Property Type

JLL Brokers Sale of 280-Unit Eight Winds Multifamily Community in St. Augustine, Florida

by John Nelson March 28, 2025

ST. AUGUSTINE, FLA. — JLL Capital Markets has brokered the sale of Eight Winds, a 280-unit luxury multifamily community in St. Augustine, about 40 miles south of Jacksonville. The buyer was Debartolo Development LLC. Cliff Taylor and Joe Ayers of JLL represented the seller, Altis Cardinal, in the transaction. The sales price was not disclosed, but the Jacksonville Daily Record reported the property traded for $59 million. Located at 50 Wexford Way, the complex comprises 297,426 square feet of rentable space. Unit sizes range from 707 square feet to 1,248 square feet with one-, two- and three-bedroom floorplans, according to Apartments.com. Amenities at the property include a walk-in heated swimming pool, 24/7 fitness center, pickleball courts, multiple indoor and outdoor lounge areas, fire pit, pet washing station and electric vehicle charging stations.

March 28, 2025

Acquisitions Midwest Minnesota Single-Family Rental

Homes for the Future Invests in Preservation of 283 Single-Family Rental Homes in Metro Twin Cities

by Kristin Harlow March 28, 2025

MINNEAPOLIS AND ST. PAUL, MINN. — A portfolio of 283 single-family rental homes, dispersed across the Minneapolis-St. Paul region, is now under nonprofit control following a joint acquisition by Grounded Solutions Network’s Homes for the Future (HFTF) initiative and five other nonprofit organizations. HFTF invested $2 million in the $61 million purchase and leads the ownership group’s efforts to transition the homes and expand the number of community-controlled assets stewarded by nonprofit shared equity housing organizations. “By bringing this previously for-profit, private equity investor-owned portfolio under nonprofit control, we have an opportunity to transition current tenants into homeownership and to rehab and sell the vacant homes at an affordable price to future families,” says Devin Culbertson, vice president of innovative finance at Grounded Solutions Network. Properties in the portfolio are concentrated in historically low-income communities of color, many of which are the fastest-appreciating neighborhoods in the region. Homes in the portfolio may continue to be maintained as rentals or sold to the current tenants. When current tenants choose to move out, the homes will be sold, with priority given to nonprofit shared equity housing programs. The use of the shared equity housing model, such as a Community Land Trust, ensures …

March 28, 2025

Acquisitions Midwest Ohio Retail

Friedman Real Estate Arranges $4.8M Sale of Caliber Collision-Occupied Retail Property in Ohio

by Kristin Harlow March 28, 2025

NORTH CANTON, OHIO — Friedman Real Estate has arranged the $4.8 million sale of a 12,000-square-foot retail property occupied by Caliber Collision in North Canton, just south of Akron. The newly constructed asset is located at 1550 W. Maple Road. Marc Hildenbrand and Steven Silverman of Friedman represented the buyer in the transaction.

March 28, 2025

Illinois Leasing Activity Midwest Restaurant Retail

The White Sheep to Open 5,424 SF Restaurant in Naperville, Illinois

by Kristin Harlow March 28, 2025

NAPERVILLE, ILL. — The White Sheep, a breakfast and brunch restaurant, has signed a 5,424-square-foot lease to open a restaurant at 22 E. Chicago Ave. in Naperville. The space is located in the River District Shopping Center, adjacent to North Central College. The restaurant is slated to open in the second quarter. Rick Scardino of Lee & Associates represented the tenant. Brooke Spinell of Mid-America Real Estate Group and Tom Bernier of Bucksbaum Properties LLC represented the landlord, Bucksbaum Properties. The lease marks the second location for The White Sheep, which maintains a restaurant in Orland Park.

March 28, 2025

Florida Loans Multifamily Southeast

Walker & Dunlop Arranges $28.4M Refinancing for Apartment Complex in Grenelefe, Florida

by John Nelson March 28, 2025

GRENELEFE, FLA. — Walker & Dunlop has arranged a $28.4 million loan to refinance Grand at Grenelefe, a 417-unit fractured multifamily property located in Grenelefe, roughly 46 miles south of Orlando. Harvey Pava of Walker & Dunlop’s Florida Capital Markets team arranged the loan on behalf of the borrower, Alya Equities. The fixed-rate loan features a 5-year term with a 12-month interest-only payment, as well as a step-down prepayment structure. Situated at 3119 Camelot Drive, the complex sits on more than 160 acres with a mix of one-, two- and three-bedroom floorplan options ranging up to 1,275 square feet. Amenities at the property include an onsite property manager, walking and biking trails, storage space, laundry facilities and a lounge.

March 28, 2025

Acquisitions Illinois Industrial Midwest

NAI Hiffman Negotiates $1.5M Sale of Industrial Outdoor Storage Property in Joliet, Illinois

by Kristin Harlow March 28, 2025

JOLIET, ILL. — NAI Hiffman has negotiated the $1.5 million sale of an industrial outdoor storage (IOS) property in Joliet. The 7-acre fenced and secured site at 18424 NW Frontage Road features an 11,000-square-fot repair facility with four repair bays and approximately 100 trailer parking positions. It is situated 15 miles north of the CenterPoint Intermodal facility — Noth America’s largest inland port — and near I-55 and I-80. NAI Hiffman’s Disser Team, comprising Kelly Disser, Mike Freitag, Bill Byrne and TJ Feeney, represented the seller. Both the buyer and seller were privately owned trucking companies.

March 28, 2025

Florida Leasing Activity Retail Southeast

Bout Boxing Signs Retail Lease at Central Island Square Near Charleston

by John Nelson March 28, 2025

DANIEL ISLAND, S.C. — New York City-based Bout Boxing has signed a 2,047-square-foot retail lease at Central Island Square, a 4,000-acre master planned community in Daniel Island. Located roughly eight miles from Charleston International Airport, the new fitness studio is slated to open this spring at 50 Central Island St. Melissa Sweeney of Continental Realty Corp. and Lindsey Halter of Carolina Retail Experts represented the undisclosed landlord in the lease negotiations. Alex Kucich and Nell Kucich currently operate two Bout Boxing locations in New York City and are teaming up with Marc Nuccitelli for the Charleston expansion. Bout Boxing will join a mix of retail tenants at Central Island Square including Buck’s Deli, Par Paradise, Gloss, iCRYO, Tacos & Tequilas Mexican Grill, New York Butcher Shoppe and a pet boutique.

March 28, 2025

Development Loans Mixed-Use Multifamily Retail Top Stories

S3 Capital Provides $210M Construction Loan for Mixed-Use Development in Brooklyn

by Channing Hamilton March 28, 2025

NEW YORK CITY — S3 Capital has provided a $210 million construction loan for a 28-story mixed-use project located at 6208 Eighth Ave. in the Sunset Park neighborhood of Brooklyn. Chicago-based Watermark Capital is the project’s sponsor. The company obtained the financing alongside its joint venture partner, Rubin Equities. Once completed, the development will consist of 497 apartment units and 100,000 square feet of retail space. Residents will have access to shared amenities such as a fitness center, rooftop terrace, bike storage, a yoga room, sauna, screening room and coworking spaces. The project is situated directly above the Eighth Avenue subway station. Prestige Construction will serve as the general contractor. An estimated completion date for the development was not disclosed. “We are thrilled to collaborate with Watermark Capital on this exciting project,” said Robert Schwartz, co-founder and partner at S3 Capital. “The Sunset Park housing market is significantly under-supplied, and this development will bring a substantial amount of in-demand, transit-oriented housing units to the community.” Morris Betesh, Alex Bailkin, Matt O’Hanlon and Israel Mermelstein of Arrow Real Estate Advisors arranged the loan on behalf of Watermark Capital. S3 Capital is wholly owned by Spruce Capital Partners, a New York City-based developer, owner, lender and investor. Since …

March 28, 2025

Development Industrial Self-Storage Texas

SurePoint to Develop 687-Unit Self-Storage Facility in Humble, Texas

by Taylor Williams March 27, 2025

HUMBLE, TEXAS — SurePoint Development, a self-storage owner-operator based in San Antonio, will develop an 687-unit self-storage facility in Humble, a northeastern suburb of Houston. The site is located at the intersection of Sam Houston Tollway and Mesa Drive at the entrance to Johnson Development’s Fall Creek master-planned community. CubeSmart will operate the new facility, which will comprise 120,000 net rentable square feet of climate- and non-climate-controlled space. The facility will also feature boat/RV storage space and 10,000 square feet of mini-offices. Construction is set to begin before the end of the year. A tentative completion date was not announced. SurePoint is also planning a 761-unit facility in Missouri City.

March 27, 2025

Hospitality Loans Texas

Mag Mile Capital Arranges $13M CMBS Loan for Central Texas Hotel

by Taylor Williams March 27, 2025

HARKER HEIGHTS, TEXAS — Mag Mile Capital, a Chicago-based commercial mortgage banking firm, has arranged a $13 million CMBS loan for the 88-room Hampton Inn Harker Heights hotel in Central Texas. The select-service hotel opened in August 2023 and is located north of Austin and just outside the city of Killeen. The 10-year, nonrecourse loan carried a fixed interest rate of 7.5 percent, a 65 percent loan-to-value ratio and a 30-year amortization schedule. The name of the Austin-based borrower and direct lender were not disclosed.

March 27, 2025

Newer Posts

Older Posts