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Build-to-RentDevelopmentMultifamilySingle-Family RentalSouth CarolinaSoutheast

Middle Street, Singerman to Develop 71-Unit Build-to-Rent Community in Charleston

by John Nelson

CHARLESTON, S.C. — Locally based Middle Street Partners and Chicago-based Singerman Real Estate plan to develop Atlantic St. Thomas, a new 71-unit build-to-rent (BTR) residential community in Charleston. The townhome property will be located at 2815 Clements Ferry Road on Charleston’s Daniel Island. Atlantic St. Thomas will have an amenity package that includes a resort-style pool, clubhouse, fitness center, working space and a lounge. The property will include two- and three-bedroom, three-story townhomes ranging in size from 1,565 to 2,500 square feet. Units will include single and two-car garages, rooftop terraces and dens in select three-bedroom townhomes. The co-developers will welcome residents at Atlantic St. Thomas, which represents Middle Street’s first BTR community, in spring 2027. The project team includes general contractor Middle Street Construction, civil engineer Sitecast, land planner Cissell Design Studio, landscape architect Studioforme and architect Terminus Design Group.

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2748-Grant-Ave.-Philadelphia
DevelopmentIndustrialNortheastPennsylvania

Crow Holdings to Develop 103,500 SF Spec Industrial Project in Northeast Philadelphia

by Taylor Williams

PHILADELPHIA — Crow Holdings Development will build a 103,500-square-foot speculative industrial project at 2748 Grant Ave. in northeast Philadelphia. The single-story warehouse and distribution building will feature 32-foot ceiling heights, 32 dock positions, two drive-in doors and parking for 65 vehicles. M+H Architects is designing the project, and BH Cos. is providing engineering services. Oline Construction is the general contractor. JLL brokered the land deal, the seller in which was James D. Morrissey Inc. Construction, and has also been retained as the leasing agent. Completion is slated for mid-2026.

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Broadstone-Los-Feliz-Los-Angeles-CA
CaliforniaLoansMultifamilyWestern

Mesa West Capital Provides $43.5M Loan for Refinancing of Apartment Community in Los Angeles

by Amy Works

LOS ANGELES — Mesa West Capital has provided a joint venture between Alliance Residential and PCCP with $43.5 million in short-term, first mortgage debt to refinance Broadstone Los Feliz, a multifamily property located at 1800 N. New Hampshire in Los Angeles’ Los Feliz neighborhood. Troy Tegeler, Trevor Breaux, Ryan Greer and CJ Connolly of CBRE arranged the five-year, floating-rate loan. Built in 1986, Broadstone Los Feliz offers 134 studio, one- and two-bedroom apartments, a rooftop lounge and barbecue area, an indoor swimming pool and spa, a fitness center and electric vehicle charging stations. At the time of financing, the property was 95 percent occupied. Since acquiring the asset in 2022, the owners have invested more than $1 million to upgrade the common areas and renovate the interiors of 33 units with hardwood flooring, quartz countertops, stainless steel appliances and new wood-grain cabinets. The sponsor plans to renovate the remaining 45 units within the next two years.

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AcquisitionsConnecticutMultifamilyNortheastSeniors Housing

Benchmark Senior Living, National Development Buy 71-Unit Complex in Newtown, Connecticut

by Taylor Williams

NEWTOWN, CONN. — A partnership between an affiliate of Benchmark Senior Living and National Development has purchased Church Hill Village, a 71-unit seniors housing property in Newtown, located in southern Connecticut’s Fairfield County. The facility offers independent living, assisted living and memory care services. Amenities include several dining venues, a creative studio, entertainment room, hair salon, physical therapy room and a putting green. Webster Bank financed the acquisition. The seller and sales price were not disclosed. The new ownership has rebranded the facility as Benchmark at Newtown.

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Bear-Creek-Plaza-Medford-OR
AcquisitionsOregonRetailWestern

Bear Creek Partners Divests of 189,670 SF Shopping Center in Medford, Oregon

by Amy Works

MEDFORD, ORE. — Bear Creek Partners I LLC has completed the disposition of Bear Creek Plaza, a shopping center in Medford. Bear Creek CV LLC acquired the asset for $25.2 million. Built in 1977 on nearly 17 acres, Bear Creek Plaza offers 189,670 square feet of retail space. Current tenants include Bi-Mart, Dollar Tree, Crunch Fitness, McDonald’s, Wendy’s, Carl’s Jr., First Interstate Bank, OneMain Financial, Metro PCS, Papa Murphy’s and Sally Beauty Supply. Clayton Brown and Ruthanne Loar of Marcus & Millichap represented the seller and procured the buyer in the deal. David Tabata of Marcus & Millichap served as broker of record in Oregon.

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Daybreak-Corporate-Center-South-Jordan-UT
AcquisitionsOfficeUtahWestern

Fort Street Partners Buys 177,000 SF Daybreak Corporate Center in South Jordan, Utah

by Amy Works

SOUTH JORDAN, UTAH — Fort Street Partners has purchased Daybreak Corporate Center, a multi-tenant office building in South Jordan. Situated within the 4,000-acre master-planned Daybreak community, Daybreak Corporate Center offers 177,000 square feet of office space. Built in 2008, the asset features a 512-stall structured parking garage, a rooftop patio and walkable access to restaurants, retail, trails and the Daybreak Beach Club. At the time of sale, the property was 95.4 percent occupied. Current tenants include Rio Tinto, Travelpass Group and Enova. Fort Street Partners plans to renovate and lease the remaining space within the building.

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Alliance-Residential-Apts-Lakewood-WA
AcquisitionsDevelopmentMultifamilyWashingtonWestern

Alliance Residential Acquires 9.7-Acre Development Site in Lakewood, Washington

by Amy Works

LAKEWOOD, WASH. — Alliance Residential has purchased a 9.7-acre development site within Lakewood Towne Center, a retail destination in Lakewood. The site is slated for the development of a 285-unit Class A apartment community that will include units under the City of Lakewood’s Multifamily Tax Exemption program. The new multifamily property will help address the growing housing demand in Lakewood, where only one new 100-plus market-rate apartment development has been delivered since 2011. Ross Klinger and Austin Kelley of Kidder Mathews represented the undisclosed seller in the deal. Terms of the transaction were not disclosed.

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CaliforniaDevelopmentRestaurantRetailWestern

Prime Pizza to Open Five New Restaurants in Southern California

by Amy Works

LOS ANGELES — Los Angeles-based Prime Pizza, a rapidly expanding New York-style pizza restaurant, has signed leases for five new locations in Southern California. The locations are at Alicia Landing Shopping Center in Mission Viejo; Gaslight Square in Brea; Farmers & Merchants Bank Center in Torrance; and two freestanding locations, one in Thousand Oaks and another in Valley Village, Calif. Mark Seferian of RCI Brokerage represented Prime Pizza in the transactions, which ranged from 1,256 to 1,951 square feet. The Mission Viejo and Brea locations are slated to open in the fourth quarter of 2025, while the Valley Village, Thousand Oaks and Torrance locations will open during the second quarter of 2026.

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Affordable HousingDevelopmentMultifamilyNew JerseyNortheast

Walters Completes 70-Unit Affordable Housing Project in Lacey, New Jersey

by Taylor Williams

LACEY, N.J. — New Jersey-based developer Walters has completed Cornerstone at Lacey III, a 70-unit affordable housing project located near the Jersey Shore. The building is part of the larger development that consists of 23 buildings totaling 188 units in one-, two- and three-bedroom floor plans. Residences are reserved for households earning 60 percent or less of the area median income. Amenities include a clubhouse with computer workstations, fitness center, children’s tot lot, barbecue and picnic area and a basketball half court. Residents also have access to a staffed social services coordinator upon request.

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AcquisitionsIndianaLoansMidwestMultifamily

Greystone Structures $31.3M in Acquisition Financing for Multifamily Property in Merrillville, Indiana

by Kristin Harlow

MERRILLVILLE, IND. — Greystone has provided a $26.3 million Freddie Mac loan to finance the acquisition of Tiberon Trails Apartments in Merrillville. Additionally, Greystone Equity Services brought in MORE Capital, an affiliate of Morgan Properties, as a preferred equity provider. MORE Capital supplied a nearly $5 million preferred equity loan in conjunction with the Freddie Mac financing. Eric Rosenstock of Greystone originated the Freddie Mac loan on behalf of the borrower, Bayshore Properties. The loan features a fixed interest rate over a five-year term with a 30-year amortization and two years of interest-only payments. Tiberon Trails comprises 374 units with a mix of studio, one-, two- and three-bedroom layouts. Amenities include a playground and fitness center.  

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