CARROLLTON AND ADDISON, TEXAS — Metro Philadelphia-based CenterSquare Investment Management has acquired a two-property industrial service portfolio totaling 86,388 square feet in the northern Dallas metros of Carrollton and Addison. Known as Metropolitan Infill, the portfolio offers suites averaging approximately 5,400 square feet in size with 12- to 16-foot clear heights and a mix of dock-high and grade-level loading doors. The portfolio was fully leased at the time of sale.
JERSEY CITY, N.J. — JLL has arranged $384 million in financing for the land purchase and vertical construction of Harborside 8, a 678-unit multifamily project in Jersey City. The borrower is a partnership between Panepinto Properties and AJD Construction. The financing consists of a $306 million, floating-rate senior loan from Kennedy Wilson and a $78 million preferred equity investment from Affinius Capital. Harborside 8 will be a 65-story waterfront building with studio, one-, two- and three-bedroom apartments. Amenities will include a fitness center, indoor pool, golf simulator, rooftop terraces, coworking rooms and a wine bar. Thomas Didio, Thomas Didio Jr., Ryan Robertson, Gerard Quinn and John Cumming led the transaction for JLL. Construction is scheduled to begin early next year, with stabilization targeted for early 2030.
MAHWAH AND FAIRFIELD, N.J. — Cushman & Wakefield has brokered the sale of a portfolio of two industrial buildings totaling 123,821 square feet in Northern New Jersey. The first building is a 67,170-square-foot structure in Mahwah that was fully leased at the time of sale to Beacon Roofing Supply. The second building is a 56,651-square-foot facility in Fairfield that houses the headquarters of Precision Textiles. Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema of Cushman & Wakefield represented the seller, Alexander Properties Group, in the transaction. The buyer was Faropoint.
SARATOGA SPRINGS, N.Y. — Regional owner-operator Maine Course Hospitality Group has purchased the 113-room Homewood Suites Saratoga Springs hotel, located north of Albany. The extended-stay hotel was built in 2017 and offers amenities such as a fitness center, business center, indoor pool and a sport court. Denny Meikleham and John Kluh of Berkadia represented the seller, a joint venture between DelMonte Hotel Group and XSS Hotels, in the transaction.
NEW YORK CITY — Trust Co. of the West has renewed and expanded its office lease in Midtown Manhattan. The Los Angeles-based asset management firm now occupies 80,200 square feet across the 47th and 48th floors at 1251 Avenue of the Americas, a 54-story tower that recently underwent a repositioning. David Falk, Pete Shimkin, Eric Cagner and Claire Koeppel of Newmark represented the landlord, Mitsui Fudosan America Inc., in lease negotiations. CBRE represented the tenant.
NEW YORK CITY — BioLabs, a Boston-based biotechnology incubator and operator of shared lab facilities, has opened a 46,000-square-foot life sciences space in the Long Island City area of Queens. The leased space is located within Innolabs, a 267,000-square-foot facility anchored by NYU Langone Health, and the facility will be known as Biolabs@NYU Langone. A partnership between Boston-based King Street Properties and New York City-based GFP Real Estate owns Innolabs.
LAKELAND, FLA. — Parkway has broken ground on Phase II of Lakeland Central Park, a $750 million industrial park spanning 740 acres in Lakeland. The second phase will comprise LCP 300, a new 261,000-square-foot cross-dock industrial facility at 1735 Winston Park Blvd.; an extension of Winston Park Boulevard with a direction connection to a signalized intersection at Airport Road; and pad-ready sites that can accommodate facilities spanning 162,000 to 1.7 million square feet. Phase I of Lakeland Central Park included LCP 200, a 705,000-square-foot, Class A facility that recently sold to a global furniture manufacturer and retailer. Parkway expects to deliver LCP 300 by fourth-quarter 2026, with the infrastructure, extension of Winston Park Boulevard and pad site deliveries expected to be completed by second-quarter 2027. The project team for Lakeland Central Park includes capital partner Silverpeak, an unnamed institutional investor with $140 billion of real estate assets under management, Berkadia (financial intermediary), Pinnacle Financial Partners (lead debt lender), Jr. Davis Construction (general contractor for infrastructure), Marcobay Construction (general contractor for LCP 300) and Cushman & Wakefield (marketing and leasing).
NASHVILLE, TENN. — CBRE has arranged three loans totaling $181.5 million for the refinancing of The Finery, a mixed-use development in Nashville’s Wedgewood-Houston neighborhood that comprises The Residences at The Finery and the adjacent T3 Wedgewood Houston office building. Mike Ryan, Brian Linnihan, Richard Henry, Blake Cohen, J.P. Cordeiro and Taylor Crowder of CBRE arranged the loans on behalf of the borrowers, Hines and Peakline Partners. Oxford Properties Group provided an $118 million loan for The Residences at The Finery, and Tishman Speyer provided a $17.5 million mezzanine loan behind Blue Owl’s $46 million loan for the T3 office building.
ENGLEWOOD, COLO. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $31 million bridge loan to refinance Oxford Vista, a 142-unit multifamily development in Englewood. The sponsor, The Prime Co., used loan proceeds to repay existing debt, fund loan transaction costs and establish an interest reserve. David Scheer and Alex Izso of Dwight Capital originated the financing. Completed in 2023, Oxford Vista features two studios, 112 one-bedroom and 32 two-bedroom units. Apartments offer quartz countertops with waterfall edges, stainless steel appliances, high ceilings, blackout shades, rain shower heads and anti-fog bathroom mirrors. Each residence also features smart locks and thermostats, energy-efficient appliances and high-speed internet access. Select units offer private balconies or patios with mountain views. Community amenities include a pool and hot tub, outdoor fire pits and grilling stations, a modern fitness center with Echelon smart mirrors, as well as a yoga and fitness studio, clubhouse and lounge with a fully equipped kitchen and an espresso bar. Additional amenities include podcast studios, a workshop space, communal workspaces, bike storage, controlled building access and a pet-friendly environment with a dog wash and dog courtyard.
NORTH LAS VEGAS, NEV. — CapRock Partners has completed the sale of CapRock Point @ Cheyenne, a Class A industrial facility located at 3921 E. Cheyenne Ave. in North Las Vegas, to EastGroup Properties for an undisclosed price. Developed in 2022 by CapRock Partners, CapRock Point @ Cheyenne features 101,332 square feet of industrial warehouse space. The fully leased property features a clear height of 30 feet, 13 dock-high doors, two grade-level doors, 107 auto stalls, ESFR sprinklers, 2,000 amps of power, flexible configuration and 3,027 square feet of office space. Michael Kendall and Gian Bruno of Colliers led the transaction, with local support from Dan Doherty, Paul Sweetland and Jerry Doty of Colliers.