COLUMBUS, OHIO — The NRP Group has broken ground on Sinclair Apartments, a 180-unit affordable housing community in Columbus. In partnership with the City of Columbus Housing Division, the transit-oriented development will be developed with tax-credit funding support from the Ohio Housing Finance Agency and Huntington National Bank. Located at 5055 Sinclair Ave., the property will be reserved for Columbus-area residents who earn between 30 and 70 percent of the area median income. The three-building complex will replace Alrosa Villa, a live music venue that closed in 2020. Completion of the project is slated for 2023.
NAPERVILLE, ILL. — Colliers has arranged the sale of Jefferson Business Center in Naperville for an undisclosed price. The 169,250-square-foot distribution center is located at 1748 Jefferson Ave. Completed in 2019, the Class A facility features a clear height of 32 feet, 21 loading docks, 203 car parking stalls and 23 trailer stalls. The building was fully leased to four tenants at the time of sale. Jeff Devine and Steve Disse of Colliers Chicago represented the seller, TA Realty. Black Creek Group was the buyer.
CHICAGO — Skender has started the interior buildout of a two-story, 50,000-square-foot lab and office space for Hazel Technologies at 320 N. Sangamon, a new 13-story building being developed by Tishman Speyer and Mark Goodman & Associates in Chicago’s Fulton Market. Hazel, a USDA-funded technology company developing solutions to extend the shelf life of fresh produce, will move from its current location at Illinois Tech’s University Technology Park in the Bronzeville neighborhood. Hazel plans to double its local workforce to 70 employees in the coming year. The buildout includes space for both research and lab support, as well as 10,000 square feet of administrative and office space and 5,000 square feet of collaboration space. CBRE is the tenant representative, Perkins & Will is the architect and Cosentini Associates is the engineer. Completion is slated for spring 2022.
HUTTO, TEXAS — Titan Development has broken ground on a 197,621-square-foot industrial project in the northern Austin suburb of Hutto. The facility is part of the 100-acre second phase of Titan Innovation Business Park. The rear-load building will offer 32-foot clear heights, 54 dock-high doors and an ESFR sprinkler system. Titan Development expects to deliver the building in late 2022.
CARROLLTON, TEXAS — An affiliate of private equity firm Livingston Street Capital has acquired Atlas Point at Prestonwood, a 183-unit active adult community in the northern Dallas suburb of Carrollton. The property offers one-, two- and three-bedroom units with walk-in closets, granite countertops, hardwood-style flooring and stainless steel appliances. Amenities include a pool, outdoor lounge with a kitchen, salon, fitness center and a pet washing station. The seller was not disclosed.
GEORGETOWN, TEXAS — Wan Bridge, a Texas-based builder and operator, is underway on construction of Georgetown Heights, a 50-unit build-to-rent community that will be located on the northern outskirts of Austin. The community will feature three- and four-bedroom, two-story duplexes ranging in size from 1,400 to 2,100 square feet, as well as walking trails and green space. The development team is aiming to deliver the first model home by February.
FORT WORTH, TEXAS — Terrydale Capital, a Dallas-based financial intermediary, has arranged a $1.6 million acquisition loan for an undisclosed industrial property in Fort Worth. The 25-year loan was structured with 4.75 percent interest rate, a 25-year amortization schedule and seven months of interest-only payments. Cody Baker of Terrydale Capital arranged the loan through a correspondent SBA lender on behalf of the undisclosed borrower.
NEW YORK CITY — Los Angeles-based PCCP LLC has provided a loan of an undisclosed amount for the refinancing of 80 Broad Street, a 36-story office tower in Manhattan’s Financial District. The 423,777-square-foot building was originally constructed in 1931 and includes 12,385 square feet of retail space and private terraces on select floors. Ken Ziebelman, Grant Frankel and Ethan Pond of Eastdil Secured arranged the loan on behalf of the borrower, a joint venture between New York City-based Broad Street Development and Invesco Real Estate. Since 2018, ownership has invested more than $9 million in capital improvements to the property.
BEDFORD, PA. — Devli Real Estate has acquired a 461,433-square-foot industrial property that sits on a 38-acre site at 550 Sunnyside Road in Bedford, located in the southern-central part of the state. According to LoopNet Inc., the property was built in 1967 and renovated in 2006. The property features clear heights of 21 feet, 32 dock positions, proximity to Interstates 70 and 76 and units that range in size from 100,000 to 200,000 square feet. Gerry Blinebury of Cushman & Wakefield represented the buyer and the undisclosed seller in the transaction. The property was fully leased at the time of sale.
KEARNY, N.J. — Locally based brokerage firm Gebroe-Hammer Associates has negotiated the $36.3 million sale of General Kearny Apartments, a 171-unit complex in Northern New Jersey. The seven-building property was originally constructed in 1939 and offers one-, two- and three-bedroom units ranging in size from 351 to 825 square feet. David Oropeza and Niko Nicolaou of Gebroe-Hammer represented the seller, an entity doing business as J & D General Kearny Associates LLC, in the transaction. Nicolaou also procured the buyer, a private investor. Brad Domenico of Progress Capital arranged acquisition financing for the deal.