CANTON, MISS. — Hodges Ward Elliott has brokered the sale of an 80-room Hampton Inn hotel located in Canton, about 30 miles north of Jackson, Miss. B.J. Patel, Clint Hodges and Michael Brandes of Hodges Ward Elliott represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed. Built in 2004 along I-55, the Hampton Inn Canton hotel features a business center, outdoor pool, fitness center, complimentary breakfast and connecting rooms.
PEACHTREE CITY, GA. — Northmarq has arranged the $3.3 million sale of Governor’s Walk, a 21,280-square-foot shopping center located at 1980 GA Highway 54 in Peachtree City. The property was fully leased at the time of sale to Car Wash, Donut Shop, Peachtree Pawn, Fresh Smoothie Café, Mary Nails, Curves, Carolina Hemp Co., Southern Crescent Spa, Peachtree Wax Studio, La Plaza R&R Inc., Flooring Store, Men’s World Barber, Rene’e Paige Salon and M&R Alterations. Jeff Enck of Northmarq represented the Florida-based seller in the transaction, as well as the California-based 1031 exchange buyer.
SAN RAMON, CALIF. — Belmont Village Senior Living, in partnership with Sunset Development, has broken ground on Belmont Village San Ramon. Located at 6151 Bollinger Canyon Road within the Bishop Ranch neighborhood of San Ramon, the 175,320-square-foot community will feature a heated saltwater pool, putting green, farm-to-table gardening areas, al fresco dining, outdoor yoga lawn and group fitness space, and a dog park. Slated for completion by fall 2024, Belmont Village San Ramon will feature 177 studio, one- and two-bedroom residences for independent living, assisted living and memory care needs. The property will offer residents concierge and transportation services, valet parking, onsite physiotherapy, a fitness center, art studio, screening room, club lounge, full-service salon and spa, personal wine storage and multiple dining venues. Aron Will, Tim Root and Michael Cregan of CBRE National Senior Housing secured the non-recourse construction financing for the project on behalf of a joint venture between Belmont Village Senior Living and Harrison Street Real Estate Capital. The project team includes W.E. O’Neil Construction and HKIT Architecture.
YUMA, ARIZ. — Panattoni Development has unveiled plans to develop a 1 million-square-foot industrial park at 36th Street and South Avenue 4E in Yuma. The initial phase of Panattoni’s Yuma Industrial Park is slated to include four buildings ranging from 234,000 square feet to 279,000 square feet each. The buildings will feature two grade-level doors, 49 rear-load, dock-high doors and 32-foot clear heights.
GOLDEN, COLO. — JLL Capital Markets has arranged a $31.2 million refinancing for Epoque Golden, an apartment property at 1175 Newstar Way in Golden. Eric Tupler and Tony Nargi of JLL Capital Markets secured the five-year, fixed-rate loan through Freddie Mac Multifamily for the borrower team, including Forum Real Estate Group. JLL Real Estate Capital, a Freddie Mac Optigo lender, will service the loan. Constructed in 2019, Epoque Golden features 120 studio, one-, two- and three-bedroom apartments with open-concept floor plans, quartz countertops, full-size washers/dryers, private balconies and walk-in closets. Community amenities include a resort-style swimming pool, fitness center with outdoor yoga terrace, landscaped courtyard with fire pits and grilling area, a speakeasy, private dining room, work-from-home space, electric vehicle charging station and golf and ski storage.
GREEN VALLEY, ARIZ. — Northmarq has arranged the sale of Sahuarita Mission, a multifamily community located at 1091 W. Beta St. in Green Valley. Sahuarita Mission Owner LLC (FSO Capital Partners) sold the asset to Cypress, Calif.-based WNC Apartment Ventures for $8.8 million, or $169,231 per unit. Built in 2000, Sahuarita Mission is an affordable multifamily community with four two- and three-story buildings on 2.9 acres. The fully occupied property features 52 two- and three-bedroom units, ranging in size from 822 square feet to 1,013 square feet, with walk-in closets, balcony or patio, plush carpet and automatic dishwashers. Community amenities include a clubhouse, children’s playground, picnic area with grill, laundry facilities and on-site leasing office. Trevor Koskovich, Jesse Hudson, Ryan Boyle and Logan Baca of Northmarq Phoenix’s investment sales team represented the seller in the deal. Bryan Mummaw, Bryan Liu, Brandon Harrington, Christopher Gitibin, Brad Burns and Tyler Woodard of Northmarq’s debt and equity team secured a $5.9 million loan for the buyer through Northmarq’s relationship with Freddie Mac.
CHULA VISTA, CALIF. — PSRS has secured a $16.3 million non-recourse loan for the refinancing of a 43,471-square-foot retail space at Eastlake Village Center in Chula Vista. James Mulvihill and Kevin Mulvihill of PSRS arranged the loan, which a life insurance company provided. PSRS will service the mortgage as part of its $6.6 billion loan serving portfolio.
ST. PETERS, MO. — GBT Realty Corp. has sold The Shoppes of Mid Rivers in the St. Louis suburb of St. Peters for $40.7 million. The 270,000-square-foot shopping center, located at the intersection of I-70 and Mid Rivers Mall Drive, was completed in 2018. Amy Sands, Clinton Mitchell and Michael Nieder of JLL represented GBT in the sale to Jenel Real Estate. With a recent lease signing by Old Navy for 15,000 square feet, The Shoppes at Mid Rivers is 99 percent leased. Additional tenants include Burlington, Academy Sports, HomeGoods, Marshalls, Ross Dress for Less, Ulta Beauty and Five Below. Restaurant tenants include Cooper’s Hawk Winery & Restaurant, Outback Steakhouse, Pappy’s Smokehouse and Gulf Shores Restaurant & Grill.
BRISTOL, WIS. — Peak Construction Corp. is underway on Building 4 within Bristol Business Park in Bristol, a city in Southeast Wisconsin. Janko Group is the developer. Peak completed construction of Buildings 2 and 3 in 2022. The industrial business park totals 225 acres and is fully entitled for up to 3 million square feet of development. So far, 2.4 million square feet is completed or under construction, of which 1.7 million square feet is leased. Constructed on a speculative basis, Building 4 will total 157,043 square feet and feature a clear height of 32 feet, 24 docks, two drive-in doors, 212 car parking spaces and a build-to-suit office space. Kelly P. Harris is the architect, Manhard Consulting is the civil engineer and Cushman & Wakefield is the leasing agent. Completion is slated for the third quarter of this year.
CHICAGO — Bellwether Enterprise Real Estate Capital (BWE) has arranged a $28.8 million loan for the refinancing of an assisted living and memory care community in metro Chicago. The borrowers were affiliates of a seniors housing-focused private equity firm. Ryan Stoll and Taylor Mokris of BWE arranged the loan through a regional bank with a national focus on seniors housing. The four-year loan features a 30-year amortization schedule.
