Property Type

Greystar Begins Leasing 33-Story Nomia Apartment Tower in Midtown Atlanta

by John Nelson August 29, 2023

ATLANTA — Greystar has begun leasing the first available units at Nomia, a 33-story high-rise apartment tower that will be located at 17th and Peachtree streets in Midtown Atlanta. The Charleston-based developer plans to officially open the 281-unit property this fall. Nomia will feature one-, two- and three-bedroom apartments, as well as penthouses with large floor-to-ceiling windows. Amenities will include a rooftop pool and terrace, spa, TULU luxury vending service, a fitness center and structured parking with electric vehicle charging stations, as well as street-level retail space. Nearby attractions include the High Museum, Museum of Design Atlanta (MODA) and Woodruff Arts Center, and global employers including NCR, PwC, Coca-Cola, Google, Norfolk Southern and AT&T have regional campuses in close proximity to Nomia.

August 29, 2023

Development Loans Multifamily Southeast Virginia

Capital Square to Raise $63.3M in Equity, Closes Construction Debt for Richmond Apartment Project

by John Nelson August 29, 2023

RICHMOND, VA. — Capital Square has announced plans to raise $63.3 million in equity from accredited investors through its CSRA Opportunity Zone Fund VII LLC for the development of a 352-unit multifamily development in Richmond. The developer has also closed a construction loan for an undisclosed amount through United Bank. Walker & Dunlop arranged the financing. Capital Square broke ground on the unnamed community in April and expects to deliver the property in summer 2025. Located at 2929 W. Clay St. and 2922 & 2925 W. Marshall St. in Richmond’s Scott’s Addition neighborhood, the community will comprise three adjoining buildings situated atop podium parking and retail space. Planned amenities will include courtyards, a zero-edge pool, gym, clubhouse, dog park and a sky lounge.

August 29, 2023

River-Pointe-Logistics-Center-Lehigh-Valley

Development Industrial Northeast Pennsylvania

River Pointe Logistics Provides Updates on 800-Acre Lehigh Valley Industrial Project

by Taylor Williams August 29, 2023

UPPER MOUNT BETHEL, PA. — Developer River Pointe Logistics has provided updated plans for River Pointe Commerce Park, an industrial project located in the Lehigh Valley city of Upper Mount Bethel. The development team has received conditional preliminary approval for subdivision, infrastructure improvements and land development plans for three lots within the 800-acre site. River Pointe now expects to break ground on the initial phase of construction, which will center around a 375,000-square-foot building, in the fourth quarter. To date, River Pointe has invested over $8 million in design, engineering, geotechnical, and impact analysis, including traffic, environmental and economic analysis.

August 29, 2023

Hospitality Loans New York Northeast

Cronheim Mortgage Arranges $22M Loan for Refinancing of Marriott-Branded Hotel in Manhattan

by Taylor Williams August 29, 2023

NEW YORK CITY — An affiliate of New Jersey-based intermediary Cronheim Mortgage has arranged a $22 million loan for the refinancing of the 92-room Fairfield Inn & Suiteshotel located at 21 W. 37th St. in Manhattan. Beau Williams and Michael McGuire of Cronheim Mortgage arranged the debt on behalf of the locally based borrower, LAM Management. The direct lender was not disclosed.

August 29, 2023

Arkansas Development Seniors Housing Southeast

Arrow, O’Reilly Development Deliver 158-Unit Seniors Housing Community in Little Rock

by John Nelson August 29, 2023

LITTLE ROCK, ARK. — Arrow Senior Living has opened The Summit Senior Living at Chenal Valley in Little Rock. Built by O’Reilly Development, the property is situated in the West Little Rock area and sits on 12 acres near outdoor recreation, shopping and fine dining. The 163,000-square-foot property features 96 independent living units, 44 assisted living units and 18 memory care units. The Summit Senior Living at Chenal Valley is the first Arrow-operated community in Arkansas and the operator’s 35th in the nation.

August 29, 2023

Development Florida Leasing Activity Mixed-Use Restaurant Retail Southeast

PEBB, Falcone Group Sign Three New Restaurants to Beachwalk Mixed-Use Project in Jacksonville

by John Nelson August 29, 2023

JACKSONVILLE, FLA. — PEBB Enterprises and Falcone Group have signed three new restaurant tenants to join Beachwalk, a mixed-use project currently underway in Jacksonville. Starbucks Coffee, Fancy Sushi and Playa Bowls will occupy 2,500, 1,500 and 1,200 square feet, respectively. The new leases bring the retail and restaurant space at the development, which totals 170,000 square feet, to 55 percent occupancy. Other tenants at the project include Fysh Bar & Grill, Noire Nail Bar, F45 Fitness, BurgerFi, Supercuts, Kilwins, Bagels R Us, Island Fin Poke, The Covery and Union 76 Daybreak Market. Upon completion, the development will also feature a 130-room hotel and 348-unit apartment community.

August 29, 2023

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates $4.1M Sale of Two Multifamily Properties in Elizabeth, New Jersey

by Taylor Williams August 29, 2023

ELIZABETH, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $4.1 million sale of two multifamily properties totaling 20 units in the Northern New Jersey community of Elizabeth. Both buildings rise three stories, and one of the buildings includes two commercial spaces. Don Baxter and Michael Salomon of Kislak represented the seller in the transaction, and Joni Sweetwood of Kislak procured the buyer. Both parties requested anonymity.

August 29, 2023

Acquisitions Arizona Development Healthcare Industrial Mixed-Use Multifamily Office Restaurant Retail Western

Partnership Purchases 311-Acre Site for Mixed-Use Project in Gilbert, Arizona

by Amy Works August 29, 2023

GILBERT, ARIZ. — Indicap, Colmena Group and Langley Properties have completed the purchase of 311 acres of land at the northwest corner of Power and Warner roads in Gilbert. The property traded for $107.5 million in an all-cash transaction. The buyers plan to develop The Ranch, a billion-dollar mixed-use project on the site. With the land acquisition complete, the project will move to the site planning and design phase, with a groundbreaking slated for third-quarter 2024. The project will include: Jason Hyams of Insight Land and Investments represented the buyer. Danny Perkinson and Scott Perkinson of Perk Prop Real Estate represented the seller, The Dale C. Morrison Trust, in the deal.

August 29, 2023

Leasing Activity New York Northeast Office

BlueCrest Capital Management Signs 21,640 SF Office Lease in Midtown Manhattan

by Taylor Williams August 29, 2023

NEW YORK CITY — BlueCrest Capital Management, a British-American hedge fund, has signed a 21,640-square-foot office lease at 450 Park Avenue in Midtown Manhattan. The lease term is 15 years, and the space encompasses the entire 30th and 31st floors of the 33-story building. Daniel Posy and Joe Messina of JLL represented the tenant in the lease negotiations. Paul Amrich, Neil King, Alexander D’Amario and Maxwell Tarter of CBRE represented the landlord, SL Green.

August 29, 2023

Acquisitions California Industrial Western

Westcore Acquires 3.5 MSF Industrial Portfolio in California

by Amy Works August 29, 2023

CHINO, VALENCIA AND LIVERMORE, CALIF. — Westcore has acquired the Odyssey Portfolio, a 3.5 million-square-foot industrial portfolio across Chino, Valencia and Livermore. The price was not disclosed. The portfolio includes: The industrial buildings are all fully occupied with staggered lease expirations that will enable Westcore to drive value and make capital improvements to the properties. Current tenants include Pharavite, Tesla, Draxlmaier Automotive, Coca-Cola and Schlage. Steve Silk, Jay Borzi, Adam Pastor and Christina Buhl of Eastdil Secured represented the undisclosed seller, while Westcore was self-represented in the deal.

August 29, 2023

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