Property Type

Brisky Net Lease Arranges $16.4M Sale of Industrial Property in Evansville, Indiana

by Kristin Harlow June 9, 2025

EVANSVILLE, IND. — Brisky Net Lease has arranged the $16.4 million sale of a 150,000-square-foot industrial building leased to Windstream Communications LLC in Evansville. Built in 2022 and located at 14616 Foundation Ave., the property is situated within the nearly fully developed Vanderburgh Industrial Park. Little Rock, Ark.-based Windstream provides fiber-based broadband to residential and small business customers across 18 states. Brian Brisky of Brisky Net Lease represented the buyer, while Greg Folz of Woodward Commercial Realty Inc. represented the seller.

June 9, 2025

Leasing Activity Midwest Retail Wisconsin

Sierra to Open 23,592 SF Store in Oshkosh, Wisconsin

by Kristin Harlow June 9, 2025

OSHKOSH, WIS. — Sierra, an outdoor apparel and gear retailer owned by TJX Cos., has signed a lease to open at Oshkosh Center II in Oshkosh, which is situated along Lake Winnebago. The tenant is taking the 23,592-square-foot space formerly home to OfficeMax. Owned by a Midland Atlantic Properties investment fund, Oshkosh Center II is located at 1910 S. Koeller St. and totals 220,000 square feet. Anchor tenants include Target and Pick ‘n Save. Tony Colvin and Dan Cohen of Mid-America Real Estate represented Sierra, which now operates 10 locations in Wisconsin.

June 9, 2025

Acquisitions Affordable Housing California Development Multifamily Western

Community HousingWorks Buys Metro L.A. Apartment Complex, Plans Affordable Housing Conversion

by Amy Works June 9, 2025

ROWLAND HEIGHTS, CALIF. — Community HousingWorks (CHW) has acquired NOVO Apartments in Rowland Heights and will convert the market-rate property into affordable housing. Northmarq arranged the $38.3 million sale as well as a $24.9 million fixed-rate, Freddie Mac acquisition loan for CHW. Stratford Partners Real Estate was the seller. NOVO was constructed in 1974. Additional financing details for the conversion were not disclosed, but CHW often uses its own equity and 4 percent low-income housing tax credits (LIHTC) to fund developments, according to nonprofit directory GuideStar. Rowland Heights is about 23 miles east of Los Angeles. Rent restrictions were not disclosed. Northmarq’s Westlake Village Multifamily Investment Sales team, led by Vince Norris, Mike Smith, Jim Fisher and Tommy Yates, represented Stratford Partners in the transaction. Northmarq’s Newport Beach Debt & Equity team, led by Scott Botsford, Joe Giordani and Brendan Golding, arranged the loan for CHW.

June 9, 2025

Affordable Housing California Development Multifamily Western

USA Properties Fund Starts Construction on Terracina at Wildhawk Affordable Housing Community in Sacramento

by Amy Works June 9, 2025

SACRAMENTO, CALIF. — USA Properties Fund has started construction on Terracina at Wildhawk, an affordable housing community located at 9750 Gerber Road in Sacramento. Terracina at Wildhawk will offer 145 one-, two- and three-bedroom apartments, with completion slated for summer 2026. Residents must meet income requirements, earning 30 percent to 70 percent of the median income for Sacramento County. Apartments will feature energy-efficient appliances and light fixtures, ceiling fans and low-flow faucets, showers and toilets. Amenities will include a community room, fitness center, swimming pool, dog park and EV (electric vehicle) charging stations. The property will also feature a $3.3 million photovoltaic solar system that will help offset electrical use for residents. Terracina at Wildhawk will include LifeSTEPS, a social services provider that offers a range of services for residents from health living and financial planning classes to programs for children. The $67.9 million development is being funded by a public-private partnership that includes the Sacramento Housing and Redevelopment Agency (SHRA), Sacramento County, JPMorgan Chase and WNC Inc. Sacramento County contributed $1.5 million to offset impact fees for the project, and SHRA provided a $9.2 million loan and bond issuance.

June 9, 2025

Colorado Development Multifamily Seniors Housing Western

Headwaters Group Launches New Aspendale Active Adult Brand

by Amy Works June 9, 2025

DENVER — Headwaters Group, a Denver-based real estate owner and developer, has launched a new active adult brand. Dubbed Aspendale, the brand will serve residents age 55 and older at a portfolio of communities across Colorado and the western United States. The current Aspendale portfolio comprises four communities scheduled to open between late 2025 and mid-2026. Located in Centennial, Colo., Aspendale Centennial will total 200,000 square feet and 172 apartments. Now leasing, the property is scheduled to open in late 2025. Aspendale Northglenn in Northglenn, Colo., is also currently leasing and totals 172 units. The property will open in early 2026 and will include an 8,800-square-foot clubhouse. Aspendale Littleton in Littleton, Colo., is scheduled for completion in mid-2026, with leasing scheduled to begin this fall. Upon completion, the property will feature 190 apartments and a two-story, 10,000-square-foot clubhouse. In Scottsdale, Ariz., Aspendale Scottsdale is scheduled to begin move-ins in October 2026. In addition to 161 apartment units, the community will feature 10 single-story duplex cottages. Amenities at Aspendale communities include fitness centers, outdoor turf areas, art studios, card rooms, swimming pools, dining courtyards and dog parks.

June 9, 2025

Loans New York Northeast Office Top Stories

Fisher Brothers, Blackstone Receive $850M CMBS Refinancing for Midtown Manhattan Office Tower

by Taylor Williams June 9, 2025

NEW YORK CITY — Fisher Brothers and Blackstone Real Estate have received $850 million in CMBS debt for the refinancing of 1345 Avenue of the Americas, a 50-story office tower in Midtown Manhattan. Morgan Stanley, J.P. Morgan Chase and Citibank provided the debt to the locally based co-investors. The refinancing was executed as part of a larger recapitalization of the 2 million-square-foot building, which also saw funds backed by Blackstone acquire a 46 percent interest in the property at a valuation of $1.4 billion. Fisher Brothers also increased its majority ownership of the asset as part of the transaction. The building was 92 percent leased at the time of the loan closing, with nearly 1.1 million square feet of leases signed since 2023. Tenants include the Intercontinental Exchange, Equitable Financial, Fortress Investment Group and law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP. Fisher Brothers completed a $120 million capital improvement project at 1345 Avenue of the Americas in 2021. Designed by Skidmore, Owings & Merrill, the project upgraded the building’s exterior, redesigned the lobby with touchless elevators and added a new amenity floor with flexible meeting space, a tenant lounge, wellness center and an indoor terrarium. “The completion of …

June 9, 2025

Affordable Housing Georgia Market Reports Multifamily Southeast Southeast Market Reports

Atlanta Multifamily Market: Overcoming Historic Supply and Still a Winner

by John Nelson June 9, 2025

Five years after the world shut down, the national multifamily market is still on a roller coaster ride. After the highs of 2021 quickly turned into the lows of 2023, the dust settled in 2024. Today, the market has begun to reactivate while continuing to grapple with the aftereffects of the run-up. While national multifamily transactions soared 22 percent in 2024, Atlanta transaction volume was flat year-over-year as the investment community shifted a favorable view of Atlanta toward ambivalence. Perceptions surrounding new supply and non-paying tenants contributed to the city falling out of vogue with some investors, but Atlanta is a resilient market. With new deliveries having peaked in 2024 and property-level fundamentals rapidly turning the corner, Atlanta may be beaten up, but the light at the end of the tunnel is coming into focus: Atlanta is still a long-term winner. Days of peak supply are over While Atlanta experienced a record 24,000 units delivered in 2024, that figure represents just 4 percent of its total inventory. When compared to other Sun Belt markets like Charlotte (10 percent of total inventory delivered in 2024), Nashville (8 percent) and Dallas (5 percent), the number doesn’t seem as jarring. Looking ahead to …

June 9, 2025

Development Industrial Texas

Urban Logistics Realty Breaks Ground on 542,851 SF Spec Project in Northwest Houston

by Taylor Williams June 6, 2025

HOUSTON — Dallas-based Urban Logistics Realty has broken ground on The Brickyard, a 542,851-square-foot speculative project in northwest Houston. The Brickyard will be a three-building development at 5020 Acorn St. whose structures will have a mix of configurations, as well as ample car and trailer parking. Urban Logistics Realty is developing the project in partnership with Principal Asset Management. Other project partners include Powers Brown (architect), Harvey Builders (general contractor), Kimley-Horn (civil engineer), Pinnacle (structural engineer), First United Bank & Trust (construction lender) and Stream Realty Partners (leasing agent). Completion is slated for mid-2026.

June 6, 2025

Acquisitions California Office Western

Uncommon Developers Acquires Office Tower in Downtown Los Angeles for $210M

by Amy Works June 6, 2025

LOS ANGELES — Uncommon Developers has acquired 601 S. Figueroa Street, an office tower in downtown Los Angeles, for $210 million, or $201 per square foot. Built in 1990, the 52-story, 1 million-square-foot property features dual open-air lobbies, a tenant lounge, fitness center, 50 electric vehicle stalls and executive valet. Sean Fulp, Mark Schuessler and Jordan Garcia of Colliers represented the buyer, while Newmark’s Kevin Shannon, Ken White, Rob Hannan, Laura Stumm and Michael Moll represented the undisclosed seller in the deal. Uncommon Developers has tapped Colliers to handle leasing and property management of the asset. Matthew Heyn and Ian Gilbert of Colliers will lead leasing efforts, while Kevin Rude and Tina Minook of Colliers will lead full-service property management for the building.

June 6, 2025

Development Nevada Retail Western

City of Henderson Approves Development Plans for $50M Retail Project in Metro Las Vegas

by Amy Works June 6, 2025

HENDERSON, NEV. — The City of Henderson has approved development plans for The Cliff, a $50 million open-air retail and dining destination located in Henderson, roughly 15 miles outside Las Vegas. A 100,000-square-foot office complex on the property will be redeveloped into a pedestrian-friendly, retail-oriented environment that will feature landscaped courtyards, breezeways, public art, live music and a kiosk village named “The Yard.” Serving as the gateway to the Green Valley Ranch master-planned community, The Cliff will be Henderson’s first retail development in more than 20 years. Construction is expected to begin in October, with a grand opening scheduled for fall 2026. A partnership between San Diego-based CAST and Los Angeles-based Partners Capital will be leading the project. Dubbed as Southern Nevada’s first “anti-mall,” the project aims to replace the traditional strip mall and big-box retail model with a walkable, community-centric gathering place.

June 6, 2025

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