Property Type

City Office REIT Enters Into $1.1B Merger Agreement, Will Go Private

by Hayden Spiess July 24, 2025

DALLAS AND VANCOUVER — City Office REIT (NYSE: CIO), a Canadian company focused on the acquisition, ownership and operation of office properties in Sun Belt markets in the United States, has entered into a merger agreement valued at $1.1 billion. Under the terms of the agreement, MCME Carell Holdings LP and MCME Carell Holdings LLC — collectively a joint venture between South Florida-based firms Elliott Investment Management LP and Morning Calm Management LLC — will acquire all issued and outstanding shares of City Office REIT common stock for $7 per share in cash. The company’s stock price closed on Tuesday, July 23 at $5.56 per share, roughly the same as a year ago. City Office REIT’s current portfolio comprises 54 office buildings totaling roughly 5.4 million square feet of net rentable space in the Dallas, Denver, Orlando, Phoenix, Portland, Raleigh, San Diego, Seattle and Tampa markets. The company’s U.S. headquarters is located in Dallas. Terms of the merger agreement include the sale of City Office’s Phoenix portfolio. Upon close, City Office will become a private company and its shares will no longer trade on the New York Stock Exchange. “After conducting an extensive process to explore potential strategic alternatives, we …

July 24, 2025

Development Multifamily Texas

StreetLights Residential Breaks Ground on 410-Unit Phase III of Viridian Apartments in Arlington

by Taylor Williams July 23, 2025

ARLINGTON, TEXAS — Dallas-based StreetLights Residential has broken ground on Phase III of Viridian, a multifamily project in Arlington that will add 410 units to the local supply. Apartments will feature studio, one- and two-bedroom floor plans, and this phase will also include 68 townhomes. The amenity package will comprise a central pool courtyard; fitness center with outdoor exercise space; a coworking lounge with private work suites; an outdoor event space with grilling and dining stations; and a clubhouse with a billiards room and card lounge. StreetLights Creative Studio is the architect of record for the project, and SLR Construction LLC is the general contractor. Both companies are affiliates of the owner. A tentative completion date was not announced. StreetLights completed The Louise, a 343-unit development that marked Phase II of Viridian, in late 2022. Phase I, a 340-unit community known as The Jackson, opened in early 2021.

July 23, 2025

Loans Multifamily Texas

JLL Provides Agency Financing for 382-Unit Apartment Community in Katy, Texas

by Taylor Williams July 23, 2025

KATY, TEXAS — JLL has provided an undisclosed amount of Freddie Mac financing for The Reserve on Kingsland, a 382-unit apartment community in the western Houston suburb of Katy. Built in 2020 and formerly known as Lenox Reserve, the property features 11 three-story buildings with one-, two- and three-bedroom units that have an average size of 882 square feet. Amenities include pools, a fitness center, package lockers, a dog park, business center, demonstration kitchen and a game room. Andy Scott, Michael Cosby, Bo Beidleman, Blake Morrison and Aaron Craig of JLL originated the seven-year, fixed-rate loan on behalf of the owner, Price Realty Corp.

July 23, 2025

Acquisitions Mississippi Retail Southeast

CBL Properties Sells 621,000 SF Promenade Shopping Center in D’Iberville, Mississippi for $83.1M

by John Nelson July 23, 2025

D’IBERVILLE, MISS. — CBL Properties, a publicly traded owner and manager of malls and shopping centers, has sold The Promenade, a 621,000-square-foot power shopping center located in D’Iberville, roughly four miles north of Biloxi, Miss. An undisclosed investor purchased the center for $83.1 million. Built in 2009 by CBL Properties, The Promenade is anchored by national retailers including Target, Kohl’s, Best Buy, Dick’s Sporting Goods, Ulta Beauty, PetSmart and Marshall’s. Restaurants at The Promenade include Chick-fil-A, Newk’s Express Café, Buffalo Wild Wings and Olive Garden. According to the Biloxi SunHerald, the Target at The Promenade was the first Target to open in southern Mississippi.

July 23, 2025

Acquisitions Georgia Retail Southeast

Invesco Purchases 317,201 SF Shopping Center in Buford, Georgia for $82M

by John Nelson July 23, 2025

BUFORD, GA. — Atlanta-based Invesco Real Estate has acquired Georgia Crossing, a 317,201-square-foot power shopping center located in Buford, roughly 38 miles northeast of Atlanta, for $82 million. Situated across from the 1.7 million-square-foot Mall of Georgia, Georgia Crossing was fully leased to a mix of tenants including T.J. Maxx/HomeGoods, Nordstrom Rack, Best Buy, Hobby Lobby, Staples, Cavender’s Boot City and Ulta Beauty at the time of sale. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL’s Investment Sales and Advisory team represented the seller, Columbus, Ohio-based Washington Prime Group, in the transaction.

July 23, 2025

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 94-Unit Apartment Complex in West Dallas

by Taylor Williams July 23, 2025

DALLAS — Marcus & Millichap has brokered the sale of Hart House, a 94-unit apartment complex in West Dallas. Built in the early 1960s, Hart House is a newly renovated property that consists of two buildings that house one- and two-bedroom units. Amenities include a pool, courtyards and onsite laundry facilities. Ford Braly and Al Silva of Marcus & Millichap represented the seller, a private out-of-state investor, in the transaction and procured the buyer, a local operator. Both parties requested anonymity

July 23, 2025

Acquisitions Healthcare Maryland Office Southeast

IPA Brokers $27.5M Sale of Medical Office Building in Greenbelt, Maryland

by John Nelson July 23, 2025

GREENBELT, MD. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $27.5 million sale of Maryland Trade Center III, a 192,000-square-foot medical office building in Greenbelt, a suburb of Washington, D.C. Robert Filley of IPA, along with Chez Eider of Marcus & Millichap, represented the seller, an entity doing business as Greenbelt Trade Center LLC. The duo also procured the buyer, CPF-HCRE – Greenbelt LLC, an affiliate of Chicago Pacific Founders. Brian Hosey served as Marcus & Millichap’s broker of record in Maryland for the transaction. Completed in 1989, Maryland Trade Center III is situated across from the Greenbelt Center shopping mall and within a half-mile of Luminis Health’s hospital and long-term recovery care center. Luminis Health recently selected the Class A building for its expansion of outpatient services. The property was 75 percent leased at the time of sale to tenants including Luminis Health, Greenbelt Oncology, Absolute Care of Maryland, LabCorp, Community Radiology Associates, Anne Arundel Dermatology and Health First Medical Group. Maryland Trade Center III has been upgraded in recent years with a new lobby and systems upgrades. Amenities include a two-story atrium lobby, tenant-only fitness center and a daycare facility.

July 23, 2025

Acquisitions District of Columbia Office Southeast

In-Rel Properties Acquires 130,000 SF Office Building in D.C.

by John Nelson July 23, 2025

WASHINGTON, D.C. — In-Rel Properties, a real estate investment and management firm based in Lake Worth Beach, Fla., has purchased a nearly 130,000-square-foot office building located at 2033 K St. NW in Washington, D.C.’s Golden Triangle district. The seller and sales price were not disclosed. In-Rel has tapped Carroll Cavanagh, Dimitri Hajimihalis and Emily Eppolito of CBRE to spearhead the leasing campaign at 2033 K Street. Renovated in 2019, the eight-story office building features a new lobby, fitness facility and conference center. In-Rel plans to install “town hall” speculative suites on the second and third floors to boost occupancy at the office building, which has a block of up to 60,000 square feet of contiguous space available for lease.

July 23, 2025

Florida Leasing Activity Restaurant Retail Southeast

New Retailers, Restaurants Lease Space on Lincoln Road in Miami Beach

by John Nelson July 23, 2025

MIAMI BEACH, FLA. — The Lincoln Road Business Improvement District (BID) has announced a new wave of retailers and restaurants opening on Lincoln Road, the retail high street of Miami Beach. The new concepts include All’Antico Vinaio, an Italian sandwich concept that will occupy 1,793 square feet at 647 Lincoln Road; Che by Chelsey, an apparel concept that opened its 675-square-foot boutique at 830 Lincoln Road in May; and Davinci Gelato, which opened its 1,350-square-foot gelato shop at 645 Lincoln Road in May. Other newcomers will include Prince Street Pizza and Negroni Caffe & Sushi Bar, which will open before the end of the year, as well as Noble 33’s Mediterranean dining concept Meduza Mediterrania, which will open in 2026. Additionally, Victoria’s Secret and PINK have relocated to a newly built-out space spanning 7,500 square feet at 900-904 Lincoln Road, and Beverly Hills-based Alo Yoga will open a new flagship spanning 13,480 square feet at 100 Lincoln Road, a space that has been vacant for a few years.

July 23, 2025

Acquisitions Industrial Texas

Alterra Acquires Industrial Outdoor Storage Facility in North Houston

by Taylor Williams July 23, 2025

HOUSTON — Philadelphia-based investment firm Alterra IOS has acquired an industrial outdoor storage facility in North Houston. The 3.7-acre facility at 1960 S. Starpoint Road is adjacent to George Bush International Airport and features two warehouses totaling 17,880 square feet that are leased to national tenants in the oil and gas production and pumping services sector. Jack Zalta of KSR NY brokered the deal. The seller and sales price were not disclosed.

July 23, 2025

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