BOSTON, CAMBRIDGE & BRIGHTON, MASS. — KeyBank Real Estate Capital has secured $38.7 million in Fannie Mae financing for a four-property multifamily portfolio located in Massachusetts. A $20.7 million first mortgage loan was secured by Boylston Apartments, a 129-unit property built in 1927 in Boston; a $10.1 million first mortgage loan was secured by Cambridge Apartments, a 56-unit property built in 1880 in Cambridge; and a $7.9 million first mortgage loan was secured by Commonwealth & Lothian Apartments, two properties totaling 61-units built between 1925 and 1928 in Brighton. Hayley Suminski of KeyBank’s commercial mortgage group arranged the financing with 10-year terms, five years of interest-only payments and 30-year amortization schedules. The non-recourse loans were used to refinance existing debt.
HOPKINTON, MASS. — SVN | Parsons Commercial Group | Boston, in partnership with AIS Development, has brokered two office leases totaling 70,000 square feet at 35 Parkwood Dr. in Hopkinton. After acquiring the unoccupied 160,000-square-foot research and development property in November 2016, the partnership has begun a renovation and marketing plan. The building, which formerly served as EMC’s headquarters, has been vacant for more than 10 years. Located in the Elmwood Business Park, the property now boasts two tenants: Illinois Tool Works and PrismHR. Victor Galvani of SVN | Parsons Commercial Group | Boston is handling the leasing at the building.
FAIRFIELD, CONN. — Jon Angel of Angel Commercial has arranged the $1 million acquisition of 107 Ardmore St. in Fairfield. The property consists of an 8,196-square-foot industrial building on .63 acres. Angel represented the buyer, Ardmore LLC, which acquired the property as an investment.
HENDERSONVILLE, TENN. — Ryan Cos. US Inc. has acquired an 11-acre land parcel in the Nashville suburb of Hendersonville. The buyer will use the property to build Clarendale at Indian Lake, a $48.5 million, 189-unit independent living, assisted living and memory care community. Project partners include LCS and Harrison Street Real Estate Capital. It will be the fourth Clarendale-branded community. The developers plan to start construction this spring for completion in fall 2018. Life Care Services, an affiliate of LCS, will operate the community once construction is completed. HFR Design, a Nashville-based architecture and engineering firm, designed the property. Bone McAllester Norton provided legal services. Terry Smith and Henry Trost of Avison Young represented Ryan Cos. in the land acquisition. The price was not disclosed.
NASHVILLE, TENN. — GBT Realty Corp. has begun construction on Belcourt Park, a $20 million multifamily community situated on 0.7 acres in Nashville’s Hillsboro Village. Belcourt Park will include 76 units and an onsite leasing and management office. Community amenities include a Wi-Fi workspace, an espresso bar, fitness facility, patio with cabanas and fire pits and a concealed parking structure that can hold up to 84 cars. Pre-leasing is expected to start this winter with the first residents moving in no later than next spring. GBT Realty financed the development with an $11.4 million construction loan from Trustmark Corp. Belcourt Park brings GBT’s total current investment in Hillsboro Village to $65 million, including Village 21 at Regions Park.
CLEMSON, S.C. — Stonemont Financial Group has begun construction on Plaza One89, a 45-bed student housing community located near Clemson University in South Carolina. The four-story property, which is also home to 6,000 square feet of retail space leased to Amici Italian Café, will offer two- and four-bedroom, fully furnished units with balconies. Community amenities will include a rooftop patio, on-site parking and controlled access. The project is set to open this August.
TAMPA, FLA. — Federal Capital Partners has purchased two apartment communities in Tampa totaling 293 units for a combined $21 million. The properties include Poplar Park Terrace, a 165-unit community at 4111 N. Poplar Ave. that will soon be rebranded as The Flats at Seminole Heights, and Fernwood Grove, a 128-unit property located at 4900 N. MacDill Ave. Jason Stanton of Berkadia’s Tampa office represented the undisclosed seller in the transaction.
MIAMI BEACH, FLA. — Brodson Construction has wrapped up construction on the expansion of Shake Shack on Lincoln Road in Miami Beach. Brodson expanded the restaurant by 586 square feet, bringing the eatery’s interior square footage to 2,231 square feet. Brodson has completed five Shake Shack locations in the Southeast and is currently building another in Orlando.
HOUSTON — Colliers International Inc. has arranged the sale of a retail center located at 9335 Gulf Freeway in south Houston. Built in 2004, the strip center features 7,500 square feet of gross leasable space. Jason Tangen of Colliers represented the seller, a Hawaii-based private investor, in the transaction. At the time of sale, the property was 85 percent leased with a T-Mobile location on the end-cap.
SAN ANTONIO — California-based video subscription company Hulu will open a viewer experience operations center in San Antonio. The center, which will measure 45,000 square feet, according to the San Antonio Express-News, will serve as a customer service center to aid the rollout of the company’s new live television service and redesigned interface. The opening of the center in 2017 is expected to create at least 500 new jobs by 2018.