RALEIGH, N.C. — Halpern Enterprises Inc. has completed Leesville Market Place, a 62,880-square-foot retail development in Raleigh. Publix anchors the property, located inside Interstate 540 at the intersection of Leesville and Strickland roads. Situated adjacent to CVS, Walgreens, a medical office building and Leesville Towne Centre, Leesville Market Place will add tenants Hollywood Feed, Sport Clips and Noire the Nail Bar early next year.
MINNEAPOLIS — Brickstone Partners Inc. and KMK Capital, in partnership with Deutsche Finance America, are developing LakeHaus, a 200-unit apartment community on Lake Calhoun in Minneapolis. The eight-story project will be situated on a 1.7-acre site at 3100 W. Lake St. The unit mix includes 36 studios, 85 one-bedroom units, 74 two-bedroom units and five penthouses. Amenities will include a rooftop swimming pool, clubroom, fitness center, lobby with coffee bistro, courtyards and grilling stations. Completion is slated for 2020. Kristian Lichtenfels, Josh Simon, Stella Pappas and Jules Sherwood of HFF arranged a construction loan through a national bank. The team also arranged mezzanine financing through EverWest Real Estate Partners. The development is valued at more than $119 million, according to HFF.
BRIDGEWATER, N.J. — LCS has closed acquisition financing and started construction of The Delaney of Bridgewater, a new seniors housing community in Bridgewater, approximately 45 miles southwest of Manhattan. Totaling 262,000 square feet, the property will be the fifth under the Delaney brand for LCS and the first outside Texas. When complete, the community will offer 122 independent living apartments, 15 freestanding villas, 56 assisted living units and a 32-unit memory care neighborhood. The community is slated to open in the fall of 2020. Financial terms were not disclosed, though BMO Harris was involved in the construction financing.
PFLUGERVILLE, TEXAS — Presidium Group has begun work on Phase I of Pecan District, a 45-acre mixed-use project in the northern Austin metro of Pflugerville. Phase I will deliver The Elliott, a 272-unit multifamily property that is expected to be ready for occupancy in 2020. Designed by Mark Odom Studio, The Elliott will feature one- and two-bedroom units averaging 855 square feet per unit and amenities such as a pool, fitness center, business center and outdoor kitchen area. Pecan District is a 10-phase development that will feature 1,150 residential units, 998,000 square feet of office space and 228,000 square feet of retail and restaurant space upon its expected completion date in 2028.
NORTH CHARLESTON, S.C. — Charlotte, N.C.-based companies FCA Partners and Spectrum have kicked off the construction of a multifamily development in North Charleston. The joint venture acquired the land in late October for the project, which is expected to cost $43 million and bring 286 units near Charleston International Airport. Amenities are set to include a saltwater pool, two-story clubhouse, fitness center and a dog park. Completion is slated for summer 2020. This is the second project under development for the firms’ partnership. In September, the joint venture began construction on a 199-unit apartment complex in Greenville. This is the first time since 2014 FCA has capital investment in the multifamily sector.
KEARNY, N.J. — Cushman & Wakefield has brokered the sale of a six-acre development site in Kearny. The sales price was undisclosed. A multifamily community is planned at the property, which is located at 60 Passaic Ave. The site is a former industrial property that has sat vacant for three decades. Brian Whitmer, Robert Shapiro, Andrew Merin, David Bernhaut, Gary Gabriel and Ryan Dowdof Cushman & Wakefield represented the seller, a family estate, in the transaction. The buyer was Russo Development.
MANSFIELD, TEXAS — Trez Forman Capital Group has provided a $59.3 million construction loan for Shops at Broad, a 193,825-square-foot retail power center in Mansfield, a southwestern suburb of Dallas. Belk, T.J. Maxx and Aldi will anchor the property, which will be situated on 58 acres. Other tenants will include Starbucks, Five Guys and FLIX Brewhouse. The $59 million loan was arranged by Brett Forman and John Hutchinson, President of Trez Capital Group Texas, based in Dallas. Trez Forman Managing Director Russ Holland, based in Atlanta, was also part of the origination team. The loan’s sponsor is Clarke Coole of Geyer Morris, who was advised by Will James of NorthMarq Capital. A firm timeline for construction has not yet been established, but the development team believes the project could be complete within the next couple years.
WACO, TEXAS — Adolfson & Peterson Construction will build a $32 million, 106,000-square-foot sports medicine facility in Waco. Designed by HKS Architects, the property will be situated on the Baylor Scott & White Hillcrest campus, adjacent to the interchange of Interstate 35 and State Highway 6, about 6.5 miles from Baylor University. Services will include an orthopedic and sports medicine clinic, outpatient surgery center and a diagnostic imaging center. Construction began in November. The facility is expected to be operational by 2020.
KILDEER, ILL. — Ankura Healthcare Real Estate Solutions and Medicus Capital have broken ground on a 50,000-square-foot outpatient care center in Kildeer. The new facility will be located on a five-acre site at the corner of Rand and Cuba roads. Northwest Community Healthcare will occupy the facility. Slated for completion in late 2019, the building will be home to primary care, physical therapy and cardiac rehab and include an immediate care center, advanced imaging center and lab. Leopardo Cos. Inc. is the contractor and Jensen & Halstead Ltd. is the architect. Lake Forest Real Estate Capital LLC arranged $19.1 million in development financing through Wintrust Financial.
ENNIS, TEXAS — Abode Properties, a subsidiary of Transcontinental Realty Investors Inc. (NYSE: TCI) has begun leasing Spyglass of Ennis, a 188-unit multifamily community in Ennis, about 35 miles south of Dallas. The Class A property offers one- and two-bedroom units and amenities such as a pool, fitness center, outdoor grilling area and a jogging trail.
