Kimco Realty purchased The Markets at Town Center, a 254,000-square-foot retail center in Jacksonville, Fla., for $108 million. Commercial Edge reports Big V Property Group sold the asset. The property most recently traded in 2021, when Hines Interests sold it for $93 million.

This is the REIT’s first purchase under its Structured Investment Program. Initially, the company had extended $15 million in mezzanine financing for the asset, which was fully repaid following the latest transaction.

Located at 4868 Town Center Parkway the open-air shopping center came online in 2008 on 41 acres and was 97 percent leased at the time of the sale. Encompassing nine buildings, it is anchored by a Sprouts Farmers Market and shadow-anchored by a Costco Wholesale. The Markets at Town Center also features a mix of regional and national retailers such as Ulta Beauty, CVS Pharmacy, Five Below, REI, J.Crew, Ballard Designs, Sugar Factory, Nordstrom Rack, DXL Big & Tall, Gen Korean BBQ, Panda Express and Chipotle, among others.

Equity Residential paid $108 million for a 425-unit Sandy Springs apartment complex. The multifamily community, The Bishop, was sold by a Blackstone affiliate. This transaction follows Equity Residential’s paying close to $1 billion for an apartment portfolio that included four projects from Atlanta.

The Atlanta Business Chronicle reported that Equity Residential is focused on buying newly built properties in expansion markets, including Atlanta, Austin, Dallas and Denver. At the end of last year, Equity Residential owned seven properties in Atlanta totaling about 2,100 units.

In July, Equity Residential bought a 319-unit apartment project in Old Fourth Ward for $126 million, the largest multifamily transaction in Atlanta this year. 

Rangewater developed The Bishop. The apartment complex opened in 2019.

Rents at The Bishop start at almost $1,450 for a studio, about $1,500 for a one-bedroom and $1,900 for a two-bedroom.

JLL Capital Markets arranged a $108 million refinancing with New York Life Real Estate Investors for a 13-property, self-storage portfolio located throughout the Dallas-Fort Worth Metroplex. On behalf of the borrower, a joint venture between Hines and Trez Capital, JLL Capital Markets arranged the five-year, fixed-rate loan through New York Life Real Estate Investors, who was able to provide an early rate lock, interest-only payments, and prepayment flexibility early in the loan term. 

The JLL Capital Markets Debt Advisory team representing Hines included Director John Bauman and Analyst Jordan Buck. 

The list of locations for the 13 self-storage properties with the Hines-Trez Capital joint venture’s portfolio includes:

• 1251 W. Exchange Parkway, Allen
• 700 Debbie Lane, Arlington
• 2130 W Pleasant Ridge Road, Arlington
• 2444 Luna Road, Carrollton
• 4321 Creek Valley Blvd., Carrollton
• 4201 Paige Road, The Colony
• 4205 Gannon Lane, Dallas
• 1410 N Duncanville Rd., Duncanville
• 1460 S Interstate 35E, Lancaster
• 3645 N Houston School Road, Lancaster
• 525 N Ave., Plano
• 6404 Hwy. 78, Sachse
• 570 Country Club Road, Wylie