REBusinessOnline

HUD Awards $1.1B in American Rescue Plan Funds for Emergency Housing Vouchers

WASHINGTON, D.C. — The U.S. Department of Housing and Urban Development (HUD) has awarded the first portion of American Rescue Plan funds for Emergency Housing Vouchers (EHVs) to be utilized by individuals and families who are experiencing homelessness or at risk of homelessness. HUD is awarding $1.1 billion via 70,000 vouchers for 626 public housing authorities (PHAs) administering the agency’s Housing Choice Voucher Program.The voucher awards are part of the American Rescue Plan Act …

Henderson Park, South Street Acquire 20,000-Acre Waterfront Resort Near Hilton Head

PALMETTO BLUFF, S.C. — Henderson Park Capital Partners and South Street Partners have formed a joint venture to acquire Palmetto Bluff, a 20,000-acre resort in Bluffton that is surrounded by 32 miles of riverfront. The price was not disclosed.Palmetto Bluff features nature trails; two village centers complete with river access, boat storage and a canoe club; dining options; the Montage Palmetto Bluff resort; and a Jack Nicklaus Signature Golf Course. The land includes available …

Nuveen Nears Completion of $55M Renovation at Three Office Properties in Miami

MIAMI — Nuveen Real Estate is nearing completion of renovations at three of its office properties in Miami. The assets are located at 801 Brickell and 701 Brickell in the city’s Brickell financial district and at Waterford Business District, a 250-acre office hub that Nuveen co-owns with Allianz Real Estate. The capital improvements total $55 million in value and include digital, touchless features, new tenant amenities, building systems upgrades and other upscale renovations. The three …

Cushman & Wakefield Arranges $9.9M Sale of Hollywood Design Center in South Florida

HOLLYWOOD, FLA. — Cushman & Wakefield has arranged the $9.9 million sale of Hollywood Design Center, a fully leased, 57,383-square-foot industrial building in Hollywood.Dominic Montazemi, Mike Ciadella, Scott O’Donnell, Greg Miller and Miguel Alcivar of Cushman & Wakefield represented the seller, an entity doing business as Avid Asset Properties Hollywood LLC, in the transaction. Larry Genet and Tom O’Loughlin of CBRE also assisted the seller in the transaction. The buyer was …

Bristol Development, Hallmark Partners Open 308-Unit Vista Brooklyn Apartments in Jacksonville

JACKSONVILLE, FLA. — Bristol Development Group and Hallmark Partners have opened Vista Brooklyn, an apartment community situated between Five Points and downtown Jacksonville.Located at 200 Riverside Ave. on the corner of Riverside Avenue and Jackson Street, Vista Brooklyn includes 308 units ranging from studios to three-bedroom apartments. The community offers common and coworking spaces and views of downtown Jacksonville and the St. Johns River. Community amenities include a rooftop …

Baltimore’s Stable Apartment Market Attracts New, Returning Buyers

Consistent with much of the nation, the Mid-Atlantic region locked down at the onset of the COVID-19 pandemic in March 2020. However, by late August 2020 and throughout the first quarter of 2021, activity in the multifamily asset class picked up considerably.As operations stabilized and investors could better determine valuations, regional transaction volume quickly heated up as investors returned with pent-up demand. Aided in part by the continued government stimulus and rent regulation in …

CIP Miami Springs, LV Lending Break Ground on 120,225 SF Mixed-Use Project in Metro Miami

MIAMI SPRINGS, FLA. — CIP Miami Springs and LV Lending have broken ground on Miami Springs Town Center, a 120,225-square-foot mixed-use project located at 1 Curtiss Parkway in Miami Springs, about 10 miles outside of downtown Miami. The project is scheduled to be complete in the second quarter of 2022.Designed by Cabrera Ramos Architects, Miami Springs Town Center will feature a 50,725-square-foot, three-story residential building with 51 apartments, 23,500 square feet of retail space on …

Meridian Group Signs Two Office Tenants to Anchor 1333 New Hampshire Avenue in D.C.

WASHINGTON, D.C. — The Meridian Group has signed two new anchor tenants at 1333 New Hampshire Avenue in the center of Dupont Circle in Washington, D.C. The two office tenants, American Bankers Association (ABA) and the Patient-Centered Outcomes Research Institute (PCORI), together will lease more than half of the 350,000-square-foot building, which is in the final stages of a renovation.ABA, which is moving its headquarters to 1333 New Hampshire from its previous location at 1120 …

JLL Brokers $37.6M Sale of Sprouts-Anchored Shopping Center in Roswell, Georgia

ROSWELL, GA. — JLL Capital Markets has brokered the $37.6 million sale of Roswell Market Place, a fully leased, 95,522-square-foot shopping center in the metro Atlanta city of Roswell. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the locally based seller, Branch Properties LLC, in the sale. East Coast Acquisitions acquired the property.Roswell Market Place is located at 10800 Alpharetta Highway. Built in 1986 and most recently renovated in 2015 and 2016, the retail …

NorthMarq Provides $10.8M HUD-Insured Loan for Hurstbourne Heights Apartments in Louisville

LOUISVILLE, KY. — NorthMarq has provided a $10.8 million HUD-insured loan for the refinancing of Hurstbourne Heights Apartments, an 84-unit multifamily property located at 7603 Downs Farm Place in Louisville. The transaction was structured with a fully-amortizing 35-year term. Randall Waddell of NorthMarq originated the non-recourse, fixed-rate loan on behalf of the undisclosed borrower.Hurstbourne Heights is located in the Highview area of Jefferson County, and situated close to GE’s …

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