Property Type

Ryan Cos. Breaks Ground on 413-Unit Luxury Apartment Complex in Overland Park, Kansas

by Kristin Harlow October 13, 2023

OVERLAND PARK, KAN. — Ryan Cos. has broken ground on The OsLo, a 413-unit luxury apartment complex in the Kansas City suburb of Overland Park. The four-story project will be situated at the intersection of 135th Street and Antioch Road. Completion is slated for late 2025. The OsLo is being built in partnership with operating partner EPC Real Estate Group. Smart technology will be fully integrated for residents, enabling them to use a smartphone app for accessing the building and individual units, controlling thermostats and receiving package delivery notifications. A focus on health and wellness will be incorporated into the property to align with the Scandinavian-themed architecture. There will be a spa, yoga studio, golf simulator and sound studio. Additionally, residents will have access to coworking areas, group gathering places, a pool, pond and dog park. Ryan is serving as the developer, builder and capital markets provider. NSPJ Architects is the architect, Olsson is the civil engineer, Lankford & Associates is the mechanical, electrical and plumbing engineer and Bob D. Campbell is the structural engineer. Security Bank provided construction financing.

October 13, 2023

Affordable Housing Development Midwest Multifamily Nebraska

The Annex Group to Develop $52.7M Affordable Housing Community in Lincoln, Nebraska

by Kristin Harlow October 13, 2023

LINCOLN, NEB. — The Annex Group is developing Union at Antelope Valley, a $52.7 million affordable housing community in Lincoln. The five-story project will feature 187 one-, two- and three-bedroom units that will be reserved for households whose income levels are at or below 60 percent of the area median income. Completion is slated for summer 2025. The community will be situated on 1.7 acres at 1810 K. St. within the eastern portion of downtown Lincoln. Amenities will include a community center, fitness center, dog park, courtyard, private garage and onsite management. Like all of Annex’s affordable housing communities, Union at Antelope Valley will offer a customized Community Impact Plan that will help connect residents with community resources. Partners on the project include BVH Architecture, REGA Engineering Group and Summit LIHTC Consulting. US Bancorp Impact Finance provided more than $21 million in federal Low-Income Housing Tax Credit equity financing, while Cedar Rapids Bank & Trust provided more than $25 million in debt financing. Annex’s construction arm, Annex Construction of Nebraska LLC, is the general contractor.

October 13, 2023

Industrial Loans Michigan Midwest

Bernard Financial Group Arranges $30M Loan for Refinancing of Industrial Property in Livonia, Michigan

by Kristin Harlow October 13, 2023

LIVONIA, MICH. — Bernard Financial Group (BFG) has arranged a $30 million loan for the refinancing of a 364,000-square-foot industrial property in Livonia, a northwest suburb of Detroit. Dennis Bernard and Joshua Bernard of BFG arranged the loan with Securian Life Insurance Co. The borrower was an entity doing business as Livonia West Commerce Center 2 LLC.

October 13, 2023

Acquisitions Indiana Industrial Midwest

MDH Partners Acquires 247,000 SF Warehouse in Noblesville, Indiana

by Kristin Harlow October 13, 2023

NOBLESVILLE, IND. — MDH Partners has acquired Washington Business Park 2, a 247,000-square-foot warehouse completed this year in the Indianapolis suburb of Noblesville. Patch Development was the seller. MDH previously purchased Washington Business Park 1 in October 2022. Both buildings are located within the 142-acre Washington Business Park. Houston Hawley represented MDH on an internal basis. Bryan Poynter and Ryan Baker of Cushman & Wakefield brokered the sale. MDH’s footprint in Indiana now totals more than 1.4 million square feet.

October 13, 2023

Acquisitions Illinois Midwest Multifamily

Kiser Group Negotiates $10.9M Sale of Apartment Building in Chicago’s Andersonville Neighborhood

by Kristin Harlow October 13, 2023

CHICAGO — Kiser Group has negotiated the $10.9 million sale of an apartment building in Chicago’s Andersonville neighborhood. Located at 1553-55 W. Hollywood Ave., the property spans a full city block and features 76 apartment units along with 22 retail spaces. Jacob Price and Katie LeGrand of Kiser brokered the transaction. Buyer and seller information was not provided. The new ownership plans to preserve the property’s vintage character while enhancing units and amenities.

October 13, 2023

Leasing Activity New Jersey Northeast Retail

Federal Realty Rebrands 551,000 SF Mercer Mall in Metro Philadelphia, Signs New Tenants

by Taylor Williams October 13, 2023

LAWRENCEVILLE, N.J. — Federal Realty Investment Trust has rebranded Mercer Mall in Lawrenceville, roughly 40 miles northeast of Philadelphia. Moving forward, the property, which totals 551,000 square feet, will be known as Mercer on One. Federal Realty has also signed leases with two new tenants at the property. J. Crew Factory will occupy 6,100 square feet, and Crate & Barrel has opened a 42,000-square-foot store. Additionally, DSW is currently undergoing a full remodel and façade upgrade. Ashton Design led the rebranding effort.

October 13, 2023

Acquisitions Hospitality Northeast Pennsylvania

DoveHill Capital Management Buys 329-Room, Dual-Branded Hotel in Philadelphia

by Taylor Williams October 13, 2023

PHILADELPHIA — Florida-based investment firm DoveHill Capital Management has acquired a 329-room, dual-branded hotel in Philadelphia’s Wynnefield Heights neighborhood. The Hilton hotel was built in 2000 and was fully renovated in 2016, while the Homewood Suites hotel was built in 2005 and fully renovated in 2022. The hotels share 26,000 square feet of amenity space, as well as 1,300 parking spaces, and have jointly benefited from over $10 million in capital investment since 2015. DoveHill’s subsidiary, The Wurzak Hotel Group, will manage the property.

October 13, 2023

Development Multifamily New York Northeast

Slate Property Group Tops Out 162-Unit Multifamily Project in Brooklyn

by Taylor Williams October 13, 2023

NEW YORK CITY — Locally based developer Slate Property Group has topped out a 162-unit multifamily project at 159 Boerum St. in Brooklyn’s East Williamsburg area. Designed by Aufgang Architects, the building will include 49 affordable apartments as well a parking garage, fitness center and a rooftop deck. Slate is developing the property in partnership with Avenue Realty Capital and SD Builders & Construction. Delivery is scheduled for summer 2025.

October 13, 2023

California Industrial Loans Western

JLL Arranges $32.9M Loan for Single-Tenant Industrial Building in San Dimas, California

by Amy Works October 13, 2023

SAN DIMAS, CALIF. — JLL Capital Markets has secured $32.9 million in financing for 300 East Arrow Highway, a single-tenant property in San Dimas, approximately 25 miles east of Los Angeles. Greg Brown, Peter Thompson, Kyle White and Allie Black of JLL Capital Markets’ debt advisory team arranged the nonrecourse loan for the borrower, CapRock Partners. Western Pacific Storage Solutions, a leader in the engineering and manufacturing of industrial storage solutions, shelving systems and material handling, occupies the 165,070-square-foot facility. The company has occupied the space for its manufacturing operations since 2001. Built in 1972 and expanded in 1989, 300 East Arrow Highway features 15 dock-high doors and one ground-level door, a 130-foot secured truck court and multiple points of ingress/egress. Additionally, the property offers ample parking, 4000A/480V power and 21,000 square feet of two-story office space.

October 13, 2023

Acquisitions California Industrial Western

DAUM Commercial Negotiates Sale of 43,540 SF Warehouse Facility in Compton, California

by Amy Works October 13, 2023

COMPTON, CALIF. — DAUM Commercial Real Estate Services has arranged the sale of an industrial warehouse asset located at 1303 W. Walnut Parkway in Compton, just south of Los Angeles. A private investor acquired the property from an undisclosed seller for $16 million. Anthony Bergeman of DAUM Commercial represented the buyer, while Jeff Smart and Elizabeth Capati of Colliers represented the seller in the transaction. Situated on 1.8 acres, the 43,540-square-foot facility features two drive-in loading areas, six dock-high doors with ample turning radius for 53-foot truck loading, 93 parking spaces and a fenced yard. The new ownership plans to remove the excess mezzanine office space and implement extensive renovations to reduce and modernize the onsite office footprint.

October 13, 2023

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