WORCESTER, MASS. — Kelleher & Sadowsky Associates Inc. has arranged $14 million in financing for a multifamily conversion project in downtown Worcester. The borrower, CMK Development Partners, will use the proceeds to acquire and convert a historic three-building complex known as One Exchange Place into 44 apartments and ground-floor retail space. Units will feature a mix of floor plans, and nine residences will be set aside as affordable housing. Amenities will include a fitness center, business center and a revitalized outdoor courtyard. Meghan Liddy and Chris Naff led the debt placement for Kelleher & Sadowsky. The direct lender was not disclosed.
NEW BEDFORD, MASS. — CBRE has brokered the $12.2 million sale of Fieldstone Marketplace, a 192,003-square-foot shopping center in New Bedford, located at the base of Cape Cod. Restaurant Depot and discount retailer Ollie’s anchor the newly repositioned center. Nat Heald, Connor Scott and Jordana Roet of CBRE represented the seller in the transaction and procured the buyer. Both parties requested anonymity.
LEOMINSTER, MASS. — GSC USA has renewed its 231,000-square-foot industrial lease in Leominster, a western suburb of Boston. The plastics injection molding company will remain at the building at 175 Pioneer Drive for an unspecified term. Steve Woodworth and Mitch Kumin of Savills represented GSC USA in the lease negotiations. The landlord, Arris Partners, was self-represented.
ATLANTA — Andrew Layton, chief acquisition officer for Atlanta-based Student Quarters, knows that from a commercial real estate investment standpoint, the student housing sector possesses a key advantage: the relative permanence of many flagship universities nationally. “There is no risk of the University of Kentucky uprooting itself from Lexington and moving to Frankfort anytime soon. In the conventional multifamily world, neighborhoods come, neighborhoods go. What was hot yesterday may not be so hot today. What was cold yesterday may be the flaming new market tomorrow. That’s just not the case in what we do,” emphasized Layton, who leads the origination and underwriting efforts involving both the acquisition and development of student housing assets for the Student Quarters’ investors. “There’s a sense of permanence [surrounding these academic institutions], and if you can get on the ground and do your due diligence, you can figure out relatively easily where things work and where things don’t work in a student housing market.” Student Quarters owns and operates over 13,000 beds nationally, stretching east to west from Clemson, South Carolina, to Tempe, Arizona; and north to south from East Lansing, Michigan, to Tallahassee, Florida. The insights from Layton, who’s worked in the student housing …
“If you can make it in New York, you can make it anywhere.” Martin Scorsese, Frank Sinatra and Jay-Z probably weren’t thinking about brick-and-mortar retail real estate when they penned and recorded the iconic song lyric, but that doesn’t make the expression any less applicable to that particular subject. The notion of merchandisers, restaurateurs and entertainment operators needing a certain and precise combination of savvy, moxie and pizzazz to succeed in New York City isn’t so much new as it is resurrected. That’s because it’s only been a few years since the asset class was left for dead. But retail resiliency is now an established and proven narrative that underpins commercial real estate investment. “Brick-and-mortar retail is truly here to stay,” proclaims Beth Rosen, executive vice president at RIPCO Real Estate. “Over the years, retailers have gotten so much more savvy and are now entering into smarter deals. There’s a lot of positive sentiment about the sector, which has seen its share of ups and downs. Rents got really out of control at one point, and if the economy wasn’t strong, retailers didn’t survive. But now, it’s really more about partnerships between tenants and landlords.” Limited Options That said, owners …
NEW YORK CITY — Global alternative investment firm Investcorp has completed the $400 million acquisition of an industrial portfolio located in markets across the Eastern and Western United States. The seller was not disclosed. Totaling 2.6 million square feet, the portfolio comprises 35 buildings across seven markets. Properties in the portfolio include a 76,000-square-foot, two-building portfolio in Philadelphia; a 44,000-square-foot building in New Jersey; 92,000 square feet across two buildings on Long Island; a 1.3 million-square-foot logistics portfolio in Sacramento, Calif.; 156,000 square feet across two buildings in Tampa, Fla.; a 115,000-square-foot, three-building portfolio in South Florida; and a 12-building, 814,000-square-foot portfolio on Atlanta’s north side. Average occupancy across the portfolio was at 97 percent as of October. According to Green Street Advisors, each of the seven markets associated with the portfolio saw strong demand growth in the industrial sector during the third quarter of 2025. The firm noted that new supply in these markets makes up less than 1.3 percent of current inventory. “Despite shifting trade dynamics and supply chain disruptions across the country, the U.S. industrial sector has retained its foundational strength,” says Herb Myers, global head of real assets at Investcorp. “This is particularly true for these and similar …
CLEAR LAKE, TEXAS — A joint venture between Houston-based OHT Partners and a fund advised by Crow Holdings Development has broken ground on a 336-unit multifamily project in Clear Lake, located southeast of Houston. Designed by Meeks + Partners, the property will offer one- or two-bedroom units that will range in size from 689 to 1,072 square feet. Amenities will include a pool, coworking space, fitness center, clubroom with a kitchen, package lockers and a dog park/pet spa. Construction is slated for a third-quarter 2027 completion.
LUBBOCK, TEXAS — Walker & Dunlop has brokered the sale of Raiders Walk, a 276-bed student housing community located adjacent to the Texas Tech University campus in Lubbock. Developed in 1975, the community offers 196 units in one- and two-bedroom configurations. Shared amenities include two pools, a fitness center and a clubroom. Chris Epp, Craig Miller, Matthew Chase, Holden Penn, Ben Sarna, Sarah Foronda and Naomi Bludworth of Walker & Dunlop represented the seller, Capstone Real Estate Investments, in the transaction. The buyer was PTLA Real Estate Group.
WASKOM, TEXAS — Dallas-based brokerage firm Younger Partners has arranged the sale of an industrial development site in Waskom, located near the Texas-Louisiana border. The site spans 20 acres on the north side of I-20. Ben McCutchin of Younger Partners represented the seller, Johnson Investments, in the transaction. The buyer, JF3 Properties LLC, plans to construct an equipment yard for the existing business on the site.
KINGWOOD, TEXAS — TCGU has signed a 10,412-square-foot industrial lease in Kingwood, located north of Houston. The gaming retailer is taking space at 22001 Northpark Drive, a building that according to LoopNet Inc. was completed in 1991 and renovated in 2012. Steven Hazen and Garth Plyler of Oxford Partners represented the tenant in the lease negotiations. Kurt Weidmann of Old Vine Property Group internally represented the landlord.