Roseville senior housing sold for $16.55 million

Real estate investors continue to look for upside in Sacramento multifamily properties, even for older folks.

DiNapoli Capital Partners made such a move when it bought Alta Manors senior housing in Roseville earlier this month for $16.55 million.

Mike Garbers, managing director with deal broker Greystone Real Estate Advisors, said demographics are part of the reason. An aging population means more demand for senior housing such as Alta Manors, which was built in 2008 and has 86 units.

“It had…

Hobby Lobby site work begins as Derby Marketplace expansion ramps up

A plan to add 100,000 square feet of retail space to the Derby Marketplace development is ramping up.

The latest expansion centers on a previously vacant space between Petco and Dillons Marketplace in that development.

Already, preliminary grading and utility work is under way for a Hobby Lobby store there. The Derby Planning Commission green-lighted that project in March, confirming earlier reports of Hobby Lobby’s interest in the Derby Marketplace Development.

The store will be 55,000 to 65,000…

Senate leaders drop opposition to Dorothea Dix property sale

A state Senate bill that could have delayed or blocked the pending $52 million sale of the Dorothea Dix campus to the city of Raleigh has been dropped.

The co-chairs of the Senate Health Care Committee, Sen. Ralph Hise, R-Mitchell; Sen. Louis Pate, R-Wayne; and Sen. Tommy Tucker, R-Union, had filed Senate Bill 705 in March, which would have required the property be sold through an upset-bid process instead of through a negotiated agreement that was hashed out between state and city lawmakers in…

Federal government hires JLL for massive EPA real estate search in downtown Dallas

After being the largest tenant in Fountain Place for more than a decade, the United States Environmental Protection Agency’s Region 6 office at the iconic I.M. Pei-designed skyscraper in Dallas is expected to have an even bigger real estate footprint.

Through the federal government’s General Services Administration, JLL has been hired to help find a new home for the EPA in the city’s urban core.

“The task order for the EPA project in Dallas was issued to JLL,” GSA spokeswoman Tina Jaegerman told…

St. Paul Macy's buyer is a Walgreens developer

The company buying a piece of the St. Paul Macy’s building has a track record of developing Walgreens stores in the Twin Cities.

Capital Real Estate Inc. of Minneapolis controls the company that bought 25,570 square feet of the Macy’s building, at 396 Wabasha St., and has been involved with several Walgreens developments.

Capital Real Estate owner Rick Hauser said he has not signed a lease with any tenant and declined to say if he was working with Walgreens for the Macy’s space on the street level…