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375-Broadway-Chelsea-Massachusetts
Affordable HousingLoansMassachusettsMultifamilyNortheast

MassHousing Provides $10.6M in Financing for Metro Boston Affordable Housing Project

by Taylor Williams

CHELSEA, MASS. — MassHousing has provided $10.6 million in financing for 375 Broadway, a 62-unit affordable housing project in Chelsea, a northeastern suburb of Boston. The financing consists of $7.7 million in permanent financing and $2.9 million in workforce housing financing. The developer, a partnership between Arx Urban and Boston Communities, will construct a 43-unit building from the ground up and rehabilitate a 19-building. Units will come in studio, one-, two- and three-bedroom floor plans and will feature a range of income restrictions. Construction is expected to be complete by the end of 2026.

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AcquisitionsIndustrialMidwestMinnesota

PCCP, Capital Partners Acquire 382,635 SF Industrial Building in Brooklyn Park, Minnesota

by Kristin Harlow

BROOKLYN PARK, MINN. — A joint venture between PCCP LLC and Capital Partners has acquired 9001 Wyoming, a 382,635-square-foot industrial building in the Minneapolis suburb of Brooklyn Park. Built in 2000 and situated on a 24.8-acre site, the property features a clear height of 32 feet, 229 car parking spaces and 115 trailer parking spaces. Amazon fully occupies the facility. The transaction marks PCCP’s sixth joint venture with Capital Partners, a local owner and operator of more than 14 million square feet of industrial product. The seller and sales price were undisclosed.

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DevelopmentHospitalityKansasMidwest

Price Brothers Breaks Ground on 99-Room Holiday Inn Express Hotel at Bluhawk Development in Kansas

by Kristin Harlow

OVERLAND PARK, KAN. — Price Brothers has broken ground on a 99-room Holiday Inn Express hotel at the Bluhawk mixed-use development in Overland Park, a suburb of Kansas City. The project marks the first of three planned hotels within The Boundary, a retail and lifestyle center. The hotel is scheduled for completion in spring 2026 in time to welcome guests for the FIFA World Cup. Additionally, Barnes & Noble and J. Crew Factory are scheduled to open at The Boundary this summer.

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Leasing ActivityMidwestOhioRetail

FNRP Adds Three New Tenants at Carriage Place Shopping Center in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — First National Realty Partners (FNRP) has added three new tenants — Fun City Trampoline Park, Pet Supplies Plus and Port of Peri Peri — at Carriage Place shopping center in Columbus. The additions bring the shopping center to 99 percent occupancy. Fun City is open and occupies 35,540 square feet in the space formerly home to Cinemark theater, which closed in 2023. Pet Supplies Plus, set to open in early 2026, will occupy 7,913 square feet. Port of Peri Peri, expected to open in late 2025, will introduce Portuguese African cuisine at its 2,400-square-foot space.

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AcquisitionsIllinoisIndustrialMidwest

Brennan Purchases 38,135 SF Industrial Property in Broadview, Illinois

by Kristin Harlow

BROADVIEW, ILL. — Brennan Investment Group has purchased a 38,135-square-foot industrial property in Broadview, about 12 miles west of downtown Chicago. The single-tenant building is located just off I-290 at the four-way 25th Avenue interchange. The property is fully leased to MYR Group, an electrical construction business. Bill Lussow of Bespoke Commercial Real Estate represented the undisclosed seller.

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AcquisitionsHealthcareMidwestWisconsin

CBRE Brokers Sale of 23,805 SF Calhoun Health Center in Brookfield, Wisconsin

by Kristin Harlow

BROOKFIELD, WIS. — CBRE has brokered the sale of the 23,805-square-foot Calhoun Health Center in the Milwaukee suburb of Brookfield for an undisclosed price. The Class A medical office building is located at 1905 N. Calhoun Road and is fully leased and anchored by Froedtert ThedaCare Health in partnership with the Medical College of Wisconsin. The facility was completed in 2016. Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Trent Jemmett, Jesse Greshin and Devin Tessmer of CBRE represented the seller. The buyer was Chicago-based Remedy Medical Properties in a joint venture with Kayne Anderson Real Estate.

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LoansMultifamilyNew YorkNortheast

ERG Commercial Arranges $7M Construction Loan for Queens Multifamily Project

by Taylor Williams

NEW YORK CITY — New York City-based ERG Commercial Real Estate has arranged a $7 million construction loan for a 28-unit multifamily project that will be located in the Jamaica area of Queens. The building will be located at 166-13 91st St. and will rise 16 stories. Information on specific floor plans and amenities, as well as the direct lender and borrower, was not disclosed.

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Leasing ActivityNew YorkNortheastOffice

Coalition Space Opens 15,736 SF Flexible Workspace in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Coalition Space has opened a 15,736-square-foot flexible workspace at 485 Madison Avenue in Midtown Manhattan. The lease term is 10 years, and the space is known as Coalition Space Grand Central. Bert Rosenblatt and Alex Gerome of Cresa represented Coalition Space in the lease negotiations. Adam Rappaport and Brett Greenberg internally represented the landlord, Jack Resnick & Sons.

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Leasing ActivityNew YorkNortheastOffice

POSH Group Signs 11,436 SF Office Lease Expansion in Manhattan’s SoHo District

by Taylor Williams

NEW YORK CITY — Posh Group Inc. has signed a 11,436-square-foot office lease expansion in Manhattan’s SoHo district. The event manager and brand promoter has effectively doubled its footprint to 22,637 square feet across two full floors at 40 Crosby, a five-story building. KPG Funds owns 40 Crosby, which offers 34,229 square feet of office space and 18,000 square feet of retail space on the ground floor.

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Grand Hyatt Miami Beach
DevelopmentHospitalityLoansTop Stories

Terra, Turnberry Receive $392M Construction Financing for Miami Beach Grand Hyatt Hotel

by Channing Hamilton

MIAMI BEACH, FLA. — Terra and Turnberry have received $392 million in financing for the construction of Grand Hyatt Miami Beach, an 800-room hotel situated adjacent to the Miami Beach Convention Center. TYKO Capital, a New York City-based private equity and private credit investment management platform, provided the financing to the South Florida-based developers.  Grand Hyatt Miami Beach will rise 17 stories at 17th Street and Convention Center Drive. The property will offer 12 floors of guest rooms, including 52 suites with views of Miami Beach. Additionally, four floors will feature meeting and ballroom spaces. Guests will have access to a pool deck with panoramic city views, a restaurant, lobby lounge and bar, as well as street-level retail space. The hotel will feature direct access to the Miami Beach Convention Center via a climate-controlled sky bridge. Plans for the development also call for new public spaces, pedestrian-friendly promenades, bike-sharing stations and connectivity to public transit. According to sources familiar with the transaction, Eastdil Secured was involved in arranging the debt on behalf of Terra and Turnberry. Arquitectonica designed the hotel, and Balfour Beatty is serving as the general contractor. The Miami Beach Redevelopment Agency awarded a $75 million grant for the project in 2024. Grand …

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