Mixed-Use

Pollack Shores Announce Plans for Mixed-Use Property in Nashville’s Gulch Neighborhood

by John Nelson May 13, 2015

NASHVILLE, TENN. — Pollack Shores Real Estate Group has announced that its new mixed-use development in Nashville’s Gulch neighborhood will feature 376 upscale apartment units, 9,000 square feet of retail space and a parking garage. Pollack Shores recently closed on the purchase of the site, which spans an entire city block and contains the Gossett Building and several land parcels. The site is bordered by Church Street and 12th Avenue North. Pollack Shores plans to salvage and restore the vintage neon M.T. Gossett sign outside the building for future use in the development. The new development’s apartment units will be outfitted with quartz countertops, European cabinetry, plank flooring, under mount sinks and stainless steel appliances. Matrix Residential, Pollack Shores’ multifamily management division, will manage the asset upon completion. The first residential units are expected to be available beginning in spring 2018.

May 13, 2015

Mixed-Use Restaurant Retail Texas

Good Union Urban Barbeque to Open in CityLine Mixed-Use Development

by Haisten Willis May 12, 2015

RICHARDSON, TEXAS — KDC, a real estate development and investment firm, has announced that Good Union Urban Barbeque will open its first location at CityLine, the company’s 186-acre mixed-use project in Richardson. The restaurant will serve Texas barbeque. Meat will be smoked on an indoor fire pit equipped with ventilation to accommodate the building. There will be a patio facing the central plaza where guests can enjoy craft beers and premium cocktails from the full-service bar while listening to live music in the park. The 3,903-square-foot restaurant is scheduled to open in the fall of 2015. It will be located in the base of One CityLine at 1150 State St.

May 12, 2015

Alabama Mixed-Use Southeast

Retail Specialists Tops Out Mixed-Use Development in Montgomery

by John Nelson May 12, 2015

MONTGOMERY, ALA. — Birmingham-based Retail Specialists LLC has topped out 79C, its new mixed-use development located on Bibb Street between Commerce and Lee streets in downtown Montgomery. The development is located across from the Montgomery Convention Center. Upon completion, the development will feature 54 Class A multifamily units and 15,800 square feet of retail space on the ground floor. The retail space will house four to six retailers and Mellow Mushroom has already committed as a tenant. Golden Bell Capital and Iberia Bank provided construction financing for the development. The design team includes general contractor Brasfield & Gorrie, architect Live Design Group and engineer Goodwyn, Mills and Cawood. T.J. Wiliford of Partners Realty is handling the management and leasing for the multifamily portion of 79C, and David Plummer of Retail Specialists is handling the management and leasing responsibilities for the retail portion. The development team expects to deliver 79C in September 2015.

May 12, 2015

Mixed-Use Multifamily Texas

Morgan to Build Apartments Above New Midtown Whole Foods in Houston

by Haisten Willis May 11, 2015

HOUSTON — Morgan plans to start construction during the first quarter of 2016 on its latest Pearl luxury apartment project in Houston’s Midtown district. The eight-story complex will include apartments above a Whole Foods Market. The upcoming development is located in the 3100 block of Smith across the street from Morgan’s Pearl Midtown midrise that opened last summer. Ziegler Cooper is the project’s architect. The new apartment complex will feature 260 studios, one- and two-bedroom units. Amenities will include Bluetooth sound systems, a sky lounge, fitness center and pool. The Whole Foods Market store will be 40,000 square feet, with a second floor mezzanine for seating. Pearl will include components of Morgan’s LiveWell program, which focuses on providing a healthy and comfortable apartment lifestyle for residents of its Pearl branded projects.

May 11, 2015

Mixed-Use Retail Texas

Signorelli Co. Breaks Ground on Valley Ranch Town Center in The Woodlands

by Haisten Willis May 8, 2015

THE WOODLANDS, TEXAS — The Signorelli Co. has broken ground on Valley Ranch Town Center, a 240-acre retail district slated to open in early 2016 inside the 1,400-acre master-planned community of Valley Ranch. Valley Ranch is situated at the intersection of U.S. 59 and the Grand Parkway just north of Kingwood. A 135-acre park called The Grove will border the retail district. Other developments in Valley Ranch include construction of new homes in a variety of price ranges in the new Azalea District, along with several new parks and green spaces throughout the area. At completion, Valley Ranch will include 2,500 homes and townhomes and 1,000 multifamily residences. Valley Ranch Commerce District, a 70-acre corporate office park, and Valley Ranch Medical District, planned to include two acute-care hospitals and a medical village with shopping, dining and multi-family residential, are also slated for development in the future. Valley Ranch is located near Bush Intercontinental Airport, Houston’s Central Business District, The Galleria/Uptown, The Woodlands, and ExxonMobil’s new 385-acre campus in Spring.

May 8, 2015

Loans Mixed-Use Southeast Tennessee

Love Funding Secures $10.1M HUD Loan for Historic Court Square Center in Downtown Memphis

by John Nelson May 8, 2015

MEMPHIS, TENN. — Love Funding has closed a $10.1 million refinancing loan for Court Square Center, a historic mixed-use development in downtown Memphis. The property comprises three buildings: Lincoln American Tower, the Lowenstein Building and Court Annex 2. The project features 75 market-rate apartments and more than 32,000 square feet of commercial space. The Lowenstein Building and Lincoln American Tower are listed on the National Register of Historic Places. Court Square Center was redeveloped from 2006-2009 following a fire in October 2006 at a nearby church that spread to the development, resulting in a loss of the Court Annex building and severe damage to the other two properties. Artin Anvar of Love Funding’s Washington, D.C., office arranged the loan through HUD’s 223(f) loan program. The loan features a low fixed interest rate and a 35-year term. A development team comprising John Basek, C. Yorke Lawson, Chandler and Chandler, Telesis Corp. and New Community Partners co-developed the property’s rehabilitation. The proceeds of the loan will be used us pay off the original debt taken out to redevelop the property.

May 8, 2015

Mixed-Use Multifamily New York Northeast Retail

Eastern Consolidated Arranges $50M Sale of Ridge Street Portfolio on NYC’s Lower East Side

by Amy Works May 7, 2015

NEW YORK CITY — Eastern Consolidated has arranged the sale the Ridge Street portfolio, three contiguous mixed-use buildings located on the Lower East Side. A partnership between Admiral Capital Group and Four Winds Realty purchased the properties for $50 million from Judah Klausner and Richard Freedman. Located at 198-200 Rivington St., 110-114 Ridge St. and 118 Ridge St., the portfolio includes 64,000 square feet featuring 61 residential units, three retail stores and one 6,250-square-foot community facility space. Deborah Gutoff of Eastern Consolidated procured the buyer, while Gutoff and Ronda Rogovin, also of Eastern Consolidated, represented the sellers in the transaction.

May 7, 2015

Connecticut Loans Mixed-Use Multifamily New York Northeast Retail

Avant Capital Partners Originates $6.3M in Bridge Loans for Two Properties

by Amy Works May 7, 2015

NEW YORK CITY AND GREENWICH, CONN. — Avant Capital Partners has originated $6.3 million in bridge loans for two properties in Manhattan and Greenwich. The project located in Manhattan’s Midtown West neighborhood comprises three contiguous mixed-use properties offering 20 apartments and three ground-floor retail units in a total of 16,916 square feet. In Greenwich, the asset consists of four under-construction condominium units. Each unit will feature three bedrooms, 3.5 bathrooms and high-end interior finishes, including hardwood floors and high ceilings. The average unit size for the condos is 3,650 square feet.

May 7, 2015

Loans Mixed-Use Northeast Pennsylvania

National Real Estate Development Closes $141M Construction Loan for 1100 Market Street

by Amy Works May 4, 2015

PHILADELPHIA — National Real Estate Development has closed on a $141 million construction loan for 1100 Market Street, a mixed-use development at National’s East Market in Philadelphia’s Center City. The loan, which was provided by Ullico Inc., will allow for vertical construction of 1100 Market Street. National has also tapped Tutor Perini Building Corp. as general contractor for the $260 million mixed-use project. The project will feature an 18-story, 500,000-square-foot mixed-use complex, including a 16-story 322-unit residential tower; a 19,000-square-foot amenity level and outdoor deck above a two-story, 105,000-square-foot split retail podium; and 187 below-grade parking spaces and centralized loading. East Market is owned by National Real Estate Advisors, JOSS Realty Partners LLC, Young Capital LLC and SSH Real Estate.

May 4, 2015

Healthcare Loans Mixed-Use Southeast Tennessee

HFF Arranges Refinancing for Mixed-Use Medical Center in Nashville

by John Nelson May 1, 2015

NASHVILLE, TENN. — HFF has arranged refinancing for One Hundred Oaks, an 891,470-square-foot mixed-use retail and medical office center in south Nashville. Redeveloped in 2010, the property is located off I-65 within five miles of Vanderbilt Hospital and Vanderbilt University. Vanderbilt University Medical Center fully occupies One Hundred Oaks’ medical office space, which comprises more than 50 percent of the property’s overall square footage. The retail portion is 99 percent leased to Regal Cinemas, Burlington Coat Factory, Ross Dress for Less, T.J. Maxx, PetSmart, Michael’s, Electronic Express, Guitar Center, Ulta Beauty, Kirkland’s Home, Sketchers, Logan’s Roadhouse, Panera Bread and Panda Express. John Rose, Campbell Roche and Gay Thomas of HFF arranged the fixed-rate loan through Northwestern Mutual on behalf of the borrower, LaSalle Investment Management.

May 1, 2015

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