Property Type

Alaka’i Development Receives Construction Financing for $135M Dual-Branded Hotel Project in Oahu

by Amy Works September 9, 2024

OAHU, HAWAII — Alaka’i Development has received construction financing for a $135 million dual-branded Hyatt Place and Hyatt House Hotel at Ewa Beach in Oahu. Bruce Francis, Bob Ybarra, Shaun Moothart, Doug Birrell, Nick Santangelo, Amber Coleman and Jim Korinek of CBRE’s Capital Market’s Debt and Structured Finance team secured the financing and joint venture equity for the Hawaii-based developer. Situated on 3.4 acres at 91-3456 Nana Hope St., the 240-key property will feature 108 Hyatt Place guest rooms and 132 Hyatt House extended-stay rooms, 19 of which include balconies and 86 kitchenettes. The five-story building will offer an outdoor swimming pool and spa, 3,009 square feet of meeting space, a dining room, business center and fitness center.

September 9, 2024

Acquisitions California Multifamily Western

CBRE Facilitates Sale of 118-Unit EVIVA Midtown Apartments in Sacramento

by Amy Works September 9, 2024

SACRAMENTO, CALIF. — CBRE has arranged the sale of EVIVA Midtown, a Class A multifamily property in Sacramento. Sequoia Equities and Coit Financial sold the asset to CONAM, an affiliate entity of The CONAM Group’s Fund IV, for an undisclosed price. Marc Ross and Hasina Ahmadi of CBRE represented the sellers in the deal. Located at 1531 N. St., the six-story community offers 118 studio, one- and two-bedroom units with open floor plans, floor-to-ceiling windows, in-unit washers and dryers and Energy Star-rated stainless steel appliances. Community amenities include 5,639 square feet of retail space, a 24-hour fitness center, community lounge, fire pit, outdoor courtyard and 124 enclosed garage parking spaces.

September 9, 2024

Development Loans Multifamily Washington Western

Cushman & Wakefield Arranges $25.3M Construction Loan for Saltese Creek Multifamily Project in Spokane, Washington

by Amy Works September 9, 2024

SPOKANE, WASH. — Cushman & Wakefield has secured $25.3 million in construction financing on behalf of Hawkins and its partners for the development of Saltese Creek, an apartment property in Spokane. Chris Moyer, Paul Roeter and Meredith Donovan of Cushman & Wakefield arranged the financing through Bok Financial on behalf of the borrower. Situated just south of the intersection of S. Tschirley Road and E. 6th Avenue, Saltese Creek will feature 192 one-, two- and three-bedroom apartments spread across six mid-rise, garden-style residential buildings. The community will also offer a 4,128-square-foot clubhouse with a fitness center, dog wash, indoor/outdoor lounge, barbecue areas and a swimming pool.

September 9, 2024

Development Healthcare Nevada Office Western

Agora Realty Completes 42,000 SF Medical Office Building in North Las Vegas

by Amy Works September 9, 2024

NORTH LAS VEGAS, NEV. — Agora Realty & Management Inc. has completed the construction of a medical office building within NLV Gateway, a 29-acre master-planned redevelopment of downtown North Las Vegas. Pueblo Medical Imaging Services will occupy 7,500 square feet of the 42,000-square-foot medical office. In total, Agora Realty has invested more than $200 million to support development of NLV Gateway that will add 200,000 square feet of retail and restaurants and 125,000 square feet of office and medical office space, along with public spaces. Construction on the balance of NLV Gateway is scheduled to be completed by 2026.

September 9, 2024

Loans Multifamily Seniors Housing Washington Western

Ziegler Arranges $13.3M Financing for Bayview Retirement Community in Seattle

by Amy Works September 9, 2024

SEATTLE — Ziegler has arranged $13.3 million in bond financing for Bayview Retirement Community in Seattle. The Washington State Housing Finance Commission issued the bonds. Bayview Manor Homes, which owns and operates Bayview Retirement Community, is a Washington nonprofit corporation and 501(c)(3) organization that was established in 1961 to care for the elderly residents of Seattle’s Queen Anne neighborhood and beyond. The community features 133 independent living apartments and 44 assisted living apartments, which includes 10 memory care units. Bayview also operates an intergenerational childcare center located at the community for up to 42 children. The proceeds of the Series 2024 Bonds, together with other available funds of the corporation, will be used to pay or reimburse costs incurred by Bayview in connection with the installation of new exterior windows across the majority of the community, as well as to make improvements to unit balconies, fund predevelopment costs of a future project and undertake routine capital improvements as determined by management.

September 9, 2024

Company News Midwest Ohio Retail Top Stories

Big Lots Files for Chapter 11 Bankruptcy, Enters into Sale Agreement with Nexus Capital

by Taylor Williams September 9, 2024

COLUMBUS, OHIO — Big Lots (NYSE: BIG) has filed for voluntary Chapter 11 bankruptcy protection and has entered into a sale agreement with Los Angeles-based private equity firm Nexus Capital Management, a deal that would take the Ohio-based discount retailer private. Under the terms of the agreement, Nexus will serve as the “stalking horse bidder” (the approved investor that sets the low-end bar for a bankrupt company) in a court-supervised auction to acquire “substantially all” of Big Lots’ physical assets and ongoing business operations. Big Lots expects to keep the majority of its stores and online platform open and operational during the reorganization process as well as to be able to pay its employees and “certain critical vendors in the ordinary course of business.” The sale is expected to close during the fourth quarter, assuming Nexus is the winning bidder. In connection with this court-supervised process, Big Lots has secured commitments for $707.5 million in debtor-in-possession (DIP) financing, including $35 million in new financing from certain current lenders. Coupled with cash from ongoing operations, the financing is expected to provide sufficient liquidity for the sale process. The announcement comes after multiple reports of an imminent bankruptcy filing for Big Lots, …

September 9, 2024

Florida Market Reports Restaurant Retail Southeast Southeast Market Reports

Stakeholders Are Navigating the Evolving Landscape of Retail Leasing in Orlando

by John Nelson September 9, 2024

The commercial real estate market, particularly in the retail leasing sector, has been navigating a complex and dynamic landscape over the past few years. With a blend of high demand, limited supply and fluctuating economic variables, the Orlando market presents both challenges and opportunities for developers, landlords and tenants alike. High demand, limited supply One of the most prominent trends in the Orlando retail leasing market is the high demand for quality retail spaces. Retailers are eager to establish and expand their presence in this thriving market, driven by a growing population and increasing consumer spending. However, the inventory of quality existing retail bays is incredibly scarce. This scarcity has created a competitive environment where desirable locations are quickly snapped up, often at premium prices. The supply-demand imbalance has pushed developers to sharpen their pencils and critically analyze the feasibility of new projects. Despite the strong demand, many deals struggle to pencil out due to the high costs of construction materials and labor. These costs have remained elevated, making it challenging for developers to achieve a satisfactory return on investment. As a result, some projects are delayed or shelved, further constraining the supply of retail space. Housing spurs development The …

September 9, 2024

Development Multifamily Student Housing Texas

Hoar Construction Tops Out 30-Story Icon Student Housing Tower at UT Austin

by Taylor Williams September 6, 2024

AUSTIN, TEXAS — Hoar Construction has topped out Icon, a 30-story student housing tower in the West Campus neighborhood of the University of Texas at Austin. The MDL Group is the developer for the project, which will house 555 beds across 216 units ranging from one- to five-bedroom layouts. Amenities will include a rooftop pool, fitness center, game and lounge rooms, podcast studio and student workspaces. The project will also feature four levels of below-ground parking. Project partners include Rhode Partners (architect), DCI Engineers (structural engineer) and Blum Engineering (mechanical, electrical and plumbing). Construction began last spring. Completion is slated for summer 2025.

September 6, 2024

Industrial Leasing Activity Texas

Stream Realty Partners Negotiates 432,316 SF Industrial Lease Near Port Houston

by Taylor Williams September 6, 2024

HOUSTON — Stream Realty Partners has negotiated a 432,316-square-foot industrial lease near Port Houston. The tenant, Gulf Coast Crating, is taking space at Portside Logistics Center, a two-building, 1 million-square-foot speculative development on Houston’s southeast side. Jeremy Lumbreras and Tyler Maner of Stream, which owns the property in a joint venture with Principal Asset Management, represented ownership in the lease negotiations on an internal basis. Patrick McKiernan and James Mashni of First Houston Properties Inc. represented the tenant. The deal brings Building 1 at Portside Logistics Center to full occupancy.

September 6, 2024

Acquisitions Retail Texas

Matthews Arranges Sale of 115,736 SF Shopping Center in Frisco

by Taylor Williams September 6, 2024

FRISCO, TEXAS — California-based brokerage firm Matthews Real Estate Investment Services has arranged the sale of Main Marketplace, a 115,736-square-foot shopping center located north of Dallas in Frisco. The center comprises nine buildings on a 14.6-acre site. At the time of sale, Main Marketplace was 97 percent leased to tenants such as Capriotti’s Sandwich Shop, Flix Brewhouse and Texas Family Fitness. Baylor Worman and Grayson Duyck of Matthews represented the buyer, a Texas-based private investor, in the all-cash transaction. Michael Austry and Jared Aubrey of CBRE represented the seller.

September 6, 2024

Newer Posts

Older Posts