HOGANSVILLE, GA. — Atlanta-based Seefried Industrial Properties plans to develop a 1.6 million-square-foot “sortation” center in Hogansville, roughly 55 miles southwest of Atlanta in Troup County, for e-commerce giant Amazon. KBC Advisors represented Seefried in the land purchase. Set to open in 2027, the facility will serve as Amazon’s third sortation center in Georgia. The property will be located along Ga. Highway 54/East Main Street near Bass Cross Road and I-85. Amazon employees will sort orders by final destination and consolidate them onto trucks for delivery. Employees will also work alongside robotics and other innovative technology in the process. The design-build team includes general contractor The Conlan Co., architect AECOM and civil engineer Eberly & Associates.
FORT LAUDERDALE, FLA. — Housing Trust Group (HTG) and Mount Hermon African Methodist Episcopal (AME) Church have opened Mount Hermon Apartments, a new affordable seniors housing community in Fort Lauderdale. Development costs totaled $43.5 million. Monthly rental rates at the community, which features one- and two-bedroom apartments, range from $433 to $1,422 per month. Units are reserved for seniors earning at or below 25 and 60 percent of the area median income (AMI). According to Apartments.com, the average rental rate for a one-bedroom apartment in Fort Lauderdale is $2,222. Amenities at the property include a rooftop terrace, fitness center, clubroom and community gathering space. Services offered at the community include 24-hour assistance, adult literacy training and support with light housekeeping, grocery shopping and laundry. Financing for the development included $32.6 million in 9 percent low-income housing tax credit (LIHTC) equity syndicated through Raymond James; a $33 million construction loan from TD Bank; a $7.5 million permanent Freddie Mac loan provided and serviced by Berkadia; and a $640,000 loan from the City of Fort Lauderdale. HTG Gomez Construction served as the project’s general contractor. The project team also included architect REP-R-TWAR, civil engineer Thomas Engineering and interior design firm B. Pila …
LINCOLN PARK, N.J. — JLL has secured the refinancing of two industrial buildings totaling 143,265 square feet in the Northern New Jersey community of Lincoln Park. The buildings were both constructed in 1985, feature clear heights of 22 feet and were fully leased at the time of sale of a combined 10 tenants. Michael Klein, Ryan Carroll and Tyler Caricato of JLL arranged the 10-year, fixed-rate loan on behalf of the borrower, The Frassetto Cos. The loan amount and direct lender were not disclosed.
SCOTTSDALE, ARIZ. — Cushman & Wakefield has advised an Arizona-based commercial real estate investment company in securing $37.1 million of financing for the previously announced acquisition of Scottsdale Centre Medical, a 163,311-square-foot medical outpatient building in Scottsdale. Tyler Morss of Cushman & Wakefield arranged the financing for the buyer. The lender was Arizona-based Foothills Bank, a division of Glacier Bank, which is owned by Glacier Bancorp.
WEST LINN, ORE. — CBRE has arranged the sale of Summerlinn Apartments, a multifamily property in West Linn. A private buyer acquired the asset from Reliant Group for $33.6 million. Situated on 6 acres at 400 Springtree Lane, Summerlinn Apartments features 94 one-, two- and three-bedroom units. Community amenities include a gated entrance, landscaped grounds, a sports court, play area and a remodeled clubhouse with a pool, hot tub and an outdoor entertainment space. Josh McDonald, Joe Nydahl and Matt Dodd of CBRE represented the seller in the deal.
BOISE, IDAHO — Seven Hills Realty Trust (Nasdaq: SEVN) has provided an $18 million first mortgage floating-rate bridge loan to refinance Curtis Junction, a 112-unit apartment community in Boise. The loan has a three-year initial term with two one-year extension options. Berkadia arranged the loan through Tremont Realty Capital, SEVN’s manager, on behalf of the borrower, Newport, Calif.-based RanchHarbor.
FLEMINGTON, N.J. — Locally based developer Larken Associates has delivered Flemington Junction Business Center II, a 50,000-square-foot industrial flex project located about 60 miles southwest of Manhattan. The building features a clear height of 32 feet, and units can be subdivided to spaces as small as 3,125 square feet. Core Enterprises provided construction management services for the project, construction of which began last summer.
WEST HAVEN, UTAH — ACD, a Denver-based commercial real estate investment firm operating a portfolio of self-storage assets, has acquired a self-storage facility in West Haven from a local development company for an undisclosed price. ACD will assume management of the 46,700-square-foot property under its in-house brand, BriteLock Storage. The asset is currently managed by Extra Space. Built in 2020 on 2.6 acres, the property consists of nine single-story self-storage buildings with 250 drive-up units and 176 climate-controlled units. Amenities include a gated entry with digital keypad, a separate onsite management office in front of the entrance gate, 24/7 video surveillance, asphalt driveways and units with roll-up doors. Jordan Farrer and Adam Schlosser of the LeClaire-Schlosser Group of Marcus & Millichap represented the seller and procured the buyer in deal.
BURBANK, CALIF. — Creative Arsenal LLC has completed the sale of an office building, located at 400 S. Victory Blvd. In Burbank, to a private buyer for $5.8 million. The three-story property offers 20,347 square feet of creative office, production and post-production space and immediate access to I-5 and I-134. Gerard Poutier, Mark Shaffer, Anthony DeLorenzo and Dylan Rutigliano of CBRE represented the seller in the transaction.
CHICAGO — Chicago-based JLL Capital Markets has arranged $252.5 million in financing for the Lower Terra Industrial Portfolio, a collection of 21 light industrial properties totaling 3.6 million square feet across 17 markets in the U.S. Lucas Borges, Matthew Schoenfeldt and Tara Hagerty of JLL represented the borrowers, Brennan Investment Group and Farallon Capital, to secure the five-year, floating-rate loan through affiliates of Apollo. Located across 13 states in the East, West, Central and Southeast regions, the portfolio is 98 percent leased to 16 tenants. The average tenant tenure is more than 30 years.