Top Stories

Walker & Dunlop Arranges $555.6M Refinancing for 14-Property Student Housing Portfolio

by Abby Cox July 31, 2026

CHICAGO — Walker & Dunlop Inc. has arranged a $555.6 million loan for the refinancing of a 14-property student housing portfolio totaling 4,295 units and 10,454 beds across nine states. Chicago-based real estate investment and property management company The Scion Group was the borrower. The communities are located in Arizona, Alabama, California, Colorado, Florida, Georgia, Louisiana, North Carolina and Texas. Specific property names were not disclosed. Walker & Dunlop’s Brendan Coleman, Will Baker and Colin Coleman secured the floating-rate, interest-only loan through an existing Fannie Mae credit facility. Scion maintains four Fannie Mae credit facilities, all of which were originated by Walker & Dunlop. Scion is the largest owner and operator of student housing communities globally with 190 communities and nearly 118,000 beds across 94 university markets. According to Walker & Dunlop’s 2026 Student Housing Outlook, demand continues to outpace supply across most major university markets. — Abby Cox

July 31, 2026

Data Centers Development Industrial Kentucky Southeast Top Stories

Brookfield, Partner Coalition Plan $100B Data Center Campus in Western Kentucky

by Hayden Spiess July 30, 2026

PADUCAH, KY. — Brookfield (NYSE: BN) has announced plans to develop a $100 billion data center campus in western Kentucky with a partnership coalition. The coalition also includes NextEra Energy Inc. (NYSE: NEE), Big Rivers Electric Power Corp., Jackson Purchase Energy Cooperative and Paducah Power System. The project will redevelop portions of the U.S. Department of Energy (DOE) Paducah Site, which was originally built in the 1950s to produce uranium for nuclear weapons. The facility, which closed in 2013, also went on to produce enriched uranium for nuclear reactors. The AI data center campus will support up to 1.8 gigawatts (GW) of utility capacity and over 1.2 GW of compute capacity at full build-out. The project will be backed by up to 4.6 GW of dedicated generation resources. “This new campus helps secure our nation’s position as a global leader in innovation,” says Chris Wright, U.S. Energy Secretary. “It’s difficult to overestimate the importance of this project.” The DOE first issued a request for offers for redevelopment of the Paducah site in November 2025. Brookfield was selected as the developer and operator for the campus, and NextEra Energy was selected to build and own the energy infrastructure, including up to …

July 30, 2026

Development Retail Texas Top Stories

Trademark, Harrison Street to Break Ground on $135M Anthem Redevelopment in Arlington, Texas

by Kristin Harlow July 29, 2026

ARLINGTON, TEXAS — A joint venture between Trademark Property Co. and Harrison Street Asset Management is scheduled to break ground Monday, Aug. 3 on Anthem, a $135 million redevelopment of the 43-year-old Lincoln Square shopping center in Arlington. InterBank is providing refinancing and construction financing for the 43-acre project. Completion is slated for early 2028. After the demolition of 70,000 square feet of existing space, Anthem will feature 404,000 square feet of retail, food- and- beverage, public spaces and entertainment areas. Trademark will lead a full renovation of the property, including improvements to walkability and connectivity, as well as increased surface parking, new facades, branding and signage. Plans call for a public green space, curated public art program, outdoor seating, bike racks and event programming. Working closely in a public-private partnership with the Arlington Economic Development Corp. and the City of Arlington, Trademark has performed local market research through surveys, planning sessions and community meetings since becoming involved with the project in 2022. Trademark is in final lease negotiations for more than 35,000 square feet of retail and food-and-beverage tenants, many of which will be new to the market. Future plans for Anthem may include the integration of mixed-use components …

July 29, 2026

Data Centers Development Texas Top Stories

Meta, BlackRock to Develop $14B Data Center Campus in El Paso

by John Nelson July 28, 2026

EL PASO, TEXAS — Meta Platforms Inc. (NASDAQ: META), the parent company of Facebook, Instagram and WhatsApp, and BlackRock Inc. (NYSE: BLK) have formed a joint venture to develop and operate a data center campus in El Paso. The companies project that total development costs for the 1-gigawatt (GW) campus will be approximately $14 billion. Meta will provide construction management, administrative and property management services for the campus and will be its initial sole occupant upon completion. The new data center campus “will play an essential role in bringing Meta’s AI technologies to life,” according to the companies. “Building the infrastructure for superintelligence is key to making sure the benefits of this technology are distributed to everyone,” says Mark Zuckerberg, founder and CEO of Meta. “Our partnership with Larry [Fink] and the team at BlackRock allows us to move faster and at greater scale — pairing our deep expertise in designing and operating world-class data centers with one of the world’s leading infrastructure investors.” Construction is currently underway in El Paso with approximately 2,300 workers onsite, according to Meta. The Menlo Park, Calif.-based company estimates that the project will employ 4,000 construction workers at its peak and 300 staffers once fully …

July 28, 2026

Development New York Northeast Office Top Stories

KITA Begins $200M Redevelopment of Midtown Manhattan Office Building

by Taylor Williams July 27, 2026

NEW YORK CITY — The Korea International Trade Association (KITA) has begun the $200 million redevelopment of 460 Park Avenue, a 22-story office building at the thoroughfare’s intersection with East 57th Street in Midtown Manhattan. Upon completion, the building will offer 350,000 square feet of Class A office space. According to the development team, the building, which was originally constructed in the mid-20th century, is “being returned to its original steel structure and rebuilt with state-of-the-art infrastructure.” Within this framework, plans call for upgrades to the lobby, elevators, façade and utility systems. More specifically, the revamped lobby will feature hospitality-driven amenities that are “centered on activating terraces and outdoor space, creating a seamless connection to the outdoors for tenants.” The project will also introduce a formal amenity suite with conference and event spaces, as well as lounge, dining and wellness areas. The project team is also targeting certain designations — LEED Gold, WELL certification and WiredScore Platinum — for its utility systems and infrastructure. KITA has also tapped JLL to lease 460 Park Avenue upon completion of the redevelopment, which is scheduled for mid-2028. “We are reimagining 460 Park Avenue with a focus on quality, performance and experience, delivering a …

July 27, 2026

Development Illinois Midwest Multifamily Top Stories

Related Midwest Tops Off 635-Unit Residential Tower in Downtown Chicago

by Abby Cox July 24, 2026

CHICAGO — Related Midwest has topped off construction for the North Tower of 400 Lake Shore, a 635-unit residential tower located in the Streeterville neighborhood on the Near North Side of downtown Chicago. The 72-story building, which originally broke ground in June 2024, is slated for delivery in spring 2027, with preleasing underway. The South Tower, a second, shorter tower, is planned to follow in a later phase. Designed by the late David Childs of Skidmore, Owings & Merrill, the tower’s 857-foot tiered exterior features staggered outdoor terraces, a reimagined historical bay-window glass curtain wall and an architectural apex, an 83-foot, transparent glass extension that sits directly on top of the 72nd floor. Related Midwest’s in-house contracting company, LR Contracting Co., alongside BOWA Construction, built the first phase of the project, which spans roughly 1.1 million square feet. “Future residents can see just how spectacular this building will be when it opens next spring, taking full advantage of its location where Lake Michigan meets the Chicago River,” says Curt Bailey, president of Related Midwest. “We’re grateful to the hundreds of tradespeople who have worked tirelessly over the past two years to transform this long-dormant site into a bold addition to the lakefront …

July 24, 2026

Data Centers Development Georgia Industrial Southeast Top Stories

OpenAI Plans $20B Data Center Development Near Savannah, Georgia

by Hayden Spiess July 23, 2026

EFFINGHAM COUNTY, GA. — OpenAI, an artificial intelligence (AI) research and deployment company best known for ChatGPT, has announced plans for a new data center campus in Effingham County, approximately 30 miles northwest of Savannah. Dubbed Project Camellia, the data center campus will cost at least $20 billion to develop in order for OpenAI to receive incentives, according to multiple news outlets. Bloomberg reports that the San Francisco-based company plans to spend as much as $30 billion on the project. The site is located within Savannah Gateway Industrial Hub (SGIH), a master-planned industrial park by Broe Real Estate Group and OmniTRAX spanning 2,700 acres. SGIH is served by both CSX and Norfolk Southern rail lines. OpenAI has entered into a 25-year agreement with utilities provider Georgia Power Co., which will supply 3.2 gigawatts of power to the project. According to the two companies, OpenAI will pay all infrastructure and electric-service costs for the data center campus. Additionally, OpenAI has pledged to provide $80 million in community benefits over the life of the project, as well as $71 million in Codex credits for eligible Georgia students. (Codex is OpenAI’s agentic coding tool that assists in building software and technical projects.) OpenAI also reports …

July 23, 2026

Acquisitions Florida New York Northeast Retail Southeast Top Stories

Mavis Tire Agrees to Acquire Pep Boys from Icahn Enterprises for $700M

by Kristin Harlow July 22, 2026

WHITE PLAINS, N.Y. AND SUNNY ISLES BEACH, FLA. — Mavis Tire Express Services Corp. and Icahn Enterprises LP (NASDAQ: IEP) have entered into a definitive agreement under which a subsidiary of Mavis will acquire Pep Boys from Icahn Automotive Group LLC for approximately $700 million in cash. IEP will retain the owned real estate previously transferred to IEP from Pep Boys, as well as the AAMCO Transmissions and Precision Tune Auto Care businesses. Formally named The Pep Boys-Manny, Moe & Jack Holding Corp., Pep Boys is an automotive service company offering tires, repairs, oil changes and maintenance services from nearly 800 retail locations nationwide. Navy veterans Emanuel “Manny” Rosenfeld, Maurice “Moe” Strauss and Graham “Jack” Jackson founded the company in 1921. According to Mavis, the acquisition expands its presence in new and existing markets, particularly across the Western United States where Pep Boys maintains a significant retail footprint. The deal grows Mavis’ network to more than 4,400 service center locations across the United States and Canada. “Pep Boys brings a loyal customer base, deep-rooted market presence across the United States and a distribution network that will meaningfully enhance our supply chain nationwide,” says David Sorbaro, co-CEO of Mavis. “As part …

July 22, 2026

Loans New York Northeast Office Top Stories

Walker & Dunlop Arranges $228.9M Loan for Refinancing of The Textile Building in Midtown Manhattan

by Matthew Auchincloss July 21, 2026

NEW YORK CITY — Walker & Dunlop has arranged a $228.9 million loan for the refinancing of the Textile Building, a 19-story, 707,181-square-foot office building located at 295 Fifth Ave. in the Midtown South submarket of Manhattan. Dustin Stolly, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer, Michael Brown, Christopher de Raet and Jack Krentzman of Walker & Dunlop Capital Markets Institutional Advisory arranged the financing on behalf of the owners, a joint venture between PGIM, Tribeca Investment Group and Meadow Partners. A joint venture between Rialto Capital Management LLC and Hines provided the floating-rate, interest-only bridge loan. The Textile Building is more than 100 years old and was originally the heart of New York City’s textile district. In 2019, the building was purchased by the joint venture of PGIM, Tribeca Investment Group and Meadow Partners, which then invested approximately $350 million to convert it into an office building. The redevelopment included adding new 40,000-square-foot flexible floor plates, renovating the lobby, inserting an additional five elevators while modernizing the existing 10, placing a two-story penthouse on top of the original 17 stories and integrating amenities such as a coffee bar, fitness center and bike parking. The Textile Building reopened in 2023 and has since …

July 21, 2026

Company News Industrial New York Northeast Top Stories

Brookfield, CPP Investments Agree to Acquire LXP Industrial for $5.2B

by Taylor Williams July 20, 2026

NEW YORK CITY AND TORONTO — A partnership between Brookfield Asset Management (NYSE: BAM) and the Canadian Pension Plan (CPP) Investment Board has agreed to acquire LXP Industrial Trust (NYSE: LXP) in an all-cash transaction valued at $5.2 billion. The deal is expected to close in the fourth quarter. The price tag includes LXP’s net debt and preferred equity. In addition, the terms of the deal call for LXP shareholders to receive $61.20 per share in cash, which represents a premium of 12.3 percent over the REIT’s 30-day volume weighted average share price (VWAP) and a 19.8 percent premium over the company’s 90-day VWAP. Both figures are based on time frames that ended Friday, July 17. LXP has agreed to suspend payment of common share dividends until the earlier of the closing of the transaction or the termination of the definitive agreement. The agreement also includes a 40-day “go-shop” period that expires on August 28 at 11:59 p.m. EST, during which time LXP and its advisors may actively solicit and consider alternative acquisition proposals and engage in discussions with third parties. “LXP has assembled a high-quality industrial portfolio with modern logistics assets in attractive markets,” said Lowell Baron, CEO of …

July 20, 2026

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