Mixed-Use

Alterra Worldwide Purchases Jefferson Arms Building in St. Louis, Plans $104M Renovation

by Kristin Harlow July 13, 2017

ST. LOUIS — Alterra Worldwide has purchased the historic Jefferson Arms building located at 401-415 N. Tucker Blvd. in downtown St. Louis. The company has also unveiled a $104 million renovation plan, which includes 240 apartments, a 220-room AC Marriott-branded hotel and commercial space with restaurants, retail and offices. Built in 1904 in anticipation of the first World’s Fair, the 520,000-square-foot Jefferson Arms development is a short walk from the Cardinals’ Busch Stadium, America’s Center Convention Complex, Keiner Plaza and the historic, newly renovated Arch Grounds. Amenities at the apartments will include a fitness and yoga studio, art room, music room, cinema room, karaoke room, community room, tanning salon and business center. Numerous floor plans will accommodate a variety of needs. The 18,603 square feet of commercial space located on the first floor will feature retail and restaurant space. The three restaurants include a motorcycle-inspired cafe called Motopia Café, a French and Belgian bistro called Mademoiselle Colette Brasserie, as well as George & Eddie’s Diner, serving classic comfort foods such as burgers, milkshakes and homemade pies. Additionally, the existing ballroom will be converted into a creative office space. Aimbridge Hospitality will operate the hotel and Merriman Anderson Architects will serve as …

July 13, 2017

Florida Mixed-Use Southeast

The Traina Cos. Receive Approval for 1.3 MSF Mixed-Use Development in Downtown Fort Lauderdale

by Camren Skelton July 13, 2017

FORT LAUDERDALE, FLA. — The Traina Cos. has received final zoning approval from the Fort Lauderdale City Commissioners for FATcity (Florida Arts and Technology), a 1.3 million-square-foot mixed-use development located at 300 N. Andrews Ave. in downtown Fort Lauderdale. Situated in the City Center (RAC-CC) Special Zoning District, FATcity will include two 30-story towers featuring 270,000 square feet of office and retail space with the potential for hospitality space, 612 residential units and 1,327 covered parking spaces. The development will connect the city’s Central Business District and Arts Districts through pedestrian-oriented streets, access to Brightline’s high-speed rail station and a Wave Streetcar stop on-site. FATcity marks the first new Class A office space developed in Fort Lauderdale in over a decade. Groundbreaking on the project is estimated for late 2018 or early 2019.

July 13, 2017

Mixed-Use North Carolina Southeast

Crescent Communities Unveils Plans for Mixed-Use Development in Charlotte

by Camren Skelton July 13, 2017

CHARLOTTE, N.C. — Crescent Communities has unveiled plans for Crescent Montford Park, a mixed-use community in south Charlotte’s Montford Park neighborhood. The project will be developed at the site of the former Pfeiffer University Charlotte and will feature 337 apartments and 17,000 square feet of retail space. Atlanta-based Fortune-Johnson is the community’s general contractor, Charlotte-based LandDesign is the civil engineer and KTGY Architecture is leading the development’s design. Interiors for the community were designed by Vignette Interior Design. Adam Williams of Legacy Real Estate Advisors will manage retail leasing of the property, which is slated for completion in spring 2019.

July 13, 2017

Mixed-Use Texas

Criterion Breaks Ground on 322,000 SF Mixed-Use Project in Fort Worth

by Taylor Williams July 13, 2017

FORT WORTH, TEXAS — Criterion Property Co. LP has broken ground on The River East, a 322,000-square-foot mixed-use project situated on 2.5 acres at 2900 Race St. in Fort Worth. The project will deliver a 181-unit apartment tower, with units ranging in size from 600 to 1,331 square feet, as well as 3,000 square feet of retail and restaurant space, according to The Dallas Business Journal. A timetable for completion has not yet been established.

July 13, 2017

Loans Mixed-Use Multifamily New York Northeast Retail

Meridian Capital Secures $19M in Financing for Mixed-Use Property in Brooklyn

by Amy Works July 12, 2017

NEW YORK CITY — Meridian Capital Group has arranged $19 million in construction take-out financing for the refinance of a mixed-use property located at 1122 Chestnut Ave. in the Midwood neighborhood of Brooklyn. The seven-year loan, provided by a local balance sheet lender, features a fixed rate of 4.00 percent. Blake Orman of Meridian negotiated the financing for the undisclosed borrower. The seven-story building features 57 residential rental units and 12,600 square feet of ground-floor retail space. Building amenities include high-speed elevators, parking with optional valet service, a laundry facility and a bicycle storage room.

July 12, 2017

Mixed-Use Multifamily New York Northeast Retail Top Stories

Madison Realty Provides $270M Construction Financing for 1 MSF Mixed-Use Development in Brooklyn

by Katie Sloan July 11, 2017

NEW YORK CITY — Madison Realty Capital (MRC) has provided $270 million in construction financing for the development of a 1 million-square-foot mixed-use project at the former Rheingold Brewery site in Brooklyn’s Bushwick neighborhood. The developer, Brooklyn-based All Year Management, previously received a bridge loan for site acquisition and pre-development on the project from MRC. Construction is currently underway. The Rheingold Brewery opened in 1883, and was the eighth largest brewery in the nation in 1965, according to reports by the New York Daily News. The brewery closed in 1976, and was torn down in 1981. The site has been largely vacant since then, with the exception of 300 rental and privately owned apartments that were built on the southwest corner of the site in 2003. The two-building redevelopment is located at 123 Melrose St. and 54 Noll St., and will feature 911 residential units, 20,650 square feet of retail space and 533 parking spaces. Residential space will occupy floors one through nine in both buildings, offering studio, one-bedroom and two-bedroom units. Community amenities will include multiple fitness rooms including a boxing center, yoga studio, cycling room and exercise room; libraries; spas with saunas, steam and massage rooms; locker rooms; …

July 11, 2017

Loans Mixed-Use New York Northeast

Ceruzzi Holdings, SMI USA Receive $200M in Financing for Manhattan Mixed-Use Development

by Amy Works July 10, 2017

NEW YORK CITY — Ceruzzi Holdings and SMI USA have received $200 million in pre-development financing for 520 Fifth Avenue, a to-be-built, mixed-use property in Manhattan. Christopher Peck and David Nackoul of HFF arranged the floating-rate loan through Mack Real Estate Credit Strategies for the joint venture borrowers. Proceeds of the loan will be used to repay existing debt, conclude design and move forward with pre-development work. Situated at the corner of 43rd Street and Fifth Avenue, the development will comprise approximately 425,000 square feet, including luxury condominiums, a five-star hotel and more than 33,000 square feet of Fifth Avenue retail space.

July 10, 2017

Florida Loans Mixed-Use Southeast

Terra Secures $32M Construction Loan for Mixed-Use Development in Miami

by Camren Skelton July 10, 2017

MIAMI — Miami-based development firm Terra, in partnership with Mayfair Real Estate Advisors, has secured a $32 million construction loan from BB&T Bank for the development of Mary Street, a Class A office and retail complex in Miami’s Coconut Grove neighborhood. Designed by Touzet Studio, the project will transform a parking garage into 78,000 square feet of office space with 18,000 square feet of ground-level retail space. The building will feature 24-hour security, above ground public and office parking, electric car charging stations, bicycle stations and bicycle storage. Construction is expected to begin next month, with completion slated for late 2018.

July 10, 2017

Massachusetts Mixed-Use Multifamily Northeast Retail

HFF Secures $80M Acquisition Financing for Boston Transit-Oriented Development Site

by Amy Works July 7, 2017

BOSTON — HFF has arranged $80 million in acquisition financing for Suffolk Downs, a 161.2-acre, transit-oriented development site located in East Boston and Revere, Mass. HYM Investment Group is the borrower and buyer in the transaction. John Fowler, Anthony Cutone, Jennifer Keller and Andrew Gray of HFF secured the short-term, floating-rate loan with Bank of the Ozarks and advised the buyer in the deal. Adjacent to Route 1A, the site comprises 108.8 acres in Boston and 52.4 acres in Revere. The property is also served by two Massachusetts Bay Transit Authority Blue Line stations: Suffolk Downs and Beachmont. The site is currently the location of the Suffolk Downs horse racing facility, which will have its last racing season in summer 2018.

July 7, 2017

Florida Mixed-Use Southeast

CBRE Global Investors, Universal-Investment Purchase Mixed-Use Property in Miami Beach for $283M

by Camren Skelton July 7, 2017

MIAMI BEACH, FLA. — CBRE Global Investors and German investment company Universal-Investment have purchased 1111 Lincoln, a 146,327-square-foot mixed-use property in Miami Beach. The acquisition was made on behalf of Bayerische Versorgungskammer (BVK), one of Germany’s largest institutional investors. The sales price was not disclosed, but the South Florida Business Journal reports BVK paid $283 million for the asset. Designed by Herzog & de Meuron Architects, 1111 Lincoln includes 94,488 square feet of office space, 51,839 square feet of retail space and a 300-space parking garage and event space. The property was fully leased at the time of sale to tenants including Viacom International, public relations firm JeffreyGroup and Rosa Mexicano South Beach restaurant.

July 7, 2017

Newer Posts

Older Posts