HOUSTON — Colliers has brokered the sale of a 6.9-acre industrial outdoor storage facility in northwest Houston. The facility at 14333 Sommermeyer St. features 80,295 square feet across two buildings as well as additional outdoor storage space. Jason Tangen and Barrett Gibson of Colliers represented the undisclosed seller in the deal. C.W. Sheehan, Jack Britton, Peyton Ackerman and Nate Henderson of JLL arranged acquisition financing on behalf of the buyer, Apricus Realty Capital, which was represented by Paul Dominique of Colliers.
NEW YORK CITY — Värde Partners, a Minneapolis-based lender, has provided a $125 million loan for the refinancing of an industrial building in Brooklyn. According to LoopNet Inc. the building at 630 Flushing Ave., which sits on a 7.8-acre, three-parcel site, totals roughly 575,000 square feet. The building was originally constructed in 1849 as the headquarters of Pfizer and was 88 percent leased at the time of the loan closing. Jason Gaccione and Jake Salkovitz of CBRE arranged the three-year, floating-rate loan on behalf of the owner, an affiliate of Acumen Capital Partners LLC.
METHUEN, MASS. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5 million bridge loan for the acquisition of a 30-unit apartment building in Methuen, a northern suburb of Boston. The newly renovated building at 11 Ashton Place houses studio, one- and two-bedroom units. The nonrecourse loan carries a five-year term, a 70 percent loan-to-value ratio, a sub-6 percent interest rate and a 30-year amortization schedule. Robert Bhat of MMCC arranged the loan. The direct lender was not disclosed. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the $7.1 million sale.
THORNTON, COLO. — JLL Capital Markets has secured $99.3 million in refinancing for 25 North, a Class A industrial complex in Thornton. Eric Tupler, John Rose and Emily Goldsberry of JLL worked on behalf of Sagard Real Estate, a subsidiary of the global alternative asset management platform Sagard, to secure a loan through a debt fund. Situated on 66.3 acres, the 936,775-square-foot industrial asset consists of nine buildings constructed between 2020 and 2024. The property features clear heights ranging from 28 feet to 32 feet, 205 dock-high doors, 34 drive-in doors and 1,770 parking spaces. The development offers flexible configurations with suite sizes ranging from 14,262 square feet to 135,000 square feet. The properties offer accommodations for both single and multi-tenant operations for warehouse, distribution and showroom uses.
MIAMI — Walker & Dunlop has provided a $238.4 million Freddie Mac loan for the refinancing of Forma Miami, a 588-unit mixed-use apartment building in the city’s Edgewater neighborhood. The Walker & Dunlop team that originated the financing included Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Dustin Stolly, Sean Reimer, Michael Stepniewski and Michael Ianno. The borrower is local developer Crescent Heights. Specific loan terms were not disclosed. Rockwell Group and Arquitectonica designed Forma Miami to have condo-style interior finishes, along with 85,000 square feet of indoor and outdoor amenity space that includes a 10,000-square-foot fitness pavilion, both lounging and lap pools, a dog lounge, pickleball court, meditation room, sports bar/beer garden, game room and a rooftop terrace with a private bar/lounge. Forma Miami also has an entire floor that functions as a dedicated coworking lounge. Residences at Forma Miami come in studio, one-, two- and three-bedroom and range in size from 485 to 1,980 square feet. Units feature various pieces of smart-home technology, private terraces, floor-to-ceiling windows, quartz countertops, white oak cabinetry and individual washers and dryers. Amenities include a 10,000-square-foot fitness pavilion, both lounging and lap pools, a dog Lounge, pickleball court, meditation room, sports bar/beer garden, game room and a rooftop terrace with a private …
WEST PALM BEACH, FLA. — Newmark has arranged the $70 million sale of Visions of Willow Pond, a 300-unit, garden-style multifamily community located in West Palm Beach. Tal Frydman and Hampton Beebe of Newmark represented the seller, Bar Investment Group, in the transaction. Jim Badolato, Mike McKee and Kippy Donovan, also with Newmark, secured a $50 million Freddie Mac loan to finance the purchase of the property on behalf of the buyer, Morgan Properties. The buyer plans to implement a capital improvement program at the property to enhance community amenities and upgrade units. Situated at 4860 Sand Stone Lane, Visions at Willow Pond totals 17 buildings and features one- and two-bedroom floorplans ranging in size from 521 square feet to 1,064 square feet, according to Apartments.com. Amenities at the property include a resort-style swimming pool, sundeck, 24-hour fitness center, tennis court, playground and clubhouse lounge.
CHARLOTTE, N.C. — JLL Capital Markets has arranged refinancing for Connery on Providence, a newly constructed, 200-unit active adult community located in Charlotte. Travis Anderson, Brad Woolard, Ryan Mueller and Timothy Hosmer of JLL represented the borrower, Proffitt Dixon Partners, in securing the loan through New York Life Insurance Co. The loan size was not disclosed. Completed in 2023 on nearly 13 acres, Connery on Providence features one- and two-bedroom residences across four three-story buildings. Amenities at the property include a saltwater pool, wellness and fitness center, pickleball courts, spa facilities and concierge services. The community also offers a movie lounge, an overnight guest suite, a demonstration kitchen and dog spa.
NEW YORK CITY — ACRES Capital has provided a $42.5 million loan for the refinancing of The Congress, a 74-unit apartment building located on West 54th Street in Midtown Manhattan. According to StreetEasy, the building was originally constructed in 1923. The Congress also includes two office spaces and five retail spaces. The undisclosed sponsor will use a portion of the proceeds to fund upgrades of existing residences and common areas and convert former professional office suites into additional residential units.
PHOENIX — A joint venture between Harrison Street Asset Management, LCS and Ryan Cos. US Inc. has received refinancing for Clarendale Arcadia, a senior living community located in the Arcadia neighborhood of Phoenix. Ryan Stoll and Taylor Mokris of BWE arranged the financing — which features full-term interest-only payments, an initial 36-month term and two one-year extension options — on behalf of the joint venture. Completed in 2023, Clarendale Arcadia totals 248 residences, with 240 independent living units, 68 assisted living units and 40 memory care units. Amenities at the property include a bistro, fitness center, heated swimming pool, jacuzzi spa, putting greens, a movie theater, salon and spa, landscaped outdoor spaces and a full-service bar.
CHULA VISTA, CALIF. — UTEX Storage Partners has obtained $23.4 million in nonrecourse construction financing for Chula Vista Storage, a to-be-built self-storage facility in Chula Vista. Brian Somoza led the JLL team in arranging the four-year, floating-rate loan through a life insurance company. Upon delivery in 2026, Chula Vista Storage will offer 123,582 square feet of storage space within two three-story buildings. The facility will feature an onsite office, security, a 24-hour surveillance system, controlled access, climate-controlled units and boat/RV storage. The property is located on 9.3 acres near the intersection of South Bay Expressway and Eastlake Drive, approximately 12 miles southeast of downtown San Diego. A REIT third-party management platform will operate and manage the property.