Property Type

Cherry Health, Woda Cooper Break Ground on 56-Unit Affordable Housing Project in Wyoming, Michigan

by Kristin Harlow June 30, 2025

WYOMING, MICH. — Cherry Health and Woda Cooper Cos. Inc. have broken ground on Shea Ravines, a 56-unit affordable housing community adjacent to Cherry Health’s Wyoming Community Health Center. The four-story building will offer 40 one-bedroom units and 16 two-bedroom residences for singles, families and seniors who earn up to 80 percent of the area median income. There will be 20 Permanent Supportive Housing units reserved for renters exiting homelessness. Those units are supported by rental assistance provided by the Grand Rapids Housing Commission. Nonprofit services provider Community Rebuilders of Grand Rapids will coordinate supportive services to assist these residents. Amenities will include a multipurpose room, playground and bike storage. The US Green Building Council expects the property to be certified LEED Zero Energy. The project is named in honor of prior Cherry Health CEO Chris Shea. Additional phases of development are planned, for a total of 112 affordable housing units on the campus. The City of Wyoming approved a 3 percent Payment in Lieu of Taxes, which helped make the project possible. In 2024, the Michigan State Housing Development Authority (MSHDA) allocated housing tax credits to Shea Ravines to support the development financing. Earlier this year, MSHDA allocated housing …

June 30, 2025

Development Kansas Life Sciences Midwest

18,000 SF Link Innovation Labs to Debut in Topeka, Kansas

by Kristin Harlow June 30, 2025

TOPEKA, KAN. — Construction has begun on Link Innovation Labs, an 18,000-square-foot innovation incubator in downtown Topeka. Formerly corporate offices for AT&T, the redevelopment project is set to open in January 2026 and will feature wet and dry labs, coworking areas, conference rooms, offices and a coffee shop. The first tenant is Plug and Play Topeka, a launchpad for startups in animal health, ag-tech and food systems. Eight wet and dry labs will total roughly 7,500 square feet. A pitch and event area will span 2,500 square feet and will be dedicated to networking, presentations, conferences and public training events. Link Innovation Labs has $5 million committed from public and private sources. GO Topeka is leading the project. Topeka is centrally located within the Kansas City Animal Health Corridor, the world’s largest concentration of animal health companies and related industries.

June 30, 2025

Acquisitions Net Lease Northeast Pennsylvania Retail

CBRE Brokers $12.2M Sale of Net-Leased Retail Building in Jamison, Pennsylvania

by Taylor Williams June 30, 2025

JAMISON, PA. — CBRE has brokered the $12.2 million sale of a 25,000-square-foot retail building in Jamison, a northern suburb of Philadelphia, that is net leased to convenience store operator Wawa and Tractor Supply. ExchangeRight, a Southern California-based investment firm that specializes in net-lease, 1031 and Delaware Statutory Trust deals, purchased the asset from New Jersey-based ARCTRUST. Matthew Gorman and Michael Shover of CBRE brokered the deal.

June 30, 2025

Affordable Housing Development Multifamily Northeast Seniors Housing Vermont

M&T Realty Capital Provides $5M in Equity for Affordable Housing Redevelopment in Vermont

by Taylor Williams June 30, 2025

ORANGE COUNTY, VT. — M&T Realty Capital Corp. has provided $5 million in equity for Chelsea Williamstown Apartments, an affordable housing redevelopment project in Vermont’s Orange County. The project involves the rehabilitation and adaptive reuse of two noncontiguous properties that will add 61 rent-restricted units, many of which will be marketed to seniors, to the local supply. Northfield Savings Bank is financing construction, which is expected to be complete next spring. The owner was not disclosed. M&T also provided a $5.6 million Fannie Mae M.TEB forward commitment as part of the capital stack.

June 30, 2025

Acquisitions Connecticut Industrial Northeast

Angel Commercial Negotiates $4.8M Sale of Two Industrial Buildings in Bridgeport, Connecticut

by Taylor Williams June 30, 2025

BRIDGEPORT, CONN. — Locally based brokerage firm Angel Commercial has negotiated the $4.8 million sale of two industrial buildings in the southern coastal Connecticut city of Bridgeport. The first building is an 87,778-square-foot multi-tenant structure that is anchored by Beacon Roofing Supply. The second building is an 11,728-square-foot facility that was formerly owned and occupied by New England Heating Parts Co. Jon Angel of Angel Commercial brokered both sales. The buyers and sellers were not disclosed.

June 30, 2025

Development Multifamily New Jersey Northeast Top Stories

Partnership Breaks Ground on $400M Multifamily Development in Jersey City

by Taylor Williams June 30, 2025

JERSEY CITY, N.J. — A partnership between New York-based developer The Albanese Organization, BXP (NYSE: BXP) and Boston-based investment manager CrossHarbor Capital Partners has broken ground on 290 Coles Street, a $400 million multifamily development in Jersey City. Completion is slated for spring 2028. In addition to its namesake thoroughfare, the 1.7-acre site in the West SoHo neighborhood, which spans a full city block, is bounded by Jersey Avenue and 16th and 17th streets. Plans call for 670 apartments, 60,000 square feet of indoor and outdoor amenity space and 13,000 square feet of retail space. More specifically, 290 Coles will consist of two buildings that will rise 14 and 21 stories that will be constructed above a six-level podium. Floor plans were not disclosed. Amenities will include coworking areas, a fitness center, rooftop sky lounge and sundeck, outdoor pool, golf simulator, chef’s kitchen, children’s playroom and a pet spa. MHS Architecture designed the development, with Brooklyn-based Meshberg Group handling interior design. K L Masters Construction Co. is serving as the general contractor and construction manager. Additional project partners include ICOR Consulting Engineers, DeSimone Consulting Engineering and Dresdner Robin. “With its continued population growth, Jersey City is an attractive market for …

June 30, 2025

Acquisitions Florida Loans Multifamily Southeast

Berkadia Arranges $44.6M Sale, Financing of Multifamily Community in Jacksonville, Florida

by Abby Cox June 27, 2025

JACKSONVILLE, FLA. — Berkadia has arranged the $44.6 million sale of Addison Landing, a 289-unit, garden-style multifamily community located in Jacksonville. Greg Rainey of Berkadia represented the seller, Florida-based WRH Realty, in the transaction. The buyer was Tampa, Florida-based Argyle Real Estate Capital. Matt Robbins, Mitch Sinberg, Brad Williamson, Scott Wadler and Hugo Hernandez of Berkadia also secured $31.3 million in financing through a Freddie Mac loan for the acquisition. The 10-year floating loan features interest-only payments for seven years. Built in 2007 on a 19-acre site, Addison Landing comprises 34 two- and three-story buildings. Floorplans at the property include one-, two-, three- and four-bedroom units totaling up to 1,425 square feet, according to Apartments.com. Select units also offer private, fenced yards, vaulted ceilings and lake views. Amenities at the community include a swimming pool, sun deck, outdoor kitchen and poolside lounge, clubhouse with a fitness center, billiards room, business center, playground, dog park, pet stations, package locker system and detached garages. The revious ownership invested $4.6 million in community enhancements.

June 27, 2025

Development Multifamily North Carolina Southeast

Crescent Communities Breaks Ground on NOVEL UHill in Durham, North Carolina

by Abby Cox June 27, 2025

DURHAM, N.C. — Charlotte-based Crescent Communities has broken ground on NOVEL UHill, a 400-unit multifamily community located in the University Hill neighborhood of Durham. Situated on 6 acres, the five-story midrise building will offer studio to three-bedroom units, as well as 19 freestanding townhomes with two- and three-bedroom layouts. Amenities at the complex will include a 1,450-square-foot indoor-outdoor sky lounge, community clubroom, resort-style swimming pool with lounge chairs and a grilling station, fitness studio with private yoga rooms, table tennis area, coworking lounge, two outdoor courtyards, a fenced-in dog park and an onsite Land of a Thousand Hills coffee shop. In addition to UHill Walls, a 40,000-square-foot public art installation, NOVEL UHill will incorporate original artwork throughout the property. This project follows the debut of NOVEL Morrisville and NOVEL Cary earlier this spring, both of which are currently leasing. Crescent Communities Construction will serve as the development’s general contractor, with KTGY serving as the project’s architect. Kimley Horn & Associates will handle civil engineering and landscape architecture. Financial partners for the project include Kyuden Urban Development America LLC and NEC Capital Solutions America Inc. Santander Bank will provide debt financing for the project.

June 27, 2025

Florida Retail Southeast

Stiles, FCA Partners Complete Redevelopment of Shopper’s Haven in Metro Miami

by Abby Cox June 27, 2025

POMPANO BEACH, FLA. — Fort Lauderdale-based Stiles and Charlotte, North Carolina-based FCA Partners have completed the redevelopment of Shopper’s Haven, a 200,144-square-foot retail center in Pompano Beach, roughly 36 miles north of Miami. A new Publix Supermarket — which opened June 26 — anchors the center. Dunphy Development provided additional development and construction management services, and Hawkins Construction served as the project’s general contractor. Stiles and FCA acquired the property in 2024. First Horizon Bank provided financing for both the property acquisition and redevelopment Redevelopment of the site included ground-up construction of the new Publix, along with upgrades to the property’s exterior, walkways, landscaping and parking areas. Several additional retailers and restaurants are scheduled to join the property’s tenant roster, which currently includes Walgreens, Outback Steakhouse, Dunkin’ Donuts, Xfinity, Leslie’s Pool Supplies, Michael’s, Bealls, YouFit and Domino’s.

June 27, 2025

Development Florida Industrial Southeast

Stream Realty Partners Negotiates Sale of 10-Acre Industrial Development Site in Pompano Beach, Florida

by Abby Cox June 27, 2025

POMPANO BEACH, FLA. — Stream Realty Partners has negotiated the sale of a 10-acre industrial development site located at the corner of NW 33rd St. and NW 27th Ave. in Pompano Beach. Steve Medwin and Nick Wigoda of Stream represented the buyers, Foundry Commercial and Crow Holdings Capital, in the transaction. Situated near the Florida Turnpike, Interstate 95 and Port Everglades, the site will be developed into a two-building industrial campus that totals approximately 182,000 square feet.

June 27, 2025

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