Mixed-Use

Silverman & Co. Begins Development of The District at Deerfield Near Cincinnati

by Kristin Harlow October 22, 2018

DEERFIELD TOWNSHIP, OHIO — Silverman & Co. Inc. has broken ground on Phase I of The District at Deerfield, a $120 million mixed-use project in Deerfield Township near Cincinnati. Phase I includes a 242-unit apartment property known as One Deerfield and a medical office complex to be occupied by Mercy Health. Floor plans at One Deerfield will range from 590 to 1,600 square feet. Community amenities will include a wine and beer garden, fire pit, pool, fitness center, coffee bar, gaming lawn, pet spa and dog parks. Completion is slated for fall 2019. Phase II will encompass a variety of commercial offerings, with an emphasis on premier dining, shopping and entertainment. OnSite Retail Group will oversee the lease-up of the 95,000-square-foot retail and restaurant space. Plans also call for a 150-room hotel and a community park.

October 22, 2018

Development Loans Mixed-Use New York Northeast

Madison Realty Capital Originates $36.1M Construction Loan for Mixed-Use Development in Upper West Side

by David Cohen October 19, 2018

NEW YORK CITY — Madison Realty Capital has provided a $36.1 million construction loan for a mixed-use development in the Upper West Side neighborhood of Manhattan. Located at 214 W. 72nd St., a vacant, five-story building currently occupies the property. The borrower, a partnership between Scott Shnay of SK Development and Charles Blaichman of CB Developers, is planning to construct a 21-story, 38,000-square-foot mixed-use project on the site that will include both residential and retail uses.

October 19, 2018

Acquisitions Mixed-Use New York Northeast

Marcus & Millichap Negotiates $6.7M Sale of Development Site in Brooklyn

by David Cohen October 19, 2018

NEW YORK CITY — Marcus & Millichap has negotiated the $6.7 million sale of a 14,000-square-foot development site in the Red Hook neighborhood of Brooklyn. Located at 153-161 Van Dyke St., the property includes 140 feet of frontage on Van Dyke Street. Jakub H. Nowak, Matthew Rosenzweig and Jesse Kay of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was also a private investor.

October 19, 2018

Development Georgia Mixed-Use Southeast Top Stories

Simon Breaks Ground on $300M Phipps Plaza Redevelopment in Atlanta’s Buckhead District

by Taylor Williams October 19, 2018

ATLANTA — Simon Property Group (NYSE: SPG), the owner and developer best known for Class A malls, has broken ground on the $300 redevelopment of Phipps Plaza, an upscale shopping mall located in Atlanta’s Buckhead district. The project is a redevelopment of the former Belk department store and surface parking space at the 821,000-square-foot, three-story mall. It includes a new, 150-room hotel by Nobu Hotels, a luxury line co-founded by Robert De Niro. The hotel will offer a rooftop pool, spa and a corporate conference center, as well as a Nobu Atlanta Restaurant, a Japanese eatery that will occupy 10,000 square feet. The redevelopment will also deliver One Phipps Plaza, a 13-story, 350,000-square-foot office building that features a three-story parking garage. Other components of the project include a 90,000-square-foot Life Time Athletic Center with a rooftop pool, beach club and bistro. The redevelopment will also create an outdoor event venue and communal green space. “Phipps Plaza has long been a luxury icon in the Southeast and this expansion will further elevate its exceptional position by creating a reimagined destination to live, work, shop, and dine, unlike any other in the region,” said David Simon, chairman and CEO of Simon. According to …

October 19, 2018

Arkansas Georgia Industrial Loans Mixed-Use Office Retail Southeast

North Avenue Capital Closes Two Loans Totaling $16.8M for Properties in Georgia, Arkansas

by Amy Works October 18, 2018

WAYCROSS, GA. AND PARAGOULD, ARK. — North Avenue Capital has closed two acquisition loans totaling $16.8 million for properties in Georgia and Arkansas. USDA Rural Development Business & Industry funded the loans on behalf of the undisclosed borrowers. In Waycross, North Avenue arranged $7.3 million in financing for the acquisition of a 51,548-square-foot mixed-use center. Enhanced Resource Corp., a business management operation, anchors the property. Other tenants include Surchero’s Fresh Grill, AppleCare, Bone & Joint Institute and Southeastern Credit Union. In Paragould, North Avenue arranged a $9.3 million acquisition loan for a 579,015-square-foot, single-tenant industrial facility. Arkansas-based LA Darling occupies the property, which it has leased for more than 50 years. LA Darling, a Berkshire Hathaway subsidiary, is a retail merchandising solutions firm that builds out physical displays and fixtures for chains such as Walmart and Best Buy.

October 18, 2018

California Mixed-Use Top Stories Western

Public-Private Partnership Breaks Ground on $453M Redevelopment Project in LA’s Koreatown District

by John Nelson October 18, 2018

LOS ANGELES — Trammell Crow Co. (TCC), in a public-private partnership with the County of Los Angeles (LA County), Public Facilities Group and Meta Housing Corp., has commenced construction of Vermont Corridor, a three-site redevelopment project in Los Angeles’ Koreatown submarket. The development costs are estimated at $453 million, according to local media reports. LA County owns all three sites, which span three city blocks between 4th and 6th streets. Situated on Vermont Avenue within one block of the Metro Red and Purple subway lines, the transit-oriented project comprises: • a new, 468,000-square-foot, Class A office headquarters for the LA County Department of Mental Health and Workforce Development, Aging and Community Services • an adaptive reuse of an existing 12-story office building into 172 residential units and • a 72-unit affordable seniors housing complex with a 13,000-square-foot community center to be operated by the YMCA of Metropolitan Los Angeles Construction will occur in multiple phases, beginning with the development of the Vermont Corridor County Administration Building. Designed by Gensler, the 21-story building will feature 7,500 square feet of ground-floor retail space, a peer resource center, fitness facility, open office floor layouts, outdoor terrace with an amenity deck, an indoor/outdoor conference …

October 18, 2018

Connecticut Loans Mixed-Use Northeast

Cronheim Mortgage Arranges $11.5M Refinancing for Mixed-Use Property in Norwalk

by David Cohen October 17, 2018

NORWALK, CONN. — Cronheim Mortgage has arranged an $11.5 million refinancing for SoNo Square, a 94,472-square-foot mixed-use property in Norwalk. Cronheim secured the financing on behalf of borrower SoNo Square Associates, an affiliate of Westport-based David Adam Realty. The lender was undisclosed. Terms of the financing include three years of interest-only payments and a 30-year amortization schedule. The tenant roster at SoNo Square includes Lilian August Design warehouse, West Marine and Barteca Restaurants LLC, the owner of the Barcelona Wine Bar and Bartaco chains.

October 17, 2018

Development Mixed-Use Texas

Endeavor to Develop 29-Story Mixed-Use Tower in Austin

by Taylor Williams October 17, 2018

AUSTIN, TEXAS — Endeavor Real Estate Group will develop 93 Red River, a 29-story mixed-use tower that will be located in the Rainey Street District near downtown Austin. According to austin.towers.net, the property will feature 18 floors of residential units, three floors of office space, seven levels of parking and 12,817 square feet of restaurant space. Austin-based Endeavor expects to complete the project by the third quarter of 2020.

October 17, 2018

Development Mixed-Use Texas

TIG to Develop 16-Acre Mixed-Use Project in Metro Austin

by Taylor Williams October 15, 2018

GEORGETOWN, TEXAS — Frisco-based TIG Real Estate Services will develop Westinghouse Road Corporate Center, a mixed-use project that will span 16 acres in the northern Austin metro of Georgetown. The property will be located adjacent to a 432-unit townhome community and upon completion will feature office, retail, flex and medical office space. The project is expected to break ground before year’s end and to carry a construction period of six to seven months.

October 15, 2018

Colorado Hospitality Loans Mixed-Use Office Restaurant Retail Western

Continuum Partners Receives $110M Refinancing for Mixed-Use Project in Downtown Denver

by Amy Works October 12, 2018

DENVER — Denver-based Continuum Partners has received $110 million in financing for A Block, a mixed-use development located in downtown Denver. The 310,055-square-foot project features the 200-key Kimpton Hotel Born, located at 1600 Wewatta St., and a 54,976-square-foot Class A office building with ground-level retail space and a 197-space parking garage, located at 1881 16th St. Completed in 2017, A Block has two separate components: the 12-story Hotel Born and the five-story office and retail portion. The hotel features 13,937 square feet of flexible meeting space, a fitness center, business center, ground-floor retail space and two food and beverage options, Citizen Rail Restaurant in the hotel lobby and Tavernetta. The fully occupied office building features 7,929 square feet of retail space leased to national tenants. Eric Tupler, Leon McBroom and Tyler Dumon of HFF arranged the floating-rate loan with a national bank. Loan proceeds will be used to retire the existing construction financing, which was placed by HFF in 2015.

October 12, 2018

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