Anca Gagiuc
Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com
Compass Housing Alliance Set to Hold Opening of Compass on Dexter Affordable Housing Development
The latest affordable housing project by Compass Housing Alliance is ready for its official opening this month. The developer’s new Compass on Dexter affordable community is targeting formerly homeless and low-income households in order to provide permanent living arrangements. The Compass on Dexter development project is located in the bustling Seattle neighborhood of South Lake Union, one of the primary areas that have created growth for the local multifamily market in recent years.
Historic La Fonda On the Plaza Hotel Changes Ownership
One of the historic and iconic centerpiece buildings of Santa Fe is changing owners. La Fonda on the Plaza, the 85-year old hotel, will belong in a few weeks to longtime family friends of the Ballen family, the current owners.
NorthMarq Secures Acquisition Financing for LaPour Corporate Center
It was recently reported that NorthMarq Capital secured $12.3 million in acquisition financing for LaPour Corporate Center in Las Vegas. The Denver office of the company handled the financing with Senior Vice President Greg Benjamin and Senior Investment Analyst Jeff DeHarty heading the process on behalf of NorthMarq. The company is one of the top privately held commercial real estate financial intermediary in the country that provides mortgage banking and commercial loan servicing in 34 offices coast to coast.
Strand at Huebner Oaks Shopping Center Acquired by Whitestone REIT
The Strand at Huebner Oaks Shopping Center has a new owner. Whitestone REIT, a fully integrated real estate company that owns, operates, and redevelops Community Centered PropertiesTM, acquired the retail complex with funds from its corporate credit facility.
JB Matteson Acquires Northshore Townhomes in Kenmore in $22M Deal
A rental condominium property in Kenmore, WA is the latest asset to become part of JB Matteson’s shopping spree on the West Coast. The San Mateo, CA-based private real estate investment manager recently acquired the Northshore Townhomes from seller Grosvenor Americas USA for a fee of $22.1 million. The property is the third multifamily asset acquired by the company during the past few years, joining the Langara Apartments in Issaquah and the Greenhouse Apartments in Seattle. The transaction was arranged by a CBRE team.
HFF Closed Sale of 314,399 Square Feet of Class A Office Space in Austin
HFF announced closing the sale of a Class A suburban office portfolio totaling 314,399 square feet in Austin; they’ve represented the seller, Intercontinental Real Estate Group. The buildings involved in the transaction are Stonecreek I and II and Canyon at Wild Basin. The financial details of the transactions were undisclosed, but both properties were sold clear of any existing debt.
Murphy Development Plans Technology Park; Recho Holdings Buys Scripps Ranch Flex Building
Murphy Development recently announced that it had completed the acquisition of a large land parcel in the Scripps Ranch Business Park from seller Intel Corporation. The land involved in the transaction was previously acquired by Intel fourteen years ago in a deal worth approximately $28 million. Located in central San Diego, the land is set to become the site for a massive commercial real estate development that will cater to tech companies.
Walmart Nears Completion of 42,000-Sq.-Ft. Neighborhood Market in Rio Rancho
At the beginning of the year, Walmart was announcing new developments in the Albuquerque area, of which one neighborhood market in Rio Rancho. The mini-store near the corner of Southern and N.M. 528 is close to completion, while the hiring process has already begun.
Prologis Starts Spec Industrial Project in North Las Vegas
Developer Prologis has officially begun development on its speculative industrial park at Pecos and Gowan roads, meaning that it is the first property of its kind to be constructed in Las Vegas since the economic downturn. Prologis is gambling on the fact that the local industrial market, still reeling from the fact that Las Vegas was dropped as the possible location of the Tesla Gigafactory that eventually went to Reno, still has need for a large-scale asset.
Rexford Industrial Acquires Fully Leased Industrial Property in San Fernando Valley for $30.5 Million
Southern California’s industrial market is clearly improving lately and Rexford Industrial Realty Inc. is also jumping on the bandwagon. The real estate investment trust recently announced the cash-funded acquisition of 9120 Mason Avenue in Chatsworth, CA for a reported fee of $30.5 million. The company specializes in owning and operating industrial properties located in SoCal infill markets.