MAHOMET, ILL. — Eastern Mortgage Capital has provided a $24.1 million HUD 223(f) loan for Solace at Mahomet, a 194-unit multifamily property in the central Illinois city of Mahomet. Peter Panagako of Eastern Mortgage Capital originated the loan. Eastern Mortgage Capital is a Massachusetts-based HUD-insured lender.
DOVER, OHIO — Marcus & Millichap has arranged the $3.5 million sale of a 34,658-square-foot medical office building in Dover, about 45 miles south of Akron. The 10-suite property is situated on 5 acres at 340 Oxford St. Built in 2001, the facility is leased to healthcare providers, including OrthoUnited, Trinity Hospital, Retina Associates of Cleveland and Aultman Hospital. The asset is located one mile from Cleveland Clinic Union Hospital. OrthoUnited, the anchor tenant, recently invested more than $1.5 million into its 27.7 percent share of the building. Ryan Moore, Christopher Mitchel and Billy Skoch of Marcus & Millichap represented the seller, an Ohio-based private investor. The buyer was not released.
SEATTLE — Amazon (NASDAQ: AMZN) has unveiled plans to close its Amazon Go and Amazon Fresh physical stores, converting various locations into Whole Foods Market stores. The Seattle-based e-commerce giant states that it hasn’t “yet created a truly distinctive customer experience with the right economic model needed for large-scale expansion.” Customers can continue to shop Amazon Fresh online in available areas for delivery. At the same time, Amazon plans to open more than 100 new Whole Foods Market stores over the next few years, citing increased investment in “physical stores that are resonating with customers.” Amazon acquired the Austin-based natural and organic foods grocer in 2017 in a $13.7 billion deal. Since then, the brand has experienced over 40 percent sales growth and expansion to more than 550 locations. There are 14 Amazon Go convenience stores located in Washington, California, Illinois and New York. According to the company, Amazon Go locations served as innovation hubs where Amazon developed Just Walk Out technology — now a scalable checkout-free solution operating in over 360 third-party locations across five countries. There are 58 Amazon Fresh grocery stores located in California, Illinois, New York, New Jersey, Maryland, Pennsylvania, Washington, Viriginia and Tennessee. Amazon says …
FARMERS BRANCH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Sola Galleria, a 330-unit apartment community in the northern Dallas metro of Farmers Branch. The property offers one- and two-bedroom units and amenities such as a pool, fitness center, computer lounge, coffee bar, clubhouse kitchen, zen lounge, outdoor grilling and dining stations and a gaming/media room. Joey Tumminello, Drew Kile, Taylor Hill, Michael Ware and Jack Windham of IPA represented the seller, a partnership between HLC Equity and The Hampshire Cos., in the transaction. Cameron Chalfant, Brian Eisendrath, Harry Krieger and Scott Arenzon, also with IPA, arranged an undisclosed amount of acquisition financing for the deal on behalf of the buyer, San Diego-based MG Properties.
MIDLAND, TEXAS — A joint venture between Silverstone Partners and JSB Capital Group has purchased a portfolio of four build-to-rent properties totaling 277 homes in the West Texas city of Midland. The specific names and addresses of the properties, which are collectively known as The Seed Portfolio, were not disclosed. The portfolio features an average home size of 1,300 square feet. The seller was Related Cos. Silverstone affiliate Claireville Residential will manage the properties.
SAN ANTONIO — A joint venture between two Texas-based retail owner-operators, San Antonio-based Headwall Investments and Houston-based Fifth Corner, has acquired a 102,803-square-foot shopping center in San Antonio. Sunset Ridge Shopping Center was originally built in 1950 and was 96 percent leased at the time of sale to a roster of more than 25 tenants, including Jefferson Bank, Great Clips, Baskin-Robbins and Orangetheory Fitness. The seller and sales price were not disclosed.
HOUSTON — SunStrong Management has signed an 18,280-square-foot office lease at the 52-acre Greenway Plaza office complex in Houston. The solar asset management and service firm will occupy space on the fifth floor at 20 Greenway Plaza, a 433,132-square-foot building. Alvarez & Marsal represented the tenant in the lease negotiations. Steve Rocher and Rima Soroka of CBRE represented the landlord, Los Angeles-based Stockdale Capital Partners.
NEW YORK CITY —Wells Fargo has provided $224.3 million in bridge financing for The Italic, a 50-story apartment tower in the Long Island City area of Queens. Designed by SLCE Architects and built by Hunter Roberts Construction Group, the building houses 363 units in studio, one-, two- and three-bedroom units, with 109 residences designated as affordable housing. Amenities include a communal lounge, fitness center, golf simulators, a basketball court, coworking spaces and a rooftop terrace. The building also houses commercial space. Construction on The Italic topped out in late 2023, and leasing launched in spring 2025. Christopher Peck, Nicco Lupo, Michael Shmuely and Alex Staikos of JLL arranged the financing on behalf of the owner, a joint venture between Fetner Properties, Lions Group and The Carlyle Group. JLL also arranged the original construction loan for the project in spring 2023.
ARDMORE, PA. — Eastdil Secured has arranged $140.7 million in construction financing for a 270-unit multifamily project in Ardmore, a northwestern suburb of Philadelphia. The development is known as The Plaza at Ardmore, and the financing consists of a $112.6 million senior loan from Bank OZK and a $28.1 million mezzanine loan from Affinius Capital. Units will come in studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, outdoor grilling and dining stations, a fitness center and dedicated coworking and private study spaces, as well as 30,000 square feet of ground-floor retail space. Nick Seidenberg of Eastdil Secured arranged the financing on behalf of the borrower, an affiliate of Piazza Auto Group, which has partnered with Radnor Property Group for the overseeing of development and construction of the project. A tentative completion date was not announced.
ROCHESTER, N.H. — Locally based investment firm Torrington has purchased The Ridge, a 300,000-square-foot retail power center in Rochester, located along the Maine-New Hampshire border, for $51.3 million. The Ridge is an open-air center that is home to approximately 30 tenants, including Walmart, Market Basket, Marshalls, Hobby Lobby, Old Navy, NH Liquor & Wine Outlet, 110 Grill, Ulta Beauty and Gentle Dental. Waterstone Properties was the seller.