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Phoenix Office of Johnson Capital Arranges $99 Mil in Multifamily Loans During 3rd Qtr 2013 11/22/13 The Phoenix office of Johnson Capital, led by Dave Susank, Neal Churney, CCIM and Don Burnes, arranged 16 different loans for $99 mil secured by multifamily properties during the third quarter of 2013. Year-to-date, the offic...
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CO Retail Property Sells for $229/sf 11/21/13 A 16.4k sf, multi-tenant shopping center in Monument, CO sold for $3.76 mil ($229/sf). Located at 556-590 W. Hwy 105, the center was built in 1995 and is situated on 1.62 acres. Anchored by Safeway (not a part of the sale), t...
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MIG Real Estate Closes Its First Buy in Salt Lake City Area 11/21/13 Newport Beach-based MIG Real Estate just closed on its first acquisition in the Salt Lake City area, purchasing Mountain View Corporate Center, an 84.4k sf, Class A office building in Murray, Utah.
Located at 756 & 764 East...
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Strategic Storage Trust Spends $64 Mil on Two Portfolios 11/20/13 In separate transactions, Strategic Storage Trust Inc (SSTI) – a publicly registered non-traded REIT investing in self-storage properties – recently purchased five self-storage properties located in the greater Dallas/Fort Wo...
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Westminster, CO Retail Asset Goes for $10.8 Mil 11/19/13 Denver-based Gart Investment Company closed on a newsworthy CO retail buy, paying $10.8 mil for Willow Run Shopping Center, a 95.8k sf ($113/sf) retail center in Westminster, CO, a suburb northwest of Denver. Built in 2000 on...
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AZ Apartment Community Fetches $33 Mil 11/19/13 Villamora, a 289-unit apartment community in Chandler, AZ, recently sold for $32.9 mil ($113.8k/unit). The property is located at 2150 South Arizona Ave.
Built in 2001, the two-story, garden-style apartment community offers...
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TEXAS - Steadfast Income REIT Purchases 1,692-Unit Res Portfolio in Houston 11/18/13 Steadfast Income REIT Inc completed a six-property portfolio acquisition in Houston representing 1,692 apartment units. The portfolio was acquired in two phases that closed on October 10 and November 7 of this year. The REIT ...
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TEXAS - 1031 Investor Exchanges into 220-Unit TX Apartment Asset 11/14/13 The Creek on Park Place, a 220-unit apartment complex in the Mid-Cities area of Texas between Dallas and Fort Worth, was acquired by a 1031-exchange investor from the West Coast. The terms of the sale were not released.
Buil...
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Dallas/Ft Worth Apartment Market Strengthening but Looming Development May Temper Demand 11/11/13 Here’s a brief review of the Dallas/Fort Worth apartment market, provided to us by national investment real estate services firm Marcus & Millichap:
The robust local economy will afford apartment owners a few more quarters o...
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Investor Refis Two Vegas Retail Centers 11/07/13 Quantum Capital Partners has arranged new loans to refinance two retail properties in Las Vegas for a private investor. The recent financings consist of a $1.04 mil loan for El Mercado, a 12k sf, L-shaped retail center in eas...
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Hines’ 24th at Camelback II Tower Achieves LEED Platinum Certification 11/06/13 Hines’ 24th at Camelback II office tower has achieved Platinum certification under the U.S. Green Building Council's LEED for Existing Buildings (EB) Rating System. The property, owned by Hines and an East Coast pension fun...
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TEXAS - Johnson Capital Arranges $11.7 Mil on Austin Multifamily Property 11/05/13 Jason Pumpelly, Managing Director in Johnson Capital’s Dallas office, has arranged $11.72 mil in acquisition financing for a 198-unit apartment complex in Austin, TX.
The property, Cascades Apartments, is located on Algarit...
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Buchanan Street Partners Spends $52 Mil on AZ Properties 11/05/13 Buchanan Street Partners purchased a 446k sf commercial real estate portfolio from Carlson Real Estate Company for $52.6 mil ($118/sf). The 10-building portfolio was acquired in four separate transactions and includes a mix o...
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TEXAS - LA Real Estate Funds Manager Opens Houston Office 11/05/13 Los Angeles-based Del Rey Urban Capital LLC, a real estate fund manager and advisory firm focused on acquiring and financing distressed residential properties, has established a satellite office in Houston to acquire and mana...
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Bascom Group Picks Up 624-Unit Asset in Las Vegas 11/04/13 Eagle Crest Apartments, a 624-unit, Class A garden-style multifamily community in Las Vegas, was purchased by the Bascom Group LLC, out of Orange County. The property is located at 5850 Sky Pointe Dr, west of I-15 off Hwy 95 ...
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It's a Goodyear for Lincoln Property Company 11/04/13 Lincoln Property Company (LPC) has announced plans for a second new business park project in Goodyear, AZ, just two weeks after word came out of the initial project. This latest project, called 10 Lincoln, will contain of ove...
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Major U.S. Apartment Markets Doing Well and Are Expected to Continue to Thrive 10/30/13 Fueled by the ongoing economic recovery and resulting job growth, multifamily markets in the western United States continue to shine as the end of 2013 draws near. Furthermore, the apartment sector in the region’s major metro...
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TEXAS - International Buyer Picks Up 168k sf Fort Worth Retail Center 10/25/13 Kroger Shopping Center, a 168k sf, grocery-anchored retail center in Fort Worth, Texas, was purchased by an unnamed international buyer. The shopping center is located in a blue-collar area of Dallas/Fort Worth and was 98-per...
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TEXAS - Hines to Start Work on 1 msf Office Tower in Houston 10/25/13 Hines is set to begin construction on 609 Main at Texas, a 47-story, 1.05 msf office tower at the corner of Main and Texas streets in Downtown Houston, on the Main Street rail line. Site preparation, including the deconstruct...
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Stratford Partners and Pathfinder Partners Pay $15 Mil for Tempe, AZ Multifamily Asset 10/23/13 Dorsey Place, an 84-unit, condominium-style apartment building on East University Drive in Tempe, AZ, sold for nearly $15 mil ($178.5k/unit). San Diego-based Stratford Partners and Pathfinder Partners, which had purchased the...
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