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Net lease news – page 248
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JLL, HJ Sims Secure $252.1M in Financing for Planned 214-Unit Seniors Housing Project in Huntington Beach, CaliforniaHUNTINGTON BEACH, CALIF. — JLL and HJ Sims have arranged $252.1 million in tax-exempt and taxable bond financing for the development of The Marisol, a seniors housing community in Huntington Beach.
Harbor Associates, Farallon Capital Acquire 280,000 SF Yorba Linda Commerce Center in CaliforniaYORBA LINDA, CALIF. — A joint venture between Harbor Associates and Farallon Capital Management has purchased Yorba Linda Commerce Center, a small-bay industrial campus in Yorba Linda, in an off-market transaction valued at $81 million.
Seachange Partners Receives $15.6M in Construction Financing for Two Affordable Housing Projects in Los AngelesLOS ANGELES — Seachange Partners has received $15.6 million in nonrecourse construction financing for two affordable multifamily developments in Los Angeles.
CBRE Brokers $6.2M Sale of Harbor Central Retail Center in West SacramentoWEST SACRAMENTO, CALIF. — CBRE has arranged the sale of Harbor Central, a neighborhood retail center in West Sacramento. A subsidiary of CJ Park & Associates acquired the asset from Harbor Corners LLC for $6.2 million.
JLL Arranges $141.8M Refinancing for Wolf Point West Luxury Apartment Tower in ChicagoCHICAGO — JLL Capital Markets has arranged a $141.8 million loan for the refinancing of Wolf Point West, a luxury multifamily property in Chicago’s River North neighborhood.
Bradford Allen Opens 301-Unit Arbor House Apartments in Arlington Heights, IllinoisARLINGTON HEIGHTS, ILL. — Bradford Allen has opened Arbor House, a luxury apartment community rising eight stories with 301 units in Arlington Heights. Arbor House offers studio, one-, two- and three-bedroom units.
Joseph Nicholas Construction Breaks Ground on Cadillac Dealership in ChicagoCHICAGO — Joseph Nicholas Construction, in partnership with Jack Carter Auto Group, has broken ground on Carter Cadillac of Chicago, a new dealership at 1400 W. North Ave., part of the former Lincoln Yards site.
Representative imageThe Community Builders Completes 64-Unit Affordable Housing Development in ClevelandCLEVELAND — The Community Builders (TCB) has completed Woodhill Station East, the third phase of the Buckeye-Woodhill Choice Transformation in Cleveland.
Cushman & Wakefield Arranges Construction Loan for 198-Unit Multifamily Project in Belmar, New JerseyBELMAR, N.J. — Cushman & Wakefield has arranged an undisclosed amount of construction financing for Mara by Vermella, a 198-unit multifamily project in Belmar, located along the Jersey Shore.
Finmarc Sells Capital Marketplace Retail Center in Raleigh for $80.6MRALEIGH, N.C. — Finmarc Management Inc. has sold Capital Marketplace, a 383,000-square-foot power shopping center located on 53 acres along U.S. Route 1 in Raleigh.
Woodfield Tops Out 325-Unit Apartment Community in AtlantaATLANTA — Woodfield Development has topped out Woodrow House, a 325-unit apartment community located at 840 Woodrow St. SW in Atlanta. The property sits along the Westside Trail of the Atlanta Beltline, a 22-mile urban trail loop in Atlanta.
My New $100 Mortgage Company — Just in Time for NY’s Tax on $1M All-Cash Home BuysNew York lawmakers are reportedly considering a new 1 percent tax on all-cash home purchases over $1 million. The proposal is designed to raise revenue and help close New York City’s budget gap.
Representative imageMultifamily Deal Diligence Platform Rely Raises $4.5M in Seed RoundProptech startup Rely announced Tuesday that it has raised $4.5 million in seed funding to scale its artificial intelligence-native platform for multifamily transaction diligence. 2048 Ventures led the round with Range Ventures and Better Tomorrow Ventures participating.
New York City’s Higher-End Retail Deserts, and How to Fill ThemWalking through the area near Brooklyn’s Windsor Terrace/Kensington border, one is confronted by blocks filled with high-rise residential buildings, many built before World War II, some constructed just after.
Prosperity Partners Signs Full-Floor Lease at 575 Madison Ave.CBRE arranged a 24,426-square-foot office lease at 575 Madison Ave. in Manhattan’s Plaza District.
Harbor Associates, Farallon Acquire Yorba Linda Industrial Campus Off-MarketHarbor Associates, LLC, in a joint venture with Farallon Capital Management, has acquired the Yorba Linda Commerce Center, a 280,000-square-foot, small bay, multi-tenant industrial campus in an off-market transaction valued at $81 million. Located at 3910 Prospect Ave.
Haussmann Development Closes on Construction Loan for Manhattanville Mixed-IncomeHaussmann Development announced the closing of a $40,750,000 construction loan with Affinius Capital LLC, in partnership with Axonic Capital LLC, to finance the ground-up development of an 84-unit multifamily residential building at 16–20 Convent Ave. in Northern Manhattan.
Upland Apartments’ Original Developer Divests for $48MInstitutional Property Advisors (IPA), a division of Marcus & Millichap dedicated to serving the company’s institutional clients, closed the sale of Upland Village Green, a multifamily asset in Upland.
Naftali and Access Real Estate Close on $374M Refi for Phase I of Williamsburg WharfNaftali Group and Access Real Estate have closed on a $374.35-million refinancing for Phase I of Williamsburg Wharf, Naftali’s 3.75-acre master-planned development along Williamsburg’s East River shoreline. The refinancing was provided by Barings.
Vermont Legislature Sends C-PACE Bill to Governor for SignatureThe Commercial Property Assessed Clean Energy (C-PACE) program is on the verge of becoming law in Vermont. Sponsored by Sen.