Property Type

Gilbane Breaks Ground on 655-Bed Student Housing Development Near University of Kentucky

by Abby Cox July 11, 2025

LEXINGTON, KY. — Gilbane Development has broken ground on MXWL, a 655-bed student housing development near the University of Kentucky campus. Located at 201 E. Maxwell St. in Lexington, the property will offer 277 fully furnished units with bed-to-bath parity. Amenities will include a rooftop deck, game-day courtyards, fire pits, grilling stations, outdoor lounges, coworking spaces and a fitness center with a sauna. The property will also offer a 140-space underground parking garage, as well as covered bike storage. Construction began in June, while completion is scheduled for fall 2027. Humphreys & Partners Architects designed MXWL.

July 11, 2025

Leasing Activity Multifamily Southeast Virginia

JBG Smith Launches Leasing at 355-Unit Valen Multifamily Community in Arlington, Virginia

by Abby Cox July 11, 2025

ARLINGTON, VA. — JBG Smith has launched leasing at Valen, a 355-unit multifamily community located at 2050 S. Bell St. within the National Landing neighborhood of Arlington. New York City-based KPF designed the project. The 25-story tower offers studio, one-, two- and three-bedroom floorplans ranging in size from 524 square feet to 1,279 square feet, as well as 15,000 square feet of ground floor retail space. Monthly rental rates at Valen range from $2,250 to $5,820, according to Apartments.com. Amenities at the property include a rooftop swimming pool and lounge, fitness center, 24-hour concierge services, coworking facilities, community gathering spaces and a pet spa with a grooming station. Residents also have access to garage bike storage and electric vehicle charging stations. JBG Smith plans to achieve LEED Gold certification at Valen. Valen’s adjacent sister property, The Zoe, opened for leasing in December 2024 and includes 420 rental apartments.

July 11, 2025

Affordable Housing District of Columbia Loans Southeast

CPC Arranges $26.7M in Construction Financing for Affordable Housing Rehabilitation Project in D.C.

by Abby Cox July 11, 2025

WASHINGTON, D.C. — The Community Preservation Corp. (CPC) has arranged $26.7 million in construction financing for the rehabilitation and expansion of Townley Court, a 45-unit affordable housing community located in the Glover Park neighborhood of Washington, D.C. DC Green Bank and J.P. Morgan provided $15.7 million in combined financing for the project, while additional financing included $5.2 million from Amazon and $5.8 million from American Housing. Additionally, CPC Mortgage Co. originated a $15.7 million Freddie Mac loan under a Targeted Affordable Housing (TAH) forward commitment. The financing will fund renovations to the apartment’s 45 existing units, with plans to build an additional seven units, as well as solar panels, electric vehicle charging stations and energy-efficient building upgrades. The eco-friendly improvements are estimated to cut both the building’s utility costs and greenhouse gas emissions by nearly 10 percent, while also meeting the Enterprise Green Communities certification upon completion of the renovation. Completion is targeted for September 2026.

July 11, 2025

Acquisitions Florida Retail Southeast

Marcus & Millichap Brokers $8.4M Sale of Ocean Village Square Shopping Center in New Smyrna Beach, Florida

by Abby Cox July 11, 2025

NEW SMYRNA BEACH, FLA. — Marcus & Millichap has brokered the $8.4 million sale of Ocean Village Square, a 60,631-square-foot shopping center located at 4154 – 4198 S. Atlantic Ave. in New Smyrna Beach. Built in 1986, the center is anchored by Dollar General and sits on 9 acres. Other tenants at the property include Nautilus Fitness NSB, Touch of Italy and the Atlantic Wellness Center. David Vaughan and Ray Turchi of Marcus & Millichap procured the buyer, a private investor based in Central Florida. The seller was not disclosed.

July 11, 2025

Florida Leasing Activity Mixed-Use Southeast

L&L Holding, Oak Row Equities Secure 75,000 SF Office Lease Expansion with Amazon in Miami

by Abby Cox July 11, 2025

MIAMI — L&L Holding Co. and Oak Row Equities have secured a lease expansion with Amazon at Wynwood Plaza, a 1 million-square-foot mixed-used development located within Miami’s Wynwood Arts & Entertainment District. The lease expansion — which will total more than 75,000 square feet — builds on Amazon’s original agreement in January to lease 50,333 square feet at the campus. Bryan Lapidus of L&L Holding, as well as Andrew Trench, Edward Quinon and Brian Gale of Cushman & Wakefield, represented Wynwood Plaza’s ownership in the lease negotiations. Tom Capocefalo and Mike Catalano of Savills represented Amazon. Wynwood Plaza’s office tower totals 266,000 square feet with a dedicated second-floor amenity hub that includes a fully equipped fitness center with showers and lockers, a golf simulator and conference rooms. Additional offerings include a landscaped rooftop with flexible seating options and shaded areas, a 25-foot grand lobby, air filtration systems, destination dispatch elevators with touchless entry and an onsite parking garage.

July 11, 2025

Acquisitions Affordable Housing Development Loans Multifamily New York Northeast Top Stories

Joint Venture Acquires Verdant Fort Greene Apartments in Brooklyn for $209M

by Abby Cox July 11, 2025

NEW YORK CITY — A joint venture between Fetner Properties, MCB Real Estate and Farallon Capital Management has acquired Verdant Fort Greene, a residential building located within the Fort Greene neighborhood of Brooklyn, for $209 million. M&T Realty Capital Corp. (MTRCC) provided a $141.5 million senior loan for the transaction. Situated at 240 Willoughby St., the 30-story, mixed-income complex features 463 units, 147 of which are designated for affordable housing. The joint venture purchased Verdant Fort Greene and assumed the ground lease at construction completion and prior to lease-up. The property was 25 percent leased at the time of sale, according to Fetner. “We’re very bullish on New York City, and this acquisition is another step in our continued commitment to provide quality affordable and market-rate housing to the city,” says Hal Fetner, president and CEO of Fetner Properties. The complex, which is located directly across from Fort Green Park, offers studios, one- and two -bedroom floorplans ranging in size from 370 square feet to 792 square feet, with the top four floors featuring penthouse suites. Apartments also offer private terraces, floor-to-ceiling windows, custom integrated Bluetooth speaker systems and in-unit washers/dryers. Additionally, Verdant Fort Greene features more than 30,000 …

July 11, 2025

Civic Development Texas

Midland ISD Begins Renovation of Two High School Campuses Totaling 1.5 MSF

by Taylor Williams July 10, 2025

MIDLAND, TEXAS — The Independent School District (ISD) of Midland, located in West Texas, has begun the renovation of two high school campuses totaling 1.5 million square feet. Renovations at both Midland High School and Legacy High School will deliver career and technical education centers with specialized labs to support industry-aligned training and future workforce readiness. Project partners include Pfluger Architects, Satterfield & Pontikes and Lee Lewis Construction. Upon completion, which is slated for August 2028, each school will be able to accommodate about 4,200 students. The renovations are being financed with a $1.4 billion taxpayer bond that was passed last year.

July 10, 2025

Affordable Housing Development Loans Multifamily Seniors Housing Texas

Lument Provides $33.6M Agency Construction Loan for Dallas Affordable Seniors Housing Project

by Taylor Williams July 10, 2025

DALLAS — New York City-based Lument has provided a $33.6 million Freddie Mac construction loan for The Culbreath, a 364-unit affordable seniors housing project in Dallas. The Culbreath will be reserved for seniors age 62 or older and will consist of 270 one-bedroom units and 94 two-bedroom units. Amenities will include a clubhouse, fitness center, library, game room, multipurpose room, pool, pickleball and bocce ball courts and two dog parks. The opening is slated for summer 2027. Tracy Peters and Dale Giffey led the transaction for Lument on behalf of DHA Housing Solutions of North Texas and Volunteers of American National Services.

July 10, 2025

Acquisitions Industrial Retail Texas

Newmark Brokers $7.6M Sale of Retail, Industrial Building in San Juan, Texas

by Taylor Williams July 10, 2025

SAN JUAN, TEXAS — Newmark has brokered the $7.6 million sale of a 54,608-square-foot retail and industrial building in San Juan, located in Hidalgo County in South Texas. The newly renovated building at 801 E. Interstate 2 will house the first store and showroom in the Rio Grande Valley for Bob Mills Furniture, which also purchased the building. Stewart Skloss of Newmark brokered the deal on behalf of Bob Mills Furniture. The seller was not disclosed.

July 10, 2025

Industrial Leasing Activity Texas

FedEx Ground Package System Renews 186,577 SF Industrial Lease in Fort Worth

by Taylor Williams July 10, 2025

FORT WORTH, TEXAS — FedEx Ground Package System has renewed its 186,577-square-foot industrial lease in Fort Worth. The space is located within Carter Distribution Center, a four-building, 1 million-square-foot complex on the city’s south side that was originally built in 2018. Thomas Eddins of Fischer & Co. represented the tenant in the lease negotiations. Matt Carthey and Thomas Grafton of Holt Lunsford Commercial represented the landlord, PGIM.

July 10, 2025

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