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PREIT Obtains $150M Loan to Recapitalize Springfield Town Center in Northern Virginia

2 days ago | rebusinessonline.com | John Nelson

1SPRINGFIELD, VA. — PREIT has closed on a $150 million loan for Springfield Town Center, a mixed-use redevelopment of the former Springfield Mall in Northern Virginia. The property includes more than 1 million square feet of retail space, including a 32,000-square-foot LEGO Discovery Center that opened in 2023.
Topgolf to Open Venue in Panama City Beach, Florida

2 days ago | rebusinessonline.com | John Nelson

1PANAMA CITY, FLA. — Topgolf will open its newest outdoor venue at 15475 Topgolf Way in Panama City Beach tomorrow. The new Topgolf will be the Dallas-based operator’s 10th outdoor location in Florida and its first on the state’s Emerald Coast. The property is situated along Powell Adams Drive near Panama City Beach Parkway and adjacent to Pier Park.
Nuveen Green Capital Closes First C-PACE Loan Ever in North Carolina for Trenton Mill Lofts in Gastonia

2 days ago | rebusinessonline.com | John Nelson

1GASTONIA, N.C. — Nuveen Green Capital has closed a $6.5 million C-PACE loan for Trenton Mill Lofts, a new multifamily development in downtown Gastonia, a suburb 20 miles west of Charlotte. The closing marks the first-ever C-PACE financed transaction in the state of North Carolina. Originally built in 1897, the property formerly operated as the Trenton Cotton Mill before being acquired by the borrower, Lansing Melbourne Group, in 2020.
Marcus & Millichap Brokers $6.8M Sale of Two-Property Retail Center Portfolio in North Carolina, Mississippi

2 days ago | rebusinessonline.com | John Nelson

1SPRING LAKE, N.C. AND JACKSON, MISS. — Marcus & Millichap has arranged the $6.8 million portfolio sale of two retail properties totaling 53,000 square feet in Spring Lake and Jackson. Walmart shadow-anchors both centers. Built in 2004, Spring Lake Town Center totals 29,841 square feet and was 85 percent leased at the time of sale to tenants including Dollar Tree, AT&T, GameStop, Cricket Wireless, Cato, Papa Murphy’s and OneMain Financial.
Walker & Dunlop Arranges $87.3M Refinancing for 2000 Biscayne Apartment Tower in Miami

2 days ago | rebusinessonline.com | John Nelson

1MIAMI — Walker & Dunlop has arranged an $87.3 million loan for the refinancing of 2000 Biscayne, a new 36-story apartment tower in Miami. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Stepniewski, Dustin Stolly, Jordan Casella, Christopher de Raet and Stanley Cayre of Walker & Dunlop’s New York City capital markets team arranged the financing on behalf of the borrower, a joint venture that includes Kushner Cos. and PTM Partners. Corebridge Financial provided the loan.
Mapletree Investments Signs LifeScience Logistics to 625,000 SF Industrial Lease in South Memphis

3 days ago | rebusinessonline.com | John Nelson

1MEMPHIS, TENN. — Mapletree Investments has signed LifeScience Logistics, a healthcare supply chain firm, to a 625,000-square-foot industrial lease in Memphis. The facility is located at 5200 Tradeport Drive within Chickasaw Distribution Center on the city’s south side. Kemp Conrad of Cushman & Wakefield | Commercial Advisors represented the landlord in the lease negotiations, while Brian Monaghan and Bob Robers of Cushman & Wakefield represented the tenant.
Feil Organization to Deliver First Trader Joe’s Grocery Store in New Orleans

3 days ago | rebusinessonline.com | John Nelson

1NEW ORLEANS — The Feil Organization plans to deliver a new Trader Joe’s grocery store at 2501 Tulane Ave. in New Orleans. The new 13,368-square-foot store will be the first location in New Orleans for the Monrovia, Calif.-based specialty grocer. Feil began assembling sites along Tulane Avenue in 2016 and executed the lease with Trader Joe’s in 2023.
Northmarq Secures $141.7M in Financing for Two High-Rise Apartment Towers in Metro D.C.

3 days ago | rebusinessonline.com | John Nelson

2BETHESDA AND SILVER SPRING, MD. — Northmarq has secured $141.7 million in financing for a two-property apartment tower portfolio in Washington, D.C.’s suburban Maryland region. The portfolio includes Solaire 7607 Old Georgetown, a new 22-story, 198-unit tower in Bethesda, and Solaire 1150 Ripley, a 16-story, 295-unit property in downtown Silver Spring that was built in 2012.
Blackfin Purchases Sage Creek Apartments in Augusta, Georgia for $17.3M

3 days ago | rebusinessonline.com | John Nelson

1AUGUSTA, GA. — Blackfin Real Estate Investors LLC, a multifamily investment firm based in Arlington, Va., has purchased Sage Creek Apartments, a 120-unit garden-style community located at 1315 Marks Church Road in Augusta. The seller, an investment group led by JJM Realty Partners LLC, sold the property for $17.3 million. Mike Riley and Ian Shaw of Berkadia represented the seller in the transaction.
Cronheim Hotel Capital Arranges $13.3M Acquisition Loan for Hampton Inn Hotel in Prattville, Alabama

3 days ago | rebusinessonline.com | John Nelson

2PRATTVILLE, ALA. — Cronheim Hotel Capital has arranged a $13.3 million acquisition loan for Hampton Inn & Suites, a hotel located at 2590 Cobbs Ford Road in Prattville, a northern suburb of Montgomery, Ala. The new owner plans to fully renovate the hotel. Cronheim arranged the financing on behalf of the undisclosed borrower through a regional bank. The five-year loan features 18 months of interest-only payments and no prepayment penalty for the full term.