BIRMINGHAM—BBVA Compass and Opportunity Finance Network welcomed its inaugural class of 25 Opportunity Fellows to Birmingham for a three-day training session where they'll explore how to lead the change necessary to give underserved communities equal access to capital. Launched last October, the program is designed to boost the leadership ranks and spur the transformation of Community Development Financial Institutions, or CDFIs, which are critical engines of opportunity in low-income communities. Nationally recognized experts in the field of community development chose the 25 Opportunity Fellows from nearly 100 highly qualified applicants, and together they represent emerging, mid-career and executive-level professionals from CDFIs across the country.

DEAL TRACKER

GOODLETTSVILLE, TN—Walker & Dunlop structured a $20.832 million loan for Centennial Crossing at Lenox Place, a class B, garden-style multifamily community in Goodlettsville. The firm recently placed first in Fannie Mae's Delegated Underwriter-Servicer Green Financing rankings, closing 27 green transactions in the amount of $933.735 million with the enterprise in 2016. The company worked closely with repeat-sponsor M3 Multifamily and used its extensive experience in green lending to ensure the property qualified for an early rate lock and a low interest rate with Fannie Mae's Green Rewards program. W&D senior vice president Tom Toland led the origination team, which arranged the 10-year, fixed-rate loan with five years of interest-only payments and a 30-year amortization schedule. Loan terms also included a debt service coverage ratio of 1.37x and an interest rate of 4.3%.

BIRMINGHAM, AL—GCP secured a 225,496-square-foot lease agreements across with an automotive supplier related to the state's strong auto manufacturing industry. GCP's Shelby Commerce Park has leased 225,496 square feet for parts storage to Mercedes-Benz U.S. International. The 1,500,000-square-foot park in the Shelby County submarket of Birmingham is now at 100% occupancy.

BIRMINGHAM, AL—Two of Mercedes-Benz's vendor companies recently signed leases at GCP's Jefferson Metropolitan Park in the Interstate 20/59 West submarket of Birmingham. Antolin Alabama signed a long-term commitment to move into a 240,240-square-foot facility at GCP-Gazelle II. The facility is anticipated to start operations in late 2017. Neovia Logistics Services, LLC renewed its 160,160-square-foot space at GCP-Gazelle III, also in the Jefferson Metropolitan Park.

HUNTSVILLE, AL—Navistar has renewed its 208,031-square-foot lease at GCP's Airport Distribution Center. The location services distribution operations for Navistar's truck engine manufacturing facility, also located in Huntsville's Jetplex Industrial Park.

BUILDING BLOCKS

BIRMINGHAM—Dunkin' Donuts signed multi-unit store development agreements with two franchise groups to develop a total of 17 Dunkin' Donuts restaurants throughout Alabama and Mississippi over the next several years. Birmingham Donut Holdings plans to develop nine new Dunkin' Donuts restaurants in Birmingham. Led by Amish Patel, this group currently operates 34 restaurants throughout Alabama and Florida. The team's next Birmingham location is planned to open in 2017. Lagunita Franchise Operations plans to develop five new restaurants in Mobile, Alabama and three restaurants in Biloxi, Mississippi. Led by Damon Dunn, this group recently acquired four existing Dunkin' Donuts restaurants in Mobile and one in Biloxi. The team's first new Dunkin' Donuts restaurants under this agreement in both Alabama and Mississippi are planned to open in 2018.

Early this week in the Southeast, Alabama and Tennessee were among the stand out cities for commercial real estate activity.

BY THE NUMBERS

Atlanta has a long list of major projects requiring skilled workers and contractors—this includes the new Braves stadium/mixed-use development; NCR's new Midtown headquarters building and CODA, the new high-performance computing mixed-use development that will be anchored by Georgia Tech University. High pricing will remain the norm until the volume of construction projects drops off. The passage of a major infrastructure bill by Congress would spur even more demand for contractors and equipment while exacerbating the backlog in project delivery. (Source: Savills Studley)

NEWS & NOTABLES

BIRMINGHAM—BBVA Compass and Opportunity Finance Network welcomed its inaugural class of 25 Opportunity Fellows to Birmingham for a three-day training session where they'll explore how to lead the change necessary to give underserved communities equal access to capital. Launched last October, the program is designed to boost the leadership ranks and spur the transformation of Community Development Financial Institutions, or CDFIs, which are critical engines of opportunity in low-income communities. Nationally recognized experts in the field of community development chose the 25 Opportunity Fellows from nearly 100 highly qualified applicants, and together they represent emerging, mid-career and executive-level professionals from CDFIs across the country.

DEAL TRACKER

GOODLETTSVILLE, TN—Walker & Dunlop structured a $20.832 million loan for Centennial Crossing at Lenox Place, a class B, garden-style multifamily community in Goodlettsville. The firm recently placed first in Fannie Mae's Delegated Underwriter-Servicer Green Financing rankings, closing 27 green transactions in the amount of $933.735 million with the enterprise in 2016. The company worked closely with repeat-sponsor M3 Multifamily and used its extensive experience in green lending to ensure the property qualified for an early rate lock and a low interest rate with Fannie Mae's Green Rewards program. W&D senior vice president Tom Toland led the origination team, which arranged the 10-year, fixed-rate loan with five years of interest-only payments and a 30-year amortization schedule. Loan terms also included a debt service coverage ratio of 1.37x and an interest rate of 4.3%.

BIRMINGHAM, AL—GCP secured a 225,496-square-foot lease agreements across with an automotive supplier related to the state's strong auto manufacturing industry. GCP's Shelby Commerce Park has leased 225,496 square feet for parts storage to Mercedes-Benz U.S. International. The 1,500,000-square-foot park in the Shelby County submarket of Birmingham is now at 100% occupancy.

BIRMINGHAM, AL—Two of Mercedes-Benz's vendor companies recently signed leases at GCP's Jefferson Metropolitan Park in the Interstate 20/59 West submarket of Birmingham. Antolin Alabama signed a long-term commitment to move into a 240,240-square-foot facility at GCP-Gazelle II. The facility is anticipated to start operations in late 2017. Neovia Logistics Services, LLC renewed its 160,160-square-foot space at GCP-Gazelle III, also in the Jefferson Metropolitan Park.

HUNTSVILLE, AL—Navistar has renewed its 208,031-square-foot lease at GCP's Airport Distribution Center. The location services distribution operations for Navistar's truck engine manufacturing facility, also located in Huntsville's Jetplex Industrial Park.

BUILDING BLOCKS

BIRMINGHAM—Dunkin' Donuts signed multi-unit store development agreements with two franchise groups to develop a total of 17 Dunkin' Donuts restaurants throughout Alabama and Mississippi over the next several years. Birmingham Donut Holdings plans to develop nine new Dunkin' Donuts restaurants in Birmingham. Led by Amish Patel, this group currently operates 34 restaurants throughout Alabama and Florida. The team's next Birmingham location is planned to open in 2017. Lagunita Franchise Operations plans to develop five new restaurants in Mobile, Alabama and three restaurants in Biloxi, Mississippi. Led by Damon Dunn, this group recently acquired four existing Dunkin' Donuts restaurants in Mobile and one in Biloxi. The team's first new Dunkin' Donuts restaurants under this agreement in both Alabama and Mississippi are planned to open in 2018.