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Net lease news – page 308
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PCCP Provides $92.5M Construction Loan for Multifamily Development in OrlandoORLANDO, FLA. — PCCP LLC has provided a $92.5 million construction loan for Emi on 50, a 336-unit apartment development located at 1840 E. Colonial Drive in Orlando’s Mills 50 neighborhood. The borrower is Terian Development.
Representative imageDeveloper Files Plans to Build 34-Unit Multifamily Property in Kingsbridge HeightsA local developer has filed plans for a new six-story, 34-unit residential building at 3498 Fort Independence Street in the Kingsbridge Heights neighborhood of the Bronx.
Representative imageCBRE Brokers Sale of 96,946 SF Shopping Center in Casselberry, FloridaCASSELBERRY, FLA. — CBRE has brokered the sale of Casselberry Square, a 96,946-square-foot shopping center located at the intersection of State Road 436 and Red Bug Lake Road in Casselberry, a suburb of Orlando.
Carmichael Capital Acquires 22,802 SF Adaptive Reuse Retail Property in NashvilleNASHVILLE, TENN. — Carmichael Capital LLC, a locally based real estate investment firm founded by Taylor Camp, has acquired The Mill, a 22,802-square-foot adaptive reuse retail property located at 515 Merritt Ave. in Nashville’s Wedgewood-Houston neighborhood.
Pardue Sells 428-Unit Multifamily Portfolio in Greenville, TexasGREENVILLE, TEXAS — Pardue Cos., a Texas-based multifamily investment firm, has sold a portfolio of three multifamily properties totaling 428 units in Greenville, about 50 miles northeast of Dallas. The Ridge Apartments is a 112-unit complex that was built in 1985.
Presidium Acquires 186-Unit Apartment Complex in Houston’s Heights DistrictHOUSTON — Texas-based investment firm Presidium has acquired Whitney at The Heights, a 186-unit apartment complex located just outside of downtown Houston.
Concord Wilshire Secures Land for Palm Beach DevelopmentConcord Wilshire Capital acquired a 43-acre development site located at the intersection of SR-7 and Southern Boulevard in Royal Palm Beach, Palm Beach County, Florida (photo), formerly known as Tuttle Royale.
Representative imageZoocade Signs 32,900 SF Retail Lease in North AustinAUSTIN, TEXAS — Zoocade has signed a 32,9000-square-foot retail lease in North Austin.
Legacy Development Partners Buys 30-Acre Site for Legacy at Jackson Landing Retail Project Near Colorado SpringsMONUMENT, COLO. — Legacy Development Partners has acquired a 30-acre site at the northeast quadrant of Interstate 25 and Baptist Road in Monument, approximately 20 miles north of Colorado Springs, for the development of Legacy at Jackson Landing.
Dwight Capital Provides $23M HUD-Insured Loan for Refinancing of California Multifamily PropertyHANFORD, CALIF. — Dwight Capital has closed a $23 million HUD 223(f) refinance loan for Berkshire Crossing, a multifamily community in Hanford.
Great Expectations SPC Acquires 102-Unit Multifamily Development Site in Puyallup, WashingtonPUYALLUP, WASH. — Great Expectations SPC has purchased Addison Grove, a multifamily development site at 17753 78th Ave. East in Puyallup. Terms of the transaction were not disclosed.
Representative imageKisco Senior Living Plans New Community in Las VegasLAS VEGAS — Kisco Senior Living has announced plans to develop a new seniors housing property in Summerlin, a master-planned community located in Las Vegas. Upon completion, the property will feature independent living, assisted living and memory care units.
Representative imageDMT Provides $67.5M Bridge Loan for Refinancing of Upstate New York Multifamily PropertySARATOGA SPRINGS, N.Y. — Dwight Mortgage Trust (DMT), the affiliate REIT of New York City-based Dwight Capital, has provided a $67.5 million bridge loan for the refinancing of Elements at Saratoga Lake, a 260-unit multifamily property in upstate New York.
Marquette Cos. Acquires 236-Unit Apartment Community in Lake Bluff, IllinoisLAKE BLUFF, ILL. — Marquette Cos. has acquired Forest Pointe, a 236-unit apartment community in Lake Bluff within Chicago’s North Shore. Marquette Management will serve as property manager for the community at 29533 N. Waukegan Road.
Representative imageCore Industrial Realty Arranges Sale of 120,000 SF Industrial Building in Metro ChicagoLOCKPORT, ILL. — Core Industrial Realty has arranged the sale of a 120,000-square-foot industrial building in Lockport. The single-tenant building is fully leased to a company in the specialty plastics industry.
BREAKING NEWS: Choice Properties, KingSett to Acquire First Capital REIT in $9.4B DealKingSett and Choice Properties will acquire First Capital in a unit and cash transaction valued at approximately $9.4 billion, including the assumption of certain debt, the three companies announced Thursday.
Populous Expands, Extends Tenancy at Starrett-Lehigh BuildingPopulous, a global architecture and design firm known for major sports and entertainment venues, has expanded at RXR’s Starrett-Lehigh Building while extending its current lease, bringing its total footprint to approximately 16,500 square feet on the building’s 14th floor.
Apollo Global Management Platform Company Inks 50K-SF Lease at 590 Madison AvenueA platform company within the Apollo Global Management umbrella has inked a 10-year, 50,000-square-foot office lease across two full floors at 590 Madison Avenue, Commercial Observer has learned.
IPA Closes Sale of Student Housing Adjacent to UCLAInstitutional Property Advisors (IPA), a division of Marcus & Millichap, CLOSED the sale of Axiom Westwood, a four-building, 153-unit student housing portfolio adjacent to the University of California, Los Angeles (UCLA) in the city’s Westwood neighborhood.
Abacus Capital Scores $111M Refi on Danbury ApartmentsNewmark arranged a $111.41-million loan on behalf of Abacus Capital Group to refinance Abbey Lane Apartments, a 470-unit Class A multifamily property located in Danbury, CT.