Mixed-Use

UHealth Signs 11,243 SF Retail Lease at Downtown Doral in Metro Miami

by John Nelson January 24, 2025

DORAL, FLA. — Codina Partners has announced that the University of Miami health system (UHealth) will occupy an 11,243-square-foot wing at Downtown Doral, a 250-acre mixed-use community in metro Miami. The tenant is part of the property’s 25,000-square-foot retail expansion, which is located at the intersection of N.W. 87th Avenue and N.W. 53rd Terrace and will include 929 parking garage spaces. UHealth’s new facility, which will feature Bascom Palmer Eye Institute and physical therapy services, will join other tenants at the property including Sweat 440, South Miami OB/GYN Associates, Sage Dental, Muse Beauty Salon, Crema Gourmet Espresso Bar and Pura Vida. Codina plans to break ground on the retail expansion in first-quarter 2025 and wrap up construction in first-quarter 2026.

January 24, 2025

Development Loans Mixed-Use Multifamily New York Northeast Office Retail Top Stories

NuVerse Advisors Receives $99M Construction Loan for Office-to-Residential Conversion Project in New York City

by Channing Hamilton January 24, 2025

NEW YORK CITY — NuVerse Advisors LLC has received a $99 million construction loan to convert The Emmet Building, a 17-story office building at 95 Madison Ave. in New York City, for residential use. The vacant property was originally constructed between 1911 and 1912 as a loft office building with grade-level retail space. The building will be converted into 65 residential condominiums across 108,000 square feet, along with 17,000 square feet of retail space and 3,400 square feet of office space. Internal demolition is currently in progress. However, an expected delivery date was not disclosed. The conversion is sponsored by NuVerse Advisors’ S3 Multi Strategy Global Fund, with Sunlight Development as a strategic partner and general contractor. BHI — the U.S. branch of Tel Aviv, Israel-based Bank Hapoalim BM — is the senior lender in the financing. Under the terms of the loan, BHI will provide $40 million of debt. The company has worked with several financial partners to arrange the remainder of the financing. “BHI was a trusted partner in financing the acquisition of this property this past summer and we’re thrilled to work together again now as we redevelop this property for residential use,” said Dov Schlein, managing …

January 24, 2025

Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

Five New Tenants Join Atlantic Station Roster in Midtown Atlanta

by John Nelson January 22, 2025

ATLANTA — Five new retailers and restaurants have joined the tenant roster at Atlantic Station, a 138-acre mixed-use development in Midtown Atlanta. Houston-based Hines, which has owned the retail portion of the property since 2015, recently signed donut and desserts eatery Yonutz; cookie concept Munster Cravings; candle-making experiential retailer Candleporium Fragrance House; and car wash and detailing shop Dirty Horse Paint Protection and Auto Detailing to the lineup. Additionally, Lucky Strike Entertainment has backfilled and rebranded Atlantic Station’s Bowlero bowling alley. Opened in 2005, Atlantic Station features 523,511 square feet of retail, entertainment and restaurant space; 2 million square feet of Class A office space, including offices for Microsoft; two full-service hotels; multiple apartments, lofts and luxury condo residences; and freestanding IKEA, Target and Dillard’s stores.

January 22, 2025

Acquisitions California Mixed-Use Western

DJM Sells Stake in Bella Terra Mixed-Use Development in Huntington Beach, California

by Amy Works January 22, 2025

HUNTINGTON BEACH, CALIF. — DJM Capital Partners has sold its ownership stake of Bella Terra, a 1 million-square-foot mixed-use development in Huntington Beach. DJM has managed and co-owned the property since 2005. The property is now fully owned by PGIM Real Estate, DJM’s long-term partner in Bella Terra. Terms of the deal were not disclosed.

January 22, 2025

Loans Mixed-Use North Carolina Southeast

JLL Facilitates $191M Loan for Fenton Mixed-Use Development in Cary, North Carolina

by John Nelson January 21, 2025

CARY, N.C. — JLL Capital Markets has facilitated a $191 million loan for Fenton, a mixed-use development located in Cary, roughly 12 miles west of downtown Raleigh. The property includes 246,000 square feet of retail space, 183,000 square feet of office space and an apartment community — The Allison at Fenton — comprising 367 multifamily units. Chip Sykes and Kelsey Bawcombe of JLL secured the loan on behalf of the borrower, a partnership between Hines, Affinius Capital and Columbia Development. New York Life Real Estate Investors provided the mortgage financing.

January 21, 2025

Development Leasing Activity Mixed-Use North Carolina Restaurant Retail Southeast

Crosland, Core Sound Sign 11 Tenants to Wallbrook Mixed-Use Project Near Raleigh

by John Nelson January 21, 2025

ROLESVILLE, N.C. — Crosland Southeast and Core Sound Development has signed 11 new tenants to Wallbrook, an 80-acre mixed-use development located in Rolesville, roughly 17 miles northwest of Raleigh. Publix will anchor the property, which is scheduled to open its initial phase in mid-2025. The developers have preleased 21,000 square feet to tenants including restaurants, a dental practice, hair salon, massage parlor and Pilates gym. Additionally, Fifth Third Bank has signed a ground lease at an outparcel. Approximately 9,000 square feet of space is still available for lease at the property. Crosland is planning for a second phase with preleasing beginning this spring. Charlie Coyne and Matt Larson of CBRE are leading leasing efforts at Wallbrook, which will have 265,000 square feet of commercial space when fully built-out.

January 21, 2025

Acquisitions Colorado Hospitality Mixed-Use Multifamily Restaurant Retail Western

DPC Cos., Ogilvie Partners Acquire 220,000 SF Englewood CityCenter in Colorado

by Amy Works January 21, 2025

ENGLEWOOD, COLO. — A joint venture between DPC Cos. and Ogilvie Partners has acquired Englewood CityCenter for an undisclosed price. Brad Lyons of CBRE handled the transaction. Englewood CityCenter offers 220,000 square feet of office, retail and multifamily space. The joint venture is working with the City of Englewood on a master redevelopment plan to transform Englewood CityCenter into a community center with multifamily housing, open space for community gathering and a walkable live/work/shop area with retail, services, restaurants and a hotel within the 12-acre site. At the time of sale, the property was 40 percent leased. Current tenants include Harbor Freight, Ross Dress for Less, Petco, Tokyo Joe’s, Jersey Mike’s Subs and Einstein Bros.

January 21, 2025

Development Loans Mixed-Use Restaurant Retail Western

SimonCRE Receives Financing, Invests $50M for Mixed-Use Project in Surprise, Arizona

by Amy Works January 20, 2025

SURPRISE, ARIZ. — SimonCRE has closed on the purchase of the first phase of Asante Trails, a 12.4-acre retail project in Surprise, approximately 35 miles outside Phoenix. SimonCRE has announced a $50 million investment for the acquisition of Asante Trails. According to the Phoenix Business Journal, the seller was a partnership between SimonCRE and Jim Stockwell J. of Clyde Capital LLC, which acquired the land in 2023. The project will be part of a larger 90-acre mixed-use project that will anchor the Asante master-planned community. Phase I of Asante Trails will feature retail tenants including Farmer Boys, Jimmy John’s, Baskin-Robbins, Circle K and Clean Freak Car Wash. Roughly 19,000 square feet is available for lease.

January 20, 2025

Acquisitions Development Hawaii Hospitality Mixed-Use Multifamily Restaurant Retail Western

New Age Ko Olina Buys Two Oceanfront Development Lots in Kapolei, Hawaii

by Amy Works January 16, 2025

KAPOLEI, HAWAII — Los Angeles-based New Age Ko Olina has acquired two oceanfront lots near the Ko Olina master-planned development in Honolulu from Oceanwide Resort HI LLC for an undisclosed price. CBRE’s Matt Bittick and Henry Bose represented the seller, while Powell & Aucello represented the buyer in the deal. The first lot, adjacent to Aulani Resort, is entitled for up to 1.5 million square feet of developable area and up to 1,400 units. The seller had proposed a 1,383-key Atlantis Resort & Residence Ko Olina (subject to design review), which would feature 37,500 square feet of retail space, 1,200-seating restaurant options, an aquarium and pools, and open to two of Ko Olina’s beach lagoons. The second lot is entitled for up to 990,000 square feet of developable area with no more than 850 units and opens to two beach lagoons and the Pacific Ocean. The approvals for the lot provide for a hotel, branded residential and timeshare. Ko Olina is an oceanfront master-planned development on the west coast of Oahu. Situated on more than 642 acres, the property offers four beach lagoons connected by more than a mile-and-a-half of seaside paths, the Ko Olina Golf Club and Ko Olina Marina, …

January 16, 2025

Development Loans Midwest Mixed-Use Multifamily Ohio

BGL Real Estate Advisors Arranges Development Financing for Two Multifamily Projects Near Cleveland

by Kristin Harlow January 16, 2025

BRECKSVILLE AND VERMILION, OHIO — Browns Gibbons Lang & Co. (BGL) Real Estate Advisors has arranged development financing for Valor Acres in Brecksville, a southern suburb of Cleveland, and The Bluffs at WaterWood Resort in Vermilion, about 42 miles west of Cleveland. The borrower was DiGeronimo Cos. Fifth Third Bank & First Commonwealth Bank provided the financing for Valor Acres, a mixed-use development incorporating 44,000 square feet of Class A office space, 221 luxury apartment units, 70,000 square feet of retail and entertainment space, an onsite safety station and 700-space parking garage. The project is being developed on the former site of the U.S. Department of Veterans Affairs Brecksville hospital. Valor Acres is also home to the new Sherwin-Williams Research and Development Center and the DiGeronimo corporate headquarters. DiGeronimo closed on Phase I of the project, which included a multifamily building as well as for-rent townhomes, in December 2021. The developer closed on the for-sale townhomes, attached loft homes, memorial park and clubhouse in June 2023. BGL also served as the financial advisor for those transactions. In addition to senior construction debt from Fifth Third Bank, the project received transformational mixed-use development tax credits, Cleveland-Cuyahoga County Port Authority incentives and …

January 16, 2025

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