WESLACO, TEXAS — CBRE has negotiated the sale of Valley Crossing, a 178,594-square-foot shopping center located in the Rio Grande Valley city of Weslaco. The center was 97 percent leased at the time of sale to tenants such as J.C. Penney, T.J. Maxx and Petco. Mark Witcher, Harrison Tye and Jolie Duhon of CBRE represented the seller, an entity doing business as Capcor Weslaco Ltd., in the transaction. The buyer was Otima Investments.
HUNT VALLEY, MD. — Locally based St. John Properties Inc. has purchased a three-building office portfolio within North Park, a business park in Baltimore County. The properties span 295,000 square feet combined and are located at 4, 6 and 10 N. Park Drive in Hunt Valley. The portfolio is leased to tenants including Travelers Insurance, RCM&D, AP Benefits Advisors and AECOM. Onsite amenities include a conference center with catering kitchen, fully equipped fitness center, walking trails and a full-service deli. Gerry Trainor, Jim Cardellicchio and Rowan Miller of Transwestern represented the undisclosed seller in the transaction, and Sean Doordan and Alex Lyons represented St. John Properties internally. The sales price was also not disclosed. The new ownership plans to invest in capital improvements within the newly acquired portfolio, including new HVAC equipment, landscaping, signage and updated common areas. The North Park acquisition brings St. John Properties’ Baltimore County holdings to more than 4.6 million square feet.
BATON ROUGE, LA. — A joint venture between affiliates of Monument Square Investment Group and a New York-based single-family office has acquired University Grove, a 381-bed student housing community located 2.7 miles south of the Louisiana State University (LSU) campus in Baton Rouge. Developed in 2024, the property offers 127 cottage-style units in three-bedroom configurations with bed-to-bath parity. Capital improvements are planned for the property, including upgrades to landscaping and amenity spaces. The community was 98.5 percent leased at the time of sale. The seller and terms of the transaction were not released.
PALM BEACH GARDENS, FLA. — Northmarq has arranged the $43 million refinancing for Oakbrook Center, a three-building, 243,350-square-foot office campus located at 11760, 11770 and 11780 U.S. Highway 1 in Palm Beach Gardens. Deutsche Bank provided the five-year CMBS loan to the borrower, a joint venture between MHCommercial Real Estate Fund and Waterfall Asset Management. Built in 1985, Oakbrook Center is situated on 11.4 acres in South Florida’s Palm Beach County and includes covered parking; professional onsite property management; a fitness center with Peloton bikes, cardio weight equipment and showers; stacked, private terraces; floor-to-ceiling windows; and a courtyard.
TALLADEGA, ALA. — Marcus & Millichap has brokered the $2.4 million sale of Talladega Shopping Center, a 47,437-square-foot shopping center located at 803 Battle St. E in Talladega, an eastern suburb of Birmingham. Citi Trends and Standard Furniture, both of which have occupied the site for more than a decade, are the property’s anchor tenants. Additional tenants include Regional Finance and AT&T, which occupies a newly developed outparcel. The center was originally built in 1981 on 3.6 acres and was 88 percent leased at the time of sale. Eric Abbott and Zachary Taylor of Marcus & Millichap represented the seller in the transaction. Eddie Greenhalgh serves as Marcus & Millichap’s broker of record in Alabama.
SAN ANTONIO — Stream Realty Partners has broken ground on 211 Crossing, a 35,000-square-foot office project that will be located in the Far West submarket of San Antonio. The development will feature six buildings with an average size of about 5,750 square feet, as well as three pad sites that will be available for purchase or build-to-suit opportunities. Completion is slated for next spring. Stream will also lease the development.
SAN ANTONIO — Partners Real Estate has brokered the sale of a 26,436-square-foot industrial outdoor storage facility (IOS) in San Antonio. The single-tenant site is located at 8034 NE Loop 410 and is leased to Mears Installation, a provider of energy infrastructure solutions. Stan Nowak and Andrew Alizzi of Partners represented the seller, Harbor Capital, in the transaction. The buyer was Base Industrial.
WATERTOWN, MASS. — JLL has arranged the $119.2 million refinancing of 500 Forge, a 158,683-square-foot life sciences property in Watertown, located just west of Boston. The financing consists of a $94 million senior loan from Landesbank Baden-Württemberg and a $25.2 million mezzanine loan from Tishman Speyer. The property, which is located within the Arsenal Yards mixed-use development, was fully redeveloped in 2023 to feature 60 percent lab/research-and-development space and 40 percent office space. The property was fully leased at the time of the loan closings to three tenants: Mariana Oncology, Orna Therapeutics and AvenCell Therapeutics. Brett Paulsrud, Henry Schaffer and Geoff Goldstein of JLL arranged the financing on behalf of the borrower, a partnership between Boylston Properties and institutional investors advised by J.P. Morgan Asset Management.
NEW YORK CITY — Locally based owner-operator The Altmark Group has received a $96 million loan for the refinancing of The Motto, a 24-story apartment building located in the Mott Haven area of The Bronx. Designed by Woods Bagot, The Motto offers 264 units, 80 of which are reserved as affordable housing, in studio, one- and two-bedroom floor plans. Amenities include coworking lounges, a resident sky lounge, rooftop terrace with barbecue grills and fire pits and a fitness center. Brad Domenico, Gideon Gil, Jack Subers and Frank Stanislaski of Cushman & Wakefield arranged the five-year, fixed-rate loan through Morgan Stanley on behalf of The Altmark Group.
NEW YORK CITY — PCCP LLC has provided a $65 million loan for the refinancing of Pearson Court Square, a 197-unit apartment complex in the Long Island City area of Queens. Built in 2014, the transit-served property offers studio, one- and two-bedroom units and amenities such as a resident lounge, coworking space, rooftop sky deck and an outdoor basketball court. The borrower was an affiliate of L+M Development Partners. Pearson Court Square was roughly 98 percent occupied at the time of the loan closing.