Property Type

Walker & Dunlop Arranges $87.3M Refinancing for 2000 Biscayne Apartment Tower in Miami

by John Nelson June 26, 2025

MIAMI — Walker & Dunlop has arranged an $87.3 million loan for the refinancing of 2000 Biscayne, a new 36-story apartment tower in Miami. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Stepniewski, Dustin Stolly, Jordan Casella, Christopher de Raet and Stanley Cayre of Walker & Dunlop’s New York City capital markets team arranged the financing on behalf of the borrower, a joint venture that includes Kushner Cos. and PTM Partners. Corebridge Financial provided the loan. The 420-unit property comprises 75 studios, 204 one-bedroom, 129 two-bedroom and 12 three-bedroom apartments. Amenities include coworking spaces, community dining areas, a fitness center with locker rooms, spa, game room, children’s play area, pet spa and a dog park. 2000 Biscayne was 75 percent leased at the time of financing, a little more than a year after Kushner and PTM Partners began preleasing.

June 26, 2025

Leasing Activity New York Northeast Office

Newmark Arranges 30,000 SF Office Lease in Midtown Manhattan

by Taylor Williams June 26, 2025

NEW YORK CITY — Newmark has arranged a 30,000-square-foot office lease at 1185 Avenue of the Americas in Midtown Manhattan. The tenant, SURMOUNT, a commercial real estate services company focused on net-leased assets, will relocate from 275 Madison Avenue to the entire 30th floor of the building. David Falk, Jason Greenstein and Justin Pollner of Newmark represented the tenant in the lease negotiations. Newmark’s Brian Waterman, Scott Klau, Brent Ozarowski, Kevin Sullivan and David Waterman, alongside internal agents Howard Tenenbaum and Gary Rosen, represented the landlord, SL Green.

June 26, 2025

Loans Multifamily North Carolina Southeast

Nuveen Green Capital Closes First C-PACE Loan Ever in North Carolina for Trenton Mill Lofts in Gastonia

by John Nelson June 26, 2025

GASTONIA, N.C. — Nuveen Green Capital has closed a $6.5 million C-PACE loan for Trenton Mill Lofts, a new multifamily development in downtown Gastonia, a suburb 20 miles west of Charlotte. The closing marks the first-ever C-PACE financed transaction in the state of North Carolina. Originally built in 1897, the property formerly operated as the Trenton Cotton Mill before being acquired by the borrower, Lansing Melbourne Group, in 2020. The developer renovated the historic mill in 2022 into an 85-unit loft apartment community with a fitness center, lounge, hammock park and a firepit area. Lansing Melbourne used the C-PACE loan to partially pay down its original construction loan and support the stabilization of the property. Hal Kempson of Avison Young arranged the financing. C-PACE, which stands for “Commercial Property Assessed Capital Expenditure,” is now available in 40 states and Washington, D.C.

June 26, 2025

Acquisitions Mississippi North Carolina Retail Southeast

Marcus & Millichap Brokers $6.8M Sale of Two-Property Retail Center Portfolio in North Carolina, Mississippi

by John Nelson June 26, 2025

SPRING LAKE, N.C. AND JACKSON, MISS. — Marcus & Millichap has arranged the $6.8 million portfolio sale of two retail properties totaling 53,000 square feet in Spring Lake and Jackson. Walmart shadow-anchors both centers. Built in 2004, Spring Lake Town Center totals 29,841 square feet and was 85 percent leased at the time of sale to tenants including Dollar Tree, AT&T, GameStop, Cricket Wireless, Cato, Papa Murphy’s and OneMain Financial. The second property is a 24,069-square-foot retail center located at 4882-4898 Highway 18 W in Jackson. Tenants include Humana, It’s Fashion and Shoe Show. Zach Taylor and Eric Abbott of Marcus & Millichap represented the seller, a private real estate company, and procured the buyer, a private 1031 exchange investor, in the transaction. Both parties requested anonymity. Donald Gilchrist served as Marcus & Millichap’s broker of record in North Carolina, while Mickey Davis was the firm’s broker of record in Mississippi.

June 26, 2025

Arizona Development Multifamily Student Housing Western

Trinitas, Mitsui Fudosan to Break Ground on 27-Story Student Housing Tower Near Arizona State University

by Amy Works June 26, 2025

TEMPE, ARIZ. — A partnership between Trinitas Ventures and Mitsui Fudosan America is set to break ground on Astria Tempe, a 27-story student housing tower located steps away from the Arizona State University campus in Tempe. The development will offer units in studio, one-, two- and three-bedroom configurations. Shared amenities will include a pool, spa, fitness center, coworking space, social lounges, dog-friendly areas and ground-floor retail space. The community is scheduled for completion in summer 2027. TSB Capital Advisors arranged equity for the project, and BMO Bank provided financing. The development team includes Layton Construction Co. and Niles Bolton Associates.

June 26, 2025

California Development Multifamily Student Housing Western

GMH, Wexford Complete 252-Bed Student Housing Project Near UC Davis, Sacramento Campus

by Amy Works June 26, 2025

SACRAMENTO, CALIF. — A joint venture between GMH Communities and Wexford Science & Technology has completed ANOVA Aggie Square, a 252-bed development located on Stockton Boulevard near the University of California, Davis (UC Davis) campus in Sacramento. The community offers 190 units in a mix of studio, one-, two- and four-bedroom configurations. Shared amenities include a 2,500-square-foot fitness center with yoga and spin studios; soundproof office pods and private conference rooms; a coffee bar; wellness lounge with a sauna and massage chairs; 24-hour package system; game room with billiards; and an amenity patio with grilling stations. UC Davis Student Housing and Dining Services master leases 49 of the units and leases them at below-market rates. Priority for occupancy of these units is given to first-year medical, nursing and graduate students studying on the Sacramento campus. The remaining units are available for lease via GMH Communities, which operates the property, with priority given to university students, faculty and staff. The community was constructed during Phase I of Aggie Square, a larger mixed-use project that is set to include state-of-the-art research facilities and office space.

June 26, 2025

Acquisitions Arizona Multifamily Western

Marcus & Millichap Arranges Sale of 84-Unit Westside Commons Apartment Complex in Tucson

by Amy Works June 26, 2025

TUCSON, ARIZ. — Marcus & Millichap has brokered the sale of Westside Commons, a multifamily property in Tucson. A limited liability company acquired the asset from a limited liability company for $10.7 million. Located at 1335 West St. Mary’s Road, Westside Commons offers 84 apartments. Hamid Panahi and Clint Wadlund of Marcus & Millichap represented the seller and procured the buyer in the deal.

June 26, 2025

Acquisitions California Industrial Mixed-Use Office Western

Juniper Ridge Partners Buys Five-Building Flex Property in San Diego for $10.4M

by Amy Works June 26, 2025

SAN DIEGO — Juniper Ridge Partners has acquired Bay Bridge Center in San Diego from Jon and Donna Stockholm Trust for $10.4 million. Located at 1943-1995 Main St., Bay Bridge Center offers 38,300 square feet of mixed-use flex space. The five-building, multi-tenant asset is situated on 2.1 acres in San Diego’s Harbor/Downtown submarket. At the time of sale, Bay Bridge Center was fully leased to six tenants, including San Diego County Schools and Wrensilva, a high-end audio manufacturer. The property features 400 feet of frontage on Main Street and Harbor Drive, secure yard areas and proximity to a San Diego Trolley stop with immediate access to Interstate 5. Chris Holder, Mark Lewkowitz and Will Holder of Colliers represented the buyer and seller in the deal.

June 26, 2025

Acquisitions Colorado Hospitality Western

Matthews Brokers $7.2M Sale of Best Western Hotel in Lakewood, Colorado

by Amy Works June 26, 2025

LAKEWOOD, COLO. — Matthews Real Estate Investment Services has arranged the sale of a Best Western hotel located at 3440 S. Vance St. in Lakewood. The asset traded for $7.2 million. The names of the seller and buyer were not released. Simon Assaf and Hunter Davis of Matthews handled the transaction. Constructed in 1995, the 144,619-square-foot hotel features 112 guest rooms.

June 26, 2025

Development Hospitality Midwest Ohio

Nationwide Realty Investors Nears Completion of Renovations at Hotel, Conference Center in Metro Columbus

by Kristin Harlow June 26, 2025

LEWIS CENTER, OHIO — Nationwide Realty Investors is nearing completion of renovations at Nationwide Hotel and Conference Center, a 20-acre hotel and event complex in Lewis Center, a northern suburb of Columbus. In conjunction with the renovations, the property will be rebranded as The Ohioan Hotel & Event Center later this summer. The newly completed event center renovations include renovated and modernized ballrooms, expanded pre-function and post-function spaces and a new private outdoor courtyard with multiple fireplaces. Additional renovations underway include updates to the 193 guestrooms and suites. The hotel will remain open throughout the phased renovations. The 2,000-square-foot pub will also be given a refresh later this fall. Nationwide also commissioned three Ohio-based artists to create original artworks for display throughout the event center. What began as a radio station in the 1940s evolved into Green Meadows Inn during the 1960s. The property then became a training center for Nationwide Insurance in the 1970s and ultimately expanded into a full-scale conference and hotel destination by the early 2000s.

June 26, 2025

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