Property Type

Gantry Secures $59.6M in Acquisition Financing for Three Multifamily Communities in Florida, Virginia

by John Nelson April 9, 2025

TALLAHASSEE, FLA. AND NEWPORT NEWS, VA. — Gantry has secured three loans totaling $59.6 million for the acquisition of three apartment communities in Florida and Virginia. The properties, which total 249 units, include Sanctuary Apartments and Serenity Court Apartments in Tallahassee and Jimmy Apartments in Newport News. All three properties were acquired out of receivership and funded for repositioning, improvements and new leasing programs. Mark Reichter and Alec Frook of Gantry’s Kansas City production office arranged the loans through one of the firm’s life company lenders on behalf of the borrower, a private real estate investor. The bridge loans include upfront interest-only terms followed by 30-year amortization schedules and include capital expenditure funds. Gantry will service the loans.

April 9, 2025

Acquisitions Industrial Loans North Carolina Southeast

JLL Negotiates Sale of 652,647 SF Industrial Portfolio in Metro Charlotte, Raleigh-Durham

by John Nelson April 9, 2025

CHARLOTTE, N.C. — JLL has negotiated the sale of a five-property industrial portfolio spanning 652,647 square feet in submarkets in the Charlotte and Raleigh-Durham areas. The specific properties were not released. Pete Pittroff, Michael Scarnato, Dave Andrews and Michael Lewis of JLL represented the seller, LM Real Estate Partners, in the transaction. Lightstone purchased the portfolio for an undisclosed price. Peter Rotchford and Taylor Allison of JLL arranged a seven-year, fixed-rate acquisition loan for Lightstone through Voya Investment Management. According to JLL, the portfolio offered a value-add opportunity to the buyer as there is 116,000 square feet of availability and in-place rents roughly 27 percent below market rates. The 12 tenants in the portfolio have about 3.6 years of WALT (weighted average lease term) remaining.

April 9, 2025

Acquisitions Hospitality Loans Louisiana Southeast

Hunter Brokers Sale of 294-Room Crowne Plaza Executive Center Baton Rouge Hotel in Louisiana

by John Nelson April 9, 2025

BATON ROUGE, LA. — Atlanta-based Hunter Hotel Advisors has brokered the sale of Crowne Plaza Executive Center Baton Rouge, a 294-room hotel located near the campus of Louisiana State University (LSU) and Tiger Stadium. APM Property Holdings LLC purchased the hotel from a private seller for an undisclosed price and has selected Schulte Hospitality to operate the hotel. The Crowne Plaza features an outdoor pool, a 3,000-square-foot fitness center, the Patio Grille and Lounge restaurant and more than 32,000 square feet of flexible event space, including 17 meeting rooms and three ballrooms. Tim Osborne and Kami Burnette of Hunter brokered the transaction. Additionally, Adeel Amin of Hunter arranged an $11.7 million acquisition loan that was underwritten at a 65 percent loan-to-value ratio with interest-only payments over the three-year term.

April 9, 2025

Leasing Activity Retail Texas

EōS Fitness Leases 40,000 SF at San Jacinto Marketplace in Baytown, Texas

by Taylor Williams April 9, 2025

BAYTOWN, TEXAS — Dallas-based EōS Fitness has leased 40,000 square feet of retail space in Baytown, an eastern suburb of Houston, for a new gym. The space is located within San Jacinto Marketplace, which is a redevelopment of the former San Jacinto Mall. Locally based developer Fidelis Realty Partners owns San Jacinto Marketplace. The opening is slated for 2027.

April 9, 2025

Loans Maryland Restaurant Retail Southeast Virginia

MMCC Arranges $17M Refinancing for Retail Portfolio in Metro D.C.

by John Nelson April 9, 2025

SILVER SPRING, MD. AND FAIRFAX, VA. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $17 million loan for the refinancing of a nine-property retail portfolio located in the Washington, D.C. suburbs of Silver Spring, Md., and Fairfax, Va. The properties — which total roughly 71,000 square feet — include multi-tenant retail strip centers, single-tenant retail properties and single-tenant restaurants. Jared Cassidy of MMCC’s D.C. office secured the five-year loan through a local bank. The financing carries a 12-month adjustable rate, 25-year amortization schedule and a 55 percent loan-to-value ratio.

April 9, 2025

Acquisitions Arizona Build-to-Rent Single-Family Rental Western

CBRE Brokers $95.7M Sale of Bella Encanta BTR Community in Mesa, Arizona

by Amy Works April 9, 2025

MESA, ARIZ. — CBRE has negotiated the sale of Bella Encanta, a build-to-rent (BTR) community in Mesa. Bela Flor Communities sold the asset to a global institutional investor for $95.7 million. Griffen Tymins, Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the Mesa-based seller in the deal. Completed in 2023, the 212-unit property features duplex-style homes with wood-style plank flooring, nine- and 10-foot ceilings, full-size washers/dryers, granite countertops, undermount sinks, eat-in islands, stainless steel appliances, gas cooktops, Shaker-style cabinetry and subway tile backsplashes, as well as a private two-car attached garage with electric vehicle charging capabilities. Community amenities include a resident clubhouse with a fitness center with climbing wall, demonstration kitchen, billiards table, leasing office, conference room, meeting space and seating areas. Outdoor amenities include soccer fields, two pet parks with a wash station, a sand volleyball court, a basketball half-court, two pickleball courts, a children’s playground, walking paths and multiple picnic areas with barbecue grills.

April 9, 2025

California Development Healthcare Western

Archer, REDA to Redevelop 78,000 SF Office Building in Newport Beach, California into Medical Outpatient Property

by Amy Works April 9, 2025

NEWPORT BEACH, CALIF. — A joint venture between Archer Property Partners and Real Estate Development Associates (REDA) has approval from the Newport Beach Planning Commission to redevelop the 78,000-square-foot office building at 3300 Irvine Ave. in Newport Beach into Newport Irvine Medical Center. The joint venture originally acquired the asset in 2023 for $18.5 million. The three-story Newport Irvine Medical Center will feature a three-story atrium, modernized common areas and elevators and a flexible, future-proof design to adapt for changing medical technologies and patient needs. The partnership plans to break ground on the project’s new parking structure in June and begin full building renovations in September, with project completion slated for spring 2026 and tenant move-ins in summer 2026. MedWest Realty will handling leasing for Newport Irvine Medical Center.

April 9, 2025

Acquisitions California Retail Western

Capstone Advisors Sells Poway Valley Retail Property in California for $11.6M

by Amy Works April 9, 2025

POWAY, CALIF. — Capstone Advisors has completed the disposition of Poway Valley Center, a shopping center in Poway, to Badal Satasiya for $11.6 million. Located at 13314-13340 Poway Road, the property offers 24,802 square feet of retail space with 16 tenants, including Little Sprouts Daycare, Wingstop, Poway Irish Pub, Don Pollo Mexican Food and Bongiorno’s Pizzeria. Reg Kobe, Joel Wilson and Michael Peterson of CBRE represented the seller, while Jimmy Leach and Erik Ransdell of Strands Realty Group represented the buyer in the deal.

April 9, 2025

Development Industrial Western Wyoming

Earthcore Industries to Build 30,000 SF Distribution Center in Cheyenne, Wyoming

by Amy Works April 9, 2025

CHEYENNE, WYO. — Earthcore Industries, a Jacksonville, Fla.-based manufacturer and distributor of Isokern fireplaces and chimney systems, is constructing a distribution center in Cheyenne. The 30,000-square-foot facility will streamline Earthcore’s service to its Northwest and Upper Midwest distribution and dealer networks. The project team includes Cheyenne-based Richardson Construction Co. and Fort Collins, Colo.-based VFLA Architecture + Interiors. Groundbreaking is scheduled for April 10.

April 9, 2025

Acquisitions Colorado Retail Western

Summit HC Real Estate Buys 2,250 SF Retail Building in Aurora, Colorado

by Amy Works April 9, 2025

AURORA, COLO. — Summit HC Real Estate LLC has acquired a standalone retail building at 390 S. Dayton St. in Aurora from Elianna LLC for $1.2 million, or $542.22 per square foot. The buyer plans to operate its home healthcare business, Summit Home Care, at the 2,250-square-foot building, which features 26 reserved surface parking spaces and prominent signage. Manijeh Saeidi of Brokers Guild Real Estate represented the buyer, while John Propp of John Prop Commercial Group represented the seller in the deal.

April 9, 2025

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