Property Type

3541-3535-Big-Dalton-Ave-Baldwin-Park-CA

BALDWIN PARK, CALIF. — Big Dalton LLC has acquired a 24-unit apartment property located at 3541-3545 Big Dalton Ave. in Baldwin Park from HP Big Dalton for $6.3 million. Eric Chen and Justino Fa’aola of CBRE represented the buyer and seller in the deal. The community offers two-bedroom floor plans, with 50 percent of the units designed as single-story bungalows. Units feature quartz countertops, vinyl and carpeted flooring, wall-mounted AC units, select kitchen appliances, in-unit washer and dryer and private or shared patios.

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Millennium-Crest-Apartments-Denton

DENTON, TEXAS — Colliers Mortgage has provided a $55.9 million HUD-insured loan for the construction of Millennium Crest, a 245-unit multifamily project that will be located in the North Texas city of Denton. The property will offer 20 studios, 155 one-bedroom units and 70 two-bedroom units. Amenities will include a clubhouse, fitness center, pool, rooftop lounge and a dog park. Kevin Gould of Colliers Mortgage originated the debt, which carries a 40-year term and amortization schedule, on behalf of the developer, an entity doing business as Millennium Crest LP.

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YardHomes-Cottonwood-Creek-Hutto

HUTTO, TEXAS — Locally based firm Urban Moment Development has completed YardHomes Cottonwood Creek, a 293-unit build-to-rent residential project in the northern Austin suburb of Hutto. The development offers one-, two- and three-bedroom units that range in size from 635 to 1,391 square feet and have private fenced backyards. Units feature stainless steel appliances, quartz countertops, individual washers and dryers and smart technology. Amenities include an event lawn, pickleball court, fitness center and a dog park. Rents start at roughly $1,500 per month for a one-bedroom home.

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PUNTA GORDA, FLA. — Kitson & Partners has begun opening the first wave of retailers at The Shops at Yellow Pine, a 120,000-square-foot shopping center located within the master-planned community of Babcock Ranch in Punta Gorda. Situated north of Crescent B Commons, a Publix-anchored shopping center, The Shops at Yellow Pine comprises three multi-tenant buildings and two standalone outparcels along Cypress Parkway. Five Guys, Marshalls, Ace Hardware, Five Below and Hope Chiropractic are already open at the center, while Panera Bread, Jersey Mike’s Subs and Verizon Wireless are expected to open in June. Several more tenants will follow later in the year, including Carvel; Papa Johns; Yummy Thai and Chinese; HomeGoods; Ulta Beauty; Aesthetics Lounge & Spa; Fountain Pools; Tipsy Nail Salon; Seymour Orthodontics; Tampa General Hospital (TGH) urgent care and medical services; and seafood and steak restaurant Oar & Iron Raw Bar & Grill, which will occupy its own building overlooking Sunset Lake. Additionally, outdoor seating areas will be available for use throughout the development, which is slated to open this summer.

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SUMMERVILLE, S.C. — The Collier Cos. has closed on the purchase of a 10.7-acre parcel within the master-planned community of Nexton in Summerville, approximately 25 miles from downtown Charleston. The company plans to develop 360 new apartment homes on the site. Situated within walking distance from retail and dining options such as Publix, Harris Teeter and The Pickle Bar, the complex will feature studio, one-, two and three-bedroom apartments. Amenities at the property will include a fitness center, game area, pet spa, bocce ball court, yoga lawn, pickleball court, dog park, resort-style swimming pool and grilling stations. Collier Cos. anticipates to begin leasing at the community in early 2027.

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NORTH RICHLAND HILLS, TEXAS — Marcus & Millichap has brokered the sale of FreeUp Storage, a 145-unit self-storage facility located outside of Fort Worth in North Richland Hills. The facility spans 21,910 net rentable square feet across four climate-controlled units, 101 non-climate units, 34 indoor units and six commercial warehouse units. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, Spartan Investment Group, in the transaction. The duo also procured the buyer, locally based storage investment group Hinze Capital.

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FORTSON, GA. — BWE has provided a $32.3 million HUD 223(f) loan to refinance Greystone at Mulberry Grove, a 222-unit multifamily development located in Fortson, roughly 11 miles north of Columbus. Paul Harbor, Caleb Carter, Libby Davis and Maria Sealy of BWE’s Birmingham office originated the loan on behalf of the borrower, a Georgia-based developer. The HUD loan features a 35-year term and amortization schedule with a debt service coverage ratio of 1.15. The transaction represents BWE’s 10th closed deal with the undisclosed client. Situated at 4849 GA Highway 315, Greystone at Mulberry Grove comprises 22 residential buildings that feature one-, two- and three-bedroom floorplans. Unit sizes of the apartments range from 984 square feet to 1,728 square feet, according to Apartments.com. Amenities include a clubhouse and leasing office, fitness center, laundry room, package room, media room, billiard room, business center, demonstration kitchen, swimming pool with a sundeck, outdoor pavilion with a kitchen, car wash, dog park and spa, bike racks and a community garden. 

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ALLEN, TEXAS — Fibergrate Composite Structures has opened its new, 13,126-square-foot office headquarters at The Farm at Allen, a 135-acre mixed-use development located on the northeastern outskirts of Dallas. The space is located within the 102,000-square-foot, recently completed FARMWorks One building. Citadel Partners and Hanna Commercial represented the tenant in the negotiations for the lease, which was signed last fall. Newmark represented the landlord, JaRyCo.

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MYRTLE BEACH, S.C. — NAI Charleston has arranged the sale of a 57,659-square-foot shopping center located at 201-233 International Drive in Myrtle Beach. Built in 2014, the center sits on 6.4 acres, according to LoopNet. Lowes Foods anchors the center, which is leased to a mix of local and national tenants. Thomas Boulware and Michael Branch of NAI Charleston represented the buyer in the transaction. Drew Parks of Coldwell Banker Commercial represented the seller. Both parties requested anonymity and the sales price was not released.

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MONTGOMERY, ALA. — A partnership between Birmingham, Ala.-based The FiveStone Group, Bayer Ventures and New York City-based D&A Cos. is underway on the redevelopment of Old Cloverdale Village, an 11,000-square-foot retail property located in Montgomery’s Old Cloverdale District. The project team comprises CCR Architecture & Interiors, Pilgreen and Bostick Engineering Inc. and Prier Construction. The partnership also includes Fresh Hospitality and Charles Morgan. The historic Old Cloverdale Village is home to various locally owned restaurants, pubs, specialty shops and art galleries, as well as an independent arts cinema and a volunteer community theater. Southern restaurant concept Big Bad Breakfast is the first confirmed tenant at the property. Three additional suites are still available for lease. Along with the building’s restoration, the City of Montgomery and the project’s development team are collaborating on an improvement plan for existing infrastructure surrounding the property, including updated exterior lighting, landscaping and the addition of sidewalks. The redevelopment project is scheduled to be fully complete in the fourth quarter.

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