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DevelopmentFloridaSoutheastStudent Housing

Harrison Street, Core Spaces to Break Ground on 1,195-Bed Student Housing Development in Tampa

by John Nelson

TAMPA, FLA. — A joint venture between Harrison Street Asset Management and Core Spaces is set to break ground on Hub Tampa Fowler, a 1,195-bed student housing development located near the University of South Florida campus in Tampa. The community will be located within Rithm, a larger mixed-use development led by RD Management that will include hotels, entertainment and retail space. The project is scheduled for completion in 2027 and will offer units in a wide range of configurations across multiple price points, as well as expansive shared amenity spaces. Further details on the development were not released. QuadReal Property Group provided financing for the project. TSB Capital Advisors consulted on the joint venture and financing for the development. The project will mark the second for Harrison Street and Core Spaces in the Tampa market, following Hub Tampa, which was delivered in 2022.

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LoansMultifamilyNorth CarolinaSoutheast

Walker & Dunlop Provides $156.6M Agency Refinancing for Sun Belt Multifamily Portfolio

by John Nelson

BETHESDA, MD. — Walker & Dunlop has provided a $156.6 million Fannie Mae loan for the refinancing of a five-property, 1,351-unit multifamily portfolio in the Sun Belt. Allan Edelson and Joe Tarantino of Walker & Dunlop originated the loan on behalf of the borrower, Boston Capital Real Estate Partners. The names and addresses of the properties were not disclosed, but the portfolio includes assets in North Carolina and Texas.

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Affordable HousingDevelopmentGeorgiaIndustrialMixed-UseMultifamilySoutheast

Atlanta Beltline Issues RFP for Mixed-Use Development on Southside Trail

by John Nelson

ATLANTA — Atlanta Beltline has issued a request for proposals (RFP) for new mixed-use development on a site along the Beltline’s Southside Trail. The 13.7-acre site is located at 356 University Ave. near the city’s historic Pittsburgh neighborhood that the Beltline purchased in 2023. Atlanta Beltline met with more than two dozen community groups since April 2024 to discuss future plans for the site. Based on the community feedback and the Beltline’s newly completed master plan, the RFP is seeking a mix of market-rate and affordable housing, as well as a mix of commercial and industrial uses. More specifically, the RFP calls for at least 30 percent of residential units reserved as permanently affordable (10 percent at or below 80 percent AMI, 20 percent at or below 50 percent AMI); a minimum of 30 percent of total floor area dedicated to light-industrial use; affordable commercial space (at least 20 percent at rents 30 percent below market for more than 10 years); a partnership with an arts, cultural or community organization for onsite programming; and accessible green spaces, ADA pathways and Beltline connectivity. To date, the Beltline has acquired nearly 90 acres preserved for residential and commercial affordability for both residents …

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Build-to-RentDevelopmentGeorgiaMultifamilySingle-Family RentalSoutheast

Parkland Residential Begins Leasing 140-Unit Build-to-Rent Townhome Community in Sugar Hill, Georgia

by John Nelson

SUGAR HILL, GA. — Parkland Residential, the build-to-rent (BTR) division of Parkland Communities, has begun leasing Park Ridge, a 140-unit BTR community located at 100 Park Summit Blvd. in Sugar Hill, a northeast suburb of Atlanta in Gwinnett County. Phase I of the development, which comprises 72 rear-entry, stacked townhomes, is underway. Parkland Residential has delivered a model home at Park Ridge that prospective renters can now tour. Each unit will be configured in one of two floorplans: a three-bedroom, 1,950-square-foot townhome branded The Dogwood and a two-bedroom, 1,600-square-foot townhome branded The Laurel. All units will feature a one-car garage, separate tub and showers in the master bathroom and a master bedroom with a walk-in closet.

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AcquisitionsNorth CarolinaRetailSoutheast

SRS Brokers $7M Sale of New Store in Castle Hayne, North Carolina Leased to Tractor Supply

by John Nelson

CASTLE HAYNE, N.C. — SRS Real Estate Partners has completed the $7 million sale of a newly built, 21,930-square-foot store in Castle Hayne leased to Tractor Supply. The store is situated on 11.5 acres at 3400 Castle Hayne Road, roughly 11 miles north of Wilmington, N.C. Tractor Supply had 14 years remaining on its corporate-guaranteed lease at the time of sale. Calvin Short of SRS represented the seller, a developer based in Pine Hurst, N.C., in the transaction. Pierce Mayson of Matthews Real Estate Investment Services represented the buyer, an unnamed investor based in Conyers, Ga., that was completing the second leg of a 1031 exchange.

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Market ReportsMixed-UseRestaurantRetailSoutheastSoutheast Market ReportsVirginia

Richmond’s Mixed-Use Boom Fuels the City’s Retail Market

by John Nelson

The Richmond retail market has maintained strong fundamentals as the city’s diverse economic base and solid residential growth continue to fuel a historically low vacancy rate.  Demand is very strong from a variety of uses, ranging from soft goods and restaurants to entertainment and personal services such as med spas and boutique fitness. The coffee segment, long dominated by Starbucks Coffee, has seen a number of new competitors enter the market. Dunkin’ has been on a strong growth cycle, and more recently Dutch Bros Coffee, Scooters Coffee, Foxtail Coffee and PJs Coffee have been actively looking for sites. 7 Brew has been particularly active, opening two new stores and filling their pipeline with additional sites.   However, the real story in Richmond is the number of mixed-use projects that are in the planning stages or have broken ground, with virtually all of them anchored by a grocery store.  In Chesterfield County, the first phase of development for Springline at District 60 is near completion. Located at the intersection of Midlothian Turnpike and Chippenham Parkway, work was recently completed on a new 150,000-square-foot office building anchored by Timmons Group, while the 298-unit apartment building, The James at Springline, is nearing completion. …

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Town-Laurel-Crossing-Buford-Georgia
AcquisitionsGeorgiaLoansMultifamilySoutheastTop StoriesWalker & Dunlop

Walker & Dunlop Arranges Sale, Acquisition Financing for Metro Atlanta Apartment Communities Totaling 707 Units

by Taylor Williams

BUFORD AND KENNESAW, GA. — Walker & Dunlop (NYSE: WD) has arranged the sale of and provided Freddie Mac acquisition financing for Town Laurel Crossing and Manor Barrett, two apartment communities in the metro Atlanta area totaling 707 units. The transactions represent a total of $352.8 million in capital movement and placement. The name of the borrower, a private multifamily owner-operator, was not disclosed. Both properties are currently listed under rebranded names on the website of Denver-based Mission Rock Residential, which provides third-party management services for the assets. The properties were both built in 2024. Chris Goldsmith, Telly Fathaly and Cameron Dunn of Walker & Dunlop represented the seller, Related Group, in both transactions. Mary Stuart Hurst and Fletcher Dunn of Walker & Dunlop led the debt origination efforts on behalf of the new owner. Town Laurel Crossing is a 360-unit community located within the Exchange at Gwinnett shopping district in Buford, a northeastern suburb of Atlanta. According to Apartments.com, the property offers one-, two- and three-bedroom units that range in size from 752 to 1,550 square feet. Amenities include a pool, fitness center, lounge, clubhouse, dog park and outdoor grilling and dining stations. Manor Barrett is a 347-unit community …

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DevelopmentFloridaIndustrialSoutheast

Foundry, Wheelock Street Capital to Develop 474,000 SF Festival Logistics Park in South Florida

by John Nelson

POMPANO BEACH, FLA. — A partnership between Foundry Commercial and Wheelock Street Capital has purchased the former Festival Flea Market site at 2900 W. Sample Road in Pompano Beach. The duo plans to transform the 25-acre property into Festival Logistics Park, a 474,000-square-foot development with three buildings ranging in size from 60,000 to 300,000 square feet. Two of the buildings will front Sample Road, and all buildings will feature 32- to 36-foot clear heights, ESFR sprinkler systems, dock-high loading and ample parking. Foundry and Wheelock Street Capital plan to begin demolition of existing structures on the Festival site in the fourth quarter and deliver the park by the end of 2026. The co-developers have tapped Nick Wigoda and Steve Medwin of Stream Realty Partners to manage leasing at Festival Logistics Park.

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AcquisitionsAlabamaSoutheastStudent Housing

Walker & Dunlop Negotiates Sale of 452-Bed Student Housing Community Near Auburn University

by John Nelson

AUBURN, ALA. — Walker & Dunlop has negotiated the sale of The French Quarter, a 452-bed student housing community located near Auburn University in Alabama. Built in 1997 and renovated in 2023, the property features New Orleans-inspired architecture and offers 207 units in one-, two-, three- and five-bedroom configurations. Shared amenities include a pool, lounge, student center, café, dog park, community green space and a fitness center. Patrick Chisholm, Brian Malone and William Scott sold the property to Matt Genesio and Collegetown Communities for an undisclosed price. Chris Epp, Matthew Chase, Craig Miller, Holden Penn, Ben Sarna, Sarah Foronda and Naomi Bludworth of Walker & Dunlop represented the seller in the transaction. Will Baker, William Shell and Mike Shropshire, also with Walker & Dunlop, arranged acquisition financing on behalf of the buyer. The sales price and loan amount were not disclosed.

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DevelopmentFloridaIndustrialSoutheast

Miller Construction Underway on $31M Expansion of Sherwin-Williams Distribution Center in Central Florida

by John Nelson

WINTER HAVEN, FLA. — Miller Construction is underway on the $31 million expansion of the Sherwin-Williams Distribution Service Center in Winter Haven. Using tilt-wall construction, the general contractor is adding 296,705 square feet spread across two large warehouses, a truck maintenance building, trailer maintenance building and offices. The new construction adds 298,151 square feet (including a pergola area), which is an expansion of approximately 79 percent of the existing 384,000 square-foot facility. Additionally, Miller Construction is upgrading 3,386 square feet of existing office space and expanding the existing South Building with a 49-foot clear-height ceiling and 15,120 square feet of new exterior wall, while the North Building is receiving a 28-foot clear-height ceiling and 2,904 square feet of new exterior wall. The project team includes C4 (architects and MEP), Richard Adams Engineers (structural), Structural Services Inc. (slab consultant) and Kimley-Horn (civil engineer).

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