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640-Massman-Drive
IndustrialSoutheastTennessee

Stos Partners Acquires 169,855 SF Warehouse in Nashville for $26M

by Abby Cox

NASHVILLE, TENN. — San Diego-based Stos Partners has acquired 640 Massman Drive, a 169,855-square-foot warehouse located in Nashville, for $26 million. The infill property was fully leased to Cumberland International Trucks at the time of sale. Todd Prevost and Jackson Pavitt of Big Tent Co. represented Stos Partners in the transaction. The seller was a private investor. Aldon Cole, Brad Vansant and Jenna Frakes of JLL arranged financing for the acquisition. 640 Massman Drive was constructed in two phases and can accommodate multiple tenants. The first phase — completed in 1970 — features 22-foot clear heights, three dock-high doors, two grade-level doors and nearly 2 acres of green space. The second phase, which was completed in 2000, was an expansion that included 30-foot clear heights, five dock-high doors and one additional grade-level door.

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tessa-madison
Build-to-RentLoansSoutheastTennessee

TWO Capital, Origin Secure Construction Financing for 199-Unit Build-to-Rent Community in Madison, Tennessee

by Abby Cox

MADISON, TENN. — TWO Capital Partners and Origin Investments have secured construction financing for the development of Tessa Madison, a 199-unit build-to-rent community located in Madison, about 12 miles northeast of downtown Nashville. Patterson Real Estate Advisory Group arranged the undisclosed amount of financing through Invitation Homes. TWO Resi Build, a wholly owned subsidiary of TWO Capital Partners, will serve as the project’s general contractor. Tessa Madison is situated on 55 acres within a Qualified Opportunity Zone, which is an economically distressed area where new investments may be eligible for preferential tax treatment. The community will consist of a mix of for-rent townhomes and detached single-family rental homes, with an average unit size of 1,851 square feet. All units will feature three- or four-bedroom floorplans, two-car attached garages and private driveways. Amenities will include a resort-style swimming pool, clubhouse, fitness center, coworking space, outdoor pavilion and a dog park.

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JW-Marriott-Marco-Island-Beach-Resort
AcquisitionsFloridaHospitalitySoutheastTop StoriesUncategorized

Joint Venture Buys Marriott-Branded Hotel in Southwest Florida for $835M

by Taylor Williams

MARCO ISLAND, FLA. — A joint venture between an affiliate of Sculptor Real Estate and Miami-based hospitality firm Trinity Investments has purchased the JW Marriott Marco Island Beach Resort, an 809-room hotel in southwest Florida for $835 million. The seller, MassMutual, owned the hotel resort for the past four decades. The sales price translates to more than $1,000 per room. The purchase is being financed with a $690 million acquisition loan. Situated on more than 26 acres with a quarter-mile of private beachfront, the JW Marriott Marco Island offers a variety of suites as part of its accommodations. According to another industry publication, Hotel Management, the hotel first opened in 1971 as the Marco Island Beach Hotel & Villas and was converted to a Marriott brand following a $320 million renovation in 2017. Today, guests at the hotel can enjoy amenities such as 140,000 square feet of meeting and event facilities, 12 dining and entertainment venues and a private membership club, as well as five pools and a 24,000-square-foot spa. In addition, patrons of the hotel have access to more than 400 acres of additional golf and resort activities and features. The new ownership plans to make capital improvements to …

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AlabamaMarket ReportsOfficeSoutheastSoutheast Market Reports

Birmingham’s Office Market: Stabilizing, Adapting and Gaining Momentum

by John Nelson

We hear this question a lot: “How is commercial real estate doing in Birmingham?”  Many people assume our market is experiencing the same volatility seen in national headlines over the past few years. The reality is a bit different. Birmingham is actually a stable market. While we certainly feel broader economic shifts, our office sector has avoided many of the dramatic swings seen in larger metro areas and is gradually positioning itself for future growth.  To set the stage, Birmingham’s office market consists of approximately 18.8 million square feet of multi-tenant inventory across five submarkets, four of which include Class A properties. Overall absorption for fourth-quarter 2025 totaled negative 35,336 square feet following a positive third quarter.  However, the market still finished the year with 56,786 square feet of positive net absorption. Occupancy remained largely stable throughout the year, with the overall vacancy rate holding at 19.8 percent. Direct vacancy improved slightly to 16.6 percent by year-end. Leasing activity also remained steady across the market. In total, 640,255 square feet of office space was leased in 2025, representing an approximately 14 percent increase compared to the amount of office space leased in 2024. Class A transactions accounted for more than …

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WKU
DevelopmentKentuckySoutheastStudent Housing

Western Kentucky University Board Approves Gilbane’s $350M Student Campus Housing Development Plan

by Abby Cox

BOWLING GREEN, KY. — The Western Kentucky University (WKU) Board of Regents has approved the “Elevate WKU” development plan with Gilbane Development Co., a global real estate development firm, to launch the first phase of a multi-year student housing initiative on the WKU campus in Bowling Green. The Kentucky Capital Projects and Bond Oversight Committee also approved the partnership this week. The $350 million initiative is the largest residential investment in WKU’s history, according to Gilbane. Phase I of the development will replace Hugh Poland and Douglas Keen Halls with a new roughly 1,000-bed residential complex featuring suite-style options, community kitchens, collaborative lounges, expanded community spaces, tech-enabled learning environments and enhanced safety and accessibility features. The facility is expected to open in fall 2028. Gilbane is developing the Elevate WKU master plan in a public-private partnership with the university under a 50-year ground lease model. Under the structure, WKU will enter into a ground lease with the Collegiate Housing Foundation (CHF) — a national 501(c)(3) organization — which will serve as owner and borrower. Gilbane and WKU have selected Inwood Management to oversee the day-to-day operations and physical maintenance of the Elevate WKU portfolio alongside the university’s Residence Life team. Future phases will address renovations of existing …

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Landmark_Apartments
AcquisitionsAlabamaLoansMultifamilySoutheast

Greystone Provides $28.2M Agency Acquisition Loan for Apartment Community in Tuscaloosa

by Abby Cox

TUSCALOOSA, ALA. — Greystone has provided a $28.2 million Freddie Mac loan to finance the purchase of Landmark Apartments, a 264-unit multifamily community located in Tuscaloosa. Elliott Mulkin of Greystone originated the five-year loan, which features a 30-year amortization schedule and interest-only payments. The borrower and seller were not disclosed. Andrew Brown and Craig Hey of Cushman & Wakefield represented the buyer in the sale. Built in 2007, Landmark Apartments spans 23 acres and comprises a mix of one-, two- and three-bedroom floorplans. Amenities at the garden-style community include a resort-style swimming pool, fitness center with yoga studio, resident clubhouse, business center and outdoor gathering spaces.

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Project-J
DevelopmentLoansNorth CarolinaSoutheast

JLL Arranges $16M Construction Loan for Charlotte Multifamily Project

by Abby Cox

CHARLOTTE, N.C. —  JLL Capital Markets has arranged a $16 million construction loan for Project J, an 84-unit apartment building in Charlotte’s South End neighborhood. Taylor Allison, Alexis Kaiser, Nick Thornton and Abby Reed of JLL secured the loan through Genesis Capital on behalf of the borrower, Panorama Holdings. Situated at 1722 S. Tryon St., Project J will span six floors and feature 30,457 square feet of rentable space, along with a mix of amenities such as a first-floor lounge, outdoor patio with a kitchen and grill, sixth-floor balcony patio, indoor bike storage on each floor and food locker services. The apartments at Project J are described as “micro units,” as they average 363 square feet in size.

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1200 Poydras St.
AcquisitionsLouisianaRetailSoutheast

SRSA Negotiates $7.2M Sale of Ground-Floor Retail Condominium in New Orleans

by Abby Cox

NEW ORLEANS — SRSA Real Estate has negotiated the $7.2 million sale of a ground-floor retail condominium at 1200 Poydras St. in New Orleans near the Caesars Superdome, home of the NFL’s New Orleans Saints. Chick-fil-A and Hurts Donut anchor the 17,270-square-foot space, with Juicy Seafood expected to open immediately. Steve Reisig and Christopher Robertson Jr. of SRSA Real Estate represented the seller, an entity doing business as Poydras Properties II LLC, in the transaction. The buyer requested anonymity.

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DevelopmentHealthcareSouth CarolinaSoutheast

Vertical Construction Begins on $1.2B Hospital Development in North Charleston

by John Nelson

NORTH CHARLESTON, S.C. — The Barton Malow | Edifice joint venture team has begun structural steel work at Roper St. Francis Healthcare’s $1.2 billion Roper Hospital development in North Charleston. The start of steel work signals the 27-acre project’s transition from below-grade construction to its vertical rise. Designed by E4H Environments for Health Architecture and Skidmore, Owings & Merrill, the hospital campus will span 805,000 square feet and will offer 328 inpatient beds, a 47-bay emergency department, 44 critical care beds, 18 operating rooms, a comprehensive imaging department and a 12-bay hemodialysis unit. Completion is targeted for 2029.

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Affordable HousingDevelopmentFloridaSeniors HousingSoutheast

McDowell Housing, Miami Jewish Health Open $139M Affordable Senior Living Community

by John Nelson

PEMBROKE PINES, FLA. — McDowell Housing Partners and Miami Jewish Health have completed the development of Douglas Gardens Senior Health and Living, a new affordable seniors housing community located in Pembroke Pines, roughly 25 miles northwest of Miami. Now open, the community totals 410 units reserved for residents age 55 and older earning 30, 60 and 100 percent of the area median income. Amenities at the community include a pond with walking paths, theater room, business center and multiple indoor and outdoor gathering spaces. Development costs for the project totaled $139 million. This marks the third project completed in partnership by McDowell Housing and Miami Jewish Health. ANF Group served as the construction manager. The project team also included engineer and landscape designer Keith & Associates, REPRTWAR Architecture and Design and interior designer Jewel Toned Interiors. 

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