Development

SCALE Lending Provides $460M in Financing for Two-Tower Apartment Project in Downtown Miami

by Kristin Harlow November 5, 2025

MIAMI — SCALE Lending, the debt financing arm of New York City-based Slate Property Group, has provided a $460 million cross-collateralized facility on behalf of the Namdar Group for two adjacent apartment towers under development in downtown Miami. The facility will comprise a $230 million bridge loan for the completion and lease-up of 55 N.E. 2nd Street (Phase I), which contains 680 multifamily units across 358,000 square feet; and a $230 million loan for the ground-up construction of 50 N.E. 3rd Street (Phase II), which comprises 714 apartment units across 395,000 square feet. The two 43-story towers will be connected from the first through eighth floors upon completion. Phase I is slated for completion in the first quarter of 2026. Construction of Phase II commenced in September 2025, with completion estimated for spring 2028. Units range in size from studios to two-bedroom layouts. A connected garage on the second through sixth floors will include 269 parking spaces, and the ground floor will feature 7,100 square feet of retail space. Combined, the buildings will include 62,000 square feet of amenity spaces on the seventh and eighth floors to be shared by tenants of both towers. Both buildings will offer gyms, golf …

November 5, 2025

Development Multifamily Texas

Southeastern Breaks Ground on 330-Unit Multifamily Redevelopment Project in Houston

by Taylor Williams November 4, 2025

HOUSTON — Georgia-based developer Southeastern has broken ground on a 330-unit multifamily redevelopment project in the Montrose neighborhood of Houston. Artis Montrose will convert the site of the former “Disco Kroger” into a seven-story apartment building that will feature one- and two-bedroom units that will range in size from 549 to 1,607 square feet. Amenities will include a pool, leasing office, pet spa, outdoor workspaces, grilling stations, a clubroom, cyber lounge and a Zen garden. DCS Design is the project architect, and Arch-Con Corp. is the general contractor. The first units are expected to be available for occupancy in late 2027.

November 4, 2025

Development Retail Texas

Partners Capital Completes Restoration of Westcliff Shopping Center in Fort Worth

by Taylor Williams November 4, 2025

FORT WORTH, TEXAS — Partners Capital, the investment platform of Partners Real Estate, has completed a partial renovation of Westcliff Shopping Center, a 134,750-square-foot grocery-anchored center in Fort Worth. The project revitalized a 22,000-square-foot portion of the retail center’s facade, restoring its original character while introducing modern updates. Originally built in 1955 on 10 acres, Westcliff Shopping Center is home to tenants such as Albertsons, Ace Hardware, HOTWORX, Dollar General and Café Bella.

November 4, 2025

Development Loans Multifamily New Hampshire Northeast

JLL Arranges $96.8M Construction Loan for Southern New Hampshire Multifamily Project

by Taylor Williams November 4, 2025

PORTSMOUTH, N.H. — JLL has arranged a $96.8 million construction loan for Prescott Post, a 360-unit multifamily project that will be located in the southern New Hampshire city of Portsmouth. The site spans 26 acres, about 10 percent of which will be preserved as green communal space. Prescott Post will feature three- and four-story residential buildings that will house a mix of unit types. Amenities will include multiple clubrooms, coworking spaces, an indoor/outdoor fitness suite with a yoga studio, outdoor kitchens, fire pits and a dog run with a pet washing station. Brett Paulsrud, Andrew Gray and Hugh Doherty of JLL arranged the loan through Truist Bank on behalf of the developers, a partnership between Boston-based Eastern Real Estate and The Kane Co. Completion is slated for late 2027.

November 4, 2025

Development Massachusetts Multifamily Northeast

Davis Cos. Underway on 289-Unit Multifamily Project in Medford, Massachusetts

by Taylor Williams November 4, 2025

MEDFORD, MASS. — Locally based developer The Davis Cos. is underway on construction of The Clayborn, a 289-unit multifamily project located north of Boston in Medford. The 7.9-acre site formerly housed a self-storage facility. Designed by CUBE 3 Architects, The Clayborn will offer studio, one-, two- and three-bedroom units as well as six townhomes. The Clayborn will also have an affordability component, although specific income restrictions were not disclosed. Amenities will include a pool, fitness center, playground, golf simulator and putting green, coworking space, dog park and a rooftop deck. Plumb House is the general contractor for the project, which is expected to be complete in 2027.

November 4, 2025

Development Multifamily Northeast Pennsylvania

Hankin Group Breaks Ground on 160-Unit Multifamily Project in Downingtown, Pennsylvania

by Taylor Williams November 4, 2025

DOWNINGTOWN, PA. — Locally based developer Hankin Group has broken ground on a 160-unit multifamily project in Downingtown, a western suburb of Philadelphia. The project is an expansion of the 70-acre River Station development and will consist of two buildings that will have 67 and 93 units. Residences will come in one- and two-bedroom formats and will range in size from 765 to 1,217 square feet. Residents will have access to amenities such as a pool, coffee bar, fitness center, sports court, golf simulator, demonstration kitchen, business center and a county-wide trail system. Completion of the first building is slated for summer 2026.

November 4, 2025

Arizona Development Industrial Loans Western

ViaWest Group, Barings Receive $107M in Construction Financing for Industrial Project in Phoenix

by Amy Works November 4, 2025

PHOENIX — ViaWest Group and Barings have received $107 million in construction financing for ReDiscover Logistics Park, an industrial development located at 2402 W. Beardsley Road in Phoenix. Kevin MacKenzie, Jason Carlos and Lilley Kroll of JLL Capital Markets arranged the loan through a life insurance company. Situated on 43.5 acres, ReDiscover Logistics Park will offer 808,448 square feet of industrial space spread across four individual buildings ranging from 189,280 square feet to 212,000 square feet with clear heights of 32 to 36 feet, designed to accommodate a diverse range of manufacturing and distribution tenants. The development will incorporate flexible space configurations, a 200-foot shared truck court depth, FM Global compliant sprinkler systems and 980 parking spaces. Construction is underway, with completion slated for first-quarter 2027.

November 4, 2025

Development Hospitality Mixed-Use Restaurant Retail Southeast Tennessee Top Stories

Simon to Develop 100-Acre Sagefield Mixed-Use Center in South Nashville

by John Nelson November 4, 2025

NASHVILLE, TENN. — Simon Property Group (NYSE: SPG) plans to develop Sagefield, a 100-acre mixed-use destination that will be located on the south side of Nashville. The construction timeline for the project was not released. Situated in the hills of Williamson County, the planned project will feature lifestyle shops, restaurants and service retail spaces, as well as a landmark hotel by Author & Edit Hospitality, a hotel brand helmed by restaurateur and hotelier Sam Fox of Fox Restaurant Concepts. “This exciting new development will set a new standard for quiet luxury in metro Nashville and beyond,” says Eric Sadi, co-president of Simon’s North American real estate division. Simon is collaborating on Sagefield with Adventurous Journeys Capital Partners (AJ Capital), a Nashville-based firm that specializes in mixed-use and adaptive reuse development. Simon and AJ Capital are currently collaborating on Nashville Premium Outlets, a 325,000-square-foot outlet mall that will break ground next year in Thompson’s Station, Tenn. Plans for Sagefield also call for first-to-market boutique retailers, household-name operators, farm-to-table restaurants and cafés, an organic market, entertainment venues and health and wellness concepts. The development’s planned hotel will offer signature restaurants, a high-end spa, sports and a social members club. Simon says that …

November 4, 2025

Development Industrial Market Reports Texas Texas Market Reports

Industrial Design Requirements Shift Following Supply Boom in Major Texas Markets

by Taylor Williams November 4, 2025

Once upon a time, not so long ago, an industrial developer in Texas could pick an appropriately zoned spot on the map, throw up four walls and a roof, slap a few utilities in place and reasonably expect multiple tenants to quickly reach out and express a willingness to pay healthy rent for that space. That’s a colorful and simplified view of the pinnacle of the post-COVID Texas industrial market, but it’s not a farcical take. Between roughly early 2021 and mid-2023, phrases like “record-breaking,” “gangbusters” and “never seen anything like it,” were routinely used by brokers and owners alike to describe the state of industrial tenant demand. Combined with cheap debt and available equity, the ferocious need for warehouse, distribution and manufacturing space sparked absorption of older buildings and fresh capitalizations of new projects across all major markets. Tenants needed space yesterday, and supply chain disruptions — for developers and tenants — were simply a cost of doing business. And business was very, very good. Business is still good today. But the development landscape has undoubtedly shifted while the capital markets that govern said landscape have invariably cooled. New development, particularly in terms of equity, is significantly harder to …

November 4, 2025

Company News Development Maryland Mixed-Use Southeast

MAG Partners Exits $5.5B Baltimore Peninsula Development Team

by John Nelson November 3, 2025

BALTIMORE — MAG Partners has announced its exit from the master development team of Baltimore Peninsula, a $5.5 billion mixed-use development underway in south Baltimore. The multi-phase, 235-acre development, formerly branded as Port Covington, is led by Sagamore Ventures, a developer founded by Under Armour’s CEO Kevin Plank, as well as Goldman Sachs Urban Investment Group and the City of Baltimore. MacFarlane Partners has also been a member of the development team since joining alongside MAG Partners in 2022, but the San Francisco-based firm has also left the project, according to the Baltimore Business Journal. The news outlet also reported that MAG Partners will stay involved in several office leases in the works alongside leasing agent Courtenay Jenkins of Cushman & Wakefield. In its departure statement, MAG Partners says the firm was involved in opening 1.1 million square feet of commercial space at Baltimore Peninsula and stabilizing 450 apartments since joining the development team in May 2022. The Baltimore Business Journal reports that Sagamore Ventures is seeking out development partners for the remaining phases of Baltimore Peninsula.

November 3, 2025

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