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Southeast

AcquisitionsFloridaHospitalitySoutheast

Trinity, Certares Sell 352-Room EAST Miami Hotel at Brickell City Centre to Blackstone

by John Nelson

MIAMI — Funds managed by Trinity Investments and Certares Real Estate Management have sold EAST Miami, a 352-room hotel located within the $1.1 billion Brickell City Centre mixed-use development. Funds affiliated with Blackstone Real Estate purchased the hotel for an undisclosed price. Built in 2016, EAST Miami features guest rooms, 89 serviced apartments and Sugar, a rooftop bar and dining venue. Trinity Investments and Certares acquired the property in 2021 from Swire Properties, the master developer of Brickell City Centre. Swire Hotels continues to operate the hotel under the company’s EAST hospitality brand.

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Affordable HousingDevelopmentFloridaSeniors HousingSoutheast

National CORE Obtains Funding for Affordable Seniors Housing Development in Gainesville, Florida

by John Nelson

GAINESVILLE, FLA. — KeyBank Community Development Lending and Investment has provided a $13 million construction loan to National CORE, a nonprofit developer, to finance Hawthorne Heights, an 86-unit affordable seniors housing project in Gainesville. KeyBank Commercial Mortgage Group also provided a $6.5 million Freddie Mac permanent loan for the project. National CORE also secured additional funding from Red Stone, which provided Low-Income Housing Tax Credit (LIHTC) equity and bonds from the Florida Housing Finance Corp. The property qualifies for tax abatement, which provides tax exemption for nonprofit-owned properties that commit to using it for providing affordable housing for a minimum of 99 years. Hawthorne Heights will serve seniors age 62 and older, with five units specifically set aside for individuals with special needs. The five-story building will be constructed on a 3-acre site, and, in addition to the special-needs units, will offer three apartments for residents earning no more than 22 percent of the area median income (AMI), nine apartments for households earning up to 40 percent of AMI and 74 apartments for households earning 60 percent or below AMI. Completion of Hawthorne Heights is slated for November 2026, and the lease-up period is expected to begin in August 2026. National …

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AcquisitionsRetailSoutheastTennessee

Matthews Negotiates Sale of 224,139 SF Greeneville Commons Shopping Center in Northeast Tennessee

by John Nelson

GREENEVILLE, TENN. — Matthews has negotiated the sale of Greeneville Commons, a 224,139-square-foot shopping center located in Greeneville, a city in northeast Tennessee near the North Carolina border. Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews represented the undisclosed seller, a repeat institutional client, in the transaction. Matthews also procured the buyer, an affiliate of Hackney Real Estate Partners. The sales price was not disclosed. Greeneville Commons was more than 90 percent leased at the time of sale to tenants including Ross Dress for Less, Hobby Lobby, Five Below, Marshalls, Bath & Body Works, Workout Anytime, Xfinity, GNC and Rack Room Shoes.

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AcquisitionsLouisianaRetailSoutheast

Marcus & Millichap Brokers $6.8M Sale of Village Square Shopping Center in Baton Rouge

by John Nelson

BATON ROUGE, LA. — Marcus & Millichap has brokered the $6.8 million sale of Village Square, a 47,000-square-foot shopping center located at 3132 College Drive near the Louisiana State University (LSU) campus in Baton Rouge. Situated near the intersection of I-10, the property is shadow-anchored by Walmart and was leased to tenants including Office Depot, Sally Beauty, Coffee Call, Classy Nails, Teatery & Tapioca and Juicy Seafood at the time of sale. Zach Taylor and Eric Abbott of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, an unnamed developer based in Tennessee, in the transaction. Steve Greer served as Marcus & Millichap’s broker of record in Louisiana in the deal. The buyer was not released. Don McMinn and Andrew Koriwchak of Taylor McMinn Retail Group also negotiated the $5.2 million sale of Village Square’s two outparcels, which are leased to Capital One and IHOP, in May on behalf of the same seller.

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Leasing ActivityMixed-UseRestaurantRetailSoutheastVirginia

Meridian Group Signs Five Retailers to Join The Boro in Tysons, Virginia

by John Nelson

TYSONS, VA. — The Meridian Group has signed five retailers to join the tenant lineup at The Boro, a transit-oriented, mixed-use development in the Northern Virginia city of Tysons. The new tenants include TileBar, Game Show Battle Rooms, Fava Pot, California Closets and NOVA Plastic Surgery & Dermatology. All five retailers plan to open their locations between late 2025 and early 2026. Ed Crilley of H&R Retail handles the retail leasing assignment at The Boro on behalf of ownership.

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FeaturesGeorgiaMultifamilySeniors HousingSoutheastSoutheast Feature Archive

InterFace Panel: Seniors Housing Developers Can Cut Costs by Eliminating ‘Wasted Space’

by Kristin Harlow

ATLANTA — In today’s high-cost environment where obtaining development financing remains tricky, seniors housing builders are focused on cutting expenses — whether it be shrinking spaces or eliminating underutilized amenities altogether. That was the major takeaway from the development panel at the 12th annual InterFace Seniors Housing Southeast conference, which took place at the InterContinental Hotel in Atlanta on Wednesday, Aug. 27. The panel, which was titled “When Will Development Rebound? Outlook & Strategies for 2026,” included Richard Ackerman, managing partner of Big Rock Partners; Joe Jasmon, CEO of American Healthcare Management Group; Tod Petty, chief investment officer of Mainstay Senior Living; Leland Rice, president of QSL Management; Bear Mahon, president and CEO of Oaks Senior Living; and Alan Moise, chief investment officer of Thrive Senior Living. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Moise, the panel’s moderator, kicked off the discussion by asking participants for their definition of “rebound.” For Rice, the answer was a return to a mature market with stabilized assets selling at full price. “For a long time, we had seen …

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DevelopmentSoutheastStudent HousingTennessee

Middle Tennessee State University, Annex Group Plan 554-Bed Residence Hall Project

by John Nelson

MURFREESBORO, TENN. — A public-private partnership between Middle Tennessee State University (MTSU) and The Annex Group has announced plans for Wommack Lane Commons, a 554-bed residence hall project on the MTSU campus in Murfreesboro. The community would replace the existing Wommack Lane Apartments, which were built nearly 50 years ago at the corner of Homecoming Drive and Blue Raider Circle. The partnership will be seeking approval for a ground lease to begin development with the State Building Commission in November. If approved, the community will offer semi-suite and suite-style units with a combination of shared and private bedrooms. Shared amenities will include an entry lounge and lounge space on each floor; a community kitchen and laundry room; private and small group study spaces; and a landscaped courtyard. The development will also include office space. Construction is expected to begin in January 2026 with completion scheduled for fall 2027. The development team includes Smith Gee Studios and SCB. The Annex Group will act as developer, general contractor, facility manager and asset manager for the community, with MTSU providing residence life and leasing services upon completion.

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AcquisitionsKentuckyRetailSoutheast

Berkeley Capital Advisors Negotiates $39M Sale of Westport Village Shopping Center in Louisville

by John Nelson

LOUISVILLE, KY. — Berkeley Capital Advisors has negotiated the sale of Westport Village, a 170,249-square-foot shopping center located at 1315 Herr Lane in Louisville. An affiliate of Richmond-based Hackney Real Estate Partners purchased the center from an affiliate of Savannah, Ga.-based Wicker Park Capital Management LLC for $39 million. David Webb, Alex Quarier and Alex McDonald of Berkeley Capital Advisors represented the seller in the transaction. Situated on 13.4 acres roughly 10 miles west of downtown, Westport Village houses 45 tenants, including Apricot Lane Boutique, Bend and Zen Hot Yoga, BoomBozz Pizza & Watch Party, Deka Lash, F45, North Lime Coffee & Donuts, Q’doba Mexican Grill, Steak & Bourbon, StretchLab, The Comfy Cow, The Wedding Studio, Westport Whiskey & Wine and Wild Eggs, among others.

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AcquisitionsIndustrialSoutheastTennessee

LRC Properties, Alpaca Real Estate Acquire 246,000 SF Industrial Facility in Smyrna, Tennessee

by John Nelson

SMYRNA, TENN. — A joint venture between New York City-based LRC Properties and private equity firm Alpaca Real Estate has acquired a nearly 246,000-square-foot industrial facility located at 802 Swan Drive in Smyrna, about 16 miles southeast of Nashville International Airport. The seller and sales price were not disclosed. The facility features three demised spaces, 58,377 square feet of which will be delivered vacant and ready for immediate occupancy. LRC Properties will undertake capital improvements at the remaining two spaces, which span 86,586 square feet and 91,669 square feet. The renovations will include demolishing 15,000 square feet of obsolete offices and a connector building to open up and repave the truck court, add new loading docks, install an ESFR sprinkler system and build-out new speculative offices.

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AcquisitionsGeorgiaRestaurantRetailSoutheast

Coro Realty Sells Chick-fil-A-Occupied Restaurant in Atlanta’s Buckhead District

by John Nelson

ATLANTA — Coro Realty has sold a newly constructed restaurant located at 3234 Peachtree Road NE in Atlanta’s Buckhead district. Chick-fil-A occupies the property on a 15-year, corporate-guaranteed ground lease. The buyer and sales price were not disclosed. Chris Bosworth and Matt Karempelis of CBRE brokered the transaction. The 5,200-square-foot restaurant is situated on 1.4 acres near the intersection of Peachtree and Piedmont roads. The Chick-fil-A, which opened in May, serves as an outparcel at Buckhead Place, a mixed-use campus that houses Marshalls, LA Fitness, Five Below, Salon Studios Beauty Mall, Amalfi Pizza and Red Phone Booth. Upcoming components at Buckhead Place include the 20-story Tower on Piedmont apartments, 171-room Hyatt Place hotel, 186-room Hampton Inn hotel and the recently delivered, 291-unit Beverly by Alta apartment community that features a three-story parking deck.

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