Mixed-Use

HFF Arranges $278.4M Loan for Colony Square Redevelopment in Atlanta

by Alex Tostado November 14, 2018

ATLANTA — HFF has arranged $278.4 million in financing for the redevelopment of Colony Square, an office/retail complex in Midtown Atlanta. The loan will go to Houston-based Lionstone Investments and Cincinnati-based North American Properties for the project, which is already underway. The loan will retire the existing financing and fund future redevelopment plans. Blackstone Mortgage Trust provided the capital. The new Colony Square will feature more 1 million square feet of office and retail space. It will also feature iPic, a movie theater with nine auditoriums and farm-to-glass cocktails. Anticipated completion is late 2020.

November 14, 2018

Development Florida Mixed-Use Multifamily Southeast

Strategic Property Partners Breaks Ground on First Residential Building in $3B Water Street Tampa Project

by John Nelson November 13, 2018

TAMPA, FLA. — Strategic Property Partners, LLC (SPP) has broken ground on Water Street Tampa’s first residential building, 815 Water Street, in Tampa. In addition to 420 rental residences, the dual-tower project will feature new dining, grocery and shopping options. The two towers will rise 21 and 26 stories and each tower’s roof will include an outdoor pool, fitness center, community kitchen, bar and club lounge. 815 Water Street Tampa is expected to open in late 2020. The two-tower project is part of SPP’s $3 billion mixed-use redevelopment, which will include more than 2 million square feet of office space; 1 million square feet of retail, cultural, educational and entertainment space; two new hotels totaling more than 650 rooms, including the city’s first five-star hotel; and the University of South Florida’s Morsani College of Medicine and Heart Institute. SPP is a partnership between Tampa Bay Lightning owner Jeff Vinik and Cascade Investment LLC. The design team for 815 Water Street includes New York City-based architect Kohn Pedersen Fox Associates (KPF), Toronto-based interior designer Cecconi Simone and Miami-based landscape architect Raymond Jungles Inc. This is KPF’s fifth project in Florida, but first in Tampa.

November 13, 2018

California Loans Mixed-Use Multifamily Retail Western

Newmark Arranges $29.9M in Financing for Five55 Apartment, Retail Development in Santa Cruz

by Amy Works November 13, 2018

SANTA CRUZ, CALIF. — Newmark has arranged $29.9 million in financing for Five55 Pacific, a newly developed mixed-use property located in Santa Cruz. Swenson Builders, the borrower, completed the development earlier this year. The beachside property features 94 apartments and four ground-floor commercial spaces, which are managed by Woodmont Real Estate Services. Jeff Wilcox, Robert Slatt and Charlie Kokernak of Newmark structured the financing as a first deed of trust with Benefit Street Partners.

November 13, 2018

Alaska Loans Mixed-Use Multifamily Retail Western

KeyBank Provides $12.7M Financing for Mixed-Use Property in Anchorage, Alaska

by Amy Works November 13, 2018

ANCHORAGE, ALASKA — KeyBank Community Development Lending & Investment (CDLI) has provided Cook Inlet Housing Authority (CIHA) with $12.7 million in financing. The package includes $6.9 million in combined construction-to-permanent loan financing for the development of Elizabeth Place Apartments in downtown Anchorage, along with $5.8 million in Low Income Housing Tax Credit (LITHC) equity. The mixed-use property will feature 2,680 square feet of ground-floor commercial space, 38 units of affordable housing for those earning 50 percent to 60 percent area median income, and 12 market-rate units. Among the affordable housing units, 15 will be fully equipped for residents with sensory and mobility impairments, 10 units will be set aside for residents who are otherwise differently abled and four will be for residents experiencing homelessness. CIHA partnered with a variety of local organizations on the development, including University of Alaska, YWCA, Red Cross, Providence Alaska, Ninestar, Credit Union 1, Alaska Injury Prevention Center, Junior Achievement and Catholic Social Services. Victoria Quinn and Beth Palmer Wirtz of KeyBank’s CDLI team arranged the financing.

November 13, 2018

Loans Mixed-Use Multifamily Office Retail South Carolina Southeast

Eyzenberg & Co. Arranges $26M Bridge Loan for Mixed-Use Property in Myrtle Beach

by Amy Works November 8, 2018

MYRTLE BEACH, S.C. — Eyzenberg & Co. has secured a $26 million first mortgage bridge loan to replace a $22.6 million construction loan for THEBlvd, a mixed-use property in Myrtle Beach. Land South of MB LLC is the borrower and retained Eyzenberg & Co. last year as its financial advisor for the development of THEBlvd. David Eyzenberg, Jeff Conti and Anastasia Vladislavova of Eyzenberg & Co. arranged the loan, which was provided by Rialto Capital Management. Located at 1410 N. Ocean Blvd., the 42,000-square-foot property features live entertainment, restaurant and retail space. At the time of financing, the recently completed property was 70 percent leased to tenants, including Tin Roof, Banditos Cantina, BurgerFi and Starbucks Coffee.

November 8, 2018

Loans Mixed-Use New York Northeast

Integra Real Estate Secures $28M Bridge Loan for Mixed-Use Building in Manhattan

by David Cohen November 7, 2018

NEW YORK CITY — Integra Real Estate Capital has secured a $28 million bridge loan for a two-building, mixed-use property in the Lincoln Square section of Manhattan. Located at 15 Central Park West, the property includes a 19-story building and a 36-story building with a total of 202 residential units and 80,000 square feet of retail space. Amenities include a three-lane saltwater pool, a 14,000-square-foot fitness center, outdoor garden, game room, conference rooms and a wine cellar. Arthur and William Zeckendorf developed the property in 2008. Igor Goldenberg of Integra arranged the financing for the undisclosed borrower through a New York City-based debt-fund to refinance the existing debt on the property.

November 7, 2018

Acquisitions Mixed-Use New York Northeast

Cushman & Wakefield Arranges $16.2M Sale of Mixed-Use Property in Manhattan

by David Cohen November 5, 2018

NEW YORK CITY — Cushman & Wakefield has arranged the $16.2 million sale of Bathhouse Studios, a 14,000-square-foot mixed-use building in the East Village of Manhattan. Located at 538 E. 11th St., the property includes studio and event space as well as a residential unit above. Built in 1905, the property is a former public bathhouse and was converted into a studio in 1995 by Pulitzer Prize-winning photographer Eddie Adams. The ground floor of the building features 20-foot ceilings with oak floors, exposed brick and antique frosted windows. The residence above possesses 16-foot ceilings with oak floors throughout and a 2,200 square-foot outdoor deck. Michael DeCheser, Andrew Berry, Mei Ling Wong and Bryan Hurley of Cushman & Wakefield represented the seller, Alyssa Adams, in the transaction. The buyer was 538 East Eleventh LLC.

November 5, 2018

Development Indiana Midwest Mixed-Use

JLL to Complete Lease-Up of $1B Mixed-Use Development in Indianapolis

by Kristin Harlow November 5, 2018

INDIANAPOLIS — JLL has been selected to complete the lease-up of Waterside, the redevelopment of the former GM Stamping Plant in Indianapolis. The project is expected to take 15 years and include more than $1 billion in development. Plans call for 2.8 million square feet of office space and 100,000 square feet of retail space, as well as 1,350 residential units, 620 hotel rooms and public green space. Ambrose Property Group, the developer, purchased the 103-acre site from RACER Trust in March. The site had been vacant since GM shuttered operations in 2011. The name Waterside is a nod to the company’s vision of making the river accessible to the public, according to the Indy Star.

November 5, 2018

Development Mixed-Use Texas

RED Development Completes Phase I of 800,000 SF Mixed-Use Project in Dallas Arts District

by Taylor Williams November 2, 2018

DALLAS — Phoenix-based RED Development LLC has completed Phase I of The Union, an 800,000-square-foot mixed-use project in Dallas. Designed by HKS Inc., the development is located at the intersection of Field Street and Cedar Springs Road in the Arts District near downtown. The first phase delivered a 22-story, 420,000-square-foot office tower with 839 parking spaces. The building is more than 60 percent preleased to firms such as global investment firm HBK Capital Management and multifamily development firm StreetLights Residential, which will move in at year’s end. Phase II will deliver The Christopher, a 309-unit apartment community and a 60,000-square-foot Tom Thumb grocery store. Phase III will deliver retail space that is preleased to five food and beverage concepts. The remaining phases are expected to be complete within the next six months.

November 2, 2018

Acquisitions Mixed-Use New Jersey Northeast

Marcus & Millichap Brokers Sale of 9,400 SF Mixed-Use Building in Jersey City

by David Cohen November 2, 2018

JERSEY CITY, N.J. — Marcus & Millichap has brokered the sale of a 9,400-square-foot mixed-use property in Jersey City. The property is located at 253 Academy St. Jonathan Zamora and Julienne Pape of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was a developer.

November 2, 2018

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