REBusinessOnline

Duke Health Opens $102.4M Behavioral Healthcare Facility in Durham

DURHAM, N.C. — Duke Health has opened a newly built center at Duke Regional Hospital in Durham that services behavioral therapy patients. The new center plans to combine the behavioral health services that had been offered separately at Duke University and Duke Regional hospitals. The facility, known as Duke Behavioral Health Center North Durham, cost $102.4 million to build.The Duke Behavioral Health Center North Durham project also includes an expansion of the hospital’s emergency …

Balfour Beatty, Related Group Break Ground on Two-Tower Residential Project in West Palm Beach

WEST PALM BEACH, FLA. — Balfour Beatty has broken ground on Icon Marina Village, a two-tower, 24-story residential development in West Palm Beach. Related Group is the developer of the project, which will be located close to the Intracoastal Waterway, Atlantic Ocean, Palm Beach Island and downtown West Palm Beach. Balfour Beatty and Related Group plan to deliver Icon Marina Village in 2023. Designed by Miami-based Arquitectonica, Icon Marina Village will feature two high-rise towers that …

Alliance Residential Delivers Broadstone Summerhill Apartments in South Atlanta

ATLANTA — Scottsdale, Ariz.-based Alliance Residential Co. has delivered Broadstone Summerhill, a new multifamily development located in the heart of Atlanta’s Summerhill neighborhood on the city’s south side. This property is Alliance Residential’s latest development in the Atlanta area, with three additional developments under construction and three properties recently opening. Broadstone Summerhill comprises of three residential buildings with 276 studio, one- and two-bedroom …

Publix to Occupy 42,514 SF at Interlock Mixed-Use Project by S.J. Collins in Atlanta’s West Midtown

ATLANTA — Publix will occupy a 42,514-square-foot store for the second phase of The Interlock, a mixed-use development underway at the intersection of Ethel Street and Northside Drive in Atlanta’s West Midtown district. Demolition for the site will begin in May, and vertical construction will start in the fall of 2022. S.J. Collins Enterprises is the landlord.Phase I of The Interlock is a nine-acre, mixed-use property located at 1115 Howell Mill Road N.W. The development includes …

Ready Capital Closes $53.6M Acquisition Financing for Multifamily Property in Atlanta

ATLANTA — Ready Capital has closed a $53.6 million loan for the acquisition, renovation and stabilization of a 294-unit, Class B multifamily property in Atlanta. Upon acquisition, the sponsor will implement a capital improvement plan to upgrade the property and mark rents to market. The borrower and property name were not disclosed.The non-recourse, interest-only, floating-rate loan features a 36-month term, two extension options, flexible prepayment and is inclusive of a facility to …

Brue Baukol Capital Breaks Ground on 36-Acre Mixed-Use Community in Centennial, Colorado

CENTENNIAL, COLO. — Colorado-based Brue Baukol Capital Partners has broken ground on The District, a 36-acre mixed-use community adjacent to the Dry Creek rail station in Centennial.The walkable community will feature more than 2.5 million square feet of office space, a 200-key hotel, 1,800 residential units and over 30,000 square feet of retail space. Previously named the Jones District before rebranding to The District, the development will offer space for a range of flexible office …

AHV Communities Expands into Seattle Market with Duvall Village Apartment Development

DUVALL, WASH. — AHV Communities is developing Duvall Village, its first multifamily community in the Seattle market. Located in the northeastern suburb of Duvall, the property will include 99 three-story townhomes designed in cottage and farmhouse styles.Milbrant Architects designed the community, which offers two-, three- and four-bedroom layouts with 2.5 to 3.5 baths, two-car garages and private fenced yards. Units will feature quartz countertops, stainless steel energy-efficient …

Davenport Partners Buys Office Building in Corona, California for $6.9M

CORONA, CALIF. — Davenport Partners has purchased 1101 California Avenue, a two-story office property located at the corner of California and Rimpau avenues in Corona. An undisclosed seller sold the asset for $6.9 million.Built in 1990, the 40,000-square-foot property was 91 percent leased at the time of

Avison Young Brokers $6M Sale of Single-Tenant Retail Property in West Linn, Oregon

WEST LINN, ORE. — Avison Young has arranged the sale of a single-tenant retail building located at 1855 Blankenship Road in West Linn. A Portland.-based private investor acquired the property for $6 million from a court-appointed receiver.Parkrose Hardware occupies the 47,451-square-foot property, which is the anchor tenant to River Falls Plaza, on a 10-year, long-term lease.Chris Maling and David Maling of Avison Young, along with Denis O’Neill of Colliers International, …

Ready Capital Closes $3.8M in Bridge-to-Freddie Mac Financing for Multifamily Property in Tucson

TUCSON, ARIZ. — Ready Capital has closed $3.8 million in bridge-to-Freddie Mac agency financing for the acquisition, renovation and stabilization of a 56-unit apartment property located in Tucson’s Acaso submarket.Upon acquisition, the undisclosed sponsor will implement a capital improvement plan to upgrade the asset’s interior and exterior.The non-recourse, floating-rate loan features a 24-month term, two extension options and flexible prepayment. It is inclusive of a facility to …

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