Property Type

Gene Kansas Commercial Real Estate to Open 35,000 SF Coworking Space in Atlanta

by Alex Tostado August 14, 2019

ATLANTA — Gene Kansas Commercial Real Estate plans to open Indie Studios, a 35,000-square-foot coworking space in Atlanta, in spring 2020. Located at 190 Ottley Drive, Indie Studios will be fashioned for designers and creative companies with 12 spaces accommodating eight to 20 people. Indie Studios will also include “Studio X,” a technology-driven space for software developers creating programs, products and processes that center on design. Amenities at Indie Studios will include a living room, conference rooms, full-service café, community space, porches, patios, 150 linear feet of front garden and cinnamon rolls served each afternoon with complimentary coffee. Additionally, the space is situated across the street from SweetWater Brewing Co. Atlanta-based Gene Kansas will develop, lease and manage Indie Studios.

August 14, 2019

Acquisitions Georgia Retail Southeast

S.J. Collins Sells New Whole Foods Market 365-Anchored Shopping Center in Metro Atlanta

by Alex Tostado August 14, 2019

DECATUR, GA. — Atlanta-based developer S.J. Collins Enterprises has sold the retail portion of North Decatur Station, a newly delivered mixed-use development in Decatur. The fully leased, 86,164-square-foot shopping center is anchored by Whole Foods Market 365 and opened in early 2019. The center is located a 1555 Church St., eight miles east of downtown Atlanta. Other tenants include Hollywood Feed, Gusto!, Big Peach Running, Club Pilates, Jason’s Deli, F45 Fitness and Thrive Vet Clinic. North Decatur Station also includes Solis Decatur Apartments, a 290-unit multifamily community that was not included in the sale. Fain Hicks, Lane Breedlove and Tyler Anderson of Cushman & Wakefield represented S.J. Collins in the transaction. Weingarten Realty Investors acquired the property. The sales price was not disclosed.

August 14, 2019

Hospitality Loans Louisiana Southeast

Sonnenblick-Eichner Arranges $46M Refinancing Loan for Maison Dupuy Hotel in New Orleans

by Alex Tostado August 14, 2019

NEW ORLEANS — Sonnenblick-Eichner Co. has arranged a $46 million refinancing loan for the Maison Dupuy, a five-story, 200-room hotel in New Orleans’ French Quarter neighborhood. Loan proceeds will be used to pay off existing debt, as well as to renovate the property. Plans for the renovation were not disclosed. Maison Dupuy is located at the corner of Toulouse and Burgundy streets, two blocks from Bourbon Street. The independent hotel offers a 4,088-square-foot courtyard, heated swimming pool, cabanas, fitness center, business center, meeting space, 65 parking spaces and the Bistreaux Restaurant & Bar. The lender was a global asset management company that has a real estate lending platform. The borrower was not disclosed.

August 14, 2019

Acquisitions Affordable Housing Florida Loans Multifamily Southeast Walker & Dunlop

Walker & Dunlop Provides $27.9M Acquisition Loan for Affordable Housing Community in Orlando

by Alex Tostado August 14, 2019

ORLANDO, FLA. — Walker & Dunlop has provided a $27.9 million Freddie Mac acquisition loan for Brooke Common Apartments, a 288-unit affordable housing community in Orlando. The borrower is Avanath Capital Management. Half of the units, which are spread out over 38 garden-style buildings, are reserved for those making 60 percent of the area median income (AMI), while 5 percent of the units are reserved for those making 55 percent of the AMI. Brooke Commons Apartments is located 13 miles north of downtown Orlando and offers communal amenities such as a swimming pool, playground, fitness center, volleyball court, business center and a clubhouse. The seller was not disclosed.

August 14, 2019

Affordable Housing Development Multifamily New York Northeast

Related, The Hudson Cos. Top Out 340-Unit Affordable Housing Project in New York City

by Alex Patton August 14, 2019

NEW YORK CITY — A partnership between two New York-based developers, Related Cos. and The Hudson Cos., has topped out Riverwalk Park, 340-unit affordable housing project on Roosevelt Island. Designed by Handel Architects, Riverwalk Park will house a mix of studio, one-, two-, and three-bedroom apartments in a single building. Sixty percent of Riverwalk Park’s units will be permanently affordable, with the remaining 40 percent affordable for 40 years. Construction is slated for completion in 2021.

August 14, 2019

Hospitality Massachusetts Northeast

Boston Properties Opens 272-Room Hotel in Boston

by Alex Patton August 14, 2019

BOSTON — Boston Properties has opened a 272-room hotel at The Hub on Causeway, a 2 million-square-foot mixed use development in Boston. Dutch brand citizenM will operate the hotel. The Hub houses direct connections to several entertainment and retail destinations in Boston, including the North Station transit line and TD Garden sports arena. California-based architecture firm Gensler designed the hotel, citizenM’s first property in the United States outside of New York.

August 14, 2019

Development Mixed-Use New York Northeast

Delshah Capital, OTL Enterprises Break Ground on 166,976 SF Mixed-Use Project in Brooklyn

by Alex Patton August 14, 2019

NEW YORK CITY — A partnership between two New York-based developers, Delshah Capital and OTL Enterprises, has broken ground on a 166,976-square-foot mixed-use project in Brooklyn. The property will offer 180 units of multifamily housing, 25 percent of which will be affordable housing. Healthcare and drug treatment provider START Treatment & Recovery Centers will occupy 15,000 square feet of office space within the tower, which will also house 2,000 square feet of retail space. Construction is slated for completion in 2021.

August 14, 2019

Loans Multifamily New York Northeast

Money360 Provides $13.2M Loan for Refinancing of Multifamily Property in Rochester, New York

by Alex Patton August 14, 2019

ROCHESTER, N.Y. — Money360, a California-based direct lender, has provided a $13.2 million bridge loan to refinance a multifamily property in Rochester, a city located about 70 miles east of Buffalo. The property includes ground-floor retail space. The non-recourse, three-year loan features a fixed interest rate with an interest-only amortization schedule. Ken Wood of Money360 originated the loan.

August 14, 2019

Colorado Development Multifamily Western

Origin Investments, Massimino Development Break Ground on 280-Unit Farm Haus Apartments in Colorado

by Amy Works August 14, 2019

LONGMONT, COLO. — A joint venture partnership between Chicago-based Origin Investments and Boulder-based Massimino Development has started construction of Farm Haus Apartments, a $68.8 million multifamily property located in Longmont. Situated on 13.5 acres at Ken Pratt and East Third avenues, the eight-story Farm Haus Apartments will feature 280 units in a mix of one-, two- and three-bedroom apartments. Units will range in size from 761 square feet to 1,412 square feet. Additionally, 12 percent of the units, 34 apartments, will be set aside for residents making 60 percent or less of area median income for the region. Farm Haus Apartments will include fully equipped lifestyle spaces with exterior patios; resort-style swimming pool and spa; outdoor entertainment areas with built-in barbecues; farmhouse tables set amongst tree orchards; custom water features; and outdoor firepits. Exterior amenities will include a bouldering area, bocce call court, dog park, playground and active game areas. Additionally, Farm Haus will include a fitness center, outdoor yoga plaza, postal center, pet spa, bike wash and ski tuning rooms. The community is expected to be delivered in phases beginning in the fourth quarter of 2020. The partnership is also developing Connect at First Creek, a $35 million, 150-unit …

August 14, 2019

Acquisitions Arizona Office Western

Buchanan Street Partners Sells Quattro Office Building in Phoenix for $43.5M

by Amy Works August 14, 2019

PHOENIX — Newport Beach, Calif.-based Buchanan Street Partners has completed the disposition of Quattro, an office building located at 4310-4350 E. Colton Center Blvd. in Phoenix. Boston-based Albany Road Real Estate Partners acquired the property for $43.5 million. Situated within Cotton Center business park, Quattro features 264,994 square feet of flex office space. Built in 2002, the asset was 92.5 percent leased at the time of sale. Current tenants include CVS Health, Freeport-McMoRan, Konica Minolta, Sodexo and Xerox. Tracy Cartledge, Bob Buckley and Steve Lindley of Cushman & Wakefield’s Phoenix office represented the seller in the deal.

August 14, 2019

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