WESTFIELD, IND. — Thompson Thrift has unveiled plans to develop Revere, a 350-unit luxury apartment community in the Indianapolis suburb of Westfield. The company expects to welcome the first residents in February 2027. Units will come in one-, two- and three-bedroom configurations averaging 1,000 square feet. The residences will be spread across six buildings, including four three-story, garden-style buildings and two four-story, elevator-serviced buildings. Amenities will include a fitness center, social hub, heated pool, firepits, grilling areas, a dog park, pet spa, business center and conference room. Adjacent to the project site is IMMI, an advanced safety systems company that employs nearly 700 people at its Westfield office. Planned future retail will also be situated next to the apartment community.
WALKER, MICH. — Mid-America Real Estate Corp. has brokered the sale of Green Ridge Square, a 225,307-square-foot shopping center in Walker, a northwest suburb of Grand Rapids. Shadow anchored by Target, the property is home to Best Buy, Burlington, Michaels, Urban Air, Five Below, Panera and Shoe Dept. Ben Wineman and Daniel Stern of Mid-America represented the seller, Birmingham, Mich.-based Bacall Cos. Seattle-based Bridge33 Capital was the buyer.
METAIRIE, LA. — The Feil Organization has signed Navy Federal Credit Union to a 3,300-square-foot retail lease at 3506. N. Causeway Blvd. in Metairie, about eight miles northwest of New Orleans. The new retail bank branch will sit adjacent to Causeway Plaza, an office building owned by Feil. Kirsten Early of SRSA Commercial Real Estate represented the tenant in the 10-year lease deal. Colette Wharton and Katina Spera represented Feil on an internal basis. Feil expects construction on the Navy Federal Credit Union branch to finish in fall 2026.
NORTH RIVERSIDE, ILL. — Five new retailers have signed leases to open at North Riverside Park Mall in the Chicago suburb of North Riverside. The Feil Organization owns the 1.2 million-square-foot shopping center. The leases, which include Canada Weather Gear, Lovisa Jewelry & Accessories, Boneyard Chicago, FLX Move Pilates and Hello Sweetie, bring the property to 96 percent occupancy. Most of the tenants are now open. Feil acquired the mall in 2004 and completed an $8 million capital improvement plan in November 2024.
MUNDELEIN, ILL. — Entre Commercial Realty has negotiated a 30,000-square-foot industrial lease at 1700 Butterfield Road in Mundelein. Elite Baseball Training has leased the facility to expand its operations and will utilize the space for sports training and development. The tenant secured a variance from the Village of Mundelein to allow for athletic use and additional parking. The property features 2,300 square feet of office space, a clear height of 20 feet, two interior docks and one drive-in door. Brian Bocci of Entre Commercial represented the tenant, while Steve Sullivan of NAI Hiffman represented the landlord, Red Tail Commercial.
DALLAS — Lincoln Property Co., a Dallas-based global real estate services firm, has acquired Capstone Development Partners, a student housing developer with offices in Birmingham, Ala., and Denver. Lincoln’s acquisition includes Capstone’s management affiliate, Capstone Management Partners. Financial terms of the acquisition were not disclosed. Capstone will continue to operate as Capstone Development Partners, powered by Lincoln. The developer came in at No. 15 in the Top Developers ranking by Student Housing Business. Capstone disclosed in the first quarter that it had seven projects planned through 2028 totaling 5,900 beds. The acquisition expands Lincoln’s higher education infrastructure and enhances its development, financing and operation of on-campus and university-affiliated housing. “Capstone has long been a recognized leader in student housing and campus facilities development,” says Alison Daubert, chief strategy officer at Lincoln. “Their specialized expertise complements Lincoln’s national platform with robust resources, allowing us to better support higher education institutions with even greater experience and expertise.” Capstone says that the move gives the company access to Lincoln’s national resources and operational expertise. “With Lincoln’s support and comprehensive real estate capabilities, we are more capable than ever to assist universities in creating innovative, customized development and operational solutions that align seamlessly with their …
By Taylor Williams Although the Dallas-Fort Worth (DFW) industrial market is, objectively speaking, currently overbuilt, the recovery and return to healthy dynamics is already taking shape. As that unfolds, manufacturing facilities are having a moment. According to CBRE’s research, between 2021 and 2023 — the height of the post-COVID e-commerce craze that coincided with the last days of historically low interest rates — developers in DFW added nearly 130 million square feet of new industrial product. The supply boom mostly involved warehouse and distribution facilities, and absorption of new deliveries was coming along until this spring, when Liberation Day injected a staggering dose of economic uncertainty into the market. In recent weeks, leasing activity has begun to pick back up. But investors looking to deploy capital into industrial assets see more upside on deals for manufacturing facilities at the moment, whether that means buying existing plants with heavy built-in power sources or targeting distribution buildings that can support manufacturing through light conversions. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. At the annual DFW/North Central Texas Industrial conference that …
Build-to-RentContent PartnerFeaturesIndustrialLoansMidwestMultifamilyNortheastRetailSelf-StorageSoutheastTexasWestern
Capital Returns as 2025 Signals a Market Reset
By Patrick McGlohn, senior managing director, Berkadia After two years of caution and recalibration, capital is flowing back into commercial real estate. The bid-ask gap between buyers and sellers is narrowing, underwriting assumptions are stabilizing and both equity and debt investors are once again finding common ground. At Berkadia, we’re seeing equity move from the sidelines to the playing field, selectively, but decisively. Equity’s Comeback: Selective, but Strong Private equity and institutional investors are increasingly re-entering the market, with activity strongest in the “Smile States,” stretching from Northern Virginia to the western states and extending into major cities like Chicago. Much of the capital is chasing value-add and opportunistic plays rather than core, stabilized assets. Over the past couple of years, many equity investors would only touch preferred equity because of valuation uncertainty, but now we’re seeing common equity return in a meaningful way. The change reflects both greater pricing clarity and a collective sense that the bottom of the market cycle has passed. Navigating the Wall of Maturities The looming wall of debt maturities remains a defining storyline for 2025 and beyond. Nearly $950 billion in commercial mortgages matured in 2025 — roughly 20 percent of all outstanding commercial …
HOUSTON — A partnership between Hanover Industrial, a division of Houston-based owner-operator Hanover, and Chicago-based Pearlmark has broken ground on Ella 45, a 254,000-square-foot project in North Houston. Located just west of I-45, the 19-acre development will feature 36-foot clear heights and a front-load configuration. Powers Brown is the project architect, and Kimley-Horn is the civil engineer. CBRE is the leasing agent. Construction is expected to be complete in the second quarter of 2026.
ARLINGTON, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Cooper Park Apartments, a 180-unit multifamily complex in Arlington. The property was built on 13 acres in 1979. According to Apartments.com, Cooper Park offers one- and two-bedroom units that range in size from 700 to 1,040 square feet. Amenities include a pool, onsite laundry facilities and a dog park. William Hubbard, Taylor Hill, Michael Ware, Drew Kile and Joey Tumminello of IPA represented the seller, Bridwell Capital, in the transaction and procured the buyer, Endurance Capital.