WOODBURN, ORE. — Ethos Commercial Advisors has secured construction financing for WB Commerce, a speculative industrial park in Woodburn. Situated on 11 acres off Highway 214, WB Commerce will feature two buildings offering a total of 154,000 square feet of industrial space. Daniel Natsch and Matthew Illias of Ethos Commercial Advisors originated a 24-month construction loan at a 62 percent loan-to-cost ratio with a national debt fund for the undisclosed borrower.
HIALEAH, FLA. — A partnership between Prestige Cos. and Brunetti Organization has completed Flamingo Village, a 341-unit apartment community located at 2200 E. Fourth Ave. within the 200-acre Hialeah Park Race Track & Casino campus. The community is situated on 13 acres and represents the largest development on the site since the casino opened in 2013. Brunneti is the master developer of Hialeah Park, which is located about 11.5 miles northwest of Miami. Centennial Bank provided a $60.7 million construction loan to the co-developers for Flamingo Village, which features floorplans ranging in size from 890 to 1,375 square feet in garden-style and townhome layouts. Monthly rental rates range from $2,600 to $3,375, according to Apartments.com. Amenities include two clubhouses, swimming pools, wide landscaped walkways, a fitness center with a yoga and meditation studio, business center, pet play area, a park and tanning deck. Flamingo Village is situated within walking distance of the Hialeah Metrorail station.
CARLSBAD, CALIF. — RF Partners LLC has completed the disposition of a flex office and industrial property, located at 5935 Darwin Court in Carlsbad, to a private local owner-user investor for $14.2 million. Situated within the Carlsbad Research center, the two-story, 54,351-square-foot creative flex office building was built in 1991 and renovated in 2005 and 2024. Matt Pourcho, Dennis Visser, Matty Sunberg, Anthony DeLorenzo and Don Trapani of CBRE represented the seller in the transaction.
SCOTTSDALE, ARIZ. — Mark IV Capital Properties has completed the sale of Paradiso, a two-story, multi-tenant medical office building in Scottsdale. Albany Road Real Estate Partners acquired the property for $13.3 million. The 59,445-square-foot asset features a large central courtyard with decorative fountains and seating areas, private entrances and balconies, covered breezeways, patios off several ground-floor suites and full-length storefront windows. The property is located at 11000 N. Scottsdale Road. Eric Wichterman, Alexandra Loye, Chris Toci and Mike Coover of Cushman & Wakefield represented the seller in the transaction.
GREENVILLE, S.C. — JLL has arranged a $59 million loan for the cross-collateralized, cash-out refinancing of three affordable housing communities in the Upstate South Carolina region totaling 598 units. The properties include Paris Park and Terrain at Haywood in Greenville and Mauldin Meadows in Mauldin. Carter Wroblewski, Taylor Allison and Sydney Powell of JLL arranged the three-year, interest-only loan through Truist Bank. The borrower, Affordable Upstate, purchased the properties between December 2021 and September 2022 and has since invested $13.6 million in capital improvements. The company purchased each community using a similar equity structure, which allowed for the cross collateralization, according to JLL. The properties are managed by NOAH Property Management and feature self-imposed rent restrictions of 60 percent and 80 percent of the area median income (AMI).
LANCASTER, CALIF. — Hanley Investment Group Real Estate Advisors has directed the sale of a multi-tenant retail property located adjacent to Smart & Final Extra! at Antelope Valley Plaza in Lancaster. PacWest Management sold the property to an Orange County, Calif.-based private investor for $3.9 million. Ayda Kach and Sean Cox of Hanley Investment Group represented the seller, while Samer Khalil of Newmark represented the buyer in the deal. Located at 2062-2072 W. Ave. J, the 8,119-square-foot property is fully leased to a variety of tenants, including Pho Shop, Sub-Machine, Boba Tea, Salvadorian Restaurant, La Ramadita and The Best Ceviche. Antelope Valley Plaza offers 127,000 square feet of retail space.
MEMPHIS, TENN. — Cushman & Wakefield Commercial Advisors has negotiated the sale of a 169,272-square-foot industrial facility located at 4481 Distriplex Cove in Memphis. Olymbec USA LLC, a division of Montreal-based industrial owner Olymbec, purchased the property from tire manufacturer and distributor China Manufacturers Alliance LLC (CMA LLC) for an undisclosed price. Landon Williams and Katie Hargett of Cushman & Wakefield Commercial Advisors represented the seller in the transaction, and Brian Califf of NAI Saig represented the buyer.
CHANHASSEN, MINN. — Colliers has arranged the sale of Venue Apartments, a 134-unit apartment complex in the Twin Cities suburb of Chanhassen. The property opened in 2019 and is anchored by an Aldi grocery store, which is separately owned and was not part of the transaction. Amenities include a rooftop deck, business center, fitness facility, clubroom, sports simulator, coffee bar, underground heated parking and automated package delivery. Mox Gunderson, Dan Linnell, Adam Haydon and Devon Dvorak of Colliers represented the seller, Minnesota-based Roers Cos. Edina, Minn.-based Highland Management purchased the property through a 1031 exchange. The community was 95.5 percent leased at the time of sale.
CHICAGO — Vestian, a Chicago-based commercial real estate services firm, has recently secured three commercial leases in North Carolina for three global manufacturers. The deals include an industrial lease for HEYCO-Werk USA, a tech manufacturer for plastic injection and two-shot molding; a lease for a new experience center in Charlotte for corrugated box manufacturer BHS Corrugated; and an industrial lease for BICASA North America, a provider of technical lab furniture. Information on the landlords and specific locations were not released.
CHICAGO — Mid-America Real Estate Corp. has brokered the sale of the Southport Retail Collection, a portfolio of three trophy retail assets located in Chicago’s Southport Corridor. The fully leased, 20,242-square-foot portfolio sold to a private buyer. The assets are leased to Capital One Café, Tuco & Blondie and Indira Salon & Spa. Joe Girardi, Emily Gadomski and Patrick Corrigan of Mid-America represented the undisclosed seller.
