GRAND PRAIRIE, TEXAS — New York City-based Dwight Capital has provided a $30.5 million bridge loan for the refinancing of The Retreat at Grand Prairie, a 154-unit seniors housing property in Grand Prairie, located roughly midway between Dallas and Fort Worth. The four-story building sits on 7.7 acres and offers amenities such as a pool, fitness center, business center, game room, pet park and a putting green. Josh Sasouness of Dwight Capital originated the loan. The borrower was not disclosed.
FLOWER MOUND, TEXAS — Weitzman has arranged the sale of Arbor Crossing, a 19,260-square-foot shopping center in Flower Mound, a northern suburb of Fort Worth. The property was fully leased at the time of sale to tenants such as The UPS Store, Verizon Wireless, Nekter Juice Bar and Fuzzy’s Taco Shop. Michelle Caplan and Matthew Rosenfeld of Weitzman, along with Scott Remphrey of Brytar Cos., which developed the property, represented the seller in the transaction. Rob Holuba, Patrick Camporini, Victoria Taylor Madrid and Justin Okumus with CenterSquare Investment Management, which acquired the asset on behalf of a public pension fund client, represented the buyer on an internal basis.
EL PASO, TEXAS — New York City-based Ready Capital has closed a $16.5 million loan for the acquisition, renovation and stabilization of an unnamed, 288-unit apartment complex in the El Paso area. The nonrecourse, interest-only loan features a 36-month term, floating interest rate, two extension options and a facility to fund future capital improvements. The sponsor was not disclosed.
ATLANTA — A joint venture between Golub & Co., AB Capital, local entrepreneur Thierry Francois and a client advised by MetLife Investment Management plans to build a two-building apartment community in Atlanta totaling 576 units. The joint venture recently purchased a 5.8-acre development site at 2164 Marietta Blvd. in the city’s Upper West Side submarket for the project. Bruce Armstrong and Joel Sandridge of Chicago-based Golub will oversee the design and construction of the community, along with architectural firm Lord Aeck Sargent. The property will feature an industrial aesthetic, central courtyard and an undisclosed amount of retail space. The joint venture plans to break ground on the unnamed property in the third quarter with delivery of the first phase slated for third-quarter 2023.
ATLANTA — Icer Properties has purchased The Life at Greenbriar Apartments, a 376-unit multifamily community located at 2909 Campbellton Road in southwest Atlanta, for $43.5 million. Built in 1971, the property features a leasing office, controlled access gate, playground, dog park and a laundry center. Taylor Brown, Chandler Brown and Barden Brown of GREA represented the seller, Olive Tree Holdings, in the transaction. New York-based Icer Properties is rebranding the property as The Hills at Greenbriar and plans to finish interior renovations, as well as bring 14 vacant units back on line.
MIAMI — Talonvest Capital has arranged a $21.4 million loan for a new self-storage facility in Miami. Situated near Interstate 95 and Miami’s Wynwood district, the seven-story property spans 106,940 square feet and comprises 1,100 climate-controlled units. An unnamed private investment firm based in New York provided the loan to the borrower, SpareSpace Storage, a locally based owner-operator. The firm will use the three-year loan to refinance construction debt and also finance the phased buildout of the facility. David DiRienzo, John Chase, Jim Davies, Ivan Viramontes, and Thalia Tovar of Talonvest Capital originated the loan, which features interest-only payments for the life of the loan with two 12-month extension options.
ST. JOHNS, FLA. — CBRE has brokered the $19.2 million sale of Shoppes at Beachwalk, a newly built, Publix-anchored shopping center located on County Road 210 in St. Johns, a suburb of Jacksonville. The developer, Pebb Enterprises, delivered the 58,887-square-foot shopping center last year. Publix Super Markets purchased Shoppes at Beachwalk, which was fully occupied at the time of sale. Casey Rosen and Dennis Carson of CBRE’s National Retail Partners team represented the seller in the transaction.
CHARLESTON, S.C. — Frampton Construction Co. has broken ground on a “transload” industrial facility near the Port of Charleston spanning 89,000 square feet. The Keith Corp. is developing the property in partnership with the South Carolina Ports Authority on behalf of the tenant, TradePort Logistics. The third-party logistics firm handles cargo for retailers like Walmart, which recently opened its 3 million-square-foot distribution hub nearby. TradePort’s concrete, tilt-up building will feature 20-foot clear heights, 130 dock doors, 630 trailer parking spaces and 110 employee parking spaces, as well as approximately 2,000 square feet of office space. The site is located off Clements Ferry Road. An access road is being built to connect the facility to Charleston Regional Parkway, according to Frampton. Other project members include architect Berenyi Inc. and civil engineer Thomas + Hutton. Frampton expects to deliver the facility this summer.
JERSEY CITY, N.J. — A developer doing business as 400 Claremont LLC has completed 3 Acres, a 629-unit apartment community in Jersey City. Designed by Marchetto Higgins Stieve, the property offers micro studio, studio, one- and two-bedroom units with quartz countertops, stainless steel appliances and individual washers and dryers. Indoor amenities include a fitness center, saunas, conference room, work pods, demonstration kitchen, multi-sport simulator and screening room, resident lounge and a game room with a mini bowling alley. Outside, residents have access to a rooftop terrace with a pool, as well as a dog run and courtyards with dining stations, workout areas and games. The property is roughly 50 percent leased, and rents start at $1,575 per month for a one-bedroom unit.
BURLINGTON, MASS. — SVN | Parsons Commercial Group | Boston has arranged the $8.8 million sale of a 40,000-square-foot office/flex building in Burlington, a northern suburb of Boston. The building sits on three acres just off Route 128 and across from the Burlington Mall. Marci Alvarado of SVN represented the seller, a partnership between two limited liability companies, in the transaction. Dean Blackey and Elizabeth Holmes of RW Holmes represented the buyer, ACCO Properties LLC.