HUNTINGTON BEACH, CALIF. — Sampont Properties has received an $8.4-million acquisition loan for CVS Plaza, a 31,140-square-foot, multi-tenant retail center in Huntington Beach. The center is located on 2.54 acres at 18872-17922 Beach Blvd. It is fully leased to tenants including CVS/pharmacy, Starbucks, O’Reilly Auto Parts, Verizon Wireless and Bank of America.Sampont was represented by Jim Wellbaum of Triwell Properties. The seller, ValCenters, was represented by William B. Asher, Eric P. Wohl and Edward B. Hanley of Hanley Investment Real Estate Advisors. CVS Plaza was built in 2004 and remodeled in 2008. The total sales price for the property was $13.87 million. Financing was provided by Kenny Lim of Farmers & Merchants Bank.
SURPRISE, ARIZ. — Grand Village, a 25,653-square-foot retail center in Surprise, has received $2.15 million in financing. Bealls, the center’s major tenant, is expected to renew its lease shortly. Financing was arranged by Jim Cooper of NorthMarq Capital’s Phoenix regional office.
DECATUR, GA. — Atlanta-based Carter plans to develop 315 West Ponce, a $40 million mixed-use project in Decatur. The five-story property will include 223 apartment units and 10,000 square feet of street-level retail. The project will target young professionals with a mix of one-, two- and three-bedroom units. Amenities will include a pool, clubhouse, fitness center and two outdoor courtyards. The development will also include a structured parking deck to be shared between the new retail and residential buildings. The Decatur Downtown Development Authority has approved the site plan for the project. The Preston Partnership is the project architect and Brasfield & Gorrie is the contractor. Construction is slated to begin later this summer.
FAIRFAX, VA. — Crow Holdings Capital Partners LLC has secured an $86.8 million acquisition loan for Monument Park, a 460-unit Class A apartment community in Fairfax. The property is located at 4457 Oakdale Crescent Court and units average 1,014 square feet. Community amenities include a clubhouse, resort-style swimming pool, fitness center, pub room and jogging trails. Whitaker Johnson, Andy Scott and Cary Abod led the HFF team that arranged the 10-year, fixed-rate loan through TIAA-CREF.
JACKSONVILLE, FLA. — KeyBank Real Estate Capital has provided an $11.6 million loan to Legend Senior Living for the construction of a new assisted living and Alzheimer's residence in Jacksonville. The property, The Windsor at San Pablo, will consist of 94 units. This is the second senior living facility Grant Saunders, senior vice president of KeyBank's Senior Housing and Healthcare Group, has arranged for the borrower this year.
BALTIMORE — The Greens at Irvington Mews, a 100-unit residential community for seniors and adults with disabilities, has opened in the Irvington neighborhood of southwest Baltimore. Enterprise developed the four-story property, which includes 5,000 square feet of common area space, a fitness center, TV lounge, computer center and community room. The $16 million property is located across from Mount Saint Joseph High School. Hord Coplan Macht designed the development, which includes energy-efficient features, such as Energy Star appliances and water-conserving plumbing features. Harkins Buildings Inc. served as contractor. The project was financed largely through the federal Low-Income Housing Tax credit program.
ATLANTA — Briggs Equipment, a provider of materials handling equipment, has acquired a 122,800-square-foot warehouse at 4695 Aviation Parkway in Atlanta for $5.9 million. The property is located within the International Airport Park, a master-planned industrial campus totaling nine buildings. Briggs will fully occupy the facility once the build-out is complete. The property features 24-foot clear ceiling heights, 31 dock-high doors and 215 parking spaces. Julian Brown and Brent Datson of Transwestern represented the seller in the transaction. James Wiant of Wiant Commercial Real Estate represented the buyer.
CHICAGO — The Marquette Cos. has broken ground on Catalyst, a 22-story apartment building located at 630 W. Washington in Chicago’s West Loop. The development is a joint venture with El Paso, Texas-based Hunt Cos. and New York-based Kayne Anderson Real Estate Advisors. Designed by architect Brininstool + Lynch, Catalyst will include 223 apartment homes with studio, one-, two- and three-bedroom plans. The street level of Catalyst will include a 13,000-square-foot Walgreens. The property will also include approximately 175 parking spaces. Lend Lease is serving as general contractor. Leasing is expected to begin in early 2014 with units delivering in summer 2014.
EAU CLAIRE, WIS. — Marcus & Millichap Real Estate has arranged the sale of Southpoint Shopping Center, a 15,183-square-foot retail property located in Eau Claire, for $2.8 million. Jason Ladner and Jeff Rowlett of Marcus & Millichap’s Milwaukee office marketed the property on behalf of the seller, a private Milwaukee-based investor and secured the buyer, a private Idaho-based investor. Southpoint Shopping Center is located at 2901-2917 Mall Drive and is shadow-anchored by Festival Foods, which recently signed an 18-year lease. Other tenants include Famous Dave’s, Northwestern Bank, Little Caesar’s, Clearwater Chiropractic, Scottrade Inc. and Weight Watchers. Southpoint Shopping Center was fully occupied at the time of sale.
CLEVELAND, OHIO — KeyCorp has signed a 15-year lease extension for 487,000 square feet at Key Tower in Cleveland. The new lease begins July 1, 2015, and extends through June 2030. Columbia Property Trust has owned the 57-story Class-A office tower since December 2005. The 1.3 million-square-foot property has served as the headquarters of KeyCorp., the holding company for KeyBank, since the tower’s construction in 1991.