DALY CITY, CALIF. — Kimco Realty and Bozzuto have broken ground on The Chester at Westlake, a mixed-use development in Daly City. Scheduled to open in winter 2027, The Chester will offer 214 one-, two- and three-bedroom apartments, more than 13,000 square feet of amenities and 9,854 square feet of leasable ground-floor retail space. The community will feature a two-story lobby and two courtyards connected by a clubroom. The west courtyard will serve as an active social hub with an outdoor kitchen and grilling stations, a water feature and ample lounge and dining areas. The east courtyard will feature a covered lounge, fireplace and lush landscaping. Additional amenities will include a 24-hour fitness center and yoga room, collaborative coworking spaces and personal focus areas, a communal bar area with lounge seating and a rooftop sky lounge and patio. Bozzuto Development Co. will serve as lead developer of The Chester, which is located at 99 Southgate Ave. and part of Kimco’s Westlake Shopping Center. The project team includes Bozzuto Management as property manager, BDE Architecture as architect, Kimley-Horn as civil engineer, Vida Design as interior designer, JETT Landscape Architecture & Design as landscape architect and Palisade Builders as general contractor.
SAN FRANCISCO — TMG Partners and Bridges Capital have purchased 149 New Montgomery Street, an office building in San Francisco’s South Financial District. The partnership acquired the mortgage loan from U.S. Bank as trustee in August and has now acquired the property through a deed in lieu of foreclosure. Originally built in 1907, the property offers 80,000 square feet of office and ground-floor retail space, including Café Madeleine. The new owners plan to renovate the building.
ALBUQUERQUE, N.M. — Hunter Hotel Advisors has arranged the sale of Hyatt Place Albuquerque/Uptown, located at 6901 Arvada Ave N.E. in Albuquerque. An institutional seller sold the asset to Sun Capital Hotels for an undisclosed price. The six-story hotel offers 126 guest rooms, 1,127 square feet of meeting space, a business center, 24-hour fitness center, an outdoor pool and dining options, including the Breakfast Bar and The Placery lobby bar. Brian Embree of Hunter Hotel facilitated the transaction.
AUSTIN, TEXAS — Pennsylvania-based private equity firm PPR Capital Management has completed The Residences at Rubi, a 101-unit mixed-income housing project in East Austin. The development is valued at $21.7 million. The unit mix will be split evenly between market-rate and affordable units, with the latter component carrying income restrictions between 30 to 70 percent of the area median income. IE2 Construction served as the general contractor for the project, and Avita Property Management is handling lease-up and property management duties.
HEWITT, TEXAS — Matthews Real Estate Investment Services has brokered the sale of Walker Place at Moonlight Park, a 98-unit single-family rental complex in Hewitt, located south of Waco. The property was completed in 2023, and homes feature three- and four-bedroom floor plans with an average size of 2,036 square feet, as well as attached two-car garages and private backyards. Richard Waterhouse and Andrew Kopenec of Matthews represented the seller, a Texas-based developer, in the transaction. The buyer was a Boston-based real estate private equity firm. Both parties requested anonymity.
OKLAHOMA CITY — Realterm, a Maryland-based investment manager focused on the transportation industry, has purchased a 94,089-square-foot warehouse that is adjacent to Will Rogers International Airport in Oklahoma City. Built on 9.3 acres in 2018 via a ground lease with the Oklahoma City Airport Trust and leased to a multinational logistics user, the warehouse features two dock-high doors, 14 drive-in doors, 25 truck parking spaces and 15 trailer parking spaces. The seller and sales price were not disclosed.
HOUSTON — Locally based brokerage firm Finial Group has arranged the sale of a 31,113-square-foot shopping center located at 10750 Barker Cypress Road in northwest Houston. Known as Lakes of Riata Retail Center, the property is home to tenants such as Domino’s Pizza, Shipley Donuts, Anytime Fitness and The Cupcake Cowgirls. The buyer and seller were not disclosed.
BOSTON — M&T Realty Capital Corp. has provided $44.8 million in financing for 247 Hancock, a 47-unit mixed-income housing project that will be located in the Dorchester area of Boston. The six-story building will offer studio, one-, two- and three-bedroom units. Amenities will include a fitness studio, tenant lounge and rooftop deck. The financing includes a $6.3 million Freddie Mac unfunded forward commitment under the 9 percent Low-Income Housing Tax Credit program, a $19.2 million construction loan and a $19.3 million tax credit equity investment, with the latter two components being executed by M&T Bank. Construction is slated for an early 2027 completion.
SECAUCUS, N.J. — Locally based financial intermediary G.S. Wilcox & Co. has arranged a $23 million permanent loan for an industrial property located in the Northern New Jersey community of Secaucus. The 200,000-square-foot facility, which was fully leased at the time of sale, includes 19 loading docks, one drive-in door and office space. Gretchen Wilcox and Al Raymond of G.S. Wilcox arranged the five-year, fixed-rate loan through an undisclosed life insurance company. The borrower was also not disclosed.
MOBILE, ALA. — Mobile-based Burton Property Group and Peaceable Street Capital have closed the $123 million recapitalization of a four-property shopping center portfolio in Alabama. The properties include Riviera Square and Foley Square in Foley, Jubilee Square in Daphne and Westwood Plaza in Mobile. The 785,000-square-foot portfolio was 98 percent leased at the time of the recapitalization, details of which were not disclosed. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL arranged the financing on behalf of Burton Property Group, which will use its newfound capital flexibility on its mixed-use projects including the 1,300-acre South Alabama Logistics Park and River Walk Plaza, both in Mobile.