Mixed-Use

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

Development Industrial Mixed-Use Texas

Mesquite City Council Approves Plans for 652-Acre Mixed-Use, 80-Acre Industrial Projects

by Taylor Williams November 6, 2019

MESQUITE, TEXAS — The Mesquite City Council has approved plans for the development of Spradley Farms, a 652-acre mixed-use project that will feature more than 2,500 single-family homes and commercial components. The government body also approved Urban District 30, an 80-acre industrial development. Urban Logistics Realty is developing the $71 million industrial project, which will include five buildings spanning 979,000 square feet and is expected to generate between 500 and 1,000 new jobs. A groundbreaking ceremony for the project was held on Monday, Jan. 13, 2020, and completion of the project is scheduled for the third quarter of 2020. Stream Realty Partners will handle leasing of Urban District 30. Other project partners include MYCON General Contractors and GSR Andrade Architects.

November 6, 2019

Development Mixed-Use Texas

GID Breaks Ground on Phase II of Regent Square Mixed-Use Project in Houston

by Taylor Williams November 5, 2019

HOUSTON — GID Development Group has broken ground on Phase II of Regent Square, a mixed-use project located at West Dallas and Dunlavy streets near Buffalo Bayou Park in Houston. Designed by Boston-based architecture firm CBT, Phase II will consist of 50,000 square feet of retail space, a 600-unit apartment building and activated community space. The retail space is expected to be available for occupancy by the first quarter of 2021, and the residential component is slated to be complete by the third quarter of 2021. Phase I of the project was completed in 2014. Arch-Con is the general contractor, and JLL is handling leasing of the retail space.

November 5, 2019

Development Kentucky Mixed-Use Southeast

Churchill Downs Plans $300M Expansion, Including New Hotel and More Seating

by Alex Tostado October 31, 2019

LOUISVILLE, KY. — Churchill Downs Inc. will invest $300 million to add 5,500 reserved seats, a 156-room hotel and 900 historical racing machines at Churchill Downs, home of the annual Kentucky Derby horse race in Louisville. A historical racing machine is an electronic gambling system that allows players to bet on horse races or dog races that have already been run. The seven-story hotel will include 900 historical racing machines, a 27,000-square-foot ballroom, dining room overlooking the track, 92 trackside suites, four trackside presidential suites and multiple dining options. The project is expected to create 600 construction jobs and 300 permanent jobs upon completion. Churchill Downs Inc. expects the expansion to be complete in November 2021.

October 31, 2019

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