Tuesday, June 16, 2026
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DevelopmentIndustrialNorth CarolinaSoutheast

Partnership Breaks Ground on 809,141 SF Industrial Park in Durham

by John Nelson

DURHAM, N.C. — A partnership between Hines and an Ares Real Estate fund has begun construction on Parkside Commerce Center, a four-building industrial park spanning 809,141 square feet in Durham. The project will be situated along Silicon Drive and sit adjacent to Research Triangle Park. The co-developers have tapped Foundry Commercial to lead leasing and marketing at Parkside Commerce Center, which will be developed in two phases. Phase I, which is slated to deliver in fourth-quarter 2027, will include Building 1 (a 237,824-square-foot rear-load facility) and Building 2 (a 283,724-square-foot rear-load building). Both buildings will feature 36-foot clear heights and 63 trailer stalls. Phase II will include Building 3 (a 172,289-square-foot facility) and Building 4 (a 115,304-square-foot property), both of which will have 32-foot clear heights.

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GeorgiaHospitalityLoansSoutheast

Newmark Arranges $53M Refinancing for American Hotel Atlanta Downtown

by John Nelson

ATLANTA — Newmark has arranged a $53 million loan for the refinancing of The American Hotel Atlanta Downtown, a 315-room hotel located at 160 Ted Turner Drive NW in downtown Atlanta. The property dates back to 1962 as downtown Atlanta’s first integrated hotel and today is affiliated with Hilton’s Tapestry Collection. Chris Kramer, Tyler Dumon, Tate Keir and Jordan Roeschlaub of Newmark arranged the loan through Structured Hotel Capital on behalf of the borrower, locally based The RADCO Cos. The owner recently executed an $11.3 million renovation for The American Hotel Atlanta Downtown’s guestrooms, public spaces, food-and-beverage options and amenities, which includes a fitness center, outdoor pool and 13,300 square feet of event space. The hotel is situated within close proximity to the Georgia World Congress Center, Centennial Olympic Park, Mercedes-Benz Stadium, State Farm Arena, the Georgia Aquarium, College Football Hall of Fame and the World of Coca-Cola.

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AcquisitionsLouisianaMultifamilySoutheast

Muss Development, Amesbury Acquire 270-Unit Apartment Community in Lake Charles, Louisiana

by John Nelson

LAKE CHARLES, LA. — Muss Development LLC and Amesbury Cos. have acquired Erdace Apartments, a 270-unit multifamily community in downtown Lake Charles. The seller and sales price were not disclosed. The co-owners assumed a HUD-insured loan as part of the acquisition and have launched a multimillion-dollar renovation of the property, which will be rebranded as The Ryan Apartments. The capital improvement program includes upgrades and redesigns of the lobby, façades, hallways and balconies. Erdace Apartments offers studio, one- and two-bedroom apartments, as well as a clubhouse, lounge, café, fitness center, business center, indoor and outdoor pavilions and a large outdoor swimming pool.

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DevelopmentLoansMarylandMultifamilyOfficeSoutheastStudent Housing

Bayview PACE Provides $15.7M C-PACE Financing for Student Housing Conversion Project in Baltimore

by John Nelson

BALTIMORE — Bayview PACE has closed $15.7 million in C-PACE financing for Plaza Baltimore, an adaptive reuse project located at 1 S. Calvert in downtown Baltimore. The borrower, Philadelphia-based MIRA Properties, is leading the $57 million repositioning of the former bank headquarters building into 157 Class A apartments, as well as 8,162 square feet of commercial space on the ground level. Morgan State University recently announced that it will fully lease the building and operate the property for student housing. Amenities will include a rooftop deck, resident lounge, billiards, movie room and bike storage. The design-build team includes MIRA Construction, an affiliate of MIRA Properties, and locally based SETO Architects.

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AcquisitionsCompany NewsKentuckyRestaurantRetailSoutheastTop Stories

Yum Brands Agrees to Sell Pizza Hut in Two Separate Transactions Totaling $2.7B

by John Nelson

LOUISVILLE, KY. — Yum! Brands Inc. (NYSE: YUM), the Louisville-based operator of the Pizza Hut, Taco Bell and KFC franchises, has entered into an agreement to sell the Pizza Hut chain across two separate transactions with a combined value of $2.7 billion. LongRange Capital, a private equity firm based in Stamford, Conn., has agreed to purchase Pizza Hut outside of mainland China for approximately $1.5 billion. The company is financing its acquisition using funds from UBS Investment Bank. Yum China Holdings Inc. (NYSE: YUMC), which is based in Shanghai and was spun off from Yum! Brands in 2016, is acquiring the Pizza Hut holdings in mainland China for approximately $1.2 billion. Yum China says it is financing its acquisition using a combination of cash and debt financing. Yum! Brands announced in November that it began exploring strategic options for the Pizza Hut vertical. Founded in 1958, Pizza Hut is considered the second-largest pizza brand in the world with more than 15,500 restaurants in 108 countries globally and approximately $10 billion in annual system-wide sales, according to LongRange Capital. “Under LongRange and Yum China, Pizza Hut will be well-positioned for future growth with ownership that brings deep expertise in the restaurant …

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FeaturesFloridaRetailSoutheastSoutheast Feature Archive

Retailers Move Beyond Leasing to Legacy Ownership

by John Nelson

Earlier this year, Publix Super Markets purchased a portfolio of six Publix-anchored shopping centers in the Southeast for $130.4 million. The Lakeland, Fla.-based grocer has been aggressively growing its ownership portfolio of shopping centers as the company sees value in being its own landlord. Other large anchors like Walmart and Dillard’s have also purchased shopping centers and malls in recent months. Jason Donald, managing director of retail investment sales at Franklin Street, says that it’s not just the big box anchors that are getting in on the trend. Donald represents an undisclosed retail bank that is pursuing this strategy, which he says is becoming more popular as the capital markets make the ownership model more viable, especially for high creditworthy tenants. “With interest rates coming down and money being readily available, the propensity is shifting that tenants now want to own their own assets,” says Donald. “We’re seeing less leasing and more propensity to own, banks and gas stations especially are getting on that train. That’s the shift in the market we’re seeing more than anything else.” REBusinessOnline recently caught up with Donald to discuss the buyer pool for retail properties, as well as other investment sales trends including the …

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crescendo-exterior
DevelopmentFloridaLoansMultifamilySoutheast

13th Floor, Barings Receive $134M Construction Loan for Final Residential Tower at Link at Douglas in Miami

by Abby Cox

MIAMI — A partnership between 13th Floor Investments and Barings has received a $134 million construction loan for the development of Crescendo, the fourth and final residential tower located within the Link at Douglas mixed-use project in Miami. Santander Bank, TD Bank and First Horizon Bank provided financing. The first phase of Link at Douglas, which opened in 2023, included the 312-unit Core and 421-unit Cascade residential buildings, along with more than 30,000 square feet of retail space anchored by Milam’s Market. The project’s third residential tower, known as Cadence, is slated for completion in 2028 and will feature 432 apartments. With the addition of the 392-unit Crescendo in 2029, Link at Douglas will comprise approximately 1,500 residential units across four buildings. 13th Floor and Barings first broke ground on Link at Douglas in 2019. 13th Floor has multiple projects underway in South Florida, including Link at Boca in Boca Raton and Link at SoMi in South Miami.

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DevelopmentIndustrialKentuckySoutheast

Clark Beverage Group to Invest $129M for Corporate Headquarters, Distribution Facility in Bowling Green, Kentucky  

by Abby Cox

BOWLING GREEN, KY. — The Clark Beverage Group and Clark Distributing Co., both subsidiaries of C.C. Clark Inc.) are partnering with HDA for the design and construction of their new $129 million headquarters and distribution facility in Bowling Green. Scheduled to break ground this summer, the project will span 362,675 square feet and will feature a 46,600-square-foot, two-story corporate office; a 298,500-square-foot warehouse; 17,000-square-foot fleet maintenance facility; and a 575-square-foot security check-in building. The campus will also be able to accommodate an additional 135,000 square feet for future expansion, as well as 34-foot clear heights, 36 docks, automated systems and dedicated mezzanine spaces for additional storage. A separate, remote building will provide onsite servicing, maintenance and washing for delivery vehicles, complemented by an onsite fueling station. Completion of the project is anticipated for fall 2027. C.C. Clark was established in 1903 and today bottles and distributes beverages from brands including Coca-Cola, Barefoot Wine, Fairlife, Dunkin’, Vitamin Water, Hi-C, Terrapin Beer Co., High Noon, Minute Maid, Monster Energy, Powerade, Yuengling and Sam Adams.

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DevelopmentFloridaIndustrialSoutheast

Hamilton Development Breaks Ground on 307,544 SF Industrial Park in Metro Miami’s Flagler Station

by Abby Cox

MEDLEY, FLA. — Hamilton Development has broken ground on Flagler Station Logistics Center, a planned 307,544-square-foot, two-building industrial project located within the 900-acre Flagler Station business park in the Miami suburb of Medley. Flagler Station Logistics Center is slated for completion in July 2027. In October 2025, Hamilton Development finalized the acquisition of three office buildings in the Flagler Station business park, two of which are being redeveloped to become Flagler Station Logistics Center. The third building will continue to operate as office space. Building 1 will span 154,465 square feet and will feature rear-load configurations with 36-foot clear heights, 26 dock doors and three drive-in doors. Building 2 will total 153,079 square feet and will comprise rear-load configurations with 36-foot clear heights, 30 dock doors and three drive-in doors. Both buildings will include an ESFR sprinkler system and private truck court, along with immediate access to the Florida Turnpike, I-75 and the Palmetto Expressway. Steve Medwin and Nick Wigoda of Stream Realty Partners are handling leasing for Flagler Station Logistics Center.

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The-Perry
AcquisitionsMarylandMultifamilySoutheast

Sentinel Acquires 297-Unit Luxury Apartment Community Near D.C.

by Abby Cox

POTOMAC, MD. — Sentinel Real Estate has acquired The Perry, a 297-unit, luxury apartment community located in Potomac, approximately 10 miles northwest of downtown Washington, D.C. The seller requested anonymity, and the sales price was also not disclosed. Completed in 2016, The Perry spans two buildings and offers one-, two- and three-bedroom floorplans ranging in size from 767 to 1,127 square feet, according to Apartments.com. Amenities at the complex include a swimming pool with a sun deck, an outdoor entertainment space with dining and grilling areas, a clubroom with a catering kitchen, fitness center, Zen garden, private conference room, business center, entertainment lounge, fenced dog park, dog grooming spa and 8,610 square feet of ground-floor retail space.

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