more_sales_and_leases

Signorelli-Company-The-Shops-at-Aspen-Creek

Signorelli Co. Sells Land for Mixed-Use Development in Metro Tulsa to Griffin Properties

by Haisten Willis January 12, 2015

BROKEN ARROW, OKLA. — The Signorelli Co. has sold a 12.2-acre site for a mixed-use development known as The Shops at Aspen Creek to Griffin Properties of Fort Smith, Ark. The Shops at Aspen Creek is planned to include more than 1 million square feet of shopping, dining and entertainment options. The site is located 12 minutes from downtown Tulsa in Broken Arrow. Construction of the 277-unit apartment complex, named The Reserve at Aspen Creek, is planned to begin in June, with the opening anticipated in mid-2016. Situated at the east end of The Shops at Aspen Creek, with entrances from West Tucson Street and West Aspen Creek Drive, the complex will be three stories tall. Trinity Multifamily, the operating partner of Griffin Properties, will manage the apartments. The entertainment anchor at The Shops at Aspen Creek includes the Warren Theatre, a new 18-screen movie theatre boasting a screen 100 feet wide and 50 feet tall. The theatre opened in December.

January 12, 2015

HLC Equity Purchases 154-Unit Apartment Complex in Metro Dallas

by Haisten Willis January 12, 2015

GRAND PRAIRIE, TEXAS — HLC Equity has purchased Windscape Apartments, a 154-unit, Class-B, garden-style apartment complex in Grand Prairie. Mosaic Realty Partners will co-manage the property along with an HLC Equity affiliate. Windscape is less than a 30-minute drive from both Dallas and Fort Worth. The property is located near several major highways and mass transit options. It also includes access to Globe Life Park, AT&T Stadium and a Six Flags Over Texas. Amenities at the property include a clubhouse, 24-hour fitness center, swimming pool, Jacuzzi, waterfall and a barbecue/picnic area.

January 12, 2015

Illinois Industrial Midwest

Brennan Investment Group, Goldman Sachs Acquire 23-Building Industrial Portfolio

by Danielle Everson January 12, 2015

CHICAGO — Brennan Investment Group LLC, in a joint venture with Goldman Sachs, has acquired a 23-building, 4.68 million-square-foot industrial portfolio for an undisclosed price. The properties, located throughout the Chicago metropolitan area, were purchased from Mirvac Industrial Trust, an Australian public REIT. CBRE and the Macquarie Group represented the seller in the transaction.

January 12, 2015

Multifamily North Carolina Southeast

ARA Brokers Sale of Notting Hill Apartment Community in Chapel Hill

by John Nelson January 12, 2015

CHAPEL HILL, N.C. — ARA has brokered the sale of Notting Hill, a 200-unit, Class A apartment community in Chapel Hill. Dean Smith, Blake Okland, Sean Wood and John Heimburger of ARA represented the seller, a Dallas-based private real estate fund advised by Crow Holdings Capital-Real Estate. Atlanta-based Carroll Organization purchased the apartment community in a joint venture agreement with AIMS Real Estate for an undisclosed price. Carroll Management Group will manage the apartment property, which was 95 percent occupied at the time of sale. The property’s amenity package includes a swimming pool, business center, fitness center, tennis court, playground, car care center, laundry center and coffee lounge. Built in 2000, the property is comprised of one-, two- and three-bedroom units.

January 12, 2015

171 17th Street Atlanta Atlantic Station

Georgia Office Southeast

Georgia Tech Research Signs 24,829 SF Office Lease in Atlantic Station

by John Nelson January 12, 2015

ATLANTA — KBS Real Estate Investment Trust III (KBS REIT III) has signed a 24,829-square-foot office lease with Georgia Tech Research Corp. (GTRC) at 171 17th St. in Atlanta. The 21-story, Class A office tower at 171 17th St. is located in the Atlantic Station mixed-use development. The office building was the first LEED Silver Core and Shell-certified building in the world, according to KBS REIT III. Glenn Kolker and Sonia Winfield of Cassidy Turley represented KBS REIT III in the lease transaction.

January 12, 2015

Healthcare Michigan Midwest Office

Friedman Arranges Sale of 44,833 SF Medical/Office Building in Novi, Mich.

by Danielle Everson January 9, 2015

NOVI, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of Premier Medical Office, a 44,833-square-foot medical/office building located at 44000 W. 12 Mile Road in Novi. Griffin-American Healthcare REIT III Holdings LP purchased the property for an undisclosed sales price. Built in 2006, the two-story building is occupied by a collection of physician practices. Barry Swatsenbarg and Richard Deptula of Friedman represented the seller and the buyer in the transaction.

January 9, 2015

Multifamily Texas

The RADCO Cos. Acquires Three Texas Apartment Complexes Totaling 916 Units

by Haisten Willis January 9, 2015

HOUSTON AND SAN ANTONIO — The RADCO Cos. has acquired a three-property multifamily portfolio containing a total of 916 units in Houston and San Antonio. The 122-unit Country Place and the 458-unit Saddle Ridge are both located in Houston, while the 336-unit Trails of Westlakes is located in San Antonio. The properties were built between 1975 and 1984 and were foreclosed upon in 2011 by Fannie Mae, which was the seller. RADCO financed the acquisitions with a mixture of bridge debt and private equity. PCCP LLC. and Oklahoma Fidelity Bank provided the debt. The 17-building Country Place is located on Houston’s west side in the center of the city’s energy corridor, three miles east of Beltway 8. Saddle Ridge is located in Houston’s Northshore/Wood Forest submarket with access to the city’s central business district and the Port of Houston. Trails of Westlakes is located in western San Antonio. RADCO will invest $12.2 million to upgrade interiors at all three properties. The company will also improve the building exteriors and expand the amenity packages.

January 9, 2015

Multifamily Texas

NorthMarq Arranges $20M Refinancing of Apartment Complex in Metro Houston

by Haisten Willis January 9, 2015

LEAGUE CITY, TEXAS — NorthMarq Capital’s Kansas City office has completed the $20 million refinancing of Grand Villas at Tuscan Lakes, a 206-unit multifamily property located at 1800 S. Egret Bay Blvd. in League City. The 10-year loan includes five years of interest-only payments and a 30-year amortization schedule. Greg Duvall of NorthMarq arranged financing through its seller/servicer relationship with Freddie Mac.

January 9, 2015

Office Texas

GLL Real Estate Partners Acquires Office Property in Austin

by Haisten Willis January 9, 2015

AUSTIN, TEXAS — GLL Real Estate Partners has acquired Prominent Pointe I and II, a pair of mid-rise office buildings at 8310 N. Capital of Texas Highway in northwest Austin. San Francisco-based Divco West was the seller. Prominent Pointe I and II total 256,027 square feet of Class A office space. Current tenants include IXIA, JMJ Associates, Sony Online, UTC Fire and Security Americas, Texas Hospital Insurance Exchange and the law firm of Naman, Howell, Smith & Lee. Prominent Pointe I was built in 1985 and renovated in 2013. Prominent Pointe II was completed in 2008. The complex offers more than 900 parking spots, most of which are located in a central parking structure.

January 9, 2015

Healthcare New Jersey Northeast Office

United Realty Trust Acquires 90,000 SF Medical Headquarters in New Jersey

by Amy Works January 9, 2015

CHERRY HILL, N.J. — United Realty Trust Inc. has acquired a medical office property located at 7 Carnegie Plaza in Cherry Hill. FRS Carnegie Plaza LLC sold the 90,000-square-foot property sold for $9.3 million. Built in 1988 and last renovated in 2009, the property is fully occupied by Fox Rehabilitation Services, a provider of physical, occupational and speech therapy services. Situated on 17.4 acres, the property provides infrastructure for more than 700 employees and includes 559 onsite outdoor parking spaces. United Realty Trust financed the acquisition in part through a $5.5 million first mortgage loan and a $1.8 million mezzanine loan.

January 9, 2015

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