NEBRASKA — National Health Investors Inc. (NHI) has acquired a portfolio of six Agemark memory care communities located in Nebraska for $63.5 million. The seller, Agemark Senior Living, will continue to operate the properties, which total 205 units, on a 15-year master lease with two five-year renewal options. Agemark operates the communities under the CountryHouse brand, which was established in 1997 exclusively for residents requiring personalized memory care.
WEST LAFAYETTE, IND. — LV Collective has broken ground on Rambler Riverfront, a two-building student housing development near Purdue University in West Lafayette. The luxury project at 224 E. State St. is slated for completion in fall 2027. Plans for the 799,289-square-foot development include 583 units as well as retail space.
CHARLOTTE, N.C. — Mill Creek Residential has begun leasing Modera Liberty Row, a 239-unit apartment community located at 7740 Liberty Row Drive in Charlotte’s SouthPark neighborhood. The community will offer studio, one-, two- and three-bedroom options averaging 1,100 square feet in size. Monthly rental rates at Modera Liberty Row range from $1,950 to $4,500, according to the property website. Amenities will include a resort-style pool, fitness center with a yoga studio, four elevated courtyards, multiple clubrooms, game room, golf simulator lounge, bocce ball courts, coworking spaces, private offices, pet spa, bicycle storage, 24/7 self-serve package room and secured parking garages with EV charging stations. The two-building property is located on The Loop, a three-mile urban trail, and within close proximity to Piedmont Town Center, Phillips Place and SouthPark Mall. Mill Creek anticipates first move-ins at Modera Liberty Row in June.
STILLWATER, OKLA. — A joint venture between Monument Square Investment Group and affiliates of Walton Street Capital has acquired Cottage Row Stillwater, a 792-bed student housing community located near the Oklahoma State University campus in Stillwater. Developed in 2013, the property offers 231 cottage-style units and townhomes in two-, three-, four- and five-bedroom configurations. Shared amenities include a recently renovated, 11,000-square-foot clubhouse with study rooms, entertainment spaces and a fitness center; resort-style pool and hot tub; grilling stations; green space; full-sized basketball and sand volleyball courts; and a putting green. The joint venture plans to implement several capital improvements at the property, including new exterior paint and enhancements to the pool deck. The seller and additional terms of the transaction were not released.
WACO, TEXAS — Texas-based Parkspring Multifamily will develop a 392-unit multifamily project within the Cottonwood Creek master-planned development in Waco. Commons at Cottonwood Creek will offer a mix of one- and two-bedroom apartment homes that will range in size from 754 to 1,028 square feet. Residences will feature stainless steel appliances, quartz countertops, wood-vinyl plank flooring, full-size washers and dryers, smart-home technology and private yards in select units. Amenities will include a resident clubhouse with a kitchen, coffee bar, pool table, golf simulator and TVs; a business center with private conference rooms and coworking spaces; a resort-style pool with tanning ledges; a fully equipped athletic club; outdoor kitchen areas; and an onsite dog park. EDI International is the project architect, and OHT Partners is the general contractor. Construction will begin this month and is expected to be complete in mid-2027. NewQuest is the master developer of Cottonwood Creek.
RALEIGH, N.C. — Kane Realty Corp. has broken ground on The Strand, a new 20-story apartment high-rise in Midtown Raleigh’s North Hills district. The multifamily tower, which will feature 362 apartments and 9,000 square feet of retail space, will be situated adjacent to the recently sold Advance Auto Parts Tower. The Strand will comprise studio, one-, two- and three-bedroom apartments, as well as top-floor penthouses. The community will also feature an amenity deck on the sixth floor that will include a resort-style pool, grilling area, activity lawn, fitness center and club room, as well as a clubroom on the 18th floor and a speakeasy on the top level that is exclusive for penthouse residents. The project team includes development partner Mitsui Fudosan America, architect Rule Joy Trammell + Rubio, general contractor Balfour Beatty and civil engineer McAdams. Kane Realty plans to welcome first residents at The Strand in summer 2027. The locally based development and management firm is also underway on planning for Phase II of the site.
TAMPA, FLA. — JLL Capital Markets has secured refinancings totaling a combined $134.9 million for three student housing communities across the Southeast. Lee Weaver, Melissa Marcolini Quinn, Rob Rothaug and Jade Starkey of JLL worked on behalf of Commercial Street Partners to secure a $97.5 million refinancing for Apella on Newport in Tampa. The three-year, floating-rate loan was placed through MF1/Limekiln Real Estate Investment Management. The newly constructed community spans 195,076 square feet at 311 North Newport Ave. near the University of Tampa campus. The property offers 576 beds across 150 fully furnished units in two-, three-, four- and six-bedroom configurations. Shared amenities include a rooftop pool, fitness center, study lounges and secured garage parking. Weaver and Quinn, along with Kenny Cutler, Rob Rothaug and Cristian Sieman of JLL, also secured a $22 million refinancing for Preserve at Tech near Louisiana Tech University in Ruston, La. Prime Finance provided the two-year, floating-rate loan to borrower RISE: A Real Estate Co. Completed in 2021 at 1913 West Alabama Ave., the community offers 588 beds across 168 units in three- and four-bedroom configurations. Shared amenities include a resort-style pool, 24-hour clubhouse, computer lab, fitness center and a gaming lounge. JLL also worked on …
ASHEVILLE, N.C. — Cushman & Wakefield has brokered the sale of an eight-acre multifamily development site in Asheville. Atlanta-based Shelton McNally Real Estate Partners purchased the shovel-ready site from Golden Hour Collective with plans to develop a new 210-unit apartment community. Alex Phillips, Battle Smith, Alex McDermott and Sparling Davis of Cushman & Wakefield’s Sunbelt Multifamily Advisory Group represented Golden Hour in the land deal. Specific plans and construction timelines for the development were not released. The site is located within Overlook at Ashville, a 98.8-acre master-planned community that is approved for the 210 apartments, as well as 130 build-to-rent townhomes and up to 176 duplex units. The development is situated on a sloping mountainside within a few miles of downtown Asheville.
SAN DIEGO AND ENCINITAS, CALIF. — Raintree Partners is investing more than $225 million in the San Diego housing market with the development of three Class A multifamily communities. Totaling 498 units, the properties include Treehouse and Flora + Fauna in San Diego’s Bankers Hill neighborhood and Dos Lunas in Encinitas. Currently under construction, the eight-story, 115,453-square-foot Treehouse is located at 2525 1st Ave. in San Diego’s Bankers Hill district. The 107-unit community will feature studio, one- and two-bedroom floor plans, a fitness center and sauna, a Zen spa deck and a roof deck with outdoor dining and lounge space with ocean and bay views and an herb garden adjacent to an outdoor kitchen/garden zone. The asset is slated for completion in November. BDE is serving as architect and ECON Construction is serving as contractor. Flora + Fauna, located at 411 Ivy St. in San Diego’s Bankers Hill, will encompass 115,453 square feet spread across two buildings featuring six levels. The property will offer a sauna, spa and cold plunge, a coworking lounge and a roof deck with ocean and city views. Slated for completion in mid-2026, the community will offer 189 studio, one-, and two-bedroom floor plans, as well as …
By Hayden Spiess Investment firm and asset manager Nuveen has a dedicated “What is C-PACE?” page on its website, outlining the basics of this unique type of financing. That the firm sees such a fact sheet as necessary is unsurprising, given that within the commercial real estate industry, Commercial Property Assessed Clean Energy (C-PACE) financing carries less familiarity relative to other financing products. Anne Hill, senior vice president of Bayview PACE, says that “there are some misconceptions out there” and that there is “some confusion around the product.” Lenders say that now though, despite the fact that some misinformation and lack of awareness persist, the tool is rapidly gaining favor among borrowers that recognize its exceptional utility, especially in the volatile environment of today. Origins Originated in Berkeley, California, in 2008, commercial property assessed clean energy (C-PACE) financing is now available in 40 states throughout the country. C-PACE serves as an alternative funding source for commercial projects that qualify on the basis that they will result in reduced energy and water usage and greater building efficiency. “When the program was created, the idea was that the government wanted to allow property owners an easier way to finance energy efficiency …
