Tuesday, October 14, 2025
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AcquisitionsIndustrialNorth CarolinaSouth CarolinaSoutheast

Indus Realty Trust Acquires Majority Interest in 4.3 MSF Carolinas Industrial Portfolio from Childress Klein

by John Nelson

NEW YORK CITY — Indus Realty Trust, an industrial owner-operator based in New York, has purchased the majority interest in a logistics portfolio in the Carolinas from Charlotte-based Childress Klein. The 4.3 million-square-foot logistics portfolio spans 21 properties. The transaction amount was not shared, but the Indus Realty Trust investment puts the value of the portfolio at $575 million. Childress Klein will retain a minority stake and continue to operate and lease the properties. Eastdil Secured represented Childress Klein in arranging the transaction. The Carolinas portfolio was 94 percent occupied at the time of the recapitalization. Sixteen of the porftolio’s buildings are located in the metro Charlotte region and five buildings are in the greater Charleston market. The portfolio features a mix of last-mile and bulk facilities that average 205,000 square feet in size and 13 years in age.

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DevelopmentGeorgiaLeasing ActivityRetailSoutheast

EōS Fitness Plans to Open 50 Gyms Across Georgia Over Next 10 Years

by John Nelson

ATLANTA — EōS Fitness has announced plans to enter the metro Atlanta market and open 50 gyms throughout Georgia over the next 10 years. The first several gyms are scheduled to open by 2027, with each location averaging 40,000 to 50,000 square feet in size. Each EōS gym comes outfitted with strength and cardio equipment, training turf areas and recovery options including cryotherapy, cold plunges and infrared saunas. Every location also offers personal trainers, onsite staff and group classes. “Atlanta is the third-fastest-growing metropolitan area in the United States, and venturing here represents a key milestone in our long-term vision for EōS,” says Rich Drengberg, CEO of the brand. The EōS portfolio currently includes more than 175 locations open or underway in Arizona, California, Florida, Nevada, Texas and Utah. The Dallas-based company plans to surpass 250 gyms nationwide by 2030. Each new gym represents an approximately $10 million investment and creates 40 to 60 jobs.

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DevelopmentIndustrialSoutheastTennessee

Lincoln Property Co., Goldman Sachs Alternatives Break Ground on 497,160 SF Industrial Park Near Nashville

by John Nelson

HENDERSONVILLE, TENN. — Lincoln Property Co. (LPC) and Real Estate at Goldman Sachs Alternatives have broken ground on Northside Logistics Park, a five-building industrial park totaling 497,160 square feet. The co-developers recently closed on the land acquisition, which spans 45.6 acres at 157 Molly Walton Drive in Hendersonville, approximately 17 miles northeast of Nashville. Will Goodman and Jack Armstrong of CBRE brokered the land deal for the buyers and will handle the landlord leasing for the project. Each of the five buildings are designed to accommodate single or multiple tenants, with spaces ranging from 20,000 to 144,000 square feet, as well as feature 32-foot clear heights and at least 20 dock-high doors. The design-build team includes civil engineer Kimley-Horn & Associates and architect of record STG Design. LPC and Goldman Sachs Alternatives plan to deliver Northside Logistics Park in first-quarter 2026.

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DevelopmentLoansSouth CarolinaSoutheastStudent Housing

JLL Secures Construction Financing, Equity for 168-Unit Student Housing Development Near Clemson University

by John Nelson

CLEMSON, S.C. — JLL has secured construction financing and an equity placement for Hartwell Ridge, a 168-unit student housing development located near the Clemson University campus in South Carolina. Jeremy Sain, Teddy Leatherman and Lauren Dow of JLL represented the borrower, Fountain Residential Partners, in arranging the equity placement through FrontRange Capital and Atlantic American Partners. BankUnited provided the construction loan for the project. Located at 10920 Clemson Blvd., the community will offer fully furnished units in studio through five-bedroom configurations, including two-story townhomes. Shared amenities will include a swimming pool, clubhouse, strength training and cardio center and multiple private study rooms. Van Winkle Construction is acting as general contractor for the project, which is scheduled for completion in fall 2026.

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Augusta-Flats-San-Antonio
AcquisitionsMultifamilyTexas

Partnership Acquires Multifamily Property in Downtown San Antonio for $48M

by Taylor Williams

SAN ANTONIO — A partnership between locally based developer The Lynd Group, New York City-based investment firm Declaration Partners and Delaware-based investment manager Corten Partners has acquired a multifamily property in downtown San Antonio for $48 million. Augusta Flats is a five-story, 260-unit apartment community that was initially developed in 2021 and subsequently sold during lease-up. The property offers studio, one- and two-bedroom units and amenities such as a pool, fitness center, rooftop lounge, golf simulator and outdoor grilling and dining stations. The partnership purchased Augusta Flats from the previous owner’s lender. Benefit Street Partners provided acquisition financing for the deal.

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EastPort-Logistics-Boise-ID
DevelopmentIdahoIndustrialWestern

Lincoln Property Co., OneIM Break Ground on 1 MSF Industrial Project in Boise

by Amy Works

BOISE, IDAHO — A joint venture between Lincoln Property Co. and One Investment Management (OneIM) has broken ground on EastPort Logistics, a multi-phase industrial development situated on 78 acres in Boise’s Airport submarket. Phase I of EastPort will include 685,000 square feet across four buildings, ranging in size from 12,500 square feet to 378,560 square feet. Upon full build-out, EastPort Logistics will feature seven buildings with clear heights up to 32 feet, more than 1,300 car parking spaces, 168 trailer parking spaces and 196 dock doors. Additional site features will include landscaping and a berm to alleviate light and/or noise from within the site. The project team for phase I includes Mackenzie as architect of record, Kimley Horn as civil engineer and McAlvain as general contractor. TOK Commercial is handling marketing and leasing for the development.

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DevelopmentHospitalityLoansMultifamilySeniors HousingTexas

Eastern Union Arranges $20.4M in Financing for Seniors Housing Conversion Project in Plano

by Taylor Williams

PLANO, TEXAS — Eastern Union has arranged $20.4 million in financing for a seniors housing conversion project in Plano. Built in 1984 and renovated in 2005, the six-story, 137-room building at 700 Central Parkway E. was most recently operated as a Deluxe Inn hotel. The borrower plans to convert the property into a facility with 100 assisted living units and 40 memory care units that will be operated under the Parkdale Senior Living brand. Meir Abrahamson of Eastern Union arranged the financing, which consists of a $15.8 million construction-to-permanent loan and $4.7 million bridge loan. The direct lender was not disclosed. The conversion is slated for a mid-2026 completion.

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AcquisitionsCaliforniaIndustrialLoansWestern

JLL Secures $32.2M in Acquisition Financing for Inland Empire West Industrial Portfolio in California

by Amy Works

CHINO AND POMONA, CALIF. — JLL Capital Markets has arranged $32.2 million in financing for Proficiency Capital’s acquisition of McGee Business Center I & II, an industrial portfolio in Chino and Pomona. Peter Thompson, Kyle White and Nick Englhard of JLL secured the three-year, floating-rate loan through a bank for the borrower. McGee Business Center consists of two fully leased industrial parks totaling 231,696 square feet. Business Park 1, located at 2300 S. Reservoir St. in Pomona, features four buildings totaling 128,800 square feet. Business Park II, located at 12301-12395 Mills Ave. in Chino, consists of five buildings totaling 101,896 square feet. Constructed in 1981 and 1987, the property features 71 industrial suites averaging 3,263 square feet.

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530-B-St-San-Diego-CA
AcquisitionsCaliforniaOfficeWestern

Ambient Communities Buys 24-Story Office Tower in San Diego for $27.5M

by Amy Works

SAN DIEGO — Encinitas, Calif.-based Ambient Communities has acquired 530 B Street, a 24-story office tower in downtown San Diego. An undisclosed seller sold the building for $27.5 million. At the time of sale, the 250,181-square-foot tower was 76.8 percent occupied, with US Bank as a major tenant occupying 77,414 square feet. Ambient Communities plans to eventually convert the office building to primarily residential units. Mickey Morera of Kidder Mathews represented the buyer in the deal. Mary Blagg of Kidder Mathews is overseeing management of the building.

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Rancho-Las-Palmas-Tempe-AZ
AcquisitionsArizonaMultifamilyWestern

Pinnacle Holdings Sells 112-Unit Rancho Las Palmas Apartments in Tempe, Arizona

by Amy Works

TEMPE, ARIZ. — Boca Raton, Fla.-based Pinnacle Holdings has completed the disposition of Rancho Las Palmas Apartments in Tempe to an Arizona-based private investor for $18 million, or $160,714 per unit. Built in 1986 on 5.2 acres, Rancho Las Palmas features 112 apartments spread across six two-story and three-story buildings. The community offers 48 one-bedroom units and 64 two-bedroom units with an average size of 777 square feet. Unit amenities include balconies/patios, vaulted ceilings in select units and fully equipped kitchens with stainless steel appliance packages in select units. Community amenities include a clubhouse, fitness center, swimming pool, spa, laundry facility, gated entry and ample parking. Avison Young’s Peter Sherman, Keith O’Donnell and Mark Seale, along with Alon Shnitzer, Rue Bax, Eddie Chang, Doug Lazovick and Tyler Bruggman of ABI Multifamily, brokered the transaction.

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