SAN ANTONIO — Retail Properties of America Inc. (RPAI) has secured two new retail leases totaling 7,300 square feet at Huebner Oaks, a 285,000-square-foot, open-air shopping destination in San Antonio. Jeweler James Avery will open a 6,100-square-foot store and francesca’s, a women’s clothing and accessories retailer, will open a 1,200-square-foot store. The stores are scheduled to open in the summer of 2018 and early 2019, respectively.
RALEIGH, N.C. — YMCA of the Triangle has unveiled plans to develop a $41 million recreation center and school located at 1436 Rock Quarry Road in southeast Raleigh. The project is being funded with $21 million in New Markets Tax Credit (NMTC), and a loan from SunTrust Community Capital. CAHEC New Markets LLC, a subsidiary of Raleigh-based CAHEC, a nonprofit tax credit equity syndicator, provided YMCA of the Triangle with $15 million in NMTC allocations, and SunTrust provided the remaining $6 million. Tax Advantage Group provided NMTC advisory services to YMCA of the Triangle. The new facility will house a 42,960-square-foot recreation center with a wellness area, gymnasium and group exercise studio, as well as a 71,980-square-foot building that will be operated and leased to the Wake County Public School System. The new YMCA center will create 28 permanent jobs in the area, as well as 129 construction jobs during the development phase. The project is slated for completion in August 2019.
ORLANDO, FLA. — Franklin Street has brokered the $16.9 million sale of CaSienna Apartments, a 160-unit multifamily community located at 5703 Stoneridge Court in Orlando. Robert Goldfinger, Darron Kattan, Kevin Kelleher and Zachary Ames of Franklin Street arranged the transaction on behalf of both the seller, SR Apartments LLC, and the buyer, an undisclosed partnership. CaSienna Apartments was constructed in 1972 and 1973 and comprises 16 one- and two-story buildings. Community amenities include two swimming pools, a clubhouse, tennis courts, a playground and extra storage space for residents.
DAYTONA BEACH, FLA. — SVN Alliance has arranged the $11.5 million sale of a four-building office portfolio in Daytona Beach. Chris Butera, Carl Lentz IV, John Trost and Tim Davis of SVN Alliance arranged the transaction on behalf of the buyer, an undisclosed private investor, and the seller, Consolidated Tomoka Land Co. The portfolio included the two-story Concierge building located at the northeast corner of LPGA Boulevard and Williamson Boulevard, two buildings within Mason Commerce Center and a building within Williamson Business Park. Consolidated Tomoka developed the buildings between 2008 and 2014. The portfolio was fully leased at the time of sale.
GLEN ALLEN, VA. — MCR has acquired the 136-room SpringHill Suites by Marriott Richmond North Glen Allen for $10.9 million. The hotel is located at the intersection of Interstates 295 and 95 in Glen Allen, roughly 13 miles north of Richmond. The hotel features an indoor pool, fitness center, complimentary Wi-Fi, 300 square feet of meeting space, a 24-hour business center and a 24-hour market. MCR is the seventh largest hotel owner-operator in the country and has invested in and developed 102 hotel properties in 26 states spanning more than 12,000 rooms.
GREENVILLE, S.C. — Ziff Properties has acquired Garlington Park in Greenville for $5.2 million. The four-building business park comprises office, flex and warehouse space and totals 119,734 square feet. Land Development Inc. sold the property, and The Whitmire Co. and SVN BlackStream arranged the transaction. The buildings were constructed between 2001 and 2008. Garlington Park is home to tenants such as Grey Eagle Traders, Pompeii Motorsports and Fabrico Inc.
CLEVELAND — Cleveland-based KeyBank Real Estate Capital has arranged $118.7 million in financing for a 20-property medical office portfolio located across 12 states. The borrower, Healthcare Trust Inc., will use the loan to refinance existing debt, facilitate new acquisitions and for general corporate purposes. Charlie Shoop and Joe DeRoy of KeyBank arranged the 10-year loan, which features a fixed interest rate of 4.5 percent. Details of the lender and the properties were not disclosed.
NOBLESVILLE, IND. — Embassy Suites by Hilton has opened in Noblesville, just north of Indianapolis. Owned and managed by Sun Development and Management, the hotel features 198 suites and more than 29,000 square feet of meeting space. Each suite includes complimentary Wi-Fi, a large high-definition television, sofa bed, microwave, mini refrigerator, coffeemaker and workspace. The Local Kitchen and Tap is the property’s on-site restaurant. Additional amenities include a fitness center, 24-hour market, indoor pool, business center and hotel shuttle. Nearby attractions include Hamilton Town Center, Ruoff Home Mortgage Music Center, Edge Adventure Parks, the Conner Prairie Living History Museum, and the Palladium at the Center for the Performing Arts.
CHICAGO — Outlook Management Group LLC has begun managing Seven 10 West, a luxury apartment property in Chicago’s River West neighborhood. Developed this year by Outlook Development and Wicker Park Apartments, the 105-unit luxury apartment building is located at 710 W. Grand Ave. The property features 5,000 square feet of ground-floor retail space. Amenities include a fitness center, rooftop patio, kitchen space and bike storage.
SHEFFIELD AND STREATOR, ILL. — SVN | Chicago Commercial has brokered the sale of two properties occupied by Dollar General in Illinois for a combined $2.4 million. One property is located at 435 Railroad St. in Sheffield and the other is situated at 110 E. Livingston Road in Streator. Deena Zimmerman of SVN represented the buyer, who has now purchased six Dollar Stores within 16 months. The seller was not disclosed.