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
HFF Provides West Hollywood Retail Center with $27 Million Financing Deal
Holiday Fenoglio Fowler L.P. has recently completed yet another financing deal for the improving Los Angeles commercial real estate market. The capital markets services provider has secured financing for a West Hollywood retail asset totaling $27 million. The company worked on behalf of Shooshani Developers, for the Hollywest Promenade.
New $30M Westside Apartment Complex on the Rise
The largest sale in 2011 for a multifamily project in the Albuquerque area is now ground for the preliminary works on what will become an upscale apartment complex. Andalucia Villas will occupy 16.5 acres at Coors and Montaño in the Westside of the city, close to the Bosque School. The buyer and developer, Bay Hill Development LLC, has been represented by NAI Maestas & Ward.
IPA Arranges Sale of The Ridge at Bandera Apartment Community
The apartment community at the intersection of Loop 1604 and Bandera Highway, at 10950 Biering Lane, has changed owners. Institutional Property Advisors (IPA), a multifamily division of Marcus & Millichap, has overseen the transaction, without releasing any details.
Velocis Forms Partnership With Moors & Associates Through the Acquisition of Two Office Buildings
A new partnership has formed between Bethesda, MD-based Moore & Associates and Dallas-based Velocis Fund. The latter acquired the majority interest in two Class A office buildings: Arboretum Atrium at 9737 Great Hills Trails and Las Cimas I at 804 Las Cimas Blvd; the properties total 170,000 square feet.
The Phoenix Apartments Rises From the Western Palisades Ashes
Once a foreclosed property, the Western Palisades residential community located at 1720 Atrisco Drive SW was rescued by Chuck Sheldon of T&C Management who purchased it in 2010 for approximately $1.5 million. The history of the property is a stormy one, one that made the new owner change its name into The Phoenix apartments.
World Class Capital Plans to Reposition Crestview Crossing Post Acquisition
Once opportunity is identified, creating value comes next. Under this principle World Class Capital Group announced the acquisition of a retail center in North-Central Austin. The exact address is 8120 Research Blvd, at the corner of Highway 183 and Anderson Square.
Wyndham Introduces Hawthorn Suites Brand in Dubai
Hawthorn Suites by Wyndham Dubai is now the first hotel to fly the banner of the company’s extended stay brand in the area.
Stream Private Data Center Breaks Ground in San Antonio
“San Antonio’s central location, reliable infrastructure and stable cost of electricity make it a great choice for national enterprise users to locate and operate their mission-critical infrastructure,” said Rob Kennedy, co-managing partner, Stream Data Centers. With this in mind, the Stream Private Data Center (PDC) broke ground in the master-planned business park Westover Hills.
New M-F Deal Completed in Seattle as Company Continues Shopping Spree
As Seattle continues to grow and its development pipeline keeps being populated, investors are obviously keeping one eye on the city’s multifamily assets. One company that has recently moved on the market is JB Matteson Inc, with the company announcing the acquisition of Greenhouse Apartments, in a deal worth $32.1 million. The San Mateo, CA-based company is the new owner of the Columbia City residential asset. Property management services will be handled by E&S Ring Management Corporation, who currently manages other JB Matteson properties.
Mehran Changes Strategy from Leasing to Loft Conversion for Office Building
Built in 1958, the office building at 517 Gold Avenue has been the federal office until the early 2000 when they relocated to 500 Gold. For the next decade the eight-story block property was left abandoned.