CLARKSVILLE, IND. — Huff, Niehaus & Associates Inc. has arranged the sale of the 119-room Hampton Inn Louisville-North/Clarksville hotel in Clarksville, a northern suburb of Louisville. The sales price was undisclosed. The property at 1501 Broadway St. is situated near downtown Louisville and the Kentucky International Convention Center. Kingdom Broadway LLC purchased the asset from HHB LLC. The new ownership, which owns eight hotels, plans a comprehensive renovation of the property.
MUNCIE, IND. — Marcus & Millichap has negotiated the $3.7 million sale of a 49-unit multifamily portfolio in Muncie. The portfolio includes Randy’s Court, a 24-unit townhome community at 222 W. Centennial Ave. that was built in 1978; and Streeter Court Apartments, a 25-unit multifamily property at 111 E. Streeter Ave. that was built in 1994. Aaron Kuroiwa and Austin Meeker of Marcus & Millichap represented the seller, Streeter25 LLC, and procured the buyer, Deed Holdings – 5050 LLC.
CHICAGO — SVN Chicago Commercial has brokered the $2.8 million sale of a fully leased apartment building located at 1555 N. Milwaukee Ave. in Chicago’s Bucktown neighborhood. The property features 17 apartment units and one street-level retail space. Wayne Caplan and José Colón of SVN Chicago Commercial represented the seller. The asset sold to a local apartment owner at a cap rate of 6.88 percent. The deal closed within 5 percent of the asking price in under three months.
OVERLAND PARK, KAN. — Vietnam Cafe will open its second location at 9500 W. 135th St. in Overland Park. Bill Maas of Block & Co. Inc. Realtors represented the seller in the transaction. The Vietnamese restaurant’s first location is at 522 Campbell St. near the River Market in Kansas City. The menu features authentic pho, as well as dishes from chicken, beef, shrimp and vegetarian options. The new restaurant will occupy the 4,075-square-foot former Beef-A-Roo space. The property will undergo construction, with a proposed open date to be determined.
CHICAGO — Related Midwest, the Related Affordable Foundation and Related Affordable Management Co. have opened a newly renovated playground at Marshall Field Garden Apartment Homes in Chicago’s Old Town neighborhood. Related partnered with KABOOM!, a national nonprofit, to construct the playground at the 628-unit affordable housing community. Residents, volunteers, Related team members and community partners built the playground on July 23 and 24. The project’s completion comes nearly two months after Related and KABOOM! hosted a design day at the community, where children and adult residents shared visions for the playspace. There are more than 17,000 KABOOM! playspaces nationwide. Related led a $175 million renovation of Marshall Field Garden Apartment Homes following its acquisition of the property in 2016.
JERSEY CITY, N.J. — JLL has arranged a $255 million loan for the refinancing of Journal Squared III, a newly constructed, 58-story multifamily apartment building in the Journal Square neighborhood of Jersey City. The borrower was a joint venture between Kushner Real Estate Group (KRE) and National Real Estate Advisors. Located at 595 Pavonia Ave., adjacent to the Journal Square PATH station, Journal Squared III is the third and final tower in the $900 million Journal Squared mixed-use development, which has a combined 2.3 million square feet and 1,840 residential units, according to Wikipedia. A decade in the making, construction of Phase I of Journal Squared began in 2014. Journal Squared II, which rises 68 stories and houses 538 units, opened in summer 2021. Construction of Journal Squared III topped out in May 2023. Completed in 2024, Journal Squared III features 598 luxury apartment units with a mix of studio, one-, two- and three-bedroom floor plans averaging 719 square feet. The development also offers 100,000 square feet of amenity space across the three buildings, such as a boxing ring, multiple fitness centers, recording studio, theater and a variety of coworking spaces and resident lounges that serve as an extension of …
SAN ANTONIO — Denver-based investment firm Platte Canyon Capital has purchased Allure Apartments, a 268-unit multifamily complex in San Antonio. The property was developed in phases on an 11.5-acre site on the city’s west side, with the first 116 units constructed in 1984 and another 152 delivered in 2017. Units come in one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, clubhouse, playground and grilling areas. Platte Canyon acquired Allure Apartments in partnership with an unnamed, Los Angeles-based institutional investment company in an off-market transaction. The new ownership plans to invest about $4.7 million in capital improvements to the property.
CARROLLTON, TEXAS — Marcus & Millichap has brokered the sale of Keller Springs Village, a 39,618-square-foot shopping center located in the northern Dallas metro of Carrollton. The 17-suite center sits on a 3.2-acre site at 2155 Marsh Lane and was fully leased at the time of sale to a mix of service-oriented tenants. Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
HOUSTON — Fashion Wheels Inc. has signed a 33,376-square-foot industrial lease renewal in northwest Houston. The apparel wholesaler will remain a tenant at the building at 7108 Old Katy Road, which according to LoopNet Inc. was originally constructed in 1999 and totals 192,960 square feet. Chase McAteer of local brokerage firm Oxford Partners represented the tenant in the lease negotiations. Faron Wiley of CBRE represented the landlord, PGIM Real Estate.
WINSTON-SALEM, N.C. — A joint venture between Carter and Front Street Capital has broken ground on Creekside at The Grounds, a 521-bed student housing development located near the Wake Forest University campus in Winston-Salem. The community will be part of Phase I of The Grounds, a 100-acre mixed-use project under development by the partnership. The $215 million first phase of construction is also set to include an office building and a retail village. Creekside at the Grounds will offer 229 fully furnished units with bed-to-bath parity. The community will also feature a clubhouse with study rooms and a fitness center, as well as an outdoor swimming pool, kitchen and entertainment area. The project is scheduled for completion in fall 2027. The design-build team includes The Preston Partnership (architect), Brasfield & Gorrie (general contractor) and Stimmel Associates (engineer of record). Carter and Front Street Capital’s financial partners on Creekside are Kayne Anderson Real Estate and Truist Financial Corp.
