Property Type

Wood Partners Breaks Ground on 378-Unit Multifamily Project in North Houston

by Taylor Williams February 13, 2023

HOUSTON — Atlanta-based developer Wood Partners has broken ground on Alta Sunset Heights, a 378-unit multifamily project in North Houston. Units will come in one- and two-bedroom formats and will be furnished with stainless steel appliances, granite countertops and individual washers and dryers. Amenities will include a pool, fitness center, business center, outdoor kitchen and a dog park. German private equity firm EuroInvestor contributed an undisclosed amount of equity to finance the project. Preleasing will begin in December, with full completion slated for early 2024.

February 13, 2023

Build-to-Rent Development Single-Family Rental Texas

AHV Communities Completes 142-Unit Single-Family Rental Project in Northwest San Antonio

by Taylor Williams February 13, 2023

SAN ANTONIO — Locally based developer AHV Communities has completed Farm Haus, a 142-unit single-family rental project in northwest San Antonio. The development’s two-story duplexes are available in two-, three- and four-bedroom homes that range in size from 1,134 to 1,645 square feet. Homes also include private garages and fenced yards. Amenities include a pool, fitness center, community kitchen, bocce courts, dog park and walking trails. Rents start at $2,070 per month.

February 13, 2023

Acquisitions Retail Texas

Hanley Investment Group Negotiates Sale of 42,800 SF Shopping Center in Metro Houston

by Taylor Williams February 13, 2023

SPRING, TEXAS — California-based brokerage firm Hanley Investment Group has negotiated the sale of Stables Town Center I, a 42,800-square-foot shopping center located in the northern Houston suburb of Spring. Walgreens anchors the center, which was built in 2001 and was 53 percent leased at the time of sale. Kevin Fryman of Hanley Investment Group, in conjunction with ParaSell Inc., represented the undisclosed seller in the deal. Houston-based Wu Properties purchased the asset for an undisclosed price.

February 13, 2023

Acquisitions Retail Texas

STRIVE Arranges Sale of 8,600 SF Retail Strip Center in Plano

by Taylor Williams February 13, 2023

PLANO, TEXAS — Locally based brokerage firm STRIVE has arranged the sale of Jupiter Plaza, an 8,600-square-foot retail strip center located on the northern outskirts of Dallas in Plano. At the time of sale, Jupiter Plaza was fully leased to tenants such as Taqueria Los Angeles, Nancy’s Beauty Salon and Chuck’s Barber Shop. Hudson Lambert of STRIVE represented the California-based seller and procured the Dallas-based buyer in the transaction. Both parties requested anonymity.

February 13, 2023

Development Industrial Kentucky Southeast

LioChem to Develop $104.4M Manufacturing Facility in Franklin, Kentucky

by John Nelson February 13, 2023

FRANKLIN, KY. — LioChem e-Materials LLC, a subsidiary of Toyo Ink SC Holdings Co. Ltd., will develop a new speculative manufacturing facility at 310 Ronnie Clark Drive in Franklin’s Interstate Industrial Park. Hal Johnson, Jamie Newell and Tak O’Haru of NAI Ready represented LioChem in the site selection and purchase of 26 acres for the project. The facility, which is projected to create 141 jobs, will produce carbon nanotube (CNT) dispersions — the cathode conductive material used to enhance the performance of lithium-ion batteries — for use in electric vehicles.

February 13, 2023

Loans Multifamily North Carolina South Carolina Southeast Tennessee

Berkadia Arranges Equity for Three Southeast Apartment Communities Totaling 875 Units

by John Nelson February 13, 2023

NEW YORK CITY — Berkadia has arranged programmatic equity on behalf of The Sterling Group for the recapitalization of three apartment communities in the Southeast. Cody Kirkpatrick, Noam Franklin and Chinmay Bhatt of Berkadia JV Equity & Structured Capital secured the undisclosed amount of financing through a global institutional investor. Properties included in Sterling’s recapitalization include Wellsley Park at Deane Hill in Knoxville, Tenn.; Apartments @ Eleven240 in Charlotte, N.C.; and Enclave at Bailes Ridge in Indian Land, S.C. The communities comprise 358, 271 and 246 units, respectively.

February 13, 2023

Development Seniors Housing Southeast Virginia

Northmarq Facilitates $38.1M Construction Financing for Seniors Housing Project in Metro Richmond

by John Nelson February 13, 2023

MIDLOTHIAN, VA. — Northmarq has arranged a $38.1 million construction loan for the development of Lake Forest at Swift Creek, a 176-unit seniors housing project at 5950 Harbour Lane in Midlothian, roughly 15 miles outside of Richmond. The borrower, The Holladay Corp., is developing the community, which will comprise one building on 11.7 acres that is designed for active adults ages 55 and older. Keith Wells, Hunter Wood, Reina Abboud and Mike Lowry of Northmarq’s Richmond office secured the financing through Sandy Spring Bank. Delivery is scheduled for 2024.

February 13, 2023

Acquisitions Healthcare Loans South Carolina Southeast

Montecito Medical Receives $31.2M Acquisition Financing for Healthcare Property in Columbia

by John Nelson February 13, 2023

COLUMBIA, S.C. — Montecito Medical Real Estate has received a $31.2 million loan for the acquisition of a cancer treatment center located in Columbia. First Citizens Bank’s Healthcare Finance group, part of the CIT division, provided the financing. The facility is currently leased to South Carolina Oncology Associates (SCOA).

February 13, 2023

Acquisitions Retail Southeast Virginia

Cushman & Wakefield | Thalhimer Brokers $4.8M Sale of Roanoke Shopping Center

by John Nelson February 13, 2023

ROANOKE, VA. — Cushman & Wakefield | Thalhimer has brokered the sale of Oak Grove Plaza, a nearly 50,000-square-foot shopping center located at 2061 Electric Road in Roanoke. An entity doing business as Omma Management LLC purchased the property for $4.8 million. William Poe and Payal Shah of Cushman & Wakefield | Thalhimer represented the undisclosed seller in the transaction.

February 13, 2023

Affordable Housing Development Loans Multifamily New York Northeast

Wells Fargo Provides $288M in Financing for Manhattan Affordable Housing Project

by Taylor Williams February 13, 2023

NEW YORK CITY — Wells Fargo has provided $288 million in financing for North Cove, a 611-unit affordable housing project in Manhattan’s Inwood neighborhood. The financing includes $155 million in debt that backs city-issued, tax-exempt bonds, as well as $133 million in equity that was generated through the purchase of tax credits. The borrower and developer is a partnership between Joy Construction Corp. and Maddd Equities. Units will be restricted to households earning between 27 and 110 percent of the area median income, and roughly 15 percent (94) of the residences will be reserved for formerly homeless residents. The development will include 60,000 square feet of commercial space and offer amenities such as outdoor picnic areas, community recreation rooms and various supportive services. Lastly, as part of the project, the city has donated an adjacent parcel for the construction of a waterfront park.

February 13, 2023

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