Monday, May 4, 2026
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AcquisitionsIllinoisMidwestRetail

Encore Enterprises, AmCap Management Buy 276,333 SF Shopping Center in Arlington Heights, Illinois

by Kristin Harlow

ARLINGTON HEIGHTS, ILL. — Encore Enterprises Inc. and AmCap Management Holdings LLC, a wholly owned subsidiary of AmCap Management LLC, have purchased a 276,333-square-foot shopping center in the Chicago suburb of Arlington Heights. Named Northpoint Center, the grocery-anchored property is located at the intersection of West Rand and Arlington Heights roads. Tenants include Jewel-Osco, Ross Dress for Less, Marshalls, Chase Bank, Five Below and PopShelf. The seller and sales price were undisclosed.

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DevelopmentMidwestMultifamilyOhioSeniors Housing

Sonida Senior Living Expands Community in Cincinnati with 82 Additional Units

by Kristin Harlow

CINCINNATI — Sonida Senior Living has expanded The Wellington at North Bend Crossing in Cincinnati with the addition of its new Vista building. The four-story building is now welcoming visitors for tours ahead of its anticipated summer opening. The Vista building adds 82 new assisted living and memory care apartments, supporting a maximum occupancy of 113 residents. The expansion will create nearly 65 new jobs in the area. The building features three outdoor spaces, a nearly 1,000-square-foot rehabilitation gym, fitness room, theater, game room, multiple dining venues, a salon and sunrooms on each floor. Responding to frequent requests from the community, Vista will introduce fully furnished assisted living apartments specifically available for temporary stays and respite care. This addition addresses a growing need among local families for flexible, supportive short-term living options. Vista also expands the community’s specialized memory care neighborhood, which utilizes Sonida’s Magnolia Trails program to provide engagement and purpose-driven experiences for individuals living with Alzheimer’s disease and other forms of dementia. With the addition of Vista, The Wellington at North Bend Crossing expands its continuum of care to include a total of 318 independent living, assisted living, memory care and temporary stay/respite care units.

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AcquisitionsIllinoisMidwestRetail

Capital Healthcare Properties, HSG Medical Acquire 21,070 SF Retail Property in Metro Chicago

by Kristin Harlow

LOMBARD, ILL. — A partnership between Capital Healthcare Properties and HSG Medical has acquired a 21,070-square-foot retail property in the Chicago suburb of Lombard for an undisclosed price. Immediately upon the acquisition, the partnership executed a long-term lease with Duly Health and Care that brings the freestanding property from 33 percent leased to fully occupied. Duly Health and Care is a Chicagoland healthcare provider with more than 1,200 primary care and specialty providers across 50-plus specialties with 150 locations. Located at 2830 S. Highland Ave., the building features additional tenants such as Potbelly and SimonMed Imaging. The buyers plan to make upgrades, including a new parking lot, new roof, enhanced front sidewalks, exterior tuckpointing and landscaping. The property was sold by a special servicer who was represented by Frontline Real Estate Partners. The asset was put under the control of a special servicing agent after the previous owner defaulted on its loan.

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Leasing ActivityMichiganMidwestRestaurantRetail

Soul Food Restaurant Signs 7,198 SF Lease at Eureka Plaza in Southgate, Michigan

by Kristin Harlow

SOUTHGATE, MICH. — A soul food restaurant has leased 7,198 square feet of retail space at Eureka Plaza in Southgate, a southwest suburb of Detroit. The lease brings the shopping center to full occupancy. There is still proposed outlot availability at the property, with up to 2,500 square feet with drive-thru capability. Michael Murphy of Gerdom Realty & Investment represented the undisclosed landlord.

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AcquisitionsIllinoisIndustrialMidwest

SVN Chicago Commercial Brokers Sale of 6,200 SF Industrial Building Slated for Adaptive Reuse

by Kristin Harlow

CHICAGO — SVN Chicago Commercial has brokered the sale of a 6,200-square-foot industrial building at 1802-1806 W. Chicago Ave. in Chicago’s West Town neighborhood for $1.3 million. The property is slated for an adaptive reuse conversion to multifamily. Tim Rasmussen and Marcus Sullivan of SVN represented the undisclosed seller.

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DevelopmentIndustrialSoutheastTennessee

CRG Breaks Ground on 520,000 SF Industrial Facility in Lebanon, Tennessee

by John Nelson

LEBANON, TENN. — CRG has broken ground on the first building within The Cubes at Sparta Pike, a 198-acre industrial park in Lebanon. Known as Building B, the new 520,000-square-foot facility will be the first of four buildings at the park and will feature 40-foot clear heights, staging bays with grade-level doors, deep truck courts, trailer storage, car parking, ESFR sprinklers and high-efficiency LED lighting. The Cubes at Sparta Pike is situated within a mile of I-40 and roughly 24 miles from the Nashville International Airport and will accommodate up to 2.8 million square feet of Class A industrial space. CRG has retained Jim Rodrigues and John Zeffery of Lee & Associates’ Nashville office to market and lease the development. The project team includes CRG’s parent company, Clayco, as the design-builder and Lamar Johnson Collaborative as the project architect. Construction at Building B is expected to be completed in early 2026.

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Singing-Bridge-Residences-Chicopee-Massachusetts
DevelopmentLoansMassachusettsMultifamilyNortheast

MassHousing Provides $37.3M in Financing for Affordable Housing Project in Chicopee, Massachusetts

by Taylor Williams

CHICOPEE, MASS. — MassHousing has provided $37.3 million in financing for Singing Bridge Residences, a 105-unit affordable housing project in Chicopee, located near the Massachusetts-New York border. The borrower, a joint venture between Sydney Capital Group LLC and Brisa Builders Development, will develop the complex on a four-acre, riverfront site at 400 Main St. that was previously owned by the city. Other portions of the site will be developed separately to feature a sports complex, brewery and an office building. The unit mix will consist of 16 studios, 21 one-bedroom apartments, 57 two-bedroom residences and 11 three-bedroom apartments and will feature a range of income restrictions. Paul A. Castrucci Architects is designing Singing Bridge Residences, and Western Builders is serving as the general contractor. Completion is slated for summer 2027.

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AcquisitionsMultifamilySouth CarolinaSoutheast

URS Capital Acquires Palms at Edgewater Apartments in Summerville, South Carolina for $58.5M

by John Nelson

SUMMERVILLE, S.C. — URS Capital Partners has acquired The Palms at Edgewater, a 288-unit apartment community in the Charleston suburb of Summerville, for $58.5 million. The seller was not disclosed. The Huntington, N.Y.-based buyer financed the acquisition with a five-year, fixed-rate agency loan. Built in 2023, Palms at Edgewater features a mix of one-, two- and three-bedroom apartments ranging in size from 778 to 1,200 square feet, according to Apartments.com. Amenities include a pool, fitness center, playground, game room, business center, car wash area and a pickleball court.

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Affordable HousingDevelopmentFloridaSeniors HousingSoutheast

National CORE to Develop 144-Unit Affordable Seniors Housing Community in Fort Myers, Florida

by John Nelson

FORT MYERS, FLA. — National CORE has announced plans to develop Oak Park Senior Living, an affordable seniors housing project in Fort Myers. Upon completion, the four-story community will feature 144 apartment units for residents age 62 and older earning between 30 and 65 percent of the area median income. Residences will include 124 one-bedroom apartments and 20 two-bedroom apartments. Amenities will include a community room, cybercafe, swimming pool, fitness room, community garden and a pickleball court. Residents will have access to computer training, daily activities and free assistance with light housekeeping, grocery shopping and laundry through AGPM, National CORE’s property management partner. KeyBank Community Development Lending and Investment has provided $16 million in low-income housing tax credit (LIHTC) equity. KeyBank’s Commercial Mortgage Group privately placed $22 million in tax exempt bonds for the construction and originated a $7.4 million Freddie Mac Forward commitment for permanent financing, which will be funded upon stabilization of the community. Florida Housing Finance Corp. has committed $22 million to the project in the form of a Multifamily Mortgage Revenue Note, as well as $9.5 million from the Rental Recovery Loan Program, $1.2 million of Extremely Low-Income funding and $1.9 million in 4 percent LIHTC …

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DevelopmentHospitalitySoutheastVirginia

KARA Hospitality Opens 92-Room Extended Stay America Hotel in Charlottesville, Virginia

by John Nelson

CHARLOTTESVILLE, VA. — KARA Hospitality has opened Extended Stay America Premier Suites – Charlottesville, a 92-room, four-story hotel in Charlottesville. The hotel features free Wi-Fi, complimentary breakfast, cable TV, a 24-hour fitness room, onsite guest laundry and a lobby with additional vending options. All suites include fully equipped kitchens with full-size refrigerators, microwaves, stovetops, cookware, utensils and dishes, as well as recliners and work areas.

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