PRINCETON, TEXAS — Nuveen Green Capital and Lone Star PACE have provided $21.9 million in C-PACE (Commercial Property Assessed Clean Energy) financing for Ironwood at Princeton, a multifamily project that will be located northeast of Dallas. Ironwood at Princeton will total 306 units across 14 buildings. The financing is expected to translate into annual electricity and water reductions of 25 and 20 percent, respectively. The borrower was not disclosed.
BOWIE, MD. — CBRE has negotiated the sale of Bowie Town Center, a 293,099-square-foot lifestyle center in Prince George County, bordering the eastern portion of Washington, D.C. A partnership between Nile Equity Group and Community Real Estate Co. purchased the property for an undisclosed price. Ryan Sciullo, Chris Munley, Colin Behr, Casey Smith and R.J. Mirabile of CBRE’s National Retail Partners Mid-Atlantic team represented the undisclosed seller in the transaction. Bowie Town Center was 86 percent leased at the time of sale to tenants including Bath & Body Works, Barnes & Noble, LA Fitness, Foot Locker, Famous Footwear, Lane Bryant, Macy’s, Pandora and Starbuck’s Coffee, among others.
TAMPA, FLA. — CP Capital has sold NOVEL Independence Park, a 277-unit apartment community situated within Independence Park, a 44-acre mixed-use project in Tampa’s Westshore Business District. The buyer and sales price were not disclosed. Completed in 2024, the apartment complex consists of three five-story buildings that offer studio to three-bedroom floorplans. Amenities include a fitness center, resort-style saltwater swimming pool, sky deck, pickleball court, coworking space and a dog park. NOVEL Independence Park was developed as a joint venture between CP Capital and Charlotte-based Crescent Communities. Additionally, CP Capital has eight properties in active lease-up in Southeast markets such as Atlanta, Charleston, Nashville, Orlando and Washington, D.C.
DURHAM, N.C. — Global law firm K&L Gates LLP has relocated its newest Durham office in Research Triangle Park to Horseshoe at Hub RTP, a 157,500-square-foot mixed-use development located at 3151 Elion Drive. In late 2026, the firm will move into a 20,000-square-foot office on the fourth floor at Horseshoe. Don Shupe of CBRE represented K&L Gates, while Patti Autry and Hillman Duncan of JLL represented the landlord, Charlotte-based White Point Partners, in the lease negotiations. Horseshoe at Hub, which serves at the central gathering point for the 100-acre Hub RTP development, features a five-story office building with two single-story retail/restaurant pavilions, along with 16 acres of greenspace and trails. Horseshoe currently has 78,000 square feet of office space and 10,000 square feet of retail space available for lease.
HOUSTON — Lee & Associates has brokered the sale of an 80,164-square-foot manufacturing building in North Houston. According to LoopNet Inc., the building at 1121 Buschong St. was built on 6.4 acres in 2001. The building includes 14,250 square feet of office space. Justin Tunnell and Richard Glass of Lee & Associates represented the seller, Schlumberger Technology Corp., in the deal. The buyer and sales price were not disclosed.
HOUSTON — Atlanta-based home improvement retailer Floor & Décor has signed a 56,208-square-foot retail lease in southwest Houston. The space at 4800 W. Belfort Road formerly housed a Randall’s grocery store. Joan Collum of Partners Real Estate represented Floor & Décor, which expects to open the store in the second quarter, in the lease negotiations. Rebecca Le of NewQuest represented the landlord.
NEW YORK CITY — Greystone has provided a $97.6 million HUD-insured loan for the refinancing of Villa Hermosa, a 272-unit affordable housing complex in East Harlem. Built in 1910, Village Hermosa offers one-, two- and three-bedroom units that are reserved for households earning 50 percent or less of the area median income. Eric Rosenstock and Jeff Englund of Greystone originated the nonrecourse loan, which carries a 35-year term and a fixed interest rate, through HUD’s 223(f) program. The borrower, Metropolitan Realty Group, will use a portion of the proceeds to fund capital improvements, including upgrades to unit interiors and building utility systems.
LONG BEACH, CALIF. — JPI has broken ground on Portico, a previously announced 272-unit multifamily project with 18,841 square feet of ground-level retail space. The $150 million development marks Phase I of a master plan for Mosaic, which is the redevelopment of the former City Place Long Beach shopping center. Completion of the eight-story building is slated for June 2028. City Place Long Beach was developed in the 1990s on about 14 acres in downtown Long Beach. The site was cleared earlier this year. Units will be offered as studios through three-bedroom floor plans with amenities that include a speakeasy, rooftop deck, golf simulator, fitness center, sauna and pool deck overlooking the Mosaic shopping center. Finance partners include Tokyo Tatemono and BMO Bank. The broader Mosaic project, led by Turnbridge Equities, Waterford Property Co. and Monument Square Investment Group, will ultimately deliver 900 multifamily residences and 38,000 square feet of commercial space.
DENVER — Evergreen Real Estate Group and Globeville Redevelopment Partners, in partnership with the Denver Public Library and the city and county of Denver, have started construction on 4965 Washington Street, a five-story mixed-use community in Denver’s Globeville neighborhood. The city and county of Denver acquired the development sites in 2019 and 2023, creating a combined total of 2.7 acres. The $132 million development will transform a city-owned parcel on the site of a former car dealership into housing for families earning between 30 percent and 80 percent of the area median income. The property will feature 170 one-, two-, three- and four-bedroom apartments, with the lower level housing the first permanent Denver Public Library branch in the Globeville neighborhood, as well as a community café owned by Tierra Colectiva. Completion is slated for fall 2027. Apartments will feature open layouts with modern finishes, including vinyl plank flooring, LED lighting, kitchen with Energy Star appliances, baths with step-in showers and low-flow plumbing fixtures and in-unit laundry. Community amenities will include a fitness center, community room and reading room, along with 50,000 square feet of outdoor gathering areas. Additionally, the project will provide 111 parking spaces, including electric vehicle charging stations. …
BREA, CALIF. — JLL Capital Markets has secured $107 million in acquisition financing with a $5 million operating reserve for a 33.9-acre redevelopment project in Brea. Matt Stewart, Kellan Liem, Serge Sarkissian, John Rankin and Kyle White of JLL represented the borrower, Dwight Manley, in arranging financing from funds managed by affiliates of Fortress Investment Group. According to JLL, Dwight Manley will transform a vacant commercial building into a mixed-use community with retail and residential components. Dwight Manley has been actively involved in downtown Brea development for nearly 25 years, playing a key role in the city’s downtown revitalization and lifestyle transformation.