development1

JLL Arranges $105M in Predevelopment Financing for Industrial Project in The Bronx

by Taylor Williams September 9, 2020

NEW YORK CITY — JLL has arranged $105 million in predevelopment financing for Bronx Logistics Center, a 1.2 million-square-foot last-mile distribution center that will be situated on a 14.2-acre site at 980 E. 149th St. Building features will include 1,400 parking spaces, 28-foot clear heights and proximity to Interstate 278. Christopher Peck, Peter Rotchford and Kristin Knapp of JLL arranged the debt through JPMorgan on behalf of the borrower, Turnbridge Equities. In addition, Andrew Scandalios, Tyler Peck and Thomas Pryor of JLL secured Dune Real Estate Partners as a joint venture equity partner. The development team expects to break ground some time in early 2021.

September 9, 2020

Development Georgia Industrial Southeast

Seefried Delivers Four-Story Distribution Center for Amazon in Metro Atlanta

by Alex Tostado September 9, 2020

STONE MOUNTAIN, GA. — Atlanta-based Seefried Industrial Properties has delivered a 640,000-square-foot industrial facility in Stone Mountain. Developed on a build-to-suit basis for Amazon, the four-story distribution center stands 70 feet tall and features Amazon Robotics technology. The property is situated at 2255 W. Park Place Blvd., 19 miles northeast of downtown Atlanta. The Seattle-based e-commerce giant expects to house 1,000 employees at the site. The Conlan Co. was the general contractor, Eberly & Associates was the civil engineer and Macgregor Associates was the architect. Seefried has now built more than 35 industrial facilities for Amazon, including Georgia facilities in Macon and near Augusta.

September 9, 2020

Development Multifamily Seniors Housing Texas

KWA Construction Tops Out Phase II of Senior Living Project in Fort Worth

by Taylor Williams September 9, 2020

FORT WORTH, TEXAS — Locally based general contractor KWA Construction has topped out Phase II of Columbia Renaissance Square in Fort Worth. The latest phase will add 123 seniors housing units to the local supply. Designed by JHP Architecture and developed by Columbia Residential, the property will feature a 95,015-square-foot building with units that are reserved for renters aged 62 and older. Amenities will include a catering kitchen, computer center with Wi-Fi, fitness center, central laundry facility and a theater for movie screenings. Completion of Phase II is slated for December.

September 9, 2020

Development Multifamily Seniors Housing Texas

Gardner Capital, City of Fate to Develop 185-Unit Seniors Housing Community

by Taylor Williams September 9, 2020

FATE, TEXAS — Private equity firm Gardner Capital has partnered with the City of Fate, located northeast of Dallas, to develop Gala at Fate, a 185-unit affordable seniors housing community. The city will lease the land to Gardner Capital, with plans for long-term ownership by the public-private partnership. CREA and Citibank are additional financial partners for the project, with Citibank providing both construction and permanent financing. Treymore Construction is the general contractor for Gala at Fate, which is expected to be complete in January 2022.

September 9, 2020

Arizona Development Multifamily Western

HTG Breaks Ground on $71M Aviva Goodyear Multifamily Community Near Phoenix

by Amy Works September 9, 2020

GOODYEAR, ARIZ. — Housing Trust Group (HTG) has closed on financing to begin construction of Aviva – Goodyear, an apartment development in Goodyear. The property will be HTG’s second Aviva multifamily community that embraces eco-friendly, luxury living with an array of wellness-oriented amenities. With the first apartments slated for delivery in September 2021, the $71 million Aviva – Goodyear will feature 288 luxury apartment residences in a mix of one-, two- and three-bedroom layouts with open floor plans; kitchens featuring quartz and granite countertops and stainless steel appliances; nine-foot ceilings with vaulted ceilings on upper floors; walk-in closets; wide-plank flooring; and private patios with storage. Located at 4175 N. Falcon Drive, the gated community will offer two swimming pools with spas surrounded by cabana beds, chaise lounge chairs, fire pits and outdoor games. A 10,000-square-foot clubhouse will offer a media and game room, billiards table and co-working spaces with private conference rooms. Also, Aviva – Goodyear will feature a health and wellness center including smart cardio machines, free weights, boxing and a yoga/spin studio with a 24/7 virtual trainer, a playground with covered seating areas, basketball court and a dog park with covered seating and a dog agility course. Slated …

September 9, 2020

Development Multifamily Seniors Housing Texas

Greystar Underway on 180-Unit Active Adult Multifamily Community in Fort Worth

by Taylor Williams September 8, 2020

FORT WORTH, TEXAS — Greystar is underway on development of Album Keller Ranch, a 180-unit active adult apartment community that will be located at 5640 Keller Ranch Road in Fort Worth. The property will offer one- and two-bedroom residences with granite countertops, stainless steel appliances, tile backsplashes, walk-in closets and private balconies and pet yards in select units. Amenities will include an outdoor space with a lounge, kitchen, pool, dog park and walking paths, as well as an indoor fitness center, TV lounge, game room and a media room. Charleston, S.C.-based Greystar expects to open the community in spring 2021.

September 8, 2020

Development Florida Multifamily Southeast

Estate Cos., Merrimac to Construct 340-Unit Apartment Complex in South Florida

by Alex Tostado September 8, 2020

DANIA BEACH, FLA. — The Estate Cos. and Merrimac Ventures will develop Soleste Cityline, a planned 340-unit apartment complex that will also feature 12,800 square feet of retail space in Dania Beach. The Broward County asset will be situated at 4 N. Federal Highway, 26 miles north of downtown Miami. The property will offer studio to three-bedroom units ranging from 600 to 1,200 square feet. Communal amenities will include a pool, pool deck, fitness center, grilling area, clubroom and private event spaces. The eight-story building will also feature 545 parking spaces. Merrimac will retain the retail space while Estate Cos. will manage the multifamily portion of the property. Merrimac sold the 2.5-acre plot to 4 North Federal Holdings LLC, an affiliate of Estate Cos. and Merrimac, for $8 million. Synovus Financial Corp. provided the partners with $4.7 million in acquisition financing. The developers expect to break ground in the fourth quarter of this year. The design team and timeline for completion were not disclosed.

September 8, 2020

Development Michigan Midwest Multifamily

Watermark Residential to Develop 320-Unit Multifamily Community in Grand Rapids

by Kristin Harlow September 8, 2020

GRAND RAPIDS, MICH. — Watermark Residential, a wholly owned affiliate of Thompson Thrift, has acquired 24 acres in Grand Rapids with plans to develop The Grove by Watermark, a 320-unit luxury multifamily community. This is Watermark’s first community in Michigan. Completion is slated for August 2022. Floor plans will range from one- to three-bedroom units and average 1,200 square feet. Amenities will include a clubhouse, fitness center, pool and dog park.

September 8, 2020

Development Michigan Midwest Multifamily

Havenpark Completes Improvements at Michigan Manufactured Housing Community

by Kristin Harlow September 8, 2020

FENTON, MICH. — Havenpark Communities has completed improvements over the past two years at North Bay Harbor Club in Fenton, about 60 miles northwest of Detroit. A ribbon-cutting ceremony celebrating the improvements will take place Tuesday, Sept. 22. The renovations include upgraded community docks, improved landscaping, new signage and a grill and picnic area. Havenpark has invested more than $350,000 in upgrades and improvements at the manufactured housing community.

September 8, 2020

Development Industrial Utah Western

Sansone Group, Argos Capital to Develop 404,800 SF Industrial Project Near Salt Lake City

by Amy Works September 8, 2020

WEST VALLEY CITY, UTAH — Sansone Group, in partnership with Argos Capital Partners, has acquired a 24.8-acre land parcel located in West Valley City for an undisclosed price. The partnership plans to develop a two-building, rear-load, Class A industrial property on the site. The development will offer a total of 404,800 square feet. This the first partnership between Sansone and Argos Capital Partners, a private investment management firm focused on serving ultra-affluent families.

September 8, 2020

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