Author: Sarah

Stream Realty Partners Helps Empire Holdings Sell 9 Warehouses

Posted on by Sarah

FORT WORTH, TEXAS – Oct. 20, 2022 – With assistance from Stream Realty Partners and Stan Johnson Company, Empire Holdings has sold a nine-building national industrial portfolio to Philadelphia-based Arden Group, a leading U.S. middle-market real estate fund manager.

Arden Group purchased the approximately 350,000-square-foot, single-tenant portfolio that includes assets across five states. Ranging from 16,000 square feet to 150,000 square feet, the properties are strategically located in major industrial markets with low building coverage and boast outside storage or excess land with opportunities for future growth or expansion. Stream Executive Managing Director and Partner Seth Koschak and Vice President of the Fort Worth Industrial division Jeff Rein represented the seller in the transaction. The national real estate services, development, and investment company is based in Texas, where five of the nine warehouses are located. In addition, Zach Harris and Jeff Hughes of Stan Johnson Company partnered with Stream to co-represent the seller in the transaction.

“After an extensive evaluation of the nation’s top brokerage teams to assist with this sales process, we selected Stream Realty and Stan Johnson Company as our trusted partners,” said Bowie Holland, president of Empire Holdings. “We were particularly impressed with their substantial due diligence on our portfolio and the innovative marketing strategies they brought to the table. We look forward to many more collaborations in the future.”

The deal included eight freestanding net-leased industrial buildings in the Texas markets of Dallas-Fort Worth, Houston, Austin, and San Antonio as well as Fort Lauderdale, Florida; Memphis, Tennessee; Atlanta, Georgia; and Tulsa, Oklahoma. A speculative industrial building in Houston that just completed construction also was part of the transaction.

“With the supply of available IOS properties becoming more limited, this portfolio represented a unique opportunity to acquire stabilized outside storage assets throughout strategic markets nationally,” Rein said. “Empire Holdings is an experienced operator, which is reflected throughout the portfolio with well-maintained buildings and above-standard finishes. We are excited to have identified a partner in Arden Group with their growing presence and focus within the IOS / ISF sector.”

Buildings in more than two-thirds of the portfolio were built between 1999 and now. All offer stable tenancy in their respective markets.

“This portfolio acquisition is part of our investment focus on Industrial Service Facilities (ISF), including industrial outdoor storage sites, truck terminals, trailer parking and last mile port facilities in core U.S. markets,” said Christian Vergilio, Director of Acquisitions for Arden Logistics Parks.

Arden recently formed a $1B Joint Venture specifically focused on acquiring ISFs, or low site coverage industrial assets, situated in dense, infill locations. “The Empire Portfolio is emblematic of the types of partnerships we are looking to form with users in the ISF space and we look forward to continuing the relationship with the team,” Vergilio noted. Koschak, along with Executive Managing Director and Partner Matteson Hamilton, helped Stream expand its national platform in February 2022 by launching an Industrial Capital Markets division beginning in Texas. The service centralizes the investment sale process for transactions such as the Empire Holdings deal to create

opportunity and value for the firm’s clients. The group specializes in investment sales and acquisitions, equity and fund placement, debt placement, and other services that provide real-time market data and trend analysis.

About Stream Realty Partners

Stream Realty Partners is a full-service commercial real estate firm with integrated offerings in leasing, property management, tenant representation, development, construction management, investment sales, and investment management services. Headquartered in Dallas, Stream is dedicated to sourcing acquisition and development opportunities for the firm and its clients. Since 1996, the company has grown to a staff of more than 1,100 professionals with offices in Atlanta, Austin, the Carolinas, Chicago, Dallas, Denver, Fort Worth, Houston, Greater Los Angeles, Nashville, Northern Virginia, Phoenix, San Antonio, and Washington, D.C. Stream completes more than $5.8 billion in real estate transactions annually and is an active investor and developer across the nation. Visit www.streamrealty.com.

About Arden Group

Arden Group is a privately held, vertically integrated real estate company and private fund manager focused on acquiring, developing, and managing industrial, hotels, office, multi-family and student housing real estate assets in the top 25 U.S. MSAs and dynamic growth markets. Founded in 1989, Arden has acquired $7 billion of properties and asset managed $12 billion of commercial real estate assets. Arden Group is headquartered in Philadelphia, with 10 offices including New York, Boston, Tampa, Miami, Dallas, and Newport Beach. Arden’s fund management platform has been consistently ranked globally as a top performing Private Real Estate Fund Manager by both Cambridge Associates and Preqin including Preqin’s #1 global ranking in 2017, 2018 and 2019. For more information, visit www.ardengroup.com.

About Empire Holdings

Empire Holdings is a commercial real estate developer that specializes in single-tenant, build-to-suit industrial properties with design, technology, and innovation at the forefront. Backed by a powerhouse team led by 40-year commercial real estate industry vet Sandra McGlothin, Empire Holdings is changing the way commercial industrial spaces are built. Together, the team has already led Empire Holdings to acquire and develop more than 100 properties spanning 1.1 million square feet across five states, with a primary focus on Texas.

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CONTACT:
Brian J. Medricka
Stream Realty Partners
Director, National Communications, Public & Media Relations
214.560.3033

Campus Life & Style Awarded Management of Two Assets

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CLS announces it has been awarded the management of two properties, in their continued relationship with Orion Student Housing

AUSTIN, TX — October 17, 2022. Austin-based Campus Life & Style (CLS) — one of the nation’s leading student housing property management firm, announced this week it has been awarded the management of The Cove at Coastal Carolina, a 396-bed property in Conway, SC and University Edge in Waco, TX, a 236-bed property. As of today, both properties are occupied at
98% and 99% respectively.

The Cove is located just minutes from Coastal Carolina University, a short walk from downtown Conway and a quick drive to Myrtle Beach, The Cove offers sophisticated student living that’s truly in a league of its own.

University Edge, located just minutes from Baylor University, offers sophisticated student living that’s truly in a league of its own. Within our community, residents and their friends enjoy our resort-style pool, state-of-the-art fitness center and full-size basketball and volleyball courts.

“We are proud and excited that our successful partnership has yielded more opportunities,” stated Jim Sholders, Chief Executive Officer of CLS. Mr. Sholders added, “CLS performs on its clients’ vision to exact standards without compromise, resulting in market leading occupancies and rent growth. We are excited to partner with Orion Student Housing on these additional deals to create additional real estate value for their assets as we have for ours.” Orion is a joint venture between WFI and Wills Companies focused on the student housing sector.

Collectively, CLS’s leadership has overseen the management and repositioning of approximately $12B in student housing, creating tremendous value for owners, partners, and investors. CLS manages a student housing portfolio consisting of over 28,000 beds inclusive of this latest assignment. The CLS team has built a best-in-class operating platform consisting of exceptionally talented personnel dedicated to providing residents with industry-leading customer service. CLS is the only student housing management company in the U.S. to have participated in The Forbes Travel Guide’s global training platform focused on five-star hospitality and concierge services.

CLS’ select third-party management offering provides clients with an unmatched level of attention, along with unsurpassed talent, knowledge, creativity, and standards of excellence.

“Our third-party management offering provides our clients with an unmatched level of attention, along with unsurpassed talent, knowledge, creativity, and standards of excellence”, said Elliot Tamir, Co-Founder of Vesper Holdings and Campus Life and Style.

CLS partners with every client-owner, using its own assets to bring best-in-class practices in operations, marketing, leasing and every aspect of property development and management to bear for their properties. Besides creative, out-of-the-box thinking, luxe environments and excellence in every aspect of property management, CLS provides world-class service.

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About Campus Life & Style

Founded in 2015, Campus Life & Style is Vesper Holdings’ property management subsidiary based in Austin, Texas. As one of the largest student housing operators in the industry, CLS manages a portfolio consisting of 60 communities that total over 28,000 beds. CLS’ senior leadership team features one of the most experienced and respected line-ups of student housing professionals in the United States. CLS is helmed by industry veteran Jim Sholders. Prior to joining CLS, Mr. Sholders served as a top executive at American Campus Communities (ACC) and was responsible for the overall fiscal operations, asset management, leasing, and personnel supervision of ACC’s entire owned portfolio.

For more information about Campus Life & Style, visit www.clsliving.com.

Colliers Mortgage Arranges $38M Refinance for Luxury Senior Housing in Bryan

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Corley Audorff, Troon Dowds and Josh Williams of Colliers Mortgage arranged a $38 million loan for the refinance of a 159-unit seniors housing community in Bryan, Texas to include independent living, assisted living and memory care units. The community is part of a larger 1,000-acre, master planned community, adjacent to a golf and country club, and near a bustling biotechnology corridor. The community has close ties with Texas A&M University, located only a few miles away.

The loan carries a three-year term on an interest only basis for the first two years and was arranged for an undisclosed borrower.

Midway’s East River Announces Houston Maritime Center will Open in Mixed-use Project’s 1st Phase

Posted on by Sarah

Houston-based Midway, the privately owned, fully integrated real estate investment and development firm, today announced Houston Maritime Center has leased a 6,281-square-foot space in the first phase of its East River mixed-use development.

Established in 2000, the Houston Maritime Center (HMC) is an extension of founder James “Jim” L. Manzolillo’s unique experiences, personality, and lifelong association with the ocean. As a naval architect, Manzolillo traveled extensively, collecting artifacts from around the world. He eventually decided to share them with the public, and Houston offered a logical place to do that. Hence, Manzolillo began channeling his resources to create a museum to engage people of all ages in the history of ships and sea exploration.

A 501(c)3 non-profit organization, HMC seeks to connect the community to one of Houston’s most valuable industries, offering a wide variety of exhibits that cover centuries of maritime history and the city’s impact on the maritime world. The Center also hosts a vast variety of virtual and in-person educational activities, modules, lectures, programs and events for all ages. Currently occupying an interim space at the confluence of Navigation and Canal streets in the East End, HMC will relocate to its new, larger space at East River in Spring 2023. Fittingly, their new space is in East River’s Trail Head 1 (Buidling F) office building, adjacent to the project’s bayou-side greenspace with stunning views of downtown Houston.

In total, East River Phase One will offer 300,000 square feet of office space designed to fit a wide variety of business needs alongside The Laura, a five-story, modern-industrial multifamily community of 360 apartment homes; and an additional 100,000 square feet of retail at the ground floor of the office buildings, garage, and bayou pavilions that will fuse commerce and culture with restaurant, hospitality, retail, medical, and entertainment forming spaces. Retail tenants confirmed for Phase One include Broham Fine Soul Food & Groceries, Lick Honest Ice Creams, El Condor Coffee Roaster, Tomi Jewelry, URBN Dental, and a new event venue and rooftop bar from the owners of The Astorian. Office tenants include Impact Networking, Method Architecture and TEAL. Construction is well underway on East River Phase One and is scheduled for completion in 2023.