Wednesday, November 11, 2026
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DevelopmentSeniors HousingSoutheastVirginia

LifeSpire Plans $80M Expansion of Seniors Housing Campus in Lynchburg, Virginia

by John Nelson

LYNCHBURG, VA. — LifeSpire of Virginia has announced plans for an $80 million expansion of The Summit, a continuing care retirement community in Lynchburg, about 55 miles east of Roanoke, Va. Although the number of units was not disclosed, the company says the project will “create dozens of new residences” via 18 cottage homes and multiple villa options, as well as a new memory care neighborhood. The nonprofit LifeSpire of Virginia, which acquired The Summit in late 2021, plans to complete the expansion over the next 24 months. The Summit sits on a 125-acre campus, which comprises scenic trails; a 10-acre lake for fishing, kayaking and canoeing; and forested areas.

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Build-to-RentLoansMultifamilySingle-Family RentalSouth CarolinaSoutheast

Northmarq Secures $32M Refinancing for Build-to-Rent Residential Community in Coastal South Carolina

by John Nelson

OKATIE, S.C. — Northmarq has secured a $32 million bridge loan for the refinancing of Saddlewood at Pepper Hall, a 121-unit build-to-rent (BTR) residential community in Okatie, a city 11 miles west of Hilton Head Island. The borrowers, RP Communities and Argosy Real Estate Partners, delivered the BTR property last year within the Pepper Hall master-planned development. Grant Harris, David Vinson and Faron Thompson of Northmarq arranged the five-year loan on behalf of the borrowers through Atlanta-based ACRE. Saddlewood at Pepper Hall features one-, two- and three-bedroom townhomes and carriage homes with private porches and detached garages. Amenities include a pool, dog park, green spaces and a clubhouse with a fitness center. Additionally, the site will feature a planned state waterfront park that will include a kayak launch and walking trails.

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AcquisitionsFloridaRetailSoutheast

Colliers Arranges $23M Sale of Tampa Bay Store Leased to The Home Depot

by John Nelson

CLEARWATER, FLA. — Colliers has arranged the $23 million sale of a 111,694-square-foot retail property in the Tampa Bay area. Located at 2495 Gulf to Bay Blvd. in Clearwater, the store has been leased to The Home Depot for the past 25 years, and the home improvement retailer has several years remaining on its current lease term. Eric Carlton and Jereme Snyder of Colliers represented the seller, a private institutional investor, in the transaction. The buyer was an undisclosed individual investor.

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AcquisitionsLouisianaMultifamilySoutheast

Reynolds, Slabotsky Family Office Acquire Riverside Oaks Apartments in Shreveport, Louisiana for $9.5M

by John Nelson

SHREVEPORT, LA. — A partnership between Reynolds Asset Management and Slabotsky Family Office has purchased Riverside Oaks Apartments, a 185-unit community located at 109 Southfield Road in Shreveport. The undisclosed seller sold the property to the partnership for $9.5 million. John Hamilton of Marcus & Millichap brokered the transaction, with Tom Didio, Max Custer and Michael Mataras of JLL procuring acquisition financing. Built in 1972, Riverside Oaks features one-, two- and three-bedroom floor plans, as well as a swimming pool, playground, laundry facilities, bicycle storage, picnic area and a dog park. Reynolds and Slabotsky are planning to invest $4 million to overhaul Riverside Oaks, including installing new roofs, driveways, site lighting, landscaping and fencing, as well as upgrading the pool and dog park, improving security features and renovating interiors. Renovations are anticipated to begin immediately and continue over the next two years.

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AcquisitionsIllinoisIowaMidwestMissouriMultifamilySeniors Housing

Arrow Senior Living Acquires Eight Communities in Midwest Region

by Kristin Harlow

ILLINOIS, IOWA, MISSOURI AND ARKANSAS — St. Charles, Mo.-based Arrow Senior Living has acquired eight seniors housing communities across Illinois, Iowa, Missouri and Arkansas. Acquired in June, CedarStone Senior Living and PrairieStone Senior Living, both located in Cedar Falls, Iowa, were developed by Nelson Construction and Development. CedarStone consists of 120 units, including 88 assisted living apartments and 32 memory care residences. PrairieStone consists of 111 units, including 79 assisted living apartments and 32 memory care residences. Arrow also acquired six independent living communities in partnership with Welltower in early July, adding 654 units to its portfolio. The Cambridge Senior Living in Springfield, Mo., features 115 units. The Gardens at Arkanshire in Springdale, Ark., consists of 80 units. The Montvale Senior Living in Springfield, Ill., features 121 apartments. Curtis Creek Senior Living in Quincy, Ill., totals 120 units. Lastly, Mallard Point Senior Living in Cedar Falls, Iowa, features 114 units, while Walden Place Senior Living in Iowa City totals 104 units.

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AcquisitionsMidwestMultifamilyWisconsin

Marcus & Millichap Arranges $5.7M Sale of Multifamily Property in Thiensville, Wisconsin

by Kristin Harlow

THIENSVILLE, WIS. — Marcus & Millichap has arranged the $5.7 million sale of Grand Avenue Apartments in Thiensville, a northern suburb of Milwaukee. The 47-unit multifamily property is situated on nearly four acres on Grand Avenue. The original building was constructed as a school in 1920 and totals 18,668 square feet. The rear building was constructed in 1986 and totals 34,560 square feet. The complex offers a mix of one- and two-bedroom units, many of which are townhome style. Blake Hanlon and Mark Peltin of Marcus & Millichap represented the seller, a family office, and procured the buyer, a local real estate investor.

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Leasing ActivityMidwestMinnesotaOffice

The Social Lights Signs 11,000 SF Office Lease at Steelman Exchange in Minneapolis

by Kristin Harlow

MINNEAPOLIS — The Social Lights, a marketing agency, has signed an 11,000-square-foot office lease at Steelman Exchange in the North Loop of Minneapolis. Tom Tracy, Katie Tufford and Harrison Rust of Cushman & Wakefield represented ownership, while CBRE’s John Lorence represented the tenant. Studio BV is the designer for the tenant’s new workspace. Located at 241 N. Fifth Ave., Steelman Exchange is a newly constructed creative office property that totals 220,000 square feet and features a tenant lounge with rooftop space, fitness center and podium parking garage. The Social Lights joins other tenants Grant Thornton, Calabrio and a global financial institution at the building, which has 75,000 square feet available for lease.

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AcquisitionsMichiganMidwestRetail

Dominion Negotiates Sale of Retail Redevelopment Site in Shelby Township, Michigan

by Kristin Harlow

SHELBY TOWNSHIP, MICH. — Dominion Real Estate Advisors LLC has negotiated the sale of a 0.78-acre retail development site located at 56166 Van Dyke Road in Shelby Township for an undisclosed price. Andrew Boncore of Dominion represented the seller. Steven Murphy of Century 21 Campbell Realty represented the buyer, a local business owner who plans on redeveloping the site into a retail center to expand his existing business.

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DevelopmentLoansMixed-UseTexas

Rastegar Property Co. Unveils Plans for 318-Acre Master-Planned Development in Kyle, Texas

by Taylor Williams

KYLE, TEXAS — Locally based developer Rastegar Property Co. has unveiled plans for Inf1nity Square, a 318-acre master-planned development that will be located in the southern Austin suburb of Kyle. The development will feature roughly 1,000 single-family homes and 1,400 multifamily units as well as 185,000 square feet of commercial space. The commercial component will include retail space, an amenity center and an elementary school, all centered around a town square. In addition, Inf1nity Square will feature 61 acres of open green space that will connect to The Vybe, Kyle’s citywide trail network. CastleRock Communities and Brightland Homes will lead the development of first phase of single-family home development. Trez Capital has provided $31.7 million in construction financing for that phase of the project, which will encompass 329 lots.

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