development1

Miller-Valentine Group Breaks Ground on Apartment Community in Lexington

by John Nelson September 7, 2016

LEXINGTON, KY. — National developer Miller-Valentine Group has begun construction on WaterStone at Hamburg, a 264-unit apartment community in Lexington. Located near the intersection of Man O’ War and Polo Club boulevards, the upscale apartment community will be situated adjacent to Hamburg Place, the largest shopping and dining area in central Kentucky spanning more than 2 million square feet of retail space. The first units are expected to deliver during the first quarter of 2017. Rents start at $990 per month for a one-bedroom apartment, $1,175 for a two-bedroom apartment and $1,365 for a three-bedroom apartment. Units at WaterStone at Hamburg will feature wood-plank flooring, private balconies and patios, laundry rooms, under mount sinks, dark wood cabinets, stainless steel appliances, quartz countertops and freestanding kitchen islands. Community amenities will include a heated saltwater pool, colonnade and porch lounge areas and an entertainment area including a bar, TV, grills, fire pit and two courtyards with additional grilling stations. A 5,500-square-foot clubhouse will feature a large reception room with a fireplace, coffee bar, TV lounge/media room, billiards room, kitchen area with two large islands for entertaining and a fitness center including a private yoga room. The community will also feature a private …

September 7, 2016

Florida Hospitality Loans Southeast

Meridian Capital Arranges $56.1M Construction Loan for Dual-Branded Hotel in Downtown Fort Lauderdale

by John Nelson September 7, 2016

FORT LAUDERDALE, FLA. — Meridian Capital Group has arranged $56.1 million in construction financing for the development of a new dual-branded hotel located at 299 N. Federal Highway in downtown Fort Lauderdale. The property is slated to contain both a 209-room Tribute Portfolio hotel, named The Dalmar, and a 114-room Element by Westin hotel, both brands of Starwood Hotels and Resorts Worldwide Inc. The 23-story property will feature a rooftop lounge, sky lobby, infinity pool, gym, landscaped deck with a garden relaxation area, approximately 24,000 square feet of meeting space, coffee bar, restaurant, roughly 4,000 square feet of retail space on Northeast 3rd Street, as well as a 212-space parking garage. Ronnie Levine and Aggelos Sklavenitis of Meridian Capital’s New York City headquarters arranged the four-year construction loan with full-term interest-only payments through Bank of the Ozarks on behalf of the borrowers, Wurzak Hotel Group and DoveHill.

September 7, 2016

Hospitality Texas

DoubleTree by Hilton Arlington DFW South Opens Following $10M Renovation

by Haisten Willis September 7, 2016

ARLINGTON, TEXAS — Hilton Worldwide has opened the DoubleTree by Hilton Arlington DFW South following a $10 million renovation. Located less than five miles from Six Flags Over Texas, AT&T Stadium and Globe Life Park, the 237-room, five-story hotel features more than 6,000 square feet of meeting space, an outdoor swimming pool, fitness center, business center and a round-trip shuttle to Dallas/Fort Worth International Airport. Owned by Admiral Hotel Group LLC and managed by Hotel Equities, the former Admiral Hotel features complimentary Wi-Fi, a 40-inch TV, mini-refrigerator, coffee maker and workspace. Many rooms also provide a pool view, patio and/or balcony.

September 7, 2016

New Jersey Northeast Retail

Wolfson Group to Break Ground on 249,943 SF Shopping Center in New Jersey

by Amy Works September 6, 2016

EGG HARBOR TOWNSHIP, N.J. — Wolfson Group Inc. is breaking ground for the development of Oak Tree Plaza, a shopping center in Egg Harbor Township, on September 7. Located at the intersection of Black Horse Pike, Fire Road and Old Egg Harbor Road, the 249,943-square-foot center will be anchored by a 188,463-square-foot Walmart Supercenter. The plaza is slated to open in summer 2017.

September 6, 2016

Arizona Multifamily Student Housing Western

Core Spaces Completes Student Housing Development Near the University of Arizona

by Nellie Day September 6, 2016

TUCSON, ARIZ. — Core Spaces has opened Tucson II, a 104-unit student housing community located a few blocks away from the University of Arizona campus in Tucson. Tucson II offers studio, two-, three-, four- and five-bedroom, fully furnished apartments with custom designed furniture, floor-to-ceiling windows and 42-inch flat-screen televisions. Community amenities include a fitness center; spa featuring sauna and tanning beds; rooftop sundeck with pool, oversized hot tub, lounging and gaming areas and private, poolside cabanas; outdoor terrace with fire pits and custom barbecue grill; executive business center with computers and printers; and free, building-wide wi-fi.

September 6, 2016

home2-suites-hilton-dallas-grand-prairie

Hospitality Texas

New Home2 Suites by Hilton Opens in Metro Dallas

by Haisten Willis September 6, 2016

GRAND PRAIRIE, TEXAS — Home2 Suites by Hilton Dallas Grand Prairie is now open. Offering 96 suites, the hotel is the first Hilton Worldwide property in Grand Prairie. Located at 2123 W. I-20, Home2 Suites Dallas Grand Prairie offers access to Six Flags Over Texas, Lone Star Park, local sports venues and Dallas-Fort Worth International Airport. The property is also within walking distance of several dining and shopping options. Owned by Orion Lodging LLC and managed by Kriya Hotels, the hotel’s guestrooms feature fully equipped kitchens and modular furniture. The hotel also features complimentary Wi-Fi, a combined laundry and fitness area, outdoor pool and grill area, Home2 MKT store and complimentary breakfast.

September 6, 2016

North Carolina Seniors Housing Southeast

Singh Development Opens $40M Assisted Living Community in Charlotte

by John Nelson September 6, 2016

CHARLOTTE, N.C. — Singh Development has opened Waltonwood Cotswold, a 120,000-square-foot assisted living and memory care community in the Cotswold submarket of Charlotte. The community is Singh’s second Waltonwood-branded community in Charlotte. Development costs were estimated at $40 million. Waltonwood Cotswold is built on more than eight acres and features 91 assisted living apartments and 26 memory care apartments. Leah Nash is executive director of the new community. Singh currently owns and operates nine other Waltonwood communities in Michigan and North Carolina and has several other communities in development and under construction in North Carolina, northern Virginia and the greater Washington, D.C., area.

September 6, 2016

Loans Multifamily Southeast Virginia

Greystone Provides $33.3M Construction Loan for Apartment Community in Virginia Beach

by John Nelson September 6, 2016

VIRGINIA BEACH, VA. — Greystone has provided a $33.3 million construction loan for The Choices at Holland Windsor, a 252-unit apartment community in Virginia Beach. The property will comprise seven buildings located at the intersection of Holland Road and Windsor Oaks. Donny Rosenberg of Greystone arranged the HUD 221(d)(4) loan, the company’s first new construction transaction to utilize HUD’s 2016 MAP Guide standards for a lower mortgage insurance premium (MIP) threshold based on green and energy efficiency multifamily housing requirements. The design also satisfies EarthCraft Multifamily Certification, a green standard recognized by HUD. The Choices will feature Energy Star appliances, interior and exterior LED lighting and construction materials made from recycled products.

September 6, 2016

Colorado Multifamily Western

OZ Architecture to Redesign Assisted Living Community in Colorado

by Nellie Day September 2, 2016

BRUSH, COLO. — Eben Ezer Lutheran Care Center has selected OZ Architecture, a Denver-based firm, to redesign the assisted living and memory care community, located in Brush, approximately 90 miles northeast of Denver. Eben Ezer currently offers 54 assisted living units and 18 memory care units. The improvements will span 54,000 square feet, with the goal of increasing capacity and improving the campus. The community is over 100 years old and features a historic church at the heart of the campus. OZ’s design will build upon the previously developed master plan for the campus. Construction is slated to begin this month.

September 2, 2016

Loans Maryland Multifamily Southeast

Pacific Life Provides $60M Construction Loan to Donohoe for High-Rise in Downtown Bethesda

by John Nelson September 2, 2016

BETHESDA, MD. — Pacific Life Insurance Co. has provided a $60 million construction loan to the Donohoe Cos. Inc. for Phase II of Gallery Bethesda, a luxury high-rise apartment tower located at 4850 Rugby Ave. in downtown Bethesda. The 240,000-square-foot, 17-story tower will feature 219 residential units and 12,425 square feet of retail space, including a café and restaurant opportunities. Amenities will include a rooftop pool and outdoor lounge, outdoor kitchen, indoor sky lounge and a fitness center. Delivery is scheduled for fall 2018. The project is a partnership between The Donohoe Cos. and MPM Investment Co. Donohoe Development Co. is the developer, and Donohoe Construction Co. will serve as the general contractor for the project. Miller and Long Concrete Construction is the concrete contractor. Donohoe Real Estate is the retail broker, and Vantage Management will manage the property upon completion. Gallery Bethesda Phase II is the second of three buildings that Donohoe is developing in Bethesda, collectively known as Woodmont Central. At completion, the entire project will measure more than 580,000 square feet.

September 2, 2016

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