology owns the 594,000-square-foot property, which it acquired in 2011.

January 15, 2015

Florida Multifamily Southeast

Northland Investment Corp. Buys Two Apartment Communities in Florida

by John Nelson January 15, 2015

COCONUT CREEK AND WEST PALM BEACH, FLA. — Northland Investment Corp. has acquired two apartment communities in Coconut Creek and West Palm Beach. The two properties include the 300-unit Cypress Shores in Coconut Creek and the 202-unit Village Place in West Palm Beach. Cypress Shores’ amenities include a pool and poolside Wi-Fi, picnic areas, a fitness center, tennis and sand volleyball courts, car wash bay and three lakes with fountains. At Village Place, the amenities include a computer lounge, area for barbeques and picnics, multipurpose court for sports and recreation, swimming pool, dog park and a fitness center. With these two transactions, Northland now owns and operates 20 properties spanning 5,600 apartment units in Florida.

January 15, 2015

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