DELRAY BEACH, FLA. — DRA Advisors has provided $107.5 million for the recapitalization of an industrial portfolio in Florida owned by Redfearn Capital, a private equity firm based in Delray Beach. The portfolio includes 10 properties totaling more than 900,000 square feet in Jacksonville, South Florida, Clearwater and Orlando. Redfearn Capital originally established the portfolio in 2020 with investment partner TPG Angelo Gordon. Redfearn Capital and TPG Angelo Gordon will remain partners in two other joint venture funds. Mike Davis and Dominic Montazemi of Cushman & Wakefield represented Redfearn Capital in the transaction.
PENSACOLA, FLA. — Thompson Thrift is nearing completion of The Quinn, a 324-unit apartment community located at 5800 W. Nine Mile Road in Pensacola, a city in Florida’s Panhandle near the Alabama border. Residents began moving in last fall, and the Indianapolis-based developer expects to complete construction by the end of the summer. Situated on 18 acres within a mile of a Publix grocery store, The Quinn features a mix of one-, two- and three-bedroom apartments averaging 1,000 square feet in size. Monthly rental rates range from $1,459 to $2,474, according to Apartments.com. Amenities include a clubhouse, 24-hour fitness center, a resort-style pool, community grilling areas, fire pits, cabanas, turf area for outdoor exercise or yard games, pickleball courts and a dog park with a pet spa.
MIAMI — Marcus & Millichap has brokered the $5.7 million sale of Plaza 77 Shops, a 9,590-square foot retail strip center in Miami’s Dadeland neighborhood. Situated less than one mile from Dadeland Mall, the property is anchored by Trulieve and Domino’s Pizza, which both operate on corporate-guaranteed leases. Additional tenants at the center include Chase Bank, Outback Steakhouse, Anthony’s Coal Fired Pizza, Cancun Grill and Massage Envy, according to LoopNet. Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office represented the seller, an entity doing business as Plaza 77 Shops LLC, and procured the buyer, a local private investor, in the transaction.
ARLINGTON, VA. — HNTB Corp., an infrastructure solutions firm, has relocated and expanded its office footprint in Arlington, a Northern Virginia suburb of Washington, D.C. The company will now occupy 48,046 square feet across two full floors at 1812 North Moore, a 35-story office tower spanning 537,000 square feet. HNTB will move from its current space at the nearby Shirlington Tower in spring 2026. The move represents a 13,000-square-foot expansion for HNTB. Savills represented the tenant in the lease negotiations. Yorke Allen, Herbert Mansinne and Lee Brinkman of JLL represented the undisclosed landlord.
CHARLOTTE, N.C. — Foundry Commercial has negotiated a 14,000-square-foot office lease at Savona Mill, an adaptive reuse of a historic textile mill in Charlotte’s FreeMoreWest neighborhood. John Ball and Claiborne Mulhern of Foundry Commercial represented the owners, Portman Holdings and institutional investors advised by J.P. Morgan Asset Management, in the lease negotiations. Patrick McCoy and Mike Hopper of Newmark represented the tenant, BGW CPA PLLC, a business advisory and accounting firm. Construction is underway on two speculative office suites at Savona Mill totaling 15,000 square feet. Redline designed the suites and Enbloc is overseeing the build-out, which is expected to wrap up this summer. In addition to offices, Savona Mill comprises retail space and amenities including a fitness center, bike storage, conference facilities, an outdoor amphitheater, green spaces, a rooftop deck and a community-centric plaza. Portman Residential also recently delivered Vera at Savona Mill, a 319-unit multifamily development situated adjacent to Savona Mill.
WASHINGTON, D.C. — Akridge and National Real Estate Development have opened Colette and Everly, two luxury apartment buildings within The Stacks in the Buzzard Point neighborhood of Washington, D.C. With these openings, the mixed-use project’s first phase is now complete. Phase I of The Stacks totals nearly 1 million square feet and includes 1,116 multifamily units, more than 90,000 square feet of amenity spaces across three apartment buildings, roughly 22,000 square feet of public parks, approximately 40,000 square feet of retail space and 11,000 square feet of coworking space. First move-ins at Colette and Everly are slated for this month. The two buildings total 732 units. “Everly and Colette provide residents with some of the best water views in the region, as well as convenient access to the best of D.C., including The Wharf, Navy Yard and downtown,” says Adam Gooch, managing principal and chief development officer at Akridge. “Between these two new residential towers and their sister building, The Byron, which opened earlier this year, The Stacks offers three distinctive luxury living options to match residents’ needs.” Architecture firm Gensler designed Everly and was the broader design coordinator of The Stacks. Everly features 413 apartment units within a 14-story …
BENTONVILLE, ARK. — Sam’s Club, a division of Bentonville-based Walmart, has announced plans to remodel all 600 of its existing membership-based stores (called “clubs”) nationwide. The stores will be modeled after the Grapevine, Texas, location, which opened in December 2024. The new locations will span 160,000 square feet and include a seafood/sushi island, full-service floral station, walk-in dairy and fresh coolers and a larger healthcare space featuring a patient waiting area, health services suites, private consultation rooms and dedicated hearing and optical centers. As part of its previously announced long-term strategy, Sam’s Club will also open 30 new locations over the next several years while building a pipeline to begin opening 15 new clubs annually. This marks the first expansion since 2017 after Sam’s Club closed 62 locations in 2018. By the end of fiscal 2025, Sam’s Club plans to open two more new locations in Tempe, Ariz., and Lebanon, Tenn., with further plans to begin construction on seven additional locations, according to CNBC.
Cushman & Wakefield Brokers Sale of 396-Unit Averly at Flowers Apartments in Clayton, North Carolina
CLAYTON, N.C. — Cushman & Wakefield has brokered the sale of The Averly at Flowers, a 396-unit apartment community located at 380 Topwater Drive in Clayton, about 24 miles southeast of Raleigh. Alex McDermott, Hunter Bowling, Charlie Gravina, Rhodes Marley and Paul Marley of Cushman & Wakefield represented the seller, Ardmore Residential Inc., in the transaction. ECI Group purchased the community for an undisclosed price in partnership with Almanac Realty Investors, a division of Neuberger-Berman. Built in 2023 and formerly known as Adrmore at Flowers Apartments, The Averly at Flowers features 11 residential buildings, as well as amenities including resort-style swimming pools, grilling pavilions, business centers, fitness centers, a pet play area and walking/biking trails. The property is part of the 3,000-acre Flowers Plantation master-planned community.
CARY, N.C. — BWE has secured a $22.3 million construction loan for Marigold Apartments, a mixed-income housing development located on Maynard Road in Cary, a suburb of Raleigh. The property will include a mix of one-, two- and three-bedroom apartments. Of the total 126 units, seven will be designated as accessible units, and three will be designated as hearing impaired accessible. Sixty-four units will be designated as affordable and workforce housing for residents earning at or below 30, 50 and 80 percent of the area median income, while the remaining 62 units are set to be available at market rates. Amenities will include elevators, EV charging stations, coworking spaces, an outdoor kitchen with gaming area, business center, clubhouse/community room, courtyard, exercise facility, onsite management, controlled access, video surveillance and onsite parking. Victor Agusta Jr. of BWE’s Raleigh office originated the HUD-insured loan on behalf of the borrower, Charlotte-based Laurel Street Residential. The City of Cary provided a ground lease for the Marigold development, and Wake County provided an additional $1.7 million in financing.
SUMMERVILLE, S.C. — Marcus & Millichap has negotiated the $12.9 million sale of AVID Summerville, a 95-room hotel located at 301 Holiday Drive in Summerville, roughly 23 miles from Charleston. The AVID hotel, which opened in 2021 off I-26, includes a 24-hour gym, 24-hour market with grab-and-go breakfast items and complimentary Wi-Fi. Jack Davis, Sam Gardner, Chase Dewese, Chris Gomes, Skyler Cooper, Joce Messinger and Allan Miller of Marcus & Millichap represented the seller in the transaction. Davis, Messinger and Dewese also procured the buyer. Both parties requested anonymity.