STAFFORD, TEXAS — Affiliates of Lone Star Funds, a London-based global investment firm, have secured a $110 million refinancing loan for two properties in Stafford. The neighboring communities, 1879 at the Grid and Arc at the Grid, were built in 2019 and 2020 respectively and are located within a 192-acre mixed-use redevelopment of the former Texas Instruments campus about 17 miles southwest of Houston called The Grid. Walker & Dunlop’s team led by Dustin Stolly, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Michael Ianno and Edward Leboyer …
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MELBOURNE, FLA. — Capstone Communities has secured financing and begun construction of The Villas at Viera, a 275-unit build-to-rent development in the master-planned Viera community in Brevard County, about 50 miles southeast of Orlando. Capstone Communities is the developer, and CBI Construction is the general contractor. Capstone Properties is overseeing property management. Fifth Dimension Architecture & Interiors is serving as project architect. Villas at Viera is situated on an 18.4-acre parcel and will comprise two four-story apartment buildings, duplexes, carriage houses and cottage-style residences. Amenities will include a clubhouse and …
NASHVILLE, TENN. — Lion Real Estate Group, a multifamily investment firm based in Nashville, has hired Alison Brown as president and chief operating officer. Prior to joining Lion, Brown served as president of Bridge Property Management as well as holding the title deputy chief investment officer for Bridge’s workforce and affordable housing strategy. She also was previously senior vice president of operations at LivCor, a Blackstone portfolio company, where she led a nationwide network of more than 50 property management companies. Earlier in Brown’s career, she spent 13 years at …
AUSTIN, TEXAS — Architect KTGY and locally based developer Riverside have completed and opened The Waylon, a 300-unit, five-story community in North Austin. The interior designer was Vida Design and Nudge Design was the landscape architect. Amenities include a pool, sky lounge and deck, coworking space, a fitness center with a yoga room and a dog run. The property was developed on a former surface parking lot for an exisiting office property. KTGY is headquartered in Irvine, California and operates offices throughout the United States.
SAN JOSE, CALIF. — Kennedy Wilson has partnered with two Japanese investment firms to acquire One South Market, a 312-unit community in downtown San Jose, for $176 million. The investment partners are Tokyo-based real estate company Hulic Co. Ltd. and Fuyo General Lease (USA) Inc., the U.S. subsidiary of Japanese financial services company Fuyo General Lease Co. Ltd. The acquisition marks Beverly Hills, California-based Kennedy Wilson’s fifth joint venture with Hulic and its first with Fuyo. Locally based Lakevision Capital was the seller. Built in 2015, One South Market is …
FARGO, N.D. — The Annex Group has announced plans for Central at the Horizon, a ground-up affordable housing development at 11 12th St. North in Fargo. The 262 one-, two- and three-bedroom units will be reserved for households earning up to 60 percent of area median income. Central at the Horizon will consist of four stories above a one-story parking garage. Amenities will include community, fitness and business centers, a playground and a picnic area. The architect is BVH Architecture. Multiple stakeholders are funding the project. The North Dakota Housing …
CORAL GABLES, FLA. — Empira Group has obtained an $81 million construction loan to develop The Aurelian, a 160-unit luxury project underway at 114 Calabria Ave. in Coral Gables. Pearlmark was the lender, and CBRE’s Charles Crapse and Denny St. Germain arranged the financing. Behar Font is the architect, and Ortega Construction is the general contractor. The one- and two-bedroom apartments will be complemented by a resort-style pool, fitness center with dedicated yoga studio, coworking areas, a lounge, electric vehicle charging station and a pet grooming suite. Completion is slated …
RICHARDSON, TEXAS — Northmarq’s Kevin Leamy has arranged a refinancing loan for The Standard at CityLine, a 403-unit mid-rise at 1125 E. Renner Road in Richardson. Price Realty Corp. was the borrower, and New York Life was the lender. The loan amount was not disclosed. Completed in 2015, The Standard at CityLine features one- and two-bedrooms with a pool with cabana and large-screen TVs, courtyard with fireplaces, grills and valet trash pickup.
INDIANAPOLIS — The Annex Group has broken ground on Central at Old Southside, a 227-unit affordable housing community in Indianapolis. The development team behind the $71 million project includes BVH Architecture, nonprofit partner Impact Housing Indiana, permanent lender Merchants Capital and Bank of America, serving as investor and construction lender. Central at Old Southside is situated on approximately 6 acres and will comprise one-, two- and three-bedroom units reserved for households earning between 50 and 60 percent of the area median income (AMI). Amenities for Central at Old Southside will …
DALLAS — JLL has arranged the sale of the Bishop Arts retail and multifamily portfolio comprising four multifamily properties (539 units) and 40,747 square feet of retail along North Bishop Avenue in Dallas’ Bishop Arts District. JLL’s Trey Morsbach, Bill Miller, Greg Toro, Adam Howells, Clint Coe, Caroline Novak and Erin Lazarus represented the seller and developer, Exxir, a real estate company owned by the Nazerian family, in the transaction. Hines was the buyer. The retail component of the portfolio occupies about an acre at 205, 250, 275 and 308 …