REBusinessOnline

Parkview Financial Provides $22.5M Loan for Multifamily Conversion Project in Birmingham

BIRMINGHAM, ALA. — Parkview Financial has provided a $22.5 million loan for the redevelopment of a former American Red Cross office building in Birmingham. Built in 1947, the five-story, 140,000-square-foot building has sat vacant since 1999. The borrower, EPT Holdings, plans to use the financing to convert the property into Market Lofts on 3rd, which will comprise 192 affordable housing units and a 4,000-square-foot retail unit with 60 parking spaces. The unit mix will include 95 studios, 94 …

Toll Brothers Breaks Ground on 422-Unit Lindley Apartment Tower in San Diego

SAN DIEGO — Toll Brothers Apartment Living, the rental subsidiary of Toll Brothers (NYSE: TOL), has broken ground on The Lindley, a 37-story multifamily property located in San Diego’s Little Italy neighborhood.Totaling more than 800,000 square feet, the 37-story building will feature 422 apartments and more than 12,000 square feet of ground-floor retail space. The Lindley will offer studio, one- and two-bedroom floor plans, as well as penthouse and townhouse residences.Units will …

McCarthy Breaks Ground on 106-Acre Hospital Campus for Houston Methodist

CYPRESS, TEXAS — St. Louis-based general contractor McCarthy Buildings Cos. has broken ground on a 106-acre hospital campus in the northwestern Houston suburb of Cypress for Houston Methodist. The campus will comprise a 570,700 -square-foot, seven-story hospital and two medical office buildings totaling roughly 320,000 square feet that will be linked by a sky bridge. Page is the project architect, and Walter P. Moore is the structural and civil engineer. Completion is slated for late 2024. …

DHL Signs 516,800 SF Lease at Savannah Gateway Industrial Hub

SAVANNAH, GA. — DHL, a German logistics company, has leased 516,800 square feet of industrial space within Savannah Gateway Industrial Hub (SGIH) for its new “import facility.” The 2,600-acre industrial campus underway near the Port of Savannah is a public-private partnership between Broe Real Estate Group, its transportation affiliate OmniTRAX and the Effingham County Industrial Development Authority. DHL will anchor a new 790,400-square-foot cross-dock facility that is scheduled to come …

LPC, Angelo Gordon Break Ground on 120,600 SF Spec Industrial Project in Metro Boston

MARLBOROUGH, MASS. — A partnership between Dallas-based Lincoln Property Co. (LPC) and New York-based alternative investment firm Angelo Gordon has broken ground on a 120,600-square-foot industrial project in the western Boston suburb of Marlborough. The speculative facility will feature a clear height of 32 feet and 10 loading docks. ARCO National Construction is the general contractor for the project, and LPC will also handle leasing. Completion is slated for the second quarter of

Aegis Living Opens 96-Unit Seniors Housing Community in Seattle

SEATTLE — Aegis Living has opened its 35th community, Aegis Living Greenwood, in the Greenwood neighborhood of Northwest Seattle.The 89,000-square-foot property features 96 units. The five-story building is inspired by the neighborhood and built with Tudor Revival architecture, a classic style most popular in the United States in the 1920s and ‘30s.Ankrom Moisan was the architecture firm and Venture was the general contractor. Aegis has several additional communities in development, …

BMO Financial Group Opens 50-Story Office Tower in Chicago

CHICAGO — BMO Financial Group has opened BMO Tower at 320 S. Canal St. in Chicago’s West Loop Gate neighborhood. The 50-story office tower will serve as BMO’s new U.S. headquarters. More than 3,000 employees will be based at BMO Tower, which rises more than 700 feet. Developed by Riverside Investment & Development, the property’s main floor features a new technology-enabled BMO bank branch. The project, which features a fitness center and 1.5-acre greenspace, was designed to achieve …

Adam America, Stellar Communities to Develop 275-Unit Apartment Community in Broward County

DANIA BEACH, FLA. — An affiliate of Adam America Real Estate and Stellar Communities plan to develop a six-story, 275-unit apartment community in South Florida’s Broward County. The developers recently purchased 7.2 acres of fully entitled land at 4200 SW 54 Court in Dania Beach for the development near the new Seminole Hard Rock Hotel & Casino. Designed by CFE Architects, the unnamed apartment community will feature a 450-space parking garage, nature preserve, parks, resort-style pool, …

Crosland, Harbour Retail to Develop 78-Acre Mixed-Use Wallbrook Project in Rolesville, North Carolina

ROLESVILLE, N.C. — Crosland Southeast and Harbour Retail Partners are co-developing Wallbrook, a 78-acre mixed-use development in the Raleigh suburb of Rolesville. The property is expected to comprise 140 residential units and 265,000 square feet of commercial space, including a 50,000-square-foot Publix grocery store. Phase I will include 80,000 square feet of space, including the Publix. The developers have tapped Charlie Coyne and Matt Larson of CBRE|Raleigh to oversee leasing for the …

Dunleer Purchases 83,893 SF Industrial Park in Salt Lake City for Redevelopment

SALT LAKE CITY — Los Angeles-based Dunleer has acquired a multi-tenant industrial building, located at 2950 W. 500 S in Salt Lake City, for $9.8 million, or $117 per square foot. The transaction marks Dunleer’s first industrial investment in Utah.Situated on 4.8 acres, the 83,893-square-foot facility features 16 units, 20 ground-level doors, 20 restrooms and more than 110 parking spaces. At the time of sale, the property was 95 percent occupied. Dunleer plans to renovate the individual …

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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