SEATTLE — High Street Residential (HSR), the residential subsidiary of Trammell Crow Co., and capital partner MetLife Investment Management have broken ground on a residential community in Seattle. Slated for completion in fourth-quarter 2026, the seven-story, transit-oriented development is situated in Seattle’s Roosevelt neighborhood. Located at 6716 Roosevelt Way NE, the property will offer 244 studio, one- and two-bedroom apartments with air conditioning, a unique feature among multifamily projects in the Roosevelt neighborhood. Community amenities will include a two-story coworking space, rooftop clubroom with indoor and outdoor spaces, fitness center and ground-floor retail space. The property is located a half block from the Roosevelt Link Light Rail station, offering residents an 11-minute commute to downtown Seattle, a 35-minute commute to downtown Bellevue, Wash., and a 48-minute commute to Overlake and Redmond, Wash. Weinstein A+U designed the project and Chinn Construction is serving as general contractor. Avenue5 will serve as property manager.
VISALIA, CALIF. — Northmarq has arranged $29.5 million in refinancing for Quail Park at Shannon Ranch, a seniors housing property at 3440 W. Flagstaff Ave. in Visalia. Quail Park offers 120 independent living, assisted living and memory care studio, one- and two-bedroom floor plans, as well as adjoining studio suites. Units include full-size kitchens, in-home washers/dryers, weekly housekeeping and linen services, scheduled transportation and pet-friendly rooms with available personalized pet care. Community amenities include a sports den, theater, pub, beauty salon, chef-prepared meals with signature anytime dining options, a fitness center with a swimming pool and fitness classes, and an on-site personal trainer. The community is operated by Seattle-based Living Care Lifestyles, and the ownership group includes the principal of Living Care Lifestyles, several investors local to Visalia and Kaweah Health System of Visalia. Northmarq’s Seattle Debt + Equity team led by Stuard Oswald secured the financing on behalf of the borrower, Northwest Visalia Senior Housing LLC, through a correspondent relationship with Poppy Bank of California. The financing was structured on a 10-year term with interest-only payments for the first five years. The loan proceeds were used to retire a bridge loan that Northmarq originated in 2021.
Woodside Health Development Buys Paradise Valley Plaza Office, Medical Complex in Phoenix for $20.9M
PHOENIX — Cleveland, Ohio-based Woodside Health Development has purchased Paradise Valley Plaza, a multi-tenant office and medical complex in Phoenix, from Cloud Peak Development for $20.9 million. Located at 5010, 5020 and 5040 E. Shea Blvd., the three-building, 100,203-square-foot asset is 95 percent leased to a tenant mix of 50 percent office and 50 percent medical/wellness tenants. The complex features drive-up exterior loading suites, interior and outdoor courtyards, breezeways and balcony spaces. Eric Wichterman, Mike Coover and Chris Toci of Cushman & Wakefield’s Private Capital Markets in Phoenix represented the seller in the transaction.
LAWRENCE, KAN. — The Preiss Company has acquired The Collective at Lawrence, a 784-bed, cottage-style community located near the University of Kansas in Lawrence. Formerly known as The Nest, The Collective at Lawrence was built in 2018 and offers 270 units. Shared amenities include a state-of-the-art clubhouse, indoor/outdoor fitness center, swimming pool, hot tub, disc golf course, soccer field and study areas. Enhancements are planned for the community and will include comprehensive technology upgrades.
MORTON GROVE, ILL. — Pearlmark has provided a $7.4 million mezzanine debt investment for the recapitalization of The Residences at Sawmill Station, a 250-unit apartment complex in the Chicago suburb of Morton Grove. Pearlmark Mezzanine Realty Partners V LP originated and structured the investment. Wintrust Bank provided the senior loan, extending its existing loan on the property. UrbanStreet Group is the owner and developer. The Residences at Sawmill Station is part of a 26-acre mixed-use development that includes a 240,000-square-foot lifestyle center. Amenities include a pool, fitness center, coworking offices, a resident lounge, dog spa, pet park and covered garage. Mark Witt of Pearlmark arranged the transaction.
ST. LOUIS — Global design firm HOK has signed a lease to relocate its St. Louis office to Peabody Plaza at 701 Market St. next year. Avison Young represented the tenant, while CBRE represented the owner, Briar Meads Capital. The lease commences in September 2025. HOK will occupy approximately 42,000 square feet across the building’s fourth and fifth floors, including an outdoor terrace. HOK’s new space is 3,000 square feet larger than its current location at 10 S. Broadway. The firm’s interior designers are crafting the new office with various space types such as outdoor work and gathering spaces, a design resource center and maker space/model shop. HOK announced its intention to stay downtown during a staff meeting earlier this year.
WASHINGTON, D.C. — PRP has obtained a $291 million CMBS loan for the refinancing of a national logistics portfolio totaling more than 4.5 million square feet. Eastdil Secured arranged the single-asset single-borrower (SASB) loan through JP Morgan. The portfolio spans five newly constructed buildings in the industrial markets of Houston; Greenville-Spartanburg, S.C.; St. Louis, Ill.; and Birmingham, Ala. The properties were fully leased at the time of financing including to tenants including a global online retailer, a home improvement company and power tool manufacturer, according to Washington, D.C.-based PRP.
ITASCA, ILL. — The RDI Group, a manufacturer of engineered systems for the roofing, construction, power, metal coil processing and medical industries, has signed a 43,845-square-foot industrial lease at 940-942 Thorndale Ave. in Itasca. Jeff Janda of Lee & Associates represented the tenant, while Mike Plumb of Lee & Associates represented the owner, Link Logistics. Cabot Properties manages the building.
KANSAS CITY, KAN. — TruCore Investments has purchased a 17,250-square-foot cross-dock truck terminal and maintenance facility at 6125 Speaker Road in Kansas City. The industrial outdoor storage property is situated on 5.4 acres and features 31 dock doors, two drive-in bays and a fully fenced concrete yard. Initially, the facility will be leased for a short term to the current tenant. Following this period, TruCore will market the property for lease.
DACULA, GA. — Hanley Investment Group Real Estate Advisors has arranged the $25 million sale of Publix at Harbins 316, a grocery-anchored shopping center located at 952 Harbins Road in Dacula, an Atlanta suburb in Gwinnett County. Built in 2023, the 69,807-square-foot shopping center is situated near the new Ga. Highway 316 and U.S. Highway 29 intersection. The property was fully leased at the time of sale to tenants including Publix, Great Clips, Starbucks Coffee, Jersey Mike’s Subs, Wingstop, The UPS Store and Heartland Dental. Ed Hanley and Kevin Fryman of Hanley, along with ParaSell Inc., represented the buyer, a 1031 exchange investor based in San Diego, in the transaction. Chris Decouflé, Kevin Hurley and Matt Karempelis of CBRE represented the seller, Atlanta-based Watkins Real Estate Group.