BOSTON — Locally based owner-operator The Davis Cos. has sold a 491-unit self-storage facility in Boston’s Brighton neighborhood. Davis acquired the facility at 235 N. Beacon St., which spans 28,885 net rentable square feet, in April 2018 and subsequently implemented capital improvements, as well as a 56-unit, second-story expansion. Extra Space Storage operates the facility, which was 90 percent occupied at the time of sale. The buyer was a joint venture between Invesco Real Estate and Baranof Holdings.
LONG BEACH, CALIF. — JLL Capital Markets has arranged $46.3 million in refinancing for 200 W. Ocean, a 106-unit multifamily community in downtown Long Beach. Jeff Sause, Jacob Michael and Thomas Gonzalez of JLL represented the undisclosed borrower in the financing. The property is an adaptive reuse of a former Class B office building that was redeveloped into a multifamily property atop a three-story subterranean garage. Delivered in August 2022, the community features an amenity deck with a pool and fireplaces, a fitness center and smart-entry features.
BEAVERTON, ORE. — High Street Residential, the residential subsidiary of Trammell Crow Co., along with joint venture partners SCOA Real Estate Partners and Lease Crutcher Lewis have broken ground for the development of a transit-oriented, mixed-use multifamily property in Beaverton. Slated for delivery in summer 2027, the project will replace a portion of the Cedar Hills Shopping Center and its underutilized surface parking. Situated on 5.8 acres between S.W. Wilshire Street and Park Way, the community will offer 369 apartments spread across three four- and five-story buildings and 5,040 square feet of ground-floor retail space. The studio, one-, two- and three-bedroom residences will range from 483 square feet to 1,528 square feet and feature contemporary floor plans. Onsite amenities will include an indoor/outdoor fitness area with a full spa, including an outdoor sauna and cold plunge, a residents-only speakeasy, sports bar, community greenhouse, sports simulator and a coworking area with conference rooms. Additionally, the property will offer direct access to Cedar Hills Crossing, proximity to Highways 26 and 217 and a short walk via a pedestrian bridge to the Sunset Transit Center. The project team includes LRS Architects, CID Design Group, Lango Hansen Landscape Architects, Humber Design Group, Froelich Engineers, Tenor …
ONTARIO, CALIF. — BH Properties has completed the disposition of Lakeview, a Class A office campus in Ontario, to MGR Real Estate for $24.7 million. Situated on a 7.8-acre site, the asset consists of two three-story buildings offering a total of 106,345 square feet, as well as 1.85 acres of excess land. The campus was built in late 2004 as part of the master-planned Centrelake Business Park. Paul Jones, Brandon White and Kevin Shannon of Newmark represented the seller, while Michael Rademaker and Tony Hermosillo of MGR Real Estate represented the buyer in the deal.
OXNARD, CALIF. — Matthews Capital Markets has secured a $22.5 million acquisition loan for a four-property medical office and regional center portfolio in Oxnard. Geoffrey Arrobio of Matthews Capital Markets handled the financing. The undisclosed borrower acquired the 193,066-square-foot portfolio at a 10 percent cap rate. Located at 1701 and 1801 Solar Drive, 1901 Rice Ave. and 2401 E. Gonzalez Road, the portfolio was 92 percent occupied at the time of sale. The borrower plans to execute a value-add business plan that includes expanding certain medical uses, interior building upgrades and implementing energy-efficient systems, including solar.
PROVIDENCE, R.I. — FM, a Rhode Island-based commercial property insurer, has acquired 10 Memorial Boulevard, an office building in downtown Providence. According to LoopNet Inc., the 10-story building was constructed in 2006 and totals 290,000 square feet. Amenities include a fitness center and an onsite restaurant, per LoopNet. FM plans to occupy a portion of the space. The seller and sales price were not disclosed.
CHICAGO — A 50-room boutique hotel is planned for Chicago’s Northalsted community named Backbeat Hotel. The first hotel of its kind in the heart of the city’s LGBTQ+ neighborhood, the 41,000-square-foot property will offer modern, design-forward accommodations, including 12 suites. Amenities will include a rooftop pool, street-level restaurant, gathering spaces and a below-ground lounge. Built on the site of the renowned Northalsted fixture Yoshi’s Café, which shuttered in 2021, the six-story hotel project is designed by Miami-based Studio Rodrigo Buelvas in collaboration with Chicago-based Jonathan Splitt Architects. Inspired by Chicago’s connection to the origins of house music, “Backbeat” draws its name from the music that rose from disco basements and house lofts on Halsted Street. Demolition of the existing structure is slated for later this year, with an anticipated opening in 2028.
WESTFIELD, IND. — Structural engineering firm O’Donnell & Naccarato has topped out the new Westfield Police Headquarters, a $35 million public safety facility. The new headquarters, rising two stories and totaling 63,000 square feet, will replace the city’s existing public safety building. The project team includes architect Dewberry, construction manager Skender and the City of Westfield as the project owner. The design incorporates a range of structural systems and materials as well as a 2,700-square-foot storm shelter. The project also includes planning for a future 30,000-square-foot expansion to accommodate the city’s growth. The topping out marks the completion of the building’s structural framework. The project is on track for completion in 2027.
KANSAS CITY, MO. — The Fold, a new American restaurant concept from the team behind Roots Seasonal Cuisine in Lee’s Summit, Mo., will open at Corrigan Station in the heart of Kansas City’s Crossroads Arts District. The Fold will occupy 6,072 square feet in the former Corvino restaurant space. Todd Richards, bar manager for Roots, along with Amanda Accurso and Brandon Sharp, owners of Roots, are partners in The Fold, which will offer a wide range of culinary options. The restaurant is scheduled to open Friday, May 22. The Fold’s name reflects the restaurant’s vision of being a welcoming place for people from all walks of life, according to Corrigan Station owner Copaken Brooks.
NORTH BAY VILLAGE, FLA. — Continuum Co. has obtained $350 million in construction loans for Continuum Waterfront District, a 4-acre master-planned development located along Biscayne Bay in North Bay Village. S3 Capital provided $261 million in financing for the Continuum Club & Residences West, a condo that broke ground in 2025, according to the South Florida Business Journal. The second loan, also provided by S3 Capital, is $83 million for pre-development of the second phase, which will include a hotel and a second condo building. Continuum Co. is developing both phases in partnership with Aksoy Holding, an ownership and development firm based in Turkey. The 36-story Continuum Club & Residences West is slated for completion for July 2028 and will comprise 236 condos, which are 50 percent pre-sold, as reported by South Florida Business Journal. Phase II, which is targeted for completion in 2030, will include 300 additional luxury condominiums. The second phase also features the first Continuum hotel (a member of Preferred Hotels & Resorts), a 20-slip commercially zoned marina, waterfront dining and the “Island Walk,” an activated public green space and bayfront promenade. The project team includes West Palm Beach-based Kast Construction (general contractor), Miami-based Arquitectonica (architect) and Durukan …