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Merit Commercial Real Estate Breaks Ground on $500M Alsatian Oaks Master-Planned Community Near San Antonio

CASTROVILLE, TEXAS — Merit Commercial Real Estate has broken ground on Alsatian Oaks, a 435-acre, master-planned community in Castroville, a town adjacent to San Antonio. The project represents an investment of more than $500 million.When complete, Alsatian Oaks will include 950 single-family homes, an amenity center, parks, bike trails and more than 400,000 square feet of restaurants, retail and medical office space. The first phase of development will consist of 233 homes as well as …

CGI+ Real Estate Strategies to Construct Mixed-Use Development on Los Angeles’ Miracle Mile

LOS ANGELES — CGI+ Real Estate Strategies has received full entitlements to develop a hotel, multifamily and retail mixed-use project at the intersection of Wilshire Boulevard and La Brea Avenue in Los Angeles’ Miracle Mile district.Located at 639 S. La Brea Ave., the eight-story, transit-oriented property will feature a 125-key hotel, 121 residential rental units and 13,000 square feet of street-level and rooftop restaurant space.The boutique-style hotel will offer rooms ranging in …

Howard Hughes Corp., Jerry Colangelo Buy 37,000 Acres in Phoenix for Massive Douglas Ranch Mixed-Use Project

PHOENIX — The Howard Hughes Corp. (NYSE: HHC) and local business magnate Jerry Colangelo are partnering to develop Douglas Ranch, a large-scale, master-planned community in Phoenix. HHC and Colangelo have purchased 37,000 acres for the project in Phoenix’s West Valley region for $600 million.Upon full buildout, Douglas Ranch will comprise 100,000 homes for 300,000 residents, as well as 55 million square feet of commercial development. The partnership plans to launch residential lot …

Penn-Florida Receives $335M Financing for Via Mizner Mixed-Used Development in Boca Raton, Florida

BOCA RATON, FLA. — Penn-Florida Cos. has received two loans totaling $335 million to finance the development of Via Mizner, a mixed-use development in downtown Boca Raton that will feature a hotel, apartments, golf course and retail space.Blackstone Mortgage Trust Inc. provided a $195 million senior loan for Via Mizner’s multifamily component, 101 Via Mizner Luxury Apartments. Romspen Investment Corp., a Canadian-based lender, provided a $140 million senior construction loan for the …

JLL Secures Construction Financing for $2B High Street Project in Atlanta’s Central Perimeter

ATLANTA — JLL Capital Markets has arranged a construction loan for the development of Phase I of High Street, a $2 billion, 36-acre mixed-use development along Perimeter Center Parkway in Atlanta’s Central Perimeter submarket. Ed Coco and Matt Casey of JLL arranged the loan through Bank OZK on behalf of the developer, owner and operator of the project, GID Development Group. The loan amount was not disclosed.High Street will feature approximately 150,000 square feet of retail and …

Knighthead Funding Provides $33M Construction Loan for Mixed-Use Residential Project in Nashville

NASHVILLE, TENN. — Knighthead Funding LLC has provided a $33 million construction loan for the development of Pie Town, a mixed-use residential property in Nashville. The financing is the fourth loan that Knighthead has provided to the sponsor, Nashville-based CA South Development. Peter Illuzzi of Knighthead originated the loan.Located at 629 7th Ave. S near downtown Nashville, Pie Town will be a five-floor project. The property will include 78 condominium units located over ground-floor …

Joint Venture Breaks Ground on $263M River North Mixed-Use Project in Nashville

NASHVILLE, TENN. — MRP Realty and Creek Lane Capital have broken ground on Phase I of River North, a 1.3 million-square-foot, master-planned, mixed-use project located along the Cumberland River in Nashville. The development cost for Phase I is $263 million. JLL brokered a $160 million construction loan for Phase I.Phase I will feature 817,070 square feet of development, including 651 apartment units, 78,000 square feet of office space and approximately 80,000 square feet of retail space …

Main Street Community Capital Unveils $1.3B Mixed-Use Destination Plans in Metro Cincinnati

MIDDLETOWN, OHIO — Main Street Community Capital has unveiled plans for Hollywoodland, a 50-acre mixed-use development along the Great Miami River in Middletown. The city, which boasted a population of about 50,000 residents as of the 2020 census, is located 25 miles southwest of Dayton and 30 miles northeast of Cincinnati. Development costs for the project are estimated at $1.3 billion.The Middletown City Council met for over six hours this week to discuss the project with the public. …

Klotz, KABR Plan $200M Redevelopment of Morocco Shrine Center in Jacksonville

JACKSONVILLE, FLA. — Klotz Group of Cos. and KABR Group plan to redevelop Morocco Shrine Center, a former convention center in Jacksonville. The project, which is expected to cost more than $200 million, will be named The Village at Town Center.The 100,000-square-foot main temple building will be redeveloped to include 1,025 units that will be a mix of market-rate apartments, student housing and hotel rooms. Additionally, the property will include the new development of shops, restaurants …

DraftKings to Anchor $400M UnCommons Mixed-Use Project in Las Vegas

LAS VEGAS — DraftKings Inc., a fantasy and digital sports betting company based in Boston, plans to open its second largest office hub within UnCommons, a $400 million mixed-use development underway in southwest Las Vegas. DraftKings will occupy 90,000 square feet and ultimately house more than 1,000 employees at the new offices.Matter Real Estate Group, a San Diego-based developer, broke ground on the 40-acre project last summer and plans to deliver the first phase of the campus in …

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