Southeast

Merritt Properties Receives $750M Investment, Announces Leadership Changes

by John Nelson July 8, 2026

BALTIMORE — Merritt Properties, a privately held commercial real estate developer and owner based in Baltimore, has received a $750 million investment led by Centerbridge Partners LP. The investment includes capital to grow the company’s shallow-bay industrial portfolio in existing markets in Maryland, Virginia, North Carolina and Florida, as well as new markets. As part of the investment, Centerbridge acquired the ownership interest previously held by Almanac, the private real estate investment arm of Neuberger that has partnered with Merritt since 1997. Almanac is also part of the investment group led by Centerbridge. Jefferies Private Capital Advisory served as financial adviser to Merritt in connection with the transaction, and CBRE National Partners served as real estate adviser. Miles & Stockbridge PC and Kramon & Graham PA provided legal counsel to Merritt. Simpson Thacher & Bartlett LLP served as legal counsel to Centerbridge, and Seyfarth Shaw LLP represented Almanac. Additionally, Merritt has announced changes to its C-suite of executives. Robb Merritt, the company’s current president, has been appointed to CEO, while previous CEO Scott Dorsey will transition to executive chairman. Bobby Lanigan, who previously led Merritt’s acquisitions and strategic growth initiatives, will become the firm’s new president.

July 8, 2026

Acquisitions Georgia Hospitality Southeast

Machine, Lionshead Capital Purchase 641-Room Atlanta Airport Marriott Hotel

by John Nelson July 8, 2026

ATLANTA — A joint venture between Machine Investment Group and Lionshead Capital Partners has purchased Atlanta Airport Marriott, a 641-room hotel located on a 16-acre site adjacent to Hartsfield-Jackson Atlanta International Airport. The seller and sales price were not disclosed, but the Atlanta Business Chronicle reports that the Pennsylvania Public School Employees’ Retirement System was listed as the previous owner on Fulton County property records. William Hodges and Michael Tormey of Hodges Ward Elliott brokered the transaction. The new ownership group has selected White Label Asset Management to serve as asset manager for the 16-story hotel. The property includes 30,178 square feet of indoor meeting space, including a 9,928-square foot ballroom; multiple food-and-beverage outlets; an indoor/outdoor pool complex; and a large fitness center with six pickleball courts. Machine and Lionshead Capital plan to invest in a significant capital improvement program for Atlanta Airport Marriott, whose guestrooms were last renovated in 2017.

July 8, 2026

Acquisitions Florida Office Southeast

Partnership Acquires Coral Gables Office Portfolio in South Florida for $97.8M

by John Nelson July 8, 2026

CORAL GABLES, FLA. — A partnership between Intalex Capital, Itero Investments and Greenwall has acquired The Ponce, a three-building office portfolio spanning 365,000 square feet in Coral Gables. The acquisition includes 2525 Ponce de Leon, 2555 Ponce de Leon and 152 Valencia Avenue. Chris Lee, Sean Kelly, Tom Rappa and Matthew Lee of CBRE represented the undisclosed seller, which sold the portfolio for $97.8 million. Amy Julian and Andrew Chilgren, also with CBRE, arranged $105 million in financing for the acquisition and future capital improvement through ACORE Capital. The partnership plans to invest $30 million in renovations to common areas, tenant offices and amenities. The owners have retained Hines Management as property manager and Ryan Holtzman and Lena Weeks of Cushman & Wakefield as leasing agents at The Ponce.

July 8, 2026

Development Multifamily South Carolina Southeast

Woodfield to Begin Construction on 285-Unit Apartment Community in Charleston

by John Nelson July 8, 2026

CHARLESTON, S.C. — Woodfield Development plans to soon break ground on Westbourne Ashley Landing, a 285-unit apartment community in Charleston. The property will serve as the multifamily component of Ashley Landing, a 31-acre mixed-use redevelopment in Charleston’s West Ashley neighborhood. EDENS is the master developer of Ashley Landing, which will feature 240,000 square feet of retail and commercial space, including a Publix grocery store. TD Bank provided an undisclosed amount of construction financing for the multifamily development, while PGIM Real Estate is providing equity financing. Upon completion, which is expected by third-quarter 2028, Westbourne Ashley Landing will feature studio, one-, two- and three-bedroom apartments ranging in size from 384 to 1,663 square feet. Amenities will include EV charging stations, indoor mail rooms with package concierge services, fitness facilities with private studios, a business center with work pods, grab-and-go market, pet spa and park, pickleball court and a saltwater pool with a sunbathing deck. The project team includes Housing Studio, Seamon Whiteside, Shah Interiors, S Wilkins Interiors, SPX and Carter and Carter.

July 8, 2026

Acquisitions Office Southeast Tennessee

CBRE Arranges Sale of 16-Story Moore Office Building in Nashville

by John Nelson July 7, 2026

NASHVILLE, TENN. — CBRE has arranged the sale of The Moore Building, a 16-story office building located at 827 19th Ave. S in Nashville. Shorenstein Investment Advisors purchased the 245,826-square-foot building from Atlanta-based Portman Holdings. Patrick Gildea, Matt Smith, Roscoe High, JT Martin and Morgan Hillenmeyer of CBRE represented the seller in the transaction. JP Cordeiro, Cliff Joyner and Mike Ryan of CBRE’s Debt & Structured Finance team arranged acquisition financing for the buyer. The sales price and loan amount were not disclosed. Built in 2023, The Moore Building is situated in Nashville’s Midtown district and features 9,000 square feet of ground-level retail space, an 11,000-square-foot amenity deck, a sky lobby and lounge, fitness center, conference facilities and above- and below-grade parking totaling nearly 600 spaces. The property is named after Scotty Moore, the longtime guitarist to Elvis Presley who had once operated a recording studio at the site. According to Nashville Business Journal, TikTok is an anchor tenant at the LEED-certified office building.

July 7, 2026

Affordable Housing Development Florida Multifamily Southeast

Trevato Breaks Ground on $120M Multifamily Development at Former Water Park in Jacksonville Beach

by John Nelson July 7, 2026

JACKSONVILLE BEACH, FLA. — Locally based Trevato Development Group has broken ground on a $120 million multifamily development at 1944 Beach Blvd. in Jacksonville Beach, about 16 miles east of downtown Jacksonville. The property will offer 415 market-rate and workforce housing apartments, as well as 1,800 square feet of retail space on the ground level and public beachfront amenities. The site formerly housed Adventure Landing, a water park that closed its doors last Halloween after three decades of operation. Trevato Development purchased the site in 2021 and began demolition of the amusement park’s buildings and infrastructure this past spring. The developer plans to begin preleasing for the new multifamily community in early 2028. The design-build team includes Dynamik Design (architect) and England-Thims & Miller (civil engineer).

July 7, 2026

Development Florida Retail Southeast

SJC Ventures Opens 43,000 SF Whole Foods Grocery Store in Doral, Florida

by John Nelson July 7, 2026

DORAL, FLA. — Atlanta-based SJC Ventures has opened a 43,000-square-foot Whole Foods Market in Doral, a western suburb of Miami. The grocery store anchors Doral Marketplace, a nearly 90,000-square-foot shopping center, and includes 500 products from Florida-based suppliers. Other tenants at Doral Marketplace include Shake Shack, J.Crew, First Watch, GoodVets, The Spot Barbershop, Pacific Dental, PNC Bank, Warby Parker, Tide Dry Cleaners, Ulta Beauty, Apizza Brooklyn Resto + Vino and Chick-fil-A. The design-build team for the Whole Foods store included architect Dynamik Design and general contractor Oak Construction.

July 7, 2026

Development Multifamily South Carolina Southeast

McShane Construction Delivers 262-Unit Apartment Development in Greenville

by John Nelson July 7, 2026

GREENVILLE, S.C. — McShane Construction has delivered District Eastside, a 262-unit apartment community located on a 9-acre site at the intersection of Pelham and Boiling Springs roads in Greenville. Flournoy Development Group is the developer of the property, which features five four-story, wood-frame buildings. Designed by Dynamik Design, District Eastside features one-, two- and three-bedroom apartments, as well as 10 live-work units and amenities including a resident lounge, heated saltwater pool, coworking lounge, hobby/art studio, fitness center and a dog park. The property also includes a separate standalone building that houses a car wash and pet spa. Monthly rental rates at District Eastside range from $1,430 to $2,838, according to Apartments.com.

July 7, 2026

Acquisitions Georgia Multifamily Southeast

Cushman & Wakefield Brokers $87M Sale of Apartment Community in Augusta

by John Nelson July 6, 2026

AUGUSTA, GA. — Cushman & Wakefield has brokered the $87 million sale of Mason Augusta, a 462-unit apartment community located at 101 Pine Forest Road in Augusta. Taylor Bird, Robert Stickel, Alex Brown, Nelson Abels and Laura Aylor of Cushman & Wakefield’s Sunbelt Multifamily Advisory Group represented the seller, Waypoint Residential, in the transaction. The buyer was Southwood Realty Co. Mason Augusta was developed in two phases in 2022 and 2024 and was 95 percent occupied at the time of sale. The property includes a mix of one-, two- and three-bedroom apartments ranging in size from 685 to 1,321 square feet, as well as a fitness center with yoga and spin studio, resort-style pools with sundecks and tanning ledges, clubhouse with e-lounge and coffee bar, game room, business center and a dining and lounge terrace with outdoor fireplace. Other amenities at Mason Augusta include an automated parcel system, dog park and indoor pet spa, garages and outdoor gathering spaces with grilling kitchens and fire pits.

July 6, 2026

Development Florida Office Southeast

Partnership to Develop 131,000 SF Office Building in Boca Raton, Florida

by John Nelson July 6, 2026

BOCA RATON, FLA. — A partnership between Butters Construction & Development Inc., PEBB Enterprises and Konsker Development plans to develop One Midtown, a 131,000-square-foot office building in Boca Raton’s Midtown submarket. The property will comprise 120,000 square feet of Class A office space and 11,000 square feet of ground-level retail space. The developers say that One Midtown is approximately 35 percent preleased. Christina Jolley, Kevin Carrasco, Tere Blanca and Danet Linares of Blanca Commercial Real Estate are the office leasing representatives, and Zach Feldman of PEBB is overseeing retail leasing on behalf of ownership. The construction timeline for the project was not released.

July 6, 2026

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