Property Type

Berkadia Arranges $38.6M Refinancing of Apartment Community in Tampa

by Abby Cox July 1, 2025

TAMPA, FLA. — Berkadia has arranged $38.6 million in debt and equity financing for the recapitalization of Pointe at Carrollwood, a 224-unit apartment community located at 4949 Marbrisa Drive in Tampa. The financing includes a $29.9 million, five-year, fixed-rate Freddie Mac loan and a preferred equity investment of $8.4 million from Miami-based Atlantic Pacific Cos. Scott Wadler, Matt Nihan, Matt Robbins, Brad Williamson and Mitch Sinberg of Berkadia originated the financing package on behalf of the borrower, Miami-based Beacon Real Estate Group. Originally built in 1984, Pointe at Carrollwood offers one- and two-bedroom apartments ranging in size from 629 square feet to 1,050 square feet. Since purchasing the property in March 2022, Beacon has invested $3.6 million in capital improvements to renovate units with modern cabinetry, stainless steel appliances, quartz or granite countertops, walk-in closets and expanded balconies or patios. Community amenities include a swimming pool with grilling options, fitness center, boardwalk, 24-hour laundry center, car care station and a playground. Situated near Tampa International Airport and Busch Gardens, the apartment complex was 95 percent occupied at the time of financing.

July 1, 2025

University of North Carolina at Chapel Hill’s Innovation Hub

Loans Mixed-Use North Carolina Southeast

Avison Young Secures $26M Refinancing for UNC Chapel Hill’s Innovation Hub in North Carolina

by Abby Cox July 1, 2025

CHAPEL HILL, N.C. — Avison Young has secured a $26 million bridge loan for the refinancing of University of North Carolina at Chapel Hill’s Innovation Hub, a 122,000-square-foot newly renovated mixed-use development located across the street from the university. Bayview Commercial Mortgage Finance provided the five-year loan to repay the existing construction loan and fund future capital needs. Hal Kempson of Avison Young represented the developer, Grubb Properties. Situated at the corner of 136 E. Rosemary St. and 137 E. Franklin St., the Innovation Hub features office and retail space and is part of the Carolina Economic Development Strategy that aims to retain and attract innovation-driven businesses and talent. Recent renovations at the property have featured the installation of oversized windows, a fresh exterior to match the neighboring buildings and a new lobby at the 136 East Rosemary office building, as well as parking deck improvements. Tenants at the Innovation Hub include Innovate Carolina, Launch Chapel Hill and BioLabs. Hillman Duncan and Taylor McCuiston of JLL lead leasing efforts for the property on behalf of Grubb Properties.

July 1, 2025

Industrial Loans North Carolina Southeast

PGIM Real Estate Provides $100M Loan for North Carolina Industrial Portfolio

by Abby Cox July 1, 2025

CHARLOTTE AND RALEIGH, N.C. — PGIM Real Estate has provided a $100 million loan for the financing of a 12-property industrial portfolio located in the greater Charlotte and Raleigh markets. Trace Wilson of PGIM Real Estate led financing efforts for the transaction on behalf of the borrower, Beacon Partners. The portfolio comprises 11 fully occupied industrial properties totaling nearly 1.6 million square feet, as well as one industrial outdoor storage (IOS) property. Beacon will use the fixed-rate financing to reposition and expand the portfolio, according to Wilson.

July 1, 2025

Acquisitions Retail South Carolina Southeast

Marcus & Millichap Negotiates $7.4M Sale of Braves Village Shopping Center Near Myrtle Beach

by Abby Cox July 1, 2025

SOCASTEE, S.C. — Marcus & Millichap has negotiated the $7.4 million sale of Braves Village Shopping Center, a 60,914-square-foot retail center located in the Myrtle Beach suburb of Socastee. Food Lion anchors the center, which was built in 1985. Additional tenants include Rent-A-Center, Metro by T-Mobile and Any Lab Test Now. Lori Schneider and David Gant of Marcus & Millichap represented the undisclosed seller and procured the buyer, Brentwood Realty, in the transaction. Benjamin Yelm served as Marcus & Millichap’s broker of record in South Carolina for the deal.

July 1, 2025

Acquisitions Company News Mixed-Use Retail Southeast

Simon Acquires Majority Interest of Shops at Brickell City Centre in Downtown Miami for $512M

by Abby Cox July 1, 2025

MIAMI — Indianapolis-based mall giant Simon Property Group has acquired the remaining interest of the retail and parking component at Brickell City Centre, a 5.4 million-square-foot mixed-use development in downtown Miami. Swire Properties Inc. sold the majority 75 percent stake in the property’s 500,000-square-foot retail portion for $512 million, according to several media outlets. Simon had previously owned a 25 percent, non-managing interest in The Shops at Brickell City Centre. Following the transaction, Simon is now the sole owner and manager of the property’s retail and entertainment component. Completed in 2016, The Shops at Brickell City Centre comprises four four-story buildings across three city blocks. Anchored by SAKS Fifth Avenue, additional retail tenants at the center include Apple, Chanel Fragrance & Beauty Boutique, Coach, lululemon, Sephora, Zara and Nike. The property also features a multi-level food hall and entertainment venues including CMX and PuttShack.

July 1, 2025

Acquisitions Industrial Texas

Partners Brokers Sale of Five Industrial Buildings Totaling 75,000 SF in Friendswood, Texas

by Taylor Williams July 1, 2025

FRIENDSWOOD, TEXAS — Partners Real Estate has brokered the sale of five industrial buildings totaling approximately 75,000 square feet in Friendswood, a southeastern suburb of Houston. The buildings are located within the 120,000-square-foot Rex Road Industrial Business Park. Michael Keegan and Andrew Laycock of Partners represented the seller, Rex Industrial Partners, in the transaction. The buyer and sales price were not disclosed. Partners was also involved in recently negotiating leases at two of the property’s eight buildings.

July 1, 2025

Acquisitions Retail Texas

NewQuest Arranges Sale of 28,322 SF Retail Center in Corsicana, Texas

by Taylor Williams July 1, 2025

CORSICANA, TEXAS — Houston-based brokerage firm NewQuest has arranged the sale of Southland Center, a 28,322-square-foot retail center located south of Dallas in Corsicana. The center was developed in the mid-1980s and was fully leased at the time of sale to tenants such as Scrappin Goodtimes and Anytime Fitness. Dakota Workman of NewQuest represented the sellers, private investors Robert Gegenheimer and Joanna Hunt, in the transaction. Daniel Wenz Jr. of Wenz Investment Group represented the buyer, Dallas-based Audax Enterprises.

July 1, 2025

Industrial Leasing Activity Texas

LFD Forwarding Signs 12,070 SF Industrial Lease in Grand Prairie, Texas

by Taylor Williams July 1, 2025

GRAND PRAIRIE, TEXAS — California-based logistics company LFD Forwarding has signed a 12,070-square-foot industrial lease in the central metroplex city of Grand Prairie. The space is located within Building 3 at Woodlands Business Center, a 91,854-square-foot complex. Jason Finch and Michael Spain of Bradford Commercial Real Estate Services represented the landlord, Stonelake Capital Partners, in the lease negotiations. Collin Hu of eXp Commercial represented the tenant.

July 1, 2025

Development Loans Multifamily New York Northeast

Baron Property Group, LargaVista Receive $388.5M in Construction Financing for Queens Multifamily Project

by Taylor Williams July 1, 2025

NEW YORK CITY — A partnership between two developers, New York-based Baron Property Group and Miami-based LargaVista Cos., has received $388.5 million in construction financing for a 561-unit multifamily project in the Long Island City neighborhood of Queens. Designed by CetraRuddy, the development will consist of 451 apartments and 110 condos, as well as 21,000 square feet of retail space, that will be housed within a 46-story building at 30-25 Queens Blvd. Starwood Capital Group, Gotham Organization and Blackstone Real Estate Debt Strategies provided the financing, which was co-arranged by Ayush Kapahi of HKS Real Estate Advisors and Anthony Ledesma of DIA Capital Group. Rental and condo residences will feature studio, one- and two-bedroom floor plans. Amenities will include a rooftop pool, basketball and pickleball courts, a content creation and recording studio, fitness center, private outdoor terraces with grilling stations, a solarium with a kitchen, pet spa, coworking lounges and a game room. Completion is slated for 2028.

July 1, 2025

Affordable Housing Development Loans Multifamily New York Northeast

BFC Partners Lands $250M Construction Loan for Coney Island Affordable Housing Project

by Taylor Williams July 1, 2025

NEW YORK CITY — Locally based developer BFC Partners has landed a $250 million construction loan for 1709 Surf Avenue, a 420-unit affordable housing project on Coney Island. The project marks the third and final phase of a 1,242-unit, three-building affordable housing development along Surf Avenue that is valued at approximately $700 million. Income restrictions across the three buildings range from 30 to 130 percent of the area median income. Project partners include the New York City Department of Housing Preservation and Development, the New York City Housing Development Corp. and Citi Community Capital. Construction is slated for a 2028 completion.

July 1, 2025

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