REBusinessOnline

Duke Health Opens $102.4M Behavioral Healthcare Facility in Durham

DURHAM, N.C. — Duke Health has opened a newly built center at Duke Regional Hospital in Durham that services behavioral therapy patients. The new center plans to combine the behavioral health services that had been offered separately at Duke University and Duke Regional hospitals. The facility, known as Duke Behavioral Health Center North Durham, cost $102.4 million to build.The Duke Behavioral Health Center North Durham project also includes an expansion of the hospital’s emergency …

Balfour Beatty, Related Group Break Ground on Two-Tower Residential Project in West Palm Beach

WEST PALM BEACH, FLA. — Balfour Beatty has broken ground on Icon Marina Village, a two-tower, 24-story residential development in West Palm Beach. Related Group is the developer of the project, which will be located close to the Intracoastal Waterway, Atlantic Ocean, Palm Beach Island and downtown West Palm Beach. Balfour Beatty and Related Group plan to deliver Icon Marina Village in 2023. Designed by Miami-based Arquitectonica, Icon Marina Village will feature two high-rise towers that …

Alliance Residential Delivers Broadstone Summerhill Apartments in South Atlanta

ATLANTA — Scottsdale, Ariz.-based Alliance Residential Co. has delivered Broadstone Summerhill, a new multifamily development located in the heart of Atlanta’s Summerhill neighborhood on the city’s south side. This property is Alliance Residential’s latest development in the Atlanta area, with three additional developments under construction and three properties recently opening. Broadstone Summerhill comprises of three residential buildings with 276 studio, one- and two-bedroom …

Publix to Occupy 42,514 SF at Interlock Mixed-Use Project by S.J. Collins in Atlanta’s West Midtown

ATLANTA — Publix will occupy a 42,514-square-foot store for the second phase of The Interlock, a mixed-use development underway at the intersection of Ethel Street and Northside Drive in Atlanta’s West Midtown district. Demolition for the site will begin in May, and vertical construction will start in the fall of 2022. S.J. Collins Enterprises is the landlord.Phase I of The Interlock is a nine-acre, mixed-use property located at 1115 Howell Mill Road N.W. The development includes …

Ready Capital Closes $53.6M Acquisition Financing for Multifamily Property in Atlanta

ATLANTA — Ready Capital has closed a $53.6 million loan for the acquisition, renovation and stabilization of a 294-unit, Class B multifamily property in Atlanta. Upon acquisition, the sponsor will implement a capital improvement plan to upgrade the property and mark rents to market. The borrower and property name were not disclosed.The non-recourse, interest-only, floating-rate loan features a 36-month term, two extension options, flexible prepayment and is inclusive of a facility to …

WSS Development Breaks Ground on $100M Luxury Apartment Project in Huntsville, Alabama

HUNTSVILLE, ALA. — WSS Development LLC has broken ground on 2020 at Providence, a $100 million luxury apartment project in Huntsville. The development is situated within the larger 305-acre Village of Providence master-planned community.Located at the intersection of Providence Main Street and Town Center Drive, 2020 at Providence will feature 360 luxury apartment units and 20,000 square feet of ground-floor retail space. More than 70 percent of the retail space has been leased to …

Estate Cos. Receives $29.5M in Construction Financing for Hotel Redevelopment in South Florida

HIALEAH, FLA. — The Estate Cos., a developer of multifamily projects throughout South Florida, has received approximately $29.5 million in construction financing for the multifamily conversion of a former Ramada Inn at 1950 W. 49th St. in Hialeah. Centennial Bank provided approximately $22.45 million in construction financing, and LV Lending provided a $7 million mezzanine loan.The hotel will be transformed into Alture Westland, a four-story garden-style community with 251 rental units …

Abbhi Capital Purchases One-Acre Development Parcel at Miami Worldcenter for $20M

MIAMI — Abbhi Capital, a Coral Gables, Fla.-based investment firm, has purchased a one-acre parcel within Miami Worldcenter for $20 million. The seller was Miami Worldcenter Associates, the developer behind Miami Worldcenter doing business as MWC Block A LLC. The $4 billion, 27-acre mixed-use development is now underway in downtown Miami across 10 city blocks. Robert Given, Troy Ballard and James Quinn of Cushman & Wakefield represented the seller in the land transaction.The assemblage …

Stan Johnson Brokers $11.1M Sale of Burlington-Anchored Shopping Center in Metro Richmond

CHESTERFIELD, VA. — Stan Johnson Co. has brokered the sale of Hancock Village Phase II, a 61,500-square-foot shopping center located at 14601 Hancock Village St. in Chesterfield. The multi-tenant retail center, anchored by Burlington, was fully leased at the time of sale. The buyers were private investors based in Lexington, Ky., that were represented by Jason Taylor of Equity Management Group Inc. The buyers purchased the property for $11.1 million to complete a 1031 exchange. Margaret …

Pintar Investment Secures $9.3M Refinancing for Single-Family Rental Community in Winter Haven, Florida

WINTER HAVEN, FLA. — Pintar Investment Co. has secured $9.3 million in refinancing for Lake Lucerne, a 56-unit single-family rental home community in Winter Haven.LendingHome, a San Francisco-based lender for residential investors, provided Pintar with the loan. Pintar chose LendingHome in 2019 to supply a $6.3 million acquisition loan, and Pintar selected LendingHome again to refinance the bridge loan.Built in 2019, Lake Lucerne’s homes feature four-bedroom floor plans averaging …

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