NICEVILLE, FLA. — Berkadia has brokered the sale of American House Bluewater Bay, a 94-unit independent living community located in Niceville, roughly 10 miles northeast of Destin, Fla. Built in 2015, the community was more than 95 percent occupied at the time of sale. Michigan-based real estate development and investment company REDICO sold the property. American House, the senior living operator affiliate of REDICO, will continue to operate the community on behalf of the new ownership.
ELMSFORD AND NEW YORK CITY, N.Y. — DLC, in partnership with a fund managed by DRA Advisors, has acquired a multi-state shopping center portfolio in an off-market transaction for $429 million. Totaling 2.1 million square feet, the portfolio comprises eight shopping centers across five states. The seller was not disclosed. The properties include Central Texas Marketplace in Waco, Texas; Portofino Shopping Center in the Houston suburb of Shenandoah; Watauga Pavilion in the Dallas suburb of Watauga; Shops at Park Place in Plano, Texas; Pavilion at King’s Grant in the northeast Charlotte suburb of Concord, N.C.; International Speedway Square in Daytona Beach, Fla.; Peoria Square in Glendale, Ariz.; and Belle Isle Station in Oklahoma City, Okla. The portfolio was 91.3 percent leased at the time of sale. Long-term tenants across the portfolio include Nordstrom Rack, REI, T.J. Maxx, Ross Dress for Less, Dick’s Sporting Goods, HomeGoods, Marshalls, Total Wine & More and Ulta Beauty. This portfolio marks DLC’s first retail acquisitions in Phoenix and Oklahoma and expands the company’s existing presence in Texas and Florida. In October, DLC and DRA Advisors purchased a $625 million retail portfolio on the West Coast. The two organizations have now completed more than $1.7 billion of …
ANTIOCH, TENN. — A partnership between Continental Realty Assets (part of Continental Realty Group) and CP Capital has purchased Discovery at Mountain View Apartments, a 336-unit multifamily community located in the Nashville suburb of Antioch. This is the first Nashville-area acquisition for the partnership and its fourth purchase total. The seller and sales price were not disclosed. Delivered in 2008, Discovery at Mountain View offers studio, one-, two- and three-bedroom apartments. Amenities include a clubhouse/leasing office, swimming pool, fitness center, business center and a dog park. Continental Realty Assets plans to modernize the apartment interiors and renovate the property’s exteriors and common areas during its ownership.
KATHLEEN, GA. — BWE has provided a $38.5 million loan for Encore at Beacon Place, a 252-unit build-to-rent community located at 40 Cohen Walker Drive in Kathleen, about seven miles south of Warner Robins in central Georgia. Paul Harbor and Caleb Carter of BWE’s Birmingham office originated the bridge loan on behalf of the borrower, a multifamily investment firm based in Alabama. Delivered in February 2025, Encore at Beacon Place offers a mix of one-, two- and three-bedroom cottages. Amenities include a resort-style saltwater pool, pickleball court, clubhouse with a 24-hour fitness center with a fitness studio, community gathering room, business center, cyber café with complimentary Wi-Fi and a coffee bar.
STATESBORO, GA. — JLL has negotiated the sale of Market 100, a 532-bed student housing community located at 100 Bermuda Run Road in Statesboro, less than a half-mile from the Georgia Southern University campus. RDG Student Housing, a division of Redeeming Development Group, purchased the 164-unit property from Preiss for an undisclosed price. The transaction marks the buyer’s first student housing acquisition. Teddy Leatherman, Scott Clifton and Kevin Kazlow of JLL’s student housing capital markets team represented the seller in the transaction. Jayme Nelson and Dan Kearns of JLL arranged a three-year acquisition loan through Bayview Asset Management on behalf of RDG Student Housing. Market 100 was 97 percent occupied at the time of sale. The community features a mix of two-, three- and four-bedroom floorplans with bed-to-bath parity in most units. Onsite amenities include a resort-style pool, sand volleyball court, clubhouse, fitness center, computer lounge, basketball court and a billiards table.
NASHVILLE, TENN. — Locally based Bluecrest Capital Advisors has acquired Royal Parkway I and II, a 145,000-square-foot small-bay industrial property located adjacent to Nashville International Airport, for $12.2 million. The seller was not disclosed. Truxton Trust provided an undisclosed amount of acquisition financing to Bluecrest Capital Advisors, a newly formed company founded by Nashville real estate experts Scott Porter and John Colucci. Porter was formerly a pitcher for the MLB’s Toronto Blue Jays. Royal Parkway I and II is Bluecrest’s second acquisition since its inception earlier this year. Bluecrest plans to invest $6 million in capital improvements to the value-add asset over the next five years, with renovations including exterior upgrades, new interior build-outs, a new roof and a new road. Built in 1990, Royal Parkway I and II sits on a 9.2-acre site and was 85 percent leased at the time of sale.
DURHAM, N.C. — Drawbridge Realty has signed Aspida Financial Services to an 89,770-square-foot lease at Imperial Tower, a 264,598-square-foot office building located at 4820 Emperor Blvd. in Durham. Greg Sanchez, Ryan Gaylord and Robin Roseberry Anders of NAI Tri Properties represented Drawbridge Realty in the lease negotiations. Matthew Cooke and Gardner Gibson of Davis Moore represented Aspida, which plans to occupy the top three full floors of the 11-story office building. Imperial Tower was previously fully occupied by an undisclosed tenant through May 2026 before the tenant broke off its lease and enforced a remote work policy during the COVID-19 pandemic. Drawbridge Realty is underway on a $10 million overhaul of the property, including a new wellness room, tenant lounge and game room, waterside patio, café, golf simulator, fitness center with locker room and shower facilities, athletic fields and pickleball and sport courts. The company is also renovating Imperial Tower’s existing lobby and conference center.
BATON ROUGE, LA. — A joint venture between C1 Development and GMH Communities has received approval for a student housing development at 6800 Burbank Drive near the Louisiana State University (LSU) campus in Baton Rouge. The development can span up to 1,000 beds and is set to offer cottage- and garden-style units, as well as townhomes, in two-, four- and five-bedroom configurations. Shared amenities will include a resort-style pool, modern fitness center, resident lounge, business center and study rooms. Construction is expected to begin next fall with completion scheduled for fall 2028.
PLANTATION, FLA. — Core Investment Management has acquired Jacaranda Plaza, a 175,084-square-foot shopping center located at the intersection of West Sunrise Boulevard and North University Drive in Plantation. The South Florida property was nearly 98 percent leased at the time of sale to tenants including Publix, Ross Dress for Less, Five Below, Planet Fitness and Dollar Tree. Publix has anchored the center for 25 years, according to JLL. Danny Finkle, Jorge Portela and Evan Lahr of JLL represented the buyer in the transaction. Chris Drew, Brian Gaswirth and Luke Maganas of JLL arranged an undisclosed amount of acquisition financing on behalf of Core.
NORFOLK, VA. — Berkadia has negotiated the sale of Livano Norfolk, a 295-unit apartment community located at 6163 Kempsville Circle in Norfolk. The buyer, Kushner, has rebranded the property as District 757. The seller, LIV Development, delivered the property in 2024. Drew White, Carter Wood and Cole Carns of Berkadia’s Richmond office represented the seller in the transaction. Laura Cathlina and Anna Burns of Berkadia’s Chicago office arranged a Fannie Mae loan for the buyer. The sales price and loan amount were not disclosed. District 757 was 96 percent occupied at the time of sale. The property offers a mix of studios, one-, two- and three-bedroom residences ranging in size from 614 to 1,645 square feet. Amenities include a 12,000-square-foot clubhouse with an entertainment kitchen, lounge areas and gaming spaces, as well as a year-round resort-style pool with sundeck, sky lounge, coworking suites with private offices, business center, EV charging stations and a 24-hour fitness center.
