Southeast

Legacy Realty Negotiates Sale of 132,737 SF Shopping Center in Enterprise, Alabama

by John Nelson June 17, 2025

ENTERPRISE, ALA. — Legacy Realty Group has negotiated the sale of Westgate Shopping Center, a 132,737-square-foot shopping center located in Enterprise, roughly 30 miles east of Dothan. Piggly Wiggly anchors the center, which features a mix of additional tenants including Petsense, H&R Block, Rituals Salon & Day Spa, Rent-A-Center, Metro by T- Mobile, Beef ‘O’ Brady’s and Yancey Parker’s. Built in 1966, the property is situated on 6.4 acres, according to LoopNet. Jacob Baruch, Daniel Baruch and Ari Warshaw of Legacy Realty Group Advisors represented the buyer in the transaction. Pat Leggett of Century 21 Regency Realty represented the seller.

June 17, 2025

Development Georgia Mixed-Use Southeast

Forsyth County Approves Plans for $3B Mixed-Use Development in Metro Atlanta, Including 18,000-Seat Arena

by Abby Cox June 16, 2025

ALPHARETTA, GA. — The Forsyth County Commission has approved plans for The Gathering at South Forsyth, a $3 billion mixed-use development located in Alpharetta, roughly 26 miles north of Atlanta. Situated near Ronald Reagan Boulevard and Union Hill Road, the 100-acre development will include an 18,000-seat arena as the centerpiece of the property, along with residential, retail and dining components. The project, which is led by Krause Sports and Entertainment, aims to attract a National Hockey League (NHL) expansion team to the region. The region hasn’t had an NHL team since the Atlanta Thrashers franchise moved to Winnipeg in 2011.

June 16, 2025

Acquisitions Florida Leasing Activity Office Southeast

SRS Real Estate Negotiates $38M Sale of Office Building in Jacksonville Leased to Deutsche Bank

by Abby Cox June 16, 2025

JACKSONVILLE, FLA. — SRS Real Estate Partners has negotiated the $38 million sale of a 150,000-square-foot office building located at 5201 Gate Parkway in Jacksonville. Deutsche Bank fully occupies the property on a long-term, corporate-guaranteed lease. Built in 2006, the three-story building sits on 13 acres. Jeff Gates of SRS Capital Markets’ San Francisco office represented the seller, a New York-based institutional investor, in the transaction. The buyer was AJC Partners LLC, a private family office based in Michigan and New York City.

June 16, 2025

Development Multifamily North Carolina Southeast

Wood Partners Breaks Ground on 336-Unit Multifamily Community in Durham, North Carolina

by Abby Cox June 16, 2025

DURHAM, N.C. — Woods Partners has broken ground on Alta Bethpage, a 336-unit multifamily community in Durham. The development is slated for completion in the first quarter of 2027. Situated between Research Triangle Park and Brier Creek, the project will offer one-, two- and three-bedroom floorplans. Amenities at the property will include a swimming pool, clubhouse, pet spa, disc golf course, walking trails and two dog parks. Alta Bethpage will be Wood Partners’ fourth project to commence construction in Durham in recent years.

June 16, 2025

Acquisitions Multifamily Southeast Virginia

Cushman & Wakefield | Thalhimer Arranges $8.9M Sale of The View at 777 Apartments in Salem, Virginia

by Abby Cox June 16, 2025

SALEM, VA. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has arranged the $8.9 million sale of The View at 777, a 72-unit multifamily community located in Salem. Situated at 777 Roanoke Blvd., the complex offers one-, two- and three-bedroom floorplans ranging in size from 579 square feet to 979 square feet. Resident amenities at the property include a playground, grill, picnic area and a dog park. Clay Taylor of Thalhimer, in conjunction with Jorge Rosa and Anthony Liberto of Cushman & Wakefield’s Mid-Atlantic Advisory team, represented the seller, an entity doing business as Caroline Forest LLC, in the transaction. The buyer was an entity doing business as 777 Salem LLC.

June 16, 2025

District of Columbia Leasing Activity Office Southeast

ADEA to Relocate D.C. Headquarters to District Center

by Abby Cox June 16, 2025

WASHINGTON, D.C. — The American Dental Education Association (ADEA) has signed a lease to relocate to the District Center at 555 12th St. NW in Washington, D.C. ADEA will occupy approximately 30,000 square feet, which is half of the fourth floor, beginning in the first quarter of 2026. ADEA’s headquarters is currently located at the Association of American Medical Colleges (AAMC) at 655 K St. NW in D.C. Andy Eichberg, Matt Pacinelli and John Klinke of Stream Realty Partners represented the landlord in the lease transaction. Susan Thomas and Thomas Brown of CBRE represented ADEA. District Center, owned by a joint venture between MetLife Investment Management and Norges Bank Investment Management, offers 850,000 square feet of office space and is 95 percent leased, with up to 6,500 square feet still available for lease. Amenities at the property include an atrium lounge, fitness center with group and personal training options, lockers, showers, ample bicycle storage and a rooftop sky lounge that spans 3,391 square feet with outdoor terraces. Retail and restaurant tenants at the center include Ristorante TOSCA, Celadon Spa & Salon, Saks OFF Fifth, Nordstrom Rack and Potbelly Sandwich Shop.

June 16, 2025

Florida Market Reports Multifamily Southeast Southeast Market Reports

South Florida Is a Magnet for Multifamily Owners, Investors and Lenders

by John Nelson June 16, 2025

South Florida remains one of the most attractive markets for multifamily investment in the United States, driven by population growth, job creation and limited rental supply. While 2024 saw slower transaction volumes, fundamentals suggest a rebound is coming in 2025. This article explores trends in investment sales, debt capital markets and joint venture (JV) equity, highlighting how strategic structuring and strong relationships are driving activity in today’s selective capital environment. Poised for sales growth Miami’s multifamily market continues to thrive, fueled by population growth, high rental demand and major developments. The city’s job market, with an unemployment rate of just 2.4 percent, is expected to grow by over 18,000 positions in 2025. Corporate expansions — like Citadel, MSC Group, Nvidia, Microsoft and Shopify — have driven demand for luxury rentals, while vacancy rates remain under 5 percent. With home prices rising over 70 percent in the past five years and mortgage rates more than doubling, homeownership is out of reach for many. As a result, demand for luxury rentals remains strong, especially in suburban areas where transit-oriented developments are emerging. One standout is Terra’s $1 billion Upland Park in West Miami-Dade County. In partnership with the county, the project includes …

June 16, 2025

Development District of Columbia Multifamily Office Southeast

Henderson Park, Lowe Commence Office-to-Residential Conversion Project in D.C.

by Abby Cox June 13, 2025

WASHINGTON D.C. — A joint venture between Henderson Park and Lowe has broken ground on an office-to-residential conversion project at 1250 Maryland Ave. in Washington, D.C. The project team includes architect Beyer Blinder Beller, interior designer KTGY, general contractor Balfour Beatty and landscape architect Oehme, van Sweden | OvS. Deutsche Bank provided a $180 million construction loan for the project. Built in 1992, the former Portals I development is an eight-story, 536,000-square-foot office building that will be transformed into an 11-story, 658,000-square-foot apartment complex. The additional three floors will be integrated into the building design to create large patios on the ninth and 11th floors. The 428-unit complex will also include 53,000 square feet of supporting retail and commercial space, as well as 428 parking spaces. Amenities at the development will include a rooftop resort-style terrace and swimming pool, resident lounge and coworking spaces, a two-story fitness center and dining and personal services offered on the ground floor. The redeveloped building has also been designed to meet LEED Gold specifications.

June 13, 2025

Development Multifamily South Carolina Southeast

SunCap, Peakline Break Ground on Markley + Main Apartment Community in Greenville

by Abby Cox June 13, 2025

GREENVILLE, S.C. — SunCap Property Group, in partnership with Peakline Real Estate Funds, has broken ground on Markley + Main, a 277-unit apartment community located in Greenville’s West End. Cline Design Associates and McMillan Pazdan Smith Architecture are designing the project, and C. Herman Construction is serving as the general contractor. The six-story complex will offer studio to three-bedroom apartments, ranging in size between 650 square feet and 1,150 square feet. Resident amenities will include a clubroom, resort-style swimming pool, fitness center, rooftop lounge, coworking spaces, golf simulator and covered parking with electric vehicle charging stations. Situated adjacent to Fluor Field, home of the Greenville Drive Minor League Baseball team, the development will also offer 10,700 square feet of street-level retail space. JLL arranged equity placement on behalf of Peakline Real Estate Funds. Leasing and property management of the complex is still being determined. Markley + Main marks SunCap’s first multifamily project in Greenville.

June 13, 2025

Florida Loans Multifamily Southeast

Newmark Arranges $111M Construction Loan for Perrin Multifamily Development in Miami

by Abby Cox June 13, 2025

MIAMI — Newmark has arranged a $111 million construction loan for The Perrin, a 310-unit multifamily development located at 901 SW 3rd Ave. in Miami’s Brickell district. Danny Matz of Newmark secured the financing on behalf of the borrower, The Empira Group. Goldman Sachs provided the loan. The 26-story project will feature a mix of studios, one-, two- and three-bedroom floorplans, 2,500 square feet of ground-floor retail space and 380 parking spaces. Amenities at the property will include a fitness center with a yoga room, coworking spaces, entertainment lounge, resort-style pool with cabanas, barbecue grills, a rooftop Zen garden and a tea room. The development also offers immediate access to I-95 and the Brickell Metrorail station. The Perrin, which is Empira’s first high-rise development in the United States, is slated for completion in 2028.

June 13, 2025

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