Thursday, November 12, 2026
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The-Falls-at-Canyon-Rim-South-Ogden-UT
AcquisitionsMultifamilyUtahWestern

TruAmerica Buys 288-Unit The Falls at Canyon Rim Apartments in South Ogden, Utah

by Amy Works

SOUTH OGDEN, UTAH — Los Angeles-based TruAmerica Multifamily has purchased The Falls at Canyon Rim, an apartment property in South Ogden, approximately 25 miles north of Salt Lake City. Terms of the transaction were not released. The Falls at Canyon Rim offers 288 one-, two- and three-bedroom apartments averaging nearly 1,200 square feet. Community amenities include a swimming pool, year-round hot tub, 24-hour fitness center, barbecue grills, two playgrounds, basketball courts, tennis courts, recreation rooms and a dog park. Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller in the deal.

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CaliforniaDevelopmentLoansRetailWestern

Keystone Mortgage Arranges $16.2M Bridge Loan for Retail Repositioning Project in Palm Desert, California

by Amy Works

PALM DESERT, CALIF. — Keystone Mortgage Corp. has arranged a $16.2 million bridge loan to fund the repositioning of retail center in the Coachella Valley city of Palm Desert. Situated on 8.2 acres, the 80,072-square-foot retail property is 97 percent occupied by 14 tenants, including Grocery Outlet and Ross Dress for Less. Tim Winton of Keystone secured the financing on behalf of the borrower, a private real estate investor. One of Keystone’s correspondent life company lenders provided the 36-month, high-leverage, non-recourse loan. The loan will allow the borrower to complete the remainder of property upgrades while providing maximum leverage, interest-only payments, fixed rate and prepayment flexibility, according to Winton.

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DevelopmentMichiganMidwestMultifamily

Thompson Thrift Completes 344-Unit Apartment Community in Suburban Grand Rapids

by Kristin Harlow

WYOMING, MICH. — Thompson Thrift has completed The BLVD at Wilson Crossings, a 344-unit apartment community in the Grand Rapids suburb of Wyoming. The property, which is 45 percent leased, offers townhome-style units with up to four bedrooms. Amenities include a clubhouse, fitness center, pool, pickleball courts, turf game lawn and dog park. The project marks the third Michigan development for Indianapolis-based Thompson Thrift.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $9.3M Sale of Multifamily Portfolio on Chicago’s South Side

by Kristin Harlow

CHICAGO — Interra Realty has brokered the sale of a three-building, 114-unit multifamily portfolio on Chicago’s South Side for $9.3 million. Two buildings, 7131 S. Bennett Ave. and 1949 E. 73rd Ave., are located in the South Shore neighborhood, while the third property, 6600 S. Ingleside Ave., is in the Woodlawn neighborhood. Lucas Fryman of Interra represented the buyer and seller, both based in Brooklyn, N.Y. The purchaser assumed the asset’s existing mortgage, which carries a 3.29 percent interest rate that matures at the end of 2032. Built in the early 1920s, the properties were 95 percent occupied at the time of sale. All three buildings have undergone capital improvements in recent years to include upgraded exteriors, building systems and unit interiors. The new ownership plans to continue the modernization with new appliances, fixtures and paint.

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IllinoisLeasing ActivityMidwestRetail

Reform Studios to Open 4,000 SF Pilates Studio at Optima Signature in Downtown Chicago

by Kristin Harlow

CHICAGO — Reform Studios is scheduled to open a 4,000-square-foot Pilates studio on Saturday, June 22 in downtown Chicago. The studio will occupy ground-floor retail space of Optima Signature, a 57-story luxury apartment tower developed by Optima Inc. in 2017. Additional commercial tenants at the property include Guidepost Montessori School, Egg Harbor Café, Bedazzled and GoodVets Streeterville. Founded by local resident Jennifer Villamil, Reform Studios is the only studio in Chicagoland to offer Reform RX machines, the world’s first commercial-grade smart Pilates reformer. Equipped with high-definition touchscreen displays and a library of on-demand classes, the machines can precisely track users’ movements and present real-time data on calories burned, heart rate and power output as well as post-session workout summaries.

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DevelopmentIllinoisMidwestRestaurantRetail

Principle Construction Completes Bakery Build-out in Lake Zurich, Illinois

by Kristin Harlow

LAKE ZURICH, ILL. — Principle Construction has completed a bakery build-out for Apres Pastry & Bakery in downtown Lake Zurich, a northwest suburb of Chicago. The tenant occupies the last remaining space within the building that Principle constructed in 2023. Principle added a new common entrance and pedestrian access corridor from the rear parking lot. The project included various mechanical, electrical, fire protection and plumbing systems as well as the installation of a walk-in freezer. Muran Architects served as the project architect, while Siren Betty designed the interior.

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Leasing ActivityMidwestOfficeSouth Dakota

ISG Opens Third South Dakota Office in Dakota Dunes

by Kristin Harlow

DAKOTA DUNES, S.D. — Architecture, engineering, environmental and planning firm ISG has opened a new office in Dakota Dunes within southeast South Dakota. Months after establishing a presence in Pierre, ISG says the expansion enhances its ability to serve communities across the state and the broader Siouxland region encompassing Iowa and Nebraska. ISG is currently engaged in several projects and partnerships in Dakota Dunes while the local team enhances the firm’s expertise in refrigeration and industrial food. A ribbon cutting and open house for the new office will take place Thursday, Aug. 22. ISG maintains offices in Iowa, Minnesota, Wisconsin, South Dakota and Arkansas.

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FloridaIndustrialMarket ReportsSoutheastSoutheast Market Reports

Moderating Industrial Growth Can’t Stop Miami’s Enduring Appeal

by John Nelson

By Ben Eisenberg of Transwestern In 2023 and continuing into 2024, Miami’s industrial sector experienced moderate growth due to reduced lease turnover and despite accelerating interest rates and economic uncertainty. However, the market’s strong industrial fundamentals and international connectivity via Miami International Airport and PortMiami continue to demonstrate its enduring strength and resilience.  Miami’s industrial market is powered by freight, logistics and e-commerce demand, along with traditional distribution, service and light assembly. The region continues to experience steady population growth that drives sustainable consumption of goods and services and, ultimately, the need for warehouse space. Accounting for nearly 27 percent of Florida’s overall population, Miami was home to more than 6.2 million people at the end of 2023 and is projected to grow to 6.3 million this year. The region’s population has expanded by nearly 7.6 percent over the past 10 years. Increased migration to the Sun Belt has boosted wealth, disposable income and consumption, making Miami one of the nation’s wealthiest metro areas, with some of the highest average home values.  In the first quarter of 2024, Miami’s unemployment rate reached a record low of 1.5 percent and has remained below 2 percent since the fourth-quarter 2022. The region’s …

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Spring Creek Centre
ArkansasRetailSoutheastTop Stories

Cohen & Steers Acquires 403,000 SF Shopping Center Complex in Fayetteville, Arkansas 

by Hayden Spiess

FAYETTEVILLE, ARK. — An affiliate of Cohen & Steers has acquired a two-property, open-air shopping center complex located in Fayetteville, a city in the northwest portion of Arkansas near the Oklahoma and Missouri borders.  Totaling 403,000 square feet, the complex comprises the retail centers Spring Creek Centre and Steele Crossing. Tenants at the properties include T.J. Maxx, Ulta Beauty, Best Buy, Old Navy, PetSmart and Kohl’s. The centers also feature corporately owned Walmart, Home Depot and Target stores. At the time of sale, the centers were 95 percent occupied.  DLC Management partnered with Cohen & Steers on the acquisition. The seller and price were not disclosed. “Fayetteville is benefiting from national migration trends as people move to more affordable and economically attractive residential areas across the country,” says James S. Corl, head of the private real estate group at Cohen & Steers. “We believe the shopping centers are well positioned in a dominant location to benefit from these tailwinds, and we are excited to partner with DLC.”  Prior to the acquisition, DLC served as the manager of both Spring Creek Centre and Steel Crossing for more than a decade. Headquartered in metro New York City, the company’s portfolio features more …

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Affordable HousingDevelopmentFloridaLoansMultifamilySoutheast

Centennial Bank Provides $84.4M Construction Loan for Affordable Housing Project in Fort Lauderdale

by John Nelson

FORT LAUDERDALE, FLA. — Centennial Bank has provided an $84.4 million loan for the construction of The Arcadian, a mixed-use affordable housing project underway in Fort Lauderdale. Sunshine Shipyard LLC, an affiliated company of a joint venture between Fuse Group and Boca Paila, is the developer and borrower. Located at 640 N.W. 7th Ave., the property will comprise an eight-story tower with 478 residential units, as well as 15,000 square feet of retail space and a 212,000-square-foot parking garage. Amenities will include swimming pools, a central atrium, fitness center, indoor pickleball court, outdoor movie theater, playground, business center, kid’s room, lounge area, pet park, pedestrian paseo and club rooms. Completion is scheduled for early 2026.

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