NEW YORK CITY — HSBC Bank has signed a 35,400-square-foot office lease expansion at The Spiral, a 66-story tower located in Midtown Manhattan. The company initially signed a 20-year, 265,000-square-foot lease for its headquarters space in May 2022. Following the expansion, HSBC will occupy the entire 29th and 30th floors in addition to three podium floors and a recently opened wealth center at street level. Greg Conen and Sam Brodsky internally represented the landlord, Tishman Speyer, in the lease negotiations. Peter Riguardi, Matt Astrachan, Mitchell Konsker and Will McGarry of JLL represented HSBC.
RICHMOND, VA. — Capital Square has launched a new opportunity zone fund, with plans to develop a multifamily and hospitality property at 1600 Roseneath Road in Richmond. Plans for the 2.2-acre development include 220 apartment units and 100 apartment-hotel rooms. Dubbed CSRA Opportunity Zone Fund IX LLC, the fund aims to raise $77 million in equity from accredited investors to fund the project. This marks the ninth opportunity zone fund for Capital Square and its sixth development in the Scott’s Addition neighborhood of Richmond. The unnamed property will be situated within walking distance of several restaurants, breweries and attractions, including the Virginia Museum of Fine Arts, Science Museum of Virginia and Virginia Museum of History and Culture.
TAMPA, FLA. — Wingspan Development and ABC Capital Corp. have sold Jade at North Hyde Park, a 192-unit apartment community located at 608 N. Willow Road in Tampa’s North Hyde Park neighborhood. San Francisco-based Hamilton Zanze acquired the property, which is located approximately a half-mile from downtown near the University of Tampa, for an undisclosed price. The acquisition represents Hamilton Zanze’s entry into the Florida market. Matt Mitchell of Berkadia brokered the transaction. Built in 2022, Jade at North Hyde Park was 97 percent occupied at the time of sale. The property features studios, one-, two-, three- and four-bedroom units ranging in size from 463 to 1,421 square feet. Select units have built-in wine storage, dual-sink vanities in the primary bathroom and/or covered balconies. In addition to amenities like a pool, coworking spaces and a pet spa, Jade also features 3,200 square feet of ground-level retail space. Tango Brew, a pet-friendly coffee and wine bar, will soon open a 1,600-square-foot eatery at Jade, with plans to offer both indoor and outdoor seating for up to 66 people, including an outdoor bar and patio as well as a water and treat station for patron’s dogs.
DAWSONVILLE, GA. — KeyBank Real Estate Capital has provided a $42.9 million Fannie Mae loan for the refinancing of Pointe Grande Dawsonville, a 300-unit apartment community in metro Atlanta. Justin Ownby and Patrick Fitzgerald of KeyBank’s Commercial Mortgage Group originated the financing on behalf of the borrower, Central Florida-based Hillpointe. Built between 2022 and 2023, the garden-style property is situated on a 23.5-acre parcel and features 12 three-story apartment buildings, as well as a 24-hour fitness center, resort-style pool with private cabanas, 24-hour conference and business center, Starbucks coffee/tea bar and a bark park with agility equipment and a pet spa.
WASHINGTON, D.C. — Gantry has arranged a $22.3 million acquisition loan for Cityline at Tenley, a Target-anchored shopping center located at 4500 Wisconsin Ave. NW in Washington, D.C.’s Tenleytown neighborhood. The center is part of a mixed-use development that also features 204 condominiums. Other retail tenants at the 89,000-square-foot retail property include Ace Hardware and Bank of America. Cityline at Tenley is situated above a Metro station near American University and across Wisconsin Avenue from a Whole Foods Market grocery store, Wawa and Chick-fil-A. Braden Turnbull, George Mitsanas and Austin Ridge of Gantry arranged the fixed-rate financing through a life insurance company on behalf of the borrower, Lincoln Property Co. The loan features a seven-year term with five years of interest-only payments followed by a 30-year amortization schedule.
TEMPE, ARIZ. — Subtext has announced plans for VERVE Tempe, a high-rise student housing community at 1011 E. Orange St. in Tempe. Slated for delivery in fall 2026, the 15-story property is within walking distance of the Arizona State University campus. Totaling 479,388 square feet, VERVE Tempe will feature 240 units in a mix of studio, one-, two-, three- and four-bedroom layouts, totaling 769 beds. VERVE Tempe will also offer 2,030 square feet of street-level retail space; a coffee bar with hot and nitro options; dedicated study space with booths, pods and collaboration rooms; a game room with simulators; rooftop pool deck; and a two-story fitness and wellness center with spa, sauna and yoga studio. Project partners include ESG Architecture & Design as architect and interior designer and Brinkmann Constructors as general contractor. Kennedy Wilson is providing an undisclosed amount of construction financing for the development.
SUNNYVALE, CALIF. — Sares Regis Group of Northern California (SRGNC) has started leasing at The Martin, an apartment community in downtown Sunnyvale, just west of San Jose. The 12-story building offers 479 apartments in a mix of studio, one-, two- and three-bedroom layouts, along with penthouse and townhome options. The first residents are expected to move in in July. Situated within the master-planned Cityline, The Martin’s on-site amenities include a pool, spa, clubroom, two fitness centers, a sky lounge on the 11th floor with panoramic views, a 3,000-square-foot rooftop deck with outdoor barbecues, pet spa and bike storage. Additionally, the development will offer 11 retail spaces and co-working space for residents. The Martin’s all-electric, high-efficiency apartments will offer stainless steel appliances, contemporary cabinets with quartz countertops, ceramic tile bathtubs and showers, in-unit washers/dryers, central air conditioning, wall-to-wall wood-plank flooring, floor-to-ceiling windows, private bathrooms and patios. San Francisco-based Heller Manus is the architect for the project. A joint venture between SRGNC and Hunter Partners is developing the larger Cityline project. Upon completion, Cityline will encompass 1,100 new apartments, 1 million square feet of office space and more than 500,000 square feet of retail space.
WEST HOLLYWOOD, CALIF. — Priority Capital Advisory has arranged $35 million in debt financing to refinance Faring’s planned Robertson Lane, a 400,000-square-foot retail and hotel project in West Hollywood. Centennial Bank provided the financing, which Zachary Streit of Priority Capital Advisory arranged. Located at 645-681 N. Robertson Blvd., the 84,506-square-foot development site is an assemblage of eight contiguous lots. The assembled site was originally entitled for a 10-story, 237-room hotel with dining, nightclub, entertainment and retail space, a rooftop pool and a three-level, 750-car underground parking garage. In 2022, the ownership submitted a revised plan for a 123-room luxury hotel and seven-story office tower over ground-floor retail space and a subterranean garage. Current plans include the adaptive reuse and rehabilitation of the Factory Building, a historical building dating to 1929.
CHICAGO — McHugh Construction has completed a multimillion-dollar renovation of a 191-room, 14-story hotel in Chicago. The property opened in June as L7 Chicago and marks the first L7-branded property in North America from South Korea-based Lotte Hotels & Resorts. McHugh also completed the build-out of Perilla Korean American Steakhouse, the hotel’s anchor restaurant on the ground floor, as well as a new lobby. In late August 2023, McHugh began demolition of the restaurant and lobby of the former Kimpton Hotel Monaco at 225 N. Wabash Ave. and erected temporary walls so that the hotel remained in operation throughout the renovation. McHugh started renovating the top floor in November and worked its way down one floor at a time. The project included new carpet, wall coverings, finishes and furniture for hotel rooms, suites and corridors; reupholstered window seats in each room; and new tiles on the wall alongside each guest room door. The project team included interior designer AvroKo and Grec Architects. Located steps from the Chicago Riverwalk and the Magnificent Mile, the building was originally constructed in 1912 and served as a hat factory and headquarters of D.B. Fisk Co., the largest wholesale millinery in the country until 1932. …
STEVENSON RANCH, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of Stevenson Ranch Plaza, a neighborhood shopping center in Stevenson Ranch, approximately 35 miles northwest of Los Angeles. San Francisco-based Catalyst Real Estate sold the asset to a Los Angeles-based private investor for an undisclosed price. Kevin Fryman, Ed Hanley, Sean Cox and Alexander Moore of Hanley Investment Group represented the seller, while Edmond Bina of Beverly Hills-based EMB Properties represented the buyer in the deal. Originally built in 1999 and remodeled in 2023, Stevenson Ranch Plaza offers 29,817 square feet of retail space at 25804-25860 Hemingway Ave. Tutor Time, a subsidiary of Learning Care Group, anchors the retail center and has operated at the property since it was built.