SUGAR LAND, TEXAS — Woodside Health, a private equity healthcare real estate firm based in Cleveland, has acquired Sugar Land Physicians Center, a 60,000-square-foot medical office building located southwest of Houston. The three-story building was completed in 2014, according to LoopNet Inc. Woodside purchased the asset in a joint venture with global investment manager Heitman. The seller and sales price were not disclosed.
HOUSTON — General contractor Benchmark Houston Builders has broken ground on a 30,000-square-foot office headquarters project within East River, Midway’s 150-acre mixed-use development. The project is a build-to-suit for the U.S. subsidiary of Australian firm Anton Paar USA, which provides laboratory instruments and measuring systems. Powers Brown Architecture is designing the space. Completion is slated for next summer.
SOCIAL CIRCLE, GA. — Electric vehicle manufacturer Rivian held a groundbreaking ceremony for its $5 billion plant near Social Circle, about 44 miles east of Atlanta via I-20. The project will be situated within the 1,600-acre Stanton Springs North master-planned community. Construction is expected to begin in 2026 with customer vehicle production for the midsize, five-seater R2 SUV and R3 crossover anticipated to start in 2028. Rivian plans to develop the plant in two phases, each resulting in 200,000 units of annual capacity. The plant is expected to create 7,500 direct jobs and 8,000 indirect jobs by 2030, as well as 2,000 construction jobs, according to an analysis conducted by IMPLAN. Rivian received financing from the U.S. Department of Energy’s Advanced Technology Vehicle Manufacturing Loan Program for the manufacturing facility. The groundbreaking ceremony comes on the heels of Rivian announcing its decision to locate its East Coast headquarters at Junction Krog Street in Atlanta’s Inman Park district.
BOCA RATON, FLA. — JLL Capital Markets has brokered the $118.5 million sale of Uptown Boca, a 194,927-square-foot shopping center located at 9536-9704 Glades Road in Boca Raton. Whole Foods Market anchors the property, which was fully occupied at the time of sale to tenants including Life Time Fitness, REI, HomeSense and Sephora. Danny Finkle, Jorge Portela and Kim Flores of JLL represented the seller, a joint venture between Schmier Property Group, Giles Capital Group, Rosemurgy Properties and Wheelock Street Capital. The buyer was Stockbridge Capital Group. Uptown Boca also features 456 luxury apartment units that were not included in the transaction.
ATLANTA — Allen Morris Co. has delivered Stella at Star Metals, a 22-story apartment high-rise within the Star Metals District mixed-use development in Atlanta’s West Midtown neighborhood. Oppenheim Architecture designed the 327-unit community, which features a unit mix ranging from studios to penthouses. Monthly rental rates range from $1,670 to $7,300, according to Apartments.com. Amenities include a 52-foot entry, hotel-style lobby, rooftop pool and lounge, fitness facilities, a screening room and access to restaurants, bars and retail spaces at Star Metals.
NASHVILLE, TENN. — The Clear Blue Co. has opened Highland East, a 238-unit affordable housing community located at 301 Ben Allen Road in east Nashville. The seven-building property has direct access with the Metro Greenway and the city’s expanding trail and greenway network thanks to a partnership with Metro Parks. Highland East features a mix of one-, two- and three-bedroom units available to individuals earning up to 60 percent of the area median income (AMI). Ten units will be reserved for those earning up to 30 percent of AMI, and five units will be dedicated as permanent supportive housing to serve individuals who formerly experienced homelessness. Amenities include a clubhouse, business center, playground, indoor fitness center, outdoor fitness circuit, dog park, art installations and decks with fire pits and grilling areas. Clear Blue broke ground on Highland East in June 2023. The development is supported by Amazon, the Tennessee Housing Development Agency through Low-Income Housing Tax Credits (LIHTC) generating $36.7 million in equity and construction and LIHTC equity investment from JP Morgan. Regions Bank provided a $24.8 million construction loan and a $23.6 million equity bridge loan for the project. Walker & Dunlop is also providing permanent financing. The Metropolitan …
ATLANTA — CBRE has provided a $43.5 million loan for the refinancing of Vibe at Echo Street West, a 292-unit apartment community located at 750 Echo St. NW in Atlanta’s West Midtown district. Completed in 2023, the property is part of the larger Echo Street West mixed-use development and fronts the Atlanta BeltLine’s Westside BeltLine Connector. Blake Cohen of CBRE’s Atlanta Multifamily Debt & Structured Finance team originated the Fannie Mae loan on behalf of the borrowers, Lincoln Property Co. and Bridge Investment Group. The financing will pay off existing debt and will support the lease-up and continued stabilization of Vibe at Echo Street West. The eight-story, wrap-style buildings offers a mix of studio, one- and two-bedroom units, with 20 percent designated as affordable housing. Amenities include a resort-style pool with cabanas, modern fitness center, business center with micro-offices, pet spa and an outdoor kitchen.
SAN DIEGO — On behalf of Sunroad Enterprises, JLL Capital Markets has arranged a $1.1 billion venture with Fairfield to capitalize a 15-property multifamily portfolio that spans six states. JLL also arranged $415 million in financing with Freddie Mac for 10 assets. The loan will be serviced by JLL Real Estate Capital, a Freddie Mac Optigo Lender. Additionally, $250 million of financing was secured from accounts managed by KKR. The assets, which represent a portion of Sunroad’s overall portfolio, were assembled over a six-year period. Totaling 3,830 units, the portfolio consists of six Class A core assets and nine value-add assets with ongoing renovations underway. The assets have an average vintage of 2011 and are a mix of 65 percent garden-style communities and 35 percent mid-rise communities, with six in Arizona, one in Nevada, three in Colorado, two in North Carolina, two in South Carolina and one in Georgia. Aldon Cole, Roberto Casas, Tim Wright and Bharat Madan of JLL handled the majority of the transactions, while Mark Wintner of JLL handled the Colton Apartments asset in Henderson, Nev.
CHANDLER AND MESA, ARIZ. — Arcadia Capital Group and Platform Ventures have completed the disposition of two build-to-rent (BTR) Class A communities, totaling 91 homes, in metro Phoenix. Tricon Residential acquired the assets for $44.1 million. The transactions include the $23 million sale of Bower Hudson Crossing, a 43-unit BTR community in Chandler; and the $21.1 million sale of Bower Gateway, a 48-unit BTR property in Mesa. The blended price per unit was $485,164. Built in 2024, Bower Hudson Crossing features three- and four-bedroom homes with modern interiors, private backyards and two-car garages pre-wired for electric vehicle chargers. At the time of sale, the property was fully occupied. Built in 2022, Bower Gateway offers three- and four-bedroom residences with contemporary designs, private yards, two-car garages, grass courtyards and landscaped walking trails. Ryan Boyle, Trevor Koskovich, Jesse Hudson and Logan Baca of Northmarq represented the sellers in the deal.
PHOENIX — Northmarq has arranged the sale of U@19th, a real estate owned (REO) multifamily property in midtown Phoenix. BrightSpire Capital sold the asset to The Eiders Co. for $36 million. Jesse Hudson, Trevor Koskovich, Ryan Boyle and Logan Baca of Northmarq represented the seller in the transaction. Built in 1973 and renovated in 2024, U@19th features 236 one-, two- and three-bedroom apartments averaging 875 square feet. The recent renovations include extensive exterior upgrades and partially completed interior updates, including stainless steel appliances, wood-inspired flooring, resurfaced quartz countertops, new white cabinet fronts with chrome pull handles, subway tile backsplash and upgraded hardware, lighting and paint.