TAMARAC, FLA. AND BIRMINGHAM, ALA. — Greystone has provided a pair of Freddie Mac loans totaling $103.7 million for the refinancing of two multifamily communities in South Florida and Birmingham. The deals include a $37.3 million loan for Midora at Woodmont, a 199-unit community in Tamarac, and a $66.4 million loan for Avenues of Inverness, a 586-unit property in Birmingham. The agency loans for both properties carry seven-year terms, fixed interest rates, five years of interest-only payments and 35-year amortization schedules. The borrower for both loans is Monsey, N.Y.-based White Eagle Property Group.
CHARLESTON, S.C. – Capital Development Partners has delivered Shipyard Creek, a new 160,250-square-foot transload industrial facility that offers direct access to the Port of Charleston. Situated on a 42-acre site adjacent to the port’s new $1.3 billion Hugh K. Leatherman Terminal, the property was designed to handle container movement from users including retail importers. Shipyard Creek features 153 dock doors, 724 trailer parking spaces and onsite storage parking that can accommodate five stacked shipping containers. Capital Development Partners has tapped Lee Allen, Kevin Coats and Tyler Smith of JLL to handle the project’s leasing assignment. Shipyard Creek enjoys access to the port’s marine terminals, as well as interstates and the upcoming SC Ports Navy Base Intermodal Facility, which will be dual-served by Norfolk Southern and CSX.
TAMPA, FLA. — Funds managed by Cohen & Steers and the investment management business of Acadia Realty Trust have entered into a joint venture to purchase The Walk at Highwoods, an open-air shopping center in Tampa. The seller and sales price were not disclosed. The 141,000-square-foot property was fully leased at the time of sale to national and local tenants including HomeGoods, Michael’s, F45 Training, Dunkin’ and European Wax Center.
TOWSON, MD. — Marcus & Millichap has arranged the sale of a 14,175-square-foot retail strip center located at 1270 E. Joppa Road in Towson. An affiliate of Wilmington, Del.-based Buccini Pollin Group sold the property for an undisclosed price. Dean Zang and David Crotts of Marcus & Millichap’s Washington, D.C., office represented the seller and procured the buyer, an unnamed private investor. Built in 2018, the property’s tenant roster includes Aspen Dental, ATI Physical Therapy, Dogtopia and School of Rock. The center is situated on 1.9 acres as an outparcel to a Wawa gas station and 1271 at Towson, a luxury apartment community.
OMAHA, NEB. — Cavan Cos. has received two construction loans totaling $87.5 million for the development of The Bungalows on Honeysuckle and The Bungalows at Whitehawk Lake, two build-to-rent (BTR) projects in Omaha. ORIX Corp. USA’s Real Estate Capital Group provided the financing. Timelines for completion were not disclosed. Combined, the two projects will feature 466 single-story homes in one-, two- or three-bedroom layouts. Each residence will include open floor plans, 10-foot ceilings, laundry rooms, walk-in closets and fenced back yards with artificial turf. Select homes will also have garages. Both communities will offer amenities such as pools, fitness centers, community spaces, dog parks and other pet-friendly spaces. “The demand for rental homes continues to increase across the United States, particularly in markets like Omaha,” says Gary Burton, CEO of Cavan Cos. “Our BTR model aligns with shifting market preferences, as more residents are seeking lifestyle-driven housing options without the long-term commitment of traditional homeownership.” Cavan Cos. is a BTR development firm based in the Phoenix suburb of Scottsdale. The company’s portfolio consists of approximately 5,000 BTR units in Arizona. In addition to The Bungalows on Honeysuckle and The Bungalows at Whitehawk Lake, as well as multiple projects in Arizona, Cavan Cos. plans to develop …
MANOR, TEXAS — Dallas-based advisory firm The Retail Connection, through its affiliate Connected Development Services, has broken ground on a 150,000-square-foot shopping center in metro Austin. Manor Crossing will be located on the state capital’s eastern outskirts within a 63-acre site at the northwest corner of U.S. Highway 290 and FM 973 that will also be home to a 101,000-square-foot H-E-B grocery store. The center will comprise four buildings on 18 acres. Tenants that have already committed to Manor Crossing include T.J. Maxx, Burlington, Planet Fitness, Five Below, Rack Room Shoes, Jersey Mike’s, James Avery, McAlister’s, Mattress Firm, Tropical Smoothie Café and Tomlinson’s Feed. Cuaso Design Studio and ICON Architecture are leading design of the project, and Flynn Construction is serving as the general contractor. Completion is slated for 2026.
DALLAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Alto Highland Park, a 112-unit apartment complex in Dallas. Built in phases between 2001 and 2007, the property offers 57 brownstones with direct-access garages and 55 residences that connect to a subterranean garage. Units come in one-, two- and three-bedroom floor plans and have an average size of 1,888 square feet. Amenities include a pool, clubhouse and an outdoor lounge and grilling area. Taylor Hill, Michael Ware, Drew Kile, Joey Tumminello, and Cameron Purse of IPA represented the seller, Origin Investments, in the transaction. The team also procured the buyer, Silverado Interests.
GARLAND, TEXAS — Nashville-based brokerage firm Matthews Real Estate Investment Services has arranged the sale of a 7.5-acre industrial outdoor storage (IOS) site in Garland, a northeastern suburb of Dallas. The property at 2660 Market St. houses an 87,780-square-foot building that was originally constructed in 1991 and features eight dock-high doors and four grade-level doors. Alexander Harrold of Matthews represented the buyer, Alterra IOS, in the transaction. The name and representative of the seller, as well as the sales price, were not disclosed.
NEW BRAUNFELS, TEXAS — Topgolf will open a 35,000-square-foot venue in New Braunfels, a northeastern suburb of San Antonio. The two-story facility will be located within the 400-acre New Braunfels Town Center at Creekside master-planned development and will feature 62 climate-controlled hitting bays in addition to a full bar and restaurant. Construction is underway, and completion is scheduled for late 2025. The Dallas-based sports entertainment company, which currently operates more than 100 venues around the world, expects to hire about 200 people to staff the new facility.
LUBBOCK, TEXAS — An affiliate of Houston-based development and investment firm Vista Cos. has acquired The Plazas on Ninth Street, a 21,000-square-foot retail strip center located in the West Texas city of Lubbock. The center is located across from the Texas Tech University campus and was fully leased at the time of sale to tenants such as Torchy’s Tacos and Barefoot Athletics. Chris Gainey of Marcus & Millichap represented Vista Cos. in the transaction. JLL arranged an undisclosed amount of acquisition financing through StanCorp Financial Group for the deal. The seller was not disclosed.