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Bellomy & Co. announced the sale of Life Storage in Haslet, Texas, approximately 16 miles from Downtown Fort Worth. The Class A property comprises 623 units and 22 parking spaces in 78,950 square feet. Terms of the deal were not disclosed. Bill Bellomy and Michael Johnson of Bellomy & Co. represented 287 Willow Springs Storage, LP, the North Richland Hills, Texas-based seller. The team also procured the New York-based buyer, Angelo Gordon Real Estate, Inc.
DALLAS, Dec. 29, 2020 /PRNewswire/ — Stream Realty Partners (Stream), a national real estate services, development, and investment company, is pleased to announce the continued market growth of Rapid Offices™ (Rapid), a flexible workspace office leasing solutions platform that streamlines the leasing, occupancy and payment process for users seeking office space. Having launched Rapid Offices™ in early August in markets such as Atlanta, Dallas and Washington D.C., Stream has recently added workspace options in high-growth markets such as Chicago (200 West Jackson) and San Diego (4080 Centre Street). “Given the uncertainty in the marketplace, we are thrilled about the tremendous response we’ve received for this industry-changing leasing solution, and are excited to welcome Rapid Offices™ to the Stream Chicago market,” said Adam Showalter, Managing Director in Stream’s Chicago office. “As the office landscape continues to evolve, tools like Rapid will help make the leasing experience as effortless as possible for tenants, landlords and brokers. It’s innovative solutions like these that Stream will continue to develop and implement to meet our clients’ real estate needs.” Rapid’s unique software capabilities allows landlords to seamlessly expedite the leasing process for move-in ready spec suites and coworking space. The user-friendly platform showcases immediate leasing opportunities curated from Stream’s national leasing and management platform, allowing users to secure space within 24 hours. This includes: 1) identifying available, move-in ready, first-generation spec suite space managed by Stream in order to offer online credit card and ACH payment options; 2) adding the listing to Rapid’s website, providing prospective users with a seamless, live shopping experience, and allowing them to shop and compare by space; and 3) completing Rapid’s short-form lease, allowing for timely transactions and covering landlord liability. By offering tenants a flexible workplace, easy online shopping experience and accessible business resources, Rapid equally serves tenants, landlords and brokers in an efficient and convenient manner. Click to read more at www.tylerpaper.com.
The Minneapolis office of Colliers Mortgage, part of Colliers International, recently closed a Fannie Mae loan for the acquisition financing of Centerville Crossing Apartments located in Garland, Texas. The 12-year term, 30-year amortization Fannie Mae loan utilized Green Financing and was arranged through a partnership with Old Capital Lending for borrower 834 Centerville Crossing LLC. The market rate multifamily property was constructed in 1970 and renovated in 2003 and includes 152 units located throughout 14 two-story apartment buildings and also has a single-story leasing building.
In an ongoing portfolio disposition, Lakeland West Capital LLC has sold a vacant multi-tenant office project in the heart of Arlington’s Interstate 20 commercial corridor. Terms of the deal were not disclosed. The just-sold asset is a 26,552-square-foot, single-story building on 4.85 acres at 701 E. Interstate 20. Erik Blais, vice president in the Fort Worth office of Dallas-based Bradford Commercial Real Estate Services, represented the seller of record, Lakeland West Capital 32 LLC of Waco, Texas. DUB C LP, a Fort Worth-based investment group, has won the deed with an all-cash offer, 25-day inspection and 15-day close. Ryan Matthews and Cannon Camp of JLL represented the buyer. “We had a lot of interest on the leasing end, but Lakeland’s preference was to sell. This is a strong, well-capitalized buyer who offered all cash and a closing before year-end,” Blais said. Lakeland West Capital has sold a second-generation medical office building developed in 1986 and renovated in 2006. The S-shaped structure features a portico and expansive barrel-vaulted ceiling with skylights. The property abuts Arlington Highlands, a regional open-air center with one million square feet of lifestyle retail, restaurants and entertainment venues. The new owner is planning to redevelop the class B office property, which has direct access to the I-20 frontage road. The site is zoned GC-APO (general commercial with airport overlay). “The building wasn’t the driving factor, in my opinion. It was the site of almost five acres with I-20 access,” Blais said. Lakeland West Capital retained Bradford to dispose of a five-property office portfolio in Dallas-Fort Worth earlier this year. The Arlington project is the second asset to sell. The disposition package has been whittled to 4220 W. Green Oaks Boulevard in Arlington; Airport Freeway Plaza, 4200 and 4304 Airport Freeway in Fort Worth; and Offices at Bedford West, 221 Bedford Road, Bedford, Texas. “These are good assets in particularly attractive submarkets that work well for an owner-user, just like the two that we’ve already sold,” Blais said.
Dallas-based data center provider Aligned announced completion of a $1 billion senior secured credit facility that is the first U.S. data center sustainability-linked financing. The facility is one of the largest private debt raises in data center history, consisting of a $650 million term loan, a $100 million delayed draw term loan and a $250 million revolving credit facility. Aligned engaged TD Securities as the administrative and collateral agent, Goldman Sachs Lending Partners LLC as the syndication agent and ING Capital LLC as the sustainability structuring agent. TD Securities, Goldman Sachs Bank USA, Citizens Bank, N.A., Deutsche Bank AG, New York Branch and Nomura Securities International, Inc. served as joint bookrunners and joint lead arrangers for the facility. “Aligned’s latest sustainability-linked financing accelerates our goal to set a best-in-class example for the data center industry with respect to environmentally and socially sustainable growth,” said Anubhav Raj, CFO, Aligned. “Sustainable practices and principles permeate every facet of Aligned’s organization; aligning these initiatives with our financing further demonstrates an industry-leading commitment to environmental stewardship.” “As experts in sustainable finance, ING identified Aligned’s potential early on as a leader committed to solving sustainability challenges associated with data center infrastructure,” said Pim Rothweiler, regional head for technology, media and telecom, ING Americas. “Following the company’s rapid growth over the last few years, ING was able to bring its deep expertise in the sector and sustainable finance to be named the sustainability coordinator for this landmark deal, a first of its kind. We look forward to working with Aligned in the future as it continues to meet its sustainability targets.” The first-of-its-kind facility in the U.S. data center sector provides Aligned with additional capital to accelerate corporate, customer and community-related sustainability initiatives as well as short and long-term growth objectives. Aligned’s sustainability-linked financing is tied to the company’s core environmental, social and governance (ESG) objectives, and key performance indicators (KPIs). Earlier this year, Aligned elevated its commitment to environmental stewardship and sustainability by matching 100 percent of the IT loads across its data center portfolio with certified renewable energy. The company was also named a 2020 Green Lease Leader by the Department of Energy’s Better Buildings Alliance and the Institute for Market Transformation. Aligned’s Delta3 cooling technology utilizes up to 80 percent less energy and 85 percent less water, significantly reducing environmental impact and allowing customers to expand on demand without stranding capacity, which also improves sustainability. “I couldn’t be prouder of our team’s achievements and operational strength, culminating in an ability to continue championing a slew of firsts for the data center industry,” said Andrew Schaap, CEO, Aligned. “That sentiment is recognized and echoed in this latest and unprecedented round of financing, which provides Aligned the ability to keep expanding our data center portfolio. This includes land acquisition in key U.S. and international regions to address the heightened data center demand of our marquee clients, as well as expediting the expansion of existing data center campuses.”
The dream team behind the new PGA headquarters resort gathered in Frisco last night to give an update on the 600-acre development. The invite-only event featured three discussions moderated by Dave Marr III of SirusXM’s PGA Tour Radio. Among the featured speakers: PGA of America CEO Seth Waugh, golf course architects Gil Hanse and Beau Welling, World Golf Hall of Famer Lee Trevino (who was uproariously funny) and his mentor Bill Eschenbrenner, and Bob Rowling, chairman and CEO of TRT Holdings, which owns Omni Hotels. Click to read more at www.dmagazine.com.