REBusinessOnline

Cronheim Mortgage Arranges $11.5M Refinancing for Mixed-Use Property in Norwalk

NORWALK, CONN. — Cronheim Mortgage has arranged an $11.5 million refinancing for SoNo Square, a 94,472-square-foot mixed-use property in Norwalk. Cronheim secured the financing on behalf of borrower SoNo Square Associates, an affiliate of Westport-based David Adam Realty. The lender was undisclosed. Terms of the financing include three years of interest-only payments and a 30-year amortization schedule. The tenant roster at SoNo Square includes Lilian August Design warehouse, West Marine and …

Endeavor to Develop 29-Story Mixed-Use Tower in Austin

AUSTIN, TEXAS — Endeavor Real Estate Group will develop 93 Red River, a 29-story mixed-use tower that will be located in the Rainey Street District near downtown Austin. According to austin.towers.net, the property will feature 18 floors of residential units, three floors of office space, seven levels of parking and 12,817 square feet of restaurant space. Austin-based Endeavor expects to complete the project by the third quarter of

TIG to Develop 16-Acre Mixed-Use Project in Metro Austin

GEORGETOWN, TEXAS — Frisco-based TIG Real Estate Services will develop Westinghouse Road Corporate Center, a mixed-use project that will span 16 acres in the northern Austin metro of Georgetown. The property will be located adjacent to a 432-unit townhome community and upon completion will feature office, retail, flex and medical office space. The project is expected to break ground before year’s end and to carry a construction period of six to seven

Continuum Partners Receives $110M Refinancing for Mixed-Use Project in Downtown Denver

DENVER — Denver-based Continuum Partners has received $110 million in financing for A Block, a mixed-use development located in downtown Denver. The 310,055-square-foot project features the 200-key Kimpton Hotel Born, located at 1600 Wewatta St., and a 54,976-square-foot Class A office building with ground-level retail space and a 197-space parking garage, located at 1881 16th St. Completed in 2017, A Block has two separate components: the 12-story Hotel Born and the five-story office …

DIX Sells 53-Acre Mixed-Use Development Site in Ormond Beach, Florida

ORMOND BEACH, FLA. — Lake Mary, Fla.-based DIX Developments has completed the sale of Halifax Town Center, a mixed-use development site located in Ormond Beach. Dixie 95 OBD, a company related to O2G Capital of Ontario, Canada, purchased the 53-acre site for an undisclosed price. Situated in the southeast quadrant of Interstate 95 and Old Dixie Highway, the fully developed site is ready for immediate construction with storm water retention, surfaced roadways and utilities. Halifax Town …

Cushman & Wakefield Brokers $7.2M Sale of Mixed-Use Property in Miami’s Coconut Grove

MIAMI — Cushman & Wakefield has arranged the sale of a mixed-use building located at 3138 Commodore Plaza in Miami’s Coconut Grove neighborhood. A partnership between Terra and Banyan Street Capital purchased the property for $7.2 million, or $232 per square foot. Hollywood, Fla.-based MG|3 Development sold the property. Developed in 1986, the 31,000-square-foot, multi-tenant property features ground-floor retail space and three floors of offices, as well as on-site structured parking. …

HFF Arranges $50M in Financing for Mixed-Use Development in Denver

DENVER — HFF has arranged $50 million in financing for 210 St. Paul, the first phase of The St. Paul Collection, a mixed-use residential and retail property in Denver’s Cherry Creek North neighborhood. The borrower is BMC Investments. Brock Yaffe of HFF secured the 11-year, non-recourse, full-term, interest-only, fixed-rate loan through Freddie Mac’s Lease-Up Loan Program. The loan will replace existing construction financing and will be serviced by HFF, a Freddie Mac Multifamily …

Developer to Build 297-Acre Mixed-Use Project in Princeton, Texas

PRINCETON, TEXAS — Developer International Capital LLC will build Princeton Crossroads, a 297-acre mixed-use project that will be located in Princeton, a city northeast of Dallas in Collin County. Preliminary plans for the project include 166 townhomes and a grocery-anchored retail center. Princeton Crossroads is also fully entitled for 624 multifamily units. The groundbreaking is set for Thursday, Oct. 25. Dallas-based Range Realty Advisors is marketing the

DealPoint Merrill Acquires Former Sears Store Near Cleveland, Plans $70M Redevelopment

RICHMOND HEIGHTS, OHIO — DealPoint Merrill has acquired the former Sears store at Richmond Town Square Mall in Richmond Heights, about 13 miles northeast of Cleveland. The 248,000-square-foot Sears store has been vacant since March 2017. DealPoint Merrill plans to redevelop the store into a $70 million project featuring a 375-unit luxury apartment property, a 98-key hotel and 8,000 square feet of restaurant space. Joseph Khouri of CBRE brokered the sale of the Sears store. Sears was the …

Joint Venture Breaks Ground on $200M Mixed-Use Project in South Florida

BOCA RATON, FLA. — A trio of developers — Giles Capital Group, Rosemurgy Properties, Schmier Property Group — in partnership with Wheelock Street Capital have broken ground on Uptown Boca, a $200 million mixed-use project in South Florida. The development, which will be located at the corner of Glades Road and 95th Avenue South in Boca Raton, will feature 150,591 square feet of retail space. Lucky’s Market and Silverspot Cinema will anchor the project. In addition, Uptown Boca will …

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