Southeast

ORLANDO, FLA. — JLL has arranged a $386 million construction loan for the development of InterContinental Orlando, a 700-room hotel located at 8001 International Drive in Orlando. Set to open in 2029, the 12-story hotel will span more than 900,000 square feet and be situated near Universal Epic Universe, Universal Orlando Resort, Walt Disney World Resort and the Orange County Convention Center. Kevin Davis, Mark Fisher, Jillian Mariutti, Wyatt Krapf, Henry Winchester and Martha Duff of JLL arranged the four-year, floating-rate loan through Civitas on behalf of the borrowers, Flag Luxury Group and Unicorp National Developments Inc. The loan features two one-year extension options. InterContinental Orlando will operate under the InterContinental Hotels & Resorts brand and include 105,000 square feet of meeting and pre-function space, multiple food-and-beverage venues, a conservatory, spa and wellness facilities, fitness center, lounge, pool and structured parking.

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SAVANNAH, GA. — Songy Highroads and Matthews Southwest Hospitality have topped out Signia Hotel Savannah, a 444-room hotel for the recently expanded Savannah Convention Center. Songy Highroads and Matthews Southwest Hospitality are co-developing the Signia Hotel Savannah in partnership with the Georgia World Congress Center Authority. Hilton will manage the hotel upon completion. The project was funded by a $398 million municipal bond offering through Morgan Stanley. The Savannah-Georgia Convention Center Authority owns the hotel project, which is set to open in 2028. The hotel will include more than 34,000 square feet of meeting and event space, including a 13,000-square-foot ballroom, as well as an outdoor pool and five food-and-beverage outlets.

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JACKSON, GA. — Prologis has broken ground on a nearly 1.3 million-square-foot cross-dock logistics facility at Prologis 75 Commerce Center in Jackson, a city southwest of Atlanta in Butts County. The development sits in Atlanta’s I-75 South submarket and will feature 42-clear heights, 258 dock doors, four drive-in doors, a 190-foot truck court, parking for more than 500 cars and 600 trailers, 70-foot speed bays, an 8-inch reinforced slab and two 4,000-amp connections. Prologis is pursuing LEED Silver certification for the project, which will have the capacity for both solar arrays and electric vehicle parking.

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MARIETTA, GA. — Acento Partners has acquired Legacy at West Cobb, a 395-unit multifamily property located at 2665 Favor Road SW in Marietta, a northern suburb of Atlanta, from Aspen Square Management. The apartment complex was 88 percent occupied at the time of the sale. Andrew Mays and Paul Vetter of Berkadia’s Atlanta office represented the Massachusetts-based seller in the transaction. The sales price was not disclosed. Legacy at West Cobb was built in 1970 and renovated in 2021. The apartment complex offers one-, two-, three- and four- bedroom floor plans averaging 1,139 square feet in size. The community also includes rental townhome-style residences, with 17 percent of units configured in townhome layouts.

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NASHVILLE, TENN. — Oracle Corp. (NYSE: ORCL) has broken ground on its future global headquarters in Nashville’s East Bank, advancing its investment in the city as a hub for cloud, artificial intelligence (AI) and healthcare technology. Project costs are estimated at $4.5 billion, according to local media reports. Oracle plans to create thousands of jobs as campus development progresses. Spanning roughly 78 acres, the planned campus will include retail spaces as well as a 120-room Nobu hotel and restaurant. The first buildings are expected to open in 2030. Oracle’s investment includes $175 million for public infrastructure such as a new pedestrian bridge across the Cumberland River, a public park, greenway connections and street improvements. The bridge will connect surrounding neighborhoods with the campus and park. Designed by Foster + Partners, the development will transform a former industrial site into a greener riverfront environment, with more than 1,900 trees and habitats designed with ecologists to support biodiversity. Oracle is targeting LEED Gold certification across the campus. In April 2024, the technology company announced that it would relocate its global headquarters from Austin to Nashville. Oracle had previously relocated to Austin from its longtime hub in Redwood City, Calif., in 2021. “Oracle’s …

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TAMPA, FLA. — A joint venture between Creation and PCCP has begun construction on 301 Exchange, a three-building, 330,000-square-foot industrial park located on Tampa’s east side. The 51-acre park will be situated at the intersection of U.S. Highway 301 and East Sligh Avenue, roughly two miles from I-4. 301 Exchange will comprise three rear-load buildings featuring 32-foot clear heights. The project team, including design-build firm LGE Design Build, plans to deliver the park by the end of 2027. The project represents the first development in Florida for Creation.

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RALEIGH, N.C. — A joint venture between Beacon Partners and Eagle Realty Group has broken ground on Rowan, a 386-room multifamily development located at 301 E. Six Forks Road in Raleigh’s Midtown district. The 12-acre project will comprise 350 apartments and 36 three-story townhomes. Amenities will include a resort-style pool, fitness center, coworking space and a lounge at the top level. Beacon plans to deliver Rowan in early 2029. Bank of America provided an undisclosed amount of construction financing for the project. The design-build team includes LaBella (architect), Level5 Design (interior designer), Wooten (civil engineer) and HK Jordan (general contractor).

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KNOXVILLE, TENN. — Arriba Capital has arranged a $47 million construction loan for a new 175-room Moxy by Marriott hotel in downtown Knoxville. Arriba Capital arranged the loan through an unnamed national lender on behalf of the borrower, Atlanta-based Vector Hospitality. The loan has a 77 percent loan-to-cost ratio, according to Arriba Capital. Located at 137 S. Central St., the seven-story hotel is slated to open in 2028 and offer three food-and-beverage options: The Getaway rooftop bar, Bar Moxy on the ground level and The Pop-Up Hub in the hotel’s breezeway.

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HALETHORPE, MD. — MacKenzie Commercial Services has brokered the $11.5 million sale of a 105,732-square-foot warehouse located at 4665 Hollins Ferry Road in Halethorpe, a suburb in Baltimore County. The buyer, VeryBest Wholesales, is relocating to the single-story warehouse from another location in Jessup, Md. Saver Automotive Products is the seller of the Halethorpe facility, which was delivered in 1972 and sits adjacent to I-895. Matthew Curran and Andrew Meeder of MacKenzie Commercial brokered the transaction.

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Wyndchase-Aspen

FRANKLIN, TENN. — Walker & Dunlop has arranged $110 million in financing for the acquisition of Wyndchase Aspen Grove, a 560-unit multifamily community located in Franklin, a southern suburb of Nashville. Allan Edelson, Justin Nelson, Jeremy Seid, Joe Tarantino and PJ Feichtmeier of Walker & Dunlop secured the floating-rate, interest-only loan through Wells Fargo on behalf of the borrower, an unnamed institutional client. Wyndchase Aspen Grove spans 30 residential buildings and features one-, two- and three-bedroom floorplans averaging 1,091 square feet in size. Amenities at the community, which is complemented by more than 60 acres of green space, include two swimming pools with sundecks, a 24-hour fitness center, clubhouse with a game room, outdoor gathering areas, grilling stations, cybercafé, playground, dog park and a pet wash station.

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