SAN ANTONIO — Marcus & Millichap has brokered the sale of a 13,560-square-foot retail building in San Antonio. The building at 11814 Perrin Beitel Road on the city’s north side was originally constructed in 1983 and is net leased to Crash Champions. Scott Skuteris, Dominic Sulo and Andrew Antoniou of Marcus & Millichap represented the Nevada-based seller in the transaction. The buyer and sales price were not disclosed.
WASHINGTON, D.C. — Pearlmark has provided a $58 million mezzanine loan for the development of Portals IV, a 356-unit multifamily project underway in the Southwest Waterfront neighborhood of Washington, D.C. Pearlmark originated the loan via its investment fund, Pearlmark Mezzanine Realty Partners VI LP. David Webb and John Rehberger of CBRE arranged financing for the development, along with Mark Witt of Pearlmark. Kennedy Wilson provided the senior loan. The borrower and developer is Republic Properties, a subsidiary of the Republic Family of Cos. Portals IV is situated within walking distance of two Metro stations and will be the final addition to the Portals complex, a 3 million-square-foot mixed-use development that comprises three office buildings, one luxury apartment building and a hotel. Amenities at Portals IV will include a rooftop swimming pool and walkway, resident package locker room with dry cleaning pickup, fireplace lounge, fitness center and spin room, library, golf simulator, game room, coworking spaces, concierge services and a rooftop amenity lounge on the 13th floor. Outdoor grilling stations, private dining rooms, commercial laundry facilities and a coffee bar will also be available for resident use.
MIAMI — JLL Capital Markets has arranged the sale of Airport Trade Center, a 371,976-square-foot light-industrial portfolio in Miami. Situated adjacent to the Miami International Airport, the site features three cross-dock buildings that sit on 13.8 acres. Luis Castillo, Cody Brais and Taylor Osborne of JLL’s Investment Sales and Advisory team represented the undisclosed seller in the transaction. Melissa Rose and Jovi Rodriguez of the firm’s Debt Advisory team secured acquisition financing on behalf of the buyer, East Capital Partners.
CHICAGO — Related Midwest has opened three new residential buildings in Phase 3B of Roosevelt Square, the developer’s 67-acre multi-phase redevelopment project on Chicago’s Near West Side. Developed in partnership with the Chicago Department of Housing and Chicago Housing Authority (CHA), the latest phase adds 207 mixed-income apartment units — including 75 public housing, 40 affordable and 92 market-rate units — and 10,000 square feet of retail space to the former ABLA Homes site. The new buildings, located at 1002 S. Racine Ave., 1257 W. Roosevelt Road and 1357 W. Roosevelt Road, offer a mix of studio, one-, two- and three-bedroom units. The additions build on earlier phases, with nearly 900 mixed-income units completed since 2006. The Chicago Department of Housing invested $17 million in tax-increment financing and $2.5 million in donation tax credits. The City of Chicago issued $76.3 million in tax-exempt bonds, which generated $5.3 million in 4 percent low-income housing tax credits. In total, the redevelopment received approximately $101 million in public investment and financial support. Designed by Chicago-based DesignBridge, the six-story twin buildings at 1257 and 1357 W. Roosevelt each offer 70 units ranging from 556 to 1,191 square feet. Market-rate rents start at $1,650. Amenities …
TOPEKA, KAN. — The Annex Group has broken ground on Union at Tower District, a roughly $60 million affordable housing community in Topeka. The 4-acre project will offer 250 one-, two- and three-bedroom units for households earning 30 to 60 percent of the area median income. There will be two four-story buildings and one three-story building. Amenities will include a courtyard, dog park, playground, community center and fitness center. Project partners include BVH Architecture, REGA Engineering, SBB Engineering, the City of Topeka and Impact Housing Indiana Corp. Citi Community Capital served as both the construction lender and permanent lender. Stifel Public Finance underwrote $35 million in bonds issued by Shawnee County. The Kansas Housing Resources Corp. allocated 4 percent tax credits and tax-exempt bonds. Additional financial support came from WNC, the federal credit investor, and Advantage Capital, the state credit investor. The city provided RHID funding. The project marks Annex Group’s first community in Topeka and its third in Kansas. Completion is slated for January 2027.
CLEVELAND — Reynolds Asset Management has acquired Park Lamont and The Lumos in the heart of Cleveland’s University Circle for $30.6 million. The acquisition adds 119 newly constructed units to Reynolds’ portfolio. Reynolds completed the transaction in partnership with The Slabotsky Family Office, marking its third joint venture. Rob Starrett and Steve Jones of Berkadia brokered the sale, while Suzanne Hamilton of ERIEBANK originated financing. Park Lamont and The Lumos were built in 2024 and feature fitness centers and multiple clubrooms. The buildings offer a mix of studio, one- and two-bedroom units as well as three-story townhomes with private rooftop decks and attached garages.
HUNTLEY, ILL. — Venture One Real Estate has begun development of a new 130,000-square-foot production facility for Silesia Group in the Chicago suburb of Huntley. The project is located off Route 47 near the I-90 interchange at the Huntley Industrial Park and will more than triple Silesia’s footprint in the U.S. Integrating research, manufacturing and warehousing operations, the new facility will serve Silesia’s customers throughout the Americas. Meridian Design Build will oversee construction, and Ware Malcomb is the project architect. Brian Kling of Colliers represented Silesia throughout the site selection and development process.
COLUMBUS, OHIO — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $29.5 million bridge loan for the acquisition and substantial rehabilitation of Colonial Village, a 508-unit multifamily property in Columbus. Situated on a 25-acre site, Colonial Village consists of 92 one- and two-story buildings with 204 one-bedroom units, 24 two-bedroom units and 280 two-bedroom townhomes. Amenities include a clubhouse, picnic area, dog park and onsite management. The planned interior renovations include updated kitchen appliances and cabinets, in-unit washers/dryers, quartz countertops, updated bathroom vanities, vinyl plank flooring and new hardware. Exterior improvements will include brick restoration and painting, roof repairs, renovation of the clubhouse and leasing office, installation of a central HVAC system, parking lot repairs and enhanced landscaping. Loan proceeds will finance the property acquisition, cover transaction costs, establish reserves and fund renovations. Pepper Pike Capital was the borrower. David Scheer of Dwight originated the loan.
PLAINFIELD, N.J. — Regional owner-operator WinnCos. will undertake an affordable seniors housing renovation project in the Northern New Jersey community of Plainfield. Designed by New Jersey-based Inglese Architecture & Engineering, the project will modernize the 225-unit Richmond Towers and the 128-unit Joanne Hollis Gardens complexes and preserve the properties’ status as affordable for residents earning 30 percent or less of the area median income. Richmond Towers was built more than 50 years ago and features two 12-story towers housing 135 studio apartments and 90 one-bedroom apartments. Built in 1954 as West End Gardens, Joanne Hollis Gardens was rededicated in 2015 to posthumously honor the longtime resident who served as Plainfield housing commissioner and city councilwoman. The two-story, garden-style complex offers 16 one-bedroom, 66 two-bedroom, 32 three-bedroom and 14 four-bedroom apartments. WinnCos. is developing the project in partnership with the Housing Authority of Plainfield.
BURLINGTON, N.J. — Newmark has secured a 154,000-square-foot industrial lease in Burlington, located outside of Philadelphia in Southern New Jersey. According to LoopNet Inc., the newly constructed building at 1804 River Road features a cross-dock configuration, a clear height of 36 feet, two drive-in bays, 50 exterior dock doors and 229 car parking spaces. Kyle Eaton, Robert Loderstedt, Michael Schipper and Haylee McCabe of Newmark represented the tenant, automotive parts supplier GMB North America, in the lease negotiations. The name and representative of the landlord were not disclosed.