SANTA CLARA, CALIF. – A new affordable senior housing complex broke ground at 2525 El Camino Real in Santa Clara. The $15-million complex is being developed by EM Corporation,in conjunction with Pacific Housing and theCity of Santa Clara. The 48-unit complex, called 2525 El Camino Real Senior Apartments, is set to open in the summer of 2013. It is being designed by KTGY Group.
JACKSONVILLE, FLA. — Charles Perry Partners Inc. has completed the $3.36 million, 16,000-square-foot University of North Florida College of Education's Disability Resource Center (DRC). The two-story facility promotes and facilitates partnerships among UNF students with disabilities and the UNF community. The DRC also assists those with hearing, learning, medical, psychological, physical, speech and vision disabilities, as well as ADHD, ADD, traumatic head injury and other diagnosed disabilities.
RIVERVIEW, FLA. — TNP has acquired the 78,500-square-foot Bloomingdale Hills, a shopping center located at the intersection of West Bloomingdale Avenue and Providence Road in Riverview, a submarket of Tampa. Walmart Neighborhood Market anchors the center, which is fully leased. The property is the public non-traded REIT's 19th acquisition.
SOUTHPARK, N.C. — A 15,344-square-foot office building, located in Morrocroft Professional Center in Southpark, has sold for $2.06 million. Charles G. Monnett III & Associates will occupy the first floor and Dr. Samuel Randall and Dr. Eric VanHuss currently occupy the second floor. NAI Southern Real Estate represented Queens Barrister II, the buyer, in the transaction. Jonathan Nance of Grubb Properties represented the seller, Colony at Morrocroft LLC.
TAMPA, FLA. — Mumford Co. has negotiated the sale of the 127-room Masters Inn, located adjacent to Interstate 4 in Tampa. David Mumford of Mumford Co.'s Newport News, Va., office, along with Steve Kirby and Burton Brooks of the firm's Atlanta office, represented the Supertel Hospitality, the seller, in the transaction. The buyer was a local operator.
OMAHA — Developers have broken ground on the first Hyatt-branded hotel in Nebraska. An affiliate of the Hyatt Hotels Corp. purchased land in Omaha for the construction of the hotel in February, and the project is expected to total $27 million. Chicago-based DLR Group designed the 10-story Hyatt Place Omaha Downtown/Old Market, which will include 159 rooms. Woodbine Development is overseeing development of the project on behalf of Hyatt affiliates and Hawkins Construction is serving as general contractor. The hotel is slated to open in 2014.
TAYLOR, MICH. — Rouse Properties has secured a $78.8 million mortgage loan for Southland Center, a 900,000-square-foot enclosed mall in Taylor. Anchors at the mall on Eureka Road include Macy's and JC Penney. Recently, retailer Forever 21 signed a lease to take over a former 22,500-square-foot Borders space at the property. The 10-year, non-recourse loan bears interest at a fixed rate of 5.09 percent.
SPRINGFIELD, MO. — The University Plaza Hotel and Convention Center in Springfield plans to launch construction of the hotel's new, on-site day spa this July. The 1,100-square-foot facility will be located on the hotel's main floor and services will include massages, facials and manicures. The spa is scheduled to open this September. The University Plaza Hotel is owned by John Q. Hammonds Hotels & Resorts.
BOSTON — Hostelling International has opened the new $43 million Boston Hostel at 19 Stuart St. in Boston. Hostelling International is a network of 4,000 budget-oriented accommodations in 90 countries, favored by international and youth travelers. The 480-bed Boston hostel will replace the company's 208-bed hostel in the city's Fenway neighborhood. The property was built to LEED standards and is expected to be the first LEED-certified hostel in the nation. Prices start at $29 per night per guest and the hostel includes a cafe and community room.
NEW YORK CITY — Hudson Realty Capital has arranged a $6 million construction loan for a vacant industrial loft building in the North Williamsburg section of Brooklyn. The property owner plans to renovate the five-story building and reposition it as a residential condominium. Once complete, the building will feature a mix of studio, one-, two- and three-bedroom units, as well as loft apartments.