Thursday, May 14, 2026
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DevelopmentMultifamilySoutheastVirginia

Emerson, Philip Roper Deliver 201-Unit Apartment Community in Metro Richmond

by John Nelson

CHESTER, VA. — Locally based Emerson Cos. and independent developer Philip Roper have delivered The River Apartments, a 201-unit community located at 1350 Meadowville Technology Parkway in Chester. The Class A community is situated near the James River, which runs through downtown Richmond. The property features one-, two- and three-bedroom floorplans ranging in size from 615 to 1,489 square feet. Monthly rental rates range from $1,684 to $2,596, according to Apartments.com. Amenities include a saltwater pool with sundeck, fitness center, grilling stations, landscaped courtyards with fire pits, resident lounge and coworking/conference space. Burke & Herbert Bank provided an undisclosed amount of construction financing to the development team. The design-build team include 2PA (architect), Highmark Engineering (civil engineer), KBS (general contractor), Focus Design (interior designer) and Cite Design (landscape architect). Capital Square Living operates The River Apartments.

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AcquisitionsFloridaRetailSoutheast

Cushman & Wakefield Negotiates Sale of Publix-Anchored Shopping Center in Central Florida

by John Nelson

LONGWOOD, FLA. — Cushman & Wakefield has negotiated the sale of the Shoppes of Sweetwater, a 64,253-square-foot, Publix-anchored shopping center located at 3857 Wekiva Springs Road in Longwood, roughly 15 miles north of Orlando. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, an entity doing business as Shoppes of Sweetwater Inc., in the transaction. Washington, D.C.-based Graphite Real Estate was the buyer. The sales price was not released. Shoppes of Sweetwater, which was 94 percent leased at the time of sale, features a mix of tenants such as CVS, The Hummus Corner, Li’s Garden Chinese Restaurant, Aca-Pulquito Cocina Mexicana, Sassy Nails, State Farm Insurance, Duvall Dance Academy, Supercuts, Leslie’s Pool Supplies and Sweetwater Yoga & Fitness. The sale also included an outparcel leased to McDonald’s, as well as an undeveloped 0.6-acre parcel. Graphite Real Estate has retained John Crossman of CrossMarc Services to handle leasing for the center. Crossman was the leasing agent responsible for bringing Publix to the center in 2002, according to Cushman & Wakefield.

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FloridaLoansSoutheastStudent Housing

Walker & Dunlop Provides $53.7M Agency Refinancing for Student Housing Community in Daytona Beach

by John Nelson

DAYTONA BEACH, FLA. — Walker & Dunlop has provided a $53.7 million Freddie Mac loan for the refinancing of OnShore, a 636-bed student housing community located near Embry-Riddle Aeronautical University in Daytona Beach. Delivered in 2020, the community offers 210 units alongside shared amenities including a fitness center, study areas, an infinity pool and a flight simulator. Will Baker, Mike Shropshire, William Shell and Doug McDaniel of Walker & Dunlop originated the seven-year, floating-rate loan with a four-year interest-only period on behalf of the borrower, a partnership between L3 Campus and Aureon Partners. Austin Kinn of TSB Capital Advisors also consulted on the transaction on behalf of the borrower.

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DevelopmentHospitalityLoansMarylandSoutheast

MCEC Closes $43M C-PACE Loan for Marriott Downtown Frederick Hotel in Maryland

by John Nelson

FREDERICK, MD. — The Maryland Clean Energy Center (MCEC) has closed a $43 million loan for the development of the Marriott Downtown Frederick at Carroll Creek, a 204-room hotel underway in downtown Frederick. The Maryland Property Assessed Clean Energy (MDPACE) transaction represents the largest C-PACE loan in Maryland to date, according to MCEC, which is the administrator of the MDPACE program. Nuveen Green Capital provided the 30-year, fixed-rate financing on behalf of the locally based developer, Plamondon Hospitality Partners. The C-PACE financing will fund sustainable initiatives at the property including advanced insulation, roofing, windows, HVAC systems, LED lighting, low-flow water fixtures and hot water systems. The Marriott Downtown Frederick at Carroll Creek will be situated on 2.2 acres at 20 S. Carroll St. and feature more than 20,000 square feet of conference and event space, including a rooftop terrace and flexible indoor-outdoor venues. The hotel will also have two restaurants (one creekside and one rooftop bar and restaurant), a lobby bar and a coffee shop and market. The hotel’s target opening date was not released.

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AcquisitionsGeorgiaSoutheastStudent Housing

Campus Apartments Acquires 546-Bed Student Housing Community Near Georgia Southern University

by John Nelson

STATESBORO, GA. — Campus Apartments has acquired Monarch 301, a 546-bed student housing community located near the Georgia Southern University campus. Located along Main Street in Statesboro, the garden-style property offers 180 units in a mix of one-, two- and four-bedroom configurations. Shared amenities include a 24-hour fitness center, resort-style pool, study spaces and resident lounges. The seller and terms of the transaction were not released. The new ownership plans to upgrade the property’s high-speed internet imminently through a partnership with Campus Technologies Inc.

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DevelopmentFloridaLoansMultifamilySoutheast

Berkadia Arranges $37M Construction Loan for Apartment Development in Palm Bay, Florida

by John Nelson

PALM BAY, FLA. — Berkadia has secured a $37 million construction bridge loan to finance Astor Pointe, a 171-unit, garden-style multifamily community underway at 3400 Wedgewood Drive NE in Palm Bay. Scott Wadler, Patrick Johnson, Mitch Sinberg, Matt Robbins and Brad Williamson of Berkadia arranged the 24-month loan through RMWC on behalf of the borrower, Miami-based Midtown Capital Partners. The developer will use proceeds of the floating-rate loan to retire the existing construction debt and fund remaining completion costs as Astor Pointe delivers and stabilizes. The waterfront property will feature a mix of one-, two- and three-bedroom residences averaging approximately 870 square feet in size. Amenities will include a resort-style pool, clubhouse, fitness center, outdoor entertainment areas, dog park and spa, game room and a coffee bar.

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AcquisitionsAlabamaRetailSoutheast

Halpern Acquires 74,224 SF Shopping Center in Athens, Alabama

by John Nelson

ATHENS, ALA. — Atlanta-based Halpern Enterprises has acquired Athens Marketplace, a 74,224-square-foot shopping center located at 1061 Kelli Drive in Athens, a western suburb of Huntsville. Drew Fleming and Mark Joines of Newmark represented the privately held seller in the transaction. The sales price was also not disclosed. Built in 2024, Athens Marketplace was fully leased at the time of sale to T.J. Maxx, Ross Dress for Less, Ulta Beauty, Five Below, Rack Room Shoes, America’s Best Contacts & Eyeglasses, High Cotton Nail Bar and Therapy South.

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ArkansasDevelopmentLeasing ActivityRetailSoutheast

Planet Fitness Opens 20,000 SF Gym in Rogers, Arkansas

by John Nelson

ROGERS, ARK. — Planet Fitness has opened a 20,000-square-foot gym at Pleasant Crossing Commons, a shopping center located at 4319 S. Pleasant Crossing Blvd. in Rogers. The 24/7 gym offers strength and cardio equipment, a turf for agility training, mobility and stretching space and the members-only Black Card Spa that features massage chairs, tanning beds and recovery loungers. The new gym is the seventh location in Northwest Arkansas for Excel Fitness, one of the largest franchisees of Planet Fitness. According to LoopNet Inc., Pleasant Crossing Commons’ tenant roster includes Walmart, Walgreens, Academy Sports + Outdoors, Famous Footwear, Ross Dress for Less, Pet Supplies Plus and Starbucks Coffee. The landlord was not disclosed.

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AcquisitionsOfficeSoutheastTennesseeTop Stories

Drawbridge Realty Acquires 30-Story Bridgestone Tower in Downtown Nashville for $255M

by Kristin Harlow

NASHVILLE, TENN. — Drawbridge Realty has entered the Nashville market with the acquisition of Bridgestone Tower, a 30-story office building in the downtown district, for $255 million. Raleigh-based Highwoods Properties Inc. sold the 514,000-square-foot building, which was developed as a build-to-suit for Bridgestone Americas Inc. and completed in 2017. Eastdil Secured represented Highwoods in the sale. The property was fully leased at the time of sale and serves as the headquarters of Bridgestone Americas, the largest subsidiary of Bridgestone Corp., a publicly traded manufacturer of tires and rubber. Bridgestone Tower is situated within walking distance of Broadway, Bridgestone Arena, the Music City Center and the Country Music Hall of Fame. “Bridgestone Tower is a high-quality, mission-critical asset leased to a major global credit tenant in one of the most attractive investment markets in the country,” says Charlie McEachron, CEO of Drawbridge. With this acquisition, Drawbridge has purchased more than $740 million in assets in the past 12 months, totaling over 1.1 million square feet. Last October, the firm acquired The HIVE, a Class A office campus in Costa Mesa, Calif., that is fully leased to Anduril Industries. Drawbridge invested more than $20 million in tenant and capital improvement projects across …

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AcquisitionsMarylandSeniors HousingSoutheastVirginia

Chiron Enters Seniors Housing Sector with $425M Purchase Agreement for Three Metro D.C. Properties

by John Nelson

ALEXANDRIA, VA. AND NORTH BETHESDA, MD. — Chiron Real Estate has entered into purchase agreements to acquire three senior living communities in the metropolitan Washington, D.C., area. Chiron is acquiring the properties from affiliates of Silverstone Senior Living for an aggregate price of $425 million. The acquisitions mark the REIT’s first entry into the seniors housing sector. Chiron entered into purchase agreements to acquire The Landing Alexandria and The Riviera at Alexandria on May 1 for a total price of $249 million. On May 6, the company entered into a purchase agreement to acquire Pinnacle North Bethesda for roughly $176 million. The Landing Alexandria opened in April 2022 and totals 163 independent living, assisted living and memory care units. As of April 2026, the community was 90 percent occupied. The Riviera Alexandria opened in March of this year. Totaling 129 luxury independent living apartments across 183,000 square feet, the property was roughly 20 percent leased as of April. Pinnacle North Bethesda is currently under development and is scheduled to open in October 2026. Upon completion, the 175-unit community will feature 88 independent living units, 59 assisted living units and 28 memory care units. The property was approximately 30 percent preleased …

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