Sale of grocery-anchored retail center in suburban Dallas closes

Posted on by Mia Goulart

JLL Capital Markets has closed the sale of Independence Square, a 140,218-square-foot, grocery-anchored retail center located in the Dallas suburb of Plano, Texas.

JLL represented the seller. Head Capital Partners acquired the asset.

Built in 1977 and renovated in 2005, the 94% leased center is grocery-anchored by a high-performing Tom Thumb that comprises 31% of the total rentable area and has operated as the anchor for 45 years. Tom Thumb’s parent company, Albertsons, is the second-largest supermarket chain in North America, with over 2,300 stores total and 65 stores in Texas. Additional tenants include Oscar Nail Lounge, Cookies by Design, Great Clips, Little Greek Restaurant, Frost Bank, Jersey Mike’s and Workout Anytime. The property receives approximately 850,000 visits every year.

Located at 3100 Independence Parkway, Independence Square sits at a high traffic intersection within a dense neighborhood population. The property caters to over 127,000 residents within three miles with an average household income of over $130,000, which is 20% above the Dallas-Fort Worth average. The center is also adjacent to heavy daytime traffic generators, including Plano High School to the south and four surrounding elementary schools in every direction. Additionally, it is just 35 minutes from Downtown Dallas and 15 minutes from the Legacy office submarket.

The JLL Retail Capital Markets team was led by Senior Managing Directors Chris Gerard and Barry Brown, Director Erin Lazarus and Associate Ben Esterer.

National investor adds West Texas self-storage facility to its portfolio

Posted on by Mia Goulart

JLL Capital Markets has completed the sale of Atlas Self Storage, a 116-unit self-storage facility in Midland, Texas.

JLL represented the seller, Atlas Self Storage, and procured the buyer, KO Storage.

Atlas Self Storage is located at 200 Norman St. just north of Interstate 20 in Downtown Midland. The project sits near a collection of KO Storage facilities and is easily accessible from the majority of Midland’s residential population. The 18,120-square-foot facility was 95% occupied at closing.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Directors Adam Roossien, Matthew Wheeler, Steve Mellon and Brian Somoza.

Sale of student housing community near University of Houston closes

Posted on by Mia Goulart

JLL Capital Markets closed the sale of Vue on MacGregor, a 117-unit / 347-bed student housing community near the University of Houston.

JLL worked on behalf of the seller, Trimont, LLC and procured the buyer, Axonic Properties, LLC.

Built in 2014, the 96.3% occupied property features fully furnished one-, two-, three-, four- and five-bedroom units ranging from 369 square feet to 1,128 square feet. The units include in-unit washers and dryers, stainless steel appliances and granite countertops. Community amenities include dedicated study rooms, a swimming pool, two fitness centers, a business center, free community-wide Wi-Fi and cable, dog park and prime views of downtown from an upper view deck.

Situated at 4460 South MacGregor Way, Vue on MacGregor is 0.5 miles from the University of Houston campus and a 15-minute drive from Downtown Houston, which features 52 million square feet of office space. The property is ideally set in a quiet enclave near MacGregor Park, a short walk or shuttle ride to classes and only a few miles from the light rail providing access to downtown. Both Griggs Road Shopping Center and The Trail Shopping Plaza are a five-minute drive from the property. Additionally, residents have easy access to the greater Houston metro via nearby Interstate 45.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Teddy Leatherman and Scott Clifton, Director Kevin Kazlow and Analyst Danielle Rice.

Partners Real Estate arranges sale of 37,500-square-foot industrial building in Laredo

Posted on by Mia Goulart

Partners, one of the largest independent commercial real estate firms in Texas, arranged the sale of a 37,500-square-foot industrial building located at 14610 Atlanta Drive in Laredo, Texas.

Partners’ Gustavo Torres represented the seller, Richard G. Boswell, in the transaction.

Colliers Mortgage closes Fannie Mae loan for the acquisition of The Bradford in Buda, Texas

Posted on by Mia Goulart

Fritz Waldvogel of Colliers Mortgage closed a Fannie Mae loan for a repeat client for the acquisition of a market-rate multifamily property in Buda, Texas, The Bradford.  Community amenities at the 264-unit gated community property include concierge service, 24-hour fitness center, carport parking, business center, clubhouse with free wi-fi, resort style swimming pool and sundeck and gourmet coffee bar.

The loan carries a five-year term and was arranged for transaction sponsor, SPI Advisory.

Partners Finance augments commercial real estate investment platform with addition of Jake Crater to lead fundraising efforts in Dallas

Posted on by Jordan Jensen

Crater joins Partners from Wall Street heavyweights Goldman Sachs, J.P. Morgan
 

Dallas, TX – Partners Finance—the capital raising division of Partners Real Estate (“Partners”)—today announced that it has hired veteran securities and investment fundraising executive Jake Crater to spearhead the investment platform’s fundraising initiatives in Dallas, TX.

Mr. Crater joins the company on the heels of the recent launch of Partners Finance’s crowdfunding website: www.precfinance.com.

In his new role as Investment Director for Partners Finance, Mr. Crater will work alongside Brett Chiles, Partners Finance Managing Director based in Houston, to raise funds for Partners’ investment platform and work with accredited individual investors, family offices, institutional investors, and registered investment advisors, helping them invest in a variety of investment funds and development projects sponsored by Partners Real Estate Group. Mr. Crater will be based in Dallas, TX and primarily focus on providing information about Partners investment opportunities to the investor community in North Texas.

“We expect Partners Finance to be a major contributor to our overall investment platform,” said Jon Silberman, Managing Partner at Partners. “Hiring an executive with Jake’s deep fundraising experience is another key step in the growth of our investment offerings.”

Added Mr. Silberman, “Partners has always been forward-thinking and intentional in anticipating our clients’ needs. In addition to tradition methods of raising commercial real estate investment capital, we have developed and recently launched the Partners Finance online platform, which makes investing with us as simple as the click of a button.”

Mr. Crater has over 20 years of experience and is a highly accomplished and results-driven banking and investment professional. He joins Partners Finance from leading global investment banking, securities, and investment management firm, Goldman Sachs, where he served as Vice President, business development officer for the southern region. His responsibilities were developing relationships and advising registered investment advisors and family offices on capital market solutions like institutional trading, derivatives, alternative assets and custody. Previous to that, Mr. Crater spent 15 years at banking giant J.P. Morgan as Executive Director in Private Banking. There he advised High Net Worth families and institutions on Asset Management, Wealth Planning, Banking and Credit solutions.

In April, Partners Finance launched its new digital investment platform website at //precfinance.com/, providing direct access to all Partners investment funds and projects to accredited investors nationwide. Currently there are two investment opportunities available on the site—the $50 million Land Fund I (with a minimum investment of $125,000), which will be deployed to acquire raw land in Houston, San Antonio, Austin, and Dallas-Ft. Worth; and the $150 million Investment Fund V (minimum investment of $100,000), to be utilized to invest in industrial, retail, and office properties located in Texas and high-growth markets in the southeastern United States—and a third on the way, a new Hospitality Fund. Each of these are sponsored by Partners Capital, the investment arm of Partners Real Estate.

The Partners Finance digital commercial real estate investment platform offers interested accredited investors the ability to invest directly in Partners’ funds and development opportunities. The platform’s website makes investing in real estate simple, with a straightforward four-step process: (1) create your account; (2) review current investment opportunities; (3) select the investment opportunity you like; and (4) invest directly.