Original Southeast commercial real estate news & events for Atlanta, Carolinas, Memphis, Miami, Nashville, Orlando and Washington D.C. metro area; plus expert insights, commentary and analysis into secondary and tertiary regional and local markets.
Team officials said the ballpark is projected to cost $809 million with additional infrastructure costs of $83 million. The new ballpark they said could be complete in time for the first pitch on Opening Day 2023.
The 337,892-square-foot property consists of 16 three-story buildings. Waypoint Residential recently upgraded all unit interiors, which resulted in a notable rent increase and therefore now presents a strong value-add opportunity for the new ownership, according to Cushman & Wakefield.
The transaction in Huntersville, which closed on July 5, is the largest financing deal for Trez Forman in North Carolina this year. So far in 2018, Trez Forman has lent approximately $98 million in construction and acquisition financing for North Carolina residential projects.
The portfolio Sweden-based Hemfosa will acquire includes office, warehouse and logistic assets and totals approximately 460,000 square meters or nearly 5 million square feet.
Meanwhile, the vacancy rate in the District rose to 14% in Q2 -- an increase of 170 basis points (bps) year over year and the city's highest vacancy rate since 2014.