REBusinessOnline

Knighthead Funding Provides $59.5M Construction Loan for Austin Mixed-Use Project

AUSTIN, TEXAS — Knighthead Funding has provided a $59.5 million construction loan for a mixed-use project that will be located about three miles from downtown Austin. The project will comprise 200 multifamily units, 22,318 square feet of office space and 4,884 square feet of retail space. The residential component will consist of 170 market-rate units and 30 affordable housing units. The borrower was a partnership between Austin-based Pearlstone Partners and New York City-based ATCO …

Partnership Completes Initial Phases of Village at Park River Mixed-Use Project in Hartford

HARTFORD, CONN. — A partnership between Pennrose, The Cloud Co. LLC, JDA Development and The Housing Authority of the City of Hartford has completed Phases I and II of Village at Park River, a mixed-use project in Hartford. The project is a redevelopment of a former Westbrook Village public housing site. Upon full completion, the development will consist of more than 400 units of mixed-income housing, 100,000 square feet of combined office and retail space, bike paths, a park, gardens and a …

Partnership Breaks Ground on $1.8B Arena for Los Angeles Clippers in Inglewood, California

INGLEWOOD, CALIF. — A public-private partnership between Murphy’s Bowl LLC and the City of Inglewood has broken ground on Intuit Dome, a 915,000-square-foot basketball and events arena in Inglewood that will serve as the home of the Los Angeles Clippers. Murphy's Bowl is a development entity backed by the Los Angeles Clippers. San Francisco-based developer and investor Wilson Meany is also part of the project, which is expected to cost $1.8 billion, according to the Los Angeles …

ECO Group Signs 18 New Tenants to Join $180M MOSAIC Development in Metro Raleigh

PITTSBORO, N.C. — Developer ECO Group has signed leases for 18 new tenants at MOSAIC at Chatham Park, a 44-acre, $180 million entertainment and lifestyle destination underway at Highway 501 and Russet Run Road in Pittsboro, about 34 miles from Raleigh.With the addition of the new tenants, 96 percent of MOSAIC’s retail space completed or under construction is now leased. New restaurant tenants joining the project include Hops and Berry, a 5,000-square-foot self-serve tap house and …

Joint Venture Receives $250M in Financing for 1.2 MSF Dayton’s Redevelopment Project in Downtown Minneapolis

MINNEAPOLIS — The Telos Group and 601W Cos. have received $250 million in financing for The Dayton’s Project, a historic redevelopment of 700 Nicollet Mall in downtown Minneapolis. The 12-story property was previously occupied by Dayton’s department store, which rebranded as Macy’s in 2004 before closing its doors in 2017.The 1.2 million-square-foot project will include office space, 200,000 square feet of dining and retail, and a 45,000-square-foot food hall and market. Office …

White Point Unveils Plans for 125,000 SF Horseshoe at Hub RTP Mixed-Use Project in Durham

DURHAM, N.C. — White Point Partners has unveiled plans for a 125,000-square-foot mixed-use development in Durham called Horseshoe at Hub RTP. The name of the development emphasizes the layout of the project, with the buildings’ focus on the central plaza. Sitework at Hub RTP is expected to be completed in the second quarter of 2022, while the $50 million Horseshoe mixed-use project is expected to be complete in the third quarter of 2023.Horseshoe will be at the center of Hub RTP, a …

JBG Smith Breaks Ground on $1B Virginia Tech Innovation Campus in Alexandria, Virginia

ALEXANDRIA, VA. — JBG Smith (NYSE: JBGS), a Maryland-based developer and REIT, has broken ground on the first building within the $1 billion Virginia Tech Innovation Campus at the university’s satellite campus in the Washington, D.C. area. The development is located about 275 miles from Virginia Tech’s main campus in Blacksburg.The 300,000-square-foot building will be situated on a 3.5-acre site within the Potomac Yard development. Construction of the first building is scheduled to be …

Oxford Properties Group Acquires Industrial Park in Metro LA for $133.5M

SANTA CLARITA, CALIF. — Oxford Properties Group, a real estate investment and management firm based in Toronto, has purchased Santa Clarita Innovation Park, a 14-building campus situated on 118.5 acres in the Los Angeles suburb of Santa Clarita.Funds managed by Oaktree Capital Management and Intertex Cos. sold the property, which was formerly known as Mann Biomedical Park, for $133.5 million.The acquisition of Santa Clarita Innovation Park falls in line with Oxford’s investment …

CBRE Facilitates $32.7M Sale of Tranquil Court Mixed-Use Property in Midtown Charlotte

CHARLOTTE, N.C. — CBRE has facilitated the sale of Tranquil Court, a 62,983-square-foot mixed-use property located in Charlotte’s Midtown submarket. Childress Klein Properties and Gottesman Real Estate Partners acquired the property from Asana Partners for $32.7 million. The acquisition is the second joint venture between Childress Klein and Gottesman Real Estate Partners.Located at 2820 Selwyn Ave., Tranquil Court is situated about 4.4 miles from downtown Charlotte and is fully leased …

Fidelis Begins Construction on 69.7-Acre Mixed-Use Project in Willis, Texas

WILLIS, TEXAS — Texas-based investment and development firm Fidelis has begun construction on The Market at Willis, a 69.7-acre mixed-use project in Willis, located about 50 miles north of Houston. Construction of Phase I will consist of a 200,000-square-foot shopping center that will be anchored by regional grocer H-E-B. Construction of Phase II, which is scheduled to begin in the third quarter of next year, will add more retail and restaurant space and a 250-unit multifamily community. …

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