MIAMI — Funds managed by Trinity Investments and Certares Real Estate Management have sold EAST Miami, a 352-room hotel located within the $1.1 billion Brickell City Centre mixed-use development. Funds affiliated with Blackstone Real Estate purchased the hotel for an undisclosed price. Built in 2016, EAST Miami features guest rooms, 89 serviced apartments and Sugar, a rooftop bar and dining venue. Trinity Investments and Certares acquired the property in 2021 from Swire Properties, the master developer of Brickell City Centre. Swire Hotels continues to operate the hotel under the company’s EAST hospitality brand.
GAINESVILLE, FLA. — KeyBank Community Development Lending and Investment has provided a $13 million construction loan to National CORE, a nonprofit developer, to finance Hawthorne Heights, an 86-unit affordable seniors housing project in Gainesville. KeyBank Commercial Mortgage Group also provided a $6.5 million Freddie Mac permanent loan for the project. National CORE also secured additional funding from Red Stone, which provided Low-Income Housing Tax Credit (LIHTC) equity and bonds from the Florida Housing Finance Corp. The property qualifies for tax abatement, which provides tax exemption for nonprofit-owned properties that commit to using it for providing affordable housing for a minimum of 99 years. Hawthorne Heights will serve seniors age 62 and older, with five units specifically set aside for individuals with special needs. The five-story building will be constructed on a 3-acre site, and, in addition to the special-needs units, will offer three apartments for residents earning no more than 22 percent of the area median income (AMI), nine apartments for households earning up to 40 percent of AMI and 74 apartments for households earning 60 percent or below AMI. Completion of Hawthorne Heights is slated for November 2026, and the lease-up period is expected to begin in August 2026. National …
GREENEVILLE, TENN. — Matthews has negotiated the sale of Greeneville Commons, a 224,139-square-foot shopping center located in Greeneville, a city in northeast Tennessee near the North Carolina border. Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews represented the undisclosed seller, a repeat institutional client, in the transaction. Matthews also procured the buyer, an affiliate of Hackney Real Estate Partners. The sales price was not disclosed. Greeneville Commons was more than 90 percent leased at the time of sale to tenants including Ross Dress for Less, Hobby Lobby, Five Below, Marshalls, Bath & Body Works, Workout Anytime, Xfinity, GNC and Rack Room Shoes.
BATON ROUGE, LA. — Marcus & Millichap has brokered the $6.8 million sale of Village Square, a 47,000-square-foot shopping center located at 3132 College Drive near the Louisiana State University (LSU) campus in Baton Rouge. Situated near the intersection of I-10, the property is shadow-anchored by Walmart and was leased to tenants including Office Depot, Sally Beauty, Coffee Call, Classy Nails, Teatery & Tapioca and Juicy Seafood at the time of sale. Zach Taylor and Eric Abbott of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, an unnamed developer based in Tennessee, in the transaction. Steve Greer served as Marcus & Millichap’s broker of record in Louisiana in the deal. The buyer was not released. Don McMinn and Andrew Koriwchak of Taylor McMinn Retail Group also negotiated the $5.2 million sale of Village Square’s two outparcels, which are leased to Capital One and IHOP, in May on behalf of the same seller.
TYSONS, VA. — The Meridian Group has signed five retailers to join the tenant lineup at The Boro, a transit-oriented, mixed-use development in the Northern Virginia city of Tysons. The new tenants include TileBar, Game Show Battle Rooms, Fava Pot, California Closets and NOVA Plastic Surgery & Dermatology. All five retailers plan to open their locations between late 2025 and early 2026. Ed Crilley of H&R Retail handles the retail leasing assignment at The Boro on behalf of ownership.
DALLAS AND FORT WORTH, TEXAS — JLL has brokered the sale of the DFW Bulk Portfolio, a collection of four industrial buildings totaling approximately 1.7 million square feet across 122.6 acres in Dallas-Fort Worth. The names and addresses of the buildings, which were completed between 1999 and 2017, were not disclosed, but they are located in the North Fort Worth, East Fort Worth and Great Southwest submarkets. The portfolio, which was fully leased to six tenants at the time of sale, features a total of 318 dock-high doors, 13 grade-level doors and parking for 1,094 cars and 179 trailers, as well as average clear heights and truck court depths of 33 and 162 feet, respectively. Trent Agnew, Tom Weber, Pauli Kerr, Keenan Ryan and Brennan Fewin of JLL represented the undisclosed seller in the transaction. The buyer was a fund backed by Los Angeles-based Ares Real Estate.
TULSA, OKLA. — BOK Financial has provided a $45 million acquisition loan for 222 North Detroit, a 260,283-square-foot office building in Tulsa. Completed in 2022, the 11-story building is located within the city’s central business district and was 95 percent leased at the time of the loan closing to tenants in the energy, legal, financial services and construction materials industries. Greg Napper, Blake Morrison and Brody Rule of JLL arranged the loan on behalf of the borrower, Fenway Capital Advisors.
ARLINGTON, TEXAS — Houston-based investment firm Welcome Group has purchased a 100,129-square-foot industrial building in Arlington. The single-tenant building at 3101 Pinewood Drive was constructed on 4.6 acres in 1977 and renovated in 2021. According to LoopNet Inc., building features include 22-foot clear heights, 13 dock-high loading doors and four grade-level doors. The seller and sales price were not disclosed.
AUSTIN, TEXAS — EōS Fitness will open a 40,000-square-foot gym at 12707 N. MoPac Expressway in North Austin. The Dallas-based operator is backfilling a space previously occupied by Fry’s Electronics. Rise Commercial Partners represented the tenant in the lease negotiations. Global Commercial Real Estate Services represented the undisclosed landlord. The opening is set for 2027.
KELLER, TEXAS — Locally based brokerage firm LanCarte Commercial has arranged the sale of two industrial buildings totaling 9,800 square feet and a 2.9-acre land parcel in Keller, located north of Fort Worth. The properties are all located along South Main Street. Mark Boone and Matt Murff of LanCarte Commercial represented the buyer and seller, both of which requested anonymity, in the transaction.