FALLS CHURCH, VA. — NexCore Group and Experience Senior Living (ESL) have broken ground on The Reserve at Falls Church, a 215-unit seniors housing community in Falls Church, roughly 10 miles outside Washington, D.C. Upon completion, the property will feature independent living, assisted living and memory care units across 15 stories. Amenities at the community will include multiple restaurants, an indoor saltwater pool, spa, fitness center and a “maker space” for creative endeavors. Nuveen Real Estate is providing an undisclosed amount of capital for the project. This marks the 18th seniors housing development between NexCore and ESL. Scheduled to open in spring 2027, The Reserve at Falls Church will be situated within the 1.2 million-square-foot West Falls mixed-use community. In addition to residential units, West Falls comprises retail and restaurant space, a hotel, medical office building and central outdoor gathering space. Hoffman & Associates is the master developer of the community.
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MIAMI — The City of Miami’s Urban Design Review Board (UDRB) has approved the design of a new 12-story mixed-use tower in the city’s Little River neighborhood. The project team includes locally based developer B Developments and Stantec, which is serving as architect, MEP engineer and structural engineer for the development. The tower will be located on a 3.5-acre site at 79th Street and Biscayne Boulevard and feature 355 apartments, 589 parking spots and 35,500 square feet of retail space on the ground level. Set to break ground next year, the property will feature a mix of studio, one-, two- and three-bedroom apartments, as well as a beach entry pool, fitness center, outdoor dining terrace and a shaded pet area.
GREER, S.C. — Northmarq has arranged the $49.3 million sale of Ryder Junction, a 264-unit apartment community located at 900 Conductor Circle in Greer, a city in South Carolina’s Upstate region. Andrea Howard, John Currin, Allan Lynch, Caylor Mark, Jeff Glenn and Austin Jackson of Northmarq represented the seller, Proffitt Dixon Partners, in the transaction. Additionally, Faron Thompson, Grant Harris and Cabell Thomas of Northmarq originated a $31.7 million Fannie Mae acquisition loan on behalf of the borrower, The Beach Co. Built in 2023, Ryder Junction features one-, two- and three-bedroom apartments, as well as a clubhouse, pool, dog park, coworking suites, fitness center and detached garages.
MIAMI — A partnership between DXD Capital and Olympus Ventures has completed a 774-unit, three-story self-storage facility located at 11210 N.W. 105th St. in Miami. Extra Space Storage manages the facility, which spans 74,388 net rentable square feet. ARCO was the general contractor for the climate-controlled storage property, and TBK Bank provided an undisclosed amount of construction financing.
KNOXVILLE, TENN. — Hunter Hotel Advisors has brokered the sale of TownePlace Suites Knoxville Cedar Bluff, a 97-room hotel located near the I-75 and I-40 connector in Knoxville. Tim Osborne of Hunter represented the institutional seller in the transaction. The buyer and sales price were not disclosed. Amenities at the hotel include a 24/7 fitness center and an outdoor swimming pool.
WILMER, TEXAS — Logistics Property Co. has landed a full-building tenant at Building 1 of Southport Logistics Park, the Chicago-based developer’s 1 million-square-foot warehouse in the southern Dallas suburb of Wilmer. The tenant is CJ Logistics America, the supply chain subsidiary of South Korean conglomerate CJ Group. Rob Wheeler, Trevor Ragsdale, Melissa Holland and J.M. Priddy of JLL represented the tenant in the lease negotiations. Kacy Jones and John Hendricks of CBRE, along with internal agents Max Mueller, Daniel Davidson, Jonathan Snow and J.C. Hay, represented the landlord. Southport Logistics Park comprises three buildings on a 252-acre site.
GARLAND, TEXAS — Rise48 Equity, an investment firm with offices in Phoenix, Dallas and Charlotte, has acquired Gateway Place Apartments, a 142-unit multifamily complex in the northeastern Dallas suburb of Garland. According to Apartments.com, the property was built in 1983, features one-, two- and three-bedroom units and offers amenities such as a pool, dog park and outdoor grilling and dining stations. The new ownership plans to invest $3.4 million in capital improvements to the unit interiors and building exteriors and rebrand the property as Rise Gateway. The seller and sales price were not disclosed.
BENBROOK, TEXAS — Mooring, a provider of disaster recovery and commercial restoration services, has signed a 62,391-square-foot industrial lease in Benbrook, located southwest of Fort Worth. The space is located within Building 1 of Chisholm 20, a four-building, 917,374-square-foot development. Steve Koldyke, Kacy Jones and Brian Gilcrest of CBRE represented the landlord, locally based developer Jackson-Shaw, in the lease negotiations. Jeff Rein and Charles Brewer of Stream Realty Partners represented the tenant, which is relocating and expanding from Grand Prairie and will move in during the first half of 2025.
COLLEGE STATION, TEXAS — Dallas-based Carbon Shepherd Development has completed an 60-unit multifamily project in College Station. The property, which is operated under the company’s Woodland Cottages brand, offers one- and two-bedroom units, with private balconies/patios and attached garages available in select residences. Amenities include a pool, fitness center and a clubhouse with a game room. Rents start at $2,600 per month for a one-bedroom unit.
HOUSTON — Sheppard Mullin will open a 29,800-square-foot office in downtown Houston. The space is located on the 25th floor of the 47-story Texas Tower building, and the law firm plans to take occupancy in the fourth quarter of next year. Kevin Kushner, William Padon and Sydnee Hilburn of CBRE represented the tenant in the lease negotiations. Michael Anderson of Cushman & Wakefield represented the landlord, a partnership between Hines, Ivanhoé Cambridge and an affiliate of global investor CDPQ.