NEW YORK CITY — Adaptive Security has signed a 51,220-square-foot office sublease in the Financial District of Lower Manhattan. The AI-powered cybersecurity company is taking space formerly leased to BarkBox, an e-commerce firm for the pet products industry, at 120 Broadway. Zev Holzman, Christopher Foerch, Will Demuth and Riley Scanlon of Savills represented the subtenant in the lease negotiations. Ross Zimbalest of CBRE represented the sublandlord. The owner of the building was not disclosed.
RICHMOND HEIGHTS, MO. — Life Time is expanding its presence in the St. Louis market with plans to introduce Life Time Living, its wellness-centered luxury residential concept, through a new partnership with Midas Hospitality. The seven-story development in Richmond Heights will combine upscale residences with Life Time’s signature athletic club. Plans call for 263 apartment units in a mix of studio, one- and two-bedroom layouts. Residents will benefit from direct access to a 110,000-square-foot Life Time athletic club. Amenities will include a 30,000-square-foot rooftop pool and outdoor amenity deck; fitness, training and recovery spaces; dedicated group fitness studios and personal coaching services; and indoor and outdoor gathering spaces. There will also be 6,000 square feet of retail space. The project will be part of the broader Boulevard South mixed-use development along Brentwood Boulevard.
KANSAS CITY, MO. — Milhaus has received approval from the Missouri Housing Development Commission (MHDC) for Low-Income Housing Tax Credits (LIHTC) to advance Linwood & Troost Apartments in Kansas City. The project will convert two vacant lots at 2300 Troost Ave. into an affordable housing development featuring two four-story buildings with 194 units. The project marks the first LIHTC development in Kansas City for Milhaus. Funding for the development includes 4 percent federal tax credits through the MHDC LIHTC program, a tax abatement from Kansas City’s Planned Industrial Expansion Authority and $1.5 million awarded from the Kansas City Housing Trust Fund. All units will serve households at or below 60 percent of the area median income. Construction is expected to begin by the end of 2026, with completion anticipated in 2028. Milhaus is serving as both developer and general contractor.
CHICAGO — JLL Capital Markets has brokered the sale of Clybourn Center, a 33,140-square-foot unanchored strip center in Chicago’s Lincoln Park neighborhood. The retail property is located on North Clybourn Avenue across from Foundry Park, a $1 billion mixed-use redevelopment project. When complete, Foundry Park will deliver roughly 3,700 residential units, 350,000 square feet of office space, 420,000 square feet of retail, 250,000 square feet of hospitality and 12 acres of open space. Clybourn Center was 91.2 percent occupied at the time of sale, with 38 percent of the gross leasable area occupied by medical tenants including Physicians Immediate Care, Premier Allergy and Metro Infusion. The property features 86 surface-level parking spaces. Michael Nieder and Brian Page of JLL represented the undisclosed seller. Curbline Properties was the buyer. JLL took on the leasing of Clybourn Center in 2009, with Steve Schwartz leading efforts.
LEAVENWORTH, KAN. — Northmarq has arranged a $14.3 million acquisition loan for Station Lofts, a 148-unit multifamily community in Leavenworth. Daniel Trebil and Logan McCarthy of Northmarq arranged the Freddie Mac loan on behalf of the borrower, Partner Apartments. The 10-year loan features a fixed interest rate. Originally built in 1926, Station Lofts has been repositioned to serve today’s renters. The loft-style units come in one-, two- and three-bedroom layouts.
STEAMBOAT SPRINGS, COLO. — Serac Capital Partners, in partnership with hospitality development firm WalshDupart, has completed construction of a 180-unit, dual-branded hotel at at 1750 Central Park Drive in Steamboat Springs. The hotels carry the SpringHill Suites by Marriott and TownePlace Suites by Marriott flags. SpringHill Suites offers suites and complimentary breakfast, while TownePlace Suites offers apartment-style accommodations, in-suite kitchens and flexible living spaces. The two hotels are connected via The Crawford Lounge, which features a fireplace, billiards and a curated selection of local bites and craft cocktails. St. Louis-based Midas Hospitality will manage the properties.
NATIONAL CITY, CALIF. — KIRE Group has received $13.3 million in refinancing for Talas Apartments, a multifamily property located at 2114 E. 7th St. in National City, approximately five miles southeast of San Diego. Built in 2025, Talas Apartments features 48 studio, one- and two-bedroom units with “modern” finishes, in-unit washers and dryers and private balconies and patios. Aaron Beck and Bryce Quezada of Northmarq’s San Diego Debt + Equity team originated the financing for the borrower through Fannie Mae’s Delegatd Underwriting Services (DUS) platform. The fixed-rate loan is structured with a five-year term with full-term interest-only payments.
DANA POINT, CALIF. — Local financial intermediary PSRS has arranged a $6.5 million loan for the cash-out refinancing of a 31,801-square-foot shopping center in Dana Point, located in Orange County. Secured through a bank relationship, the nonrecourse loan features a sub-30 percent loan-to-value ratio and a three-year, full-term interest-only structure. Michael Presser of PSRS handled the debt placement on behalf of the undisclosed borrower.
FIRESTONE, COLO. — Target will open a 128,000-square-foot store at Firestone City Centre, located north of Denver, later this month. Firestone City Centre features more than 600,000 square feet of retail and restaurant space that is home to a mix of national retailers and restaurants. Additionally, the project includes Firestone Junction, a 300-unit multifamily community. The Staenberg Group, a full-spectrum real estate development and investment firm, owns the property.
WEST HARRISON, N.Y. — Kennedy Wilson (NYSE: KW) has purchased Carraway, a 421-unit apartment community in West Harrison, located north of New York City in Westchester County, for $237 million. Kennedy Wilson partnered with Kenedix Inc. and Hulic Co. Ltd. on the acquisition. The seller was not disclosed. Completed in 2021, Carraway houses studio, one- and two-bedroom units, as well as onsite parking. Residences are furnished with stainless steel appliances, marble-style kitchen backsplashes, quartz bathroom and kitchen countertops and in-unit washers and dryers. Select residences offer private balconies. Amenities include a pool, fitness center, resident clubroom, private offices and coworking space, a sports simulator, private dining room, chef’s kitchen, pet spa and a children’s playroom. Carraway also features approximately 6,400 square feet of ground-floor retail space. “Carraway represents a rare opportunity to acquire a high-quality, recently constructed multifamily community in one of the most desirable suburban markets in the New York metropolitan area,” says William McMorrow, chairman and CEO of Kennedy Wilson, which is based in Beverly Hills and maintains about $37 billion in assets under management. — Taylor Williams