Wednesday, September 16, 2026
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DevelopmentFloridaHealthcareSoutheast

St. Joe Co., Tallahassee Memorial Open First Building at 87-Acre Healthcare Campus in Panama City Beach, Florida

by John Nelson

PANAMA CITY BEACH, FLA. — The St. Joe Co. and Tallahassee Memorial HealthCare (TMH) have opened the first building at the FSU/TMH Medical Campus, an 87-acre campus currently in Panama City Beach underway by the companies and Florida State University (FSU). Situated at 1002 N. Arnold Road, the medical office building is one of several planned at the development. TMH Urgent Care and TMH Physician Partners – Primary Care are now open at the property. The campus, which will include a 100-bed hospital with an emergency center and other inpatient services, is scheduled for completion in 2027.

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AcquisitionsAlabamaMultifamilySoutheast

DWG Capital Partners, Dorado Holdings Purchase 96-Unit Greenbriar Apartments in Montgomery, Alabama

by John Nelson

MONTGOMERY, ALA. — DWG Capital Partners and Dorado Holdings have purchased Greenbriar Apartments, a 96-unit multifamily community in Montgomery. Located at 4604 Virginia Loop Road, the property features 13 two-story buildings situated on 5.4 acres. Insight Management Group sold the community for an undisclosed price. Jonny Easterling of Wiley Real Estate Group represented the seller in the transaction.

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LoansMultifamilyNortheastPennsylvaniaStudent HousingTop StoriesWalker & Dunlop

Walker & Dunlop Provides $285.5M Refinancing for Two Student Housing Properties at Temple University in Philadelphia

by Kristin Harlow

PHILADELPHIA — Walker & Dunlop Inc. has provided a $285.5 million loan for the refinancing of Vantage and The View at Montgomery, two student housing properties located on Temple University’s campus in Philadelphia. The Class A communities total 1,816 beds. Completed in 2019, Vantage rises 19 stories with 368 units. The property features more than 30,000 square feet of amenity space, retail offerings and floor plans ranging from studios to four bedrooms. Opened in 2014, The View at Montgomery includes 238 units and is located in the center of Temple University’s main campus. The 14-story building features studios through four-bedroom layouts. The Goldenberg Group acquired the site for Vantage and The View at Montgomery in 2008 as part of a multi-phase student housing project to bring much-needed rental product to Temple University. Walker & Dunlop’s multifamily finance and capital markets teams originated the seven-year, fixed-rate loans through Freddie Mac on behalf of The Goldenberg Group. Additionally, Walker & Dunlop Investment Partners (WDIP) provided a preferred equity investment as part of the refinancings. “In the face of macro headwinds stemming from the financial crisis, the COVID pandemic and nationwide enrollment pressure, the student housing sector has proven its resiliency time and …

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Market ReportsOfficeSoutheastSoutheast Market ReportsTennessee

Memphis Office Market Holds Steady Amid Post-Pandemic Headwinds

by John Nelson

The Memphis office market continues to defy national post-pandemic office trends, fueled by persistent occupier demand and limited amounts of vacancy within primary submarkets. Although, the market closed out the 2023 year with 34,430 square feet of occupancy losses caused by two large tenant vacancies, the first quarter of 2024 reversed the trend as net absorption swung positive, recording 140,788 square feet of occupancy gains.  The Memphis unemployment rate remained low at 3.5 percent in May, just above the Tennessee unemployment rate of 3.0 percent and below the national average of 4.0 percent, according to data from the U.S. Bureau of Labor Statistics.  Ford Motor Company’s Blue Oval City began its hiring in 2023, with most of its hiring to occur in the second half of this year, which could begin to further compress the unemployment rate, as approximately 5,600 direct jobs are estimated to be created in West Tennessee. The company leased 42,910 square feet of office space on the edge of the Memphis office market. The auto giant plans to use the new space as a training facility.  Additionally, the Elon Musk-led xAI company announced Memphis as being the new home for its “Gigafactory of Compute,” claiming to …

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DevelopmentGeorgiaHospitalityLoansSoutheast

LCP Group Provides Construction Financing for 183-Room Moxy-Branded Hotel in Downtown Atlanta

by John Nelson

ATLANTA — The LCP Group has provided an undisclosed amount of construction financing for the development of Moxy Centennial Olympic Park, a 183-room hotel in Atlanta’s downtown entertainment district. The developer is a partnership between Atlanta-based Nexera Capital and Emerge Hospitality Group. Upon completion, the property will feature 13 stories, with a rooftop restaurant and lounge, lobby bar and ground-level retail space. The hotel’s opening is scheduled for the second quarter of 2026. Nearby attractions include the Georgia Aquarium, World of Coca-Cola, State Farm Arena and the Mercedes-Benz Stadium, the home arena of the Atlanta Falcons and Atlanta United.

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DevelopmentFloridaMultifamilySoutheast

Alliance Residential Opens 300-Unit Prose Horizons Village Apartment Community in Central Florida

by John Nelson

WINTER GARDEN, FLA. — Multifamily developer Alliance Residential Co. has opened Prose Horizons Village, a 300-unit apartment community located at 16810 Easthampstead Road in Winter Garden, approximately 16 miles northwest of Orlando. The property features one- and two-bedroom residences averaging 1,008 square feet in size. Amenities at the community include a clubroom, business center, package locker system, pool, fitness center and a pet park. The developer also recently opened Prose Cypress Pointe in nearby Winter Haven, Fla.

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AcquisitionsArkansasRetailSoutheast

Marcus & Millichap Brokers $7.1M Sale of Northpark Shopping Center in Monticello, Arkansas

by John Nelson

MONTICELLO, ARK. — Marcus & Millichap has brokered the $7.1 million sale of Northpark Shopping Center, a 71,068-square-foot retail center located at 120-155 Northpark Drive in Monticello, about 90 miles south of Little Rock. Tenants at the property, which was 95 percent occupied at the time of sale, include Cato, Hibbett Sports, It’s Fashion Metro, Pizza Hut and Rent-A-Center. Eric Abbott and Zach Taylor of Marcus & Millichap represented the seller, Timber Development, in the transaction. A DST (Delaware Statutory Trust) fund based in California acquired the property. “Investor appetite for secondary market shopping center inventory remains robust,” says Abbott. “The buyer was drawn to the dominant nature and regional trade area of the Walmart, with no major competing shopping centers in the area.”

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IndustrialLeasing ActivityNorth CarolinaSoutheast

CBRE Arranges Five Industrial Leases at 42 West Business Park in Metro Raleigh

by John Nelson

CLAYTON, N.C. — CBRE has arranged five new leases at 42 West Business Park, a newly developed flex/light industrial property in Clayton, 17 miles outside downtown Raleigh. Delivered at the end of 2023, the development comprises two warehouses totaling 125,000 square feet. Habitat for Humanity of Wake County will occupy the entirety of Building 1, which totals 25,000 square feet. Together, the tenants will occupy 65,787 square feet, bringing the property to over 50 percent occupancy. Austin Nagy and John Hogan of CBRE represented the landlord, Charlotte-based Pace Commercial, in the lease negotiations.

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Affordable HousingDistrict of ColumbiaMultifamilySoutheast

Multifamily Industry Says Biden’s Proposed Rent Cap Would Punish Tenants

by John Nelson

WASHINGTON, D.C. — The Biden administration has called on Congress to pass rent-control legislation that would affect more than 20 million rental homes across the country. Under the proposed rule, landlords with more than 50 units in their portfolios would forfeit federal tax breaks if they raise rents annually more than 5 percent on their existing units. If passed, this rule would be in force beginning this year and would last through 2026. The plan would include an exception for new construction and for units currently undergoing substantial renovation or rehabilitation. Failing to hit the 5 percent cap, owners would lose out on what’s known as “faster deprecation” write-offs. According to Investopedia, property owners can deduct market value loss and the costs of buying and improving a property from their taxes. Most multifamily industry leaders are against rent control for several reasons but chiefly because they say such measures reduce the incentive to build more housing or to renovate and improve existing properties. Ahead of the White House’s announcement, which was released this morning, numerous public policy groups spoke out against the proposal. “This legislative proposal will not create a single new unit while raising costs on the very residents …

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Walmart-Lancaster
DevelopmentIndustrialTexas

Walmart Opens 730,000 SF Food Processing Facility in Lancaster, Texas

by Taylor Williams

LANCASTER, TEXAS — Walmart (NYSE: WMT) has opened a 730,000-square-foot food processing facility in Lancaster, a southern suburb of Dallas. About 500 people are expected to work at the facility, which will be used to receive and process produce, eggs, dairy products, flowers and frozen goods for delivery to nearby Walmart stores. The Arkansas-based discount retail giant, which also opened a fulfillment center in Lancaster in 2023, operates about 590 retail units in Texas and employs some 176,000 people throughout the state.

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