Meta Housing Corp. Completes $20.3 Million Transit-Oriented Development in Compton, CA

Metro@Compton Senior Apartments, 302 North Tamarind Avenue, Compton, CA

Kasey Burke

COMPTON, CA (Sept. 14, 2015) – Meta Housing Corporation has announced the completion of Metro @ Compton Senior Apartments, a $20.3 million, transit-oriented, 75-unit affordable housing development available to seniors aged 55+ in Compton, California.

“There continues to be a tremendous need for affordable housing developments in close proximity to public transportation, especially in urban areas,” says Kasey Burke, President of Meta Housing Corporation.

“The Metro @ Compton development transformed a blighted, underutilized vacant lot into 75 high-quality affordable apartment units within walking distance to Compton’s Metro Blue Line light rail and bus station.”

The Metro @ Compton Senior Apartment community was developed by Meta Housing in partnership with Western Community Housing. The community was designed by Y&M Architects, constructed by Optimus Construction Inc. under the supervision of construction manager KKG, Inc.  The property is managed by WSH Management.

Located at 302 N. Tamarind Avenue in the City of Compton, the apartment community is comprised of one- and two-bedroom floor plans.

For a complete copy of the company’s news release, please contact:

Lexi Astfalk/Jenn Quader

Brower, Miller & Cole

LAstfalk@browermillercole.com

(949) 955-7940

www.metahousing.com.

Sale of Galleria Place in Houston, TX closed by HFF

Galleria Place, 5251 and 5333 Westheimer, Houston, TX

 

Dan Miller

 HOUSTON, TX – Sept. 14, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Galleria Place, two Class A office buildings totaling 401,000 square feet plus a stand-alone retail site across from the Galleria Mall in Houston, Texas.

HFF marketed the property on behalf of the seller, The Carlyle Group and Songy Highroads LLC.  Lincoln Property Company purchased the asset for an undisclosed amount.  HFF is also engaged to arrange financing for the buyer. 

Galleria Place consists of Galleria Place I (5251 Westheimer), an 11-story, 217,006-square-foot office building; Galleria Place II (5333 Westheimer), a 10-story, 178,468-square-foot office building; Sage Plaza, a 5,797-square-foot retail building fully leased to a local high-end salon and tailor; Regions Bank, a single-story bank branch and drive-thru connected to Galleria Place I and included in its square footage; and two parking garages with 1,361 spaces.

  Galleria Place is 53 percent leased to tenants including Just Energy and HIS.  The properties occupy six acres bounded by Sage and Westheimer Roads and West Alabama Street directly across from the Houston Galleria, Houston’s premier destination for shopping and dining. 

The HFF investment sales team was led by senior managing director Dan Miller and director Martin Hogan.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

www.songyhighroads.com

Taylor Johnson Now Represents the Chicago/Midwest Office of KTGY Architecture + Planning

Emily Johnson

CHICAGO, IL – Taylor Johnson President Emily Johnson announced Taylor Johnson now represents the Chicago/Midwest office of California-based KTGY Architecture + Planning, a national award-winning firm providing comprehensive planning and architectural design services for residential communities, retail, commercial, healthcare, civic, hospitality, mixed-use and related specialty developments.

 KTGY’s new Chicago studio was established through its merger with Glen Ellyn-based PPK Architects, a premier architectural firm with a 65-year history in designing commercial and residential projects throughout Chicago and the Midwest.

The Chicago office will be headed by former PPK leadership and veteran designers, Craig R. Pryde, AIA, LEED AP, and David M. Kennedy, AIA, LEED AP, who will both serve as principals at KTGY.

For a complete copy of the company’s news release, please contact:

Julie Liedtke

Taylor Johnson

(312) 267-4521

jliedtke@taylorjohnson.com.

Marcus & Millichap Brokers $2 Million Sale of 47 Units at The Hamptons at Brandon in Brandon, FL

                                       

Casey Babb

BRANDON, FL,  Sept. 14, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of 47 units within The Hamptons at Brandon, an apartment community located in Brandon, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. 

The asset sold for $2,050,000.

Casey Babb, CCIM and vice president investments, Luis Baez, senior associate, and Armando Rodriguez, associate, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a developer.  The buyer, a private investor, was secured and represented by Babb and Baez. 

The Hamptons at Brandon is a 1980s vintage condominium community located at 609 Golden Raintree Place in Brandon, Florida.

The sale included 47 of 204 units that have been operating as rentals for the past nine years. The units are spread throughout the community which consists of 23 two-story buildings and two common area buildings housing the office, a clubhouse, laundry facilities and swimming pool areas.

Luis Baez

The units feature large, open floor plans, private patios, fully equipped kitchens with dishwashers and wash/dryer connections in roughly half of the units.

“The Hamptons at Brandon was a difficult transaction since it was a bulk-condo sale of a non-controlling interest and a short-sale,” says Baez.

“Our marketing campaign produced five offers including some with no contingencies, and by forming a market for the asset we were able to work with the lender to reach a workable settlement and help our client get out of the deal.”

For a complete copy of the company’s news release, please contact:

Richard D. Matricaria

Vice President/Regional Manager

Tampa. FL

(813) 387-4700