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AlabamaDevelopmentMultifamilySoutheast

Doster Construction Completes $90M Multifamily Development in Huntsville, Alabama

by John Nelson

HUNTSVILLE, ALA. — Doster Construction Co. has completed Attain at Bradford Creek, a $90 million, Class A multifamily development in Huntsville. Alexandria, Va.-based Bonaventure is the developer and property manager for the project. Located at 556 Martin Road, Attain at Bradford Creek comprises 350 one-, two- and three-bedroom apartments ranging from 839 square feet to 1,375 square feet in size. Monthly rental rates begin at $1,134, according to Apartments.com. Amenities include a resort-style pool, fitness center, clubhouse, Amazon package lockers, dog park and a pond.

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DevelopmentLeasing ActivityRetailSoutheastVirginia

Academy Sports + Outdoors to Open 65,297 SF Store in Virginia Beach

by John Nelson

VIRGINIA BEACH, VA. — Academy Sports + Outdoors has leased a 65,297-square-foot retail space in Virginia Beach. Located at 2701 N. Mall Drive, the Katy, Texas-based sporting goods and outdoor equipment retailer will be situated within Lynnhaven East Shopping Center. This marks the first store in the Hampton Roads region for Academy Sports and its fifth overall in the state of Virginia. Connie Jordan Nielsen of Cushman & Wakefield | Thalhimer manages the Virginia expansion efforts for Academy Sports + Outdoors and represented the retailer in the lease transaction.

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AcquisitionsFloridaMultifamilySoutheast

Carter Multifamily Acquires Apartment Community in Melbourne, Florida for $37.7M

by John Nelson

MELBOURNE, FLA. — Carter Multifamily, a Carter Funds company, has acquired Mode at Melbourne, a 166-unit garden-style multifamily community on Florida’s Space Coast, for $37.7 million. The seller was not disclosed. Originally built in 2020, Mode at Melbourne spans approximately 218,592 rentable square feet and was 94 percent occupied at the time of sale. The complex features one-, two- and three-bedroom floorplans ranging in size from 1,219 square feet to 1,853 square feet. Amenities include a resort-style pool and sundeck, fitness center, resident clubroom, playground, electric vehicle charging stations, car care center, dog park and select units with water views. Carter Multifamily plans to renovate the property with interior and exterior upgrades, operational efficiency improvements and a revitalization of branding. Allegiant-Carter Management, the in-house property manager of Carter Funds, will oversee day-to-day operations at Mode at Melbourne.

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AcquisitionsArkansasMultifamilySoutheast

Cushman & Wakefield Arranges $24.8M Sale of Benton Apartments in Pea Ridge, Arkansas

by John Nelson

PEA RIDGE, ARK. — Cushman & Wakefield has arranged the $24.8 million sale of The Benton, a 150-unit multifamily community in Pea Ridge, roughly 30 miles outside Fayetteville. Martin Bynum, Cole Herget and Craig Hey of Cushman & Wakefield represented the seller, an entity doing business as Aria Holdings LLC, in the transaction. The buyer was South Bend, Ind.-based HPP Equity. Built in 2024, The Benton features one- and two-bedroom floorplans ranging from 771 square feet to 1,020 square feet in size, according to Apartments.com. Amenities at the property include a 24/7 fitness center, lounge, clubhouse, grill, dog park and cabana.

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AcquisitionsSelf-StorageSoutheastTennessee

SmartStop Purchases 471-Unit Self-Storage Facility in Metro Nashville

by John Nelson

MURFREESBORO, TENN. — SmartStop Self Storage REIT Inc. has expanded its presence in the Tennessee market after acquiring a storage facility at 1323 N.W. Broad St. in Murfreesboro, roughly 35 miles southeast of downtown Nashville. The seller and sales price were not disclosed. The newly acquired facility spans 62,100 rentable square feet and features 471 storage units, including 384 drive-up units and six RV units distributed across 12 single-story buildings. California-based SmartStop has an owned or managed a portfolio of 217 operating properties in 23 states, Washington, D.C., and Canada, comprising approximately 155,700 units and 17.5 million rentable square feet.

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AcquisitionsMultifamilySoutheastTennessee

Origin Investments Purchases Queens WeHo Apartments in Downtown Nashville for $79.4M

by John Nelson

NASHVILLE, TENN. — Origin Investments has purchased Queens WeHo, a 221-unit apartment community located in downtown Nashville’s Wedgewood-Houston neighborhood. The sales price was not disclosed, but multiple media outlets report the property traded for $79.4 million. Queens WeHo represents the second acquisition of the Chicago-based buyer’s Origin Exchange Delaware Statutory Trust (DST) investment program that launched in June 2024. The seller, Proffitt Dixon, delivered Queens WeHo in 2023. The property was 94 percent occupied at the time of sale and features a mix of studio, one-, two- and three-bedroom apartments ranging in size from 559 to 1,120 square feet. The ground level features a 6,461-square-foot restaurant space fully occupied by Mercado by Butchertown. Russ Oldham led the Walker & Dunlop brokerage team in the sale. Jamie Butler, Cliff Ayers, Jason McFadden, Brett McGuire and Michael Bowles, also with Walker & Dunlop, arranged acquisition financing on behalf of Origin Investments.

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AcquisitionsGeorgiaIndustrialOfficeSoutheast

Third & Urban Buys 470,000 SF Industrial Flex Campus in Sandy Springs, Georgia

by John Nelson

SANDY SPRINGS, GA. — Atlanta-based Third & Urban has purchased Northridge Commons, a seven-building industrial flex campus in Sandy Springs, a northern suburb of Atlanta. The 470,000-square-foot property is located at 8601 Dunwoody Place near Ga. Highway 400. The seller and sales price were not disclosed. Northridge Commons was 83 percent leased at the time of sale to a variety of office, flex and warehouse occupiers, including Inspire Brands and Invitation Homes, a subsidiary of Blackstone. Third & Urban says it will reposition some of the office spaces to attract more flex industrial users.

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AcquisitionsFloridaIndustrialSoutheast

LPC, Walton Street Capital Buy Distribution Center in South Florida for $43.8M

by John Nelson

WESTON, FLA. — A joint venture between Dallas-based Lincoln Property Co. (LPC) and Chicago-based Walton Street Capital has acquired a 226,392-square-foot distribution center located at 1600 N. Park Drive in Weston, a city in South Florida’s Broward County. Munich-based Manova Partners sold the property for $43.8 million. José Lobón, Trey Barry, Frank Fallon, Royce Rose, George Fallon, Gabriel Braun and Daniel Sarmiento of CBRE represented the seller in the transaction. LPC will provide property management services and construction oversight for the distribution center, which was partially leased at the time of sale to Mondelēz International Inc., a global food-and-beverage distributor based in Chicago.

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AcquisitionsFloridaSoutheastStudent Housing

CAPREIT Acquires 800-Bed Student Housing Community Near Florida Gulf Coast University

by John Nelson

FORT MYERS, FLA. — CAPREIT has acquired Coastal Village, an 800-bed student housing community located near the Florida Gulf Coast University campus in Fort Myers. The acquisition marks the North Bethesda, Md.-based firm’s entry into the student housing sector. Coastal Village was developed in 2004 at 19401 Skidmore Way and offers fully furnished units in four-bedroom configurations. Shared amenities include a pool, fire pit, resident lounge, coffee bar, private study spaces and a fitness center. The seller and terms of the transaction were not released.

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AcquisitionsLouisianaMultifamilySoutheast

ECI Group Sells 378-Unit Apartment Community in Houma, Louisiana

by John Nelson

HOUMA, LA. — Atlanta-based ECI Group has sold Houma Highlands, a 378-unit apartment community located at 461 S. Hollywood Road in Houma, about 57 miles southwest of New Orleans. Oakwood Capital purchased the 16-building property for an undisclosed price. Larry G. Schedler & Associates and Mike Kemether of Cushman & Wakefield’s Atlanta office represented ECI Group in the disposition. Phase I of Houma Highlands was completed in 2004 by another developer. ECI Group purchased the first phase and then completed Phase II in 2012. The pet-friendly community features one-, two- and three-bedroom apartments, as well as a resort-style pool, fitness center and green spaces.

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