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HospitalityLoansSoutheastTennessee

Newmark Arranges $51M Refinancing for Virgin Hotels Nashville

by John Nelson

NASHVILLE, TENN. — Newmark has arranged a $51 million loan for the refinancing of Virgin Hotels Nashville, a 14-story hotel located at 1 Music Square W in Nashville’s Music Row district. Jordan Roeschlaub, Nick Scribani, Tyler Dumon, Holden Witkoff and Tate Keir of Newmark arranged the loan through Apollo. The borrower, Virgin Group, opened the 262-room hotel in July 2020. Virgin Hotels Nashville features multiple food-and-beverage eateries, including a rooftop bar, speakeasy and a signature restaurant with indoor and outdoor dining space. Other features include a rooftop pool with private cabanas, a fitness center and more than 15,000 square feet of meeting and event space.

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AcquisitionsFloridaRetailSoutheast

Cushman & Wakefield Negotiates Sale of 134,832 SF Publix-Anchored Shopping Center in Boca Raton, Florida

by John Nelson

BOCA RATON, FLA. — Cushman & Wakefield has negotiated the sale of Polo Club Shops, a 134,832-square-foot shopping center located in Boca Raton. The center is anchored by Publix, which completed a full demolition and reconstruction of its store in 2022, expanding the property by an additional 48,387 square feet. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, Atlanta-based Jamestown Properties, in the transaction. The buyer, Publix Super Markets, purchased the shopping center for an undisclosed price. The Lakeland, Fla.-based grocer is operating with a new 20-year lease. Other tenants at Polo Club Shops include Beignets & Brews, Brendy’s Ice Cream, Ernie’s Açai Bowls, First Watch, Peak Beauty Studio, Manhattan Joe’s Pizzeria, Pet Supermarket and Phenix Salon Suites.

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AcquisitionsGeorgiaRetailSoutheast

Highline Acquires Shopping Center in Conyers, Georgia for $25.4M

by John Nelson

CONYERS, GA. — Highline Real Estate Capital has acquired Salem Gate Market, a 177,527-square-foot shopping center located in Conyers, a southeast suburb of Atlanta in Rockdale County, for $25.4 million. Situated directly off I-20, the center’s tenant roster includes anchors Academy Sports + Outdoors and Floor & Décor. The Miami-based investor purchased Salem Gate Market from the undisclosed seller via its Highline Real Estate Fund 1, which launched in 2023 and has completed more than $350 million in acquisitions. Brad Buchanan and Jim Hamilton of JLL’s Atlanta office represented the seller in the transaction. Highline also recently sold an unanchored retail center in Conyers in a separate transaction totaling $9 million.

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DevelopmentFloridaIndustrialSoutheast

Parkway Breaks Ground on Phase II of $750M Industrial Park in Lakeland, Florida

by John Nelson

LAKELAND, FLA. — Parkway has broken ground on Phase II of Lakeland Central Park, a $750 million industrial park spanning 740 acres in Lakeland. The second phase will comprise LCP 300, a new 261,000-square-foot cross-dock industrial facility at 1735 Winston Park Blvd.; an extension of Winston Park Boulevard with a direction connection to a signalized intersection at Airport Road; and pad-ready sites that can accommodate facilities spanning 162,000 to 1.7 million square feet. Phase I of Lakeland Central Park included LCP 200, a 705,000-square-foot, Class A facility that recently sold to a global furniture manufacturer and retailer. Parkway expects to deliver LCP 300 by fourth-quarter 2026, with the infrastructure, extension of Winston Park Boulevard and pad site deliveries expected to be completed by second-quarter 2027. The project team for Lakeland Central Park includes capital partner Silverpeak, an unnamed institutional investor with $140 billion of real estate assets under management, Berkadia (financial intermediary), Pinnacle Financial Partners (lead debt lender), Jr. Davis Construction (general contractor for infrastructure), Marcobay Construction (general contractor for LCP 300) and Cushman & Wakefield (marketing and leasing).

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LoansMixed-UseMultifamilyOfficeSoutheastTennessee

CBRE Arranges $181.5M Refinancing for Finery Mixed-Use Development in Nashville

by John Nelson

NASHVILLE, TENN. — CBRE has arranged three loans totaling $181.5 million for the refinancing of The Finery, a mixed-use development in Nashville’s Wedgewood-Houston neighborhood that comprises The Residences at The Finery and the adjacent T3 Wedgewood Houston office building. Mike Ryan, Brian Linnihan, Richard Henry, Blake Cohen, J.P. Cordeiro and Taylor Crowder of CBRE arranged the loans on behalf of the borrowers, Hines and Peakline Partners. Oxford Properties Group provided an $118 million loan for The Residences at The Finery, and Tishman Speyer provided a $17.5 million mezzanine loan behind Blue Owl’s $46 million loan for the T3 office building.

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AcquisitionsFloridaMultifamilySoutheast

Crescent Communities Sells 260-Unit NOVEL Nona Apartments in Orlando

by John Nelson

ORLANDO, FLA. — Crescent Communities has sold NOVEL Nona, a 260-unit apartment community in Orlando’s Lake Nona neighborhood, to an undisclosed, private real estate management company. The Charlotte-based developer broke ground on the property in 2021. NOVEL Nona features a fitness center with a dedicated studio for yoga and spin classes, coworking spaces, a saltwater pool with cabanas, bike storage, walking trails, a conservation area, top-floor lounge with TVs and a craft cocktail bar, two courtyards, firepits and grills. Crescent Communities recently announced the appointment of Greg Minder to lead strategy, development and execution across the company’s multifamily presence in Tampa, Orlando and Jacksonville. The developer currently has several properties in the construction stages in those markets.

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DevelopmentGeorgiaMultifamilySoutheast

Thompson Thrift to Develop 214-Unit Wrenly Apartments in Newnan, Georgia

by John Nelson

NEWNAN, GA. — Thompson Thrift plans to develop Wrenly, a 214-unit apartment community in Newnan, a city approximately 40 miles southwest of downtown Atlanta. The Indiana-based developer expects to welcome residents by April 2027, with full completion slated for early 2028. The 29-acre community will comprise one-, two- and three-bedroom apartments within six residential buildings. Amenities will include a 24-hour fitness center, a pool with a waterfall feature, firepit with seating areas, grills, pickleball court, dog park and a business center.

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AcquisitionsOfficeSoutheastTennessee

Boyle Investment Acquires 156,000 SF Woodmont Centre Offices in Nashville

by John Nelson

NASHVILLE, TENN. — Boyle Investment Co. has acquired Woodmont Centre, a two-building office park located at 102 and 104 Woodmont Blvd. in Nashville. The property is situated at near I-440 on the outskirts of the city’s Belle Meade neighborhood. The complex comprises a nine-story office building and a five-story office building connected by a shared lobby, along with a multi-level parking garage accommodating approximately 500 vehicles. The undisclosed seller began capital improvements to Woodmont Centre that Boyle Investment plans to complete. The sales price was not disclosed.

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DevelopmentMixed-UseSoutheastTop StoriesVirginia

Greenberg Gibbons Breaks Ground on $500M Midtown64 Mixed-Use Project in Richmond

by Kristin Harlow

RICHMOND, VA. — Greenberg Gibbons has broken ground on Midtown64, a more than $500 million mixed-use development comprising 46 acres in Henrico County, located just outside downtown Richmond. Shamin Hotels is a joint venture partner for the project, which is being built on the former Genworth Financial headquarters campus. The personal finance firm signed a 175,000-square-foot office lease in late 2022 to move its headquarters to the SunTrust Business Center in the Richmond suburb of Glen Allen, Va. Located at the intersection of West Broad Street and I-64, Midtown64 will span 2 million square feet with up to 130,000 square feet of upscale retail, restaurant and entertainment space. Anchor tenants will include a grocery store and new-to-market fitness concept. The project will also include up to 300,000 square feet of Class A office space, an apartment community with nearly 1,000 units, 194 townhomes built by homebuilder Lennar and a 226-room, dual-branded hotel featuring Tempo by Hilton. Greenberg Gibbons says the development will feature contemporary architecture, landscaped plazas and convenient parking within a walkable environment. “Midtown64 builds on our track record of revitalizing properties into thriving mixed-use destinations, while marking an exciting expansion of our portfolio in Virginia,” says Brian Gibbons, …

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DevelopmentFloridaMixed-UseMultifamilySoutheast

Prestige, Brunetti Deliver 341-Unit Apartment Community at Hialeah Park Race Track & Casino in Metro Miami

by John Nelson

HIALEAH, FLA. —  A partnership between Prestige Cos. and Brunetti Organization has completed Flamingo Village, a 341-unit apartment community located at 2200 E. Fourth Ave. within the 200-acre Hialeah Park Race Track & Casino campus. The community is situated on 13 acres and represents the largest development on the site since the casino opened in 2013. Brunneti is the master developer of Hialeah Park, which is located about 11.5 miles northwest of Miami. Centennial Bank provided a $60.7 million construction loan to the co-developers for Flamingo Village, which features floorplans ranging in size from 890 to 1,375 square feet in garden-style and townhome layouts. Monthly rental rates range from $2,600 to $3,375, according to Apartments.com. Amenities include two clubhouses, swimming pools, wide landscaped walkways, a fitness center with a yoga and meditation studio, business center, pet play area, a park and tanning deck. Flamingo Village is situated within walking distance of the Hialeah Metrorail station.

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