GLOUCESTER, VA. — S.L. Nusbaum Realty Co. has broken ground on Phase I of Riverbend Apartment Homes, a planned 130-unit affordable housing community in Gloucester. Phase I is expected to be complete in summer 2020. Phase II, which will add 88 units, is scheduled to break ground this spring and be delivered in late 2020. TS3 Architects, Bay Design Group, Details Ltd. and Siska Aurand Landscape Architects Inc. designed the community. Hoy Construction is the general contractor.
WEST COLUMBIA, S.C. — Domino’s Pizza has signed a 68,000-square-foot lease for a new processing and distribution facility in West Columbia. Construction is expected to begin in the first quarter of this year. Domino’s plans to add 75 jobs to the area. Hiring is scheduled to start in the fourth quarter of this year, with the facility being delivered in the second quarter of 2020. Ken Ashley, John Wilkinson and Whitney Hembree of Cushman & Wakefield, along with Lee Warfield of Cushman & Wakefield | Thalhimer, represented the tenant in the lease negotiations. The developer and landlord were not disclosed.
BOSTON — CBRE has arranged a $68 million loan to refinance Hub 25, a 278-unit apartment community in Boston. Located at 25 Morrissey Blvd, Hub 25 features a resort-style outdoor pool, city views, a 24-hour gym, theater and garage parking. John Kelly of CBRE secured the financing on behalf of the owner, Qianlong Morrissey LLC, through an undisclosed lender. Terms of the financing were not disclosed.
JERSEY CITY, N.J. — Progress Capital has secured a $21 million loan to refinance an 11-property multifamily portfolio in Jersey City. The 11 properties are located across the city. Kathy Anderson of Progress Capital secured the financing on behalf of the undisclosed borrower. The non-recourse loan includes a 20-year term with a 30-year amortization schedule. The lender was undisclosed.
KILGORE AND NACOGDOCHES, TEXAS — Amesbury Cos., a Louisiana-based development and investment firm, has refinanced a portfolio of three multifamily properties totaling 452 units in East Texas. The properties include the 124-unit Glen Hollow Apartments in Kilgore; and the 120-unit Stone Creek Apartments and the 208-unit Sunridge Apartments in Nacogdoches. All properties feature pools and community rooms. New York-based Greystone provided the FHA and Fannie Mae loans, which total approximately $19 million, to Amesbury.
NEWARK, N.J. — Paramount Assets has acquired 17 Academy Street, a 100,000-square-foot, 12-story office building in Newark’s Four Corners Historic District. The sales price was undisclosed. Built in 1926, the property was 70 percent occupied at the time of sale by a variety of professional services firms. Situated between Halsey and Broad streets, 17 Academy Street is directly across the street from the world headquarters of the Prudential Insurance Co. and is within walking distance of public transportation. Paramount Assets already owns three other properties on the same street, 31 Academy, 27 Academy and 45 Academy.
KYLE, TEXAS — Chicago-based NXT Capital has provided a $28 million loan for the acquisition of a 264-unit apartment community in Kyle, located about 20 miles southwest of Austin. Amenities at the undisclosed property include a pool, fitness center, outdoor gazebo with a TV and a business center. Casey Knust of CBRE placed the loan with NXT Capital on behalf of the undisclosed borrower.
HOUSTON — Hunt Capital Partners has arranged a $7.2 million loan for the acquisition and rehabilitation of Anna Dupree Terrace, a 151-unit seniors housing community in Houston. The development serves elderly households whose tenants are 62 years or older or who have disabilities. Upon completion of the renovation, which is scheduled for May 2020, the property will feature amenities such as a computer lab, beauty salon and outdoor picnic areas. The borrower was not disclosed.
HOUSTON — NAI Partners has negotiated a 19,865-square-foot office lease at 1360 Post Oak Blvd. in Houston for U.S. Well Services, a provider of hydraulic fracturing solutions. Dan Boyles and Liz Westcott-Brown of NAI Partners represented U.S. Well Services in the lease negotiations. Morgan Relyea Colt of Cushman & Wakefield represented the landlord.
KATY, TEXAS — Marcus & Millichap has arranged the sale of a 10,500-square-foot retail property net-leased to Walgreens in Katy, a western suburb of Houston. James Bell of Marcus & Millichap represented the buyer, a limited liability company that acquired the property via a 1031 exchange. Other terms of sale were not disclosed.
