Property Type

Landmark Properties, Cerca Trova Open 521-Bed Student Housing Community in Ann Arbor

by Kristin Harlow August 4, 2025

ANN ARBOR, MICH. — Landmark Properties and Cerca Trova LLC have opened The Legacy at Ann Arbor, a 521-bed student housing community at 616 E. Washington St. in Ann Arbor. Designed by ESG Architecture & Design, the project consists of two interconnected buildings — a 19-story high-rise and a mid-rise structure attached to the historic Michigan Theater. Landmark Construction was the general contractor. The development is fully leased ahead of the 2025-2026 school year. The Legacy at Ann Arbor offers a mix of studios to five-bedroom apartments across 253 units. Apartments come fully furnished and wired for high-speed internet and cable. The development features more than 9,700 square feet of amenities, including a rooftop pool deck and resident clubroom, academic lounge, fitness center and bike storage. The project also includes 4,150 square feet of ground-floor retail space and onsite gated parking. The building is immediately adjacent to the University of Michigan campus. With the opening of The Legacy at Ann Arbor, Athens, Ga.-based Landmark currently operates and manages more than 2,400 beds across six properties in Michigan.

August 4, 2025

Development Hospitality Midwest Missouri

Midas Building Group Completes $20M Dual-Branded Hotel Project Near St. Louis Airport

by Kristin Harlow August 4, 2025

ST. LOUIS — Midas Building Group has completed a $20 million dual-branded hotel at 10300 Natural Bridge Road serving the nearby St. Louis Lambert International Airport. Lawrence Group was the architect, and Lodging Hospitality Management was the developer. The project connects the existing St. Louis Airport Hilton hotel built in the 1960s with a new 78,957-square-foot Hampton Inn hotel. In addition to architecture, Lawrence Group provided interior design, furniture procurement and landscape architecture on the project, which also included extensive interior renovations to the Hilton’s existing 18,100-square-foot, first-floor public areas. The Hilton’s four-story wing was replaced with a new six-story, 128-bed Hampton Inn hotel designed to operate independently from the adjacent Hilton hotel. Hampton Inn guests are able to utilize amenities within the renovated Hilton, including the fitness center, business center and indoor pool. Construction of the Hampton Inn portion was coordinated to not disrupt operations of the Hilton hotel, which provides an additional 397 rooms.

August 4, 2025

Acquisitions Development Illinois Midwest Multifamily

SVN Chicago Commercial Brokers $6M Sale of Multifamily Development Site in Roscoe Village

by Kristin Harlow August 4, 2025

CHICAGO — SVN Chicago Commercial has brokered the nearly $6 million sale of an 80,000-square-foot land parcel at 2221 W. Oakdale Ave. in Chicago’s Roscoe Village neighborhood. Developer Zev Salomon of ZSD Dorp. purchased the site with plans to transform the long-vacant parcel into a 35-unit row home community called RiverWard Row Homes. Wayne Caplan and Adam Thomas of SVN Chicago represented the undisclosed seller, while Matthew Lucas of Accretive LLC and Kale Realty represented the buyer. The deal took more than a year to close due to a zoning change and coordination with the Army Corps of Engineers on river access, according to Caplan.

August 4, 2025

Development Illinois Industrial Midwest

CRG Begins Development of 85,680 SF Spec Industrial Facility in Cicero, Illinois

by Kristin Harlow August 4, 2025

CICERO, ILL. — CRG has begun development of The Cubes at Cicero, an 85,680-square-foot speculative industrial facility in Cicero, just west of Chicago. The project at 5401 W. Roosevelt Road will feature a clear height of 32 feet, 16 dock-high loading doors, two drive-in doors and approximately 2,000 square feet of office space. Thomas Rodeno, Patrick Turner and Sean Austin of Colliers will market the development for lease. DSI is the general contractor. Lamar Johnson Collaborative, CRG’s integrated architecture and design firm, is the project architect.

August 4, 2025

Development Multifamily Texas

LV Collective Begins Leasing 48-Story Apartment Tower in Downtown Austin’s Rainey Street District

by Taylor Williams August 4, 2025

AUSTIN, TEXAS — Locally based multifamily and student housing developer LV Collective, formerly known as Lincoln Ventures, has begun leasing Paseo, a 48-story apartment tower located at 80 Rainey St. in downtown Austin. Paseo offers 557 units in studio, one-, two- and three-bedroom floor plans, as well as four penthouses and a pool, deck and bar on the 12th floor with views of Lady Bird Lake. Residents also have access to a ground-level café and bar, a fitness center with a yoga studio, cold plunge and saunas and two floors of coworking space with private pods and conference rooms. Monthly rents start in the $1,900s for a studio apartment. Construction began in early 2023 and is expected to be fully complete in October.

August 4, 2025

Loans Multifamily Texas

PCCP Provides $42M Acquisition Loan for Downtown San Antonio Apartment Community

by Taylor Williams August 4, 2025

SAN ANTONIO — Los Angeles-based PCCP LLC has provided a $42 million acquisition loan for Heritage Plaza, a 341-unit apartment community located at 227 Dwyer Ave. in downtown San Antonio. Built in 2020, Heritage Plaza offers studio, one- and two-bedroom units, 34 of which are subject to income restrictions. Residences are furnished with stainless steel appliances, kitchen islands, walk-in closets and balconies/patios in each unit. Amenities include a pool, fitness center, outdoor kitchen, rooftop terraces and a resident clubhouse, as well as 4,600 square feet of ground-floor retail space. The borrower was Austin-based RPM Living Investments.

August 4, 2025

Acquisitions Industrial Texas

Partners Real Estate Brokers Sale of 361,750 SF Industrial Portfolio in Laredo, Texas

by Taylor Williams August 4, 2025

LAREDO, TEXAS — Partners Real Estate has brokered the sale of a portfolio of three industrial buildings totaling 361,750 square feet in the Rio Grande Valley city of Laredo. The buildings, which are situated on a combined 20 acres at the nexus of interstates 35 and 69, have been fully occupied by the same unnamed tenants since the mid- to late-2000s. Shaffer Braun and Marc Peeler of Partners represented the buyer, Austin-based investment firm Evergen Equity, in the off-market transaction. The seller and sales price were not disclosed.

August 4, 2025

Development Multifamily Texas

SHIR Capital Completes 174-Unit Multifamily Adaptive Reuse Project in Austin

by Taylor Williams August 4, 2025

AUSTIN, TEXAS — Local private equity firm SHIR Capital has completed Veer Apartments, a 174-unit multifamily adaptive reuse project in Austin. The project converted a former five-story Quality Inn hotel located just north of downtown into an apartment complex with two sets of studio floor plans. The conversion also added a fitness center and outdoor pool to the property to complement the existing business center, onsite laundry facilities and pet spa. Pfluger Architects designed the project, and Ava’s Construction served as the general contractor. Monthly rental rates at Veer start at $790, according to the property website

August 4, 2025

Acquisitions Retail Texas

SRS Real Estate Arranges Sale of 22,970 SF Shopping Center in Metro Austin

by Taylor Williams August 4, 2025

ROUND ROCK, TEXAS — SRS Real Estate Partners has arranged the sale of The Shops at Greenlawn, a 22,970-square-foot retail center located north of Austin in Round Rock. At the time of sale, The Shops at Greenlawn was 92 percent leased to nine tenants, including Next Level Urgent Care and Bay Leaf Indian Restaurant. Cathy Nabours, Kyle Shaffer and Sam Nichols of SRS represented the seller, locally based firm Mathias Partners, in the transaction. The buyer was metro Philadelphia-based CenterSquare Investment Management.

August 4, 2025

Acquisitions Data Centers Industrial Life Sciences New Jersey Northeast

Newmark Brokers $322M Sale of Data Center, Life Sciences Facility in Kenilworth, New Jersey

by Taylor Williams August 4, 2025

KENILWORTH, N.J. — Newmark has brokered the $322 million sale of a facility within the Northeast Science & Technology Center, a 107-acre data center and life sciences campus located in the Northern New Jersey community of Kenilworth. Spanning roughly 2 million square feet and formerly owned and occupied by pharmaceutical company Merck, the campus comprises nine buildings with office, lab and research-and-development space, as well as a 50-megawatt substation, cogeneration and chiller plants and a central boiler facility. The buyer, New Jersey-based data center owner-operator CoreWeave, committed last fall to a 280,000-square-foot lease and a larger $1.2 billion investment at the property. The seller, a partnership between Onyx Equities and Machine Investment Group, bought the campus in 2023 for $187.5 million with plans to reposition the property into a life sciences and innovation hub. The Newmark deal team included Andrew Warin, Josh King, Brent Mayo, Doug Harmon and Jordan Roeschlaub. Cushman & Wakefield represented the buyer in the transaction.

August 4, 2025

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