HIALEAH, FLA. — A partnership between Prestige Cos. and Brunetti Organization has completed Flamingo Village, a 341-unit apartment community located at 2200 E. Fourth Ave. within the 200-acre Hialeah Park Race Track & Casino campus. The community is situated on 13 acres and represents the largest development on the site since the casino opened in 2013. Brunneti is the master developer of Hialeah Park, which is located about 11.5 miles northwest of Miami. Centennial Bank provided a $60.7 million construction loan to the co-developers for Flamingo Village, which features floorplans ranging in size from 890 to 1,375 square feet in garden-style and townhome layouts. Monthly rental rates range from $2,600 to $3,375, according to Apartments.com. Amenities include two clubhouses, swimming pools, wide landscaped walkways, a fitness center with a yoga and meditation studio, business center, pet play area, a park and tanning deck. Flamingo Village is situated within walking distance of the Hialeah Metrorail station.
GREENVILLE, S.C. — JLL has arranged a $59 million loan for the cross-collateralized, cash-out refinancing of three affordable housing communities in the Upstate South Carolina region totaling 598 units. The properties include Paris Park and Terrain at Haywood in Greenville and Mauldin Meadows in Mauldin. Carter Wroblewski, Taylor Allison and Sydney Powell of JLL arranged the three-year, interest-only loan through Truist Bank. The borrower, Affordable Upstate, purchased the properties between December 2021 and September 2022 and has since invested $13.6 million in capital improvements. The company purchased each community using a similar equity structure, which allowed for the cross collateralization, according to JLL. The properties are managed by NOAH Property Management and feature self-imposed rent restrictions of 60 percent and 80 percent of the area median income (AMI).
Cushman & Wakefield Commercial Advisors Negotiates Sale of 169,272 SF Industrial Facility in Memphis
MEMPHIS, TENN. — Cushman & Wakefield Commercial Advisors has negotiated the sale of a 169,272-square-foot industrial facility located at 4481 Distriplex Cove in Memphis. Olymbec USA LLC, a division of Montreal-based industrial owner Olymbec, purchased the property from tire manufacturer and distributor China Manufacturers Alliance LLC (CMA LLC) for an undisclosed price. Landon Williams and Katie Hargett of Cushman & Wakefield Commercial Advisors represented the seller in the transaction, and Brian Califf of NAI Saig represented the buyer.
CHICAGO — Vestian, a Chicago-based commercial real estate services firm, has recently secured three commercial leases in North Carolina for three global manufacturers. The deals include an industrial lease for HEYCO-Werk USA, a tech manufacturer for plastic injection and two-shot molding; a lease for a new experience center in Charlotte for corrugated box manufacturer BHS Corrugated; and an industrial lease for BICASA North America, a provider of technical lab furniture. Information on the landlords and specific locations were not released.
JACKSON, MISS. — Legacy Realty Group Advisors has arranged the sale of Westland Plaza, a 214,281-square-foot shopping center located in Jackson, for $11.8 million. Grocery Depot anchors the property, which is also home to a mix of additional tenants including Planet Fitness, Family Dollar, Hibbett Sports, Rent-A-Center, Rainbow Shops and City Gear. Jacob Baruch, Daniel Baruch and Ari Warshaw of Legacy Realty Group represented the buyer in the transaction. Beezie Landry and Justin Langlois of Stirling Investment Advisors represented the seller. Both parties requested anonymity.
WASHINGTON, D.C. — The U.S. economy has added 64,000 non-farm payroll jobs in November and lost 105,000 jobs in October, according to the U.S. Bureau of Labor Statistics (BLS). The BLS included the October figures into the November report due to complications with the federal government shutdown, which lasted for 44 days in October and early November. The bureau, which also delayed the release of the consumer price index and producer price index in October, plans to release the December jobs report on Jan. 9, 2026. The November figure was higher than the 45,000 estimate from Dow Jones economists, according to CNBC. The news outlet also reported that the economists didn’t make an official estimate for the October report but were largely anticipating a drop in employment. In addition to the delayed report, the BLS also revised downward the employment figures for August, from a loss of 4,000 jobs to -26,000, and September, from 119,000 jobs to 108,000. The U.S. unemployment rate also ticked up 20 basis points from September to 4.6 percent in November, its highest level since September 2021. Federal government employment continued to decrease in November with a loss of 6,000 jobs. This follows a decline of …
RICHMOND, VA. — Virginia’s largest hotel owner and operator Shamin Hotels has broken ground on Hilton Richmond The Mondelle, a 270-room full-service hotel and conference center located in Chesterfield County. The $160 million project will anchor Springline at District 60, a $1 billion mixed-use development underway at the intersection of Midlothian Turnpike and Chippenham Parkway. The Mondelle will feature more than 30,000 square feet of meeting space, including a 12,600-square-foot grand ballroom. The 11-story hotel will also include a signature restaurant with outdoor dining, a second-floor indoor/outdoor executive meeting center with a biergarten, a rooftop restaurant and cocktail bar, as well as an infinity pool. Truist Bank provided construction and bond financing for the project, which represents the first full-service hotel and conference center to be constructed in the Richmond market since 2009.
AUBURN, ALA. — A joint venture between Landmark Properties and Manulife Investment Management has acquired a 3.3-acre development site at 141 Wright St. near Auburn University in Alabama. The partnership will soon break ground on The Mark Auburn, an 825-bed student housing community that is expected for completion in fall 2028. The mid-rise development will offer 329 fully furnished units in studio through five-bedroom floorplans. Amenities will include a clubhouse, rooftop swimming pool, Jumbotron, fitness center, sports simulator, study lounge, café, computer labs and grilling areas and fire pits. The community will also offer 853 parking spaces alongside bicycle/scooter storage. The development team for the project includes Peninsula Investments, BKV Group and Landmark Construction.
FARRAGUT, TENN. — Indiana-based Trinitas Ventures and Millstone have plans to deliver Laster Farms at Turkey Creek, a 320-unit multifamily community located in the Knoxville suburb of Farragut. Millstone will serve as the general contractor for the project. The $80 million development will comprise 240 apartments and 80 townhomes with one-, two- and three-bedroom floorplans. Amenities at the complex will include a clubhouse, fitness center, resort-style swimming pool, golf simulator, outdoor lounge areas and entertainment lawns. Monthly rental rates are expected to range from $1,800 to $2,800.
WHITSETT, N.C. — A joint venture between Buchanan Capital Partners (BCP) and Crow Holdings Development has recapitalized a two-building industrial campus located in Whitsett, a city near Greensboro in North Carolina’s Piedmont Triad region. The 423,852-square-foot project, dubbed Rock Creek Center, will be situated in close proximity to the $14 billion Toyota battery manufacturing campus and the $860 million Food Lion Distribution Center. In addition, the project is within an unnamed mixed-use park that includes tenants such as Amazon, FedEx, Duke Energy, Lenovo, Ralph Lauren and American Express. Developed by Crow Holdings, the campus will feature two 211,926-square-foot buildings, with each featuring 32-foot clear heights, 2,500 square feet of office space, 38 dock doors, two drive-in doors and 205-foot truck courts, as well as about 255 car parking spaces. Completion of the project is scheduled for 2027. Rock Creek Center marks BCP’s first joint venture with Crow Holdings. ARCO Murray will serve as general contractor, while the North Carolina division of Crow Holdings’ industrial team will manage the complex. Dodson Schenck and Will Henderson of CBRE will lead leasing efforts.
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