Mixed-Use

DC Partners Breaks Ground on Six-Acre Mixed-Use Project in Houston

by Taylor Williams November 18, 2019

HOUSTON — Houston-based DC Partners has broken ground on The Allen, a six-acre mixed-use project located near Buffalo Bayou Park in Houston. The development will include a 99-unit condominium building, a Thompson-branded luxury hotel, an office building and retail and restaurant spaces. The grand opening of The Allen is slated for the first quarter of 2021, though the hotel is not scheduled to be complete until 2023. DC Partners is developing the project in partnership with Tianqing Real Estate Development and Westmont Hospitality Group.

November 18, 2019

Loans Midwest Mixed-Use Ohio

Kawa Provides $26M Loan to Help Fund $134.5M Acquisition of Mixed-Use Development in Ohio

by Kristin Harlow November 18, 2019

MIAMISBURG, OHIO — Kawa has provided a $26 million loan to help fund the $134.5 million acquisition of Austin Landing, an 834,630-square-foot mixed-use project in Montgomery County’s Miamisburg. Austin Landing, constructed in phases between 2009 and 2019, features office and retail space and is more than 95 percent occupied. Office tenants include Wells Fargo, UBS, Merrill Lynch, Raymond James and Baird. Retail tenants include Kroger, Kohl’s, a movie theater and 16 restaurants. An eight-acre community park provides event space. In addition to Kawa’s loan, the buyers utilized senior financing from Citi Bank and its own equity to fund the acquisition. Austin Landing North LLC, a partnership between Columbia Investments, Venture Capital Properties and A&H Acquisitions, purchased the property, according to the Dayton Business Journal. VisCap Development has managed the property since 2016.

November 18, 2019

Development Mixed-Use North Carolina Property Type Southeast Top Stories

Dewitt Carolinas Unveils Plans for $1B Midtown Exchange Project in Raleigh

by Alex Patton November 15, 2019

RALEIGH, N.C. — Dewitt Carolinas Inc. has unveiled the master plans for development of Midtown Exchange, a $1B mixed-use project in Raleigh that will feature residential, office, hotel, entertainment and retail components. The development will be built on a 40-acre lot just outside Interstate 440, north of downtown Raleigh, and will comprise 790,000 square feet of Class A office space, 125,000 square feet of retail and restaurant space, 300 hotel rooms, 300 senior living units and 1,275 residential units. The residential component will include apartments, condominiums and townhomes, but how the units will be divided was not disclosed. The site will also include a large convention center with rooftop dining space and more than seven acres of green space with water features. Local newspaper North State Journal reports that the office space will comprise two office towers connected by a sky bridge between the two top floors. Those two floors and the sky bridge will make up one large office space, intended to attract a major corporate headquarters tenant. “We envision Midtown Exchange to be a destination unlike any other in Raleigh,” says Todd Saieed, CEO and co-founder of Dewitt Carolinas Inc. “This will be a place where family entertainment …

November 15, 2019

Loans Mixed-Use Texas

JLL Arranges $140M Loan for Refinancing of Houston’s GreenStreet Mixed-Use Development

by Taylor Williams November 15, 2019

HOUSTON — JLL has arranged a $140 million loan for the refinancing of GreenStreet, a 617,000-square-foot mixed-use development in Houston’s Central Business District. GreenStreet spans four contiguous city blocks and features office, retail, restaurant and entertainment uses, as well as central open-air green space. Colby Mueck, Matthew Putterman and Laura Sellingsloh of JLL arranged the funds through Blackstone Real Estate Debt Strategies on behalf of the borrowers, Lionstone Investments and Midway.

November 15, 2019

Development Georgia Loans Mixed-Use Southeast

Trez Forman Capital Provides $26.7M Loan for Land Acquisition, Phase I of Exchange at Gwinnett Project in Metro Atlanta

by Alex Tostado November 13, 2019

BUFORD, GA. — Trez Forman Capital has provided a $26.7 million loan to Fuqua Development for the acquisition of 67.5 acres in Buford to develop The Exchange at Gwinnett, a planned $350 million mixed-use development in metro Atlanta. Phase I will include 56,000 square feet of retail space that will feature already-committed tenants such as Starbucks, Chipotle and City Barbecue. The property is located at 2925 Buford Drive, next to the Mall of Georgia. At the same time as the land sale, Fuqua Development sold 33 acres to three separate entities for the developments of Topgolf and Rooms-to-Go, as well as a 450-unit apartment community being developed by The Worthing Cos. Fuqua plans to sell another 13 acres for the development of an Andretti Indoor Karting & Games, a 123-room hotel and restaurants. Brett Forman and Russ Holland of Trez Forman Capital originated the loan on behalf of Atlanta-based Fuqua Development.

November 13, 2019

Development Midwest Mixed-Use Nebraska

Hines to Redevelop Portion of Conagra’s Omaha Campus into Mixed-Use Project

by Kristin Harlow November 13, 2019

OMAHA, NEB. — Hines has unveiled plans to redevelop a portion of Conagra Brands’ existing Omaha campus into a mixed-use project known as The Mercantile. When fully developed, the project will encompass more than 20 acres and offer a mix of residential, commercial and green space. The development will overlook the Heartland of America Park lake. Hines will redevelop the northwest portion of the Conagra campus. Conagra’s nearly 1,300 employees in Omaha will continue to occupy the three office buildings on the southeast portion of the site. The project’s first vertical development will be a 375-unit apartment building with 42,000 square feet of ground-floor retail space. Hines will also construct a 720-car parking structure. Construction is expected to begin before the end of the year.

November 13, 2019

Georgia Market Reports Mixed-Use Southeast Southeast Market Reports

South Downtown Atlanta is on Fire (Again) with $10B in New Developments

by Alex Tostado November 13, 2019

In 1864, General William T. Sherman burned Atlanta to the ground, including the area around the Zero Mile Post marking the terminus of the Western & Atlantic Railroad. Now, 155 years later, South Downtown is on fire again but this time, it is as one of the hottest development submarkets in the Southeast. With the still-active downtown rail yards at its center, more than $10 billion in new development is either completed, under construction or in the planning stages. This “Downtown Ring of Fire” stretches from Centennial Olympic Park and Mercedes-Benz Stadium to Castleberry Hill and over to Underground Atlanta. The project SSG Realty Partners recently brought to market, Artisan Yards, is a 9.9-acre site at the intersection of Ted Turner Drive (historic Spring Street) and Whitehall Street. It is currently the headquarters of Gourmet Foods International, which has outgrown the property and is relocating to a new facility. The primary catalyst for this significant new development momentum is the $1.6 billion Mercedes-Benz Stadium, home of the Atlanta Falcons and the 2018 MLS Cup champions Atlanta United. The $192 million renovation of State Farm Arena and the $25 million expansion of Centennial Olympic Park were also critical in creating the …

November 13, 2019

Development Loans Mixed-Use South Carolina Southeast

Trez Forman Provides $115M Construction Loan for Camperdown Square Mixed-Use Project in Downtown Greenville

by Alex Tostado November 11, 2019

GREENVILLE, S.C. — Trez Forman has provided a $115 million construction loan for Camperdown Square, a mixed-use development that is 40 percent built in downtown Greenville. The borrower, Centennial American Partners, is developing Camperdown Square, which is situated on 3 acres adjacent to the Greenville News building at the intersection of South Main and Broad streets. The developers broke ground on Phase II in January on Falls Tower office building within Camperdown Square. In May, coworking firm Spaces signed a 28,900-square-foot lease within Falls Tower. At full buildout, the project will include the 17-story Falls Tower, a 609-space parking garage, a 194-room AC Marriott hotel, 113,475 square feet of retail space and a 217-unit multifamily building. Brett Forman of Trez Forman originated the loan on behalf of the borrower.

November 11, 2019

Market Reports Michigan Midwest Midwest Market Reports Mixed-Use

Why Invest in Grand Rapids: Lifestyle, Job Market and Affordability

by Kristin Harlow November 7, 2019

While most national investors and developers focus on larger Sun Belt and coastal markets such as Austin, Atlanta, Nashville and Phoenix, Time Equities has had great success investing in Grand Rapids and continues to believe strongly in the future potential of the area. As an opportunistic company, we often go where others do not, looking for markets and assets with strong risk-adjusted returns. Grand Rapids provides such an opportunity. The small city has been ascendant for the past decade and has a bright outlook. Its population and job growth equal many of the fastest-growing markets in the Sun Belt. Its economy is bolstered by large medical and education employers supported by impressive charitable contributions from the region’s wealthy families. In addition, the city also boasts a diversified economy with manufacturing, breweries and white-collar employment. And most importantly, it’s home to a burgeoning young and educated workforce. Grand Rapids’ combination of lifestyle, job market and affordability make it a regional draw. Grand Rapids experienced population growth of 41 percent from 2010 to 2017, compared with 22 percent for the Nashville metro area and 19 percent for the Dallas metro area. This growth was aided by a net migration of 31,285 people. …

November 7, 2019

Development Mixed-Use North Carolina Southeast

Eco Group Breaks Ground on $350M Mosaic Development Near Raleigh-Durham

by Alex Tostado November 6, 2019

PITTSBORO, N.C. — Eco Group, a joint venture between Kirk Bradley of Lee-Moore Capital Co. and John Fugo of Montgomery Carolina LLC, has broken ground on Mosaic, a $350 million mixed-use development spanning 136 acres and located 30 miles southwest of Raleigh-Durham. Phase I of Mosaic will include developing 44 acres at the cost of $180 million and is expected to be complete in 2023, although Eco Group plans to open Mosaic to the public in 2020. Town Hall Burger & Beer, People’s Coffee, Aveda Day Spa & Salon and UNC Urgent Care have all signed leases at Mosaic. At full build-out, the development will feature 200,000 square feet of local and regional retail space, restaurants and services including a micro-brewery and chef-driven and fast casual dining; a 114-key flagship hotel; 164 apartment units; 88,000 square feet of technical and creative office space; 10,000 square feet of educational space; 30,000 square feet of recreational and civic amenities featuring an eight-screen cinema, 350-seat live performance theatre, and 100-seat black box theatre and central green with outdoor stage. In addition, 25 percent of the project will be dedicated to open space framing the development with gathering spaces, walking and biking trail, ponds …

November 6, 2019

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