Thursday, September 18, 2025
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Southeast

Affordable HousingGeorgiaLoansMultifamilySoutheast

CBRE Provides $43.5M Agency Refinancing for Vibe at Echo Street West Apartments in Atlanta

by John Nelson

ATLANTA — CBRE has provided a $43.5 million loan for the refinancing of Vibe at Echo Street West, a 292-unit apartment community located at 750 Echo St. NW in Atlanta’s West Midtown district. Completed in 2023, the property is part of the larger Echo Street West mixed-use development and fronts the Atlanta BeltLine’s Westside BeltLine Connector. Blake Cohen of CBRE’s Atlanta Multifamily Debt & Structured Finance team originated the Fannie Mae loan on behalf of the borrowers, Lincoln Property Co. and Bridge Investment Group. The financing will pay off existing debt and will support the lease-up and continued stabilization of Vibe at Echo Street West. The eight-story, wrap-style buildings offers a mix of studio, one- and two-bedroom units, with 20 percent designated as affordable housing. Amenities include a resort-style pool with cabanas, modern fitness center, business center with micro-offices, pet spa and an outdoor kitchen.

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HospitalityLoansSoutheastTennessee

Ashford Hospitality Trust Obtains $218.1M Loan to Refinance Renaissance Hotel in Nashville

by John Nelson

NASHVILLE, TENN. — Ashford Hospitality Trust Inc. has obtained a $218.1 million loan to refinance Renaissance Hotel, a 673-room hotel located at 611 Commerce St. in Nashville. Built in 1987, the hotel features meeting and event space, a club lounge, Little Fib Bar, a 24-hour market and a third-floor bar and restaurant in a glass atrium called Bridge Bar, according to the hotel website. The two-year, non-recourse loan refinanced the existing $267.2 million mortgage. The undisclosed lender underwrote the loan with three one-year extension options and a floating interest rate of SOFR + 2.26 percent, which is 172 basis points lower than the interest rate on the previous loan. In conjunction with the debt refinancing, Ashford Hospitality increased the preferred equity investment on the hotel by $53 million.

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AcquisitionsFloridaHospitalitySoutheast

Rockpoint, Newbond Holdings Purchase 309-Room Westin Tampa Hotel

by John Nelson

TAMPA, FLA. — Rockpoint and Newbond Holdings have acquired Westin Tampa Waterside, a waterfront hotel in downtown Tampa. The seller and sales price were not disclosed. The 309-room property is situated on a 1.5-acre site and is the only hotel on the city’s Harbour Island. Westin Tampa is within walking distance of the Tampa Convention Center, Water Street District, Sparkman Wharf and the University of Tampa. Amenities include a fitness studio, heated outdoor pool, multiple dining and bar options and meeting and social event space. Rockpoint and Newbond Holdings plan to renovate Westin Tampa’s guest rooms, lobby and meeting space.

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AcquisitionsFloridaRetailSoutheast

CORE Acquires 260,000 SF Cortez Plaza Shopping Center in Bradenton, Florida

by John Nelson

BRADENTON, FLA. — An affiliate of Miami-based CORE Investment Management has acquired Cortez Plaza, a 260,000-square-foot shopping center in Bradenton. The seller and sales price were not disclosed, but the Business Observer reported that an affiliate of Richmond-based Hackney Real Estate Partners sold the property for $39.4 million. Cortez Plaza’s tenant roster includes LA Fitness, Sprouts Farmers Market and Burlington, along with newly developed outparcels occupied by Chick-fil-A and Starbucks Coffee.

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AcquisitionsNorth CarolinaSoutheastStudent HousingWalker & Dunlop

Walker & Dunlop Arranges Sale of 576-Bed Student Housing Community Near Appalachian State University

by John Nelson

BOONE, N.C. — Walker & Dunlop has arranged the sale of Mountaineer Village, a 576-bed student housing community located near the Appalachian State University campus in Boone. Chris Epp, Matthew Chase, Craig Miller, Holden Penn, Ben Sarna, Sarah Foronda and Naomi Bludworth of Walker & Dunlop represented the seller, a joint venture between Coastal Ridge Real Estate and Heitman, in the disposition. The buyer and terms of the transaction were not released. Mountaineer Village offers three-bedroom units with bed-to-bath parity. Shared amenities include a study lounge, fitness center, resort-style pool, business center, basketball court, barbecue area, game room, sand volleyball court, pickleball courts and a fire pit.

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Build-to-RentDevelopmentMultifamilySingle-Family RentalSouth CarolinaSoutheast

Middle Street, Singerman to Develop 71-Unit Build-to-Rent Community in Charleston

by John Nelson

CHARLESTON, S.C. — Locally based Middle Street Partners and Chicago-based Singerman Real Estate plan to develop Atlantic St. Thomas, a new 71-unit build-to-rent (BTR) residential community in Charleston. The townhome property will be located at 2815 Clements Ferry Road on Charleston’s Daniel Island. Atlantic St. Thomas will have an amenity package that includes a resort-style pool, clubhouse, fitness center, working space and a lounge. The property will include two- and three-bedroom, three-story townhomes ranging in size from 1,565 to 2,500 square feet. Units will include single and two-car garages, rooftop terraces and dens in select three-bedroom townhomes. The co-developers will welcome residents at Atlantic St. Thomas, which represents Middle Street’s first BTR community, in spring 2027. The project team includes general contractor Middle Street Construction, civil engineer Sitecast, land planner Cissell Design Studio, landscape architect Studioforme and architect Terminus Design Group.

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MacDonald Manor
AcquisitionsAffordable HousingDevelopmentSoutheastVirginia

Fairstead Acquires 152-Unit Affordable Housing Community in Chesapeake, Virginia, Plans $26M Rehabilitation

by Abby Cox

CHESAPEAKE, VA. — Fairstead has acquired MacDonald Manor, a 152-unit affordable housing community in Chesapeake, with plans for a $26 million rehabilitation of the property. In partnership with Chesapeake Redevelopment and Housing Authority (CRHA), Virginia Housing and Hudson Housing Capital, Fairstead will finance the acquisition and rehabilitation of MacDonald Manor through a federal program that combines elements of HUD’s Rental Assistance Demonstration (RAD) and Section 18 programs to ensure reinvestment in the community, while preserving affordability for residents. Originally built in 1972, MacDonald Manor features three one-bedroom units, 114 two-bedroom units and 35 three-bedroom units that are reserved for residents earning 60 percent or less of the area median income (AMI). Renovations are set to commence this fall, with completion scheduled for fall 2027. Interior renovations will include modern lighting and plumbing fixtures, stainless steel appliances and new flooring and paint. Exterior improvements will consist of fresh landscaping, the repair of building facades and upgraded roofs and windows. Enhancements will also be made to the leasing office, maintenance and community buildings, mailboxes and the basketball court, as well as with the addition of a new playground. Fairstead recently announced the $10 million revitalization of another public housing community in Chesapeake: the …

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Eastfield Village
DevelopmentMultifamilyNorth CarolinaSoutheast

NRP Begins Construction on 348-Unit Eastfield Village Apartment Community in Selma, North Carolina

by Abby Cox

SELMA, N.C. — The NRP Group has kicked off construction on Eastfield Village, a 348-unit, garden-style apartment community located in Selma, roughly 26 miles southwest of Raleigh. The development will anchor the 435-acre master-planned community of Eastfield, which comprises a 3 million-square-foot business park, medical and retail space, three hotels, a variety of senior and workforce housing and entertainment amenities. Eastfield Village will feature one-, two- and three-bedroom floorplans across 12 three-story buildings. Amenities at the complex will include a resort-style swimming pool with a sundeck, landscaped courtyard, pickleball court, shuffleboard area, fitness center, coworking/business lounge, multiple indoor and outdoor gathering spaces and a dedicated dog park and pet wash station. Additionally, walking trails and green spaces at the complex will connect residents to the broader Eastfield development. First move-ins are expected in late 2026, with full occupancy slated for the fourth quarter of 2027.

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DevelopmentIndustrialNorth CarolinaSoutheast

Beacon Partners Breaks Ground on 150,515 SF Spec Industrial Building in Southwest Charlotte

by Abby Cox

CHARLOTTE, N.C. — Beacon Partners has broken ground on a 150,515-square-foot speculative industrial building located at 13021 General Drive in southwest Charlotte. The project team includes general contractor Choate Construction and Merriman Schmitt Architects. Kleinfelder is providing engineering services, while Fifth Third Bank is providing financing. Additionally, Tim Robertson and Alex Habecker of Beacon Partners are handling leasing internally. The facility is slated to be delivered in shell condition in May 2026. Situated on 12 acres near Charlotte Douglas International Airport, the industrial facility will feature 32-foot clear heights, build-to-suit office space, fenced outside storage, concrete truck courts, ESFR sprinkler systems, side-load accessibility and 30 trailer parking spaces.

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One Biscayne Tower
FloridaLeasing ActivityOfficeSoutheast

CP Group Signs Leases With Five Tenants at One Biscayne Tower in Downtown Miami

by Abby Cox

MIAMI — CP Group has signed leases with five tenants totaling nearly 70,000 square feet at One Biscayne Tower, a 692,000-square-foot office tower situated in downtown Miami. FTI Consulting; Nelson Mullins Riley & Scarborough LLP; and Young, Bill, Boles, Palmer, Duke & Thompson renewed their current leases. Meanwhile, Alvarez & Marsal Tax LLC signed a new 23,092-square-foot lease and Filler Rodriguez LLP signed a new 2,437-square-foot lease. Juan Ruiz and Alex Marquez of Blanca Commercial Real Estate represented CP Group in all five lease deals. The tenant representatives included: Kevin Landers and David Dusek of Cushman & Wakefield (for Alvarez & Marsal Tax LLC); Keith Edelman of CBRE (Filler Rodriguez LLP); Chris Harak of Blanca (Nelson Mullins Riley & Scarborough LLP); Elizabeth Balch of Colliers (FTI Consulting); and Andrew Easton of Easton Group (Young, Bill, Boles, Palmer, Duke & Thompson). CP Group recently completed a multimillion-dollar capital renovation at One Biscayne Tower that included a new conference facility and fitness club and upgrades to the building café and convenience store, as well as a nearly 2,600-square-foot renovated lower-lobby eatery and lounge that is leased to the wellness-focused dining concept Heal.

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