Wednesday, July 9, 2025
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DLP Jonesboro
AcquisitionsAffordable HousingArkansasMultifamilySoutheast

DLP Capital Acquires 200-Unit Affordable Housing Community in Jonesboro, Arkansas

by Julia Sanders

JONESBORO, ARK. — DLP Capital has acquired Stadium Place, a 200-unit affordable housing property located in Jonesboro. The addition of the community increases the number of DLP Capital-owned apartment homes in the greater Memphis area to 568 units. The sales price and seller were not disclosed. The buyer plans to rebrand the property as DLP Jonesboro. Built in 2000, DLP Jonesboro includes one-, two- and three-bedroom units across 10 buildings. Community amenities include a swimming pool, fitness center, playground, picnic areas and a basketball court. DLP Capital plan to make external and internal renovations and improvements throughout the community, including maintenance on HVAC systems, landscaping and drainage and replacing the roofs. Located at 3719 Stadium Blvd., the property is located near downtown Jonesboro’s major retail centers and restaurants and about 1.6 miles from Arkansas State University. The property is close to major highway routes and is about 70.6 miles from Memphis.

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Abode
DevelopmentMultifamilyNorth CarolinaSoutheast

PCCP, Abode to Develop Three Built-to-Rent Residential Communities Near Downtown Raleigh

by Julia Sanders

RALEIGH, N.C. — PCCP LLC, in a joint venture with Abode Communities LLC, plans to develop three build-to-rent (BTR) communities near downtown Raleigh totaling 73 detached homes. The three infill communities will include a mix of single-family homes and townhomes, complete with a variety of neighborhood amenities. The three properties will be located within a half-mile from Raleigh’s central business district. The joint venture closed on its first site, Abode at Hargett, in August of this year. The two companies expect to acquire the remaining two sites — Abode at Courtland in Raleigh’s Mordecai District and Abode at North State in the city’s historic Oakwood district — by the beginning of 2022. Abode Communities is an operator of BTR and SFR communities and is based in Raleigh. PCCP is a real estate finance and investment management firm based in Los Angeles.

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4600-Ross-Dallas
AcquisitionsMultifamilyTexas

Buchanan Street Acquires 294-Unit Apartment Community in Dallas Arts District

by Taylor Williams

DALLAS — California-based investment firm Buchanan Street Partners has acquired 4600 Ross, a 294-unit apartment community located in the Dallas Arts District. Built in 2020, the property’s unit mix consists of 51 studios, 166 one-bedroom units and 72 two-bedroom apartments, as well as five three-bedroom townhomes. Amenities include a pool, fitness center, sky lounge, pet park and a package locker system. The property was 95 percent occupied at the time of sale. The seller and sales price were not disclosed.

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LoansLumentMultifamilyTexas

Lument Provides $32.3M Acquisition Loan for Metro Houston Multifamily Community

by Taylor Williams

PORTER, TEXAS — Lument has provided a $32.3 million bridge loan for the acquisition of Villas at Valley Ranch, a 312-unit apartment community located in the northeastern Houston suburb of Porter. Units feature one- and two-bedroom floor plans, and amenities include a pool, clubhouse, fitness center, conference room and a theater room. The loan carried a fixed interest rate and a three-year term. The borrower, San Antonio-based investment firm LYND Co., will use a portion of the proceeds to fund capital improvements. Marc Suarez of Lument led the transaction.

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AcquisitionsIndustrialNAITexas

NAI Partners Brokers Sale of 30,000 SF Industrial Building in North Houston

by Taylor Williams

HOUSTON — NAI Partners has brokered the sale of a 30,000-square-foot industrial building within International Crossing Business Park in North Houston. The four-building development totals 90,750 square feet. Clay Pritchett and Zane Carman of NAI Partners represented the seller, TNRG Development, which has now sold all four buildings in the park, in the transaction. The name and representative of the buyer were not disclosed.

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475-Clermont-Brooklyn
LoansMultifamilyNew YorkNortheast

MetLife Provides $143.1M Loan for Refinancing of Brooklyn Multifamily Property

by Taylor Williams

NEW YORK CITY — MetLife Investments & Management has provided a $143.1 million loan for the refinancing of 475 Clermont, a 363-unit multifamily property in Brooklyn. The 12-story building includes 33,000 square feet of retail space and 45,000 square feet of parking. Units feature individual washers and dryers, stainless steel appliances and private terraces/balconies. Amenities include a fitness center, business center, children’s play area, landscaped courtyard with artwork and a theater room. Drew Fletcher and Matthew Hirsch of Greystone arranged the debt, which was structured with a 10-year term and a fixed interest rate. The borrower was New York City-based RXR Realty.

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IndustrialLoansNew JerseyNortheast

JLL Arranges $14.3M in Financing for New Jersey Industrial Portfolio

by Taylor Williams

EDISON, N.J. — JLL has arranged $14.3 million in financing for a portfolio of industrial buildings totaling approximately 430,000 square feet within Raritan Center Business Park in the Northern New Jersey community of Edison. The buildings were constructed between 1980 and 1991 and were 99 percent leased to a roster of 20 tenants at the time of sale. Michael Klein and Max Custer of JLL arranged three fixed-rate loans through an undisclosed life insurance company to retire existing debt on the properties and fund tenant improvements. The borrower was Summit Associates Inc.

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AcquisitionsMassachusettsNortheastRetail

Marcus & Millichap Brokers $9.7M Sale of Retail Asset Leased to Lowe’s in Abington, Massachusetts

by Taylor Williams

ABINGTON, MASS. — Marcus & Millichap has brokered the $9.7 million sale of a 102,000-square-foot retail asset located at 400 Bedford St. in Abington, located south of Boston. The property is leased to Lowe’s Home Improvement. Jim Koury and Alex Quinn of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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MidwestRetailWisconsin

Kohl’s Plans to Hire 90,000 Seasonal Associates

by Kristin Harlow

MENOMONEE FALLS, WIS. — Kohl’s says it is looking to add approximately 90,000 seasonal associates to meet demand and support company growth, including staff for its newly opened e-commerce fulfillment center in Etna, Ohio; four new stores opening this fall; and beauty associates for the all-new Sephora at Kohl’s experience in 200 stores. New this year, hourly store, distribution center and e-commerce fulfillment center associates will be eligible to receive a bonus ranging from $100 to $400 for working with Kohl’s through the holiday season. The Menomonee falls-based retailer will host two upcoming national hiring events. Kohl’s operates more than 1,100 stores in 49 states.

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Affordable HousingDevelopmentMichiganMidwestMultifamily

Woda Cooper Opens $11M Affordable Housing Project in Grand Rapids

by Kristin Harlow

GRAND RAPIDS, MICH. — Woda Cooper Cos. Inc. has opened an $11 million affordable housing project named Seven45 Stocking Apartments at 745 Stocking Ave. in Grand Rapids. Residents must earn between 30 and 80 percent of the area median income to qualify for the development. The 50-unit property includes three first-floor units that offer an office suite or retail storefront for residents to utilize for their work. Those spaces were leased to three entrepreneurs, including one resident that operates a beauty bar and two others that work in digital marketing and business services. Amenities include a playground, fitness center, community room and laundry facilities. There are five units with features for those with disabilities. The Michigan State Housing Development Authority provided affordable housing tax credits to support financing for the project. Affordable housing investor CREA provided equity financing. Cedar Rapids Bank & Trust provided the first mortgage and Wells Fargo provided a construction loan. PCI Design Group was the project architect and Sol Consulting + Design served as sustainability consultant. Woda Cooper’s construction division served as the general contractor and the company’s management division will oversee leasing and day-to-day operations.

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