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DevelopmentMultifamilySoutheastTennessee

Crescent Communities Breaks Ground on 309-Unit Multifamily Community in Murfreesboro, Tennessee

by John Nelson

MURFREESBORO, TENN. — Crescent Communities has broken ground on RENDER Manchester Farm, a 309-unit apartment community located on a 35-acre farm in the Middle Tennessee city of Murfreesboro. The Charlotte-based developer expects to open first units in summer 2026. Situated 30 miles south of Nashville, RENDER Manchester Farm will feature a mix of one-, two- and three-bedroom units, as well as rural-centric amenities including a functioning farm, garden, fully stocked toolshed and a clubhouse with a front porch and swings. Other amenities will include a pool area with a smoker, fire pit and picnic tables, as well as a dog park and a fitness center with a yoga studio. The design-build team includes Crescent Communities Construction, Dwell Design Studio, Edge and Huddleston-Steele Engineering. Capital partners include ParkProperty Capital, BOK Financial and Cadence Bank.

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DevelopmentFloridaLoansMultifamilySoutheast

Encore Multifamily Obtains $48.7M HUD-Insured Loan for Fort Myers Development

by John Nelson

FORT MYERS, FLA. — Encore Multifamily, a division of Dallas-based Encore Enterprises, has obtained a $48.7 million HUD 221(d)(4) loan for the construction of a new apartment development in Fort Myers. The project, known as Encore Daniel Falls, will comprise 240 Class A apartments and be situated on 6.7 acres near I-75 and South Florida International Airport. Encore Multifamily broke ground on the development in December and expects to deliver the community by third-quarter 2026. Upon completion, Encore Daniels Falls will feature studio, one-, two- and three-bedroom units, as well as a clubhouse, fitness center, business center, pool, dog park and a 24-hour package room.

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Pique-Student-Apts-Berkeley-CA
CaliforniaDevelopmentMultifamilyStudent HousingWestern

Gilbane Begins Development of 485-Bed Student Housing Community Near UC Berkeley

by Amy Works

BERKELEY, CALIF. — Gilbane Development Co. has broken ground on Pique, a 485-bed student housing project located at 2587 Telegraph Ave. near the University of California (UC) Berkeley campus. The eight-story community will offer 52 units with bed-to-bath parity. Shared amenities will include an indoor and outdoor fitness center and yoga studio, outdoor study space, a cabana area, two rooftop decks, a coworking lounge, smart food lockers, private study pods and 2,900 square feet of ground-floor retail space. The project will begin leasing in fall 2025 with occupancy scheduled for summer 2026. The development site was formerly occupied by retailer Buffalo Exchange. “We are focused on making every inch count with efficiency, privacy and functionality at the core of the design, driving innovation that caters to the needs of Berkeley students at an affordable price point,” says Christian Cerria, development director with Gilbane.

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CapRock-West-202-Logitsics-Ph2-Phoenix-AZ
ArizonaDevelopmentIndustrialWestern

CapRock Partners Breaks Ground on 825,000 SF Spec Industrial Project in Phoenix

by Amy Works

PHOENIX — CapRock Partners has broken ground on CapRock West 202 Logistics Phase II, the 820,000-square-foot final phase of a speculative industrial development on 43 acres in southwest Phoenix. Sitework began in January on Phase II with project completion slated for November. Upon completion, CapRock West 202 Logistics Phase II will feature a 301,771-square-foot Building F, 295,586-square-foot Building G and 227,107-square-foot Building H. The properties will offer clear heights ranging from 32 feet to 36 feet. Buildings F and G will feature 47 dock-high doors, and Building H will include 45 dock-high doors. All Phase II buildings will feature four drive-in ramp doors and speculative office suites, R-38 warehouse roofs, R-11 warehouse wall insulation, full-building HVAC, LED lighting in the warehouse, dock-high load levelers and ample parking. Payson MacWilliam and Don MacWilliam of Colliers are handling leasing efforts for CapRock West 202 Logistics. At total project completion, CapRock West 202 Logistics will consist of 3.4 million square feet of Class A industrial warehouse space on 183 acres. CapRock completed Phase I, which includes approximately 2.5 million square feet of Class A industrial warehouse space across five buildings on 140 acres, in July 2023.

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Parts-Town-Fulfillment-Center-Glendale-AZ
ArizonaDevelopmentIndustrialWestern

Stevens-Leinweber Delivers 420,536 SF Global Fulfillment Center for Parts Town in Glendale, Arizona

by Amy Works

GLENDALE, ARIZ. — Phoenix-based Stevens-Leinweber Construction has completed the Global Fulfillment Center, within C|303 industrial park in Glendale, for Illinois-based Parts Town Unlimited. The new facility is Parts Town’s first location in the Southwest and its largest and most technologically advanced U.S. fulfillment center to date. Parts Town works in the high-tech distribution of original equipment manufacturer (OEM) foodservice equipment parts, residential appliance parts, HVAC parts, consumer electronic parts and related products. Global Fulfillment Center spans 420,536 square feet, occupying all of Building B at C|303 Phase I, a 1.7 million-square-foot industrial development by Merit Partners. The Parts Town facility features a 30,000-square-foot robotic Autostore system, a 42,000-square-foot mezzanine system, expanded battery charging capabilities for 24 forklifts, an automated material handling conveyor system running throughout the warehouse and two trucker’s lounges with dedicated restrooms. C|303 Phase I was designed and constructed by SLC and Butler Design Group as a speculative three-building development. Each building features a clear height of 40 feet, 20 dock-high and drive-in ramp doors, up to 70-foot speed bats, 8-inch reinforced floors and secured and expansive parking for autos and trailers. Additionally, all buildings offer LED lighting, insulated systems to maximize heating and cooling efficiencies and are Foreign …

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CivicDevelopmentMidwestMinnesota

Kraus-Anderson Completes $58M Police, Public Works Facility in Rosemount, Minnesota

by Kristin Harlow

ROSEMOUNT, MINN. — Kraus-Anderson has completed construction of a $58 million police and public works facility for the City of Rosemount in Minnesota. The 20-acre project is located at 14041 Biscayne Ave. Designed by BKV Group and Oertel Architects, the 172,200-square-foot development features three buildings, including a 160,101-square-foot police department and public works facility, a 7,400-square-foot cold storage building and a 4,800-square-foot salt storage building. The 48,718-square-foot police department features a squad garage for 35 vehicles, an office with a storm shelter, holding rooms and a six-lane gun range. The 111,383-square-foot public works facility includes a vehicle storage bay for 17 plow trucks and 57 vehicles, an office, wash bay and maintenance areas. Construction began in June 2023.

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Fairways-at-Cranford-New-Jersey
DevelopmentNortheast

Hartz Mountain Begins Leasing 250-Unit Apartment Complex in Cranford, New Jersey

by Taylor Williams

CRANFORD, N.J. — Hartz Mountain Industries has begun leasing Fairways at Cranford, a 250-unit apartment complex in Northern New Jersey. Situated on a 13.5-acre site that is adjacent to a golf course, the property offers studio, one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops and custom closets. Amenities include a fitness center, resident lounge, playroom, conference room, gaming area, theater room, landscaped courtyards and grilling stations. Minno & Wasko Architects & Planners designed the property, and March Construction served as the general contractor. Rents start at $2,490 per month for a studio apartment.

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The Perigon Miami Beach in Miami, Florida
DevelopmentFloridaLoansMultifamilyProperty TypeSoutheastTop Stories

Mast Capital, Starwood Receive $390M Construction Loan for Residential Project in Miami Beach

by Channing Hamilton

MIAMI BEACH, FLA. — A joint venture between Mast Capital and a controlled affiliate of Starwood Capital Group has secured $390 million in construction financing for The Perigon Miami Beach, a 73-unit condominium development located at 5333 Collins Ave. in Miami Beach. Eldridge Real Estate Credit, a Greenwich, Conn.-based asset manager and holding company, provided the loan. “We are proud to partner with Mast Capital and Starwood Capital Group on The Perigon Miami Beach,” said Matthew Rosenfeld, a managing director at Eldridge Real Estate Credit. “This is a project that represents the exceptional, visionary real estate we seek to finance, and further underscores the continued growth and momentum of our business.” Located in the popular Mid-Beach neighborhood, The Perigon Miami Beach will offer two-, three- and four-bedroom residences ranging from 2,100 to 6,700 square feet, each featuring 10- to 12-foot wraparound balconies. The property will also offer eight private guest suites. Roughly 75 percent of the condos have been sold. The building will offer approximately 40,000 square feet of indoor and outdoor amenities. Planned community amenities include a pool with cabanas, spa with sauna, salon, fitness center, children’s playroom, screening room, wine room and a lobby lounge. Residents will also …

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Laredo-Logistics-Crossing
DevelopmentIndustrialTexas

Scannell Properties, Invesco Break Ground on 586,667 SF Industrial Project in Laredo, Texas

by Taylor Williams

LAREDO, TEXAS — A joint venture between Indianapolis-based developer Scannell Properties and Atlanta-based Invesco Real Estate has broken ground on a 586,667-square-foot industrial project in the Rio Grande Valley city of Laredo. The project represents the second phase of a larger development known as Laredo Logistics Crossing and will comprise two buildings totaling 327,600 and 259,067 square feet. Combined, the buildings will offer parking for 508 cars and 243 trailers. Phase II is slated for a fourth-quarter completion. Scannell completed the 401,100-square-foot initial phase of Laredo Logistics Crossing in May 2023 and subsequently sold the property to Invesco.

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DevelopmentLoansMultifamilyTexas

DPG Investments Arranges $56.2M in Financing for Manufactured Housing Project in Terrell, Texas

by Taylor Williams

TERRELL, TEXAS — An affiliate of DPG Investments LLC, a family office, merchant banking and private capital advisory firm, has arranged $56.2 million in financing for a 1,036-unit manufactured housing project in Terrell, about 35 miles east of Dallas. The financing includes senior debt, mezzanine debt and preferred equity that will be used to both acquire and develop the property, which will be known as Post Oak. The borrower, is an affiliate of K8H Ventures, a metro Houston-based owner-operator of manufactured housing. Additional project details were not disclosed.

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