Property Type

CBRE Arranges $500M in Refinancing for Uber Headquarters in San Francisco

by Amy Works February 12, 2025

SAN FRANCISCO — CBRE has arranged $500 million for the refinancing of 1655 and 1725 Third Street in San Francisco’s Mission Bay area. Uber Technologies Inc. (NYSE: UBER) occupies the office property, which serves as the ridesharing company’s global headquarters. The asset comprises two 11-story, Class A office buildings totaling 586,208 square feet. The borrower is a joint venture between affiliates of Alexandria Real Estate Equities Inc., Uber and the Golden State Warriors, an NBA team that plays at the adjacent Chase Center. The joint venture refinanced the office development with a five-year, fixed-rate CMBS single-asset, single-borrower (SASB) loan. Brad Zampa and Mike Walker of CBRE secured the nonrecourse loan through Goldman Sachs and Barclays, both headquartered in New York. Both buildings are LEED Gold-certified and include a full-service, two-story café, barista-managed coffee bar, smoothie bar, event lounge and landscaped rooftop decks. Additionally, the properties are adjacent a to large fitness center, ground-floor restaurants and ample parking, and are part of Thrive City, a community gathering space. In the fourth quarter of 2024, the overall vacancy rate for San Francisco’s office market decreased by 40 basis points to 36.5 percent, according to CBRE. Net absorption turned positive for the first …

February 12, 2025

Affordable Housing Development Multifamily Texas

NRP Group Completes $81M Affordable Housing Project in San Antonio

by Taylor Williams February 11, 2025

SAN ANTONIO — The NRP Group, a Cleveland-based affordable housing developer, has completed Los Arcos at Vida, an $81 million project in San Antonio. The property is located within the 600-acre Vida master-planned development on the city’s south side and totals 324 units. Residences come in one-, two-, three- and four-bedroom floor plans and are reserved for households earning between 30 and 70 percent of the area median income. Amenities include a pool with a sundeck, barbecue grills and picnic areas, a conference center and cybercafé, activities room, community garden, playground and onsite laundry facilities. The project was financed in large part by $36 million in tax credits issued by the Texas Department of Housing & Community Affairs.

February 11, 2025

Development Multifamily North Carolina Southeast

Riverside, Woodfield Top Out 42-Story Apartment Tower in Charlotte

by John Nelson February 11, 2025

CHARLOTTE, N.C. — Riverside Investment & Development and Woodfield Development have topped out a 42-story apartment tower in Charlotte. Goettsch Partners served as the architect and Clark Construction Group served as the general contractor for the 409-unit property, which is the multifamily component of the Queensbridge Collective mixed-use development. The development also includes a 35-story office tower, nearly 30,000 square feet of retail space and more than 90,000 square feet of indoor/outdoor amenity space, including more than two acres of indoor and outdoor fitness, recreation and entertainment spaces. Charlotte-based Night Swim Coffee is scheduled to open later this year on the ground floor of the apartment tower, and Denver-based steakhouse Guard and Grace will debut its 10,224-square-foot venue on the 10th floor in mid-2026. Riverside and Woodfield broke ground on Queensbridge Collective in May 2023 and plan to fully deliver the project in 2027.

February 11, 2025

Affordable Housing Loans Multifamily Texas

Bolour Provides Acquisition Loan for Affordable Housing Property in Southwest Dallas

by Taylor Williams February 11, 2025

DALLAS — An affiliate of California-based investment, development and finance company Bolour Associates Inc. has provided an undisclosed amount of acquisition financing for a 112-unit affordable housing community located at 4753 Duncanville Road in southwest Dallas. The property was originally built in 1989 and features one-, two- and three-units that range in size from 663 to 1,059 square feet. Income restrictions for the community were not disclosed. John Choi of Concord Summit Capital arranged the financing on behalf of the unnamed borrower.

February 11, 2025

Development Georgia Mixed-Use Multifamily Southeast

High Street Residential Breaks Ground on 350-Unit Apartment Community in Brookhaven, Georgia

by John Nelson February 11, 2025

BROOKHAVEN, GA. — High Street Residential, a subsidiary of Trammell Crow Co., has broken ground on Residences at Perimeter Summit, a 350-unit apartment community located at 1251 Perimeter Summit Parkway in Brookhaven. Situated approximately nine miles from Midtown Atlanta, the seven-story apartment community will serve as a pillar of Perimeter Summit, a 1.7 million-square-foot mixed-use campus that also includes offices, shops, restaurants, a 182-room hotel and condominiums. Spear Street Capital is heading the office development at Perimeter Summit and recently partnered with STHRN Hospitality to add two new restaurants set to open this year: The Little Gem and Pizza Stop. Residences at Perimeter Summit will include a mix of studio, one-, two- and three-bedroom apartments with an average unit size of more than 900 square feet. Community amenities will include a resort-style pool, three courtyards, 1,200-square-foot speakeasy lounge, fitness center, clubroom, coworking center, private conference and study rooms, tasting room, pet spa, golf simulator, wellness sauna and access to walking trails and two MARTA stations. The design-build team includes architect Cooper Carry and general contractor New South Construction. The construction timeline was not disclosed.

February 11, 2025

Acquisitions Kentucky Loans Southeast Student Housing

Pearlmark Provides Mezzanine Loan for 534-Bed Student Housing Property Near Western Kentucky University

by John Nelson February 11, 2025

BOWLING GREEN, KY. — Pearlmark has provided a mezzanine loan for the acquisition of Midtown at WKU, a 534-bed student housing community located adjacent to Western Kentucky University in Bowling Green. Eagle Realty Group provided the senior loan on behalf of the borrower, ABCampus. Greg Young of Colliers Mortgage arranged the financing. Located on Center Street, Midtown at WKU features 189 units with bed-to-bath parity, as well as an amenity package that includes a fitness center, rooftop pool, study center, 24-hour maintenance staff, courtyard, clubhouse and private study rooms.

February 11, 2025

Acquisitions Georgia Restaurant Retail Southeast

Marcus & Millichap Brokers Sale of New Restaurant in Buford, Georgia Leased to Arby’s

by John Nelson February 11, 2025

BUFORD, GA. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a newly built restaurant located at 4996 Lanier Islands Parkway in Buford, a northeast suburb of Atlanta. Quick-service restaurant chain Arby’s has a 15-year ground lease at the restaurant, which was delivered last year at the entrance of a 1.1 million-square-foot Amazon fulfillment center. The Arby’s restaurant sits on 1.6 acres and totals 2,577 square feet in size. Don McMinn and Andrew Koriwchak of Taylor McMinn Retail Group represented the seller, a developer based in Florida, in the transaction. The buyer was a 1031 exchange investor based in California. The names of the buyer and seller were not released, along with the sales price. “This was part of a multi-parcel development we are marketing in Buford,” says McMinn. “We first sold a Whataburger and now the Arby’s, and in both cases we were able to leverage our national platform and local reach to generate strong interest and multiple cash offers.”

February 11, 2025

Leasing Activity Mixed-Use Office Southeast Virginia

Comstock Signs Insurance Firm to 32,000 SF Office Lease at Reston Station in Northern Virginia

by John Nelson February 11, 2025

RESTON, VA. — Comstock Holding Cos. Inc. has signed FM Global, an international commercial property insurance and loss prevention firm, to a 32,000-square-foot office lease in Northern Virginia. The tenant will occupy space at 1906 Reston Metro Plaza, an office building within the 90-acre Reston Station mixed-use development. FM Global is joining other Reston Station tenants including Google, ICF International and Spotify. Last month, Comstock signed CARFAX to lease 87,000 square feet at 1906 Reston Metro Plaza, which will serve as the automobile history reporting platform’s corporate headquarters.

February 11, 2025

Industrial Leasing Activity Office Texas

Fonroche Lighting Opens 20,088 SF Headquarters Facility in Fort Worth

by Taylor Williams February 11, 2025

FORT WORTH, TEXAS — Fonroche Lighting, a French provider of solar-powered streetlights, has opened a 20,088-square-foot headquarters facility in Fort Worth. Fort Worth-based Empire Holdings designed and built the facility, which is located within Campus Industrial Park on the city’s southeast side. The space features customized elements for engineering, sales and production departments, as well as floor-to-ceiling glass windows, exposed ceilings, private and communal office spaces, purpose-built cargo docks, oversized automatic overhead doors and storage and freight handling areas.

February 11, 2025

Leasing Activity Office Texas

Topaz Labs Signs 19,000 SF Office Lease Expansion in Richardson, Texas

by Taylor Williams February 11, 2025

RICHARDSON, TEXAS — Topaz Labs, a provider of AI-powered photo and video enhancement technology, has signed an approximately 19,000-square-foot office lease expansion in the northeastern Dallas suburb of Richardson. The deal effectively triples the company’s footprint at its headquarters facility, which is located at 5100 Belt Line Road, to about 28,000 square feet across the top two floors of the three-story building. Nick Lee and Walker Hume of NAI Robert Lynn represented Topaz Labs in the lease negotiations. Kristi Waddell, Addie Ludwig and Jeremy Duggins of Cawley Partners represented the landlord.

February 11, 2025

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