Property Type

Futura, Linkvest Receive $52.5M HUD Construction Loan for Multifamily Project in Orlando’s Lake Nona

by Alex Tostado November 9, 2020

ORLANDO, FLA. — Joint venture partners Futura and Linkvest Capital have received a $52.5 million construction loan for the development of Futura at Nona Cove in Orlando. Berkadia originated the U.S. Department of Housing and Urban Development (HUD) 221(d)(4) loan on behalf of the developers. The community will be situated within Lake Nona, a master-planned community featuring, retail space, office space, multifamily units, single-family homes and hotels. Tavistock Group is the master developer of Lake Nona. The 260-unit property will offer studio through three-bedroom floor plans ranging from 623 to 1,315 square feet. Communal amenities will include a two-story clubroom, fitness center, dog spa and park, coworking space and a pool. Construction at the 17-acre site has begun and the developers expect to deliver the community in the third quarter of 2022.

November 9, 2020

Acquisitions Georgia Retail Southeast

Marcus & Millichap Arranges $3.7M Sale of Retail Strip Center Near Atlanta

by Alex Tostado November 9, 2020

BUFORD, GA. — Marcus & Millichap has arranged the $3.7 million sale of Hamilton Mill Crossings, an 11,722-square-foot retail strip center in Buford. The property was 88 percent leased at the time of the sale to tenants including Starbucks, Viral Vapes, Luxury Nail & Spa and AT&T Store. The asset is situated at 3265 Sardis Church Road, catty-corner from a Walmart Superstore and 40 miles northeast of downtown Atlanta. The undisclosed buyer was completing a 1031 exchange. Marc Irvin and Matthew Welch of Marcus & Millichap represented the undisclosed, Florida-based seller in the transaction.

November 9, 2020

Acquisitions Multifamily Texas

Cantor Fitzgerald, CAF Management Buy 444-Unit Apartment Community in Irving

by Taylor Williams November 9, 2020

IRVING, TEXAS — A joint venture between affiliates of Cantor Fitzgerald Investors LLC and CAF Management LLC has purchased The Station at MacArthur, a 444-unit apartment community located in the Las Colinas district of Irving. The property features townhouse-style residences in one-, two- and three-bedroom formats with an average unit size of 1,031 square feet. Amenities include four pools, a two-story fitness center, business center and a pet park. The property was approximately 95 percent leased at the time of sale. The seller was not disclosed.

November 9, 2020

Acquisitions Industrial Midwest Ohio

Cushman & Wakefield Brokers Sale of Marion Industrial Center in Central Ohio

by Kristin Harlow November 9, 2020

MARION, OHIO — Cushman & Wakefield has brokered the sale of the Marion Industrial Center in Marion within central Ohio. The sales price was undisclosed. Located at 3007 Harding Highway East, the property includes more than 1.5 million square feet of warehouse and manufacturing space on 511 acres. Marion Industrial Center has direct access to the CSX rail network. There is enough land to facilitate the immediate construction of millions of square feet of new Class A warehouse space, according to Cushman & Wakefield. Whitney Kerr Jr., Michael Flynn and Mike Hurd of Cushman & Wakefield represented the seller, a privately held group. Grant Tidemann of J.P. Weigand Commercial partnered with the Cushman & Wakefield team on the transaction. Jaguar Transport, a transportation and logistics service company, was the buyer.

November 9, 2020

Development Industrial Midwest Missouri

Amazon to Build 1 MSF Fulfillment Center in Republic, Missouri

by Kristin Harlow November 9, 2020

REPUBLIC, MO. — Amazon.com Inc. has unveiled plans to open a fulfillment center in Republic, about 14 miles southwest of Springfield. Construction of the 1 million-square-foot facility is expected to begin in 2021. Upon completion, Amazon expects to create more than 500 full-time jobs. Employees will pick, pack and ship bulky or lager-sized items such as patio furniture, outdoor equipment and rugs. Since 2010, Amazon has created more than 4,500 jobs in Missouri and invested more than $780 million across the state, including infrastructure and compensation to its employees.

November 9, 2020

Acquisitions Healthcare Midwest Wisconsin

Montecito Medical Acquires 130,000 SF Medical Office Building in Suburban Milwaukee

by Kristin Harlow November 9, 2020

GREENFIELD, WIS. — Montecito Medical Real Estate has acquired Aurora Health Center at 84South, a surgical center and medical office building in Greenfield, a suburb of Milwaukee. The purchase price was undisclosed. Built in 2019, the 130,000-square-foot, five-story facility is fully leased to Advocate Aurora Health. It is situated within the larger mixed-use development known as 84South. The property is one of the largest outpatient ambulatory sites for Advocate Aurora Health with eight surgical suites, two pain management procedure rooms, four gastroenterology suites and outpatient interventional radiological suites. The building also serves as a central location for Aurora Children’s Health Services and Aurora’s Sports Health Services. Advocate Aurora Health operates 27 acute care hospitals and employs roughly 3,700 physicians across Wisconsin, Michigan and Illinois.

November 9, 2020

Industrial Leasing Activity Texas

TAXA Outdoors Signs 69,356 SF Industrial Lease in Northwest Houston

by Taylor Williams November 9, 2020

HOUSTON — TAXA Outdoors, a provider of mobile camping trailers, has signed a 69,356-square-foot, full-building industrial lease at 7930 Blankenship Drive in northwest Houston. According to LoopNet Inc., the property was built in 1970 and features 22-foot clear heights and more than 10,000 square feet of office space, as well as fenced truck courts and outside storage capacity. Geoff Perrott and Jeff Venghaus of JLL represented the tenant in the lease negotiations. Nick Peterson and John Ferruzzo of Transwestern represented the landlord, Prologis.

November 9, 2020

Development Healthcare Illinois Midwest

McShane Completes Construction of New Facility for Option Care Health in Itasca, Illinois

by Kristin Harlow November 9, 2020

ITASCA, ILL. — McShane Construction Co. has completed a new build-to-suit facility for Option Care Health in Itasca. Quadrangle Development Co. and Janko Group were the developers. The 50,000-square-foot, single-story building houses office space, pharmacy and ambulatory infusion sites. There is also a treatment area, showroom space, pharmacy lab area and conference rooms. The building’s warehouse areas feature two walk-in coolers and freezers, two truck docks and two drive-in doors. Wright Heerema Architects and Whitney Architects made up the project team. JLL represented the tenant.

November 9, 2020

Loans Multifamily Texas

Colliers Provides Fannie Mae Acquisition Loan for 85-Unit Apartment Complex in Metro Dallas

by Taylor Williams November 9, 2020

DESOTO, TEXAS — Colliers Mortgage has provided an undisclosed amount of Fannie Mae green acquisition financing for The Corners Apartments, an 85-unit multifamily complex located in the southern Dallas suburb of DeSoto. The property was built in 1984 and renovated in 2019. Colliers provided the 12-year loan through a partnership with Old Capital Lending. The borrower was not disclosed.

November 9, 2020

Loans Michigan Midwest Multifamily Seniors Housing

Bernard Financial Group Arranges $11.5M Refinancing for Seniors Housing Property in Detroit

by Kristin Harlow November 9, 2020

DETROIT — Bernard Financial Group has arranged an $11.5 million loan for the refinancing of an 82-unit seniors housing property in Detroit. Walker & Dunlop provided the Freddie Mac loan, terms of which were undisclosed. Dennis Bernard and Joshua Bernard of Bernard Financial Group arranged the loan on behalf of the borrower, OP Senior Limited Dividend Housing Association LLC.

November 9, 2020

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