Tuesday, August 18, 2026
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Jefferson-Pearson-Ranch-Austin
DevelopmentMultifamilyTexas

JPI to Develop $90M Multifamily Project in Northwest Austin

by Taylor Williams

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.

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AcquisitionsIndustrialTexas

Apricus, ABR Capital Buy 18.5-Acre Industrial Outdoor Storage Facility in Northwest Houston

by Taylor Williams

HOUSTON — A partnership between Dallas-based Apricus Realty Capital and Baltimore-based ABR Capital Partners has purchased an 18.5-acre industrial outdoor storage (IOS) facility in northwest Houston. The facility at 11403 N. Houston Rosslyn Road, which was fully leased at the time of sale to American Piping Products, includes approximately 53,000 square feet of warehouse and service facilities. C.W. Sheehan, Jack Britton, Peyton Ackerman and Nate Henderson of JLL arranged acquisition financing for the deal. The seller and sales price were not disclosed.

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IndustrialLeasing ActivityTexas

Alcon Research Signs Industrial Lease Renewal, Expansion in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Alcon Research LLC, which supports innovation in the field of eye care, has signed an industrial lease renewal and expansion in Fort Worth. The address was not disclosed, but the company’s new footprint is roughly 385,000 square feet. Allyson Yost of Colliers represented the tenant in the lease negotiations. Matt Carthey and Trey Goodspeed with Holt Lunsford Commercial represented the landlord, Boston-based TA Realty.

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AcquisitionsRetailTexas

Marcus & Millichap Brokers Sale of 8,024 SF Retail Strip Center in South Houston

by Taylor Williams

HOUSTON — Marcus & Millichap has brokered the sale of The Market at City Park, an 8,024-square-foot retail strip center in South Houston. Built in 2024 on 1.5 acres, the center was fully leased at the time of sale to Chipotle Mexican Grill, Marble Slab Creamery & Great American Cookies, The UPS Store and TLN Family Dental. Chris Gainey and Phillip Levy of Marcus & Millichap represented the seller, local owner-operator Read King, in the transaction. The buyer and sales price were not disclosed.

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DevelopmentHospitalityLouisianaSoutheast

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

by John Nelson

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.

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AlabamaDevelopmentMultifamilySoutheast

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

by John Nelson

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.

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AcquisitionsDistrict of ColumbiaSoutheastStudent Housing

HH Group Acquires 212-Bed Student Housing Property Near George Washington University

by John Nelson

WASHINGTON, D.C. — HH Group has acquired Varsity on K, a 212-bed student housing development located near the George Washington University campus in Washington, D.C.’s West End neighborhood. The community offers 197 fully furnished units in studio through three-bedroom configurations. Shared amenities include a fitness center, resident lounge, demonstration kitchen, business center, game lounge, package lockers, private study and meeting rooms and an outdoor courtyard with dining areas, grilling stations and a fire pit. The seller and terms of the transaction were not released. The new ownership plans to begin a comprehensive repositioning program at the property, to include rebranding the community as Haven on K; refreshed common areas; the addition of expanded amenity offerings; and common area, security and building system upgrades. The community will be managed by HH Red Stone, the company’s vertically integrated property management arm.

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AcquisitionsSelf-StorageSoutheastTennessee

Matthews Arranges Sale of 574-Unit Self-Storage Facility in Chattanooga

by John Nelson

CHATTANOOGA, TENN. — Matthews has arranged the sale of a 574-unit self-storage facility located at 606 Manufacturers Road in Chattanooga’s Northshore neighborhood. Extra Space Storage manages the property, which was built in 2021 and offers 75,520 square feet of rentable climate-controlled space. Austin McLeod and Hunter Reynolds of Matthews represented the seller, an unnamed developer, in the transaction. The buyer, a private equity firm based in New York and repeat client of Matthews, purchased the property for an undisclosed price. The facility was 95 percent occupied at the time of sale.

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The-Arbor-Bronx
DevelopmentMultifamilyNew YorkNortheast

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

by Taylor Williams

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.

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DevelopmentLoansMultifamilyNew JerseyNortheast

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

by Taylor Williams

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

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