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Alloro-University-Groves_Sarasota-Fla
FloridaLoansSeniors HousingSoutheast

Aztec Group Arranges $54.5M Bridge Loan for Seniors Housing Community in Sarasota, Florida

by Hayden Spiess

SARASOTA, FLA. — Aztec Group has arranged a $54.5 million bridge loan for Alloro at University Groves, a seniors housing community located in Sarasota. An affiliate of United Group of Cos. is the borrower, and Mortgage REIT provided the debt. Developed in 2023, Alloro at University Groves features 183 units for residents aged 55 and older. Amenities at the community include a 12,587-square-foot clubhouse, fitness center, yoga room, salon, movie theater, pickleball and bocce courts, a spa, community garden, dog park and onsite dining facilities. 

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AcquisitionsRetailTexas

Faris Lee Arranges $4M Sale of Fort Worth Retail Building

by Taylor Williams

FORT WORTH, TEXAS — California-based brokerage firm Faris Lee Investments has arranged the $4 million sale of an 6,300-square-foot retail building in Fort Worth’s Golden Triangle area. Built in 2019, the pad structure is positioned near a Walmart Supercenter and was fully leased at the time of sale to Dunkin’, Golden Triangle Dental, Rosati’s Pizza and Bazooka Charlie’s Barber. Scott DeYoung, Jeff Conover and Greg Lukosky of Faris Lee represented the seller, a national developer, in the transaction. The buyer was a California-based 1031 exchange investor.

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Atlanta-Opera
CivicDevelopmentGeorgiaSoutheast

Atlanta Opera to Open $45M Performing Arts Venue on the BeltLine

by Hayden Spiess

ATLANTA — The Atlanta Opera will open a $45 million performing arts venue on Woodward Way along the Atlanta BeltLine. The project is a redevelopment of the historic Bobby Jones Clubhouse. Upon completion, which is scheduled for summer 2027, the development will feature a 56,000-square-foot complex with a 200-seat recital hall, administrative offices, a costume shop, film studio, rehearsal hall and garden spaces. Theater Projects and A’kustics LLC will develop the recital hall. Allen Post of architecture firm Post Loyal is leading the design of the new facility. The project is part of the Atlanta Opera’s recently launched $110 million campaign, for which core funding has already been secured. 

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Cypress-Trace_Fort-Myers-Fla
AcquisitionsFloridaRetailSoutheast

Benderson Acquires 280,000 SF Shopping Center in Fort Myers, Florida

by Hayden Spiess

FORT MYERS, FLA. — Benderson Development has acquired Cypress Trace, a 280,000-square-foot shopping center located in Fort Myers. Grocer Winn-Dixie anchors the property, which spans 29 acres. Other tenants at the center include Five Below, Burlington and Ross Dress for Less. Benderson’s other recent acquisitions in the state include Carillon Place in Naples, North River Marketplace in Venice, Glengary Shoppes in Sarasota and Linton Commons in Delray Beach. 

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10-Davkim-Lane-Nantucket
DevelopmentIndustrialMassachusettsNortheastSelf-Storage

DXD Development Breaks Ground on 667-Unit Self-Storage Facility on Nantucket

by Taylor Williams

NANTUCKET, MASS. — DXD Development has broken ground on a 667-unit self-storage facility on Nantucket, an island located off the coast of Massachusetts. SmartStop will manage the facility, which will span 96,238 net rentable square feet, including climate-controlled and vehicle storage spaces. Park East Construction Co. will serve as the general contractor for the project, which is being financed by Centreville Bank. Completion is scheduled for the third quarter of 2025.

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Greenview-Meadows_Gastonia-N.C
AcquisitionsMultifamilyNorth CarolinaSoutheast

Gindi Equities Sells 109-Unit Greenview Meadows Multifamily Community in Metro Charlotte

by Hayden Spiess

GASTONIA, N.C. — Gindi Equities has sold Greenview Meadows, a 109-unit multifamily community located in Gastonia, roughly 20 miles west of Charlotte. Gindi, which acquired the property for $10 million in February 2021, sold the community to an undisclosed buyer for $14.5 million. Located at 1613 Greenview Drive, the development features apartments in two- and three-bedroom layouts. Amenities at the community include a pet park, playground, picnic areas and a pool with a newly renovated deck. 

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IndustrialLeasing ActivitySoutheastVirginia

NEFCO Construction Supply Signs 163,853 SF Lease Expansion at Northlake Distribution Center Near Richmond, Virginia

by Hayden Spiess

ASHLAND, VA. — NEFCO Construction Supply has signed a 163,853-square-foot lease expansion at Lingerfelt’s Northlake Distribution Center industrial development in Ashland, roughly 20 miles north of Richmond. NEFCO will occupy additional space at Building C, which is situated at 11800 N. Lakeridge Parkway. Jason Hetherington, Brad Lowry, Doug Tice and Mike Puzzo of CBRE represented the tenant in the lease negotiations. Matt Anderson and Harrison McVey of Range Commercial Partners represented Lingerfelt. Northlake Distribution Center totals 293,187 square feet. Lingerfelt acquired the property in March 2023 and has executed a capital improvement program including roof replacements, asphalt replacements, building painting and LED retrofits. 

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Windsor-8-Logistics-Center
DevelopmentIndustrialNew JerseyNortheast

Brookfield to Develop 326,087 SF Industrial Project in West Windsor, New Jersey

by Taylor Williams

WEST WINDSOR, N.J. — Brookfield Properties will develop a 326,087-square-foot industrial project in West Windsor, a northeastern suburb of Trenton. Known as Windsor 8 Logistics Center, the building will feature a clear height of 37.5 feet, 57 dock doors, two drive-in doors and parking for 163 cars and 73 trailers. Macgregor Associates Architects is designing the project, and Peak Construction Corp. is serving as the general contractor. Completion is slated for late 2025.

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Cascade-Apts-Henderson-NV
AcquisitionsMultifamilyNevadaWestern

Prism Multifamily Group Acquires 261-Unit Cascade Apartments in Henderson, Nevada

by Amy Works

HENDERSON, NEV. — Prism Multifamily Group has purchased Cascade Apartments, a multifamily property located at 1100 N. Center St. in Henderson. 3D Investments sold the asset for $45.5 million, or $174,330 per unit. Originally constructed in 1982, Cascade Apartments offers 261 one-, two- and three-bedroom apartments, with an average unit size of 949 square feet, spread across the two-story garden-style community. Patrick Sauter, Art Carll-Tangora, Steve Nosrat and Michael Albanese of Avison Young’s Sauter Multifamily Group represented the buyer and seller in the transaction.

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DevelopmentMultifamilyNew JerseyNortheast

Fields Grade, Alpine Residential Complete Two Multifamily Projects Totaling 208 Units in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — A partnership between locally based developer Fields Grade and New York City-based Alpine Residential has completed Atlas and Starling, two multifamily projects totaling 208 units in Jersey City’s Bergen-Lafayette neighborhood. Designed by MHS Architecture and GRT Architects, respectively, Atlas totals 169 units, and Starling totals 39 units. Residences at both properties come in studio, one-, two- and three-bedroom floor plans, and both buildings also house ground-floor retail space. Monthly rents at both buildings start at about $2,700.

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