BRECKSVILLE AND VERMILION, OHIO — Browns Gibbons Lang & Co. (BGL) Real Estate Advisors has arranged development financing for Valor Acres in Brecksville, a southern suburb of Cleveland, and The Bluffs at WaterWood Resort in Vermilion, about 42 miles west of Cleveland. The borrower was DiGeronimo Cos. Fifth Third Bank & First Commonwealth Bank provided the financing for Valor Acres, a mixed-use development incorporating 44,000 square feet of Class A office space, 221 luxury apartment units, 70,000 square feet of retail and entertainment space, an onsite safety station and 700-space parking garage. The project is being developed on the former site of the U.S. Department of Veterans Affairs Brecksville hospital. Valor Acres is also home to the new Sherwin-Williams Research and Development Center and the DiGeronimo corporate headquarters. DiGeronimo closed on Phase I of the project, which included a multifamily building as well as for-rent townhomes, in December 2021. The developer closed on the for-sale townhomes, attached loft homes, memorial park and clubhouse in June 2023. BGL also served as the financial advisor for those transactions. In addition to senior construction debt from Fifth Third Bank, the project received transformational mixed-use development tax credits, Cleveland-Cuyahoga County Port Authority incentives and …
ROCKDALE, TEXAS — Industrial development firm Xebec has announced plans for Sandow Lakes, the mixed-use redevelopment of a 33,000-acre industrial park formerly occupied by aluminum manufacturer Alcoa in Rockdale, roughly 25 miles outside of Austin. Built in the early 1950s, the property — which spans 50 square miles — was home to the largest aluminum foundry in the world for decades until it closed its doors in 2008, according to reports from D Magazine. Phase I of the redevelopment, dubbed the Advanced Manufacturing Logistix Campus at Sandow Lakes, will ultimately comprise 35 million square feet of industrial space, including build-to-suit space with flexible clear heights and bay spacing. Development of the first phase of the project began last fall with first move-ins slated to begin in the third quarter of 2026. Xebec will target distribution and manufacturing tenants, including cold storage users, in this initial phase. Further plans for the development include the addition of residential, retail, office and hospitality space connected by a series of lakes. A timeline for the development in full was not announced. The property is located in the Texas Triangle, a region of the state that includes its five largest cities — Austin, Houston, Dallas, Fort …
SAN ANTONIO — Denver-based developer Huntington Industrial Partners has broken ground on a 309,086-square-foot speculative project in San Antonio. Known as I-10/I-410 Distribution Center, the two-building development will feature 32-foot clear heights, 180-foot truck court depths, 69 dock doors, four drive-in ramps, an ESFR sprinkler system and parking for 75 trailers and 228 cars. Cushman & Wakefield is the leasing agent. Completion is slated for September.
CEDAR PARK, TEXAS — Holt Lunsford Commercial Investments (HLCI) will develop a 281,040-square-foot industrial project in Cedar Park, a northwestern suburb of Austin. The site spans 22 acres along State Highway 183A, and the development will consist of three rear-load buildings that will total 138,600, 97,200 and 45,240 square feet. Construction is expected to begin before the end of the year and to last about a year.
CALIFORNIA — Wilmington, N.C.-based Live Oak Bank has provided a $40 million loan to finance the ground-up construction of a new seniors housing community in California. Upon completion, the property will feature 140 assisted living and memory care units. Additional details about the property were not released. Live Oak Bank provided the financing, which features a five-year term and 42 months of interest-only payments, in conjunction with a $39.6 million C-PACE loan provided by Nuveen Green Capital. A joint venture between Harbert Seniors Housing Fund II and Harbert South Bay Partners was the borrower.
PROVIDENCE, R.I. — LRT Co., a developer of traditional multifamily and seniors housing properties, has acquired 12.4 acres in Providence for the development of a $65 million seniors housing project. Known as Tiffany Laurel Reserve, the property will total 157,000 square feet upon completion and feature 127 independent living residences and 77 assisted living and memory care units. Roughly 25 percent of the units will be reserved for low-income residents. The development will also feature 56 garage parking spaces. Construction is scheduled to begin this summer.
ST. LOUIS — Procter & Gamble (P&G) has expanded operations in St. Louis, investing $180 million and creating 100 new jobs. P&G’s St. Louis facility has been in operation for nearly a century and produces brands including Cascade, Mr. Clean and Febreze. The company’s expansion includes the addition of new equipment and a new warehouse at its existing St. Louis riverfront location, the conversion of an existing warehouse to a manufacturing facility and the construction of a new office building. MilliporeSigma has unveiled plans to invest $76 million and create 170 new jobs in St. Louis. This investment will triple the company’s manufacturing capacity for antibody drug conjugates for cancer treatment at the Bioconjugation Center of Excellence.
WEST ALLIS, WIS. — McShane Construction Co. will build The Apiary, a two-building, 248-unit apartment complex in the Milwaukee suburb of West Allis. Land by Label is the developer. A two-story amenity space will connect the two buildings and feature a clubroom, sports bar, fitness center and golf simulator. Outside, a courtyard will house a swimming pool and grill area. McShane will perform environmental remediation prior to construction on the site, which formerly housed a manufacturing campus. Completion of the project is slated for October 2026. AG Architecture is the architect of record.
MIAMI — Major League Baseball’s Miami Marlins have formed a partnership with The Cordish Companies to develop Miami Live! at loanDepot Park, the home ballpark of the Marlins. The entertainment destination in the city’s Little Havana neighborhood will feature indoor-outdoor dining and entertainment spaces aimed at elevating the fan experience, including year-round space activations. The official opening of Miami Live! is anticipated for early 2026. LoanDepot Park opened in 2012 and hosts events such as the World Baseball Classic, Caribbean Series and Choque de Gigantes in addition to Marlins home games. “This project represents our commitment to our community, as we develop our ballpark’s campus to feature dining, entertainment and gathering options for everyone to enjoy,” says Bruce Sherman, Miami Marlins chairman and principal owner. The Marlins organization has prioritized sustainability and inclusivity in its design, including features such as energy-efficient lighting, accessible pathways and community art installations. Miami-Dade County Mayor Daniella Levine Cava emphasizes that the privately financed project comes at zero cost to taxpayers. The project is being developed and designed in partnership with Cordish, which is known for its sports-anchored mixed-use developments. Cordish has partnered with many of the country’s professional sports franchises, including the St. Louis …
FRISCO, TEXAS — Texas-based multifamily developer Presidium has completed Presidium Frisco Square, a 368-unit multifamily project located within the Frisco Square mixed-use development in metro Dallas. Units come in studio, one-, two- and three-bedroom floor plans and feature keyless entry mechanisms, ecobee thermostats and energy-efficient appliances. Amenities include a pool, three courtyards with outdoor kitchens, a dog park, clubroom, cinema lounge, golf simulator, fitness center and a business center with micro-offices and a podcast room. Dallas-based O’Brien Architects designed the project, construction of which began in late 2021. Rents start at $1,367 per month for a studio apartment.