Property Type

AHS Residential Receives $46.5M Loan for Multifamily Development in Metro Atlanta

by Julia Sanders August 9, 2021

DOUGLASVILLE, GA. — AHS Residential has obtained construction financing for AHS Tributary, a 433-unit mixed-use residential community located in Douglasville, a suburb approximately 20 miles west of Atlanta. PNC Bank provided the $46.5 million construction loan to AHS Residential, which broke ground on the project in late June. The community is slated for a first-quarter 2023 delivery. AHS Tributary will offer studio, one- and two-bedroom floor plans in seven five-story buildings. Apartments will feature stainless steel appliances and in-unit laundry. Community amenities include assigned parking, a business center and a multipurpose clubhouse featuring a swimming pool and fitness center. In addition, the community will feature a two-story, 22,000-square-foot commercial building with a 9,000-square-foot retail space on the first floor and 13 one-bedroom lofts available for lease on the second floor. The property will also include a 5,000-square-foot freestanding retail building.

August 9, 2021

Development Florida Industrial Southeast

Seefried Industrial Properties to Develop 1.1 MSF Building in Port St. Lucie, Florida

by Julia Sanders August 9, 2021

PORT ST. LUCIE, FLA. — Seefried Industrial Properties is developing a 1.1 million-square-foot build-to-suit warehouse facility in Port St. Lucie for Amazon. The project, which is dubbed Project Midway, is being constructed on 110 acres at Midway Business Park along West Midway Road near Interstate 95. The property will feature tilt-up concrete wall panels, a little over 1 million square feet of warehouse space, 32,457 square feet of office and social space, 1,000 employee parking spaces and 390 trailer stalls. Amazon says the company will hire around 500 full-time employees at its new location, according to the Commercial Observer. Construction is expected to begin late fall 2021 with completion slated for summer 2022. The Conlan Co. is serving as general contractor, Ford & Associates is the architect and Kimley-Horn is the civil engineer for Project Midway.

August 9, 2021

Florida Leasing Activity Retail Southeast

Five New Retailers to Join Tenant Lineup at CocoWalk Shopping Center in Miami

by Julia Sanders August 9, 2021

MIAMI — Federal Realty Investment Trust, The Comras Co. and Grass River Property have signed five new retailers to join the tenant lineup at CocoWalk, a mixed-use shopping center in the Coconut Grove neighborhood of Miami. CocoWalk’s newest retailers include GlossLab, a membership-based nail studio based in New York that is set to open in summer 2022; Antidote Wellness Labs, a boutique fitness studio; Gas Bijoux, a jewelry brand based in Saint-Tropez; Skin Lab by Barba Skin Clinic; and 3D Brow Studio, which is a salon concept specializing in curating eyebrows. Antidote Wellness Labs will occupy about 2,577 square feet on the second floor of CocoWalk, the Barba Skin Clinic will span 2,181 square feet and 3D Brow Studio will occupy 1,062 square feet. Gas Bijoux will be located on the first floor with 562 square feet facing the open-air plaza, and GlossLab will take up a 1,349-square-foot space. In addition, Botanico Gin & Cookhouse is slated to open at CocoWalk later this summer, and Sushi Garage is expected to open this fall. CocoWalk will feature 150,000 square feet of retail space and include local, national and international restaurants and retailers such as Planta, Mister 01 Extraordinary, Salt & Straw, …

August 9, 2021

Development Florida Loans Multifamily Single-Family Rental Southeast

George Smith Secures $26M Construction Loan for SFR Project in Fort Myers, Florida

by Julia Sanders August 9, 2021

FORT MYERS, FLA. — George Smith Partners has secured a $26 million construction loan for a new 130 single-family rental development in Fort Myers. Ed Steffelin, Evan Kinne, Jonathan Lee, Shahin Yazdi and Paul Monsen of George Smith Partners secured the financing on behalf of the developer, Soltura Development Group. The entire project is slated for completion by the end of 2022. The new development will be a part of The Forum, a 706-acre master planned community adjacent to Top Golf and located on the eastern side of Fort Myers. The community features restaurants, retail, office, medical, assisted living and residential communities. George Smith Partners secured the construction debt at a 70 percent loan-to-cost ratio. A Kansas-based bank, Equity Bank, provided the loan. Soltura is a Naples, Fla.-based real estate development company that focuses on residential, hospitality, restaurants/bars and commercial projects. George Smith Partners is a Los Angeles-based provider of capital market advisory services to the commercial real estate industry. The firm specializes in arranging financing for commercial and multifamily properties, including acquisition, construction, bridge and permanent loans.

August 9, 2021

Affordable Housing Loans Louisiana Multifamily Southeast

Hunt Capital Invests $8.8M in LIHTC, Historic Tax Credit Equity for Affordable Housing Project in Monroe, Louisiana

by Julia Sanders August 9, 2021

MONROE, LA. — Hunt Capital Partners has invested $8.8 million in construction financing to fund the redevelopment of the Miller-Roy Building in Monroe. The investment includes $6.4 million in Low Income Housing Tax Credit (LIHTC) equity and $2.4 million in state and federal Historic Tax Credit equity. The project will also include the construction of multifamily housing units in a newly built property known as Bayou Savoy Building. Michael Echols Enterprises is the developer for the project. Built in 1929, the historic three-story Miller-Roy Building will be reimagined to feature two studio apartments and 16 one-bedroom units, as well as 3,851 square feet of commercial space on the first floor. The Miller-Roy Building used to be the office for one of the first African American newspapers in the South, and was home to many African American-owned businesses at the time. The newly constructed Bayou Savoy Building will span four stories and comprise 48 two-bedroom units. The property will allow a range of incomes for leasing from 20 percent of area median income up to 80 percent, and 14 units will be in the workforce housing range. Project-based rental assistance will be provided for 24 of the 66 LIHTC units, and …

August 9, 2021

Acquisitions Industrial Texas

JLL Negotiates Sale of 289,225 SF Industrial Portfolio in Dallas-Fort Worth Area

by Taylor Williams August 9, 2021

DALLAS — JLL has negotiated the sale of a portfolio of six shallow-bay industrial properties totaling 289,225 square feet that are located throughout various markets in the Dallas-Fort Worth (DFW) metroplex. Dallas is home to three of the buildings, and the markets of Fort Worth, Arlington and Grand Prairie house one building apiece. The portfolio spans a combined 21.5 acres, was 82 percent leased at the time of sale and features an average office finish of 18 percent. Dustin Volz, Stephen Bailey and Matthew Barge of JLL represented the seller, Dallas-based CanTex Capital, in the transaction. John Chun, Peter Thompson, Jarrod McCabe, Samuel Godfrey and Jordan Leake of JLL arranged a three-year, floating-rate acquisition loan through Bridge Investment Group on behalf of the borrower, The Bendetti Co., an investment firm based in Southern California.

August 9, 2021

Loans Multifamily Northmarq Texas

NorthMarq Arranges Loan for Refinancing of 338-Unit Apartment Community in South Houston

by Taylor Williams August 9, 2021

HOUSTON — NorthMarq has arranged a loan of an undisclosed amount for the refinancing of Orleans at Fannin Station, a 338-unit apartment community located south of downtown Houston. The Class A property features one- and two-bedroom units and amenities such as a pool with cabanas, social lounge with a catering kitchen, clubroom with a flat-screen TV, package lockers with refrigeration capabilities and an internet café. John Burke of NorthMarq arranged the fixed-rate loan, which carried a 20-year term with five years of interest-only payments followed by a 30-year amortization schedule, through an undisclosed life insurance company. The borrower was also not disclosed.

August 9, 2021

Acquisitions Multifamily Texas

TMG Negotiates Sale of 178-Unit Apartment Complex in Killeen, Texas

by Taylor Williams August 9, 2021

KILLEEN, TEXAS — The Multifamily Group (TMG), a Dallas-based investment brokerage firm, has negotiated the sale of Century Oaks, a 178-unit apartment complex located in the Central Texas city of Killeen. The property was originally built in the late 1970s and features an average unit size of 695 square feet. According to Apartments.com, Century Oaks also offers one-, two- and three-bedroom units and amenities such as a picnic area, pet play area and onsite laundry facilities. Paul Yazbeck of TMG represented the seller, and Zach Weik of TMG and procured the buyer in the transaction.

August 9, 2021

Loans Lument Multifamily Texas

Lument Provides $13.9M Acquisition Loan for Fort Worth Multifamily Property

by Taylor Williams August 9, 2021

FORT WORTH, TEXAS — Lument has provided a $13.9 million bridge loan for the acquisition of Saddlehorn Vista, a 192-unit multifamily community located about 10 miles west of downtown in Fort Worth. Built in 1985, the garden-style property consists of 96 one-bedroom units, 80 two-bedroom residences and 16 three-bedroom apartments. John Sloot and Colin Cross of Lument originated the loan, and John Brickson of Old Capital Lending arranged the debt. The undisclosed borrower will use a portion of the proceeds to fund capital improvements. Saddlehorn Vista was 98 percent occupied at the time of the loan closing.

August 9, 2021

Leasing Activity Office Texas

Multiview Signs 82,093 SF Office Lease Renewal in Irving’s Las Colinas District

by Taylor Williams August 9, 2021

IRVING, TEXAS — Multiview, a national business-to-business (b2b) marketing firm, has signed an 82,093-square-foot office lease renewal at One Panorama Center in Irving’s Las Colinas district. The building spans 208,448 square feet, rises eight stories and offers amenities such as a newly renovated lobby, new fitness center and an outdoor lounge. Robert Blount and Scott Hage of JLL represented the tenant in the lease negotiations. Nathan Durham of Transwestern represented the landlord, Los Angeles-based Regent Properties.

August 9, 2021

Newer Posts

Older Posts