AUSTIN, TEXAS — Locally based brokerage firm Muskin | Elam Group has arranged the sale of Runnymede Apartments, a 252-unit affordable housing complex in North Austin. Information on floor plans and income restrictions was not disclosed. Amenities include a pool, playground, basketball court, resident learning center and onsite laundry facilities. Muskin | Elam represented the seller, a Texas-based nonprofit organization, in the transaction. The buyer and sales price were not disclosed.
AUSTIN, TEXAS — Berkadia has provided $30 million in agency debt for the refinancing of two seniors housing communities in Texas. The unnamed facilities provide assisted living and memory care services, and the financing comprises two seven-year, floating-rate Freddie Mac loans. Garrett Sacco, Austin Sacco, Steve Muth and Alec Rosenfeld of Berkadia originated the loans on behalf of the borrower, Austin-based Journeyman Group.
HOUSTON — A joint venture between ShopOne Centers, Pantheon and an unnamed institutional investor has acquired Beltway South, a 114,099-square-foot retail center in Houston. Kroger anchors the center, which is also home to tenants such as Petco, Cato Fashions, Subway and State Farm. This transaction marks ShopOne’s first investment in Texas. The seller and sales price were not disclosed.
HOUSTON — CannonDesign has signed a 9,897-square-foot office lease at the 52-acre Greenway Plaza office complex in Houston. The integrated design services firm will occupy space on the fifth floor at 20 Greenway Plaza, a 433,132-square-foot building. Abby Alford of Stream Realty Partners represented the tenant in the lease negotiations. Steve Rocher and Rima Soroka of CBRE represented the landlord, Stockdale Capital Partners.
NEW YORK CITY AND BOSTON — Affiliates of New York City-based investment firm Makarora Management and global investment firm Ares Management Corp. (NYSE: ARE) have completed the $2.1 billion, all-cash acquisition of Boston-based Plymouth Industrial REIT. Under the terms of the deal, which was announced last fall, Plymouth shareholders will receive $22 for each share of common stock they own, and Plymouth will no longer be traded or listed on any public securities exchange. The transaction also calls for the acquiring entities to assume certain pieces of Plymouth’s outstanding debt. The purchase price represents a premium of approximately 50 percent to Plymouth’s unaffected closing common stock price on August 18, 2025. That date marks the last trading day prior to the filing of a Schedule 13D by affiliates of Sixth Street Partners LLC disclosing a nonbinding proposal to acquire all of the outstanding shares of Plymouth’s common stock.
PEMBERTON, N.J. — New York City-based Rockefeller Group will develop a 486,850-square-foot industrial project in Pemberton, located about 35 miles east of Philadelphia. The site spans 100 acres at 2554 U.S. Route 206, and the two-building development will be known as 206 Logistics Center. Building features will include clear heights of 36 to 40 feet, ESFR sprinkler systems and “ample” trailer parking. A construction timeline was not announced. Jonathan Klear and Fred Meyer of NAI Mertz represented Rockefeller Group in its acquisition of the land. NAI Mertz has also been retained to market the project for lease, sale and/or build-to-suit opportunities.
NEW YORK CITY — A partnership between locally based developer Slate Property Group and RiseBoro Community Partnership has completed a 318-unit affordable housing redevelopment project in Queens. The property, which is known as Baisley Pond Park Residences, is a conversion of the 350-room JFK Hilton Hotel in the borough’s Jamaica neighborhood, which was originally built in 1987 and is located about half a mile from JFK International Airport. The new complex houses studio, one- and two-bedroom units and amenities such as a fitness center, computer lounge and multiple common rooms. Aufgang Architects designed the project. Leasing began last spring.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $5.6 million sale of two apartment buildings in the Park Slope area of Brooklyn. The four-story buildings at 334-336 Ninth St. house seven market-rate apartments, one office space and one retail space. Stephen Vorvolakos, Chris Brodhead, Sean Kelly and Nicole Daniggelis of Ariel brokered the deal. The buyer and seller were not disclosed.
NASHVILLE, TENN. — AJ Capital Partners has obtained a $475 million construction loan for Belle Meade Village, a 15.5-acre retail and residential village underway in Nashville. Located on the border of Belle Meade, Tenn., the project is a redevelopment of an under-utilized shopping center. Raymond James Real Estate Investment Banking arranged the financing through Barings on behalf of AJ Capital. Belle Meade Village will feature 1 Iris Lane, The Residences at Belle Meade Village, which are a pair of two 46-unit condominium buildings. The condos have a starting price of $3 million and come in one- to four-bedroom layouts. Residents have access to 16,000 square feet of amenity space, including high-end fitness and wellness features and private wine and cigar rooms, among other attractions. The project also includes a five-acre private park and a central courtyard space with an antique carousel surrounded by a seven-building retail village that will feature local and global brands, a private members’ club and a boutique hotel. AJ Capital broke ground on Belle Meade Village last October, with plans to wrap up construction by 2028. The design-build team includes Meyer Davis (interior design for 1 Iris Lane), Brasfield & Gorrie (general contractor), Barge Civil Associates …
CANTON, GA. — The Milestone Group has purchased Legends at Laurel Canyon, a 266-unit, garden-style apartment community located at 100 Legends Drive in Canton, about 43 miles north of Atlanta. The seller and sales price were not disclosed. Built in 2020, Legends at Laurel Canyon offers one-, two- and three-bedroom units averaging 1,227 square feet in size. Amenities include a clubhouse, fitness center, resort-style saltwater pool, gated access, Amazon Hub Lockers, car care center, bike racks and a pet park and spa.
