Property Type

Rancho-Ortego-Plaza-San-Juan-Capistrano-CA

Hanley Investment Group Brokers $9.2M Sale of Starbucks-Anchored Retail Strip Center in Southern California

by Amy Works October 31, 2025

SAN JUAN CAPISTRANO, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $9.2 million sale of Rancho Ortega Plaza, a 23,122-square-foot retail strip center located in San Juan Capistrano, roughly 55 miles south of Los Angeles. Starbucks Coffee anchors the two-story property, which was 89 percent leased at the time of sale. Other tenants include Tannins Wine Bar & Restaurant, Bella Nails and Ortega Dental Care. Rancho Ortega Plaza was built in 2004 on 2.2 acres. Kevin Fryman and Ed Hanley of Hanley Investment Group represented the seller, an Orange County, Calif.-based private investor. Michael Asarch of Asarch Commercial Endeavors represented the buyer, a Los Angeles-based private investor, in the transaction.

October 31, 2025

Data Centers Development Industrial Michigan Midwest

OpenAI Plans to Build Data Center Near Ann Arbor, Invest $450B Over Next Three Years

by Kristin Harlow October 31, 2025

SALINE TOWNSHIP, MICH. — OpenAI, the creator of ChatGPT, has unveiled plans to build a new Stargate campus in Saline Township near Ann Arbor as part of its 4.5-gigawatt partnership with Oracle. Combined with capacity from OpenAI’s six previously announced U.S. Stargate sites with Oracle and SoftBank, this project brings Stargate to more than 8 gigawatts of planned capacity and more than $450 billion in investment over the next three years. In January, the company announced a $500 billion, 10-gigawatt commitment. Related Digital is developing the Stargate Michigan campus. Construction is expected to begin in early 2026 and create more than 2,500 union construction jobs. DTE Energy will serve the campus using existing excess transmission capacity, avoiding impacts on local energy supply. OpenAI says that any upgrades required to support operations will be funded by the project and not local ratepayers. The project will span 1.6 million square feet across three buildings, according to Crain’s Detroit Busienss. OpenAI has previously announced Stargate sites in Texas, New Mexico, Wisconsin and Ohio.

October 31, 2025

Affordable Housing Development Midwest Missouri Multifamily Seniors Housing

Twelfth Street Heritage, Flaherty & Collins Break Ground on $300M Redevelopment of Kansas City’s Parade Park Homes

by Kristin Harlow October 31, 2025

KANSAS CITY, MO. — Twelfth Street Heritage Development Corp. and Flaherty & Collins Properties have broken ground on the $300 million redevelopment of Parade Park Homes, one of the country’s oldest Black-owned housing cooperatives that is located in Kansas City. Plans call for nearly 1,100 multifamily units, 200 of which will be reserved for low-income families and 80 for seniors housing. Additionally, the project will include 27 acres of open green space and 15,000 square feet of community-centered commercial space. Block & Co. Inc. Realtors will serve as the exclusive retail broker for the project. The restoration will include three phases, with Phase I projected to be finished by 2027. The project marks the largest development in East Kansas City’s history, according to Block & Co.

October 31, 2025

Development Illinois Industrial Midwest

Mapletree Begins Development of Two Industrial Facilities in Metro Chicago Totaling 461,406 SF

by Kristin Harlow October 31, 2025

BARTLETT AND JOLIET, ILL. — Mapletree Investments has broken ground on two industrial facilities in metro Chicago. The projects are located at 1360 Schiferl Road in Bartlett and 3600 Houbolt Road (formerly 23551 Vetter Road) in Joliet. Completion is slated for summer 2026. The Bartlett Commerce Center will total 149,100 square feet within the Brewster Creek Business Park. It will be located on an 8.2-acre parcel adjacent to Mapletree’s existing 400,000-square-foot warehouse. Plans call for a clear height of 36 feet, 42 dock doors, two drive-in doors and 181 car parking spaces. Morgan/Harbour Construction is the general contractor. Ryan O’Leary, Jonathan Postweiler and Jeff Fischer of KBC Advisors are overseeing leasing. Situated along the I-80 and I-55 interchange, the 18.1-acre project in Joliet provides direct connectivity to the Joliet Intermodal Center. Upon delivery, the 312,306-square-foot warehouse will meet LEED Silver standards and include a clear height of 40 feet, 59 dock doors, 76 trailer stalls and 204 parking stalls. Keeley Construction is the general contractor. Sean Henrick and Jason West of Cushman & Wakefield are overseeing leasing efforts.

October 31, 2025

Acquisitions Illinois Midwest Multifamily

Interra Realty Brokers Sale of 95-Unit Apartment Complex in Chicago’s Lakeview Neighborhood

by Kristin Harlow October 31, 2025

CHICAGO — Interra Realty has brokered the sale of Low-Line Commons, a 95-unit apartment complex in Chicago’s Lakeview neighborhood. Joe Smazal and Mark Dykstra of Interra represented the seller, a joint venture between Wildwood Investments and Contemporary Concepts, and the buyer, Highland Real Estate Partners. The building was 98 percent leased at the time of sale. Constructed in 2024, the property features amenities such as a lounge, coworking space, fitness center, storage lockers, a pickleball court and rooftop deck. Located on North Ashland Avenue, the asset features studio, one-, two- and three-bedroom units.

October 31, 2025

Acquisitions Midwest Multifamily Ohio

Marcus & Millichap Negotiates $2.9M Sale of Multifamily Property in Paulding, Ohio

by Kristin Harlow October 31, 2025

PAULDING, OHIO — Marcus & Millichap has negotiated the $2.9 million sale of Whispering Pines, a 48-unit multifamily property in Paulding, about 64 miles southwest of Toledo. All but one of the units are two-bedroom floor plans. The property also includes 67 self-storage units. Teddy Kenny, Aaron Kuroiwa and Austin Meeker of Marcus & Millichap represented the seller, Covington Properties LLC, and procured the buyer, Colarusso Properties LLC. The buyer plans to implement professional third-party property management and complete a value-add strategy by renovating unit interiors and improving operations at the property, which was built in 1989.

October 31, 2025

Affordable Housing Development Loans North Carolina Southeast

Annex Group to Develop $57M Affordable Housing Development in Charlotte

by Abby Cox October 31, 2025

CHARLOTTE, N.C. — The Annex Group has announced plans to develop a $57 million affordable housing community located at 5709 N. Tryon St. in Charlotte. Dubbed Central at Old Concord, the new community will be situated on 3.5 acres and will offer 200 apartments ranging in size from one- to three-bedroom floorplans. The apartments will be reserved for residents earning up to 70 percent of the area median income (AMI). Planned amenities for the five-story building will include a community room, playground, exercise room and a grilling area. Construction for Central at Old Concord is underway, with completion anticipated for summer 2027. Bank of America provided a $39 million construction loan and $23 million in federal equity for the project, while Stifel Public Finance underwrote $28.4 million in bonds provided by Inlivian, the City of Charlotte’s housing authority. The North Carolina Housing Finance Agency (NCHFA) allocated 4 percent tax credits and tax-exempt bonds, while the City of Charlotte provided more than $4 million in Housing Trust Funding (HTF). An additional $22 million in permanent financing was also provided. Partners on the project include Cline Design, McAdams, Shelter Investment Group, ECS Southeast LLP, August Mack Environmental, Capital Consultants, Drucker + Falk, DELCK Group LLC and Impact Housing Indiana Corp. Annex Group is also under construction on Union …

October 31, 2025

Florida Loans Multifamily Southeast

Newmark Secures $139M in Financing for Savio Luxury Apartment Community in Delray Beach, Florida

by Abby Cox October 31, 2025

DELRAY BEACH, FLA. — Newmark has secured a $139 million loan for the refinancing of Savio, a new, 420-unit luxury apartment community in Delray Beach, approximately eight miles north of Boca Raton. Jordan Roeschlaub, Nick Scribani, Daniel Matz, Max Ralby, Ricky Braha and Sam Speciale of Newmark arranged the financing through CIBC USA on behalf of the borrowers, 13th Floor Investments, Key International, Wexford Real Estate Investors and CDS International Holdings. Completed between 2024 and 2025, Savio offers a mix of townhomes and studio apartments, as well as one-, two- and three-bedroom layouts. Units range in size from 558 to 1,670 square feet, according to Apartments.com. Rental rates begin at $2,124. Amenities include a resort-style swimming pool and sundeck, a central park, clubhouse lounge, two-story fitness center with yoga and spin studios, coworking spaces and children’s indoor and outdoor play areas, as well as a walking trail.

October 31, 2025

Development Multifamily North Carolina Southeast

Dwight Mortgage Trust Provides $42.5M Construction Loan for New Build-to-Rent Community in Asheville

by Abby Cox October 31, 2025

ASHEVILLE, N.C. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $42.5 million construction loan for Old Charlotte Townhomes, a 133-unit build-to-rent (BTR) community in Asheville. Loan proceeds will fund land development, construction costs, community amenities and transaction expenses for the borrower, Golden Hour Collective. Old Charlotte Townhomes will comprise 119 three-bedroom and 14 four-bedroom residences averaging 1,836 square feet in size. Additionally, each unit will feature an attached garage. Community amenities will include a leasing office, clubhouse and a swimming pool, along with scenic views of the Blue Ridge Mountains. The project will be developed on 17 acres within a larger master-planned development that also features for-sale homes and a multifamily component.

October 31, 2025

Loans Multifamily North Carolina Southeast

BWE Arranges $37.8M in Acquisition Financing for Apartment Community in Metro Charlotte

by Abby Cox October 31, 2025

KANNAPOLIS, N.C. — BWE has arranged $37.8 million in acquisition financing for Graces Reserve, a 240-unit, garden-style apartment community located in Kannapolis, a suburb of Charlotte. Maxx Carney, Dan Rosenberg, Logan Petersmeyer and James Rogers of BWE originated the five-year loan through a life insurance company on behalf of Guardian Capital, a Chicago-based residential real estate owner and operator, and its partner, New York Life Real Estate Investors. In addition to acquiring the property, Guardian plans to execute a value-add strategy that will optimize the property’s performance. Built in 2021, Graces Reserve offers one-, two- and three-bedroom floorplans ranging in size from 785 to 1,060 square feet, according to Apartments.com. Amenities at the complex include a saltwater swimming pool, electric vehicle charging stations, parcel lockers, a package management system, fitness center and a pet park.

October 31, 2025

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