IRVING, TEXAS — Gantry, a commercial mortgage banking firm based in San Francisco, has arranged a $10 million loan for the refinancing of Metroplex Plaza, a 105,000-square-foot shopping center in Irving. The center recently underwent a repositioning that introduced a new grocery anchor. Mark Ritchie and Austin Ridge of Gantry originated the 10-year, fixed-rate loan. The names of the direct lender and borrower were not disclosed.
MURFREESBORO, TENN. — Cushman & Wakefield has arranged a $76 million loan for the refinancing of Overall Creek Apartments, a 384-unit multifamily community located at 5150 Jack Byrnes Drive in Murfreesboro, about 33 miles southeast of Nashville. John Alascio, Chuck Kohaut and Chris Meloni of Cushman & Wakefield arranged the loan through PCCP on behalf of the borrower, Denholtz, a private investment management firm based in Red Bank, N.J. Built in 2020, Overall Creek was 94 percent occupied at the time of financing. The property offers one-, two- and three-bedroom residences averaging 1,057 square feet in size, as well as a courtyard with a pool and grill stations, fire pits, a dog park, hydro massage room, tanning bed, business center and a fitness center.
CLEMSON, S.C. AND BATON ROUGE, LA. — A joint venture between GMH Communities and AEW Capital Management has acquired two student housing communities in Clemson and Baton Rouge. The acquisitions included Dockside at Clemson, a 633-bed student housing property located near the Clemson University campus in South Carolina; and Flatiron, a 293-bed community located near Louisiana State University (LSU) in Baton Rouge. Dockside has been rebranded The Cove at Clemson as part of the acquisition. The property offers units in studio, one-, two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities include study rooms and lounges, a coffee bar, fitness center, lakefront boardwalk, game room, dog park and walking paths. Flatiron offers units in studio, one-, four- and five-bedroom configurations with bed-to-bath parity. Shared amenities include a fitness center, computer lab, pool, grilling station, yoga studio, clubhouse, dog park and study rooms. Mike Brady, Jake Wisness, Bill Maloney and Jake Davidson of JLL secured financing for the acquisition. Teddy Leatherman of JLL brokered the acquisition of the properties from seller Fountain Residential. Terms of the transaction were not released.
NEW BRAUNFELS, TEXAS — Topgolf has opened a 35,000-square-foot venue in New Braunfels, a northeastern suburb of San Antonio. The two-story facility is located within the 400-acre New Braunfels Town Center at Creekside master-planned development and features 62 climate-controlled hitting bays in addition to a full bar and restaurant. The venue is the 100th in the country for the Dallas-based sports entertainment company.
MURRELLS INLET, S.C. — Berkadia has brokered the sale of Waterleaf at Murrells Inlet, a 240-unit, garden-style apartment community located at 13 Muddy Bay Drive near Myrtle Beach. Caleb Troop, Mark Boyce, Jim Sewell, David Lansbury, Erika Maston, Blake Coffey, Thomas Colaiezzi and Matt Robertson of Berkadia represented the seller, Greenville, S.C.-based Graycliff Capital, in the transaction. North Carolina-based Chaucer Creek Capital purchased Waterleaf at Murrells Inlet for an undisclosed price. Jeremy Lynch and Jake Adoni of Berkadia’s Philadelphia office secured acquisition financing on behalf of the buyer. Built in 2018, the apartment community features one-, two- and three-bedroom apartments ranging in size from 726 to over 1,100 square feet. Amenities include a fitness center with cardio and weightlifting equipment; a clubhouse with a lounge, game room and fireplace; dog park with a wash station; a saltwater swimming pool; an outdoor entertainment area with a firepit; private garages; and a car wash station.
AUSTIN, TEXAS — Houston-based brokerage firm Oxford Partners has negotiated a 25,827-square-foot industrial lease in South Austin. According to LoopNet Inc., the building at 6301 E. Stassney Lane totals 109,203 square feet and was built in 2015. D.J. Hale of Oxford Partners represented the tenant, Austin Task Secure Doc Services, in the lease negotiations. Claudia Taylor of Stream Realty Partners represented the landlord, Clarion Partners.
DALLAS — Wealth Partners Alliance has signed a 9,673-square-foot office lease renewal and expansion in North Dallas. According to LoopNet Inc., the building at 12240 Inwood Road was built in 1982 and totals 34,663 square feet. Nathan Denton of Lee & Associates represented the tenant in the lease negotiations. Sean Dalton of Younger Partners represented the landlord.
NEW YORK CITY — A partnership between local owner-operator Slate Property Group and nonprofit supportive housing developer Breaking Ground has acquired the Stewart Hotel in Midtown Manhattan for $255 million with plans to implement an affordable housing conversion. Slate will develop the project, which will convert the 611-room hotel into a 579-unit apartment complex, and Breaking Ground will own and operate the property upon completion. The 31-story hotel, which is located across from Penn Station and closed in 2022, also features a 100-space underground parking garage, 12,000 square feet of ground-floor retail space and 3,500 square feet of ballroom space. All units will be reserved for low-income households and/or formerly homeless individuals, with rents to range from $1,385 to $1,731 per month. Construction is scheduled to begin late next year. As part of the redevelopment, the project team will replace all major utility and mechanical systems, upgrade lighting and merge adjacent hotel rooms into living spaces as needed. New office space will be constructed for onsite social services, and the building will also have full-time security and maintenance staff.
MORRISTOWN, N.J. — JLL has arranged a $176 million loan for the refinancing of a portfolio of six industrial properties totaling approximately 1.2 million square feet. Four of the properties are located in the Northern New Jersey communities of Carlstadt, Lyndhurst, Carteret and North Brunswick and feature clear heights of 16 to 25 feet. The other two properties are located in South Florida. Jim Cadranell, Gregory Nalbandian, Michael Lachs and Kevin Badger of JLL arranged the eight-year, fixed-rate loan through insurance giant Nationwide on behalf of the borrower, Seagis Property Group. The portfolio was 96 percent leased at the time of the loan closing.
NEW YORK CITY — Berkadia has provided $32.4 million in Freddie Mac financing for The Riverdale Tower, an 89-unit apartment building in The Bronx. The 18-story building was completed in 2024 and offers studio, one- and two-bedroom units that range in size from 400 to 900 square feet, 27 of which are earmarked as affordable housing. Amenities include a fitness center, community room, two patios and a pickleball court. Matt Nihan of Berkadia originated the 10-year, fixed-rate loan, which retires existing construction debt, on behalf of the borrower, Stagg Group. The building was fully occupied at the time of the loan closing.