REAL ESTATE INVESTMENT
Armada Venture Partners | December 30, 2021
Armada Venture Partners, a local boutique commercial real estate investment and development company, announced it has purchased a 46,000 square-foot warehouse in Park Hill.
The vacant Denver warehouse, located at 3939 Kearney Street, will be renovated and leased in 2022.
We are being intentional in acquiring and redeveloping in-fill opportunities across various asset classes to support growing companies and drive economic growth in our city, Park Hill is one of the gems of Denver. It is known for its architectural diversity, relaxed suburb-in-the-city vibe, and the easy access it affords to major thoroughfares, transit and downtown."
Ryan Arnold, principal of Armada.
Evan Makovsky, Byron Johnson and Craig Myles of NAI Shames Makovsky facilitated the transaction on behalf of the seller. The purchase price was $6,320,000.
About Armada Venture Partners
Armada Venture Partners, a creative boutique commercial real estate company founded in Denver in 2021, brings value to properties and investors by integrating acquisitions, capital markets and structured finance, in addition to offering asset management solutions for projects in Colorado and other high growth regions. Armada's principals have acquired, developed and asset managed over $200M in real estate assets since 2014.
REAL ESTATE INVESTMENT
Terreno Realty Corporation | May 09, 2022
Terreno Realty Corporation, an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Santa Clara, California on May 4, 2022 for a purchase price of approximately $54.6 million.
The property consists of one industrial distribution building containing approximately 135,000 square feet on 6.5 acres. The property is at 3660 Thomas Road, adjacent to US 101, the Bayshore Freeway, provides 13 dock-high and five grade-level loading positions and parking for 91 cars. The property is 100% leased to four tenants, which expire between 2022 and 2027, and the estimated stabilized cap rate is 2.5%.
Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.
AboutTerreno Realty Corporation
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.
REAL ESTATE INVESTMENT
5T CRE | February 22, 2022
5 Talents Commercial Real Estate (5TCRE), along with Totem Capital Group, would like to announce the closing of their latest development project, Aria Apartments.
The complex is located on the Northeast side of San Antonio and features 170 apartment units. It is currently 99% occupied and conveniently located near major highways, industrial and large corporate workplaces, and is situated in a vibrant and growing community.
The investment team, led by 5TRCE, has over 24 years of experience in commercial and residential real estate. They identify, acquire, rehabilitate, and improve multifamily real estate properties, bringing quality housing options to residents across South Texas. The Aria Apartments renovation project will add value for residents as the community is remodeled. The development was built in 1982, and the project presented a huge opportunity to improve the community for current and future residents, and it offered an opportunity for investors to receive an equitable return on their investment dollars.
Most of the $750,000 budget will focus on interior upgrades and renovations, along with the repair and repainting of all exterior building surfaces. Plans also include renovating the leasing office and updating the workout facility. Landscaping, tree trimming, and fencing upgrades will also be included.
This project will offer current and future residents beautiful apartment living options in an area that continues to grow, and we are eager to attract new investment partners who share our vision."
Abel Pacheco, Principal and President of 5TCRE
We help investors, who align with our vision of community improvement and philanthropy, increase their net-worth and cashflow, while reducing their taxable income."
Ruben Dominguez, Principal of Totem Capital Group, is the main investment partner with 5TCRE.
To date, the group has invested in real estate projects valued at over $80 million, enhancing nearly 1,000 apartment units. The team offers many different investment opportunities that can be tailored to fit into any investor's portfolio.
SWBC | June 22, 2022
SWBC Real Estate, LLC, announced that it recently sold five multi-family properties in the Royalton Portfolio. Marcus & Millichap's Institutional Property Advisors (IPA) handled the sale for SWBC Real Estate.
It's apparent that there is still a very aggressive appetite for new multi-family properties in the Dallas and Austin markets, as there was a large amount of interest in the sale of these properties. Additionally, the recent uptick in interest rates are causing some concern with the future values of commercial real estate properties; however, the continued interest in the multi-family sector in well-located areas throughout Texas has remained strong at this time."
Stuart Smith, Chief Operating Officer of SWBC Real Estate, LLC
Each property is a Class A multi-family complex situated in high-growth areas, within close proximity to a major city in Texas. The continued population growth across the state helped escalate the leasing velocity for each property, while also providing attractive rent growth throughout the lease-up of the portfolio.
IPA's Joey Tumminello, Will Balthrope, Jordan Featherston, Michael Ware, Taylor Hill, Kent Myers, Asher Hall, Grant Raymond, Jeffrey Kindorf, and Drew Kile represented SWBC Real Estate in this transaction.
"Our statewide team worked seamlessly together to deliver the utmost results for our client, producing two top buyers in Dallas-Fort Worth and Austin, Texas," said Drew Kile, IPA. "Handling the sale of five new construction assets in different markets came down to finding the right buyers looking to expand their footprint in best-in-class, Suburban Core product."
The purchaser of the Dallas-Fort Worth area properties was Lightbulb Capital Group, the Family Office of Jay Schuminsky. Brixton Capital purchased the Austin Property. Both buyers are located in California.
"This was a special opportunity to scale our DFW multi-family footprint with four best-in-class properties in highly desired markets," said Jay Schuminsky, Lightbulb Capital Group.
SWBC Real Estate recently began construction on its latest project The Royalton at Creeks of Legacy in Celina, Texas, and has several more developments currently planned, of which will be included as part of the recently raised SWBC Real Estate Fund.
About SWBC Real Estate
SWBC Real Estate, LLC is owned by SWBC Enterprises, Ltd. SWBC Real Estate is managed by an experienced team of real estate professionals located in Dallas, Texas, with a primary focus in multi-family development. SWBC Enterprises, Ltd. is owned by Charlie Amato and Gary Dudley, co-founders of SWBC. SWBC is a diversified financial services company providing a wide range of insurance, mortgage, and investment services to financial institutions, businesses, and individuals. With offices across the country, SWBC is committed to providing quality products, outstanding service, and customized solutions in all 50 states.
About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap, a leading commercial real estate services firm in North America. IPA's combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios.