CLINTON TOWNSHIP, MICH. — Bernard Financial Group (BFG) has arranged a $3.6 million loan for the acquisition of an 80,160-square-foot industrial property in Clinton Township, a northern suburb of Detroit. Joshua Bernard of BFG arranged the loan on behalf of the borrower, BKG Dominion Capital Blvd LLC. A life insurance company provided the loan.
DALLAS — South Florida-based Sunrise Realty Trust (NASDAQ: SUNS) has provided $46.5 million in financing for The Boheme, a 352-unit apartment building in Dallas. The financing is part of a $62 million senior loan that refinances the property, which is owned by San Antonio-based Kairoi Residential. The Boheme is an eight-story building in the Bishop Arts District that was completed in 2023. Units come in studio, one- and two-bedroom floor plans, according to Apartments.com, and amenities include a rooftop pool, coworking lounge with private meeting rooms, courtyards and a game lounge.
FORT WORTH, TEXAS — Locally based owner-operator Trademark Property Co. will develop Westbend Residences, a 321-unit multifamily project that will be located in Fort Worth’s University District. The site spans 3.5 acres within Trademark’s Westbend mixed-use development that fronts the Clear Fork Trinity River. Units will come in one-, two- and three-bedroom floor plans, and a few penthouses will also be available on the top floor. Amenities will include two elevated resort-style pools, a fitness center and a dog spa, as well as 4,500 square feet of retail space. Construction is set to begin in the second quarter and to be complete in late 2026.
DALLAS — A partnership between two locally based investment firms, Discover Multifamily and Rainier Cos., has acquired 1001 Ross, a 204-unit apartment building in the historic West End area of downtown Dallas. The mid-rise property, which was built in 2004 and includes 30,506 square feet of retail space, offers one- two- and three-bedroom units. Amenities include a pool, fitness center, outdoor grilling and dining stations, coffee bar, resident lounge and a coworking space. The seller and sales price were not disclosed. The new ownership plans to implement a value-add program and rebrand the property as The Griffin.
ATLANTA — HOA Restaurant Group, parent company of restaurant chain Hooters, has filed for Chapter 11 bankruptcy protection, entering into a Restructuring Support Agreement (RSA) that will facilitate the continued operation of the company’s restaurants under new ownership. Hooters restaurants will continue to operate as usual throughout the bankruptcy process. A partnership between two existing Hooters franchisees, Hooters Inc. and Hoot Owl Restaurants, reached an agreement with Hooters of America (HOA) to acquire more than 100 HOA-owned Hooters restaurants, which, when added with the franchisees’ existing holdings, will account for approximately 70 percent of Hooters’ domestic locations. Upon completion of the Chapter 11 process, all Hooters locations will be franchisee-owned. Hooters Brand Management (HBM) will provide most of the franchise support for the company, including oversight of the national ad fund, the central purchasing organization and franchise development and support. North Point Mergers & Acquisitions represented the buying group, Hooters Inc. and Hoot Owl Restaurants, while Morrison & Foerster LLP is serving as their legal counsel.
FORT WORTH, TEXAS — The Endeavor Group Real Estate (EGRE), a Wyoming-based firm, is nearing completion of the renovation of a 140-unit seniors housing complex in Fort Worth. The property at 8000 Calmont Ave., which is located in the Las Vegas Trail submarket on the city’s west side, is now known as Manor Independent Living. The renovation, which began about a year ago following EGRE’s acquisition of the property, serves to increase the community’s affordability. Leasing is now underway, with rents starting at $1,900 per month, a price that includes three meals per day. Residents will also have access to round-the-clock medical care.
PORTLAND AND EDINBURG, TEXAS — Houston-based brokerage firm Baker Katz has arranged two leases in South Texas for Olive Garden. The first deal is for a 7,805-square-foot restaurant in Portland, located outside of Corpus Christi, and the second deal is for a 7,825-square-foot space in the Rio Grande Valley city of Edinburg. Lynann Pinkham of Cravey Real Estate Services represented the landlord in the Portland transaction, and Ron Reimer of First Hartford Realty represented the landlord in the Edinburg transaction. Jason Baker and Traci Holman of Baker Katz represented the parent company and operator, Orlando-based Darden Restaurants Inc. The openings are slated for the second quarter of 2025 and sometime in 2026, respectively.
ATLANTA — Shorenstein Investment Advisors has begun capital improvements at 14th & Spring, a 12-story, 324,000-square-foot office building located at 1150 Spring St. NW in Midtown Atlanta. The renovations include a complete repositioning of the lobby and expanded first-floor amenities, including an onsite café and bar, fitness center, conference center and the connected outdoor terrace. The overhaul will also include the build-out of a full floor of speculative office suites on the third floor totaling 28,500 square feet. Locally based law firm Cushing, Morris, Armbruster, & Montgomery LLP has preleased one of the new spec suites, with plans to relocate from its current downtown office this summer. Additionally, Shorenstein has partnered with George Banks for a new eatery at 14th & Spring. Shorenstein has owned the office building since July 2024 and has since executed 100,000 square feet of leases, including HTNB Corp.’s three-floor lease last fall. The office building was delivered in 2022. ASD | SKY is serving as the design architect for the lobby repositioning and first-floor amenity package, while Murphy Meyers is the design architect for the spec suites. Jeff Keppen, Kyle Kenyon and Nicole Goldsmith of CBRE are the exclusive leasing agents for the property.
MIAMI — Los Angeles-based Metrobloks has purchased four acres at 500 N.W. 137th Ave. in Miami’s Airport West submarket. The firm plans to develop a 15.2-megawatt data center at the site, which is situated at the intersection of Northwest 6th Street and 137th Avenue. Matthew Bittel and Stuart Gordon of Cushman & Wakefield represented Metrobloks in the land sale. Carlos Gaviria of Transwestern Real Estate Services represented the previous land owner, Sagard Real Estate. Metrobloks plans to begin operations at the new multi-tenant, AI-ready data center by the end of 2026.
LAGRANGE, GA. — Ackerman/Pioneer Land Advisory Group has arranged the $1.5 million sale of a two-acre site within Selig Enterprises’ Sola mixed-use development in LaGrange. The buyer, Noble Investment Group, plans to develop a 124-room, four-story StudioRes by Marriott hotel at the site. Located at 101 Timberwolf Drive, which is 69 miles southwest of Atlanta via I-85, the property will be situated near Great Wolf Lodge Water Park. John Speros, J.T. Speros and Kyle Gable of Ackerman/Pioneer Land represented Noble Investment in the land acquisition.