Ernie Katai, executive vice president and head of production, and Christopher Philipps, head of small loan originations at Berkadia, believe commercial real estate lending activity will continue with steady momentum through 2019.
Katai was admittedly nervous about last year’s interest rate increases, but was happy to see his worry was for naught as the commercial market took it in stride. In Katai’s experience, investors have remained active. Most are willing to accept lower returns, which won’t keep them from buying in 2019.
Philipps is focused on future growth. He notes Berkadia’s intention to utilize new small balance loan programs from Fannie Mae and Freddie Mac to offer a wider spectrum of resources to current clients, while introducing a new pool of borrowers to the firm.
for more insights from Katai and Philipps.
Building A in Desoto 55 Logistics Center spans 581,475 square feet.
HORN LAKE, MISS. — Core5
Industrial Partners has sold the 581,474-square-foot Building A within Desoto
55 Logistics Center in Horn Lake. The business park sits on 173 acres about 18
miles south of Memphis. An undisclosed Fortune 500 company acquired the asset.
The sales price was not disclosed. In addition, Core5 announced that Building
B, a 300,145-square-foot facility, has been fully leased to DSV Solutions LLC
and EPE Industries USA, which are both set to occupy the space this quarter. Three
other buildings are planned within Desoto 55. At full build-out, the business
park will span more than 2.5 million square feet. All three buildings are
expected to be delivered by the end of this year.
Located on the banks of the Cumberland River, Bells Bluff features a riverfront amenities package that includes a resident clubroom, fitness center, saltwater pool and a dog spa.
NASHVILLE, TENN. — The Beach
Company has opened Bells Bluff, a 402-unit apartment community in West
Nashville. Located on the banks of the Cumberland River, the property features
a riverfront amenities package that includes a resident clubroom, fitness
center, saltwater pool and a dog spa. Bells Bluff also includes a mile-long
hiking trail with fitness stations as well as a game lawn with green space. The
community offers 11 different floor plans, which feature granite countertops,
custom shelving, in-unit washer and dryer, stainless-steel appliances and
scenic forest or river views.
Olmsted Chamblee was 95 percent occupied at the time of sale and features 9,000 square feet of retail space and rentable office pods within the amenity spaces.
CHAMBLEE, GA. — CF Real Estate
Services and Origin Investments have sold Olmsted Chamblee, a 283-unit
apartment community in Chamblee. The asset was completed in October 2017 and
offers one-, two- and three-bedroom floor plans. The property sits on 5.9 acres
about 13 miles north of downtown Atlanta. Olmsted Chamblee was 95 percent
occupied at the time of sale and features 9,000 square feet of retail space and
rentable office pods within the amenity spaces. Kris Mikkelsen and Elliot Howell of
Walker & Dunlop represented the sellers in the transaction. CBRE
Global Investors acquired the property. The sales price was not disclosed.
SWBC plans to break ground on Royalton at Sunfield in Buda in May. The property will feature 300 units.
BUDA, TEXAS — SWBC Real Estate LLC, a multifamily developer
with offices in Dallas and San Antonio, has acquired land in the central Texas
city of Buda for the development of Royalton at Sunfield, a 300-unit
multifamily community. The average unit size at the Class A property will be
908 square feet across one-, two- and three-bedroom residences. Amenities will
include a pool, sunning decks, outdoor grilling areas, fitness center, dog park
and package lockers. SWBC plans to begin construction, which should last about
20 months, in May. Cross Architects is handling design, and Kimley Horn is the
Phase I of Megacenter Willowbrook in Houston delivered warehouse, self-storage and office space.
HOUSTON — An affiliate of Megacenter has completed Phase I of Megacenter Willowbrook, a 235,627-square-foot mixed-use project in Houston. Phase I of the project, which is redeveloping a former Walmart Supercenter, consists of 37,000 square feet of flex warehouse space, 20,000 square feet of self-storage space and 15,000 square feet of office and coworking space. Upon completion, Megacenter Willowbrook will also include a 114,000-square-foot gym and 34,000 square feet of entertainment space. The property is currently 75 percent leased. Michael Johnson and Stuart Hepler of HFF arranged project financing through Icon Bank.