Development

Portman Acquires Land in North Houston, Receives Construction Financing for 714,339 SF Industrial Project

by Taylor Williams August 19, 2026

HOUSTON — Atlanta-based developer Portland has acquired land and received construction financing for Gateway 1960, a 714,339-square-foot industrial project that will be located in North Houston. Neither the acreage of the site nor the amount of the construction loan were disclosed. Gateway 1960 will comprise a 440,323-square-foot cross-dock structure, a 157,723-square-foot front-load building and a 116,293-square-foot rear-load facility, all of which will feature speculative office space, LED lighting and dock-high loading doors. Project partners include general contractor Angler Construction, Powers Brown Architecture as the architect, civil engineer Langan and leasing agent Partners Real Estate. Construction is set to begin before the end of the month and to be complete in the third quarter of 2027.

August 19, 2026

Acquisitions Development Industrial Nevada Western

IndiCap Acquires Site for 70,405 SF Industrial Development in Southwest Las Vegas

by Amy Works August 19, 2026

LAS VEGAS — IndiCap has acquired 3.8 net acres in Southwest Las Vegas for the development of Southwest Bay, a Class A infill industrial project. The 70,405-square-foot property will offer shallow-, small- and mid-bay industrial space with flexible suite configurations. Current plans call for suite configurations beginning at approximately 17,600 square feet, with the ability to accommodate full-building users. Located at the southwest corner of Russell Road and Edmond Street, Southwest Bay will feature concrete tilt-up construction with 28-foot clear heights, ESFR fire sprinklers, dock-high and grade-level loading, electrical capacity and flexible demising options. Site work is slated to begin in April 2027, followed by vertical construction in May 2027. Southwest Bay is scheduled for delivery in February 2028, with preleasing available before completion. The project team includes Lee & Sakahara Architects as architect and structural engineer, Per4mance Engineering as civil engineer and NDL Group as general contractor. Greg Tassi and Donna Alderson of Cushman & Wakefield are handling leasing for the project. First American provided title services for the project.

August 19, 2026

Acquisitions Data Centers Development Industrial North Carolina Southeast

WhiteFiber Agrees to Buy Two Industrial Facilities in North Carolina, Plans Data Center Conversions

by John Nelson August 19, 2026

YADKIN COUNTY, N.C. — WhiteFiber Inc., a data center owner-operator and cloud solutions provider, has agreed to acquire two industrial facilities in Yadkin County, situated near Winston-Salem at the foothills of the Blue Ridge Mountains. WhiteFiber is acquiring the properties via its wholly owned subsidiary Enovum Data Centers Corp. with plans to retrofit both properties into data centers. The agreed purchase price was $60 million for both sites. The two facilities, which will be renamed NC-2 and NC-3, sit approximately 55 miles from NC-1, WhiteFiber’s existing data center campus in Madison, N.C. NC-2 and NC-3 are expected to provide a combined minimum of 60 megawatts (MW) of initial gross utility capacity with the potential to support up to 200 MW of combined utility capacity over time. WhiteFiber expects to close the transaction in the fourth quarter and bring the properties on line in third-quarter 2027.

August 19, 2026

Civic Development Midwest Missouri

St. Louis Lambert International Airport Underway on $114M Maintenance Complex

by Kristin Harlow August 19, 2026

ST. LOUIS — A new $114 million maintenance complex will open at St. Louis Lambert International Airport. The 285,000-square-foot complex will replace the existing 135,000-square-foot facility, which dates to the 1960s and is located in a flood-prone area. Situated on higher ground, the new facility will provide expanded, modernized space to meet the maintenance and sheltering needs of modern airfield equipment. The project will also consolidate critical airfield operations into two facilities, including snow removal, vehicle repair, materials warehousing, landscaping and maintenance functions. These operations are currently spread across nine buildings, some of which are more than 50 years old. Construction began in October 2025 and is expected to be completed in late 2027. KAI is providing mechanical, electrical and plumbing engineering services for the project. Wright Construction Services is the general contractor, Kwame and HR Green Inc. serve as the program manager and Jacobs is the architect and structural engineer. Funding for the project was made possible through a $20 million grant from the Federal Aviation Administration and a $4.6 million grant under the Airport Infrastructure Grants program through the Bipartisan Infrastructure Law.

August 19, 2026

Development Multifamily Texas

JPI to Develop $90M Multifamily Project in Northwest Austin

by Taylor Williams August 18, 2026

AUSTIN, TEXAS — Metro Dallas-based JPI will develop Jefferson Pearson Ranch, a $90 million multifamily project in northwest Austin. The site spans 9.3 acres at the northwest corner of Pearson Market Circle and Spectrum Drive within the 156-acre Pearson Ranch master-planned development. Designed by The Preston Partnership, Jefferson Pearson Ranch will consist of four buildings that will house 25 studios, 211 one-bedroom units, 90 two-bedroom apartments and 16 three-bedroom residences for a total of 342 units. Amenities will include a pool, fitness center, resident lounge, outdoor grilling and dining stations, a dog park and coworking space. Construction is set to begin in the coming days, with completion anticipated in 2028.

August 18, 2026

Development Hospitality Louisiana Southeast

PENN Entertainment to Invest $195M to Relocate Riverboat Casino in New Orleans

by John Nelson August 18, 2026

NEW ORLEANS — PENN Entertainment Inc. plans to invest approximately $195 million to relocate its Boomtown Casino & Hotel New Orleans riverboat casino operations to a new landside property on adjacent land, pending regulatory approval. If approved, the publicly traded gaming company will rebrand the property, which is expected to open in 2029, as Hollywood Casino New Orleans. The investment will include the build-out of roughly 140,000 square feet of new development, approximately 875 slot machines, 45 table games, a retail sportsbook and multiple dining options. The existing riverboat will be vacated upon opening of the new property, and PENN expects to keep the existing hotel open. The investment would represent the fourth landside relocation of a riverboat casino for PENN, which expects to finance the project with cash on hand, allowing for the option to access its balance sheet or other sources of liquidity. PENN currently operates four other casino destinations in Louisiana, including L’Auberge Casino Resort Lake Charles, L’Auberge Casino Hotel Baton Rouge and Margaritaville Resort Casino and Boomtown Casino Hotel in Bossier City.

August 18, 2026

Alabama Development Multifamily Southeast

Thompson Thrift to Develop 300-Unit Apartment Community in Chelsea, Alabama

by John Nelson August 18, 2026

CHELSEA, ALA. — Thompson Thrift plans to develop Rivet, a 300-unit apartment community in Chelsea, a suburb of Birmingham in Shelby County. The Indianapolis-based developer is capitalizing the project with equity from Thompson Thrift 2025 Multifamily Development LP. Situated on nearly 29 acres along the U.S. Highway 280 corridor, Rivet will offer a mix of one-, two- and three-bedroom apartments. Amenities will include a resort-style heated swimming pool, 24-hour fitness center, pickleball court, community grilling areas and fire pit, social hub with billiards and shuffleboard, dog park and pet spa, business center with conference rooms and an Amazon package hub. Thompson Thrift plans to deliver Rivet in late 2027.

August 18, 2026

Development Multifamily New York Northeast

Fetner Properties Completes Renovation of 127-Unit Apartment Complex in The Bronx

by Taylor Williams August 18, 2026

NEW YORK CITY — Locally based owner-operator Fetner Properties has completed the renovation of The Arbor, a 127-unit apartment complex in The Bronx. The Arbor, which was originally constructed in 2006 in the borough’s Riverdale neighborhood, consists of two nine-story buildings that house one-, two-, three- and four-bedroom units. Post-renovation, residences feature stainless steel appliances and in-unit washers and dryers, as well as new kitchen counters, cabinets, backsplashes and fixtures. Fetner also reimagined the building’s lobby and upgraded amenity spaces, which include a fitness center, resident lounge, children’s playroom and a courtyard.

August 18, 2026

Development Loans Multifamily New Jersey Northeast

Drew Capital Arranges $16.2M Construction Loan for Newark Multifamily Project

by Taylor Williams August 18, 2026

NEWARK, N.J. — Drew Capital, a New Jersey-based mortgage banking firm, has arranged a $16.2 million construction loan for Central Pointe, a 77-unit multifamily project that will be located in Newark’s University Heights neighborhood. Designed by INOA Architecture, Central Pointe will have six studios, 29 one-bedroom units and 42 two-bedroom residences, with 16 apartments designated as affordable housing. Amenities will include a fitness center, coworking lounge, communal spaces and a rooftop garden. Trevian Capital provided the loan to the developer, Newark-based Giga Holdings, which expects to complete the project next summer. Akiva Drew led the debt placement effort for Drew Capital

August 18, 2026

Build-to-Rent Development New Mexico Single-Family Rental Western

LaTerra Development, Revitate Open 344-Unit Build-to-Rent Community in Albuquerque

by Amy Works August 18, 2026

ALBUQUERQUE, N.M. —LaTerra Development, in partnership with Revitate, has opened The Charlie ABQ, a 344-unit build-to-rent community in Albuquerque. Situated on 37 acres at the southwest corner of Woodmont Avenue and Paseo del Norte, The Charlie ABQ features 202 townhomes and 142 detached single-family homes. The two-, three- and four-bedroom layouts range in size from 1,260 to 2,130 square feet. Every residence includes an attached two-car garage, private outdoor space and modern finishes. The community includes two large amenity centers with resort-style pools and spas, fitness centers, coworking lounges and outdoor gathering areas.

August 18, 2026

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