Thursday, August 27, 2026
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The-Albritton-Friendswood
DevelopmentLoansMixed-UseTexas

Concord Summit Capital Arranges $28M in Financing for Metro Houston Mixed-Use Project

by Taylor Williams

FRIENDSWOOD, TEXAS — Florida-based intermediary Concord Summit Capital has arranged $28 million in financing for The Albritton, a 163,176-square-foot mixed-use project that is under construction in the southeastern Houston suburb of Friendswood. The Albritton is planned to feature 111 apartments, 11,000 square feet of retail space, 9,000 square feet of office space and a 72,000-square-foot parking garage. Daniel Eidson and Ben Applebaum of Concord Summit Capital originated the nonrecourse loan through an undisclosed lender on behalf of the borrower, Tannos Development Group. Completion is slated for 2028.

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AcquisitionsIllinoisMidwestMultifamily

JVM Realty Buys 280-Unit Apartment Community in Oswego, Illinois

by Matthew Auchincloss

OSWEGO, ILL. — JVM Realty Corp. has purchased Springs at Oswego, a 280-unit apartment community located 48 miles west of Chicago and rebranded the property as Trillium at Oswego. Continental Properties sold the property, and Cushman & Wakefield brokered the deal. The purchase price was not disclosed. Located at 801 Fifth Street, the gated community was completed in 2019 and features townhome-style units across two-story residential buildings. Residences come in studio, one-, two- and three-bedroom floor plans. Amenities include a heated pool, 24-hour fitness center, a clubhouse with lounge and entertainment areas, outdoor grilling stations, fire pit, car wash, two dog parks and gated access.

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DevelopmentIndustrialNorth CarolinaSoutheast

Merritt Properties Breaks Ground on 150-Acre Industrial Park Near Raleigh-Durham Airport

by John Nelson

MORRISVILLE, N.C. — Merritt Properties has broken ground on the first phase of RDU Business Park, a 150-acre light industrial development located at 2040-2060 Seagirt Ave. in Morrisville, about three miles from Raleigh-Durham International Airport. The project will be situated in the jurisdiction of the city of Cary, N.C. Phase I, which is set for completion in late 2027, will span 31 acres and comprise three single-story buildings totaling 201,250 square feet.  All three buildings will include 18- or 24-foot clear heights, rear-loading docks, drive-in capabilities, 30- and 40-foot column spacing and surface parking. Two buildings will share a 150-foot truck court, while the third will feature a dedicated 110-foot truck court. At full build-out, RDU Business Park will comprise 13 single-story buildings spanning 790,527 square feet. Merritt Properties is handling the leasing assignment at the park internally.

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AcquisitionsMidwestMultifamilyNebraskaSeniors Housing

Agemark Acquires, Rebrands Seniors Housing Community in Omaha

by Matthew Auchincloss

OMAHA, NEB. — Agemark Senior Living has acquired Esprit Whispering Ridge, an assisted living and memory care community located in Omaha.  Agemark has rebranded the property as The Bellflower at Whispering Ridge. Along with its undisclosed investment partner, Agemark plans to invest approximately $1.3 million in capital improvements at the community. Moving forward, The Bellflower will also offer independent living and “assisted living plus” units. This acquisition brings Agemark’s Omaha portfolio to five communities totaling more than 450 units. 

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IllinoisLeasing ActivityMidwestMultifamily

Cross Street, Mavrek Begin Leasing 46-Unit Apartment Building in Chicago 

by Matthew Auchincloss

CHICAGO — Cross Street and Mavrek have begun leasing Belmora, a 46-unit apartment building located at 919 W. Belmont Ave. in Chicago’s Lakeview neighborhood. Designed by Eckenhoff Saunders, the building includes 5,700 square feet of ground-floor retail space that is anchored by Studio Three, a locally based fitness company. A second building at 917 W. Belmont Ave. will be completed later this year and will include an additional 46 apartments and 5,300 square feet of ground-floor retail space that will be anchored by Foxtrot Café & Market. Units come in studio through two-bedroom floor plans, with monthly asking rents starting at $2,095. Amenities include a fitness center, coworking space, package room, bicycle storage room with additional resident lockers and a furnished lobby lounge with a fireplace.

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DevelopmentLoansMultifamilySoutheastVirginia

Bonaventure Begins Construction on $93.3M Apartment Development in Metro Richmond

by John Nelson

CHESTER, VA. — Bonaventure has begun construction on Attain at Swift Creek, a $93.3 million multifamily development located at 6805 Greenyard Road in Chester, a southern suburb of Richmond in Chesterfield County. The Alexandria, Va.-based developer obtained a $79.9 million HUD 221(d)(4) construction loan for the project. Walker & Dunlop originated the 40-year, fixed-rate loan on behalf of Bonaventure, which will finance the balance of the development costs via its balance sheet while searching for a long-term equity partner. Situated on a 31-acre site adjacent to a Kroger Marketplace-anchored shopping center, Attain at Swift Creek will feature a mix of one-, two- and three-bedroom apartments averaging 1,058 square feet in size. The project team includes KBS Inc. (general contractor), RBA Architects and Timmons Group (civil engineer). Bonaventure will name a property manager for the community at a later date.

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AcquisitionsMidwestOhioRetail

Prudent Growth Partners Purchases 25,400 SF Retail Center in Ashland, Ohio

by Matthew Auchincloss

ASHLAND, OHIO — Prudent Growth Partners has purchased Amberwood Plaza, a 25,400-square-foot neighborhood retail center located in the north-central Ohio city of Ashland, for $3.5 million. Constructed in 2006, Amberwood Plaza was 94 percent leased to 10 tenants, including Tacos and Tequila and Verizon Wireless, at the time of sale. More than 28 percent of the center’s leasable space has been occupied by the same tenants for over 15 years.

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DevelopmentGeorgiaMultifamilySoutheast

Woodfield to Develop 320-Unit Apartment Community in Brookhaven, Georgia

by John Nelson

BROOKHAVEN, GA. — Woodfield Development plans to develop a new 320-unit apartment community located at 4170 Ashford Dunwoody Road NE in Brookhaven, a northeastern suburb of Atlanta in DeKalb County. The property will sit on five acres within Ashford Green, a mixed-use redevelopment by Vela Cos. that will features residences, offices, a hotel and restaurants. The site was recently rezoned from office to multifamily, and Woodfield plans to close on its land acquisition in second-quarter 2027. The unnamed apartment community will feature a mix of studio, one-, two- and three-bedroom floor plans, as well as a resort-style pool, clubhouse and coworking areas. The design-build team will include Dwell Design Studio (architect), PEC (civil engineer) and Spacecraft (landscape architect). The construction timeline was not released.

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AcquisitionsFloridaRestaurantRetailSoutheast

JLL Arranges Sale of Open-Air Retail Center in Land O’ Lakes, Florida

by John Nelson

LAND O’ LAKES, FLA. — JLL has arranged the sale of The Hub at Bexley, an open-air retail center located at 16954 Focus Loop in Land O’Lakes, about 20 miles north of Tampa. Jorge Portela, Danny Finkle and Jacob Wise of JLL represented the seller, Center Connect Development, which delivered The Hub at Bexley in 2023. CenterSquare Investment Management purchased the property for an undisclosed price. The 50,000-square-foot retail center, which is designed in a village setting, was fully leased at the time of sale to tenants including BellaBrava, Stillwaters Tavern and TREK Bikes.

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Tower-2600-Richardson
AcquisitionsOfficeTexas

Newmark Negotiates Sale of 229,307 SF Office Building in Richardson, Texas

by Taylor Williams

RICHARDSON, TEXAS — Newmark has negotiated the sale of Tower 2600, a 229,307-square-foot office building located in the northeastern Dallas suburb of Richardson. The nine-story building was 92 percent leased at the time of sale and offers amenities such as a fitness center, conference facilities, tenant lounge and grab-and-go food service. Gary Carr, Robert Hill, Chris Murphy and Austin Sheahan of Newmark represented the seller, Development Ventures Group, in the transaction. The buyer was Harkinson Investment Group.

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