Mixed-Use

MARCUS & MILLICHAP CAPITAL ARRANGES $14M REFINANCE IN NYC

by admin June 3, 2013

NEW YORK CITY — Marcus & Millichap Capital Corp. has arranged $14 million in refinancing for a 58-unit mixed-use property in New York City. The five-year, fixed-rate loan carries a 2.6 percent interest rate with a 30-year amortization schedule. Christopher Marks of Marcus & Millichap’s Manhattan office arranged the loan. “Our client was eager to take advantage of the low interest rate environment,” says Marks. “They intend to use the proceeds of this loan for construction on another income-producing property.”

June 3, 2013

CONSTRUCTION COMMENCES AT THE ARGO AT TOWN LAKE IN TEMPE

by admin June 3, 2013

TEMPE, ARIZ. – Construction has begun on The Argo at Town Lake, a mixed-use development in Tempe. The $39.5-million project will feature 328 residential units and ground-floor space that will include a retail component, bike shop, business center, coffee shop, leasing office and parking garage. It is scheduled for completion in the first quarter of 2015. The project is being developed by Lennar, built by Summit dck and designed by Todd & Associates Architects.

June 3, 2013

Mixed-Use Western

MIXED-USE DEVELOPMENT IN MONTECITO RECEIVES $7.3M LOAN

by admin May 30, 2013

MONTECITO, CALIF. – A mixed-use development in Montecito that will contain two condo units atop 10,323 square feet of office and retail space has received a $7.3-million loan. The project will be located at 1255 Coast Village Road. Some of the retail space has already been pre-leased to a high end women’s clothing boutique and a restaurant owned by the Hillstone Restaurant Group. Financing was secured by Jeffrey Hudson of George Elkins Mortgage Banking Company on behalf of Black Valnar Properties, LLC.

May 30, 2013

Midwest Mixed-Use

$15M REDEVELOPMENT UNDERWAY IN SPRINGFIELD, MO.

by admin May 30, 2013

SPRINGFIELD, MO. — Dalmark Development Group has plans to invest $15 million into the downtown Springfield Heer's building to convert the former department store into a mixed-use property. Jim Nichols, co-owner of Heer's Luxury Living and CEO of Dalmark Development Group, says while many of the details have yet to be ironed out, renovation plans include adding up to 90 market-rate rental apartments and 8,000 to 12,000 square feet of ground-floor retail space. Heer's Luxury Living LLC purchased the building from real estate investment group E and J HIDC LLC for an undisclosed amount. E and J HIDC LLC bought the building at an April 22 foreclosure auction for $960,000. Shawnee, Kan.-based Straub Construction Co. Inc. is serving as general contractor. The design team from St. Louis-based Rosemann and Associates will be led by Drury University graduate Jarret Cooper. Zac Nichols, a graduate of Missouri State University, is Dalmark's project manager. Construction is anticipated to take 12 to 14 months with an opening within the next 24 months.

May 30, 2013

Mixed-Use Western

MIXED-USE DEVELOPMENT IN MONTECITO RECEIVES $7.3M LOAN

by admin May 30, 2013

May 30, 2013

Mixed-Use Texas

WHEELOCK STREET BREAKS GROUND ON CANYON FALLS

by admin May 29, 2013

DENTON COUNTY, TEXAS — Wheelock Street Capital has broken ground on Canyon Falls, a 1,200-acre master-planned community located between U.S. Highway 377 and Interstate 35 West in Denton County. The community will be served by the Argyle and Northwest Independent School districts. City and county officials, along with Wheelock, celebrated the groundbreaking, which included the announcing of the first group of home builders: Ashton Woods Homes, K. Hovnanian Homes, Highland Homes, Plantation Homes and Toll Brothers. Manna Land is the local development partner for Canyon Falls. The construction of initial roads and home sites will be complete late this year, and home sales are expected to begin in early 2014.

May 29, 2013

Mixed-Use Northeast

TWO CHELSEA MIXED-USE PROPERTIES SELL FOR $15.9M

by admin May 24, 2013

NEW YORK CITY — A privately held multifamily development company, 205 Eighth Ave. LLC, has paid $15.9 million to acquire two mixed-use properties in Manhattan’s Chelsea neighborhood from Francmen 205 LLC. The properties are located at 205 and 207 Eighth Ave. The buildings include a combined total of 21,800 square feet and 23 apartments. Deborah Gutoff and Paul Nigido of Eastern Consolidated represented the seller, while Gabriel Saffioti, also of Eastern Consolidated, procured the buyer in the transaction.

May 24, 2013

Mixed-Use Western

SATURN BUILDING IN SEATTLE RECEIVES $12.9M PORTFOLIO LOAN

by admin May 23, 2013

SEATTLE – The Saturn Building, a mixed-use project in Seattle that will contain incubator office spaces for new and fledgling small businesses, has received a $12.9-million portfolio loan. The property is located at 3417 Evanston Ave. North in the city’s Fremont district. This represented the third in a series of loans that HomeStreet Bank Commercial Real Estate has provided to Seattle developers that are delivering smaller, more affordable office space for entrepreneurs and business owners. The loan was facilitated by Carmen Esteban. The project is being developed by Brian Regan.

May 23, 2013

Midwest Mixed-Use

MARCUS & MILLICHAP ARRANGES SALE OF MIXED-USE BUILDING

by admin May 23, 2013

CHICAGO — Marcus & Millichap has arranged the sale of a 5,325-square-foot mixed-use property in Chicago for $1.2 million. Kyle Stengle of Marcus & Millichap represented the seller and the buyer, both limited liability companies, in the transaction. The asset is located at 2058 W. Roscoe St. in Chicago’s Roscoe Village neighborhood. The mixed-use building includes five apartments and one retail space.

May 23, 2013

Mixed-Use Western

SATURN BUILDING IN SEATTLE RECEIVES $12.9M PORTFOLIO LOAN

by admin May 23, 2013

May 23, 2013

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