Property Type

Up Campus Student Living to Break Ground on 641-Bed Student Housing Development Near University of Virginia

by John Nelson February 20, 2025

CHARLOTTESVILLE, VA. — Up Campus Student Living is set to break ground on Blume on Ivy, a 641-bed student housing development located near the University of Virginia campus in Charlottesville. The community will offer one-, two-, three- and four-bedroom, fully furnished units. Shared amenities will include a resort-style pool; rooftop entertainment deck with a jumbotron, cabanas, grills and fire pits; a game day lounge; golf simulator; and a boutique health-and-wellness center with private cross-training studios and a sauna. The project is scheduled for completion in fall 2027. TSB Capital Advisors arranged construction financing for the development, which was provided by Fifth Third Bank with additional participation from First Citizens Bank.

February 20, 2025

Build-to-Rent Development Multifamily Single-Family Rental South Carolina Southeast

Center Park Delivers First Build-to-Rent Townhomes at Sanderling Project in Johns Island, South Carolina

by John Nelson February 20, 2025

JOHNS ISLAND, S.C. — General contractor Center Park Group has delivered the first tranche of townhomes at Sanderling, a 56-unit build-to-rent (BTR) residential community located at 3021 Maybank Highway in Johns Island, about 13 miles south of Charleston. Atlanta-based RangeWater Real Estate is providing property management services at Sanderling on behalf of the owners, Equus Development Partners and Circle Squared Alternative Investments. Center Park expects to deliver all BTR homes at Sanderling by March. Units span up to 1,443 square feet and come in two- and three-bedroom configurations with one-car garages and front porches. Community amenities include a dog park and three acres of forested land with walking trails throughout.

February 20, 2025

Development Loans Multifamily New York Northeast Walker & Dunlop

Walker & Dunlop Arranges $158M Construction Loan for Manhattan Multifamily Project

by Taylor Williams February 20, 2025

NEW YORK CITY — Walker & Dunlop has arranged a $158 million construction loan for an 83-unit multifamily project in Manhattan’s Turtle Bay neighborhood. The 26-story building at 401 E. 51st St. will feature for-sale condominium residences, with units to be offered in studio, one-, two-, three-and four-bedroom floor plans. The building will also house a five-bedroom penthouse. Amenities will include a fitness center, resident lounge and a private dining area. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer and Sean Bastian of Walker & Dunlop arranged the financing through TYKO Capital on behalf of the borrower, CBSK Developers.

February 20, 2025

Acquisitions Industrial South Carolina Southeast

Trinity Partners Brokers Sale of 28,000 SF Industrial Facility in West Columbia, South Carolina

by John Nelson February 20, 2025

WEST COLUMBIA, S.C. — Trinity Partners has brokered the sale of a 28,000-square-foot industrial facility located at 971 Harbor Drive in West Columbia. Nick Stomski, Jake Nidiffer and Ryan Causey of Trinity Partners represented the undisclosed buyer in the transaction. The seller and sales price were not disclosed. The Class B facility has been fully occupied by publicly traded HVAC firm Trane Technologies since 2019. The property includes frontage along I-26.

February 20, 2025

Acquisitions Northeast Pennsylvania Retail

CBL Properties Sells Monroeville Mall Near Pittsburgh for $34M, Buyer Plans Redevelopment

by Taylor Williams February 20, 2025

MONROEVILLE, PA. — CBL Properties, a shopping center REIT based in Tennessee, has sold Monroeville Mall, a 1.2 million-square-foot, 186-acre regional shopping and dining destination located roughly 20 miles east of Pittsburgh. According to the Pittsburgh Post-Gazette, the buyer was Walmart. The sales price was $34 million. Macy’s, Dick’s Sporting Goods and JCPenney anchor Monroeville Mall, which is also home to tenants such as Barnes & Noble, Cinemark Theatres, Guitar Center and Best Buy. Dallas-based Cypress Equities will manage and lead redevelopment efforts for the property on behalf of Walmart. JLL represented CBL in the transaction, and Tom Flynn of CBRE represented Walmart.

February 20, 2025

Acquisitions Healthcare Northeast Pennsylvania

ESJ Capital Buys Medical Office Portfolio in Langhorne, Pennsylvania, for $16M

by Taylor Williams February 20, 2025

LANGHORNE, PA. — Florida-based investment firm ESJ Capital Partners has purchased a portfolio of nine medical office buildings totaling 152,310 square feet in Langhorne, located northeast of Philadelphia, for $16 million. The portfolio was roughly 70 percent leased at the time of sale to tenants such as Quest Diagnostics, DaVita, LabCorp and the American Red Cross. The new ownership plans to invest in capital improvements across the portfolio, including upgrading HVAC systems, adding new roofing, updating wayfinding signage and modernizing vacant spaces. Michael Margolis, David Dolan and Angelo Brutico of Newmark represented the seller, SkyREM, in the transaction.

February 20, 2025

Leasing Activity Northeast Office Pennsylvania

FS Investments Signs 117,000 SF Office Headquarters Lease at Schuylkill Yards in Philadelphia

by Taylor Williams February 20, 2025

PHILADELPHIA — FS Investments has signed a 117,000-square-foot office headquarters lease in the Schuylkill Yards mixed-use development in Philadelphia. The locally based alternative asset manager will relocate and expand from an 80,000-square-foot space at the Philadelphia Navy Yard, where it has been a tenant since 2015, to the mixed-use building at 3025 JFK Blvd. Tactix Real Estate Advisors represented FS Investments in the negotiations for the 16-year lease. The landlord, locally based REIT Brandywine Realty Trust, was self-represented.

February 20, 2025

Acquisitions Industrial Massachusetts Northeast Office

Marcus & Millichap Brokers $4.8M Sale of Industrial Flex Building in North Andover, Massachusetts

by Taylor Williams February 20, 2025

NORTH ANDOVER, MASS. — Marcus & Millichap has brokered the $4.8 million sale of a 30,855-square-foot industrial flex building located outside of Boston in North Andover. Completed in 1997, the building at 45 Beechwood Drive features 11,500 square feet of office space and 19,355 square feet of warehouse space, as well as two loading docks, one drive-in bay and a clear height of 14 feet. Mattias Edenkrans, Harrison Klein and Luigi Lessa of Marcus & Millichap represented the seller and procured the buyer, both of which were private entities that requested anonymity, in the transaction..

February 20, 2025

Acquisitions Colorado Multifamily Seniors Housing Western

Meridian Senior Living Buys Pine Grove Crossing Assisted Living, Memory Care Community in Parker, Colorado

by Amy Works February 20, 2025

PARKER, COLO. — An affiliate of Meridian Senior Living (Meridian) has acquired Pine Grove Crossing, a seniors housing property in Parker, from a real estate private equity group for an undisclosed price. Meridian will manage the community on behalf of an institutional investor. Completed in 2018, Pine Grove Crossing offers 100 assisted living and 27 memory care units in a three-story building. The community offers weekly shuttle bus excursions, a private transport services for appointments, beauty salon and barbershop, gym with daily fitness classes, library and outdoor patio space. Additionally, the property includes all-day, full-service dining and an onsite bistro for coffee and pastries. At the time of sale, Pine Grove Crossing was 90 percent occupied. The property is situated on 4.4 acres at 19160 Cottonwood Drive. JLL Capital Markets Seniors Housing team represented the seller in the deal.

February 20, 2025

Arizona Development Loans Multifamily Student Housing Western

TSB Capital Secures Construction Financing for 532-Bed Student Housing Development Near University of Arizona

by Amy Works February 20, 2025

TUCSON, ARIZ. — TSB Capital Advisors has secured construction financing for a 532-bed student housing development near the University of Arizona campus in Tucson. The project, which is being developed by Capstone Collegiate Communities, will offer units in studio, one-, two-, three-, four-, five- and six-bedroom configurations. Shared amenities are set to include a resort-style pool, sundeck, coffee bar, courtyard, multimedia room, hammock lounge, fitness center, cold plunge, sauna, clubhouse, grilling stations, tanning rooms, green spaces, private and group study lounges and an outdoor kitchen and dining area. Ankrom Moisan is providing architectural, interior design and furniture, fixtures and equipment (FF&E) services for the project, which is slated for completion in fall 2027. An undisclosed Fortune 100 insurance company provided the financing.

February 20, 2025

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