FORT WORTH, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 3,343-square-foot office lease at Mallick Tower in downtown Fort Worth. The 90,000-square-foot building was originally constructed in 1968. Vic Meyer and Jake Neal with Holt Lunsford Commercial represented the undisclosed landlord in the lease negotiations. The representative of the tenant, Prima Title Group, was also not disclosed.
HERNDON, VA. — Brightview Senior Living has opened Dulles Corner in Herndon, a Washington, D.C. suburb near Dulles International Airport. Dulles Corner offers 196 units of independent living, assisted living and memory care. The development marks Brightview’s 46th community and its third in Fairfax County. The property is the seniors housing component of Innovation Center Station, a $1 billion mixed-use development by Penzance that will also feature offices, residences, a hotel, shops, restaurants and parks.
POOLER, GA. — A joint venture between PCCP LLC and NFI has acquired 95 Logistics at Pooler Parkway, an industrial property comprising two facilities in Pooler, roughly 10 miles outside downtown Savannah. Totaling 565,000 square feet at 1030 and 1240 S H Morgan Parkway, the buildings are situated within an industrial park and feature 32-foot clear heights. Building I, which is fully leased to the affiliated warehouse operating company of NFI, comprises 347,525 square feet and includes 54 dock doors, 108 car parking spaces and 95 trailer parking spaces. Building II features 216,964 square feet with 50 dock doors, 187 car parking spaces and 52 trailer parking spaces. Store Supply Warehouse and GCE International occupy the second building.
ILLINOIS AND WISCONSIN — First Citizens Bank’s Healthcare Finance group has provided $44.2 million in acquisition financing for a three-property medical office portfolio in Illinois and Wisconsin. A partnership between Kayne Anderson Real Estate and Remedy Medical Properties was the borrower. The portfolio totals more than 266,000 square feet. The properties include the ProHealth Medical Group urgent care center in Brookfield, Wis.; the Moreland Medical Center in Waukesha, Wis.; and the Silver Cross Health Center urgent care facility in Mokena, Ill.
CHICAGO — McHugh Construction and its joint venture partner Brown & Momen have completed construction of 508 Pershing at Oakwood Shores, a $24.3 million affordable housing development in Chicago’s Bronzeville neighborhood. The project rises four stories with 53 units. The Community Builders was the developer for the project, which is part of the larger Oakwood Shores. The 55,000-square-foot building was constructed on land formerly occupied by the Chicago Housing Authority’s Ida B. Wells, Madden Park and Clarence Darrow Homes. Of the 53 units, 36 are financed through the Low-Income Housing Tax Credit program and are designated for households earning up to 80 percent of the area median income. The remaining 17 units are market rate. National Affordable Housing Trust provided funding in partnership with UnitedHealth Group. Nia Architects and Antunovich Associates designed the project.
BROOKFIELD, WIS. — Colliers has brokered the sale of the Shoppes at Brookfield Commons in the Milwaukee suburb of Brookfield for $9.2 million. The 42,356-square-foot shopping center is located at the intersection of West Bluemound and North Moorland roads. The property is 40 percent vacant. Some of the tenants include Chipotle, H&R Block and LasikPlus. Adam Connor led a Colliers team that represented the seller and procured the buyer, a private Illinois-based real estate company. The transaction marked the first acquisition in Wisconsin for the buyer.
MUNDELEIN, WEST CHICAGO AND ELMHURST, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VI LP, has acquired a three-building industrial portfolio in metro Chicago for an undisclosed price. The 56,128-square-foot portfolio is 90 percent leased to seven tenants. The properties include: a 14,845-square-foot, single-tenant building in Mundelein that was built in 1989; a 21,900-square-foot, multi-tenant building in West Chicago that was constructed in 1988; and a 19,383-square-foot, single-tenant asset in Elmhurst that was built in 1972. Noel Liston and Nick Crejci of Core Industrial Realty represented the undisclosed seller. VK Industrial VI is co-sponsored by Venture One and Kovitz Investment Group.
GRAYSLAKE, ILL. — Hanley Investment Group Real Estate Advisors has arranged the $3.7 million sale of a newly constructed retail property occupied by Kiddie Academy in Grayslake, a northern suburb of Chicago. The 9,492-square-foot, net-leased building is located at 807 Barron Blvd. Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the seller and developer, The Woodmont Co. Gordon Nielsen of Summit Commercial Real Estate LLC represented the buyer, a private investor, based in Fairfax, Va. The sales price represented a cap rate of 6.6 percent.
CORAL GABLES, FLA. — JLL’s Hotels & Hospitality Group has arranged the sale of Hotel Colonnade Coral Gables, a 157-room hotel located at 180 Aragon Ave. in Coral Gables. The property, which underwent renovations in 2016, features 34,000 square feet of indoor and outdoor meeting and event space, luxury amenities and food-and-beverage options. Christopher Exler and Pamela Vasquez of JLL represented the seller, Pebblebrook Hotel Trust, and secured the buyer in the transaction. Additionally, a JLL Capital Markets Debt Advisory team led by Mark Fisher secured acquisition financing on behalf of the buyer. The sales price and loan amount were not disclosed.
CRESTVIEW, FLA. — Housing Trust Group (HTG) and nonprofit AM Affordable Housing have broken ground on Princeton Grove, an affordable housing development in Crestview catered to seniors aged 62 and older. Located at 475 Aplin Road, the community will comprise four stories with a mix of one- and two-bedroom units. Apartments, which will be reserved for residents who earn at or below 22, 30 and 60 percent of area median income (AMI), will range in cost from $363 to $1,188 per month. Five units have been committed for veterans who meet the household income and age criteria. Amenities will include a clubhouse, fitness center, pickleball court, putting green, media room with computer stations, swimming pool and a dog park. Funding sources for the $23.5 million project, which is scheduled for completion next fall, include a $14 million construction loan from Truist Bank, $9.1 million in 4 percent Low Income Housing Tax Credit (LIHTC) equity syndicated through Truist Community Capital and three additional loans from the Florida Housing Finance Corp. Grandbridge Real Estate Capital additionally provided a $7.5 million Freddie Mac loan. Bayern Construction is the general contractor on the project, with PQH Group acting as architect and interior designer and …