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Colliers Mortgage, part of Colliers International | U.S., recently closed a $6 million Fannie Mae loan for the refinancing of Prairie Hollow Apartments, a 172-unit market rate multifamily housing property located in Denton, Texas. The property was constructed in 1984 and features 15 two-story apartment buildings, an outdoor pool, and laundry facilities.
The loan carries a 10-year term and 30-year amortization and was arranged for Fera’s Group LTD.
JLL Capital Markets has closed the sale of an eight-property, Class-A self-storage portfolio totaling 4,317 units across markets in Chicago, Illinois; Raleigh and Fayetteville, North Carolina; and Dallas, Texas.
JLL marketed the property on behalf of the seller, Harrison Street. Life Storage acquired the portfolio.
Nearly 93% leased at the end of 2021, the portfolio features facilities with Class-A design and amenities, including 24-hour security, visibility, a mix of climate- and ground-level non-climate-controlled units, elevator access and ample parking. The properties include:
6331 N Broadway St., Chicago, IL
2845 McDermott Rd., Plano, TX
11901 FM 423, Little Elm, TX
3341 West Campbell Rd., Garland, TX
2711 Justin Rd., Flower Mound, TX
1651 TW Alexander Dr., Durham, NC
9300 Fayetteville Rd., Raleigh, NC
809 Chapel Hill Rd., Spring Lake, NC
The portfolio properties are strategically located within each market in densely populated areas with both high barriers to entry and high numbers of renter-occupied housing units.
The JLL Capital Markets team representing the seller was led by Managing Directors Steve Mellon and Brian Somoza, Directors Adam Roossien and Matthew Wheeler and Analyst Robert Westerfield, along with Directors Steven Rutman and Dan Reynolds and Senior Managing Director Ryan Clutter.
Cushman & Wakefield announced the firm has represented Hedmark, III, LP in the sale of 17240 SH-249 in Northwest Houston. The property, formerly a Sweet Tomatoes restaurant location, sold for an undisclosed price.
Eric H. Lestin and Michael Burgower of Cushman & Wakefield represented the seller. Jack Burgher of BCS Capital represented the buyer.
The property, located in the Willowbrook submarket features 8,054 square feet. BCS Capital has leased the property to an undisclosed tenant and intends to renovate the property.
JLL Capital Markets has closed the sale of Intermodal Commerce Park, a new, fully leased industrial park comprising three buildings that house 1.4 million square feet within the highly sought-after AllianceTexas master-planned project in the Dallas-Fort Worth MSA.
JLL marketed the property on behalf of the seller, a partnership between Gruene Real Estate Partners, Weber & Company and the industrial team of Crow Holdings Development. Clarion Partners acquired the asset. Additionally, JLL arranged the leasing of the project on behalf of the seller.
Completed in the fourth quarter of 2021, Intermodal Commerce Park is home to H-E-B, Volkswagen, Prairie Industries and ANEW Business Solutions. The modern buildings provide clear heights ranging from 36 to 40 feet, deep truck courts, 266 dock-high doors, 10 ramp doors, 325 trailer parking stalls, ESFR fire protection and 641 car parking spaces.
Located in Haslet at 206, 230, 280 S Intermodal Parkway, Intermodal Commerce Park is at the doorstep to the BNSF Intermodal entrance north of Fort Worth and will have direct access to the new Haslet Parkway Project, which will extend Haslet Parkway on the southern portion of the site and connect I-35W and SH170 via an expanded, four-lane highway. Given the proximity to BNSF and AllianceTexas’ connectivity to major air and ground transportation throughfares, this new project will be a prime logistical location for the foreseeable future and will allow tenants to reach any major Texas or regional market.
The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Dustin Volz, Stephen Bailey, Dom Espinosa, Wells Waller and Jack Copher.
The JLL Leasing team responsible for leasing the project consisted of George Curry, Jamie Galati, Blake Rogers and Madison Hornisher.
US Security Associates, Inc. renewed 12,814 square feet at 11811 N. Freeway in Houston, TX. Morgan Colt with Cushman Wakefield represented the tenant and Thomas Emde represented the landlord, Hartman Income REIT.
Longbridge Financial leased 2,270 square feet at 400 North Sam Houston Pkwy E. in Houston, TX. Thomas Emde represented the landlord, Hartman Income REIT.