Mixed-Use

First Phase of Journal Squared Tops Out in Jersey City

by Amy Works December 18, 2015

JERSEY CITY, N.J. — Construction for the first phase of Journal Squared in Jersey City has topped out at 563 feet. The 53-story building, which will feature 538 residential units, is part of the three-tower, mixed-use project that is revitalizing Jersey City’s historic Journal Square neighborhood. Scheduled for completion in late 2016, the first phase will feature a mix of studio, one-, two- and three-bedroom rental unit and more than 10,000 square feet of amenities, including a fitness center, golf simulator, children’s playroom, outdoor pool and entertaining space on the 53rd floor. Situated adjacent to the Journal Square PATH station, the three-phase project will also include a 60-story tower and a 70-story building. Upon completion, the project will bring 1,838 rental residences, 36,000 square feet of retail and restaurant space, and a pedestrian-friendly public plaza to the neighborhood. Designed by HWKN and Handel Architects, the project is being developed by KRE Group and National Real Estate Advisors.

December 18, 2015

Mixed-Use Multifamily Northeast Office Retail

NYCEDC, Bedford Courts LLC Unveil Plans for 500,000 SF Mixed-Use Development

by Amy Works December 17, 2015

NEW YORK CITY — New York City Economic Development Corp. (NYCEDC) and Bedford Courts LLC, a joint venture between BFC Partners and Slate Property Group, have unveiled plans for a 500,000-square-foot mixed-use development at the Bedford Union Armory in Brooklyn’s Crown Heights neighborhood. The development will bring hundreds of units of housing, a multi-sport recreational facility, community event space, office space and commercial space to Brooklyn. Planned in close coordination with community and local elected officials, the Bedford Union Armory project will activate the vacant building, which was built in 1903. Bedford Courts will develop the property on a long-term ground lease from the city into a 300-unit residential building and a commercial building with recreational, community and office space. Outfitted by Carmelo Anthony and The Carmelo Anthony Foundation, the recreational facility will feature basketball courts, a swimming pool and an indoor turf field. CAMBA, a Brooklyn-based non-profit organization, will operate and provide associated programming for the recreational facility and community event space.

December 17, 2015

California Loans Mixed-Use Multifamily Western

CBRE Arranges $47M Loan for The New Californian Mixed-Use Site in Berkeley

by Nellie Day December 16, 2015

BERKELEY, CALIF. — CBRE has arranged $47 in non-recourse financing for The New Californian, a mixed-use development in Berkeley. The property contains 148 apartment units and 15,700 square feet of retail space. The New Californian is located at 1988 Martin Luther King Jr. Way, about three blocks from UC Berkeley. The project was originally developed in 2010 by Hudson McDonald, the borrower. John Nelson, Michael Walker and Erik Franks of CBRE’s San Francisco office arranged the 10-year, fixed-rate loan.

December 16, 2015

Mixed-Use Multifamily New York Northeast Restaurant Retail

Eastern Consolidated Arranges $10M Sale of Mixed-Use Property in NYC

by Amy Works December 16, 2015

NEW YORK CITY — Eastern Consolidated has arranged the sale of a mixed-use building located at 157 E. 55th St. in New York’s Midtown East district. Goldie Moss Irrevocable Trust sold the 5,700-square-foot property to 157E55 Owner LLC for $10 million. The property features two vacant full-floor apartments on the top two levels and Darbar Grill, a popular restaurant, on the lower two levels. Additionally, the building features substantial air rights allowing for approximately 20,000 square feet of residential uses and 30,000 square feet of commercial or community facility space. Brian Ezratty and Scott Ellard of Eastern Consolidated represented the seller and procured the buyer in the sale.

December 16, 2015

Illinois Midwest Mixed-Use

Baum Realty Brokers Purchase of $7.7M Mixed-Use Property in Chicago

by Christina Cannon December 16, 2015

CHICAGO — Baum Realty Group LLC has brokered the purchase of a loft building in Chicago for $7.7 million. CLK Properties, a New York-based developer, purchased the 31,050-square-foot building from an undisclosed seller. The property, located at 112 N. May St., is three stories and includes 28 surface parking spaces. The first floor consists of retail space and the second and third floors could be used for office or residential space. The building was 100 percent vacant at the time of sale. Danny Spitz and Greg Dietz of Baum Realty represented the buyer in the transaction.

December 16, 2015

Mixed-Use Multifamily Office Retail Texas

Thor Equities Completes Residential Mat Foundation Pour At Kirby Collection

by Haisten Willis December 14, 2015

HOUSTON — Thor Equities has completed the residential mat foundation pour at Kirby Collection, a new mixed-use development at 3200 Kirby Drive in Houston. The foundation is seven feet thick and consists of 6,000 cubic yards of concrete with 500 tons of rebar. The continuous pour took eight hours to complete and involved 150 dedicated trucks, six pump trucks and more than 200 workers. The team involved in the mat pour included general contractor E.E. Reed Construction, Keystone Structural Concrete, Campbell Concrete & Materials, ECS Texas, HiTech Electric, Schnabel Foundation Company and developer Thor Equities. Located in the Upper Kirby District near Houston’s River Oaks neighborhood, the 1 million-square-foot project will feature a 25-story, 385,000-square-foot residential tower with 199 apartments including seven two-story townhomes, and seven two-story loft spaces with private yards. The residences will overlook a deck with more than an acre of landscaped amenities including a pool with cabanas, fire pits and a bar area. The penthouse level will feature a Skyview Suite available to all residents, offering a chef’s kitchen and views of the Houston skyline. Kirby Collection’s 13-story, 210,000-square-foot Class A office building is located near the Galleria/Uptown District, Greenway Plaza and the Texas Medical Center. …

December 14, 2015

Loans Mixed-Use North Carolina Southeast

Medalist Capital Arranges $345.6M Loan with MetLife for Ballantyne Corporate Park

by John Nelson December 14, 2015

CHARLOTTE, N.C. — Medalist Capital has arranged a $345.6 million loan through MetLife Inc. for the 535-acre Ballantyne Corporate Park in Charlotte. The 2.5 million-square-foot property features Class A office space, retail, restaurants, healthcare and two hotels. Don Williams and Mary Neill McKie of Medalist Capital’s Charlotte office arranged the long-term, fixed-rate loan on behalf of the borrower, The Bissell Cos. Ballantyne Corporate Park’s tenant roster includes the headquarters of MetLife’s U.S. retail business. The loan did not involve MetLife’s offices in Charlotte.

December 14, 2015

Mixed-Use Multifamily Retail Texas

Hillwood Begins Construction on $700M Mixed-Use Project in Metro Austin

by Haisten Willis December 11, 2015

GEORGETOWN, TEXAS — Hillwood Communities has begun construction on Wolf Ranch, a $700 million mixed-use development in Georgetown, a suburb of Austin. Hillwood acquired the 755-acre tract on Highway 29 and I-35 from the Wolf family in 2014. The development will include 900 apartment units, space for new retail and restaurants, 1,600 single-family homes and 140 acres of green space. The Georgetown Independent School District will serve the new community. The transaction was conducted between Hillwood Communities and the Wolf family’s representative, Iva Wolf McLachlan. Wolf Ranch is expected to house 4,000 residents once the development is completed.

December 11, 2015

Mixed-Use Retail Texas

Retailers Join Boardwalk at Towne Lake Mixed-Use Development in Houston

by Haisten Willis December 11, 2015

HOUSTON — More retailers have signed on at Caldwell Cos.’ Boardwalk at Towne Lake development, including two food shops, The Cheese Bar and Flying Vine; restaurant Sam’s Boat; and Frontier Title. In addition to these four leases, the project includes already-signed restaurants Jaxton’s, Taisho, World of Beer, Land of Thousand Hills Coffee Co. and MOD Pizza; retailers Nails of America, Orangetheory Fitness, Massage Heights and The Reserve Salon; Texas Children’s Pediatrics and Copper Creek Orthodontics. The site is accessible by walking, driving or boating. The Cheese Bar offers artisanal cheeses alongside a cheese-focused café, wine and beer offerings. Sam’s Boat serves seafood, Tex-Mex and more. Frontier Title is a title insurance company.

December 11, 2015

District of Columbia Loans Mixed-Use Southeast

NorthMarq Capital Arranges $8.3M Loan for The Conway Center in D.C.

by John Nelson December 9, 2015

WASHINGTON, D.C. — NorthMarq Capital has arranged an $8.3 million FHA 221(d)(4) construction-to-permanent loan for The Conway Center, a $90 million, 320,000-square-foot mixed-use project in Washington, D.C. The project will be occupied by SOME (So Others Might Eat), an interfaith, community-based, tax-exempt organization. The property will occupy a full city block on Benning Road and will combine affordable housing, job training and healthcare services. The Conway Center is capitalized with public funding, tax credits, tax-exempt bonds and low-interest loans. The Conway Center will annually provide 172 homeless and low-income men and women with affordable housing and 15,000 underserved men, women and children with comprehensive care at the Medical and Dental Health Center operated by Unity Health Care. An estimated 300 adult students will receive job training at SOME’s Center for Employment Training, and 30 homeless and low-income families will be provided with affordable housing. Frank Relihan and Brendan Scanlon of NorthMarq Capital’s Washington, D.C., office arranged the loan, which contributed to the $86.7 million that has been raised for the project thus far. SOME is currently seeking the final $3.3 million to complete the development. Construction for SOME’s facility, which features staff offices and retail space, began Nov. 15 with …

December 9, 2015

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