Atlas Acquires KC Site
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| The Dallas office of HFF arranged $1.8M in financing for the acquisition of 27 units at Liberty Lofts, a fractured condominium development in Kansas City, Mo. HFF associate director Adam Herrin worked exclusively on behalf of the borrower, Atlas Properties, to secure the five-year, construction mini-perm loan through Mutual of Omaha Bank. Loan proceeds were used to acquire the 27 vacant units and complete the remaining construction that the original developer did not complete. The condos will be completed and repositioned as rental units, Adam tells us. | |
Leasing News Cushman & Wakefield's US industrial MarketBeat report shows the DFW industrial market ranked ninth in the nation in leasing activity with 2.6M SF. Greater Los Angeles came in first with 8.2M SF leased followed by Inland Empire, Chicago, Atlanta and Houston rounding out the top five. Leasing activity took a breather during first quarter but at least three major leases during 2Q10, each over 100k SF show DFW will soon regain its form, according to the report | |
Leases Jones Lang LaSalle worked a number of deals across the Metroplex:
*** Tio Carlos Restaurant & Bar relocated its restaurant to Henry S. Miller's Towne North Shopping Center at 3601 Beltline Road in Irving. The restaurant leased 6k SF. The landlord, Towne North Shopping Center Partners, Ltd. was represented by Henry S. Miller Brokerage assistant VP Kent Arnold and VP Henry S. Miller IV. Coldwell Banker Residential's Shelley Harber repped the restaurant. *** The Dallas office of Grubb & Ellis Company recently completed a number of deals with Sean Dalton and Russ Johnson working three transactions including:
Grubb & Ellis' Heather Shover and Chris Wright partnered in a pair of transactions including:
Grubb & Ellis did some tenant rep, too, including:
*** CB Richard Ellis negotiated several lease deals including:
*** The Retail Connection worked two leases.
*** Transwestern's office handled a number of deals with multiple brokers including:
Transwestern's Justin Miller represented KBS Realty Advisors, the landlord, in the following deals:
Justin and Kim worked with colleague Matt Didyk to represent the landlord, Equastone in the following deals:
*** Bradford Commercial Real Estate Services inked several deals including:
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Sales Excel Trust, Inc., a retail focused REIT acquired 5000 South Hulen Shopping Center in Fort Worth for $22M. The 87k SF multi-tenant shopping center, anchored by Old Navy and Barnes & Noble becomes the fifth property in the newly formed REIT's portfolio, which already includes the properties of Five Forks Place, Newport Towne Center, Excel Centre and Red Rock Commons. *** Centric Capital Partners purchased the Ebby Halliday Realtors Building, 7520 MacArthur Blvd. in Irving from Reef Properties, Inc. The 10k SF net-leased building sits on an acre of land. The property was purchased for long term investment purposes. Marcus & Millichap's Jason Vitorino brokered the transaction. *** Weathers Beltwood acquired a 54k SF office/warehouse at 4335 N. Beltwood in Farmers Branch. Capital Property Advisors' Tony Gilbert represented the purchaser. Studley's Ric Kanatzar and Adam Petrillo represented the seller, Lawson Products. *** A private investor purchased 3k SF of office space from CitiBank at 3011 College Ave. in Snyder. CBRE's Steve Rigby, Peter Danna,Baron Aldrine, and Mike Kay repped the seller. *** TIG Real Estate Services, Inc. arranged the sale of a 12k SF industrial/flex building at 4808 S. Buckner Boulevard in Dallas. TIG's Ryan Wolcott and Michael T. Grant represented the building owner, Hartys Properties, L.P. *** Henry S. Miller Brokerage's Rowan Sbaiti represented the seller in the sale of the 7k SF Boca Bargoons retail building on two acres at 1855 North Central Expressway. The property traded hands between two unidentified owner users. Residential Locators' Beverlee Heintges represented the buyer. | |
Business Acquisitions An investment group led by Dallas-based ORIX-USA Corporation and including Stonehenge Partners of Columbus, Ohio, acquired Red Capital Group from PNC Bank, N.A. Terms of the transaction were not disclosed. Red Capital Group provides financing for multifamily,senior living and health care projects through various FHA and Fannie Mae programs and includes a registered broker-dealer that provides underwriting and syndication of multifamily housing bonds and the related tax credits. People Jason Piering, former CB Richard Ellis' Debt and Equity Finance VP, joined Quadrant Realty Finance to manage its debt and equity platform. Since 1997, Jason has worked in commercial real estate finance. In his new role, he will provide debt and equity advisory services and help expand Quadrant's distressed commercial debt investment program. Prior to CBRE, he worked for Goldman Sachs Commercial Mortgage Capital (formerly Archon Financial), where he analyzed and closed CMBS transactions. *** Bret Messer joins the Stewardship Commercial Management team as a portfolio manager in the property management division. He has more than 24 years of experience in commercial real estate with a primary focus in value enhancement. Bret has worked 12 years in the Tarrant County Market and 12 years in the Austin/San Antonio Market. During his career he has managed several office building portfolios including San Jacinto Center in Downtown Austin overlooking Town Lake. Prior to joining SCM, Bret worked for Centra Asset Partners, Equity Office Properties, and Pyramid Properties. *** Hudson Peters Commercial VP Debi Carter earned her CCIM designation last month. Debi began her career with a local developer where she began as a leasing agent and later became a partner. *** Karra Guess, formerly of The Staubach Company/Jones Lang LaSalle in Dallas, joined Transwestern as managing director and will lead the firm's Central region Tenant Advisory Services practice. She will serve clients throughout the DFW marketplace, as well as multi-market clients. Karra held a variety of positions within The Staubach Company ultimately serving as SVP and COO. New Business Perkins Coie law firm opened a new office in downtown Dallas, inking a 4k SF lease in the Trammell Crow Center. This is the first Perkins Coie office in Texas; Steven R. Smith has been named the partner-in-charge. This new office will focus on serving clients with real estate workouts and lending needs. Crescent's Katy Cleary represented the owner, C-W #11 Limited Partnership (an affiliate of Crescent Real Estate Holdings LLC), while CBRE's Phil Puckett and Michelle Donaldson represented Perkins Coie. *** KAI Texas has been selected as the project designer for the new home for the National Multicultural Western Heritage Museum in Fort Worth. KAI will guide the architectural design for a multi-million dollar renovation to a 31k SF space at 3520 E. Berry St. that will house the new museum. The facility opens in 2013. *** The Dallas office of HFF has been named to market for sale a 16-building, 2M SF, 99.7% leased industrial portfolio located in Oklahoma City and Tulsa. The HFF investment sales team will be led by managing director Jud Clements and director Robby Rieke who are marketing the portfolio on behalf of the seller, The Gardner Tanenbaum Group, which is based in Oklahoma City. The portfolio is being offered in two separate sub-portfolios as the portfolio is encumbered with two assumable debt options that run through March 2015 and January 2016. The two portfolios are being offered individually or as a single portfolio transaction. The portfolio is currently leased to 40 tenants with an average remaining lease term of approximately five years. |
