REBusinessOnline

Berkadia Arranges $76M Construction Loan for Mixed-Use Complex in Miami’s Wynwood District

MIAMI — Berkadia has secured a $76 million bridge loan for the construction of Gateway at Wynwood, an approximately 230,000-square-foot office and retail complex at 2916 N. Miami Ave. in Miami’s Wynwood district. Charles Foschini of Berkadia arranged the financing through Miami-based 3650 REIT on behalf of the borrower and developer, New York-based Rose & Berg Realty Group LLC. Designed by architect Kobi Karp, Gateway at Wynwood will be situated near Miami’s central business district …

Metropolitan Capital Advisors Secures Two Loans for RedBird Mall in Southwest Dallas

DALLAS — Metropolitan Capital Advisors (MCA) has arranged two loans to finance RedBird Development Group’s redevelopment of RedBird Mall, an enclosed regional mall in southwest Dallas formerly known as Southwest Center Mall. MCA arranged a $7.1 million acquisition loan through Dallas-based Graham Mortgage for the mall’s former Sears department store. The University of Texas Southwestern Medical Center (UT Southwestern) has agreed to lease the entire 150,000-square-foot wing of the mall. …

Penzance Purchases 169-Unit Mixed-Use Building in Metro D.C.

HERNDON, VA. — Washington D.C.-based Penzance Management LLC has purchased The Mark, a 169-unit mixed-use apartment community in Herndon, a Washington, D.C., suburb in Northern Virginia. Jeff Kim and Allen Manesh of Ideal Realty Group (IRG) represented Penzance in the off-market transaction. Located at 2323 Dulles Station Blvd., The Mark is situated in the Dulles Technology Corridor and within walking distance of the future Innovation Center Metro Station. The Mark features more than 15,000 …

JLL Brokers $150M Sale of Brooklyn Waterfront Development Site

NEW YORK CITY — JLL has brokered the $150 million sale of River Street Assemblage, a 3.2-acre waterfront development site in the North Williamsburg neighborhood of Brooklyn, to Two Trees Management Co. LLC. Located at One River Street, the property includes 285,020 square feet of buildable space and is zoned M3-1 for a variety of retail, office, manufacturing and mixed-use projects. The site also includes a portion of water, piers and platforms along the East River and River Street. Brendan …

Third & Urban, FCP Acquire 15.2-Acre Site Along Atlanta BeltLine for Adaptive Reuse Project

ATLANTA — Atlanta-based Third & Urban LLC and Chevy Chase, Md.-based FCP have acquired 15.2 acres along the Atlanta BeltLine. The joint venture partnership will develop a 275,000-square-foot mixed-use project at 950 W. Marietta St. The seller and price of the property were not disclosed. Designed by Perkins and Will, the development will focus primarily on converting an existing warehouse on the site into adaptive reuse space featuring both offices and retail. The project is directly …

Sunchase Holdings Sells 30-Acre Opportunity Zone Redevelopment Site in Scottsdale

SCOTTSDALE, ARIZ. — Sunchase Holdings has completed the disposition of Scottsdale Entrada, a 30-acre former auto mall at the northeast corner of 64th Street and McDowell Road in Scottsdale. Los Angeles-based Banyan Residential acquired the site for an undisclosed price through a qualified Opportunity Zone fund. Banyan Residential plans to redevelop the site into a speculative mixed-use development, which is slated to break ground in April 2020 and deliver mid-2021. Scottsdale Entrada will …

Ryan Cos. to Develop 60-Story Mixed-Use Tower in Downtown Austin

AUSTIN, TEXAS — Minneapolis-based Ryan Cos. will develop a 60-story mixed-use tower at 311 and 321 W. 6th St. in downtown Austin. Designed by Page, the building will rise 770 feet and span 530,371 square feet. Levels 12 through 17 will comprise 120,000 square feet of Class A office space. Levels 20 through 60 will consist of 363 multifamily units, 75 percent of which will be studio and one-bedroom residences. The remainder will be two- and three-bedroom units. The other floors will be …

Finard Properties Acquires 308,863 SF Greendale Mall in Worcester, Massachusetts

WORCESTER, MASS. — Finard Properties has acquired Greendale Mall, a 308,863-square-foot shopping mall in Worcester, located approximately 45 miles west of Boston. The mall was completed in 1987 and currently houses tenants such as TJ Maxx, Greendale Furniture and Reliant Healthcare. Located at 7 Neponset St., the mall offers immediate proximity to downtown Worcester and close access to metropolitan communities. Finard Properties plans to redevelop Greendale Mall as a mixed-use development. …

Cityview Sells Equity Share of The Pearl on Wilshire in Los Angeles

LOS ANGELES — Cityview has completed the sale of its equity share of The Pearl of Wilshire, a mixed-use development in the Koreatown neighborhood of Los Angeles. Cityview developed the community on land originally entitled by Hankey Investment Co., and sold its interest to Hankey for a total asset value of $170.9 million. Located at 687 S. Hobart Blvd., the 346-unit property features 17 floor plans in a mix of studio, one- and two-bedroom units above 8,300 square feet of retail space. All …

Loews Hotel, New Convention Center to Anchor $810M Development in Arlington, Texas

ARLINGTON, TEXAS — The Arlington City Council has approved an $810 million expansion of the city’s Entertainment District. The project is a continuation of the public-private partnership between the city, the Texas Rangers baseball team, Loews Hotels & Co. and The Cordish Cos. At the forefront of the expansion is a $550 million, 888-room Loews hotel with 1,500 parking spaces. The hotel will be connected to the new Arlington Convention Center, which will offer 216,000 square feet of …

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