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Mixed-Use

GeorgiaLoansMixed-UseMultifamilySoutheast

CBRE Arranges Refinancing Loan for 370-Unit Luxury Multifamily Complex in Midtown Atlanta

by John Nelson

ATLANTA — CBRE has arranged a fixed-rate loan for the refinancing of Sora at Spring Quarter, a newly built, 370-unit luxury multifamily complex in Midtown Atlanta. Mike Ryan, Blake Cohen and Taylor Crowder of CBRE arranged the financing on behalf of the borrowers, Portman Residential and National Real Estate Advisors. Apollo provided the five-year loan, the amount of which was not disclosed. The NGBS Silver-certified property was completed in January 2024 and is part of Portman’s Spring Quarter mixed-use campus, which includes the recently completed Ten Twenty Spring office tower and the historic H.M. Patterson Home and Gardens funeral home. Located at 1000 Spring St., the 29-story multifamily tower features various floor plans ranging from 659 to 1,680 square feet, including studios, one-, two- and three-bedroom units, two-story townhomes and two- and three-bedroom penthouse units. According to Apartments.com, monthly rental rates begin at $2,195.  Unit amenities comprise condo-style finishes with plank flooring, 10- to-12-foot ceilings, quartz countertops, gas range cooktops, stainless steel appliances and porcelain tile bathrooms. Residents have access to a 10th-floor pool and terrace, 24-hour gym with fitness studios, infrared sauna, rock-climbing wall, sports simulator, gaming lounge, 29th-floor rooftop lounge and observation deck and nearly 13,000 square feet …

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Centro City in Miami
DevelopmentFloridaLoansMixed-UseMultifamilyProperty TypeRetailSoutheastTop Stories

Terra Receives $291M Financing Package for Centro City Mixed-Use Development in Miami

by Channing Hamilton

MIAMI — Locally based development firm Terra has received a total of $291 million in permanent financing for the recently completed first phase of Centro City, a 38-acre mixed-use development located just west of Miami’s Little Havana neighborhood. Phase I comprises 350,000 square feet of retail space, as well as three eight-story multifamily buildings that house 470 market-rate apartment units. JVP Management issued a $187 million loan for the development’s multifamily component, while Hudson Bay Capital issued a $104 million loan for the retail component. The funds will be used to pay off the project’s existing construction financing, which was provided by Apollo Global Management and Mack Real Estate Credit Strategies in 2022. A Walker & Dunlop team led by Keith Kurland and Gangemi Law Group represented Terra in the loan transactions. Joe Dewey, Brett Holland, Shawn Amuial, Shaina Kamen and Brian Piper of Holland & Knight provided legal counsel for Hudson Bay Capital. Leasing is underway for the residential component, with the first move-ins slated to begin this March. Apartments come in studio, one- and two-bedroom floor plans ranging between 500 and 1,250 square feet in size. Rents begin at approximately $2,500 per month. Residents will have access to …

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DevelopmentFloridaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Three New Tenants Sign Leases at Nora District in West Palm Beach

by John Nelson

WEST PALM BEACH, FLA. — Three new tenants have signed leases at The Nora District, a mixed-use project currently underway in West Palm Beach. IGK Salon, Indaco and ZenHippo will occupy 2,347; 2,945; and 1,369 square feet at the property, respectively. The first phase of Nora District — which is being developed by a partnership between NDT Development, Place Projects and Wheelock Street Capital — is scheduled for completion early this year. Upon completion, Phase I will feature 150,000 square feet of retail, office and hospitality space. Committed retail tenants at The Nora District include Del Mar Mediterranean Restaurant, Sana Skin Studio, Mint, The Spot Barbershop, Loco Taqueria & Oyster Bar, H&H Bagels, Van Leeuwen Ice Cream, The Garret Group, Juliana’s Pizza, Sunday Motor Co., Celis Juice Bar and Café and [solidcore].

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DevelopmentHospitalityLouisianaMixed-UseRestaurantRetailSoutheast

Cordish to Open $270M Live! Casino & Hotel in Louisiana in February

by John Nelson

BOSSIER CITY, LA. — The Cordish Companies has set the opening date for its $270 million Live! Casino & Hotel Louisiana — Thursday, Feb. 13, pending approval from the Louisiana Gaming Control Board. The Baltimore-based company launched bookings at the Bossier City hotel last Friday, almost exactly a full year after breaking ground. Additionally, tickets are now on sale for a slate of shows/concerts at the development’s Event Center at Live! Situated along the Red River near Shreveport, La., the Live! Casino & Hotel Louisiana will feature more than 47,000 square feet of gaming space; a sportsbook for live betting on sporting events; an upscale 550-room hotel with a resort-style pool and fitness center; 25,000-square-foot events center; structured and surface parking; a 31-site RV park; and 30,000 square feet of dining and entertainment venues, including Cordish brands Sports & Social, PBR Cowboy Bar and Luk Fu, as well as Ridotto Grand Café and The Prime Rib steakhouse.

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DevelopmentMixed-UseTexas

Aretè Collective, Wasatch Receive $106M in Bond Financing for Central Texas Master-Planned Development

by Taylor Williams

SPICEWOOD, TEXAS — A partnership between two Utah-based firms, Areté Collective and Wasatch Group, has received $106 million in bond financing for Thomas Ranch, a master-planned development in the Central Texas community of Spicewood. The development team will use proceeds from the nonrecourse, tax-exempt bond to fund infrastructural work for the 2,200-acre development. Specific public improvements will include a spine road connecting different neighborhoods, a water treatment plant and a wastewater treatment plant. A portion of the proceeds will also be used to finance the first phase of residential development. At full build-out, Thomas Ranch will comprise 3,500 residential units, including a 600-unit multifamily component, 465,000 square feet of commercial space, a hotel, golf course, 40 miles of walking trails and 1,200 acres of open nature space.

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AcquisitionsFloridaHospitalityMixed-UseOfficeSoutheast

Cushman & Wakefield Arranges Sale of 200 North College Mixed-Use Campus in Uptown Charlotte

by John Nelson

CHARLOTTE, N.C. — Cushman & Wakefield has arranged the sale of 200 North College, a five-story mixed-use campus located on a 3.5-acre site in Uptown Charlotte. According to The Charlotte Ledger, the property sold for $32.7 million. Rob Cochran and Bill Harrison of Cushman & Wakefield’s Charlotte office, along with Steve Lindley in the firm’s Phoenix office, represented the seller, an entity doing business as Terra Funding – Wake Forest LLC, through the court-appointed receiver, locally based Childress Klein. An investor doing business as A H Real Estate Holdings was the buyer. The 455,000-square-foot property features a five-story office building anchored by Wake Forest University’s business school. The development also includes an 810-space parking deck and a DoubleTree by Hilton hotel with 294 rooms. The buyer plans to redevelop a portion of 200 North College to include multifamily units and ground-level retail space.

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DevelopmentLoansMixed-UseRetailSoutheastTennessee

Nuveen Green Capital Provides $11.8M C-PACE Loan for Mixed-Use Renovation in Downtown Chattanooga

by John Nelson

CHATTANOOGA, TENN. — Nuveen Green Capital has provided an $11.8 million C-PACE loan for the gut renovation of Tivoli Theatre, a historic theater in downtown Chattanooga. The 30-year C-PACE loan is being used as part of a $73.4 million construction financing package with Reinvestment Fund Inc. The financing is being used along with New Market Tax Credits and Historic Tax Credits to fund renovations and new developments, including building exteriors, roofing, windows, HVAC, lighting, plumbing, new elevators and a pit lift. Tivoli Theatre, along with an adjacent office building, will be reimagined as the new Tivoli Performing Arts Center and a new 250-seat cinema and performance art hall. The construction timeline was not released.

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DevelopmentFloridaLoansMixed-UseMultifamilySoutheastTop Stories

Terra Obtains $170M Construction Loan for First Phase of $1B Upland Park Mixed-Use Project in South Florida

by John Nelson

SWEETWATER, FLA. — Terra, a Miami-based developer, has obtained a $170 million construction loan to fund the development of Upland Park, a planned $1 billion mixed-use development in the west Miami suburb of Sweetwater. Terra is transforming Miami-Dade County’s Dolphin Park-and-Ride/Transit Terminal Facility into a multimodal hub that will feature a transit station, residences, retail space and commercial uses on a 47-acre site near Dolphin Mall. The local developer is teaming up with Miami-Dade County on Upland Park in a public-private partnership. SCALE Lending, Slate Property Group’s debt financing arm, was the lead lender on the construction loan. Terra will use the loan proceeds to fund Phase I of Upland Park, which will comprise 578 apartments. The first phase is slated to break ground in early 2025. Designed by PPK Architects, in collaboration with master plan architect Arquitectonica and urban planner Plusurbia Design, Upland Park will include more than 2,000 new mid-rise and garden-style apartments, about 282,000 square feet of shops and restaurants and approximately 414,000 square feet of commercial space. Upland Park is designed to increase public transit ridership while anchoring the new East-West Corridor of Miami-Dade County’s SMART public transportation plan. Potential transit riders will have direct access …

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DevelopmentMixed-UseRestaurantRetailSoutheastTennessee

Shipley Do-Nuts, Sweet Paris to Open Flagship Restaurants at Nashville Yards

by John Nelson

NASHVILLE, TENN. — Southwest Value Partners, AEG and Virentes Hospitality have announced that Shipley Do-Nuts and Sweet Paris Crêperie & Café will be opening new flagship locations at Nashville Yards in 2025. Nick Gross and Brian Ashby of CBRE represented Virentes Hospitality, which will operate both Shipley and Sweet Paris. Set to open in May, Shipley will be located within the mixed-use development’s creative office building fronting Church Street, which is anchored by CAA. The 11-story tower will feature three levels of retail, dining and entertainment leased to tenants including Iconix Fitness, EVO Entertainment, Fogo de Chão and Ocean Prime. In June, Sweet Paris will open along Signal Street on the first level of The Pinnacle, which is Nashville Yards’ indoor live music and events venue that will open in February with a Kacey Musgraves concert. Nashville Yards will be the first location in Tennessee for Sweet Paris and the brand’s 20th overall.

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Leasing ActivityMixed-UseNorth CarolinaRestaurantRetailSoutheast

Salty Donut to Join Fenton Mixed-Use Development in Cary, North Carolina

by John Nelson

CARY, N.C. — Hines and Columbia Development Group, in partnership with Affinius Capital, are announcing a nearly 19,000-square-foot wave of retail leases at Fenton, including The Salty Donut, which plans to open its newest location in 2025. Located in the Raleigh suburb of Cary, the 92-acre mixed-use development is located along Cary Towne Boulevard near I-40 and the Research Triangle Park. Other retailers and restaurants that have opened recently at Fenton, or will in 2025, include Brewery Bhavana, Kendra Scott, Vega Vitality, Crawford Brothers Steakhouse and Doc B’s. Full construction of the property will feature 2.5 million square feet of residential, retail, office and entertainment spaces, as well as a seven-story hotel announced earlier this year. The Salty Donut was founded as a pop-up in Miami in 2015 and has since grown to multiple locations in Florida and Texas, as well as restaurants in Charlotte, Denver, Nashville and metropolitan Washington, D.C.

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