NEW YORK CITY — HFF has secured $80 million in construction financing for the ground-up development of a boutique condominium property located at 17 Jane St. in Manhattan’s West Village. Christopher Peck and Scott Aiese of HFF arranged the first mortgage and mezzanine loans for the borrower, Edward J. Minsoff Equities Inc. Designed by London-based David Chipperfield Architects, the property will feature a three-, four- and five-bedroom condominiums. Completion is slated for third quarter 2018.
LAS CRUCES, N.M. — The 91-room Home2 Suites by Hilton has debuted in Las Cruces. The new hotel is located at 1120 N. Telshor Blvd. The property offers all-suite accommodations with fully equipped kitchens and modular furniture. It also features complimentary Internet and communal spaces. Trademark Home2 Suites amenities include Spin2 Cycle, a combined laundry and fitness area, Home2 MKT for grab-and-go items and the Inspired Table, a complimentary daily breakfast that includes more than 400 potential combinations. Home2 Suites is situated near downtown Las Cruces, Las Cruces International Airport, New Mexico State University, Veterans Memorial Park and Dripping Springs Natural Area. The pet-friendly property is owned by Las Cruces Hotel Partners LLC and managed by Kana Hotel Group.
FRANKLIN, TENN. — Cushman & Wakefield has secured a $40 million construction loan for the development of a 328-unit apartment community in Franklin, the seat of Nashville’s Cool Springs district. Mike Ryan, Telly Fathaly and Brian Linnihan of Cushman & Wakefield structured senior debt on behalf of the borrower, Middleburg Real Estate Partners. The Cushman & Wakefield team also sourced joint venture equity with an institutional capital partner for the development. The property will include two split-level buildings comprising 21 studio apartments, 168 one-bedroom units and 139 two-bedroom units. Community amenities will includes a clubhouse, saltwater pool, cabana areas, outdoor kitchens and a four-acre park for residents. Middleburg has begun construction on the unnamed property and expects to wrap up construction in 2018.
CHARLES, MO. — St. Louis-based contractor Wiegmann Associates has completed the installation of the HVAC system at Cedarhurst of St. Charles, a new $17.5 million seniors housing community in the St. Louis metro of St. Charles. The 99,000-square-foot property features 76 assisted living units and 24 memory care units. Vermont-based Dover Development LLC developed the property, and Illinois-based IMPACT Strategies Inc. served as construction manager. The community officially opened June 25. Cedarhurst Living LLC will operate the facility.
ORLANDO, FLA. — Duke Realty has unveiled plans to develop a 170,428-square-foot, build-to-suit warehouse for PODS Enterprises LLC at 7133 Municipal Drive in Orlando. PODS, a residential and commercial mover and portable storage container provider, will consolidate its operations from two other Orlando-area warehouses and expand by approximately 72,000 square feet. Alex Beacham of Cushman & Wakefield represented PODS in the transaction, and Tim Perry of Duke Realty represented the company internally. The new warehouse will be situated on a 12.5-acre site, roughly one mile from Interstate 4.
SUMMERVILLE, S.C. — Wood Partners has broken ground on Alta Brighton Park, a 329-unit multifamily community in Summerville, roughly 25 miles northwest of Charleston. Located within Nexton, a mixed-use community, the Class A apartment property will feature a saltwater swimming pool, fitness center, resident library and business center. The apartment community is slated to begin leasing in summer 2018.
WYOMING, MICH. — Wolverine Building Group has broken ground on a 36,000-square-foot expansion for Craig’s Cruisers in Wyoming, five miles south of Grand Rapids. The family fun center is located at 5730 Clyde Park Ave. The addition will be home to a trampoline park, laser tag arena and an indoor roller coaster. The $2.4 million project is slated for completion in February 2018.
BRIDGETON, N.J. — WinnCompanies has begun an $18.7 million rehabilitation of Bridgeton Villas Apartments in Bridgeton. The project will modernize the community, improve energy efficiency and expand resident services. Constructed in 1966 and 1969, the community features eight buildings housing 28 one-bedroom, 92 two-bedroom and 36 three-bedroom units with an on-site leasing and management office. WinnDevelopment will oversee the first phase of the renovation project, which will improve five buildings totaling 100 units. Interior work will include mechanical system upgrades along with complete kitchen and bathroom overhauls, including the installation of EnergyStar appliances and sustainable plumbing fixtures. Exterior improvements include the beautification of building facades, new entryways, complete roof replacement, landscape work and parking lot repair. Along with the overall rehabilitation, five units will be brought up to ADA compliance and 10 units will be set aside as special needs housing for homeless individuals and families. WinnCompanies will partner with Gateway Community Action Partnership to deliver supportive services for residents occupying the designated units. WinnCompanies acquired Bridgeton Villas in March 2017.
SAN JOSE, CALIF. — InfiniPower Hospitality Group has received $19 million in financing to develop a 261-room hotel in San Jose. The project will include a 147-room Residence Inn and a 114-room Fairfield Inn & Suites by Marriott. The 166,340-square-foot, four-story building will include an outdoor pool and patio area with a fire pit, enhanced fitness center, bar, complimentary breakfast area, guest laundry facilities and a 24/7 sundry shop, as well as 1,200 square feet of meeting space and a business center. The project is located in America Center, a 30-acre mixed use development located along the South Bay Freeway (Highway 237) in northern San Jose. Canyon Partners Real Estate provided the loan.
SLIPPERY ROCK, PA. — Campus First Student Living is developing the second phase of University Village at Slippery Rock in Slippery Rock. Located in close proximity to Slippery Rock University, the second phase will include five buildings totaling 44 units and 152 beds. The unit mix will include two-bed/two-bath, three-bed/three-bath and four-bed/four-bath layouts. All residences will feature stainless steel, high-efficiency appliances, new furniture packages and granite counter tops. Construction is slated to begin by June 2018. The first phase of the property consists of 200 units and 632 beds in two-bed/two-bath and four-bed/four-bath layouts.