SAVANNAH, GA. — Walker & Dunlop has arranged a $78.6 million bridge loan for the refinancing of Ann Street Lofts, a six-story multifamily community located at 111 Ann St. in Savannah’s Historic District. Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Michael Ianno and Christopher de Raet of Walker & Dunlop’s New York office arranged the floating-rate loan through BentallGreenOak on behalf of the borrower and developer, Tidal Real Estate Partners LP. The five-year loan retires previous construction debt on the property provided by Cerberus Capital Management. Delivered last year by Tidal, Ann Street Lofts features 162 studio apartments, 51 one-bedroom units, 19 two-bedroom apartments and 10,000 square feet of retail space that is in lease-up. Amenities include coworking space, an art studio, fitness center and EV (electric vehicle) charging stations.
BEAUFORT, S.C. — National retailers T.J. Maxx and HomeGoods are set to open new stores at Beaufort Station, a 200,000-square-foot shopping center coming on line in the Hilton Head suburb of Beaufort. Both brands are set to open tomorrow. The Morgan Cos. is the developer of Beaufort Station, which will feature nine anchor and junior anchor stores, including Hobby Lobby, Ross Dress for Less, PetSmart, Ulta Beauty, Old Navy, Five Below and Rack Room Shoes. Other tenants will include Aldi, Parker’s Kitchen, Panda Express, Chicken Salad Chick, Surcheros Fresh Mex, America’s Best and Mattress Firm. Other tenant announcements are expected in the near future. Beaufort Station is situated at the intersection of S.C. Highway 170 and Robert Smalls Parkway, about 27 miles north of Hilton Head.
SUFFOLK, VA. — A joint venture between Atapco Properties Inc. and Ausblick Development has purchased 124 acres within Virginia Port Logistics Park, a 932-acre industrial campus located in the Hampton Roads city of Suffolk. Situated about 30 miles from the Port of Virginia, the site has the capacity to accommodate 1.5 million square feet of industrial space across a single facility or multiple buildings. Construction plans were not disclosed. The project represents the entry into Hampton Roads for both Atapco Properties and Ausblick Development.
MCDONOUGH, GA. — CBRE has arranged $45.9 million in acquisition financing for The Preston, a 334-unit apartment community located at 100 Preston Creek Drive in McDonough, a southeast suburb of Atlanta. Blake Cohen and Charlie Clark of CBRE Capital Markets’ Debt & Structured Finance team in Atlanta arranged the financing on behalf of the borrower, ARC Multifamily, which purchased the property for approximately $52.4 million. CBRE originated a $34.2 million senior Fannie Mae loan and arranged an $11.7 million preferred equity investment from Related Fund Management on behalf of the borrower. Built in 2001, The Preston features a mix of one-, two- and three-bedroom apartments ranging in size from 767 to 1,794 square feet. Amenities include two swimming pools, a grilling area, business center and a resident lounge.
LEBANON, TENN. — Marcus & Millichap has brokered the sale of Leeville Pike Storage, a 182-unit self-storage facility located at 6000 Leeville Pike in Lebanon, about 20 miles east of Nashville via I-40. The gated property was built in 2015 and features LED lighting and security cameras. Andrew Beeckman of Marcus & Millichap’s Nashville office represented the seller and procured the buyer in the transaction. Both parties requested anonymity, and the sales price was also not disclosed. Beeckman says the previous owner was motivated to sell in order to retire.
KYLE, TEXAS — Texas-based private equity firm SPI Advisory has sold Oaks on Marketplace, a 254-unit apartment complex located in the southern Austin suburb of Kyle. The property was built in 2017 and offers one-, two- and three-bedroom units. According to Apartments.com, amenities include a pool, fitness center, clubhouse and a dog park. SPI Advisory acquired the property in 2019 as part of a portfolio deal and implemented a value-add program. The buyer was not disclosed, but the property website currently identifies metro Chicago-based Sherman Residential as the owner and operator. The new ownership has rebranded the property as Axis Marketplace.
ARLINGTON, TEXAS — NAI Robert Lynn has brokered the sale of a 61,458-square-foot warehouse in Arlington. According to LoopNet Inc., the property at 525 113th St. was built on 2.8 acres in 1970, renovated in 2014 and features 21-foot clear heights, 100-foot truck court depths and parking for 56 cars. Michael Stanzel of NAI Robert Lynn represented the seller, JTM Management LLC, in the transaction. Eugene Krasny of KEI Realty represented the buyer, Weby Holdings Inc.
HOUSTON — Partners Real Estate will expand and relocate its office headquarters to a 32,286-square-foot space at San Felipe Plaza, a 1 million-square-foot building in West Houston’s Galleria District. The full-service firm currently subleases space at the nearby building at 1360 Post Oak Blvd., a deal that expires next March. Dan Boyles and Griff Bandy internally represented Partners in the lease negotiations. New York-based Sovereign Partners owns San Felipe Plaza.
SUNNYVALE, TEXAS — Tom Thumb will open a new 58,000-square-foot grocery store in Sunnyvale, an eastern suburb of Dallas, that will have a coffeeshop, pharmacy and fuel station. Scheduled to open in late 2025, the store will be located within Gateway Park, a $124 million development that spans 240,000 square feet and features additional retail and restaurant space, as well as athletic facilities. The Sunnyvale Town Council approved $3 million in incentives for the store’s development.
HOUSTON — Nonprofit organization Omar Welfare Association has signed a 4,718-square-foot office lease in West Houston. According to LoopNet Inc., the building at 3030 S. Gessner Road spans 61,599 square feet and includes medical office space. Christian Villarreal and William Alcorn of Finial Group represented the undisclosed landlord in the lease negotiations. The representative of the tenant was also not disclosed.