NATIONAL RNR Real Estate Briefs
Realty News Report | may,8 2021
LAWRENCEVILLE, Ga. — CBRE’s Capital Markets Debt & Structured Finance Team has arranged $64,460,000 in financing to acquire The Retreat at Riverside, a 412-unit apartment community in Lawrenceville. Michael Thompson and Tony Tringhese with CBRE’s team in Houston made financial arrangements on behalf of the sponsorship, Ashcroft Capital, to purchase the property. The seller was represented by Shea Campbell, Kevin Geiger, Ashish Cholia and Colleen Hendrix with CBRE Southeast Multifamily in Atlanta. The three-year, 75.5% loan-to-cost, floating-rate loan was provided through Rialto Capital.
COLUMBIA, Md. – Transwestern Real Estate Services has been named the exclusive leasing partner for The Howard Hughes Corp.’s office holdings in Downtown Columbia, Maryland. Transwestern’s Alex Hancock will lead leasing team for the Downtown Columbia office portfolio, which includes 12 office buildings consisting of over 1.8 million SF and over 3.6 million SF of entitled future office development.
DENVER, Colo. – JLL Capital Markets announced it closed the sale of Central Park Tower, a 297,262 SF, Class AA suburban office structure in the Denver metro area community of Broomfield, Colo. JLL marketed the property and procured the buyer, a joint venture between Ascentris and Cypress Office Properties.
CHICAGO, Ill. — B+E brokerage announced the sale of the RoadHog Industrial manufacturing property at 464 Southpoint Circle, Brownsburg, Ind., for $4,050,000. The 64,175 SF building sits on 6.15 acres.
IRVINE, Calif. – In a major expansion of its portfolio of business properties, The Koll Company announced the completion of more than $110 million in real estate investments and industrial growth throughout the western United States. The acquisitions and expansion added more than 700,000 SF to the firm’s multistate portfolio, which totals more than 4.5 million SF.
NEW YORK, N.Y. — JLL Hotels & Hospitality announced it has closed the sale of Shoreham, a 179-room boutique hotel in Midtown Manhattan. The sale represents the fifth asset JLL Hotels has advised on in New York City since September 2020.
CHANDLER, Ariz. — Kula Revolving Sushi Bar has leased 3,311 SF of retail space in Chandler Ranch from NewQuest Properties. Heather Nguyen and John Nguyen of NewQuest represented the landlord. David Uhles of Western Retail Advisors worked on behalf of the tenant.
NEWARK, N.J. – Newark Symphony Hall New Jersey’s largest Black-led arts and entertainment venue, unveiled designs for its exterior renovation – part of a $50 million project set to wrap on the venue’s 100th birthday in 2025. The design, from Trenton, N.J.-based architectural firm Clarke Caton Hintz includes a new marquee and streetscape. Design upgrades make Broad Street – a gateway into the state’s largest city – a distinct visual marker highlighting Newark’s creativity and ingenuity. NSH – located at 1020 Broad St. in Newark – was built in 1925 and added to the National Register of Historic Places in 1977.
ALBUQUERQUE – The Multifamily Group (TMG), a Dallas-based firm facilitated of the 79-unit Uptown Horizon’s sale in Albuquerque. Managing Partner Paul Yazbeck represented the seller and procured the buyer.