Development

Greystar, Ole Miss to Develop Two Residence Halls Totaling 2,700 Beds, Dining Facility

by John Nelson July 9, 2025

OXFORD, MISS. — A public-private partnership between Greystar and the University of Mississippi (Ole Miss) is set to break ground on a 2,700-bed residence hall project on the university’s campus in Oxford. The development will span two sites — one formerly occupied by Kincannon Hall and one on West Row across from the Ole Miss School of Law. The Kincannon site will be home to a 1,200-bed community with parking supported by a new parking garage, which is already under construction. The West Row site will include a 1,500-bed development with a modern dining facility and 1,500-space parking garage. The communities will offer suites and semi-suites and will be constructed in partnership with Modern Living Solutions, Greystar’s modular construction business. Sections of the buildings will be made in the Modern Living Solutions factory in Knox, Pa., and shipped to campus to be assembled onsite. To support economic development and job creation in Mississippi, Ole Miss and its partners have emphasized that over 70 percent of the onsite construction work will be available to local and regional subcontractors. The project is scheduled for completion in 2027.

July 9, 2025

Development Hospitality Loans Southeast Tennessee

Cronheim Hotel Capital Secures $39M Construction Financing for AC Hotel Knoxville Downtown

by John Nelson July 9, 2025

KNOXVILLE, TENN. — Cronheim Hotel Capital has secured $39 million in construction financing for AC Hotel Knoxville Downtown, a 161-room AC by Marriott-branded hotel that will be located at 427 Walnut St. and 416 Locust St. in downtown Knoxville. The non-recourse financing was structured with a 75 percent loan-to-cost (LTC) ratio and features a C-PACE component. The borrower, Vector Hospitality Inc., plans to deliver the seven-story hotel in winter 2026. The property will feature a rooftop bar and kitchen that will offer views of Neyland Stadium, home of the University of Tennessee Volunteers’ football team.

July 9, 2025

California Development Retail Western

Capstone Advisors Completes $1M Renovation of Mission Escondido Shopping Center in Metro San Diego

by Amy Works July 9, 2025

ESCONDIDO, CALIF. — Capstone Advisors has completed the $1 million renovation of Mission Escondido Shopping Center, a 41,530-square-foot shopping center located in Escondido, approximately 30 miles north of San Diego. The property was originally built in 1980. The renovation project included a contemporary design with a refreshed color palette and standing seam metal roof, as well as drought-tolerant landscaping, updated site and tenant signage and parking lot improvements. Additionally, the center is now fully leased to 14 tenants including Dongbu Korean BBQ, Prism Jiu Jitsu and Swan Hair Salon. AO and MW Peltz + Associates of Solana Beach designed the renovation, while Dowling Construction, San Diego Electric Sign, Pacific Western Painting, Pyle Landscape Care and Doo-Rite Roofing completed the project. Capstone Advisors acquired Mission Escondido Shopping Center in 2011 for $3.9 million.

July 9, 2025

Acquisitions Development Midwest Multifamily Ohio

Vision Cos. Acquires 28.5-Acre Multifamily Development Site in Kettering, Ohio

by Kristin Harlow July 9, 2025

KETTERING, OHIO — Vision Cos. has acquired 28.5 acres within the Miami Valley Research Park (MVRP) in Kettering, an inner suburb of Dayton. The property is adjacent to Industrial Commercial Properties’ (ICP) Sixth River office park. As part of the Sixth River overall master plan, Vision plans to build a market-rate multifamily community, the first large multifamily project built in the city since the mid-1980s, according to a release. Known as VC Flats, the project will feature approximately 264 apartment units across nine three-story buildings. Proposed amenities include a clubhouse, fitness center, pool, sand volleyball court, outdoor patio and rooftop deck offering views of the adjacent lake. The project is made possible through collaborative efforts by the city and ICP, which played a role in zoning adjustments and crafting incentive packages to attract a residential developer and operator. MVRP is home to several major employers, including Reynolds & Reynolds, Solvita, Matrix Research, Resonant Sciences, Woolpert, Resonetics and Eastman Kodak. ICP continues to retain ownership of the adjacent Sixth River office park, which includes 290,000 square feet of office space across five buildings. ICP also has additional land sites for further commercial development opportunities within the research park.

July 9, 2025

Development Georgia Retail Southeast Top Stories

Trilith Development to Complete 530,000 SF Live Entertainment Complex in Fayetteville, Georgia

by Kristin Harlow July 9, 2025

FAYETTEVILLE, GA. — Trilith Development plans to soon complete Trilith Live, a 530,000-square-foot live entertainment complex at the Town at Trilith, a 235-acre master-planned community in Fayetteville within south metro Atlanta. Designed to host concerts, performing arts, rehearsals, live audience productions, conventions, corporate events and banquets, Trilith Live is scheduled to open to the public by the end of the year. The project will include a 2,200-seat theater, two 25,000-square-foot sound stages (now open), multiple insert stages, a luxury cinema, production suites, meeting rooms and more than 120,000 square feet of creative office and support space. “Trilith Live is designed to serve as a hub for creativity, production and live entertainment,” says Matt McClain, general manager and executive director of Trilith Live. “We are building the infrastructure to support everything from concerts to live TV tapings to conventions and meetings to community and arts events, all in one place.” Phase I, which includes live sound stages, production offices, greenrooms and broadcast-ready facilities, is complete and actively hosting artists, production companies and content creators. Several national acts preparing for their summer tours have completed pre-tour concert rehearsals at Trilith Live. Additionally, more than 200 live audience game show episodes that will …

July 9, 2025

Conference Coverage Development Features Seniors Housing

Seniors Housing Development Is a Worthwhile Investment Despite Challenges, Say InterFace Panelists

by Hayden Spiess July 8, 2025

CHICAGO — Philip Kroskin, head of real estate and senior vice president of investments with Sunrise Senior Living, has a message for those who are reluctant to invest in seniors housing development: “Why are you being so stupid?” Kroskin’s blunt question came during a recent two-day InterFace event at the Swissotel Chicago. Taking place June 24-25, the InterFace Seniors Housing Midwest conference drew 215 attendees and featured a number of panel sessions. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Joining Kroskin on stage for a panel titled “When Will Development Rebound?” during the first evening of the conference were Paul Branin, executive vice president of growth for Health Dimensions Group; Mike Mattingly, principal and co-founder of Avenue Development; Greg Markvluwer, vice president of real estate development at Erdman; and moderator Erin Berry, director of interior design Direct Supply Aptura. Development Deterrents Kroskin’s somewhat damning query was not to suggest that economic and logistical difficulties — such as heightened interest rates and labor costs — do not pose a valid deterrent. Panelists acknowledged these challenges throughout the course of session. …

July 8, 2025

Development Industrial Texas

Joint Venture Breaks Ground on 498,798 SF Spec Industrial Project in Southeast Houston

by Taylor Williams July 8, 2025

HOUSTON — A joint venture between Trammell Crow Co. (TCC) and CBRE Investment Management has broken ground on Phase I of Gulfbelt Logistics Park, a speculative industrial project in southeast Houston that will add 498,798 square feet of space across three buildings to the local supply. Phase I will consist of one cross-dock, one rear-load and one front-load building with footprints ranging from 88,750 to 278,858 square feet and with 28- to 36-foot clear heights. Project partners include Burton Construction Co., Powers Brown Architecture and LJA Engineering. Veritex Community Bank is providing construction financing, and CBRE will handle the park’s leasing assignment on behalf of ownership. Completion is slated for next spring.

July 8, 2025

Affordable Housing California Development Loans Multifamily Western

KeyBank Provides $47M in Construction Financing for Affordable Housing Project in Oceanside, California

by Amy Works July 8, 2025

OCEANSIDE, CALIF. — KeyBank Community Development Lending and Investment (CDLI) has provided Mirka Investments a $32 million tax-exempt construction loan and a $15 million taxable construction loan to finance the development of El Camino Real, an affordable housing community at 2136 S. El Camino Real in Oceanside. Additionally, a $27.8 million permanent loan will be privately placed with one of KeyBank Commercial Mortgage Group’s (CMG) institutional investors. El Camino Real will feature a four-story residential building with 111 two- and three-bedroom apartments for families earning between 30 and 80 percent of the area median income. The property will include a leasing office and community area within a 6,500-square-foot common space, including outdoor recreation space and central laundry rooms on each floor. Supportive services will be provided by Mission Neighborhood Centers, which offers educational programs, workforce development, homelessness prevention and social services. The project received an additional $32 million construction loan from the California Municipal Finance Authority through a Multifamily Housing Private Activity Bond issuance, $12.9 million in certificated credits from the City of Oceanside State Housing Tax Credit program via Monarch Private Capital and $16 million in federal Low-Income Housing Tax Credit equity from WNC. Matthew Haas of KeyBank CDLI structured …

July 8, 2025

Development Multifamily Nevada Seniors Housing Western

Metcalf Builders Completes Valage Carson Valley Senior Living Community in Minden, Nevada

by Amy Works July 8, 2025

MINDEN, NEV. — Metcalf Builders has completed Valage Carson Valley, a senior living community in Minden. Situated on 4 acres, the 79,829-square-foot project offers 88 units, totaling 92 beds, with full-sized kitchens and dining areas. Community amenities include interior and exterior courtyards, an arbor and planters, as well as a wellness center for the assisted living and memory care community. The seniors housing project is valued at $25 million and owned by Valage Minden LLC.

July 8, 2025

Development Loans Multifamily North Carolina Southeast

ATCO Obtains $66M Refinancing for Kinship Apartments in North Charlotte

by John Nelson July 8, 2025

CHARLOTTE, N.C. — ATCO Properties & Management has obtained a $66 million loan for the refinancing of Kinship, a newly built, 301-unit apartment community in Charlotte. The property is the first multifamily component to come on line at Camp North End, a 76-acre adaptive reuse development on the north end of Charlotte. Mark Gallinaro of WelcomeLend arranged the three-year bridge loan from Benefit Street Partners. Kinship was 35 percent occupied at the time of the loan closing. The property features studio, one- and two-bedroom apartments with some live-work floorplans and fully furnished corporate housing options. Amenities include work-from-home office spaces, an outdoor pool and lounge area, gas grills and fire pits, fitness center, communal kitchen, conference room, bike storage, rideshare spots, a parking garage and a shared rooftop space. Greystar operates Kinship on behalf of ATCO.

July 8, 2025

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