FORT WORTH, TEXAS — NWA Recycling has signed a 17,896-square-foot industrial lease in southeast Fort Worth. The space is located along Fairlane Avenue, although the address was not disclosed. Walker Floyd and Patrick Kelley of Holt Lunsford Commercial represented the tenant in the lease negotiations. Finn Wilson of LanCarte Commercial represented the landlord, Faropoint.
NEW YORK CITY — A partnership between Apex Building Group and L+M Development Partners has received $217 million in construction financing for a new affordable housing project in Brooklyn. The project represents Phase III of a larger, 27-acre project known as Alafia, which is a redevelopment of the former site of the Brooklyn Developmental Center. Phase III will comprise 273 units that will be reserved for households earning 70 percent or less of the area median income. Phase III will also involve construction of a one-acre public park with a fitness loop, children’s play area and residential courtyards. Redstone Bank provided a construction loan as part of the financing package, which also includes federal and state tax credit equity, among other subsidies. Phase III construction is expected to be complete in 2029.
MIAMI — JLL Capital Markets has arranged a $111 million construction loan for the development of Sense22, a 328-unit multifamily project located in Miami’s Edgewater neighborhood. Max La Cava and Pier Barinci of JLL secured the three-year loan through S3 Capital on behalf of the borrower, HA Emprendimientos, a real estate development and construction company based in Buenos Aires, Argentina. JLL also previously secured the land and predevelopment loan for the property in 2025. The project is slated for completion in 2028. Sense22 will comprise 36 stories and will offer a mix of studios, one- and two-bedroom apartments. Amenities will include a resort-style swimming pool deck, a furnished rooftop terrace with outdoor grilling areas, spa, a fitness center and coworking spaces, along with 372 parking spaces.
ORLANDO AND DAVENPORT, FLA. — Berkadia has secured a combined $85.4 million for the refinancing of two Orlando-area multifamily communities. Matt Robbins, Mitch Sinberg, Brad Williamson, Scott Wadler and Hugo Hernandez of Berkadia arranged the financing through Walton Street Capital on behalf of the borrower, Boston-based Taurus Investment Holdings. The first property, known as The Summit at MetroWest, is located at 6500 Metrowest Blvd., and features 280 multifamily apartments with a mix of one-, two- and three-bedroom floorplans. Amenities include a swimming pool, game room, sun deck, golf course, a grilling and picnic area and a dog park, according to Apartments.com. The second property, named The Legends at ChampionsGate, is situated at 8101 Champions Circle in Davenport and comprises 252 apartments in one- to four-bedroom configurations. Amenities include a clubhouse, business center, swimming pool, fitness center, playground, sun deck, cabana and grills.
LOUISVILLE, KY. — A joint venture between Four Mile Capital and Midloch Investment Partners has acquired Frontgate Apartments, a 212-unit complex located in Louisville, for $38.3 million. Four Mile assumed an existing fixed-rate HUD loan on the property valued at approximately $27 million. The seller was not disclosed. Built in 2020, Frontgate Apartments offers a mix of one-, two- and three-bedroom floorplans, with an average size of 1,125 square feet. Amenities include a clubhouse, resort-style swimming pool, 24-hour fitness center and a dedicated dog park and dog spa. Four Mile plans to improve the property by installing washers and dryers in every unit and offering community-wide internet service, as well as improving leasing and overall operations. Four Mile will manage Frontgate through its affiliate Kalos Residential, which also manages the firm’s neighboring community, Avalon Springs.
SAVANNAH, GA. — Madison Commercial, an affiliate of Madison Capital Group, has completed the sale of a Chick-fil-A outparcel at its mixed-use redevelopment of the former Sears and Sears Auto Center site at Oglethorpe Mall in Savannah. The transaction marks the final piece of the company’s retail component at the mixed-use development. Along with Chick-fil-A, Madison Commercial has leased and sold all three retail outparcels at the property, including Jim ‘N Nick’s Bar-B-Q and Valvoline Instant Oil Change. The outparcels are situated adjacent to Oglethorpe Mall and Madison Oaks, a new multifamily community developed by Madison Communities on the site of the former Sears anchor store. Madison Oaks opened early this year. Madison Commercial and Savannah-based engineering firm Thomas & Hutton collaborated throughout the planning, engineering and entitlement process to deliver the final retail component. Oglethorpe Mall features several restaurants, a food court and more than 120 stores. Tenants include American Eagle Outfitters, Barnes & Noble, Bath & Body Works, Belk, Claire’s, Cold Stone Creamery, Crunch Fitness, DSW Shoes, Foot Locker, Great American Cookies, H&M, JCPenney, Macy’s and Savannah Sweets, among others.
MOUNT LEBANON, PA. — Washington D.C.-based Roadside Development has acquired the Galleria at Mount Lebanon, a 168,000-square-foot shopping center located just outside of Pittsburgh. Originally constructed as a Kaufmann’s department store and converted to an indoor mall in 1988, the two-story center is home to tenants such as Anthropologie, Pottery Barn, Mitchell’s Fish Market, Panera Bread and AMC Theatres. The seller and sales price were not disclosed.
TINTON FALLS, N.J. — Colliers has brokered the sale of the former Red Bank Veterinary Hospital building, located at 197 Hance Ave. in the Central New Jersey community of Tinton Falls. According to LoopNet Inc., the building was constructed in 2004 and totals 40,185 square feet. Jacklene Chesler, Patrick Norris and Brittany Leventoff of Colliers represented the seller and procured the buyer in the transaction, which was executed via auction platform Ten-X. Both parties requested anonymity.
NEW YORK CITY — Ralph Lauren has signed a 22,000-square-foot office lease expansion in Manhattan’s West Chelsea district. The lease term is 13 years, and the fashion designer now occupies 280,000 square feet across portions of four different floors within the building at 601 W. 26th St., which is known locally as the Starrett-Lehigh Building. Eric Deutsch of CBRE represented the tenant in the lease negotiations. Daniel Birney and Denise Rivera represented the landlord, RXR, on an internal basis.
SEATTLE AND REDMOND, WASH. — Goodman Real Estate has sold two multifamily properties near Seattle for a combined total of $172 million. Eli Hanacek, Kyle Yamamoto and Natalie Kasper of CBRE represented the Seattle-based seller in both transactions. Each property was developed in 2024 and sold to undisclosed buyers. CRU at Willows 124 in Redmond traded for $94 million. The 195-unit, six-story building sits on 1.6 acres within a master-planned community adjacent to Willows Run Golf Club and includes 22,998 square feet of fully leased commercial space across three suites. The property features a mix of studio, one- and two-bedroom floor plans along with a rooftop terrace, three clubhouses, fitness center, two work-from-home lounges and a basketball court. Baldwyn Apartments is a 235-unit property located at 10712 5th Ave. NE in Seattle’s Northgate neighborhood, adjacent to the site of Simon Property Group’s Northgate Station redevelopment. Northgate Station is a 55-acre mixed-use project that includes the Kraken Community Iceplex and additional retail spaces that will be opening through 2028.