Wednesday, July 23, 2025
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AcquisitionsMississippiSoutheastStudent Housing

TSB Realty Brokers Sale of 802-Bed Student Housing Community Near Mississippi State University

by John Nelson

STARKVILLE, MISS. — TSB Realty has brokered the sale of HELiX Starkville, an 802-bed student housing community located near the Mississippi State University (MSU) campus in Starkville. Columbus Pacific sold the property to a joint venture between Pumphouse Residential Group and WeldenField for an undisclosed price. SPM, an affiliate of PRG and WeldenField, will provide comprehensive property and construction management services for the community. Delivered in 2016, HELiX Starkville offers fully furnished units in a mix of one-, two- and four-bedroom floorplans on the southeastern edge of the MSU campus. Amenities include a two-story fitness center, resort-style pool, clubhouse with billiards, study enclaves and community TVs, tanning, gaming and coffee lounges and an outdoor grilling area. The property was 95 percent occupied at the time of sale.

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DevelopmentHospitalityLoansMixed-UseSoutheastTennessee

Concord Summit Capital Secures $25M Loan for Park Place Equinox Hotel Tower in Downtown Nashville

by John Nelson

NASHVILLE, TENN. — Concord Summit Capital has secured a $25 million bridge loan for Park Place Equinox, a hotel tower located within the 2.1-acre Park Place master-planned community in downtown Nashville. The loan will refinance an existing acquisition facility and provide pre-development funding for the project that will support final design and entitlement work. Kevin O’Grady, David Larson and Keegan Burger of Concord Summit’s Miami office arranged the financing on behalf of the co-developers, The Congress Group and Taurus Investment Holdings. The hospitality tower will be one of the first new developments branded and operated by Equinox Hotels. Plans for Park Place Equinox will include an 18,000-square-foot Equinox Club and spa, rooftop pool and lounge and exclusive resident amenities. At full build-out, the three-tower Park Place development will feature a 239-unit luxury condominium tower, 245-room hotel, 480-unit apartment building, more than 25,000 square feet of ground-floor retail space, a 962-space underground parking garage and 50,000 square feet of elevated park and open green space. Park Place is currently in pre-development phases, with vertical construction anticipated to begin in 2026.

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DevelopmentHealthcareNorth CarolinaRetailSoutheast

UNC Health Pardee Breaks Ground on 39,000 SF Adaptive Reuse Clinic in Downtown Brevard, North Carolina

by John Nelson

BREVARD, N.C. — UNC Health Pardee, a health system managed by UNC Health that operates hospitals and clinics in Western North Carolina, has broken ground on a 39,000-square-foot adaptive reuse project in downtown Brevard. The developers behind the project include Riddle Development LLC, Layr LL and Osprey Capital. The team acquired the property, a 1960s-era retail strip center, for $2.6 million. Medalist Capital and United Community Bank are providing construction financing for the redevelopment, which is anticipated to cost $15 million in renovations. Upon completion, the new medical office building will feature 48 exam rooms for primary care services, a retail pharmacy, specialty rotation services, a 50-person conference and community room and a 300-person waiting room and event space. UNC Health Pardee plans to take occupancy in January.

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Trolley-North-Apts-Salt-Lake-City-UT
DevelopmentMultifamilyStudent HousingUtahWestern

Brinkmann Constructors, Kayne Anderson Break Ground on 607-Bed Student Housing Community in Salt Lake City

by Amy Works

SALT LAKE CITY — Brinkmann Constructors, in partnership with Kayne Anderson, has broken ground on Trolley North Apartments, an eight-story student housing community in Salt Lake City. The 395,000-square-foot property will offer 200 apartments units, totaling of 607 beds, and four levels of parking. Located near the University of Utah, Trolley North Apartments is being built in two phases. The first phase consists of the six-month construction of an eight-story stair tower to support rooftop cellular equipment. The cellular equipment must be relocated before the start of the second phase — the construction of the student housing development. BKV Group will serve as the project architect.

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La-Alameda-Shopping-Center-LA-CA
CaliforniaLoansRetailWestern

PSRS Arranges $40M Refinancing of 245,000 SF Shopping Center in Los Angeles

by Amy Works

LOS ANGELES — PSRS has arranged a $40 million loan for the refinancing of La Alameda Shopping Center, a 245,000-square-foot property located in the Los Angeles neighborhood of Walnut Park. The 18.3-acre center comprises six building clusters and features Spanish architecture, pedestrian-friendly courtyards, plaza spaces, outdoor seating and a fountain. Tenants at the property include Ross Dress For Less, CVS Pharmacy, Marshalls, Don Chente Bar & Grill, Wingstop, Dollar Tree, Chuck E. Cheese, Panda Express, GameStop, Cold Stone Creamery, Petco and Bath & Body Works. Kostas Kavayiotidis, Mike Davis and Jacob Lee of PSRS arranged the nonrecourse CMBS loan, which carries a 10-year term.

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AcquisitionsCaliforniaMixed-UseMultifamilyOfficeWestern

Manova Partners Buys Parallel on Fourth Mixed-Use Property in San Mateo, California

by Amy Works

SAN MATEO, CALIF. — Manova Partners has acquired Parallel on Fourth, a mixed-use property in downtown San Mateo. Terms of the transaction were not disclosed. Located at 405 E. 4th Ave., the property offers 15 residential units above 62,338 square feet of office space and two levels of subterranean parking. Verkada, a provider of cloud-based security and operating systems, fully occupies the office space and master leases 13 of the residential units. The remaining units are offered at below market-rate rents. Eric Ramm of Manova negotiated the transaction on behalf of Manova Partners. Will Connors and Adam Lasoff of JLL Capital Markets represented the seller in the deal.

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Foster-Creek-Apts-Tukwila-WA
AcquisitionsMultifamilyWashingtonWestern

Investors Management Group Sells 179-Unit Foster Creek Apartments in Tukwila, Washington

by Amy Works

TUKWILA, WASH. — Investors Management Group (IMG) has completed the disposition of Foster Creek Apartments, a multifamily property in Tukwila. Terms of the transaction were not released. Located at 15110 Macadam Road South, Foster Creek Apartments features 179 units. IMG directed a $3.7 million capital improvement program, including remodeling the leasing office, adding a fitness center, resurfacing the parking areas, new roofs and remodeling unit interiors. The property was originally built in phases between 1968 and 1978. Ben Johnson and David Sorensen of Berkadia Seattle represented IMG in the transaction.

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AcquisitionsArizonaOfficeWestern

Commercial Retail Advisors Brokers Sale of Oracle Gateway Office Building in Tucson, Arizona

by Amy Works

TUCSON, ARIZ. — Commercial Retail Advisors has arranged the sale of Oracle Gateway, an office property at 3870 N. Oracle Road in Tucson. Spotted Fawn LLC acquired the asset from 3838 Oracle Plaza Joint Venture LLC for an undisclosed price. The two-story, 22,901-square-foot building was vacant at the time of sale. Craig Finfrock of Commercial Retail Advisors represented the seller, while the buyer was self-represented in the transaction. Ten-X facilitated the auction sale. Commercial Retail Advisors will represent Spotted Fawn LLC in the leasing of the property.

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DevelopmentIllinoisMidwestMultifamily

Q Investment Partners, Melrose Ascension Capital Open 18-Story Apartment Tower in Chicago

by Kristin Harlow

CHICAGO — Q Investment Partners (QIP) and Melrose Ascension Capital (MAC) have opened Straits Row, an 18-story rental tower combining traditional apartments with co-living units in Chicago’s South Loop. Located at 633 S. LaSalle St. within the historic Printers Row neighborhood, the 132-unit building offers 358 private, fully furnished residential spaces. Singapore-based QIP sponsored the development and collaborated with MAC as its Chicago-based, local partner to co-develop the project. QIP acquired the site from PMG and The Collective. Straits Row represents QIP’s flagship residential development in the United States and builds on its Straits-branded student housing and co-living communities in the United Kingdom. Straits Row provides a range of options from studios to four-bedroom layouts. In the co-living units, residents share a kitchen and living space while enjoying private bedrooms and bathrooms. Residents have access to 15,000 square feet of amenity and social spaces across two levels. The ground-level Printers Room serves as a coworking lounge with private study rooms, lounge seating, an outdoor patio and coffee bar. On the penthouse level, amenities include a resident lounge, fitness and wellness center, private dining area and pool deck. Throughout the building, a curated art program features pieces that pay tribute to …

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DevelopmentIndustrialKansasMidwest

Brinkmann Constructors Breaks Ground on 467,000 SF Warehouse in Gardner, Kansas

by Kristin Harlow

GARDNER, KAN. — Brinkmann Constructors has broken ground on Crossroads Commerce Center Phase I, a 467,000-square-foot warehouse in Gardner, a southwest suburb of Kansas City. Panattoni Development Co. is the developer. Located on a 24-acre site, the project marks the first phase of an eight-building, master-planned industrial park. Gray Design Group is the architect.

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