KATHLEEN, GA. — BWE has provided a $38.5 million loan for Encore at Beacon Place, a 252-unit build-to-rent community located at 40 Cohen Walker Drive in Kathleen, about seven miles south of Warner Robins in central Georgia. Paul Harbor and Caleb Carter of BWE’s Birmingham office originated the bridge loan on behalf of the borrower, a multifamily investment firm based in Alabama. Delivered in February 2025, Encore at Beacon Place offers a mix of one-, two- and three-bedroom cottages. Amenities include a resort-style saltwater pool, pickleball court, clubhouse with a 24-hour fitness center with a fitness studio, community gathering room, business center, cyber café with complimentary Wi-Fi and a coffee bar.
STATESBORO, GA. — JLL has negotiated the sale of Market 100, a 532-bed student housing community located at 100 Bermuda Run Road in Statesboro, less than a half-mile from the Georgia Southern University campus. RDG Student Housing, a division of Redeeming Development Group, purchased the 164-unit property from Preiss for an undisclosed price. The transaction marks the buyer’s first student housing acquisition. Teddy Leatherman, Scott Clifton and Kevin Kazlow of JLL’s student housing capital markets team represented the seller in the transaction. Jayme Nelson and Dan Kearns of JLL arranged a three-year acquisition loan through Bayview Asset Management on behalf of RDG Student Housing. Market 100 was 97 percent occupied at the time of sale. The community features a mix of two-, three- and four-bedroom floorplans with bed-to-bath parity in most units. Onsite amenities include a resort-style pool, sand volleyball court, clubhouse, fitness center, computer lounge, basketball court and a billiards table.
NASHVILLE, TENN. — Locally based Bluecrest Capital Advisors has acquired Royal Parkway I and II, a 145,000-square-foot small-bay industrial property located adjacent to Nashville International Airport, for $12.2 million. The seller was not disclosed. Truxton Trust provided an undisclosed amount of acquisition financing to Bluecrest Capital Advisors, a newly formed company founded by Nashville real estate experts Scott Porter and John Colucci. Porter was formerly a pitcher for the MLB’s Toronto Blue Jays. Royal Parkway I and II is Bluecrest’s second acquisition since its inception earlier this year. Bluecrest plans to invest $6 million in capital improvements to the value-add asset over the next five years, with renovations including exterior upgrades, new interior build-outs, a new roof and a new road. Built in 1990, Royal Parkway I and II sits on a 9.2-acre site and was 85 percent leased at the time of sale.
DURHAM, N.C. — Drawbridge Realty has signed Aspida Financial Services to an 89,770-square-foot lease at Imperial Tower, a 264,598-square-foot office building located at 4820 Emperor Blvd. in Durham. Greg Sanchez, Ryan Gaylord and Robin Roseberry Anders of NAI Tri Properties represented Drawbridge Realty in the lease negotiations. Matthew Cooke and Gardner Gibson of Davis Moore represented Aspida, which plans to occupy the top three full floors of the 11-story office building. Imperial Tower was previously fully occupied by an undisclosed tenant through May 2026 before the tenant broke off its lease and enforced a remote work policy during the COVID-19 pandemic. Drawbridge Realty is underway on a $10 million overhaul of the property, including a new wellness room, tenant lounge and game room, waterside patio, café, golf simulator, fitness center with locker room and shower facilities, athletic fields and pickleball and sport courts. The company is also renovating Imperial Tower’s existing lobby and conference center.
ELMHURST, ILL. — McHugh Construction and joint venture partner Nacional Group have broken ground on the new Joanne B. Wagner Community Center in the Chicago suburb of Elmhurst. The nearly $85 million project will replace the former 32,000-square-foot Wagner Community Center with a 127,250-square-foot, two-story facility at 615 N. West Ave. A grand opening is planned for fall 2027. The new center will be approximately four times larger than the former facility, enabling expanded programming and the elimination of longstanding waitlists for youth and adult activities. Designed by the Elmhurst office of Dewberry, the Wagner Community Center will feature an indoor artificial turf field, a full-size gymnasium capable of hosting multiple sports, a three-lane elevated walking track, dedicated early childhood and preschool classrooms with a separate entrance, expanded dance and gymnastics studios, an indoor play area, multipurpose community rooms and administrative offices.
LAKEVILLE, MINN. — CBRE has arranged the sale of Livery, a 204-unit multifamily property in the Minneapolis suburb of Lakeville. Texas-based RPM Living Investments purchased the asset from Indiana-based Garrett Cos. for an undisclosed price. CBRE’s Ted Abramson, Keith Collins and Abe Appert represented the seller. Built in 2023, the townhome-style property features a range of one-, two- and three-bedroom floor plans averaging 1,117 square feet. Amenities include a yoga room, outdoor fire pit, pool, fitness center and indoor dog spa.
GREEN BAY, WIS. — Hanley Investment Group Real Estate Advisors has brokered the $25.4 million sale of Green Bay Plaza, a 232,796-square-foot shopping center anchored by T.J. Maxx, HomeGoods and Ross Dress for Less in Green Bay. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley, in association with ParaSell Inc., represented the seller, Anenberg Asset Management, a family office based in Newport Beach, Calif. The buyer, Chicago-based Core Acquisitions, was self-represented. Built in 1960 and expanded in 2003, Green Bay Plaza is 89 percent occupied. Additional tenants include Burlington, Dollar Tree, Sierra, Five Below, Crunch Fitness and Skechers Outlet. The property is located two miles from Lambeau Field, home of the Green Bay Packers.
MINNEAPOLIS — Kraus-Anderson has broken ground on Exodus, a $24 million affordable housing project in downtown Minneapolis. The developer, Aeon, is partnering with St. Olaf Catholic Church on the project, which involves the rehabilitation and addition to an existing eight-story building adjacent to the church. Once complete, the development will provide 72 studio units of deeply affordable housing, designed to support individuals experiencing homelessness and housing instability. Residents will be referred through Hennepin County’s Coordinated Entry and Behavioral Health Systems. Touchstone Mental Health will provide comprehensive supportive services. Through a long-term ground lease, Aeon will be the new owner and operator of the building. Constructed in the 1950s, the building was originally designed to provide dorm-style housing for young professional women working downtown. Over time, the property transitioned to providing temporary shelter for unhoused individuals downtown through Catholic Charities and Hennepin County, before becoming completely vacant. Urbanworks Architecture and Kraus-Anderson will serve as the architect and general contractor. Plans call for the substantial rehabilitation of the building’s interior and connecting a newly built eight-story addition adjacent to the original. There will be community spaces, outdoor green space and a fitness center as well as new mechanical systems. The project is …
BOSTON — New York City-based Lument has provided a $27 million HUD-insured loan for the refinancing of East Canton Street Apartments, a historic affordable housing property located in the InkBlock neighborhood of Boston. The property consists of four five-story buildings that were originally constructed in the late 1800s and a house total of 80 units. East Canton Street Apartments was converted to HUD-subsidized housing in 1981 and rehabilitated in 2007. Tracy Peters of Lument originated the fixed-rate loan through HUD’s 223(f) program on behalf of the owner, HallKeen Management.
PITTSBURGH — An affiliate of San Antonio-based investment firm LYND Group has acquired Kelly Hamilton Apartments, a 110-unit affordable housing complex in Pittsburgh. The 21-building property is located in the city’s Homewood South neighborhood and offers one-, two- and three-bedroom floor plans. LYND, which plans to implement a capital improvement program, purchased the property through a bankruptcy proceeding in the U.S. Bankruptcy Court for the District of New Jersey.