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AcquisitionsNorth CarolinaSelf-StorageSoutheast

Andover Properties Buys 500-Unit Self-Storage Facility in Rockingham, North Carolina

by John Nelson

ROCKINGHAM, N.C. — New York-based Andover Properties has purchased a self-storage facility located at 102 W. Greene St. in Rockingham, about 70 miles southeast of Charlotte. Renovated in 2022, the property comprises nearly 500 climate-controlled units and spans 63,000 square feet. The facility represents the 15th North Carolina facility for Andover’s Storage King USA brand. The property features three loading docks, multiple levels of storage units, keypad-controlled entry and 24/7 video surveillance. The seller and sales price were not disclosed.

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HealthcareLoansTexas

Cushman & Wakefield Arranges Financing for 110,636 SF Healthcare Portfolio in Metro Houston

by Taylor Williams

HOUSTON — Cushman & Wakefield has arranged an undisclosed amount of financing for a portfolio of three healthcare assets totaling 110,636 square feet in the Houston area. The portfolio comprises medical office buildings that were built between 2015 and 2017 and were fully leased to regional provider Memorial Hermann Health System at the time of the loan closing. Buildings range in size from 30,523 to 47,859 square feet and are located in League City, Spring and Katy. The financing represents a senior loan provided by a syndicate of lenders that includes Siemens and First Horizon Bank. Tyler Morss and Gideon Gil of Cushman & Wakefield arranged the financing on behalf of the owner, a partnership between Big Sky Medical and GFH Partners.

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AcquisitionsOfficeTexas

Worth Commercial Buys 31,000 SF Historic Office Building in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Worth Commercial Real Estate has purchased Magnolia Centre, a 31,000-square-foot historic office building located in Fort Worth’s Near Southside District. According to LoopNet Inc., the six-story building was originally constructed in 1926 and renovated in 1990. Worth Commercial plans to occupy space on the building’s fourth floor for its new headquarters and to lease the remainder. The seller and sales price were not disclosed.

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Leasing ActivityOfficeTexas

Holt Lunsford Negotiates 29,571 SF Office Lease Renewal in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 29,571-square-foot office lease renewal in Fort Worth. The space is located within Overton Centre, a two-building, 417,465-square-foot development on the city’s southwest side. Jake Neal and Matt Carthey of Holt Lunsford represented the landlord, an entity doing business as FLDR/TLC Overton Centre LP, in the lease negotiations. Jim Smith of Cushman & Wakefield represented the tenant, HCA Information Technology & Services.

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AcquisitionsCaliforniaRetailWestern

CBL Properties Sells Imperial Valley Mall in El Centro, California for $38.1M

by Amy Works

EL CENTRO, CALIF. — CBL Properties has completed the all-cash, $38.1 million disposition of Imperial Valley Mall in El Centro. The property served as collateral under CBL’s nonrecourse term loan. Net proceeds from the sale were applied to the term loan principal balance, which after closing was reduced to $680.3 million. The name of the buyer was not disclosed.

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HospitalityLoansWashingtonWestern

Staypineapple Receives $29.5M in Refinancing for Maxwell Hotel in Seattle

by Amy Works

SEATTLE — Staypineapple has obtained $29.5 million in refinancing for The Maxwell Hotel, a 139-key boutique hotel in Seattle’s Queen Anne neighborhood. Adrienne Andrews and Jessica Mehra of JLL’s Hotels & Hospitality Group Debt Advisory team secured the 10-year, fixed-rate loan through a regional credit union for the borrower. Opened in 2010, the five-story property features spacious guest rooms with modern amenities, an indoor pool, fitness center and an onsite restaurant and bar, as well as 1,600 square feet of meeting space. The Maxwell Hotel is located at 300 Roy St., near the Seattle Center, Space Needle and Climate Pledge Arena.

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ArizonaDevelopmentIndustrialWestern

Creation Breaks Ground on 144,885 SF Source Logistics Center in Tempe, Arizona

by Amy Works

TEMPE, ARIZ. — Creation has started construction of Source Logistics Center, a Class A industrial facility in Tempe. The company acquired the 15-acre site at the southeast corner of Warner Road and Hardy Drive in partnership with CrossHarbor Capital Partners as investor. The 144,885-square-foot project will feature a clear height of 32 feet, abundant power and 6 acres of contiguous yard space allowing for flexible storage or excess passenger vehicle, trailer or box-truck parking. The property also offers access to Interstate 10 and Loop 101, as well as Union Pacific rail spur capabilities. LGE Design Build is serving as architect and general contractor for Source Logistics Center, which is slated for completion in mid-2026. Cooper Fratt, John Werstler and Tanner Ferrandi of CBRE are handling leasing efforts for the project.

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Affordable HousingCaliforniaDevelopmentMultifamilyWestern

IHO Opens Affordable Housing Complex for Transitional Age Youth in Riverside, California

by Amy Works

RIVERSIDE, CALIF. — Innovative Housing Opportunities (IHO) has opened The Aspire, an affordable residential community in Riverside. Situated at the corner of Third Street and Fairmount Boulevard, The Aspire features 33 fully furnished units for transitional age youth, including young people aging out of the foster care system. The furnished one-bedroom units are approximately 450 square feet and include a patio or deck. Community amenities include an interior courtyard, roof terrace, communal living room and public art. Additionally, The Aspire is in a walkable neighborhood close to transit, employment, recreation, retail and cultural options. The Aspire will offer onsite education services and programs, provided by the California Family Life Center. Riverside Community College District is also offering academic, career and financial aid counseling, as well as job placement assistance. The $25 million development was funded with Housing Authority funds from the City of Riverside, project-based housing choice vouchers from Riverside County and California’s Housing and Community Development/Multifamily Housing Program.   

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AcquisitionsArizonaIndustrialWestern

MAG Capital Partners Acquires Infill Industrial Property in Northwest Phoenix

by Amy Works

PHOENIX — MAG Capital Partners has purchased an industrial building located at 2848 Sweetwater Ave. in northwest Phoenix for an undisclosed price. Sunrun and Kaboomracks fully occupy the 39,950-square-foot building, which is situated on 3.1 acres. Phil Haenel and Foster Bundy of Cushman & Wakefield represented the seller, a private investor, in the deal.

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The-Eastwalk-Braintree
Affordable HousingDevelopmentMultifamilyNortheast

WinnCos. Breaks Ground on $47M Affordable Housing Project in Braintree, Massachusetts

by Taylor Williams

BRAINTREE, MASS. — Developer WinnCos. has broken ground on The Eastwalk, an affordable housing project in the southern Boston suburb of Braintree that is valued at $47 million. Of the development’s 56 total units, 30 will be reserved for households earning 60 percent or less of the area median income (AMI). Another 20 residences will be earmarked for renters earning 120 percent or less of AMI, and the remaining six units will be rented at market rates. Residences will come in one-, two- and three-bedroom floor plans, and amenities will include a community room with a kitchen, onsite resident workspace, fitness room and a patio lounge with grills. The Eastwalk is expected to be available for occupancy in summer 2026. WinnCos. is developing the project in partnership with Arch Communities, with Webster Bank financing construction. The capital stack also includes both state- and federal-issued Low-Income Housing Tax Credits, and the investors of those securities are U.S. Bank and Boston Financial, respectively.

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