Property Type

Do the Benefits of AI in Senior Living Outweigh the Risks?

by Taylor Williams October 2, 2025

By Eric Taub When Bluetooth burst on the scene, Procter & Gamble thought it would be a great idea to incorporate the technology into its Oral-B toothbrushes. We can see how well that went over. And now that we can buy what is claimed to be the world’s first artificial intelligence (AI)-powered office chair from Backrobo, you’d be forgiven for thinking that our obsession with this latest technology is another prime example of irrational exuberance. AI has entered the “inflated expectations phase” of the so-called hype cycle, the point at which a new technology is touted as being able to solve everything. Unfortunately, that’s typically followed by a backlash of disillusionment, as AI companies fail and solutions don’t work. The rapid growth of AI makes this an ideal time to take a rational look at how the technology is applied to senior living. Industry observers and executives believe that, if done right, AI holds great potential to improve senior living operating efficiencies as well as the well-being of its residents. Several factors are generating heightened interest in the role of AI in senior living. Aging and Health Technology Watch, a market research and analysis platform focused on the intersection of …

October 2, 2025

Acquisitions Multifamily North Carolina Southeast Top Stories

KBS Sells High-Rise Multifamily Property in Raleigh for $132.5M

by Hayden Spiess October 2, 2025

RALEIGH, N.C. — Commercial real estate owner and operator KBS has completed the disposition of Park Central Apartments, a luxury high-rise multifamily property located in Raleigh. San Diego-based Fairfield Residential acquired the asset for $132.5 million. KBS developed Park Central Apartments in a joint venture with locally based Kane Realty Corp. Construction on the project began in 2015 and was completed in 2017. Totaling 286 apartments, the building also features 36,000 square feet of retail space. Current tenants at the property include food-and-beverage concept Happy + Hale, fitness studios Midtown Yoga and Orangetheory, ice cream shop Kilwins and Jabala Coffee. Amenities at the community include a sky deck with a saltwater pool, clubhouse, sauna, dog spa, fitness center, conference center and a dedicated parking garage. Situated in the North Hills district, the property features access to I-440 and walkability to a grocery store, multiple fitness concepts and dozens of restaurants, entertainment venues and retailers. Park Central Apartments is also located in proximity to downtown Raleigh and North Carolina State University. “Each project we’ve developed in North Hills has outperformed our underwriting, reinforcing our conviction to this live-work hub and our strategy,” says Allen Aldridge senior vice president at KBS and asset …

October 2, 2025

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of Two Texas Self-Storage Facilities Totaling 802 Units

by Taylor Williams October 1, 2025

KILLEEN AND EDINBURG, TEXAS — Marcus & Millichap has brokered the sale of two Texas self-storage facilities totaling 802 units. Hallmark Mini Storage, located in the Central Texas city of Killeen, was built on 2.4 acres in 2002 and totals 36,350 net rentable square feet of space across eight buildings and 275 units. Superior Self Storage, located in the Rio Grande Valley city of Edinburg, was built on 3.9 acres in 2004 and totals 50,692 net rentable square feet of space across seven buildings and 527 units. The properties traded as part of a portfolio deal that included a 294-unit facility in Las Cruces, N.M. Stacey Gorman, Sam Slocum and Grace Folger of Marcus & Millichap represented the undisclosed seller in the transaction. The trio also collaborated with Marcus & Millichap’s Cameron Bradford to procure the buyers. An undisclosed investment group purchased Hallmark Mini Storage, and Wentworth Property Co. bought Superior Self Storage.

October 1, 2025

Affordable Housing Development Multifamily Texas

Palladium Completes $35M Mixed-Income Housing Project in Northeast Houston

by Taylor Williams October 1, 2025

HOUSTON — Dallas-based multifamily developer Palladium USA has completed a $35 million mixed-income housing project in northeast Houston. Palladium Houston Ella is a three-story, 146-unit building that houses one-, two- and three-bedroom units. About 78 percent (115) of the units are reserved for renters earning between 30 and 60 percent of the area median income, and the remainder will be rented at market rates. Amenities include a pool, fitness center, conference center, dog park, computer lounge, kid’s play area and a clubroom. Palladium developed the project in partnership with the Harris County Housing Finance Corp. HEDK Architects designed the property, and Brownstone Construction served as the general contractor. Construction began in early 2024.

October 1, 2025

Development Hospitality Texas

CDC Houston Completes Renovation of Two Hotels Totaling 253 Rooms at City Place

by Taylor Williams October 1, 2025

HOUSTON — CDC Houston, a subsidiary of New York City-based Coventry Development Corp., has completed the renovation of two hotels totaling 253 rooms within City Place, a 2,000-acre mixed-use development on the city’s north side. The 128-room Residence Inn Houston City Place, which opened in 2015, now features a redesigned lobby and public spaces with modern seating and improved lighting, as well as contemporary guestroom furnishings. The 125-room Courtyard Houston City Place, which opened in 2016, now features plush seating throughout guestrooms and public areas. Between them, the hotels offer multiple pools and fitness centers, as well as meeting and event spaces and onsite dining options.

October 1, 2025

Acquisitions Industrial Texas

Realterm Buys 34.1-Acre Industrial Outdoor Storage Facility in El Paso

by Taylor Williams October 1, 2025

EL PASO, TEXAS — Realterm, a Maryland-based investment manager focused on the transportation industry, has purchased a 34.1-acre industrial outdoor storage (IOS) facility in El Paso. Developed in 2017, the facility at 11090 Gateway Blvd. features 14,148 square feet of maintenance shop space with six drive-thru bays, 12,684 square feet of office space and 3,800 square feet of warehouse space with four dock doors for transloading. The facility was fully leased at the time of sale to TFA Logistics. The seller and sales price were not disclosed.

October 1, 2025

Acquisitions Retail Texas

Weitzman Brokers Sale of 9,695 SF Retail Strip Center in Euless, Texas

by Taylor Williams October 1, 2025

EULESS, TEXAS — Weitzman has brokered the sale of Bear Creek Plaza, a 9,695-square-foot, fully leased retail strip center in Euless, located in the northern-central part of the metroplex. Tenants include restaurants Argentina 16/3, Chandni Chowk Grill and Osuma Suya, as well as dentistry practice Harwood Smiles and Texas Nail Bar. Kevin Butkus of Weitzman represented the buyer, Dallas-based Ouellette Equities, in the transaction. Tim Axilrod of SHOP Cos. represented the undisclosed, California-based seller.

October 1, 2025

Affordable Housing Development Multifamily New Jersey Northeast

NJEDA Approves $90M in Tax Credit Equity for Jersey City Multifamily Project

by Taylor Williams October 1, 2025

JERSEY CITY, N.J. — The New Jersey Economic Development Authority (NJEDA) has approved approximately $90 million in tax credit equity for a 360-unit multifamily project in Jersey City. A developer doing business as 701 Newark Ave LLC will develop a 34-story building in the Journal Square neighborhood with affordable housing units and roughly 3,000 square feet of ground-floor retail space, as well as a public promenade. The NJEDA awarded the tax credit allocation, which represents about 60 percent of the total project cost, through its Aspire program, which provides gap financing for mixed-use, transit-oriented residential developments.

October 1, 2025

Development Loans Multifamily New York Northeast

S3 Capital Provides $80M in Financing for Midtown Manhattan Multifamily Project

by Taylor Williams October 1, 2025

NEW YORK CITY — S3 Capital, the lending arm of New York City-based investment firm Spruce Capital Partners, has provided $80 million in financing for the development of a 131-unit multifamily project that will be located in Midtown Manhattan’s Turtle Bay area. The borrower is local developer David Halberstam. The doorman- and elevator-served building at 303 E. 44th St. will offer studio, one- and two-bedroom units and amenities such as a fitness center, rock climbing wall, rooftop pool, coworking lounge and a clubhouse. A portion of the residences will be earmarked as affordable housing. Sitework is underway, and completion is slated for the third quarter of 2027.

October 1, 2025

Build-to-Rent Development Georgia Mixed-Use Multifamily Single-Family Rental Southeast

Mallory & Evans to Develop $95M Mixed-Use Community in Athens, Georgia

by John Nelson October 1, 2025

ATHENS, GA. — Atlanta-based Mallory & Evans has plans to develop The Shoals, a mixed-use development located near University of Georgia in Athens. The $95 million Phase I will feature 285 residences, 456 parking spaces (garage and street), green spaces and more than 20,000 square feet of retail and commercial space. Residences will come in studio to four-bedroom configurations in multiple formats — townhomes, duplexes, cottages, live/work units and single-family homes — and are expected to deliver in 2027. Phase I will span 22 acres of the 90-acre site, which will interface with the Athens Firefly & Greenway Trail system. Ultimately, The Shoals will feature more than 600 residences and commercial space across four connected pocket neighborhoods.

October 1, 2025

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