REBusinessOnline

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 …

Partners Group Sells East Coast Industrial Portfolio for $1B

BAAR, SWITZERLAND — Partners Group has sold an industrial portfolio on the East Coast in excess of $1 billion on behalf of its institutional clients. The 8.6 million-square-foot portfolio comprises 88 shallow-bay and bulk distribution centers located across five markets: Raleigh-Durham, Atlanta, Nashville, Norfolk and Shenandoah Valley in Virginia.“We are proud to see the transformational results of the work we have done during the past three years and believe this exit represents an …

IPA Negotiates $88M Sale of District at Grand Terrace Apartments in Colton, California

COLTON, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $88 million sale of District at Grand Terrace, a 352-unit apartment community located in the Inland Empire city of Colton. The sales price equates to $250,000 per unit.Built in phases between 1980 and 1986, District at Grand Terrace is located near the San Bernardino Freeway, just off Interstate 215 and about seven miles from downtown San Bernardino.The property features …

NorthMarq Arranges $166M in Capital for The Launch Apartment Development in Alameda, California

ALAMEDA, CALIF. — NorthMarq has arranged $166 million in joint venture equity and construction financing for The Launch, a 368-unit waterfront apartment community in Alameda.The Launch will be located at 1777 Clement Ave. at the northern edge of Alameda Island along the Oakland Estuary. The property is located 16 miles from San Francisco and 39 miles from San Jose. The project will feature a mix of market-rate, below-market-rate and work-live units along with an onsite leasing office. …

Cordish Cos. to Break Ground on Two Multifamily Developments in Kansas City’s Power & Light District

KANSAS CITY, MO. — The Cordish Cos. has announced plans to break ground on two multifamily developments in Kansas City’s Power & Light District. Projects include Three Light Luxury Apartments, a $140 million, 26-story tower set to offer 288 units at the corner of Truman Road and Main Street; and Midland Lofts, a repositioning of the historic Midland office building to offer 139 affordable housing units.Three Light Luxury Apartments will feature 19 floors of studio, one- and …

Cushman & Wakefield Arranges $750M Refinancing for Burlingame Point Office Campus on San Francisco Peninsula

BURLINGAME, CALIF. — Cushman & Wakefield has arranged $750 million for the refinancing of Burlingame Point, a Class A office, R&D and life sciences campus located on the San Francisco Peninsula in Burlingame. The property includes four buildings totaling approximately 771,000 rentable square feet, along with a 33,000-square-foot amenity building and more than 2,300 onsite parking spaces.The waterfront property is centrally located between Silicon Valley and downtown San Francisco. …

BioMed Realty Wins Municipal Approval for 910,000 SF Expansion of Life Sciences Campus in Bay Area

EMERYVILLE, CALIF. — The City of Emeryville in Northern California’s Bay Area has approved BioMed Realty’s proposal to expand its Emeryville Center of Innovation life sciences campus. The 12-acre property is located about four miles north of Oakland and 10 miles east of San Francisco.The expansion will add 910,000 square feet of Class A laboratory and office space to the development. Phase I of the expansion, which BioMed Realty expects to begin in 2022, will span 265,000 square feet. …

Bank OZK Provides $105M Construction Loan for Industrial Project in Southern California

CHERRY VALLEY, CALIF. — Bank OZK has provided a $105 million construction loan for the development of I-10 Logistics Center, a 1.8 million-square-foot industrial project located near the crossing of Interstate 10 and Cherry Valley Boulevard in Southern California.The borrower is a joint venture between locally based developer Shopoff Realty Investments and Artemis Real Estate Partners, an investment management firm based in the Washington, D.C. metro area.Mark Strauss and Rob Quarton …

KKR, Urban Renaissance Group Acquire 770,000 SF Mixed-Use Building in Downtown Seattle

SEATTLE — Seattle-based commercial real estate firm Urban Renaissance Group LLC (URG) and global investment firm KKR have acquired 300 Pine St. in downtown Seattle for approximately $580 million.Taking up a full city block between Third and Fourth avenues, the property is a 770,000-square-foot, eight-story, mixed-use building that features 85,000 square feet of renovated ground-floor retail designed to accommodate retail flagship stores. The property has a new Fourth Avenue entrance to …

Novais Partners, Hanover Co. Plan 4.4 MSF Mixed-Use Project in Metro D.C.

ASHBURN, VA. — A joint venture between Novais Partners and the Hanover Co. has announced plans for Rivana at Innovation Station, a 4.4 million-square-foot mixed-use development located 30 miles outside Washington, D.C., in Ashburn. The 103-acre, transit-oriented project will be developed adjacent to Loudoun County’s extension of the Metro Silver Line, one stop from Washington-Dulles International Airport. Current plans for the project include 2,000 multifamily units; 1.8 million …

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