Saturday, April 25, 2026
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DevelopmentFloridaHospitalityLoansSoutheast

Newmark Arranges $94.4M Loan for Refinancing, Repositioning of Downtown Tampa Hotel

by John Nelson

TAMPA, FLA. — Newmark has arranged a $94.4 million loan for the refinancing of Hotel Cala, formerly known as Hotel Tampa Riverwalk. The 281-room is located along the 2.6-mile Tampa Riverwalk overlooking the Hillsborough River in downtown Tampa. Jordan Roeschlaub, Nick Scribani, Ricky Braha, Tyler Dumon and Tate Keir of Newmark arranged the financing through Bain Capital and Smith Hill Capital on behalf of the borrower, a partnership between Newbond Holdings and Apollo. The ownership is executing a comprehensive repositioning strategy at Hotel Cala, including a full renovation and rebranding of the property into a luxury hotel under the Curio Collection flag. Renovations will include upgrades to guest rooms, meeting spaces and amenity offerings, including a flagship food-and-beverage concept. The construction timeline for the repositioning was not disclosed.

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DevelopmentGeorgiaHospitalitySoutheast

Noble Opens 148-Room Tempo by Hilton Savannah Historic District Hotel

by John Nelson

SAVANNAH, GA. — Noble Investment Group has opened Tempo by Hilton Savannah Historic District, a 148-room hotel located at 220 E. Bryan St. in downtown Savannah. Situated off Reynolds Square and steps from the Savannah River, the hotel represents the first Tempo by Hilton property in Georgia. McKibbon Hospitality manages the hotel on behalf of Noble. Each hotel room offers spa-inspired bathrooms with Bluetooth speaker mirrors and Apotheke bath products; Sealy Accelerate mattresses; Peloton bikes; yoga mats; and resistance bands. Amenities include a lobby with gathering spaces, 3,000 square feet of meeting spaces and a 24-hour fitness center. Food-and-beverage offerings include Waving Girl Rooftop, a rooftop bar, and Bluestone Lane Café, an Australian-style café overlooking Reynolds Square.

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DevelopmentFloridaIndustrialSoutheast

FRP Development Completes 200,000 SF Industrial Facility in Delray Beach, Florida

by John Nelson

DELRAY BEACH, FLA. — FRP Development Corp. has completed the first phase of Logistics Center at Delray, a 40-acre industrial park underway in west Delray Beach. Situated along Route U.S. 441 in South Florida’s Palm Beach County, Phase I of the park comprises a 200,000-square-foot facility with 36-foot ceiling heights, 215 parking spaces and 45 dock doors. Christopher Thomson, Matthew McAllister and Eric Cantor of Cushman & Wakefield are handling the leasing assignment for the facility, which is divisible to 30,000 square feet. FRP Development is developing the park in partnership with PCCP LLC. At full build-out, Logistics Center at Delray will span three buildings totaling approximately 600,000 square feet.

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DevelopmentMultifamilySoutheastTennessee

Novare, BCDC Welcome Residents to 271-Unit Apartment Community in Knoxville

by John Nelson

KNOXVILLE, TENN. — A joint venture between Novare Group and Batson-Cook Development Co. (BCDC) has begun tenant move-ins at Elmstead West Knoxville, a 271-unit apartment community located at 962 Mabry Hood Road in Knoxville. The property features a mix of one-, two- and three-bedroom residences, as well as a resort-style pool, private garages, coworking lounge, fitness center, clubroom, grilling stations, fire pits, a dog park and pet spa. Monthly rental rates at Elmstead West Knoxville start at $1,557, according to the property website. The design-build team includes architect Dynamik Design and general contractor Summit Contracting Group. SouthState Bank provided construction financing to Novare and BCDC.

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Clay-Road-Business-Park-Sunnyvale-Texas
DevelopmentIndustrialLoansTexas

CapRock Partners Begins Development of 483,128 SF Industrial Project in Sunnyvale, Texas

by Taylor Williams

SUNNYVALE, TEXAS — California-based development and investment firm CapRock Partners has broken ground on Clay Road Business Park, a 483,128-square-foot industrial project in Sunnyvale, an eastern suburb of Dallas. Clay Road Business Park will consist of three shallow-bay buildings that will total 124,140, 155,802 and 203,186 square feet. Buildings will feature 32- to 36-foot clear heights, 81 dock-high doors, six grade-level doors and parking for 517 cars and 67 trailers. Greg Brown, Greg Napper, Peter Thompson, Kyle White and Nick Englhard of JLL arranged an undisclosed amount of construction financing for the project through an unnamed regional bank. The loan carried a floating interest rate and a 3.5-year term with two one-year extension options.

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DevelopmentIndustrialTexas

Partners Development Breaks Ground on 108,750 SF Industrial Project in Buda, Texas

by Taylor Williams

BUDA, TEXAS — Partners Development, a division of Partners Real Estate, has broken ground on a 108,750-square-foot industrial project in Buda, a southern suburb of Austin. The project represents Phase I of a larger, 23-acre development that will be known as Onion Creek Trade Center (formerly known as South Austin Commerce Center) and will span 216,750 square feet across eight freestanding buildings. Buildings will range in size from 16,875 to 36,000 square feet and will feature 25-foot clear heights, grade-level loading and dedicated office space. Completion is slated for the fourth quarter. Method is the project architect, and Kimley-Horn is the civil engineer. Partners is also the leasing agent.

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Leasing ActivityRetailTexas

EōS Fitness to Open 30,000 SF Gym in Arlington

by Taylor Williams

ARLINGTON, TEXAS — EōS Fitness will open a 30,000-square-foot gym in Arlington. The locally based operator will backfill a space previously occupied by Conn’s HomePlus at Arlington Highlands, a shopping center that is also home to tenants such as Ulta Beauty, lululemon and Studio Movie Grill. Segovia Partners represented EōS Fitness in the lease negotiations. Shop Cos. represented the landlord, a partnership between AEW Capital Management and Fairbourne Properties.

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IndustrialLeasing ActivityTexas

Daltex Glass & Aluminum Signs 11,430 SF Industrial Lease Expansion in Farmers Branch, Texas

by Taylor Williams

FARMERS BRANCH, TEXAS — Daltex Glass & Aluminum has signed an 11,430-square-foot industrial lease expansion in the northern Dallas suburb of Farmers Branch. The tenant, which also renewed its lease as part of the deal, has doubled its footprint at the building at 11431 Ferrell Drive, which according to LoopNet Inc. was built in 1981. Andrew Gilbert and Jon Skidmore of Holt Lunsford Commercial represented the landlord, locally based investment firm ATCAP Partners, in the lease negotiations.

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The-Hillburn-Phoenix-AZ
ArizonaBuild-to-RentDevelopmentSingle-Family RentalWestern

Partnership Delivers 283-Unit Build-to-Rent Community in North Phoenix

by Amy Works

PHOENIX — Mark-Taylor Residential, Scottsdale, Ariz.-based Sunbelt Holdings and Boston-based Rockpoint have developed The Hillburn, a build-to-rent multifamily community in North Phoenix. Located at 2550 W. North Foothills, the community is minutes from the Norterra shopping and dining district and near the Taiwan Semiconductor Manufacturing Co. facility. The Hillburn features 283 three-bedroom townhomes, ranging from 1,729 square feet to 2,291 square feet, and two-, three- and four-bedroom single-family detached homes, ranging from 1,323 square feet to 2,338 square feet. Each residence offers two-car garages with electric vehicle charging, covered patios, porches and private backyards. The floor plans feature expansive living areas, modern kitchens with oversized islands, spa-inspired bathrooms, smart-home technology and premium finishes throughout. Community amenities include a 6,200-square-foot clubhouse with a pool, fitness center, golf simulator and a complimentary coffee bar. Additional amenities include a dog walking path, park, children’s playground, pickleball court and basketball court.

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Cedarbrook-Lodge-Seattle-WA
HospitalityLoansWashingtonWestern

Sonnenblick-Eichner Co. Secures $24M Loan for Refinancing of Cedarbrook Lodge Hotel in Seattle

by Amy Works

SEATTLE — Sonnenblick-Eichner Co. has arranged $24 million in first mortgage debt to refinance Cedarbrook Lodge in Seattle. A private real estate debt fund provided the nonrecourse, floating-rate, interim five-year loan. Located at 18525 36th Ave. S, Cedarbrook Lodge features a 167-room, full-service hotel situated on 7 acres of restored wetlands, more than 17,000 square feet of meeting space, a 1,600-square-foot fitness center, the 3,000-square-foot The Spa at Cedarbrook Lodge and Copperleaf Restaurant & Bar. Additionally, the property is less than two miles east of Seattle-Tacoma International Airport.

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