JLL and HJ Sims have arranged $252.1 million in tax-exempt and taxable bond financing for the development of The Marisol, a planned 214-unit seniors housing community in Huntington Beach. HJ Sims acted as lead book-running manager on the senior bonds and JLL Securities served as co-manager and led the process in securing the investor for the subordinate bonds.

The fixed- and floating-rate financing was structured into Series A senior bonds and subordinate Series B and C bonds and was issued through the California Public Finance Authority. The bonds were divided into three tranches: a Series A $165.7-million tranche, a Series B $74.3-million tranche and a Series C $12.1-million tranche. JLL’s Senior Housing Capital Markets team, as real estate advisor, collaborated on the project.

The Marisol is under construction and will be delivered in 2028.  Located at 2120 Main St. in Huntington Beach, the three-story building will offer residents a full amenity package. 

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Greysteel has completed the sale of Mary Hardesty House, a 60-unit senior community located at 218 Mosby Boulevard in Berryville, Virginia.

The property, which was developed using Low-Income Housing Tax Credit (LIHTC) financing, is encumbered by a long-term use agreement for the property to be Affordable Housing. The property was acquired by Community Housing Partners for $5.85 million.

Fletcher Hultman, Justin Mazzamaro, and Henry Mathies of Greysteel’s National Affordable Housing practice group exclusively represented the seller The Wentwood Companies. Mary Hardesty House is ideally located in the northern Virginia town of Berryville, about 65 miles northwest of Washington, D.C.

“We received strong investor interest in this property because it didn’t have any major deferred maintenance or operational challenges,” said Fletcher Hultman, Director of Mid-Atlantic Affordable Housing sales at Greysteel. “This acquisition allows Community Housing Partners to achieve operational scale in this market as they also own a nearby property.”

Walker & Dunlop arranged a $176 million credit facility for seven single-family rental communities in various neighborhoods within the Atlanta, Georgia, MSA.

The Walker & Dunlop New York Capital Markets team, led by Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Michael Ianno, Jackson Irwin, and Christopher de Raet, arranged the financing on behalf of institutional investors advised by J.P. Morgan Asset Management. Brookfield Asset Management’s Real Estate Credit group provided the financing. 

The portfolio consists of 709 homes totaling 1.4 million rentable square feet across seven different communities, all situated within a 30- to 55-mile drive from Atlanta’s central business district. Located in Atlanta’s most sought-after suburbs, including McDonough, Loganville, Cartersville, Hoschton, Dallas, and Jefferson, the portfolio features a mix of 3-, 4-, and 5-bedroom homes with a variety of amenities.

Newmark has arranged the sale of the $16 million Oxford Court Portfolio—a nine-building medical office campus in Langhorne, Pennysylvania—to ESJ Capital Partners.

Newmark Senior Managing Directors Michael Margolis and David Dolan and Associate Angelo Brutico represented seller SkyREM on the transaction. “The Oxford Court portfolio is a highly compelling investment, driven by its strategic location and strong tenant roster. We look forward to seeing the assets continue to thrive under new ownership,” said Margolis.

The 152,310-square-foot portfolio was 72% leased at the time of sale. The portfolio is located adjacent to the Oxford Valley Mall, a Simon property that spans 1.2 million square feet, and Jefferson Bucks County Hospital.

Additionally, the Oxford Court portfolio benefits from being just three miles from the intersection of Interstate 95, Interstate 295 and the Pennsylvania Turnpike. This location provides accessibility to the Pennsylvania suburbs of Greater Philadelphia as well as central New Jersey.

Lee & Associates completed a 20,987-square-foot lease at 849 N Church Court, Elmhurst, Illinois.

The institutionally owned and managed building is in DuPage County, and it’s also located less than one mile from access to I-290 and I-294 via Lake Street and Route 83. The property also offers access to major expressways and features two exterior docks.

Chris Nelson, Principal at Lee & Associates of Illinois, represented the tenant, FlashCo Manufacturing, Inc., the largest independent manufacturer of roof flashings and accessories in North America.

Register Today to “Be in the Room” when Michael Brennan receives Connect CRE’s Lifetime Achievement Award and will participate in the Keynote Interview with Kevin Brennan, also of Brennan Investment Group. Join us at Connect Industrial Midwest 2025 on the afternoon of Wednesday, March 5, at Joe’s Live in Rosemont, IL, for this exclusive presentation! 

PGIM Real Estate provided a $82 million floating rate loan on behalf of MetLife Investment Management and StreetLights Residential to refinance Mira at Midtown Union, a multifamily property located at 1301 Spring St NW in Atlanta.

The 26-story high-rise property has 355 units and 7,608 square feet of ground-floor retail. It includes a pool, resident lounge, sunset deck with fire pits and grills, pet spa/dog wash station, co-working spaces, and a multi-room fitness center. Mira at Midtown has studios with three bedrooms, that cost between $1,660 and $5,080 a month.

The community is part of a master-planned development called Midtown Union. It features a 612,000-square-foot office tower, the MIra, a 14-story, 230-key Kimpton hotel and 32,000 square feet of retail.

Hanley Investment Group Real Estate Advisors arranged the sale of three new-construction, single-tenant properties occupied by a 950-square-foot Dutch Bros Coffee drive-thru format to three different private buyers in 30 days. The properties, which sold for a combined $8.08 million, each have a new 15-year initial absolute triple-net lease term. 

In the first transaction, Hanley EVPs Bill Asher and Jeff Lefko represented the seller and developer, Evergreen Development, in the sale of a new Dutch Bros ground lease at 14521 Ramona Blvd. in Baldwin Park for $3.32 million. The buyer, a San Gabriel Valley-based private investor, was represented by Brian Melkesian, an SVP with Lee & Associates in Ontario.

In the second transaction, Asher and Lefko represented the seller and developer, Evergreen Development, in the sale of a new Dutch Bros ground lease at 23140 Hemlock Ave. in Moreno Valley for $2.61 million. The buyer, a Los Angeles-based private investor, was represented by Ashley Berglund, of Granite Capital Group in Santa Barbara.

In the third transaction, Asher and Lefko represented the seller and developer, a local private investment firm, in the sale of a new Dutch Bros ground lease at 526 Nestles Rd. in Soledad for $2.15 million. The buyer, a private investor based in Northern Los Angeles County, was represented by Maxi Case with Century 21 Doug Anderson in Lancaster.

Greystone has arranged a $33.7 million debt placement to refinance a portfolio of seniors communities in the Pacific Northwest. The transaction was sourced by David Young, a Managing Director at Greystone on behalf of a regional owner of affordable-focused senior housing communities.

There were four properties total across two states. Each community has a specific Medicaid contract with the state serving assisted living and memory care residents. The financing was provided by a debt fund meeting the borrower’s expectations on proceeds.

“With recent Medicaid rate increases and capital expenditures completed on the communities, we were seeking to maximize proceeds for this debt request. We sourced a fitting lender after an extensive process working with banks, credit unions and unlevered, A/B tranched, and back-levered debt funds,” said Young.

CBRE arranged the $12.05-million sale of 6060 Cornerstone Ct. West, a 67,099-square-foot office building in San Diego, to a local private investor, Sorrento Biotech Center LLC, which plans to convert the property for life sciences use. A CBRE team of Matt Carlson, Hunter Rowe, Camille Doan, Alex Hayden, Barbara Perrier, Mike Longo, Matt Pourcho and Anthony DeLorenzo represented the corporate seller. Chris Duncan of Voit Real Estate represented the buyer.

“Significant entrepreneurial capital continues to flow into the market, focusing on mid-market lab investments and repurposing underutilized assets,” said Carlson.

The asset is situated on 2.96 acres at a prominent intersection in Sorrento Mesa, a hub for growth and innovation. Its prime corner location is enhanced by proximity to universities, renowned research institutions and San Diego’s life sciences epicenter.

Built in 1985, the property was owned and occupied by a corporate owner. This transaction marks the first time the asset has been for sale to the broader real estate market.

The Boulder Group, a net-leased investment brokerage firm, completed the sale of a single-tenant P.F. Chang’s located at 2361 Fountain Square Drive in Lombard, Illinois, for $4,782,500.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a Midwest-based real estate investor, and the buyer was a real estate investment trust. “P.F. Chang’s has operated from this location since 2000 and has demonstrated continued commitment,” said Randy Blankstein, President of The Boulder Group.

The 10,682-square-foot building benefits from its position off Butterfield Road, which is a dense retail thoroughfare positioned near Interstate 88. Tenants occupying the area include DICK’S, Target, The Home Depot, Costco, Chick-Fil-A, Starbucks, Ethan Allen, Uncle Julio’s, and many others. Additionally, P.F. Chang’s backs up to The Hyatt Place, Fountain Square Condominiums, and Sunrise Senior Living.

Jimmy Goodman of The Boulder Group added, “Strong-performing restaurants continue to garner interest so long as the asset has solid real estate fundamentals.”