Monday, July 13, 2026
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Affordable HousingDevelopmentHospitalitySeniors HousingSoutheastWest Virginia

Cornerstone Community Development to Break Ground on $51M Adaptive Reuse Project in Huntington, West Virginia

by John Nelson

HUNTINGTON, W.VA. — Cornerstone Community Development Corp. plans to convert the historic Prichard Hotel in downtown Huntington into an affordable seniors housing property. The $51 million renovation will comprise converting the former hotel rooms into 108 residential living spaces, as well as repositioning the first two floors for healthcare services and additional community resources. Cornerstone Community Development’s partners on the project include Christ Temple Church, Winterwood Development and CVS Health, which is investing more than $17 million in the project. The timeline for construction was not disclosed.

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Affordable HousingDevelopmentFloridaLoansSeniors HousingSoutheast

Pinnacle Obtains $41.2M Construction Financing for Affordable Seniors Housing Development in South Florida

by John Nelson

MIRAMAR, FLA. — Pinnacle has obtained $41.2 million in construction financing for Pinnacle at La Cabana, a 110-unit affordable seniors housing development in Miramar, a city in South Florida’s Broward County. The financing included debt or LIHTC equity from Bank of America, Neighborhood Lending Partners, Florida Housing Finance Corp., City of Miramar and United Way of Broward County. Located at 8911 Miramar Parkway, the development is a public-private partnership between Pinnacle and the City of Miramar, which is the landowner. Pinnacle at La Cabana will feature one- and two-bedroom apartments, with 11 units reserved for seniors earning 28 percent of the area median income (AMI) and the remaining affordable to seniors earning 60 percent of AMI. Amenities will include indoor and outdoor multi-purpose facilities. Completion of the project is estimated for mid-2025.

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AcquisitionsMississippiSeniors HousingSoutheast

SLIB Arranges Sale of 68-Unit Seniors Housing Community in Tupelo, Mississippi

by John Nelson

TUPELO, MISS. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Avonlea Assisted Living, a 68-unit seniors housing property in Tupelo. The community was built in 1999 and renovated in 2005. The seller is a publicly traded REIT. The buyer is a regional owner-operator based in Mississippi that intends to renovate the asset and make significant upgrades to improve occupancy, revenue and overall bottom-line performance. The sales price was not disclosed. Bradley Clousing and Daniel Geraghty of SLIB brokered the transaction.

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DevelopmentMultifamilyTexas

Richmond Group Begins Leasing 340-Unit Prescott Apartments in Austin

by Taylor Williams

AUSTIN, TEXAS — The Richmond Group, a multifamily owner-operator based in Connecticut, has begun leasing The Prescott, a 340-unit apartment community in Austin’s South Congress neighborhood. The Prescott features 16 different floor plans, including studio, one-, two- and three-bedroom units that are furnished with stainless steel appliances, granite countertops, individual washers and dryers and private balconies/patios. Amenities include a pool, business center, fitness center, pet park, clubroom, package locker system and outdoor grilling and dining stations. South Florida-based V Starr handled the interior design of the project. Rents start at roughly $1,300 per month for a studio apartment.

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Water-Oak-Austin
AcquisitionsMultifamilyTexas

Newmark Brokers Sale of 292-Unit Water Oak Apartments in South Austin

by Taylor Williams

AUSTIN, TEXAS — Newmark has brokered the sale of Water Oak, a 292-unit apartment community in South Austin. Built in 2022, Water Oak offers studio, one-, two- and three-bedroom units. Amenities include a pool, outdoor grilling and dining stations, a dog park and pet spa, clubhouse, entertainment kitchen, movie theater, business center with conference rooms and a fitness center. Austin-based JCI Residential sold the property to Chicago-based Sherman Residential for an undisclosed amount. Patton Jones and Andrew Dickson of Newmark brokered the deal.

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Cedar-Crest-Hospital-&-Residential-Treatment-Center-Belton
DevelopmentHealthcareTexas

AP Construction Underway on 79,000 SF Healthcare Project in Belton, Texas

by Taylor Williams

BELTON, TEXAS — Adolfson & Peterson (AP) Construction is underway on a 79,000-square-foot healthcare project in Belton, about 75 miles north of Austin. The two-story, 96-bed facility will be an expansion of the Cedar Crest Hospital & Residential Treatment Center and will include space for activity therapy, an outpatient clinic, gym and a new kitchen. AP Construction is also renovating the facility’s existing kitchen. Completion is slated for spring 2025.

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IndustrialLeasing ActivityLee & AssociatesTexas

Lee & Associates Negotiates 56,960 SF Industrial Lease in Arlington

by Taylor Williams

ARLINGTON, TEXAS — Lee & Associates has negotiated a 56,960-square-foot industrial lease in Arlington. According to LoopNet Inc., the single-tenant property at 614-616 111th St. was built in 1978. Robert Miller of Lee & Associates represented the tenant in the lease negotiations. Colton Rhodes, also with Lee & Associates, represented the landlord, Texas-based investment firm Stonelake Capital Partners.

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Leasing ActivityOfficeTexas

Chariot Energy Signs 16,192 SF Office Lease in Houston’s Galleria District

by Taylor Williams

HOUSTON — Solar power provider Chariot Energy has signed a 16,192-square-foot office lease at Galleria Tower 2 in Houston. The tenant plans to relocate from Williams Tower to the entire 14th floor early next year. Brad Beasley and Win Haggard of Cushman & Wakefield represented the landlord, Unilev Management, in the lease negotiations. Nick Bockhorn and Cameran Lindee of CBRE represented the tenant.

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Woodmont-Way-at-West-Windsor
LoansMultifamilyNew JerseyNortheast

JLL Arranges Permanent Refinancing of 443-Unit Apartment Community Near Trenton

by Taylor Williams

WEST WINDSOR, N.J. — JLL has arranged an undisclosed amount of permanent financing for Woodmont Way at West Windsor, a 443-unit apartment community located about 12 miles northeast of Trenton. Completed in 2022, the garden-style property features 13 buildings that house one-, two- and three-bedroom units. Amenities include a clubhouse, pool with a sundeck, resident lounge, golf simulator, fitness center, game den, dog park, pet spa and outdoor courtyards with pickleball courts. Thomas Didio, Thomas Didio Jr., Salvatore Buzzerio and Benjamin Morgenthal of JLL arranged the five-year, fixed-rate loan through Northwestern Mutual. The borrower was New Jersey-based Woodmont Properties.

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AcquisitionsMidwestOfficeOhio

ICP Acquires Sherwin-Williams R&D Campus in Warrensville Heights, Ohio, Plans Redevelopment

by Kristin Harlow

WARRENSVILLE HEIGHTS, OHIO — Industrial Commercial Properties (ICP) has acquired the research and development (R&D) campus of The Sherwin-Williams Co. in Warrensville Heights, an eastern suburb of Cleveland. The purchase price was undisclosed. The 105-acre property includes several buildings. Sherwin-Williams has entered into a short-term sale-leaseback agreement with ICP, which plans to repurpose some of the smaller commercial structures on the site while it finalizes redevelopment plans for the R&D building and adjacent acreage. The property will soon be vacated by Sherwin-Williams, which is building a new R&D center in Brecksville and a new headquarters in downtown Cleveland.  

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