Wednesday, September 23, 2026
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LoansNew YorkNortheastRetail

Bally’s Receives $560M in Financing for Casino, Resort Project in The Bronx

by Taylor Williams

NEW YORK CITY — Bally’s Corp. (NYSE: BALY) has received $560 million in financing for its new casino and resort project in The Bronx. Los Angeles-based WhiteHawk Capital Partners provided the financing, which consists of $400 million in “closing date term loan commitments” and $160 million in “delayed draw term loan commitments.” According to Casino.org, the Rhode Island-based gaming and entertainment operator secured the casino license from the State of New York in late 2025 and subsequently acquired 16 acres in The Bronx for the casino and resort, land that was previously part of the Trump Golf Links at Ferry Point. Citizens Capital Markets served as financial advisor to Bally’s on the transaction, which is expected to close before the end of the current quarter.

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DevelopmentIndustrialNortheastPennsylvania

Nokia to Undertake $30M Expansion of Lehigh Valley Semiconductor Facility

by Taylor Williams

UPPER MACUNGIE, PA. — Nokia will undertake a $30 million expansion of its photonic semiconductor advanced test and packaging facilities and operations within the Lehigh Valley city of Upper Macungie. The initiative is expected to create about 250 new jobs, effectively doubling the Finnish telecommunications company’s regional workforce, and to account for an estimated economic impact of $500 million over the next five years. According to Lehigh Valley Live, the investment will allow for Nokia to increase production capacity at its Upper Macungie facility by a factor of 10, and the company has also leased additional industrial space for “future product development and logistics.”

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1-Corporate-Drive-Andover-Massachusetts
Leasing ActivityLife SciencesMassachusettsNortheast

AdvanCell Signs 128,000 SF Life Sciences Lease in Andover, Massachusetts

by Taylor Williams

ANDOVER, MASS. — AdvanCell has signed a 128,000-square-foot life sciences lease in the northern Boston suburb of Andover. The clinical-stage radiopharmaceutical company will occupy the entirety of the building at 1 Corporate Drive, which is located within Innovation Park, a 340,000-square-foot development. The deal brings Phase II of Innovation Park, which is owned by life sciences REIT IQHQ, to full occupancy. Information on third-party brokers who were involved in the lease negotiations was not disclosed.

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NRG-Adventure-Park-Paramus-New-Jersey
Leasing ActivityNew JerseyNortheastRetail

NRG Adventure Park to Open 59,000 SF Entertainment Venue in Paramus, New Jersey

by Taylor Williams

PARAMUS, N.J. — NRG Adventure Park will open a 59,000-square-foot entertainment venue in the Northern New Jersey community of Paramus. The space is located above a 100,000-square-foot grocery store at Paramus Park South shopping center and will house a ropes course, trampolines, a climbing wall and virtual-reality games. Jamie Sackheim of TSCG represented the landlord, a joint venture led by Heidenberg Properties Group, in the lease negotiations. Jerry Welkis and Stephan Miller of Welco Realty represented NRG.

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AcquisitionsNorth CarolinaRetailSoutheast

JLL Arranges $86.7M Sale of 323,113 SF Shopping Center in Metro Raleigh

by John Nelson

RALEIGH, N.C. — JLL has arranged the $86.7 million sale of Knightdale Marketplace, a 323,113-square-foot super regional shopping center in metro Raleigh. Invesco Real Estate purchased the 43.5-acre property from a joint venture between affiliates of Bailard Inc. and M&J Wilkow Ltd. Tom Kolarczyk, Andrew Kahn, Ella Glover and Katie Sanger of JLL represented the seller in the transaction. Built in 2008 along I-540, Knightdale Marketplace is located at 1006 Shoppes at Midway Drive and 210-304 Hinton Oaks Blvd. in Knightdale. Target and The Home Depot shadow-anchor the center, which was fully leased at the time of sale to tenants including Academy Sports + Outdoors, Best Buy, T.J. Maxx, Burlington, Ross Dress for Less, HomeGoods, Michaels, PetSmart, Barnes & Noble, Starbucks, Five Guys, Jersey Mike’s, Qdoba, Tropical Smoothie Cafe, Subway and Visionworks. The shopping center also includes outparcels leased to Wells Fargo, Arby’s and Saltgrass Steak House.

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DevelopmentFloridaRetailSoutheast

Walmart to Anchor 40-Acre Retail Development in St. Cloud, Florida

by John Nelson

ST. CLOUD, FLA. — Walmart plans to anchor a new 40-acre retail development underway in St. Cloud, an Orlando suburb in Osceola County. Situated at the intersection of U.S. Highway 192 and Puffin Road, the property will include a 187,000-square-foot Walmart Supercenter, a Walmart convenience store and gas station and seven to 10 outparcels. The master developer of the project is The Ferber Co., a privately held development firm. The Ponte Vedra, Fla.-based company is currently underway on site work and underground utility installation at the site. First tenants are expected to open by early 2028. The project team includes Hanson, Walter and Associates Inc., Traffic & Mobility Consultants, JR Davis and Cogent Bank. Alex Bisbee of Insite Real Estate helped identify the two-parcel assemblage opportunity for Ferber.

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DevelopmentIndustrialSouth CarolinaSoutheast

Magnus Breaks Ground on 226,800 SF Industrial Building at 803 Park in Columbia, South Carolina

by John Nelson

COLUMBIA, S.C. — Magnus Development Partners has broken ground on Gateway 2, the fourth building at the 803 Park industrial campus adjacent to Columbia Metropolitan Airport. Set to deliver by second-quarter 2027, the 226,800-square-foot building will feature CSX rail service, 18 dock doors, 50- by 54-foot bay spacing and an ESFR fire protection system. Magnus has tapped Chuck Salley, Thomas Beard and John Peebles of Colliers to lease and market Gateway 2. At full completion, 803 Park will comprise five buildings spanning nearly 1 million square feet. To date, three buildings totaling 625,440 square feet have been delivered in the park and are fully leased to six tenants.

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AlabamaBuild-to-RentDevelopmentLoansMultifamilySingle-Family RentalSoutheastUncategorized

Trilogy Obtains Construction Loan for 172-Unit Build-to-Rent Project in Huntsville

by John Nelson

HUNTSVILLE, ALA. — Trilogy Investment Co. has closed on a construction loan for REV3 at The Celeste, a 172-unit build-to-rent (BTR) townhome community underway in Huntsville. The loan amount was not released. Situated on Plummer Road on the north side of Huntsville, the property represents Trilogy’s second BTR opportunity zone fund development with Pinnacle Partners. REV3 at The Celeste will feature three-bedroom townhomes with attached garages, as well as a resort-style pool, clubhouse, fitness center and outdoor gathering spaces. Trilogy and construction affiliate REV3 Homes plan to deliver the first residences at the project in early 2027.

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Verve-Tempe-AZ
ArizonaDevelopmentMultifamilyStudent HousingWestern

Subtext Completes 769-Bed Student Housing Development Near Arizona State University

by Amy Works

TEMPE, ARIZ. — Subtext has completed VERVE Tempe, a 769-bed student housing development located at 1047 S. Terrace Road near the Arizona State University campus in Tempe. Subtext completed the 15-story community in partnership with FrontRange Capital Partners and TPG Real Estate Partners. Kennedy Wilson provided financing. The development team included ESG Architecture & Design and Brinkmann Constructors.  VERVE Tempe spans 479,388 square feet and offers 240 units in studio through four-bedroom configurations. Shared amenities include a rooftop pool and clubroom with a game lounge, photo booth and entertaining kitchen; hot tub and cold plunge; outdoor fire pits, a game lawn and grilling stations; two-story fitness center with smart workout equipment, indoor and outdoor fitness spaces, a dedicated yoga room and wellness suite with a meditation room and sauna; golf simulator; study lounge with private and group study spaces; a pet spa and dog run; lobby coffee bar; and 1,800 square feet of ground-floor retail space.

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Chapman-Market-LA-CA
CaliforniaLoansRestaurantRetailWestern

Northmarq Secures $29.3M Refinancing for Dining, Entertainment Center in Los Angeles

by Amy Works

LOS ANGELES — Northmarq has arranged a $29.3 million loan to refinance Chapman Market, a 41,241-square-foot dining and entertainment center located in Los Angeles’ Koreatown neighborhood. Joe Giordani, Alex Kane and Karl Weidell of Northmarq secured the loan through Voya Investment Management on behalf of the borrower, Arc Capital Partners. Originally opened in 1928, Chapman Market is home to a mix of tenants including Club HUE, Quarters Korean BBQ, Starbucks, Origin Korean BBQ, Shibuyala, Toebang Café, Escala Ktown, Danbi, Tiger Sugar Boba, BHC Chicken, Kazunori: The Original Handroll Bar and Uncle Tetsu.

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