DALLAS — Social Llama Events has signed a 50,508-square-foot industrial lease in West Dallas. The locally based experiential event design and production company will use the entirety of the space at 4919 Woodall St. for office, storage and fabrication purposes. Lena Thomas of Stream Realty Partners represented the landlord, Dallas-based developer M2G Ventures, in the lease negotiations. Social Llama was self-represented.
BEND, ORE. — Signal Ventures has obtained $15.5 million in construction financing for the development of Badger Road, Bend Self Storage, a ground-up self-storage facility located at 20130 Badger Road in Bend. Jonah Aelyon, Taylor Simian and John Williamson of JLL Capital Markets secured the loan through Live Oak Bank for Signal Ventures. Brian Somoza and Adam Roosien of JLL’s National Self Storage team handled the site transaction. The shovel-ready development will deliver 118,800 gross square feet with 92,584 net rentable square feet across 877 climate-controlled units.
MESA, ARIZ. — Stoneweg has completed the disposition of Avenue 8, a garden-style multifamily property in Mesa. Rise48 Equity acquired the asset for an undisclosed price. Brett Polachek, Chris Chanter and Brad Goff of Newmark represented the seller in the transaction. Located at 1050 W. 8th Ave., Avenue 8 features 194 open-concept, two-bedroom/two-bath apartments averaging 1,000 square feet in size. All units include in-unit washers/dryers, private patios or balconies and abundant storage. Community amenities include a resort-style swimming pool and spa, fitness center, pet park and covered parking.
BOWLING GREEN, KY. — The Western Kentucky University (WKU) Board of Regents has approved the “Elevate WKU” development plan with Gilbane Development Co., a global real estate development firm, to launch the first phase of a multi-year student housing initiative on the WKU campus in Bowling Green. The Kentucky Capital Projects and Bond Oversight Committee also approved the partnership this week. The $350 million initiative is the largest residential investment in WKU’s history, according to Gilbane. Phase I of the development will replace Hugh Poland and Douglas Keen Halls with a new roughly 1,000-bed residential complex featuring suite-style options, community kitchens, collaborative lounges, expanded community spaces, tech-enabled learning environments and enhanced safety and accessibility features. The facility is expected to open in fall 2028. Gilbane is developing the Elevate WKU master plan in a public-private partnership with the university under a 50-year ground lease model. Under the structure, WKU will enter into a ground lease with the Collegiate Housing Foundation (CHF) — a national 501(c)(3) organization — which will serve as owner and borrower. Gilbane and WKU have selected Inwood Management to oversee the day-to-day operations and physical maintenance of the Elevate WKU portfolio alongside the university’s Residence Life team. Future phases will address renovations of existing …
TUSCALOOSA, ALA. — Greystone has provided a $28.2 million Freddie Mac loan to finance the purchase of Landmark Apartments, a 264-unit multifamily community located in Tuscaloosa. Elliott Mulkin of Greystone originated the five-year loan, which features a 30-year amortization schedule and interest-only payments. The borrower and seller were not disclosed. Andrew Brown and Craig Hey of Cushman & Wakefield represented the buyer in the sale. Built in 2007, Landmark Apartments spans 23 acres and comprises a mix of one-, two- and three-bedroom floorplans. Amenities at the garden-style community include a resort-style swimming pool, fitness center with yoga studio, resident clubhouse, business center and outdoor gathering spaces.
NEW ORLEANS — SRSA Real Estate has negotiated the $7.2 million sale of a ground-floor retail condominium at 1200 Poydras St. in New Orleans near the Caesars Superdome, home of the NFL’s New Orleans Saints. Chick-fil-A and Hurts Donut anchor the 17,270-square-foot space, with Juicy Seafood expected to open immediately. Steve Reisig and Christopher Robertson Jr. of SRSA Real Estate represented the seller, an entity doing business as Poydras Properties II LLC, in the transaction. The buyer requested anonymity.
BROCKTON, MASS. — MassHousing has provided $50 million in financing for an affordable housing redevelopment project in Brockton, a southern suburb of Boston. The financing consists of $28.2 million in permanent debt, $20.7 million in tax credit bridge financing and $1 million in Capital Magnet Fund financing. Santander Bank is financing construction. The property in question is Campello Apartments, a distressed public housing project that was originally built in 1972, and the redevelopment will involve the demolition of a single-story building and two existing Campello high-rise buildings totaling 398 units. The first of the project’s three planned phases will feature a seven-story building with 144 units that will be reserved for households earning between 30 and 60 percent of the area median income. Amenities will include a main lounge on the ground floor, as well as laundry, fitness and social gathering spaces. The Brockton Housing Authority and Cambridge Housing Authority are leading the redevelopment, with BWA Architecture handling design and Shawmut Construction serving as the general contractor. An expected completion date was not announced.
PISCATAWAY, N.J. — Landmark Cos. has acquired The Grove at Piscataway, a 110-unit apartment complex in Northern New Jersey, for $35 million. Built in 2020, the property consists of three residential buildings that house one- and two-bedroom units with an average size of 978 square feet, as well as a clubhouse building. Twenty percent (22) of the units are subject to income restrictions. Other amenities include a pool, outdoor grilling and dining stations, a fitness center, social lounge with billiards and coworking space. Mike Oliver, Jose Cruz, Steve Simonelli, Elizabeth DeVesty, Ryan Robertson and Austin Pierce of JLL represented Landmark in the transaction. The seller was not disclosed.
MAMARONECK, N.Y. — Cushman & Wakefield has arranged a $28.2 million acquisition loan for a portfolio of six small-bay industrial buildings in Mamaroneck, located north of New York City in Westchester County. The square footage of the portfolio was not disclosed. John Alascio, T.J. Sullivan and Mitch Rothstein of Cushman & Wakefield originated the floating-rate loan through Sound Point Capital Management. The borrower was also not disclosed.
WESTWOOD, MASS. — Locally based investment firm The Grossman Cos. has purchased a 119,500-square-foot healthcare building in Westwood, located southwest of Boston. The building at 80 Wilson Way is fully leased to Beth Israel Lahey Health Inc. Grossman has appointed local brokerage and advisory firm KeyPoint Partners to manage the building. The seller and sales price were not disclosed.