Tuesday, December 30, 2025
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159-Boerum-St.-Brooklyn
LoansMultifamilyNew YorkNortheast

Slate, Avenue Realty Receive $64M Loan for Refinancing of Brooklyn Multifamily Project

by Taylor Williams

NEW YORK CITY — A partnership between two local firms, owner-operator Slate Property Group and real estate private equity firm Avenue Realty Capital, has received a $64 million loan for the refinancing of The Welz, a 162-unit community in the East Williamsburg area of Brooklyn. Designed by Aufgang Architects, the 19-story, newly constructed building offers studio, one- and two-bedroom units. Roughly 30 percent (49) of the residences are reserved for renters earning between 60 and 130 percent of the area median income, and residents also have access to a rooftop deck with grilling stations, a fitness center and package lockers. Daniel Fromm of Newmark arranged the three-year, floating-rate loan through Starwood Capital on behalf of the partnership.

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AcquisitionsNortheastPennsylvaniaRetail

CBRE Brokers Sale of 222,512 SF Shopping Center in Havertown, Pennsylvania

by Taylor Williams

HAVERTOWN, PA. — CBRE has brokered the sale of The Quarry Center, a 222,512-square-foot shopping center in Havertown, located west of Philadelphia. Grocer Giant and Lowe’s Home Improvement anchor the center, which was fully leased at the time of sale. Chris Munley, Colin Behr, Ryan Sciullo and Casey Benson Smith of CBRE represented the seller, an entity doing business as Quarry Center Limited Partnership, in the transaction. The team also procured the undisclosed buyer.

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AcquisitionsConnecticutHospitalityNortheast

Hunter Hotel Advisors Arranges Sale of 135-Room Property in Stratford, Connecticut

by Taylor Williams

STRATFORD, CONN. — Atlanta-based brokerage firm Hunter Hotel Advisors has arranged the sale of the 135-room Homewood Suites by Hilton Stratford. The extended-stay property sits across from Sikorsky Aircraft Corp.’s 2.5 million-square-foot headquarters in southern coastal Connecticut. An unnamed institutional investor sold the property to owner-operator Jamsan Hotel Management for an undisclosed price. Spencer Davidson of Hunter Hotel Advisors brokered the deal.

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DevelopmentFloridaSoutheastStudent Housing

Gilbane, CBRE Underway on 763-Bed Student Housing Development Near University of Central Florida

by John Nelson

ORLANDO, FLA. — Construction is underway on VIBE, a 763-bed student housing project by Gilbane Development and CBRE Investment Management located at 3765 Quadrangle Blvd. near the University of Central Florida campus in Orlando. The partnership recently opened a temporary leasing office for the community at 12226 Corporate Blvd. The development is scheduled for completion in fall 2026. VIBE will offer 275 fully furnished units in one-, two-, three- and four-bedroom configurations with bed-to-bath parity. Each floor will offer private rooms for individual study, remote classes or quiet reflection. Additional shared amenities are set to include two courtyards; a resort-style pool with cabanas and a sun deck; clubhouse with a communal fire pit; outdoor kitchen with grills; pickleball courts; a 24-hour fitness center; sauna; coworking lounge; and a coffee bar. The community will also offer 712 parking spaces, as well as secured bicycle storage.

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AlabamaDevelopmentIndustrialSoutheast

HDA Leads 325,000 SF Adaptive Reuse Project for Gulf Distributing in Downtown Mobile, Alabama

by John Nelson

MOBILE, ALA. — HDA has announced the completion of the new headquarters for Gulf Distributing in downtown Mobile. The project was an adaptive reuse of the vacant Press-Register Building, a 1950s-era printing press, into a 325,000-square-foot beverage distribution facility. HDA’s design included renovating 225,290 square feet of existing space, an 85,040-square-foot warehouse expansion, a new 4,960-square-foot vehicle maintenance facility and a 9,166-square-foot covered cooperage for the production of barrels and tubs. Other members of the project team were not released. Founded in 1973, Gulf Distributing is a beer distributor that operates across Alabama, the Florida Panhandle and Mississippi. The family-owned company employs approximately 1,300 people and partners with more than 140 suppliers.

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AcquisitionsMultifamilyNorth CarolinaSoutheast

Rise48 Equity Acquires 144-Unit Apartment Community in Chapel Hill, North Carolina

by John Nelson

CHAPEL HILL, N.C. — Rise48 Equity has acquired LYV Chapel Hill, a 144-unit, Class B apartment community in Chapel Hill. The investment firm has rebranded the property as Rise Chapel Hill. The seller and sales price were not disclosed. Built in 1984, Rise Chapel Hill is situated near the University of North Carolina at Chapel Hill, as well as multiple tech and research firms that have established a presence in North Carolina’s Research Triangle. Rise48 plans to renovate all unit interiors with new washers and dryers, cabinetry, stainless steel appliances, countertops, flooring and lighting and plumbing fixtures. Exterior renovations will include paint, landscaping, signage and common area improvements.

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Affordable HousingDevelopmentFloridaSeniors HousingSoutheast

HTG, AM Affordable Housing Open 81-Unit Seniors Housing Community in Crystal River, Florida

by John Nelson

CRYSTAL RIVER, FLA. — Affordable housing developers Housing Trust Group (HTG) and AM Affordable Housing have partnered to deliver The Fountains at Hidden Lake, an 81-unit affordable seniors housing community located at 10456 W. Ashburn Lane in Crystal River. The $24.5 million community was fully occupied at the grand opening to households age 62 and older who earn at or below 30, 40 and 60 percent of the area median income (AMI). Situated on 7 acres in west Florida, The Fountains at Hidden Lake includes 61 one-bedroom and 20 two-bedroom apartments ranging in size from 645 to 952 square feet. Amenities include a resort-style swimming pool, horseshoe court, fitness center, dog park and a multipurpose community room. Programming for the senior residents will include regular wellness check-ins, light housekeeping, grocery and laundry assistance and a calendar of community events and activities. Public and private funding sources for the project included $20.4 million in 9 percent Low-Income Housing Tax Credits (LIHTC) allocated by the Florida Housing Finance Corp. and syndicated by City Real Estate Advisors; an $18.5 million construction loan and $4.15 million permanent loan from KeyBank Real Estate Capital; and a $340,000 loan from the City of Crystal River. The …

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AcquisitionsGeorgiaMixed-UseRestaurantRetailSoutheast

Westwood Financial Buys Glenridge Springs Retail Center in Sandy Springs, Georgia

by John Nelson

SANDY SPRINGS, GA. — Los Angeles-based Westwood Financial has purchased the retail component of Glenridge Square, a mixed-use development located at 5610 Glenridge Drive in Sandy Springs. The live-work-play property is situated adjacent to I-285 in Atlanta’s Central Perimeter submarket. The seller and sales price were not disclosed. Glenridge Square features 20,001 square feet of ground-level retail space that was 91 percent leased at the time of sale to tenants including Qdoba, Firehouse Subs, Blue Moon Pizza, Sushi Nami, Taziki’s Mediterranean, DaVinci’s Donuts, Venus Nail Lounge and Beauty Enhanced. The property also includes 168 apartments and 80,000 square feet of office space leased to tenants including Go2Foods’ headquarters (roughly 800 employees) and Haverty’s (about 3,000 employees). The offices and apartments were not included in the sale.

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Affordable HousingDevelopmentMultifamilyNortheastPennsylvania

Tryko Partners to Develop 48-Unit Affordable Housing Project in Pittsburgh

by Taylor Williams

PITTSBURGH — New Jersey-based Tryko Partners will develop a 48-unit affordable housing project in Pittsburgh’s West End neighborhood. Hill Top Villas will be an age-restricted complex in which the majority (40) of the one-bedroom units will be reserved for households earning 60 percent or less of the area median income. Amenities will include a fitness center and a community room. Tryko Partners has received 9 percent Low-Income Housing Tax Credits to finance the project, and construction could begin as early as 2027.

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AcquisitionsFloridaGeorgiaMultifamilyNorth CarolinaNortheastOregonPennsylvaniaSoutheastStudent HousingTexasTop StoriesVirginiaWestern

Morgan Stanley, GSA Acquire Eight-Property Student Housing Portfolio Valued at $1B

by Kristin Harlow

NEW YORK CITY — Morgan Stanley Real Estate Investing (MSREI) and Global Student Accommodation (GSA) have acquired a portfolio of eight student housing assets in Tier 1 U.S. university markets from a joint venture between a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) and Landmark Properties. The transaction is valued at more than $1 billion. The properties are located across seven states and offer a mix of cottage-style, high-rise and mid-rise formats. The 6,200-bed portfolio is nearly fully leased. Global student housing operator Yugo will manage and rebrand the newly acquired assets. The assets in the sold portfolio include: The acquisition marks the partnership’s entrance into new markets in Virginia, Georgia and Pennsylvania, while expanding its presence in Texas, Florida, Oregon and North Carolina. Through its partnership, MSREI and GSA now own nearly 24,000 student housing beds across 50 properties in 23 states. “This acquisition is testament to the depth of our global teams, our access to unique opportunities and the strength of our institutional relationships in the United States and globally. An off-market portfolio of this size and quality is rare, and demonstrates our experience and expertise in the student housing market,” says Nicholas Porter, CEO at …

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