CHICAGO — Stantonic, a Chicago-based interior design and procurement firm, has announced that it is officially dropping the company name, “STANTON Interior Concepts” from the brand, effective immediately. The company says the rebranding enables the organization to further diversify its portfolio without the constraints of a strong name association, while also enhancing brand clarity and consistency directed toward the hospitality sector. Stantonic was founded in 2001.
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Franklin BSP Realty Trust Agrees to Acquire Multifamily Mortgage Originator NewPoint Holdings
NEW YORK CITY AND PLANO, TEXAS — Franklin BSP Realty Trust Inc. (NYSE: FBRT), a REIT based in New York City, has entered into a definitive agreement to acquire NewPoint Holdings JV LLC, a multifamily loan originator headquartered in Plano. The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions, including regulatory approvals. Terms of the transaction were not released. Launched in 2021, NewPoint has an existing servicing portfolio of $54.7 billion, including mortgages for market-rate multifamily, affordable housing, seniors housing, healthcare and manufactured housing properties nationwide. The company operates as both a direct lender and third-party placement provider. NewPoint, through its wholly owned subsidiary NewPoint Real Estate Capital LLC, is one of 19 multifamily originators and servicers approved to make loans on behalf of Fannie Mae, Freddie Mac and the U.S. Department of Housing and Urban Development (HUD). The acquisition will now allow Franklin BSP Realty Trust to originate agency mortgage loans. “For years we have been looking to add agency capabilities to the platform,” says Michael Comparato, president of Franklin BSP Realty Trust. “We believe this transaction is the final piece to complete our ‘one stop shop’ puzzle.” The acquisition will …
— By Nick Krakower and James deRegt of SRS Real Estate Partners — The fourth quarter of 2024 revealed significant trends across key indicators in Orange County’s industrial market. For starters, the county’s industrial market vacancy rate was 3.9 percent at that time. This figure represents a continued trend of gradually increasing vacancies, which has consistently occurred over the past eight quarters. The uptick in vacancies can be attributed to increased availability in larger distribution centers and evolving tenant requirements. North County had the largest increase at 4.5 percent. While a 3.9 percent vacancy shows OC’s industrial market remains relatively tight, there is a countywide availability of more than 16 million square feet. Net absorption for the quarter came in at -900,000 square feet. Sectors that rely heavily on logistics and distribution were most impacted, as the move to less expensive space in the Inland Empire continues. Despite the negative figure, leasing activity remains high with quarterly averages of more than 2 million square feet. Net absorption is expected to stabilize with the development pipeline slowing down. Development activity remained strong with 2 million square feet of new industrial space in the pipeline. This new inventory focuses on state-of-the-art facilities designed to …
— Phillip Hernandez, Research Director, Colliers — The Phoenix industrial market showed resilience throughout 2024. Arizona ranked fifth in net migration as of October, with 62,533 new residents — 52.8 percent of whom relocated from California. This influx of residents has positively impacted the labor market, growing Phoenix’s workforce by 42,900 employees by November, a 1.7 percent increase from the previous year. Investor interest in Phoenix’s industrial sector also remains strong. Fourth-quarter sales volume reached $1.9 billion, a 74 percent increase compared to the previous quarter and a 91.8 percent year-over-year increase. This brought last year’s total sales volume to $4.3 billion, with average prices per square foot rising by 2 percent (to $204.20) compared to fourth-quarter 2023. Vacancy Trends and Absorption Despite strong investor activity, the Phoenix market is experiencing rising vacancy rates. New deliveries in the fourth quarter added 7.8 million square feet to the market, bringing total deliveries for 2024 to 34.8 million square feet. However, the vacancy rate increased to 10.6 percent, marking a year-over-year 390 basis points rise. This increase is largely attributed to the completion of vacant product. Net absorption reached 3.8 million square feet in the fourth quarter, contributing to a year-to-date total of …
BURTONSVILLE, MD. — Cushman & Wakefield and Greystone have secured the sale of Country Place Apartments, a 312-unit multifamily development located in the Washington, D.C., suburb of Burtonsville. The property offers one-, two- and three-bedroom floorplans ranging in size from 978 square feet to 1,196 square feet, according to Apartments.com. Featured amenities at the development include a swimming pool, sundeck and a fitness center. Anthony Liberto and Jorge Rosa of Cushman & Wakefield represented the undisclosed seller in the transaction. Alex Basile of Greystone, along with Cushman & Wakefield, originated a seven-year, $41 million Freddie Mac loan for the acquisition.
IRMO, S.C. — The Palomar Group has negotiated the sale of Irmo Station, a 99,384-square-foot shopping center in the Columbia suburb of Irmo. Located at 7467 St. Andrews Road, the center is situated on 13.8 acres. Kroger anchors the center. Additional tenants at the property include Orangetheory Fitness, Pizza Hut, Pet Supplies Plus and Palm Beach Tan. A publicly traded REIT acquired the property for an undisclosed price. The seller was also not disclosed.
MONTGOMERY, ALA. — Berkadia has arranged a $35 million construction loan for The ONE at Montgomery, a new 264-unit multifamily development in Montgomery. Brad Williamson, Patrick Johnson, Mitch Sinberg, Scott Wadler and Matt Robbins of Berkadia’s Miami office arranged the financing on behalf of the Miami-based borrower, One Real Estate Investment (OREI). Synovus Bank provided the floating-rate loan at an approximately 65 percent loan-to-cost ratio. Located at 10510 Chantilly Parkway, the garden-style development will offer a mix of 96 one-bedroom units, 132 two-bedroom units and 36 three-bedroom units. Units will range in size from 827 square feet to 1,254 square feet. Amenities at the property will include a swimming pool with a cabana and sauna, fitness and yoga studio, multiple dog parks and a golf simulator. Construction on The ONE at Montgomery is currently underway and is slated to complete in mid-2026.
DAVIE, FLA. — SRS Real Estate Partners has brokered the $4.9 million ground lease (land ownership) sale of a gas station and convenience store located at 2500 Davie Road in Davie. Pennsylvania-based chain Wawa fully occupies the 5,636-square-foot property on a corporate-guaranteed lease. The property was built in 2019 and is situated on 1.4 acres nearly 28 miles north of Miami. A South Florida-based development and investment firm sold the asset to a private investor, also from South Florida, in a 1031 exchange. Patrick Nutt and William Wamble of SRS Capital Markets represented the seller in the transaction.
GOLDEN, COLO. — Confluence Cos. has purchased West 8th, a multifamily property in Golden, from MIG Real Estate for $47.5 million. Located at 1410 8th St., West 8th offers 99 apartments. David Potarf, Dan Woodward, Matt Barnett and Jake Young of Walker & Dunlop Denver Investment Sales handled the transaction for the seller and buyer.
PETALUMA, CALIF. — Graham Street Realty (GSR), an affiliate of Hamilton Zanze, has completed the disposition of The Redwoods, a flex industrial asset in Petaluma. Terms of the transaction were not released. Built in 1988, The Redwoods features nine units totaling 57,174 square feet. At the time of sale, the property was 94 percent occupied. Surrounded by mature Redwood trees, the asset features 204 parking spaces, five grade-level roll-up doors and clear heights ranging from 17.5 feet to 25 feet. Paramount Property Co., an Oakland, Calif.-based GSR affiliate, managed The Redwoods during GSR’s ownership.