Tuesday, June 16, 2026
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Kalaco-Apts-Denver-CO
ColoradoLoansMultifamilyWestern

Opus Development Receives $67M Refinancing for Multifamily Community in Denver

by Amy Works

DENVER — Opus Development Co., along with an Ares Real Estate fund, has received a $67 million, three-year construction take-out loan from a national balance sheet lender for the refinancing of Kalaco, a 280-unit apartment property in Denver. Kristian Lichtenfels, Eric Tupler and Ellie Savage of JLL Capital Market’s Debt Advisory team secured the financing for the borrower. Delivered in August 2024, the six-story building features studio, one-, two- and three-bedroom apartments averaging 752 square feet. Units offer stainless steel appliances, luxe plank flooring, quartz countertops, walk-in closets, full-size washers and dryers, private patios and balconies. Community amenities include a 233-space parking garage, resort-style sundeck with pool and spa, fire pits and grilling stations, courtyard with lawns games, pet spa, outdoor dog run, two-level fitness center with yoga studio, coworking lounge, social lounge, game area, top-floor lounge/speakeasy, EV charging stations and bicycle storage/repair spaces. Kalaco is situated on 1.9 acres at 1010 W. Colfax Ave.

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GeorgiaHospitalityLoansSoutheast

Newmark Arranges $53M Refinancing for American Hotel Atlanta Downtown

by John Nelson

ATLANTA — Newmark has arranged a $53 million loan for the refinancing of The American Hotel Atlanta Downtown, a 315-room hotel located at 160 Ted Turner Drive NW in downtown Atlanta. The property dates back to 1962 as downtown Atlanta’s first integrated hotel and today is affiliated with Hilton’s Tapestry Collection. Chris Kramer, Tyler Dumon, Tate Keir and Jordan Roeschlaub of Newmark arranged the loan through Structured Hotel Capital on behalf of the borrower, locally based The RADCO Cos. The owner recently executed an $11.3 million renovation for The American Hotel Atlanta Downtown’s guestrooms, public spaces, food-and-beverage options and amenities, which includes a fitness center, outdoor pool and 13,300 square feet of event space. The hotel is situated within close proximity to the Georgia World Congress Center, Centennial Olympic Park, Mercedes-Benz Stadium, State Farm Arena, the Georgia Aquarium, College Football Hall of Fame and the World of Coca-Cola.

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AcquisitionsLouisianaMultifamilySoutheast

Muss Development, Amesbury Acquire 270-Unit Apartment Community in Lake Charles, Louisiana

by John Nelson

LAKE CHARLES, LA. — Muss Development LLC and Amesbury Cos. have acquired Erdace Apartments, a 270-unit multifamily community in downtown Lake Charles. The seller and sales price were not disclosed. The co-owners assumed a HUD-insured loan as part of the acquisition and have launched a multimillion-dollar renovation of the property, which will be rebranded as The Ryan Apartments. The capital improvement program includes upgrades and redesigns of the lobby, façades, hallways and balconies. Erdace Apartments offers studio, one- and two-bedroom apartments, as well as a clubhouse, lounge, café, fitness center, business center, indoor and outdoor pavilions and a large outdoor swimming pool.

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Shops-at-Highland-Walk-Highlands-Ranch-CO
AcquisitionsColoradoRetailWestern

Shea Properties Completes $37.1M Sale of Shops at Highland Walk in Highlands Ranch, Colorado

by Amy Works

HIGHLANDS RANCH, COLO. — Shea Properties has completed the $37.1 million sale of Shops at Highland Walk, a 94,795-square-foot retail center in Highlands Ranch, located south of Denver. Regency Centers acquired the asset. Located at 4000 Red Cedar Drive, Shops at Highland Walk consists of two multi-tenant inline buildings flanking grocery anchor tenant King Soopers and four additional outparcel buildings on the perimeter. At the time of sale, the property was 98 percent leased to 17 tenants. Jon Hendrickson and Aaron Johnson of Cushman & Wakefield represented the seller in the deal.

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AcquisitionsCaliforniaRetailWestern

Marcus & Millichap Brokers $7.3M Sale of Retail Building in San Diego County

by Amy Works

ESCONDIDO, CALIF. — Marcus & Millichap has brokered the $7.3 million sale of a retail building located at 1580 W. Valley Parkway in Escondido. Dollar Tree and Big Blue Swim School fully occupy the 20,085-square-foot property on triple-net leases with rental increases during the initial lease terms and option periods. Alvin Mansour of Marcus & Millichap represented the undisclosed seller and procured the buyer in the deal. Chad O’Connor of Marcus & Millichap Capital Corp. arranged $4.7 million in acquisition financing for the undisclosed buyer.

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DevelopmentLoansMarylandMultifamilyOfficeSoutheastStudent Housing

Bayview PACE Provides $15.7M C-PACE Financing for Student Housing Conversion Project in Baltimore

by John Nelson

BALTIMORE — Bayview PACE has closed $15.7 million in C-PACE financing for Plaza Baltimore, an adaptive reuse project located at 1 S. Calvert in downtown Baltimore. The borrower, Philadelphia-based MIRA Properties, is leading the $57 million repositioning of the former bank headquarters building into 157 Class A apartments, as well as 8,162 square feet of commercial space on the ground level. Morgan State University recently announced that it will fully lease the building and operate the property for student housing. Amenities will include a rooftop deck, resident lounge, billiards, movie room and bike storage. The design-build team includes MIRA Construction, an affiliate of MIRA Properties, and locally based SETO Architects.

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IllinoisLeasing ActivityMidwestOffice

Huntington Bank Expands Chicago Office Lease to 60,900 SF

by Kristin Harlow

CHICAGO — Huntington Bank has signed a 10-year, 23,223-square-foot lease expansion at 222 N. LaSalle Street, growing its footprint to approximately 60,900 square feet at the 26-story building in downtown Chicago. Tishman Speyer owns the riverfront tower. The bank has operated at the property since 2011. Ellen May and Steve Golz internally represented Tishman Speyer, which also serves as property manager and leasing agent. Constructed in 1926, the building has recently undergone an expansive renovation program. The 1 million-square-foot tower is now 87 percent leased. All tenants have access to ZO Clubhouse, Tishman Speyer’s amenity network.

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AcquisitionsIndianaMidwestOfficeRetail

Cushman & Wakefield Brokers $12.3M Sale of Office, Retail Property in Carmel, Indiana

by Kristin Harlow

CARMEL, IND. — Cushman & Wakefield has brokered the $12.3 million sale of Monon & Main, a four-story, 34,650-square-foot office and retail property located at 211 W. Main St. in the northern Indianapolis suburb of Carmel. Situated in the Carmel Arts & Design District, Monon & Main was fully leased at the time of sale. Built in 2018, the property is comprised of 79 percent office and 21 percent retail space. Rebecca Wells of Cushman & Wakefield represented the seller, a private partnership led by the Hannum family. The buyer was a private investor.

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AcquisitionsLoansMidwestMultifamilyOhioSeniors Housing

Red Oak Capital Provides $11.1M Bridge Loan for Assisted Living Community in Dayton, Ohio

by Kristin Harlow

DAYTON, OHIO — Red Oak Capital Holdings LLC has provided $11.1 million in financing for the acquisition and capital improvements of Cottages of Clayton, a 90-unit assisted living community in Dayton. The bridge loan features an 18-month initial term and a loan-to-stabilized value of 69 percent. Stratos Athanassiades of Red Oak originated the loan, which was underwritten by Thomas Gorski and administered by James Myatt. The borrower, Clayton Realco LLC, is a private investor group that owns and operates 12 senior living communities. Built in 1999, Cottages of Clayton features seven cottage-style buildings with 90 studio units. Each building contains its own kitchen, laundry facilities and resident lounge areas. Amenities include a dining room, activity room, salon and outdoor spaces.

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DevelopmentIllinoisIndustrialMidwest

Krusinski Breaks Ground on 32,000 SF Addition for Nonprofit Food Distribution Hub in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — Krusinski Construction Co. has broken ground on a 32,000-square-foot addition to the Loaves & Fishes Community Services food distribution hub at 580 Exchange Court in Aurora. The project will expand the building to 62,000 square feet, enabling the nonprofit organization to meet the increasing needs of food-insecure individuals and families in DuPage, Kane, Kendall and Will counties. Since 2019, food insecurity in the area served by Loaves & Fishes has increased by more than 50 percent, according to a release. The expansion project will create greater storage capacity, improved distribution efficiencies and enhanced collaboration capabilities with partner pantries. Krusinski will build new and expanded freezer and cooler space, a larger depressed dock with more efficient access for deliveries by full-size semi-trucks and trailers and an improved site layout that increases parking capacity and flow. Construction will be completed in four phases and includes increasing the capacity of utilities. The project team includes Powers Brown Architecture and Cage Civil Engineering.

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