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AcquisitionsAlabamaHospitalitySoutheast

PHD Hotels Acquires 111-Room Aloft Birmingham Soho Square Hotel in Alabama

by John Nelson

HOMEWOOD, ALA. — Opelika, Ala.-based PHD Hotels Inc. has acquired Aloft Birmingham Soho Square, a 111-room hotel located at 1903 29th Ave. S in Homewood, a suburb of Birmingham. An institutional investor sold the hotel for an undisclosed price. Tim Osborne of Hunter Hotel Advisors’ Chattanooga office brokered the transaction. Aloft Birmingham Soho Square is a hospitality component within the Soho Square mixed-use campus and features meeting space, an indoor pool and a 24-hour fitness center, along with Re:fuel, a grab-and-go snack bar, and the W XYZ Bar, which offers craft cocktails and live music.

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AcquisitionsOfficeTexas

JLL Brokers Sale of 132,599 SF Office Building in West Houston Leased to BlueCross BlueShield

by Taylor Williams

HOUSTON — JLL has brokered the sale of a 132,599-square-foot office building in West Houston. Completed in 1999, the building at 8101 W. Sam Houston Parkway S was fully leased at the time of sale to BlueCross BlueShield, which recently signed an 11-year lease. Kevin McConn and Rick Goings of JLL represented the seller, an affiliate of Denver-based Sagard Real Estate, in the transaction, and procured the buyer, a partnership between Fuller Realty Partners and ICP Funds. Wally Reid and Cameron Cureton, also with JLL, arranged a five-year acquisition loan of an undisclosed amount for the deal through a regional bank.

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Leasing ActivityRetailTexas

Lumos Opens 45,000 SF Entertainment Venue in New Caney, Texas

by Taylor Williams

NEW CANEY, TEXAS — Lumos, an entertainment concept that features activities such as bowling, laser tag, axe throwing and arcade games, has opened a 45,000-square-foot venue in New Caney, a northeastern suburb of Houston. The space is located within the 1,400-acre Valley Ranch master-planned community and includes a 6,000-square-foot area for virtual reality, karaoke and private events, as well as a cocktail bar, restaurant and outdoor patio. Signorelli Co. owns Valley Ranch.

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AcquisitionsRetailTexas

STRIVE Arranges Sale of 24,000 SF Retail Property in Haltom City, Texas

by Taylor Williams

HALTOM CITY, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of a 24,000-square-foot retail property in Haltom City, located north of Fort Worth. The property is known as Haltom City Center and was fully leased at the time of sale. Will Schubert of STRIVE represented the seller and procured the buyer, both of which were local investors that requested anonymity, in the transaction.

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Miramar-Harlem
DevelopmentMultifamilyNew YorkNortheast

Partnership Begins Leasing $416M Apartment Complex in Upper Manhattan

by Taylor Williams

NEW YORK CITY — A partnership between LMXD, an affiliate of New York City-based L&M Development Partners, as well as MSquared and Taconic Partners, has begun leasing Miramar, a $416 million apartment complex located at 405-407 W. 206th St. in the Inwood area of Upper Manhattan. The development offers 698 units in studio, one- and two-bedroom floor plans, with private balconies and terraces available in select residences. About half the units are subject to income restrictions, with 40 percent (281 units) reserved as affordable housing for renters earning between 40 and 80 percent of the area median income (AMI), and another 10 percent set aside as workforce housing for households earning up to 120 percent of AMI. Indoor amenities include a fitness center with a yoga studio, coworking lounge with conference space, gaming and media lounges, two private party rooms with wet bars, a multi-sport simulator and a music studio. Outside, residents have access to terraces on both the rooftop and 11th floor that have grilling stations and private dining areas, as well as two landscaped courtyards and an indoor meditation garden on the ground floor. Of the 698 units, 417 are available for immediate occupancy, with market-rate rents starting at …

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LoansMultifamilyNew JerseyNortheast

Greystone Arranges $285.7M Loan for Refinancing of Northern New Jersey Apartment Portfolio

by Taylor Williams

NEW YORK CITY — Greystone has arranged a $285.7 million bridge loan for the refinancing of a portfolio of four apartment buildings totaling 1,018 units in Northern New Jersey. The portfolio comprises the 106-unit Meridia Village Commons in South Orange, the 212-unit Meridia Pompton Lakes, the 402-unit Meridia Linden and the 294-unit Meridia Little Ferry. Other than Meridia Village Commons, each property bears the name of the community in which it’s located. The properties, which collectively house about 30,000 square feet of retail space, were all built between 2022 and 2025. PGIM provided the loan to the borrower, New Jersey-based owner-operator Capodagli Property Co., which also recoups some additional capital under the structure of the deal.

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MultifamilyNew JerseyNortheast

NJEDA Approves $53.3M in Tax Credit Equity for Affordable Housing Project in Atlantic City

by Taylor Williams

ATLANTIC CITY, N.J. — The New Jersey Economic Development Authority (NJEDA) has approved approximately $53.3 million in tax credit equity for Garden Court Apartments in Atlantic City. A developer doing business as Garden Court AC LLC will renovate the property at 1425 McKinley Ave. to preserve the affordability status of 177 units that are housed within 20 two- and three-story buildings. The NJEDA awarded the tax credit allocation, which represents about 85 percent of the total project cost, through its Aspire program, which provides gap financing for mixed-use, transit-oriented residential developments. Gateway Community Action Partnerships is a co-applicant on the project.

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AcquisitionsNortheastPennsylvaniaRetail

Joint Venture Acquires 221,284 SF Shopping Center in Pittsburgh

by Taylor Williams

PITTSBURGH — A joint venture led by Washington, D.C.-based Carderock has acquired Caste Village, a 221,284-square-foot shopping center in the South Hills area of Pittsburgh. Grocer Giant Eagle anchors the center, which is also home to tenants such as Banfield Pet Hospital, St. Clair Health, Fitness 19 and Princess Lanes Bowling Center. The new ownership plans to upgrade the center via a revitalized gathering area, improved façade and systems and a re-tenanted former Shell gas station and recently vacated Rite Aid store. Adam Bieber of BWE arranged financing for the acquisition. The seller and sales price were not disclosed.

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AcquisitionsIndustrialNortheastPennsylvania

Colliers Brokers Sale of 106,045 SF Industrial Property in Bensalem, Pennsylvania

by Taylor Williams

BENSALEM, PA. — Colliers has brokered the sale of a 106,045-square-foot industrial property in Bensalem, a northeastern suburb of Philadelphia. The site at 1211 Ford Road spans 7.9 acres, and the facility can support both manufacturing and distribution uses. Building features include a clear height of 18 feet, 6,000 square feet of office space, 17 tailgate loading docks and five drive-in doors. Richard Gorodesky, Andy McGhee and Adam Gorodesky of Colliers represented the seller, Faropoint, in the transaction. The buyer was UniCup International. The sales price was not disclosed.

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Lincoln-Park303-Glendale-AZ
AcquisitionsArizonaIndustrialWestern

Dollar Tree Enters Metro Phoenix Industrial Market with 1.3 MSF Acquisition from Lincoln

by Amy Works

GLENDALE, ARIZ. — Lincoln Property Co. has completed the sale of a 1.25 million-square-foot industrial building in Glendale, Ariz., to Dollar Tree for $147.1 million. Park303 totals 210 acres and 3.75 million square feet of industrial space. Built in two phases, Park303 features a 1.25 million-square-foot single-building Phase 1 and a 2.5 million-square-foot, three-building Phase 2. Dollar Tree purchased Park303 Phase 2 Building C to establish the company’s first regional distribution facility in the metro Phoenix market. Dollar Tree currently operates more than 9,000 stores and 18 distribution centers, employing approximately 150,000 associates across the United States and Canada. All Park303 Phase 2 buildings are LEED-certified and Foreign Trade Zone capable with 40-foot clear heights, 25-foot tall glass entries, up to 12,000 amps of power, 7-inch slab over 4-inch crushed rock and steel moment frame shear bracing supporting automated racking and picking equipment. Together the buildings offer 430 dock doors, 778 trailer stalls and more than 1,556 parking stalls. Park303 amenities include speculative office space, an outdoor pickleball and basketball court and an outdoor entertainment area with barbecues, overhead fans and seating. Lincoln serves as the property manager and leasing agent for Park303. Reid Wilbraham and Cooper Fratt of Cushman & …

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