SAN ANTONIO — A joint venture between global private investment firm Quilvest Capital Partners and Atlanta-based Axis Industrial Outdoor Storage (IOS) has acquired an 18.6-acre site in San Antonio. The site at 9415 NE Loop 410 is located in the city’s Eastgate neighborhood and houses the operations of Anderson Machinery Co. The seller and sales price were not disclosed. The deal is the first of the joint venture’s larger initiative to acquire and operate an approximately $500 million portfolio of IOS properties across the country.
FORT WORTH, TEXAS — Marcus & Millichap Capital Corp. (MMCC) has arranged an $8.6 million acquisition loan for Renaissance Square, a shopping center in Fort Worth that totals 105,065 square feet, according to LoopNet Inc. The center was built in 2013 and was fully leased at the time of the loan closing to tenants such as Marshall’s, Ross Dress for Less and Dollar Tree. The borrower and direct lender were not disclosed. The loan carried an interest rate of 6.75 percent and a 30-year amortization schedule. Marcus & Millichap also represented the undisclosed seller in the disposition of the property.
HOUSTON — C&T Design & Equipment, which designs and furnishes restaurants and commercial kitchens, has signed a 19,886-square-foot industrial lease in northwest Houston. According to LoopNet Inc., the building at 9555 Baythorne Drive was constructed in 2001 and totals 28,576 square feet. Jim Cooper of Cypressbrook Co. represented the tenant in the lease negotiations. The landlord was an entity doing business as Texas KBC LLC.
NEW YORK CITY — Dwight Mortgage Trust, the affiliate REIT of locally based lender Dwight Capital, has provided $100 million in bridge financing for a 168-unit apartment building located at 224 W. 124th St. in West Harlem. The 19-story building was completed earlier this year and offers one-, two- and three-bedroom units, as well as townhomes and penthouse suites. Roughly 30 percent (51) of the residences are reserved as affordable housing. Amenities include a fitness center, children’s playroom, business lounge and a rooftop deck. The borrower and developer, Carthage Real Estate Advisors, will use the proceeds to refinance existing construction debt and fund lease-up of the property and other capital expenditures.
HOLBROOK, N.Y. — Regency Centers has begun the redevelopment of the 280,000-square-foot former SunVet Mall in the Long Island community of Holbrook. Regency has rebranded the 50-year-old property as The Shops at SunVet and plans to reposition it as a 168,000-square-foot, open-air shopping center with six outparcels. Whole Foods Market will anchor the center. Demolition of the existing structure is underway, and new construction is scheduled to begin in spring 2024. SBLM Architects is the lead architect on the project.
JERSEY CITY, N.J. — JLL has arranged an $18.6 million loan for the refinancing of an 83-unit apartment complex in the Journal Square area of Jersey City. The six-story building at 39 High St. was delivered earlier this year and houses a mix of studio, one-, two- and three-bedroom units. Amenities include a fitness center, tenant lounge, children’s playroom and a rooftop terrace. Matthew Pizzolato, Max Custer and John Cumming of JLL arranged the fixed-rate loan through an undisclosed life insurance company. The borrower was a partnership between Spitzer Enterprises and Titanium Realty Group.
PROVIDENCE, R.I. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the sale of a 33,700-square-foot office and retail building in Providence. Known as The Lauderdale Building, the downtown-area property consists of nine office suites and three retail spaces. Tim McGeary and Rick Welch of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
BRADENTON, FLA. — Ryan Cos. has begun leasing Renata at Lakewood Ranch, a 502-unit apartment development located in Bradenton, a suburb of Tampa. The property is part of the 33,000-acre Lakewood Ranch development. Renata’s first buildings and clubhouse are set to open this month. Ryan Cos., along with development partners PGIM Real Estate and ParkSprings Development, expect to fully open the property by July 2024. Renata will include one-, two- and three-bedroom apartments ranging in size from 740 to 1,285 square feet, as well as a resort-style pool, fitness facilities and a private lakeside beach. Monthly rental rates will range from $2,145 to $2,790, according to Apartments.com.
PLYMOUTH MEETING, PA. — Norman’s Hallmark has opened a 7,280-square-foot store at The Metroplex in Plymouth Meeting, a northern suburb of Philadelphia. The store offers a complete line of Hallmark products, cards and Keepsake Ornaments, as well as apparel, accessories, books, stationery, games, home décor, candy and gourmet foods. Norman’s Hallmark currently operates 75 stores.
MIAMI — The Treo Group has broken ground on VOX Miami Phase II, a 13-story student housing development located adjacent to the South Miami Metrorail station near the University of Miami campus. The project will offer 400 beds in 163 units, alongside 10,000 square feet of ground floor retail space. Together with Phase I of the development, the community will offer 726 beds and 15,000 square feet of retail space. Further details on the project were not provided. The development team includes FirstBank Florida, ABANCA USA, MODIS Architects, MOSS & Associates and Asset Living.