REBusinessOnline

Berkadia Provides $24M Refinancing Loan for New Workforce Housing Community in Hinesville, Georgia

HINESVILLE, GA. — Berkadia has provided a $24 million Fannie Mae refinancing loan for Liberty Club Apartments, a 240-unit workforce housing complex in Hinesville. The borrower, Winter Park, Fla.-based Hillpointe, delivered the property in 2019. The 12-year loan features a fixed interest rate with five years of interest-only payments. Loan proceeds will be used to retire the existing construction loan. The community is located at 915 E. General Stewart Way, 40 miles southwest of downtown …

Marcus & Millichap Arranges $19.1M Sale of Multifamily Community in D.C.

WASHINGTON, D.C. — Marcus & Millichap has arranged the $19.1 million sale of Griffin Apartments at Petworth Metro, a 49-unit multifamily community in Washington, D.C.’s Petworth neighborhood. The property, which was built in 2011, offers one- and two-bedroom floor plans. Communal amenities include bike storage, an Amazon Hub package delivery system and 24-hour maintenance services. The property is situated at 3801 Georgia Ave. NW, one block from the Petworth Metro Station and three …

TSCG Negotiates $11.7M Sale of Retail Property in Metro Miami

NARANJA, FLA. — TSCG has negotiated the $11.7 million sale of Naranja Lakes Shopping Center, a 90,450-square-foot, grocery-anchored retail property in Naranja. The property was 95 percent leased at the time of sale to tenants including Winn-Dixie, Family Dollar and La Colonia Medical Center. The asset is situated at the intersection of U.S. Highway 1 and Naranja Lakes Blvd., 29 miles south of downtown Miami. Anthony Blanco of TSCG represented the seller, an affiliate of Asheville, N.C.-based …

Flagship Healthcare Trust Acquires 55,912 SF Medical Office Building in Hickory, North Carolina

HICKORY, N.C. — Flagship Healthcare Trust Inc. has acquired Tate Medical Commons IV, a 55,912-square-foot medical office building in Hickory. The Charlotte-based REIT will also manage the property, which was fully leased at the time of sale to tenants including Catawba Valley Medical Center and Catawba Women’s Center. The asset is situated at 1501 Tate Blvd. SE, next to Tate Medical Commons. First Horizon Bank provided acquisition financing on behalf of the buyer. The seller and sales price …

Subaru Signs 550,000 SF Build-to-Suit Lease With Majestic in Aurora, Colorado

AURORA, COLO. — Subaru of America has signed a long-term lease with Majestic Realty Co. for a 550,000-square-foot build-to-suit facility at Majestic Commercenter in Aurora. Located at the intersection of Interstate 70 and Tower Road, the master-planned park encompasses 1,600 acres.Subaru will relocate from a smaller existing location and expand into the new regional office, parts distribution and technical training center for its retail service technicians.Groundbreaking is …

Trammell Crow, CBRE Global Investors Buy 24-Acre Site in Silicon Valley for Industrial Development

MORGAN HILL, CALIF. — Trammell Crow Co. (TCC) and Los Angeles-based CBRE Global Investors have acquired a fully entitled, 24-acre land site within Morgan Hill Ranch Business Park in Morgan Hill. Terms of the transaction were not released.The buyers plan to develop up to 440,000 square feet of light industrial space across five Class A buildings at the site. Dallas-based TCC plans to submit a development application for the new project to the City of Morgan Hill during the third quarter. …

Dornin Investment Group Sells Office Building in California’s Inland Empire for $16M

RIVERSIDE, CALIF. — Orange County, Calif.-based Dornin Investment Group has completed the disposition of an office building located in Riverside. A Chicago-based institutional buyer acquired the asset for $16 million, or $361 per square foot.CBRE’s Anthony DeLorenzo, Sammy Cemo, Gary Stache, Doug Mack and Bryan Johnson represented both the seller and the buyer in the deal.Located at 3480 Vine St. in the Inland Empire, the 44,354-square-foot office building was originally built in …

CBRE Negotiates $2.6M Sale of Inland Empire Multifamily Community in California

FONTANA, CALIF. — CBRE has arranged the sale of Juniper Apartments, a multifamily property located in Fontana. A local private investor sold the complex to another private buyer for $2.6 million.Located at 8945 Juniper Ave., the community offers 18 two-bedroom/two-bath units that average 856 square feet. Additionally, the property features gated access, 25 covered parking spaces, 16 storage units and 15 surface parking spaces. Located south of the historic Route 66, the property is within …

Dick’s Sporting Goods to Open Three Stores in Massachusetts, New Jersey This Month

PITTSBURGH — Dick’s Sporting Goods will open three new stores in the Northeast region this month. The Pittsburgh-based retailer will debut two new stores in Massachusetts, a 45,000-square-foot location at Cape Cod Mall in Hyannis and a 48,000-square-foot location at Westgate Mall in the Boston suburb of Brockton. Simon Property Group and New England Development are the respective owners of those malls. A third, 65,000-square-foot store will open at Macerich’s Deptford Mall, located just …

Kislak Negotiates $19.2M Sale of Multifamily Portfolio in Bergen County, New Jersey

RIDGEFIELD PARK, CLIFFSIDE PARK AND LEONIA, N.J. — Kislak Co. has negotiated the $19.2 million sale of an 85-unit multifamily portfolio in Bergen County, located just west of New York City. The portfolio includes The Madison, a 36-unit property in Ridgefield Park; The Manor, a 34-unit complex in Cliffside Park; and a 15-unit building in Leonia. Novel Property Ventures sold the portfolio, which was fully occupied at the time of sale, to Titanium Capital Partners. Robert Squires and Don Baxter …

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