WASHINGTON, D.C. — Hines and the TFI US Real Estate Fund, developers of the 10-acre CityCenterDC mixed-use development, have re-opened 10th and I streets in Washington, D.C., which is the first time the thoroughfares have been accessible to the public in more than 30 years. The developers also welcomed the first residents to their homes at The Apartments at CityCenter and The Residences at CityCenter. Additionally, the development’s new parking garage for residents and visitors, which features an automated parking guidance system and 700 parking spaces, is now open. In 2014, new stores and restaurants are expected to open at CityCenterDC, in addition to the new office buildings that are expected to wrap up construction. Office tenants will include Covington & Burling, the American Hospital Association, Qatari Foundation International and Hines’ Washington, D.C., office.
TINLEY PARK, ILL. — MACK Cos. has purchased two shopping centers and an office building in Tinley Park, located about 30 miles south of Chicago. Gateway Plaza, located at 6800 Oak Park Ave., is a 7,500-square-foot shopping center with a mix of retail, office and commercial space. Interior renovations have begun, with plans for exterior renovations slated for the spring of 2014. Located 10 blocks north of Gateway Plaza at 6787 159th St., High Pointe Plaza is an 11,953-square-foot shopping center. Betscher Cleaners and Indy Mac Holdings LLC currently occupy 5,361 square feet at High Pointe. Centennial is an 8,000-square-foot facility that will become office space for approximately 40 MACK employees from the firm’s executive management, operations, accounting and sales and marketing divisions. Move-in is scheduled for early 2014. MACK will provide property management services for all three buildings.
FRANKLIN, TENN. — Spectrum | Emery has topped off the first office tower in Franklin Park, a mixed-use corporate complex in the Cool Springs area of Franklin. The building, known as One Franklin Park, is a 10-story, 272,720-square-foot, Class A office tower that is expected to open in September 2014. Franklin Park is a 72-acre development that will feature five Class A office towers, a 350-unit multifamily community and more than 12 acres of greenspace. The $10 million greenspace will feature an outdoor amphitheater, waterways, ponds, walking paths and open fields. One Franklin Park will feature a covered parking garage with covered walkways leading to the entrance of the building. The project team for One Franklin Park includes general contractor Bell and Associates, based in Brentwood, Tenn., and architect Duda Paine, based in Durham, N.C.
NEW YORK CITY — Houlihan-Parnes Realtors LLC has arranged a $20 million loan for the refinancing of 1775 Grand Concourse, a 300,000-square-foot mixed-use building in the Bronx. The mortgage covers a commercial condominium interest in the building that shares ownership with Verizon Wireless, which owns two floors. The remaining six floors have been converted to an indoor parking garage and retail and office space. Current tenants include Con Edison, Special Citizens Futures Unlimited, Inovalon SME Inc., Safe Horizon, The Bronx Lebanon Hospital Center, Public Health Solutions and Abbott House. Sam Jemal of JJ Operating Inc. and members of his family together with members of Houlihan-Parnes Realtors LLC, own the property. The property was acquired in February 2012 from Verizon. Kelly Houlihan Buckley and James Houlihan of Houlihan-Parnes Realtors arranged the financing.
NEW YORK CITY — Meridian Capital Group LLC has arranged a $2.1 million loan for the refinancing of two mixed-use properties located on Greene and Myrtle avenues in Brooklyn. The seven-year loan features a fixed interest rate of 4 percent and a 77 percent loan-to-value ratio. A local savings bank provided the loan. Blake Carver, an associate at Meridian arranged the financing. The three-story properties, located at 132 Greene Ave. and 468 Myrtle Ave. in the Clinton Hill neighborhood, total four residential units and 2,000 square feet of retail space. Tenants include Aita, a casual farm-to-table restaurant, and Barking Brown, a clothing and accessories boutique.
SEBASTOPOL, CALIF. — The Barlow, a 212,000-square–foot, mixed-use industrial and retail lifestyle center in Sebastopol, has received two loans totaling $28.8 million. The center is located at 6770 McKinley Street. It is anchored by Kosta Browne Winery. The Barlow features two full-scale production wineries, four wine tasting rooms, two breweries, a gin and vodka distillery, a coffee roaster, two restaurants, a grocery store, a tea company, a full-scale production bakery and various other artisan producers. The project’s remaining space may be utilized by a boutique hotel with a spa. Financing was arranged by Ethan Schelin of Lucent Capital.
SEBASTOPOL, CALIF. — The Barlow, a 212,000-square–foot, mixed-use industrial and retail lifestyle center in Sebastopol, has received two loans totaling $28.8 million. The center is located at 6770 McKinley Street. It is anchored by Kosta Browne Winery. The Barlow features two full-scale production wineries, four wine tasting rooms, two breweries, a gin and vodka distillery, a coffee roaster, two restaurants, a grocery store, a tea company, a full-scale production bakery and various other artisan producers. The project’s remaining space may be utilized by a boutique hotel with a spa. Financing was arranged by Ethan Schelin of Lucent Capital.
INDIANAPOLIS — EMK Property Investors has sold Annaberry Park, a mixed-use property located south of 86th Street on Harcourt Road in Indianapolis. Omaha-based Metonic Real Estate Services purchased the property, which includes 244 residential units and 12 commercial units. The purchase price was undisclosed. EMK Property Investors purchased the apartment community in late 2010 from a lender. At the time, the property was known as Presidential Estates. The company spent more than $1.3 million to upgrade the property, including the installation of new windows, replacement of a portion of the roofs, new exterior paint, renovation of the clubhouse and the majority of the units. Omaha-based Seldin Co. will serve as the new manager of the property.
NEW YORK CITY — Meridian Capital Group LLC has arranged a $3.3 million loan on behalf of Phido Co. for the refinancing of a mixed-use property located on York Avenue in New York City. The 10-year loan features a fixed interest rate of 3.95 percent and was provided by a local savings bank. Judah Hammer, vice president in Meridian Capital’s New York City headquarters, negotiated the transaction. The four-story, mixed-use property is located at 1634 York Ave. and includes 14 residential units and two retail spaces totaling 3,600 square feet, one of which houses the Mansion Restaurant.
INDIANAPOLIS — Residents have begun to move into the Artistry, a $30 million mixed-use development undertaken by Milhaus Ventures in downtown Indianapolis. Located at 451 E. Market St., the first phase of the five-story property includes 258 residential units and 68,000 square feet of office space. Artistry features studio, one-, two- and three-bedroom apartments and amenities such as an art gallery and a rooftop pool with views of downtown. The property also includes two courtyards featuring an outdoor kitchen, vegetable garden, bocce ball court, putting green and sitting areas. Milhaus also plans to build a movie theater, café, wellness studio and aqua lounge. Construction on Phase I is slated for a spring 2014 completion, followed by construction of Phase II, which includes 242 units.