Fairway, Triad Properties to Develop 2 MSF Industrial Park in Huntsville

HUNTSVILLE, ALA. — Fairway Investments and Triad Properties have formed a joint venture for the development of Huntsville West Industrial Park, a 2 million-square-foot industrial park located on Greenbrier Parkway in Huntsville. The 135-acre distribution and warehouse project will be situated near I-65/I-565, as well at the $2.3 billion Mazda-Toyota plant and distribution centers leased to Amazon, Vuteq and Target. The Fairway-Triad joint venture has closed on the land purchase and is …

August 10, 2022Alabama, Development, Industrial, Southeast

Northmarq Arranges $55M Refinancing of Drury Plaza Hotel in Downtown Nashville

NASHVILLE, TENN. — Northmarq has arranged the $55 million refinancing of the Drury Plaza Hotel Nashville Downtown, a 22-story hotel situated at the corner of Korean Veterans Boulevard and Third Avenue South in downtown Nashville. An unnamed life insurance company provided the 10-year, fixed-rate, non-recourse loan, which was underwritten with a 25-year amortization schedule. Jeff Chaney and Dan Baker of Northmarq arranged the loan on behalf of the borrower, Drury Development Corp. Delivered …

August 10, 2022Hospitality, Loans, Southeast, Tennessee

Thorofare Capital Provides $28M Construction Loan for NuLu Yards Apartments in Louisville

LOUISVILLE, KY. — Thorofare Capital Inc., a Los Angeles-based affiliate of investment manager Callodine Group, has provided $28 million in construction financing for NuLu Yards, a 189-unit multifamily project in Louisville. The Class A property will anchor a larger mixed-use development in the NuLu neighborhood of Louisville. The borrower, Weyland Ventures, is also developing the first Tempo by Hilton adjacent to NuLu Yards, as well as a structured parking deck. David Perlman, Jacob Yi and …

August 10, 2022Development, Kentucky, Loans, Multifamily, Southeast

Matthews Brokers $27.2M Sale of Healthcare Property in Vestavia Hills, Alabama

VESTAVIA HILLS, ALA. — Matthews Real Estate Investment Services has brokered the $27.2 million sale of Swaid Vestavia Medical Center, a multi-tenant medical facility located at 1021 Montgomery Highway in Vestavia Hills, a southern suburb of Birmingham. The newly built property spans 40,000 square feet and features an ambulatory surgery center and medical office space leased to tenants such as the Surgical Institute of Alabama, Vestavia Diagnostics, Swaid Clinic, Bramlett Orthopedics, …

August 10, 2022Acquisitions, Alabama, Healthcare, Southeast

Rittenhouse Realty, Triad Negotiate $15M Sale of Student Housing Community Near University of Arkansas

FAYETTEVILLE, ARK. — Rittenhouse Realty Advisors, a member of GREA, and Triad Real Estate Partners have negotiated the $15 million sale of Champions Club. The newly constructed student housing community comprises 232 beds near the University of Arkansas campus. The property offers 76 two-, three- and four-bedroom units at 1629 S. Razorback Road in Fayetteville. Units are fully furnished and feature bed-to-bath parity. Community amenities include a swimming pool, fitness center, barbecue and …

August 10, 2022Acquisitions, Arkansas, Southeast, Student Housing

Lee & Associates’ Second-Quarter 2022 Economic Rundown by Sector

Rising interest rates, inflation and general economic uncertainty altered the patterns and outlooks for the industrial, office, retail and multifamily sectors across the United States. As Lee & Associates’ recent Q2 2022 North America Market Report reveals, certain sectors like industrial and multifamily, that were white hot last year, have begun to cool slightly. Meanwhile, retail is making historic gains in the face of decreasing interest in ecommerce. The full Lee & Associates …

August 10, 2022Content Partner, Features, Industrial, Leasing Activity, Lee & Associates, Life Sciences, Midwest, Multifamily, Northeast, Office, Retail, Southeast, Texas, Western

Joint Venture Breaks Ground on Clarendale West End Seniors Housing Project in Nashville

NASHVILLE, TENN. — A joint venture between Ryan Cos. US Inc., LCS and Harrison Street Real Estate Capital has broken ground on Clarendale West End, a planned 261,000-square-foot, five-story seniors housing community in Nashville’s West End district. Situated near Vanderbilt University and downtown Nashville, the property will offer 172 independent living, assisted living and memory care units. Amenities and services will include restaurants, bistro and bar options; private dining for …

August 9, 2022Development, Seniors Housing, Southeast, Tennessee

JLL Brokers $70.6M Sale of Grand Reserve Apartments in Central Florida

OCALA, FLA. — JLL has brokered the $70.6 million sale of Grand Reserve Apartment Homes, a 263-unit value-add multifamily community located at 3001 SW 24th Ave. in Ocala. Ken Delvillar led the JLL team that represented the seller, ApexOne Investment Partners, in the transaction. Melissa Marcolini Quinn and Lee Weaver led the JLL Capital Markets team arranging debt and equity financing totaling $65 million for the buyer, JT Capital. The debt provider was an unnamed life insurance company, and …

August 9, 2022Acquisitions, Florida, Multifamily, Southeast

Longpoint Partners Acquires Grocery-Anchored Shopping Center in South Florida for $43.3M

HIALEAH, FLA. — Boston-based Longpoint Partners has acquired El Paraiso, a grocery-anchored shopping center in the Miami suburb of Hialeah, for $43.3 million. Anchored by Sedano’s, the property was 98 percent leased at the time of sale to tenants including University Healthcare, Regions Bank and Pet Supermarket, as well as more than 30 shops. The seller was not disclosed. In addition to El Paraiso, Longpoint currently owns and operates three additional specialty grocery-anchored shopping …

August 9, 2022Acquisitions, Florida, Retail, Southeast

Berkadia Secures $43.5M Refinancing of Mixed-Use Property in Miami’s Design District

MIAMI — Berkadia has arranged a $43.5 million loan to refinance a 112,896-square-foot mixed-use property located at 4141 NE 2nd Ave. in Miami’s Design District. Scott Wadler, Matthew Nihan and Michael Basinski of Berkadia’s Miami office secured the financing on behalf of Dacra, a local real estate owner-operator that owns more than 1 million square feet of space. LMF provided the 10-year, fixed-rate loan. The property houses a combination of office and retail tenants, including B&B …

August 9, 2022Florida, Loans, Mixed-Use, Southeast