square foot – Talktalk China http://talktalkchina.com/ Wed, 09 Mar 2022 14:14:28 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://talktalkchina.com/wp-content/uploads/2021/10/icon-2-120x120.png square foot – Talktalk China http://talktalkchina.com/ 32 32 Cherry Development begins construction of Las Vegas community https://talktalkchina.com/cherry-development-begins-construction-of-las-vegas-community/ Wed, 09 Mar 2022 14:14:28 +0000 https://talktalkchina.com/cherry-development-begins-construction-of-las-vegas-community/ Rendering of the DOWNTOWN Fremont East share. Image courtesy of Cherry Development Cherry development began construction on its second community in downtown Las Vegas which is part of its shareDOWNTOWN brand. The developer broke ground on the shareDOWNTOWN Fremont East and expects to complete construction by the end of 2022, said Sam Cherry, CEO of […]]]>

Rendering of the DOWNTOWN Fremont East share. Image courtesy of Cherry Development

Cherry development began construction on its second community in downtown Las Vegas which is part of its shareDOWNTOWN brand.

The developer broke ground on the shareDOWNTOWN Fremont East and expects to complete construction by the end of 2022, said Sam Cherry, CEO of Cherry Development. Multi-Accommodation News. Cherry also said MNH that the project team understands Breslin Builders, Helix Electric, sound plumbing and Mechanical Ares.

The four-story DOWNTOWN Fremont East share will have 84, 480-square-foot one-bedroom units, Cherry said MNH. Cherry Development will build the units with quartz countertops, stainless steel appliances, washer/dryers, smart thermostats and rooftop solar panels. Community amenities will include a fitness center, courtyard, business center, observation deck, community kitchen and entertainment area. The developer also tapped local artist SNIPT to design a mural for the exterior of shareDOWNTOWN Fremont East.

The community will be located at 231 N. 11th St. and will include retail space on the ground floor. The central location will also allow residents access to the many restaurants, retail and entertainment options in downtown Las Vegas. Cherry said in prepared remarks that the company plans to increase shareDOWNTOWN’s presence, but also to form partnerships with local businesses.

EXPANDED DOWNTOWN VEGAS PORTFOLIO

When complete, the Fremont East community will be the company’s second property to share DOWNTOWN in Las Vegas. Cherry Development previously opened the first shareDOWNTOWN community in the Las Vegas Arts District in 2020. The three-story community, located at 1300 S. Casino Center Blvd., was fully leased in the first six months, according to Cherry Development. .

The company’s portfolio also includes two luxury mixed-use condo buildings that are not under the shareDOWNTOWN brand. Apart from residential properties, Cherry Development also has several commercial properties in its portfolio including a speakeasy bar, beer garden, grocery store and pizzeria. But, said Cherry MNH that the company plans to build more shareDOWNTOWN buildings in downtown Las Vegas.

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New York condo project secures $34 million loan https://talktalkchina.com/new-york-condo-project-secures-34-million-loan/ Tue, 08 Mar 2022 15:09:04 +0000 https://talktalkchina.com/new-york-condo-project-secures-34-million-loan/ The Rose at Great Neck Condominiums. Image courtesy of ACRES Corp. McKinley Homes United Statesa Metro Atlanta-based real estate developer and builder, received a $34 million construction loan from ACRES Capital Corp. to develop The Rose at Great Neck Condominiums, a luxury development in Great Neck, NY Funding was arranged by Steven Buchwald of Mission […]]]>

The Rose at Great Neck Condominiums. Image courtesy of ACRES Corp.

McKinley Homes United Statesa Metro Atlanta-based real estate developer and builder, received a $34 million construction loan from ACRES Capital Corp. to develop The Rose at Great Neck Condominiums, a luxury development in Great Neck, NY

Funding was arranged by Steven Buchwald of Mission Capital Advisors. Drew Miller of ACRES’ office in Uniondale, NY, originated the loan.

Located at 212-230 Middle Neck Road on Long Island, the three-story property will have 40 luxury condo units for sale. The 1.2-acre site will also have an 80-space garage. The property is expected to be completed by July 2023.

Mark Fogel, CEO and President of ACRES, said in a prepared statement that the project will provide conveniently located and sought-after luxury housing options for families, professionals and empty nesters in a highly sought-after North County market. Nassau.


READ ALSO: The Future of Proptech Retirement Homes


The Rose at Great Neck Condominiums will be close to a Long Island Rail Road station and other transportation links to Manhattan.

The 48,720 square foot property will offer 1 one-bedroom, one-bathroom unit; 36 two-bedroom, two-bathroom units and 3 three-bedroom, two-bathroom units. The condos will feature high-end finishes and appliances, including washers and dryers, marble countertops, custom wood cabinetry, and hardwood floors. Community facilities will include a full-time doorman/concierge, fitness center and rooftop terrace.

ACRES provides construction, transition and permanent debt solutions in the range of $10 million to $100 million for asset classes including multi-family and student housing. In January, ACRES Capital provided a $30.5 million loan to Fulton Street Cos. for the acquisition and pre-development of 1200 W. Fulton St. in Chicago. Located in the Fulton Market District, the property consists of 19 adjoining parcels of land totaling 92,944 square feet that are set to be developed into a 380-unit residential tower with 5,000 square feet of retail and two office/sales buildings at the retail totaling 749,250 square feet.

In August, ACRES Capital provided an $89 million construction loan to Pelican Builders and Ranman USA to develop The Hawthorne, a 67-unit apartment community in Houston. Drew Miller of ACRES also originated the deal and Steven Buchwald of Mission Capital Advisors arranged the loan.

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Offerpad brings new solutions to residential real estate in Sacramento | Business https://talktalkchina.com/offerpad-brings-new-solutions-to-residential-real-estate-in-sacramento-business/ Wed, 02 Mar 2022 14:03:13 +0000 https://talktalkchina.com/offerpad-brings-new-solutions-to-residential-real-estate-in-sacramento-business/ CHANDLER, Ariz.–(BUSINESS WIRE)–March 2, 2022– Block of offers (NYSE: OPAD), a leading technology platform for residential real estate, today announced its expansion into the Sacramento metro area. Now available in more than 50 surrounding cities and towns, Offerpad brings the certainty and flexibility needed to compete in the marketplace with around-the-clock cash offers, personalized enrollment […]]]>

CHANDLER, Ariz.–(BUSINESS WIRE)–March 2, 2022–

Block of offers (NYSE: OPAD), a leading technology platform for residential real estate, today announced its expansion into the Sacramento metro area. Now available in more than 50 surrounding cities and towns, Offerpad brings the certainty and flexibility needed to compete in the marketplace with around-the-clock cash offers, personalized enrollment solutions, flexible closing dates, and rewards. Bundles from Offerpad.

This press release is multimedia. See the full version here: https://www.businesswire.com/news/home/20220301005391/en/

Offerpad today announced its expansion into the Sacramento metro area. Now available in more than 50 surrounding cities and towns, Offerpad brings the certainty and flexibility needed to compete in the marketplace with around-the-clock cash offers, personalized enrollment solutions, flexible closing dates, and rewards. Bundles from Offerpad. (Graphic: Business Wire)

“Offerpad’s goal is to take much of the stress out of buying and selling to create a whole new experience for owners,” said Brian Bair, president and CEO of Offerpad. “We are replacing the hurdles of traditional real estate with modern features that empower our clients. Homeowners today are looking for convenience, certainty and control in everything they do – and it doesn’t stop with real estate. Offerpad is designed to meet these requirements and exceed expectations everywhere we operate.

Offerpad provides a competitive advantage for home sellers and buyers in today’s market

In California and many other markets across the country, homebuyers are facing a new level of competition in an environment where inventory is tight. Owners who sell to Offerpad can enjoy many benefits, including:

  • Cash offer on their home within 24 hours of request
  • No need for open houses, cleaning, repairs or prepping their home
  • Freedom to choose your closing date and flexibility to change it as needed
  • Free extended stay in their house sold for up to three days
  • Cash proceeds from the pending sale no later than the business day following the close
  • Free local moving*

Offerpad can help sellers become more competitive buyers in today’s market where inventory is limited and homes are selling quickly. With a cash offer on their existing home, homeowners can feel more confident in their ability to make their next purchase. By providing sellers with flexible closing dates, Offerpad can help eliminate the need to move twice or juggle two mortgages.

Cash offer not for you? No problem, Offerpad is here for you

If the company’s cash offer option, Offerpad EXPRESSis not suited to the needs of a homeowner, sellers may choose to sell their home with Offerpad FLEX. Offerpad can help you sell a home on the open market with a personalized listing powered by its full-service marketing efforts, dedicated real estate experts, and free concierge services, such as cleaning, to prepare the home for sale. The company also offers advance options on home improvements and renovations. FLEX listings also have a backup cash offer to give sellers peace of mind.

In a market where every day counts, buyers and sellers can also save time and money with additional Offerpad solutions: Offerpad homes for sale in buy.offerpad.comand discounts of up to thousands with Offerpad Pack Rewards when using multiple Offerpad services.

Local expertise in Sacramento

Offerpad’s new availability in the Sacramento market reaches six counties – El Dorado, Placer, Sacramento, Solano, Sutter and Yolo. To stay on top of trends and changes, Offerpad has assembled a dedicated local team with expertise to better serve the unique needs of area residents.

Sacramento General Manager Matt McGill – founder of two real estate companies and an experienced individual producer and agent manager in the region – now leads local operations for Offerpad with his team of directors and local support staff. “Real estate is inherently complicated, and today’s market can be particularly challenging for sellers and buyers,” McGill said. “In unprecedented market and competitive conditions, Offerpad’s new solutions in the region can really give residents an edge.”

Following the company’s expansion to Sacramento as well as Riverside and San Bernardino in February, Offerpad’s innovative real estate solutions are now available in more than 1,700 US cities.

About Offerpad

Offerpad’s mission is to provide your best way to buy and sell a home. Period. We use technology solutions to redefine the experience of selling and buying homes by giving customers the convenience, control and certainty to solve their housing needs. We combine our core real estate expertise with our data-driven “Solution Center” digital platform to provide users with a holistic customer-centric experience, enabling them to effectively sell and buy their homes online with simplified access to other services, including mortgage, listing and buyer representation services. To visit Offerpad.com for more information.

Forward-looking statements

Certain statements contained in this press release may be considered forward-looking statements. Forward-looking statements generally relate to future events or the future financial or operating performance of Offerpad. For example, statements regarding Offerpad’s market expansion plans are forward-looking statements. In some cases, you can identify forward-looking statements by words such as “pro forma”, “may”, “should”, “could”, “might”, “plan”, “possible”, “draft”. , “to strive”. “, “budget”, “plan”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or ” continue”, or the negatives of these terms or their variants or similar terminology. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These forward-looking statements are based on estimates and assumptions which, although considered reasonable by Offerpad and its management, are inherently uncertain. Nothing in this press release should be taken as a representation by anyone that the forward-looking statements set forth herein will be realized or that any of the results contemplated by such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Offerpad undertakes no obligation to update these forward-looking statements.

*Offerpad pays the local moving company directly for up to 50 miles, a 2,800 square foot home and up to £13,000. You are responsible for any additional moving costs agreed upon prior to the move. Learn more here.

Eligibility and prices vary. Real estate brokerage services provided by Offerpad Brokerages.

Terms and conditions of application. To learn more, talk to your Offerpad representative or visit www.offerpad.com/terms-of-use.

One or more employees of Offerpad or its affiliates are licensed real estate agents, salespeople or brokers in Alabama, Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Missouri, Nevada, North Carolina, Ohio, South Carolina, Tennessee and Texas. Offerpad Brokerage CA, Inc. and Offerpad Brokerage FL, LLC hold real estate brokerage licenses in several states. To visit here for a list of our real estate broker licenses. Consolidation and savings services are not available in Alabama, Arkansas, Missouri and Tennessee.

TREC info: Brokerage services | Consumer Protection Notice

Brokerage Offerpad CA Inc.

Real Estate Broker, California Department of Real Estate

California DRE # 2087915

© Offerpad 2022

#OPAD—IR

#OPAD—Extension

Follow Offerpad on Facebook | instagram | Twitter | LinkedIn

Show source version on businesswire.com:https://www.businesswire.com/news/home/20220301005391/en/

CONTACT: David Stephan

David.stephan@offerpad.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA ARIZONA

INDUSTRY KEYWORD: DATA MANAGEMENT TECHNOLOGY RESIDENTIAL BUILDING AND REAL ESTATE SOFTWARE CONSTRUCTION AND REAL ESTATE INTERNET

SOURCE: Offerpad

Copyright BusinessWire 2022.

PUBLISHED: 03/02/2022 09:03/DISC: 03/02/2022 09:03

http://www.businesswire.com/news/home/20220301005391/en

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Adele, John Legend and David Spade https://talktalkchina.com/adele-john-legend-and-david-spade/ Tue, 01 Mar 2022 14:45:00 +0000 https://talktalkchina.com/adele-john-legend-and-david-spade/ Adele, John Legend and David Spade made real estate news in February. And the Sun Valley resort where parts of the Marilyn Monroe movie “Bus Stop” were filmed is up for sale. Top 10 Celebrity Real Estate News is featured on TopTenRealEstateDeals.com. POMPANO BEACH, Florida., March 1, 2022 /PRNewswire-PRWeb/ — “February’s Top 10 Celebrity Real […]]]>

Adele, John Legend and David Spade made real estate news in February. And the Sun Valley resort where parts of the Marilyn Monroe movie “Bus Stop” were filmed is up for sale. Top 10 Celebrity Real Estate News is featured on TopTenRealEstateDeals.com.

POMPANO BEACH, Florida., March 1, 2022 /PRNewswire-PRWeb/ — “February’s Top 10 Celebrity Real Estate News”

“Alex Trebek’s Studio City Mansion”
the city ​​of studios house that Alex Trebek and his wife, Jean Trebek, bought in 1991 to $2.15 million it is for sale. The five-bedroom, nine-bathroom home is where Alex and Jean raised their three children. The asking price is $6.995 million.

“John and Chrissy’s New York Penthouse Project”
John Legend and Chrissy Teigen are two of the busiest celebrities in the world and barely have time to oversee the restoration and combination of the two new York penthouses they recently purchased, with the intention of combining them into a huge two-story residence. So they sell them, ask $18 million.

“Where Marilyn Monroe starred in ‘Bus Stop'”
In 1956, Marilyn Monroe got her first chance to break out of her stupid blonde stereotype with a dramatic role in the movie “Bus Stop.” the Valley of the Sun the compound where parts of the film were shot is for sale at $15.99 million.

“Jonathan King Lists Venice House”
Film producer Jonathan Kingwho did “Spotlight,” “Rome,” “Dreamgirls” and “Swan Song” listed her home at Venice, California for $10 million. The Contemporary Beach House features four bedrooms, a pool, media room, and a freestanding two-story structure that includes a pool house/family room.

“Adele says ‘Hello’ at Sylvester Stallone Home”
Adele appears to be adding to her growing real estate collection with the $58 million purchase of by Sylvester Stallone beverly hills residence. Located in the ultra-exclusive Beverly Park neighborhood, Stallone originally asked $100 million for the eight-bedroom house. Denzel Washington, justin bieber and Mark Wahlberg also call Beverly Park home.

“NYC Penthouse formerly owned by Cher & Britney Spears
A penthouse in one of the New York one most historic residential buildings, previously a silk factory before being repurposed as residences, then owned by a host of celebrity A-Listers, including Cher and Britney Spearsjust hit the market at $6.995 million. Built in 1908 and converted to apartments in the 1980s, the 12-storey Silk Building is located in from manhattan Noho district.

“Bing Crosby Estate with JFK Wing”
“White Christmas” crooner Bing Crosby’s favorite spot was in the middle of a golf course. He spent so much time playing golf and perfecting his game that he was inducted into the World Golf Hall of Fame. While his peers were buying their vacation homes in Palm Springs, Crosby chose nearby Thunderbird Heights with its 10 golf courses. Crosby’s mid-century modern house is for sale in $4.5 million.

“David Spade almost gets $20 million Quickly”
It didn’t take very long to David Pique to sell his 6,400 square foot home to Beverly Hills’ Trousdale Estates. He listed the house for $19.995 million in January and sold it within weeks for $19.5 million.

“Perfect Montecito House for ‘Bloom County’ Cartoonist”
The children’s book author and creator of the ‘Bloom County’ comic book is selling his Montecito residence. Berkley Breathed recently listed its St. Barbara oceanfront estate, set on 25 acres of equestrian trails, deer meadows and hidden oak groves, for $6.785 million. Breathed won a Pulitzer Prize in 1987 for “Bloom County”.

“Kat Von D’s Lists of Gothic Mansions in $15 million
Best known for her TLC reality show “LA Ink,” which chronicles her work as a tattoo artist and tattoo studio owner, Kat Von D’s gothic LA mansion features a black mirrored bathroom and gold, ornate chimneys, a blood-red pool, a secret door, and many ornate chimneys. It served as the setting for the family comedy “Cheaper by the Dozen”. Kat’s house is for sale at $15 million.

For more information on celebrity homes and celebrity home video tours, visit TopTenRealEstateDeals.com.

Media Contact

Terry WalshTopTenRealEstateDeals.com, 954-283-9214, terry@toptenrealestatedeals.com

TwitterLinkedIn, Facebook

SOURCE TopTenRealEstateDeals.com

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Top 5 New York Multi-Family Home Sales — January 2022 https://talktalkchina.com/top-5-new-york-multi-family-home-sales-january-2022/ Mon, 28 Feb 2022 15:35:12 +0000 https://talktalkchina.com/top-5-new-york-multi-family-home-sales-january-2022/ Source: PropertyShark, a company of Yardi Systems Inc. 80-08 135th Street, QueensSelling price: $87,200,000 A partnership between Black Spruce Management and NYC Housing Partnership acquired the Briarwood portfolio, which also includes 81-10 135th St., with a total of 382 units. The seller, The Musso Group, purchased the two 1949-built buildings dubbed The Allison in 2009 […]]]>

Source: PropertyShark, a company of Yardi Systems Inc.

  1. 80-08 135th Street, Queens
    Selling price: $87,200,000

A partnership between Black Spruce Management and NYC Housing Partnership acquired the Briarwood portfolio, which also includes 81-10 135th St., with a total of 382 units. The seller, The Musso Group, purchased the two 1949-built buildings dubbed The Allison in 2009 for $28 million and in 2020 expanded the complex with two more buildings known as The Noll & Grove Apartments. Signature Bank has launched a financing package of $72 million for the acquisition.

  1. 143 Roebling Street, Brooklyn
    Selling price: $82,722,728

RedSky Capital has sold the five-story property totaling 49 units in Williamsburg to Calmwater Capital. The 104,661 square foot building was originally constructed in 1907 and underwent alterations in 2011. The property features residential floor plans averaging 1,780 square feet as well as an office component of 11,943 square feet and a commercial space of 5,500 square feet.

  1. 1481 Second Avenue, Manhattan
    Selling price: $72,600,000

Sky Management Corp. sold the vacant portfolio of two properties in Lenox Hill — which also includes 251 E. 77th St. — through a transaction facilitated by JLL, according to Trade Observer. The buyer, Naftali Group, secured a senior loan of $47.8 million, a project loan of $5.3 million as well as a construction loan of $1.9 million issued by CIT Bank . The duo has approximately 153,734 square feet of buildable area, which can be increased through the Inclusive Housing Bonus Program.

  1. 4001 Broadway, Manhattan
    Selling price: $51,000,000

4001 Broadway, Manhattan

Elysee Investment Co. acquired the 42-unit property in Washington Heights as well as the 16-unit 1121 First Ave. in Lenox Hill and the 11 units 318 W. 75th St. on the Upper West Side of Sirkin Realty Corp. Bank of America facilitated the acquisition of the three-property portfolio with a $34 million loan. The six-story community in Washington Heights features 7 commercial units totaling 11,283 square feet, while of the two five-story properties, only 1121 First Ave. includes 1,500 square feet of retail space.

  1. 305 E. 61st Street, Manhattan
    Selling price: $35,000,000

Carter Management Corp. sold the Upper East Side redevelopment project to Forkosh Development Group. The condominium will include 36 units, an 8,180 square foot commercial component on the ground floor and a mezzanine. Battery Park Group arranged pre-development financing for the developer, a $26.5 million loan backed by Madison Realty Capital. Recently, the lender also launched a $106 million construction loan for a 133-unit mixed-use project in the city.

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Hines Completes Denver Mixed-Use Project https://talktalkchina.com/hines-completes-denver-mixed-use-project/ Thu, 17 Feb 2022 13:52:17 +0000 https://talktalkchina.com/hines-completes-denver-mixed-use-project/ Mica RiNo. Rendered courtesy of Hines hines completed its 11-story luxury community in Denver which it is developing alongside a joint venture partner Cresset Real Estate Partners. The 392-unit community in Denver’s River North Arts District is the fourth joint venture between the two companies. Hines, along with Cresset, began construction on Mica RiNo in […]]]>

Mica RiNo. Rendered courtesy of Hines

hines completed its 11-story luxury community in Denver which it is developing alongside a joint venture partner Cresset Real Estate Partners. The 392-unit community in Denver’s River North Arts District is the fourth joint venture between the two companies.

Hines, along with Cresset, began construction on Mica RiNo in October 2020. Now that the project is complete, the developer expects to see initial occupancy of the community in the fourth quarter of 2022, with pre-letting expected for three months before delivery. Hines tapped Ziegler Cooper Architects as the architect designer of the project, Parisa O’Connell Interior Design for the interior design of common areas, Design workshop as a landscape architect, and Modern builders as a general contractor. Hines also secured funding for the construction of North West Mutual for the residential project.

When complete, Mica RiNo will offer studio, one-bed and two-bed units averaging 857 square feet, with some units reserved as affordable. Hines plans to build the units with power door locks and built-in washers and dryers, while some units will have private balconies. Mica RiNo will also include a swimming pool, covered grotto, garden, 11th-floor sky lounge, co-working space, gas stoves and approximately 15,000 square feet of retail space on the ground floor. The community should achieve LEED Gold certification.

Mica RiNo is located near the 38th & Blake light rail station which puts residents one stop from Denver’s central business district. The community will also be part of the nearly 1.3 million square foot North Wynkoop development which is being developed by Westfield Co. The first phase of the mixed-use development includes the 4,000-person Mission Ballroom concert hall, a 240-car garage, and a 90,000 square foot office and retail building. The second phase of North Wynkoop will include a hotel, restaurant and more office and retail space.

FOURTH TIME WORKING TOGETHER

Prior to Mica RiNo, Hines had worked with the Cresset Diversified Qualified Opportunity Zone Fund I on three other developments across the United States. Most recently, the joint venture opened a 1.1 million square foot industrial project in Whiteland, Ind., which was Hines’ first logistics property in the Indianapolis area.

Hines and Cresset also opened The Mercantile, a 375-unit community with 42,000 square feet of ground-floor retail in downtown Omaha, Neb., in February 2020. The company’s first project joint venture dates back to April 2019, when the two companies began construction on Block 42, a 46-story luxury tower that is one of Houston’s tallest residential communities. Outside of its joint ventures with Cresset, Hines also recently opened a planned community in Thornton, Colorado that will total 3,000 homes.

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U-Haul will convert an old warehouse in Minnesota https://talktalkchina.com/u-haul-will-convert-an-old-warehouse-in-minnesota/ Wed, 09 Feb 2022 13:06:14 +0000 https://talktalkchina.com/u-haul-will-convert-an-old-warehouse-in-minnesota/ Maiers Transport & Warehousing U Haul revealed plans to convert an 81,864 square foot former warehouse in St. Cloud, Minnesota into a retail, moving and self-storage facility. Maiers Transport & Warehousing sold the property, after more than 20 years of ownership, according to Yardi Matrix data. The facility, which now offers truck and trailer sharing, […]]]>

Maiers Transport & Warehousing

U Haul revealed plans to convert an 81,864 square foot former warehouse in St. Cloud, Minnesota into a retail, moving and self-storage facility. Maiers Transport & Warehousing sold the property, after more than 20 years of ownership, according to Yardi Matrix data.

The facility, which now offers truck and trailer sharing, boxes, moving supplies and towing equipment, is expected to open for rental this summer. After the conversion, the building will include 650 air-conditioned units, retail and exhibition space and hitch installation services.

Located at 700 54th Ave. N., the property built in 1973 is less than 4 miles from downtown St. Cloud and close to Waite Park, a growing residential metro area.

Currently owning and managing over 71.6 million square feet of warehouse space across North America, the development is part of U-Haul’s corporate sustainability initiatives. The company aims to help communities reduce their carbon footprint by following an adaptive reuse strategy instead of building facilities from scratch.

U-Haul is also converting a former Kmart store in Rock Springs, Wyo., a historic rickhouse in Lexington, Ky., and a movie theater in Rome, Ga.

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Top 5 New York Multi-Family Home Sales – December 2021 https://talktalkchina.com/top-5-new-york-multi-family-home-sales-december-2021/ Fri, 28 Jan 2022 16:00:48 +0000 https://talktalkchina.com/top-5-new-york-multi-family-home-sales-december-2021/ Source: PropertyShark, a company of Yardi Systems Inc. 1965 Lafayette Ave, BronxSelling price: $43,000,000 1965 Lafayette Ave, Bronx Ariel Property Advisors negotiated the recapitalization of the 353-unit community in the Castle Hill neighborhood, which kept the nonprofit NYC Housing Partnership Development Corp. in the ownership group. Santander Bank facilitated the sale of the 21-story community […]]]>

Source: PropertyShark, a company of Yardi Systems Inc.

  1. 1965 Lafayette Ave, Bronx
    Selling price: $43,000,000

1965 Lafayette Ave, Bronx

Ariel Property Advisors negotiated the recapitalization of the 353-unit community in the Castle Hill neighborhood, which kept the nonprofit NYC Housing Partnership Development Corp. in the ownership group. Santander Bank facilitated the sale of the 21-story community with a $32.3 million acquisition loan backed by Fannie Mae. The 400,932 square foot property was completed in 1969 and features floor plans averaging 1,117 square feet.

  1. 215 W. 101st Street, Manhattan
    Selling price: $36,000,000

A private investor has sold an 80% stake in the 81-unit community on the borough’s Upper West Side. New majority owner Black Spruce financed the purchase with $36 million in acquisition financing from New York Community Bank. Completed in 1907, the 10-story community underwent renovations in 1984 and includes a 5,250 square foot retail element.

  1. 138 E. 38th Street, Manhattan
    Selling price: $32,750,000

JLL Capital Markets represented Bi-Coastal Properties in the sale of Tatham House totaling 81 units in the Murray Hill neighborhood of Manhattan. Four Winds Real Estate acquired the property through a 99-year land lease held by iStar, which is due to expire at the end of 2120. JLL worked on behalf of the tenant to secure an 11-year leasehold acquisition loan. $.8, $3.7 million Lease Loan and $1 million Lease Project Loan provided by Ready Capital.

  1. 35-64 84th Street, Queens
    Selling price: $32,500,000

A&E Real Estate Holdings has acquired the 110-unit property in Jackson Heights. The new owner secured a $22 million loan issued by Signautre Bank for the purchase. The building constructed in 1933 includes residential units averaging 980 square feet and 12 commercial units averaging 11,000 square feet. Residents of the property can join the 7 subway line at the NE corner of 82nd Street and Roosevelt Avenue.

  1. 160 E. 103rd Street, Manhattan
    Selling price: $24,000,000

Sharp Management Corp. sold the East Harlem asset totaling 60 units. Citibank provided $16.8 million in acquisition financing for L+M Development Partners and Settlement Housing Fund Inc. While the 65,019 square foot property was originally developed in 1920, it underwent alterations in 1985. The six-story community is less than 0.3 miles from the 6 subway line located at the SE corner of Lexington Avenue and 103rd Street.

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Acquisition of Amazon Ottawa Aligns with Crestpoint’s Global Outlook | RENX https://talktalkchina.com/acquisition-of-amazon-ottawa-aligns-with-crestpoints-global-outlook-renx/ Wed, 26 Jan 2022 17:25:35 +0000 https://talktalkchina.com/acquisition-of-amazon-ottawa-aligns-with-crestpoints-global-outlook-renx/ 222 CitiGate Dr., a 2.8 million square foot Amazon fulfillment center, has been acquired by Crestpoint Real Estate Investments and its partners. (Courtesy of Crestpoint) The acquisition of the 2.8 million square foot Amazon facility in Ottawa, the largest fulfillment center in Canada, meets several key objectives for Crestpoint Real Estate Investments Ltd., which has […]]]>

222 CitiGate Dr., a 2.8 million square foot Amazon fulfillment center, has been acquired by Crestpoint Real Estate Investments and its partners. (Courtesy of Crestpoint)

The acquisition of the 2.8 million square foot Amazon facility in Ottawa, the largest fulfillment center in Canada, meets several key objectives for Crestpoint Real Estate Investments Ltd., which has assembled an international consortium for the $494 million purchase.

Crestpoint and its partners have purchased a 90.1% share of the state-of-the-art, multi-level facility in the community of Barrhaven, a southwest suburb of Ottawa. Developer Broccolini retained the other 9.9% stake in the property, which was completed and handed over to Amazon in late 2021.

“This transaction combines our focus on the industrial market with the appeal that Canada really has in a global context for global investors,” Crestpoint executive vice president Elliott Altberg told RENX.

“It was really just an opportunity for us to buy a very stable, long-term base asset that expands our relationships with capital around the world, and an asset that is leased to a tenant on credit.

“He combines a lot of very good attributes.”

The new owners of the establishment

The new majority owners of the center, which anchors the CitiGate business park, are Crestpoint Core Plus Real Estate Strategy, Vestcor Inc., and Kiwoom Securities and Hangang Asset Management, a South Korean investment consortium.

Crestpoint is a commercial real estate investment manager with $7.5 billion in gross assets under management. The Crestpoint Core Plus Real Estate Strategy was created in 2011 as a diversified open-ended vehicle with a core-plus investment strategy available to institutional clients and high net worth investors.

Connor, Clark & ​​Lunn Financial Group Ltd. — a multi-boutique asset management firm whose affiliates collectively manage approximately $100 billion in assets for individuals, advisors and institutional investors — owns 50% of Crestpoint. Crestpoint’s senior management owns the other half.

Vestcor of Fredericton is jointly owned by the New Brunswick Public Service Pension Plan and the New Brunswick Teachers’ Pension Plan. It provides global investment management services to nine public sector client groups which represented approximately $19.4 billion in assets under management at the end of 2020.

Kiwoom Securities was founded in 2000 and is listed on the Korea Stock Exchange. It offers financial investment, management, investment marketing, investment brokerage, discretionary fiduciary investment and investment advisory services.

Hangang Asset Management is a global alternative asset management company investing in overseas infrastructure and all major real estate asset classes. Its main investors are pension funds, credit unions and insurance companies.

Amazon’s new facility

The facility itself is fully leased to Amazon on a 20-year lease. He is now paying rent, occupying the premises and finishing his fit-out, according to Altberg.

The site is 64.2 acres and the building footprint is approximately 630,000 square feet. It has 54 loading docks.

Various technological applications will allow it to process more than 100,000 parcels per day.

The property also has: 2,062 parking spaces; 107 trailer parking spaces; 250 bicycle parking spaces; 18 parking spaces for motorbikes; and 10 electric vehicle truck chargers.

In keeping his share of the facility, Broccolini is following a similar strategy to the first major fulfillment center he built for Amazon in Ottawa.

Broccolini also sold a 90% interest in that facility, a one million square foot building in the city’s east end, to Concert Properties’ CREC Commercial Fund LP upon completion in 2020.

The two facilities, along with another smaller local fulfillment center recently leased to Canadian Urban, give Amazon nearly four million square feet of fulfillment space in Ottawa.

Crestpoint continues to grow

This most recent transaction, brokered by CBRE, is the largest in a series of major transactions for Crestpoint. It has completed more than $1.9 billion in acquisitions of office, industrial, retail and multi-residential properties over the past 13 months. The acquisitions added more than 6.5 million square feet to its portfolio,

Crestpoint also added 14 new members to its team, bringing its total number of investment professionals to 32. This number is expected to continue to grow.

The company has been a very active buyer in Ottawa, including an industrial portfolio of four properties from Huntington Properties for just over $50 million late last summer as part of its aggressive industrial expansion.

“It’s a different type of purchase, given the long-term nature of the lease, credit rental and the size of the industrial facilities,” Altberg said of the acquisition. Amazon. “It fits very well with our strategy.”

Crestpoint and Vestcor have acquired a 50% interest in the four-building, 1.17 million square foot Place de Ville office complex in downtown Ottawa, paying Alberta Investment $350 million Management Corp., Brookfield Properties and CPP Investments in November.

Altberg told RENX last year that he views Ottawa as a core growth market with more attractive risk-adjusted returns than some other major Canadian cities.

Other acquisitions to come

Although Crestpoint has been active in Ottawa, it continues to seek acquisitions across the country.

“We want to continue growing in industrial space, residential space, and we’ve purchased office space in Ottawa,” Altberg said.

“We are very active and busy and there will be things to discuss, but it is best to leave these discussions until they are over.”

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24-unit apartment complex in Garden Grove sells for $8 million – Orange County Register https://talktalkchina.com/24-unit-apartment-complex-in-garden-grove-sells-for-8-million-orange-county-register/ Fri, 14 Jan 2022 17:20:03 +0000 https://talktalkchina.com/24-unit-apartment-complex-in-garden-grove-sells-for-8-million-orange-county-register/ The 24 Chapman Villa Apartments in Garden Grove sold for $8.15 million or $339,500 per unit, according to Marcus & Millichap. The 19,345 square foot complex located at 7692-7732 Chapman Ave. features two-bedroom units spread across four adjoining buildings. Greg Bassirpou at M&M represented the seller and buyer, unidentified only as local limited liability companies. […]]]>

The 24 Chapman Villa Apartments in Garden Grove sold for $8.15 million or $339,500 per unit, according to Marcus & Millichap.

The 19,345 square foot complex located at 7692-7732 Chapman Ave. features two-bedroom units spread across four adjoining buildings.

Greg Bassirpou at M&M represented the seller and buyer, unidentified only as local limited liability companies.

“The property is located in a very desirable area, next to a quiet residential area, and the seller was able to maximize value through a complete exterior and interior renovation,” he said. .

The buyer completed a 1031 exchange by acquiring the complex, a “turnkey property that offers good cash flow and good growth in projected rents,” Bassirpou said.

The Bascom Group in Irvine has acquired a 140-unit apartment complex in Northridge for $52.5 million or $375,000 per unit. (Courtesy of Bascom Group)

Bascom buys Northridge complex for $52.5 million

The Bascom Group in Irvine has acquired a 140-unit apartment complex in Northridge for $52.5 million or $375,000 per unit.

The properties, NMS Northridge and NMS Superior, are mostly two- and three-bedroom units. Each has a private two-car garage or two structured parking spaces, Bascom said.

Apex Innovative Sciences, a clinical trial site operator, signed a 12.5-year lease for 30,962 square feet at Los Alamitos Medical Center. Financial terms of the lease were not disclosed. (Courtesy of CBRE)

Los Al medical complex attracts longtime tenant

Apex Innovative Sciences, a clinical trial site operator, signed a 12.5-year lease for 30,962 square feet at Los Alamitos Medical Center.

Financial terms of the lease were not disclosed.

CBRE’s Sonya Dopp-Grech, Steven Lewallen and Ryan Dopp represented the owner, Welltower, a real estate investment firm specializing in medical properties.

The three-story property located at 3771 Katella Ave. is in a medical campus that includes Tenet Healthcare, Coast Urological Medical Group and Retina Consultants.

According to Hanley Investment Group Real Estate Advisors, a Chipotle-anchored multi-tenant retail complex at the Foothill Ranch Towne Center has sold for $8.2 million. The seller was Thomas English Real Estate in Indianapolis, Indiana. The buyer was not identified solely as a Glendale investor. (Courtesy of Hanley Investment Group)

Chipotle property sells for $8.2 million

According to Hanley Investment Group Real Estate Advisors, a Chipotle-anchored multi-tenant retail complex at the Foothill Ranch Towne Center has sold for $8.2 million.

The largest mall is anchored by Walmart Supercenter and Target and also includes a 99 Cents Only, Hobby Lobby, JOANN, Michaels, Old Navy, PetSmart and Regal Cinemas.

Hanley Investment Group represented the seller, Thomas English Real Estate in Indianapolis, Indiana. The buyer was not identified solely as a Glendale investor and was represented by Jack Nersesian at DAUM Commercial Real Estate Services.

The 6,873 square foot building sits at 26592 Towne Center Drive on nearly one acre and also includes Firehouse Subs and Guidepost Montessori. The property was built in 2004 and renovated in 2020.

N.B. company abandons Chino Hills centers for $19M

VantageOne Real Estate Investments in Newport Beach has sold two Chino Hills commercial properties for a total of $19 million.

Chino Hills Grand Plaza, a 12,948 square foot retail building at 3410 Grand Ave., sold for $11.42 million to an unidentified Burbank investor. Center tenants include First Citizens Bank, Pacific Dental Services, It’s Boba Time and Pick Up Stix.

Gateway Village, a 14,771-square-foot, two-tenant retail building in nearby Sprouts Mall, has sold for $7.64 million to an unidentified Santa Clarita investor. Tenants are Dunn-Edwards and Sit ‘n Sleep.

Hanley Investment Group negotiated the transactions on behalf of VantageOne.

“Investor demand for well-located, multi-tenant commercial properties has reached unprecedented levels in the second half of 2021,” said Bill Asher, executive vice president of Hanley. “We generated numerous competitive and qualified offers on both Chino Hills Grand Plaza and Gateway Village, and secured two separate Southern California-based 1031 exchange buyers at 100% of the asking prices for both assets. “

Both malls are across from Grand Avenue and The Shoppes at Chino Hills, one of the busiest malls in the city.

CapRock Co-Founder and President Jon Pharris is expanding Newport Beach-based CapRock Partners to Dallas-Fort Worth. (Courtesy of Leah Hardy Photography)

CapRock expands into Texas

CapRock Partners, based in Newport Beach, has opened an office in Texas.

The Dallas-Fort Worth team will be led by CapRock co-founder and president Jon Pharris. The company said it is looking for industrial real estate investment opportunities as well as land for large-scale logistics development throughout Texas.

Pharris retains his current title and role with the Industrial Real Estate Investment and Management Company.

“The Dallas/Fort Worth Metroplex is a vital North American logistics hub and CapRock is thrilled to officially establish a presence here,” said Pharris. “As we integrate into the DFW industrial real estate market, CapRock is looking to build a strong local team to execute our development and investment strategies.”

Leadership changes at Faris Lee

Jeff Conover, Don MacLellan and Shaun Riley have been promoted to managing directors at Faris Lee Investments, an Irvine-based retail real estate advisory firm.

The promotions come as the company’s CEO, Rick Chichester, retires. He will remain with the company until January 31.

Conover, Don MacLellan and Shaun Riley, all longtime Faris executives, will focus on team collaboration, mentorship and talent development with plans to implement a major recruiting initiative and hire brokers at all levels.

“As we emerge from the pandemic, it’s a perfect junction for new leadership to take the helm to lead the business,” MacLellan said.

KBS volunteers in Newport Beach got together in early December to assemble new bikes for Crittendon Services for Children and Families in Fullerton. The team gathered 18 children’s bikes. (Courtesy of KBS)

Good work

Employees of KBS, a Newport Beach-based commercial real estate investment firm, recently participated in a volunteer event to build 18 bikes for Crittenton Services for Children and Families in Fullerton. The non-profit behavioral health and child welfare organization serves the most vulnerable children, youth and their families.

Real estate transactions, leases and new projects, industry hires, new companies and upcoming events are compiled from news releases by editor Karen Levin. Submit high-res articles and photos via email to Business Editor Samantha Gowen at sgowen@scng.com. Please allow at least a week for posting. All elements are subject to change for clarity and length.

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