Thursday, April 23, 2026
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Affordable HousingDevelopmentMidwestMultifamilyWisconsin

McShane to Build 76-Unit Affordable Housing Community in Madison, Wisconsin

by Kristin Harlow

MADISON, WIS. — Volker Development has selected McShane Construction Co. to build Kelly Station, a 76-unit affordable housing community in Madison. The project marks Fond Du Lac, Wis.-based Volker’s first in Dane County and its 27th development in Wisconsin. Kelly Station will feature a five-story, podium-style building with four stories of wood framing atop an above-grade precast parking garage. Amenities will include a second-floor roof amenity plaza, fifth-floor clubroom and rooftop deck, a fitness center, community room and local community service organization suite. The property will also feature an onsite Madison BCycle station. The project was designed to achieve Wisconsin Green Built Homes certification. A rooftop solar array will help offset electricity usage in the building’s common area and a “blue roof” system, an advanced stormwater management solution, will help reduce runoff. Completion is slated for October 2026. Knothe & Bruce Architects is the architect of record.

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AcquisitionsConnecticutMultifamilyNortheast

JLL Brokers Sale of 192-Unit Apartment Complex in Danbury, Connecticut

by Taylor Williams

DANBURY, CONN. — JLL has brokered the sale of a 192-unit apartment complex in Danbury, located along the Connecticut-New York border. Built in 1971, ReNew Danbury is a garden-style complex that offers studios, one-, two- and three-bedroom units with an average size of 988 square feet. Amenities include a pool, playground, clubhouse with a theater, game room, coffee bar and a fitness center. Steve Simonelli, Jose Cruz, Michael Oliver, Elizabeth DeVesty, Ryan Roberston, Austin Pierce and Jeremy Weinstock of JLL represented the seller, San Francisco-based investment firm FPA Multifamily, in the transaction. The buyer was private equity real estate firm Jones Street Investment Partners.

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AcquisitionsMultifamilyNew JerseyNortheast

Berkadia Negotiates Sale of 156-Unit Multifamily Portfolio in Central New Jersey

by Taylor Williams

SOMERVILLE AND NEW BRUNSWICK, N.J. — Berkadia has negotiated the sale of a portfolio of two multifamily properties totaling 156 units in Central New Jersey. The Lexington & Jefferson Apartments in Somerville was built in the 1960s and totals 118 units in one-, two- and three-bedroom floor plans. Century Apartments in New Brunswick was completed in 1969 and totals 38 units in studio, one- and two-bedroom floor plans. Nat Gambuzza and Trevor Fiebel of Berkadia represented the seller and procured both New Jersey-based buyers in the transaction. All parties requested anonymity. Berkadia also arranged acquisition financing for Lexington & Jefferson Apartments.

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DevelopmentLoansMultifamilyNew YorkNortheast

Largo Capital Arranges $41.8M Construction Loan for Upstate New York Multifamily Project

by Taylor Williams

GETZVILLE, N.Y. — Locally based financial intermediary Largo Capital has arranged a $41.8 million construction loan for a 246-unit multifamily project in Getzville, located just north of Buffalo. The project will feature a mix of studio, one-, two- and three-bedroom units in addition to traditional amenities. Ned Perlman of Largo Capital arranged the loan through an undisclosed regional bank. The name of the property and the developer were also not disclosed.

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KentuckyLoansSeniors HousingSoutheast

MonticelloAM Provides $218M Financing for Skilled Nursing Portfolio in Kentucky

by John Nelson

NEW YORK CITY — MonticelloAM has provided $218 million in financing for a skilled nursing portfolio in Kentucky. Comprising 18 facilities, the portfolio totals 1,500 beds across the commonwealth. In addition to a $179.3 million senior bridge loan and a $29 million mezzanine loan, which the undisclosed borrower plans to use to restructure and upsize existing debt, the financing includes a $10 million working capital line of credit that will be used to cover the day-to-day operational needs of the facilities. New York City-based MonticelloAM originally financed the portfolio in May 2024.

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AcquisitionsDevelopmentMarylandMixed-UseMultifamilyRetailSoutheast

EYA Buys Vacant Shopping Center in Metro D.C., Plans Residential Conversion

by John Nelson

ROCKVILLE, MD. — Locally based EYA has purchased Rockshire Village Center, a long-vacant shopping center located on a 7.3-acre site in Rockville, a suburb of Washington, D.C. The firm plans to convert the retail center into a walkable residential neighborhood comprising 60 residential units (31 single-family detached homes and 29 townhomes), as well as 5,200 square feet of commercial/retail space and a community gathering space. Fifteen percent of the residences will be designated as moderately priced dwelling units. Public features of the new neighborhood will include a park, playground, open lawn with seating and recreation areas, pedestrian-friendly streetscape with connections to Rockshire Community Pool and the Carl Henn Millennium Trail, 29 parking spaces for the pool and sitewide landscaping. EYA plans to begin construction in August, with final completion planned for 2027.

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DevelopmentHealthcareSoutheastVirginia

Partnership Breaks Ground on 87,790 SF Medical Office Building in Midlothian, Virginia

by John Nelson

MIDLOTHIAN, VA. — A partnership between Remedy Medical Properties, Kayne Anderson Real Estate and Bon Secours has broken ground on a new three-story, 87,790-square-foot medical office building (MOB) in Midlothian, a suburb of Richmond. The healthcare property will sit on a 7.8-acre site on the campus of Bon Secours St. Francis Medical Center. The new MOB will feature an 11,193-square-foot ambulatory surgery center that Compass Surgical Partners will operate. The design-build team for the new facility includes architect PSH Plus, general contractor Kjellstrom & Lee and civil engineer Timmons. The development team expects to complete the project in late 2026.

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AcquisitionsFloridaRetailSoutheast

O’Connor Capital Buys Shopping Center in Delray Beach, Florida for $28.8M

by John Nelson

DELRAY BEACH, FLA. — O’Connor Capital Partners has purchased Delray Corner, an 86,000-square-foot retail center located in Delray Beach, roughly eight miles north of Boca Raton, for $28.8 million. Situated on 9 acres, Michaels and CVS anchor the center, which was 96 percent leased at the time of sale. Other tenants include Hacienda Mexican Restaurant, Enterprise Rent-A-Car, Power Financial Credit Union and Taso’s Greek Taverna & Bar. Originally constructed in 1981, the property underwent significant repositioning in 2023 for the addition of the Michaels store and a Conviva Care center, as well as the construction of a new Starbucks Coffee outparcel. Douglas Mandel and Zach Levine of Marcus & Millichap’s Fort Lauderdale office represented the seller, Berta Management, and procured the buyer in the transaction.

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DevelopmentNorth CarolinaOfficeSoutheast

Dole Food Selects Swinerton to Build-Out New U.S. Headquarters in Charlotte

by John Nelson

CHARLOTTE, N.C. — Dole Food Co. has selected Swinerton for the build-out of its new U.S. headquarters within One South, a 40-story office tower in Uptown Charlotte. Charlotte-based Redline Design Group designed Dole’s office environment, which features 57 private offices, five huddle rooms, a conference room, wellness room, café, coffee bar and several lounges with a renovated elevator lobby. Dole is moving from an office about a block away, which the Irish company has occupied since moving its U.S. operations from California in 2019. The office interior build-out at One South has begun, with completion anticipated for the fall. Dole’s office comprises the whole sixth floor (23,000 square feet), which is approximately 30 percent larger than its existing footprint. Last year, Swinerton completed the demolition of the top four floors of One South, a $1 million project encompassing 88,000 square feet.

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Market ReportsMidwestMidwest Market ReportsOffice

Smart Design, Outdoor Spaces and Sustainability Help Reimagine the Office

by Kristin Harlow

By Maria Davis and Colton Rupprecht, R&R Real Estate Advisors In the real estate industry, customer expectations around office space have undergone a significant shift — both in what they need and what they want. It’s not just about square footage anymore; it’s about how that space functions, feels and aligns with the values of the companies who occupy it.  This transformation is playing out in three critical areas: the rise of small, amenity-packed spaces; a surge in outdoor-focused design that brings the comforts of home into the workplace; and a more rooted and interactive approach to sustainability.  Smarter spaces As more companies return to in-office work, many are rethinking how they use space — prioritizing flight to quality. Increasingly, customers are gravitating toward compact offices that offer high-impact amenities rather than expansive square footage. These smaller footprints are more efficient, but they also demand more thoughtful design and planning. Technology is key in amenity designing, as efficient developers are integrating infrastructure that anticipates the needs of a tech-forward workforce. Whether it’s bracketing out spaces for high-speed fiber and built-in video conferencing hubs or artificial intelligence (AI)-powered building systems that manage lighting, the design is important in making a more …

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