Thursday, June 19, 2025
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DevelopmentMultifamilyNorth CarolinaSoutheast

RangeWater Completes Two Charlotte Apartment Communities Totaling 561 Units

by John Nelson

CHARLOTTE, N.C. — RangeWater Real Estate has completed two apartment communities in Charlotte: Raven South End (261 units) and The Kendry (300 units). The two developments add to Atlanta-based RangeWater’s portfolio of 15 properties under management in North Carolina totaling 5,327 units, the majority of which are in Charlotte’s South End. Raven South End is located at 536 W. Tremont Ave. and features one- and two-bedroom apartments ranging in size from 665 to 1,346 square feet. Monthly rental rates range from $1,755 to $3,200, according to Apartments.com. Amenities include a top-floor sky lounge, fitness center, pool, 10,000 square feet of open green space and a dog park. ParkProperty Capital was RangeWater’s equity partner on Raven South End. Located at 8402 IBM Drive in Charlotte’s University City district, The Kendry features one-, two-, and three-bedroom floor plans ranging between 704 and 1,409 square feet in size. Monthly rental rates range from $1,381 to $2,283, according to Apartments.com. Designed by Poole & Poole Architecture, the property’s amenities include a resort-style outdoor pool, two courtyards with firepits, a dog park, fitness center, craft and game room and a Zoom room. 

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AcquisitionsHealthcareKentuckyLoansSoutheast

Cushman & Wakefield Arranges $15M Acquisition Financing for Two Medical Office Buildings in Paducah, Kentucky

by John Nelson

PADUCAH, KY. — Cushman & Wakefield has arranged $15 million in acquisition financing for a pair of medical office buildings in Paducah, a Western Kentucky city situated along the Ohio River. The properties are located at 100 and 200 Clint Hill Blvd. and total nearly 62,000 square feet. Mercy Health-Lourdes Hospital LLC, an orthopedics affiliate of Bon Secours Mercy Health, fully occupy both properties. Tyler Morss of Cushman & Wakefield’s Healthcare Capital Market Team arranged the financing on behalf of the borrower, Montecito Medical Real Estate. The direct lender and seller were not disclosed, though Cushman & Wakefield stated the lender was a bank.

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GeorgiaLeasing ActivityRestaurantRetailSoutheast

Poag Adds Five More Tenants at Avenue West Cobb Shopping Center in Marietta, Georgia

by John Nelson

MARIETTA, GA. — Poag Development Group, a Memphis-based company formerly known as Poag Shopping Centers, has signed five new tenants at Avenue West Cobb in Marietta, roughly 20 miles northwest of downtown Atlanta. The Peach Cobbler Factory has opened a 1,400-square-foot restaurant at the property, with restaurant Le’ Zia scheduled to open later this month in a 9,580-square-foot space. Additionally, lifestyle brand J.Jill has signed a 3,840-square-foot lease and is scheduled to open this fall, along with Spirit Halloween, which will occupy 9,980 square feet at the center on a temporary basis. Jim ‘N Nick’s Community Bar-B-Q will also join the tenant lineup, opening a 5,874-square-foot restaurant this winter. JLL manages the property on behalf of Poag. Existing tenants at Avenue West Cobb include Barnes & Noble, Bob Steele Salon, GameStop, Jos. A. Bank, Panera Bread and Ted’s Montana Grill.

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Company NewsFloridaRestaurantRetailSoutheast

Buca di Beppo Files for Chapter 11 Bankruptcy, Plans to Keep 45 Remaining Restaurants Open

by John Nelson

ORLANDO, FLA. — Orlando-based Italian dining chain Buca di Beppo has voluntarily filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. USA Today reports that the restaurant chain claimed it owed 30 separate creditors approximately $50 million at the time of filing. The restructuring will involve 44 core restaurants, as well as a new store currently being opened. According to a press release issued by the company, it is “committed to ensuring that the restaurants operate as usual.” Gray Reed & McGraw LLP is serving as legal advisor to the company, and CR3 Partners LLC is acting as financial advisor, as well as providing corporate leadership as the chief restructuring officer. Stout Capital is acting as investment banker on behalf of the brand. “By restructuring with the continued support of our lenders, we are paving the way toward a reinvigorated future,” says Rich Saultz, president of Buca di Beppo.

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DevelopmentFloridaMultifamilySoutheast

Madison Capital Secures $47M Construction Financing for Multifamily Development in Bradenton, Florida

by John Nelson

BRADENTON, FLA. — Madison Capital Group has secured a $47 million loan for the construction of Madison Bradenton, a 240-unit multifamily development to be located on the site of the former DeSoto Square Mall in Bradenton, a city on the south side of the Tampa Bay area. Peachtree Group provided the financing. Subsidiary Madison Communities is developing the project, which will feature five four-story buildings and two carriage homes. Amenities at the property will include a clubhouse, cyber lounge, swimming pool with cabanas, outdoor kitchen with grilling areas, fitness center and dog park. BenCo, an affiliate of Madison Capital Group, is serving as the general contractor. Slocum Platts Architects is the architect, and Cavoli Engineering will act as the engineer. Construction is scheduled to begin immediately, with completion scheduled for early 2026.

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AcquisitionsDistrict of ColumbiaMultifamilyOfficeSoutheast

JLL Arranges $21.5M Sale of Office Building in DC, Buyer Plans Multifamily Conversion

by John Nelson

WASHINGTON, D.C. — JLL Capital Markets has arranged the $21.5 million sale of an office building located at 1201 Connecticut Ave. NW in the Dupont Circle neighborhood of Washington, D.C. The 12-story building comprises 190,385 square feet of Class B office space. Tom Hall, Matt Nicholson, Kevin Byrd, Jim Meisel, Andrew Weir and Dave Baker of JLL represented the seller, a subsidiary of BrightSpire Capital, in the transaction. An affiliate of Duball acquired the property, with plans to convert the development to a 161-unit multifamily community. Plans include the utilization of the ground-floor for retail space and the addition of a pool and amenity spaces to the roof. A development timeline was not disclosed.

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DevelopmentFloridaMultifamilySoutheast

EDEN Living Completes 265-Unit Multifamily Community in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — EDEN Living has completed the development of EDEN at Kendall West, a 265-unit multifamily community situated on 20 acres in Jacksonville. Located at 9105 Tredinick Parkway, the property features 193 single-story apartments and 72 two-story townhomes. Each unit includes a private backyard, with a private garage accompanying each townhome. Units at EDEN at Kendall West range in size from 700 to 1,300 square feet, with one-, two- and three-bedroom layouts. Amenities include a clubhouse, fitness center, swimming pool, dog grooming station, dog park, club room and walking trails. Monthly rental rates at the community begin at $1,425, according to the property website.

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AcquisitionsIndustrialSoutheastVirginia

SL Nusbaum Brokers $9M Sale of Former James River Transportation Building in Richmond

by John Nelson

RICHMOND, VA. — S.L. Nusbaum Realty Co. has brokered the $9 million sale of an industrial property located at 915 N. Allen Ave. in Richmond. James River Transportation formerly occupied the property, which totals 16,560 square feet situated on 4.3 acres. Jefferson Street Partners II LLC, an affiliate of Academy Bus Lines that acquired James River Transportation last year, was the buyer. Douglas Tice III of S.L. Nusbaum represented the seller, Storyland Properties, in the transaction.  

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Matt Williamson Pavlov Media FutureProofing Quote from article
Content PartnerDevelopmentFeaturesLeasing ActivityMidwestMultifamilyNortheastPavlov MediaSoutheastTexasWestern

Cost-Effective Strategies, Future-Proofing for Multifamily Internet Infrastructure

by Sarah Daniels

In the rapidly evolving landscape of multifamily technology, owners and operators face a critical challenge to staying competitive. As demand for high-speed internet and robust connectivity grows, it is essential to adapt quickly. However, constantly upgrading infrastructure can be prohibitively expensive and time-consuming. The solution lies in future-proofing properties — building an adaptable infrastructure that can support unknown future technological needs. “Future-proofing is a matter of having infrastructure capable of supporting what we don’t know we will want later,” says Matt Williamson, lead sales engineer at Pavlov Media, which provides Wi-Fi, fiber-optic internet service and managed digital services to multifamily properties. Future-proofing involves implementing scalable and flexible communication systems that accommodate both current and emerging digital demands. By focusing on future-proofing, multifamily properties can meet residents’ increasing expectations for high-speed internet and comprehensive Wi-Fi coverage while also reducing operational costs and enhancing overall efficiency. Balance Current Needs with Future Trends “Multifamily residents now expect extremely high-speed internet connections in their units and throughout the entire property, including common areas like gyms, conference rooms, pools and walking paths,” Williamson says. Residents want robust internet connections for activities such as streaming, video calls and remote home monitoring. The importance of upload speeds …

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AcquisitionsGeorgiaOfficeSoutheast

Cousins Properties, Town Lane Acquire Proscenium Office Property in Midtown Atlanta for $83M

by John Nelson

ATLANTA — Cousins Properties and Town Lane have acquired Proscenium, an office building located in the Midtown submarket of Atlanta, for $83 million. The purchase was executed through a newly formed joint venture, with Town Lane owning 80 percent of the venture and Cousins owning the remaining 20 percent. Atlanta Business Chronicle reports that the seller is an affiliate of Manulife Financial Corp. Locally-based Cousins will manage the property — which totals 526,000 square feet — and provide leasing services. Located within the Colony Square mixed-use development, the Proscenium was 74 percent leased at the time of sale. The new ownership plans to execute improvements at the property. Simpson Thacher & Bartlett LLP is providing legal counsel to Town Lane, and Eversheds Sutherland (US) LLP is serving as counsel to Cousins.

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