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403-West
LoansMultifamilyNorth CarolinaSoutheast

Northmarq Secures $55M Refinancing for 403 West Apartments in Raleigh for Blackfin

by Abby Cox

RALEIGH, N.C. — Northmarq has secured a $55 million bridge loan to refinance 403 West, a 438-unit, garden-style apartment community located in Raleigh. Northmarq arranged the three-year loan through Truist Bank on behalf of the borrower, Blackfin Real Estate Investors LLC. Built in 2002, 403 West features one- to four-bedroom floorplans ranging in size from 487 to 1,432 square feet, according to Apartments.com. Amenities at the property include a resident lounge, luxury café station, gas grill pavilion, 24-hour fitness center, bike storage, dog park with a shade pavilion, pickleball court, resort-style swimming pool and a playground.

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bjs-wholesale-club
FloridaLoansRetailSoutheast

MMCC Arranges $7M Loan for Retail Property Near Jacksonville Leased to BJ’s Wholesale Club

by Abby Cox

ORANGE PARK, FLA. — Marcus & Millichap Capital Corp. (MMCC) has arranged $7 million in financing for a 109,895-square-foot, single-tenant retail property in Orange Park, a suburb of Jacksonville. BJ’s Wholesale Club occupies the building. Garrett Fierstein of MMCC secured the financing through a local credit union on behalf of the borrower, a private client.

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LouisianaMarket ReportsOfficeSoutheastSoutheast Market Reports

New Orleans CBD Continues to Transition from Office-Centric to 24/7 Destination

by John Nelson

One cannot talk about, analyze, nor understand the New Orleans Central Business District (CBD) office market without a corresponding discussion of the entire CBD, not just the office building submarket. This is especially true when we look at the evolution of the New Orleans CBD since the late 1980s, and, more specifically to this article, since Hurricane Katrina.  The New Orleans CBD office market is still the largest office submarket in this region. The submarket contains approximately 10.3 million rentable square feet. The balance of our submarkets (East Metairie, West Metairie, Kenner, Elmwood, West Bank, New Orleans East and the Northshore) contain a total of 8.6 million rentable square feet.  More importantly, the CBD remains home for most of New Orleans’ “corporate” tenants, virtually all the region’s major law firms and financial institutions. That is the good news.  However, the CBD has been transformed over the past 30+ years — and especially for the past two decades after Hurricane Katrina — from a traditional office-centric CBD to a mixed-use downtown area. The supply of office space in the CBD has shrunk from 70 buildings and 16.5 million rentable square feet in 1991, to 50 buildings and 13.8 million rentable square …

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Skilled-Nursing-Portfolio-Property
HealthcareLoansMarylandSoutheastVirginia

CFG Provides $253.2M Bridge Loan for Skilled Nursing Portfolio in Maryland, Virginia

by Abby Cox

BALTIMORE — Capital Funding Group (CFG) has provided a $253.2 million bridge loan for the refinancing of a skilled nursing portfolio. The portfolio includes six facilities in Maryland and one in Virginia. Together, the properties total 1,050 beds. Craig Casagrande, Scott Robinson and Catherine Mansel of Baltimore-based CFG originated the financing for the undisclosed borrower. 

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Avara
DevelopmentFloridaMultifamilySoutheast

Mast Capital, Rockpoint Deliver 178-Unit Luxury Apartment Complex in Miami Beach, Florida

by Abby Cox

MIAMI BEACH, FLA. — Mast Capital and Rockpoint have delivered Avara, a 178-unit luxury apartment community located in Miami Beach. The eight-story community features one- to three-bedroom floorplans ranging in size from 560 square feet to 1,410 square feet, as well as penthouse suites. Monthly rental rates begin at $3,200. Designed by Arquitectonica, CID Design Group and Within Hults + Partners, Avara comprises a variety of amenities such as a bayfront pool deck on the second floor with shaded cabanas and a fully equipped outdoor kitchen with grilling stations; a 1,500-square-foot fitness center, clubroom and game lounge; and a flexible work center with conference rooms and private offices. Additional amenities include dedicated bike storage, a dog park, pet spa and full-time concierge services.

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Sprouts Farmers Market
DevelopmentRetailSoutheastTennessee

GBT Realty to Develop Sprouts Farmers Market at Port Royal Marketplace in Metro Nashville

by Abby Cox

SPRING HILL, TENN. — GBT Realty has submitted plans to develop a Sprouts Farmers Market grocery store to anchor Port Royal Marketplace, a planned retail center in Spring Hill, approximately 35 miles south of Nashville. Following city approvals, GBT anticipates construction to commence in early 2026, with completion planned for early 2027. Situated on the southwest corner of Duplex and Port Royal roads, Port Royal Marketplace is expected to total 46,000 square feet and will feature a 23,000-square-foot Sprouts and 16,000 square feet of inline shops, as well as a 6,800-square-foot shop building. In addition, three outparcels will front Duplex Road. A range of possible tenants could include medical services, restaurants, ice cream or coffee shops, apparel and fitness retailers.

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industrial-portfolio-south-carolina
IndustrialLoansSouth CarolinaSoutheast

Patterson Real Estate Arranges Recapitalization of 400,000 SF Warehouse Portfolio in Coastal South Carolina

by Abby Cox

CHARLESTON AND BEAUFORT, S.C. — Patterson Real Estate Advisory Group has arranged the recapitalization of a 400,000-square-foot, six-property warehouse portfolio located in coastal South Carolina. The portfolio includes five properties in Charleston and one in Beaufort that were acquired by the borrower, RCB Development, between 2017 and 2023. In March, RCB Development recapitalized the portfolio’s equity with SilverCap Partners and completed the refinancing in November with a new senior loan provided by Ameris Bank. Patterson served as capital advisor to RCB for both transactions. All properties in the portfolio have undergone significant capital improvements, such as addressing deferred maintenance, upgrading landscaping, signage and building exteriors, as well as property-specific renovations. The portfolio was 99 percent leased at the time of the financing.

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GeorgiaLeasing ActivityOfficeSoutheast

Atlantic Cos. Inks Three Leases at 1075 Big Shanty Office Building in Kennesaw, Georgia Totaling 65,000 SF

by Abby Cox

KENNESAW, GA. — The Atlantic Cos. has announced that 1075 Big Shanty, a 72,633-square-foot office building in the northwest Atlanta suburb of Kennesaw, is now fully leased following three long-term lease executions totaling nearly 65,000 square feet. FEI Group, a national network of interior finishing contractors specializing in floors and cabinetry, has signed a new lease for 14,700 square feet. The Emory Clinic has also signed a new 19,840-square-foot lease at 1075 Big Shanty. Additionally, WSP, a global engineering and professional services firm, has renewed its 30,255-square-foot lease at the property. Michael Howell, Hunter Henritze and Maia Perri of Lincoln Property Co. represented the landlord in the lease negotiations. Situated near I-75 and Kennesaw State University, 1075 Big Shanty is a one-story office building that features a modern design, full-height glass, abundant natural light and outdoor seating.

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Affordable HousingConference CoverageFeaturesGeorgiaMultifamilySoutheastSoutheast Feature Archive

Multifamily Sellers Continue to Hold Out for Peak Pricing, Says InterFace Panel

by John Nelson

ATLANTA — For many multifamily professionals, 2025 is a year to forget. Paul Berry, president and chief operating officer of Mesa Capital Partners, said that U.S. multifamily investment sales are on track to close out the year at $125 billion, which represents a 25 percent decline from an average pre-COVID year and a little more than a third of 2021’s total (a torrid $354 billion). Andrew Zelman, senior vice president of Southeast investments at Boston-based GID Multifamily, said that owners are doing “everything they can to hold out for a profit.” Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. “As simplistic as this is, sellers will avoid transacting at less than peak values at any cost,” said Zelman, who added that owners are essentially kicking the can down the road by recapitalizing their assets or stopping and starting the marketing process if their pricing expectations aren’t being met. Zelman’s comments came during the opening panel on Tuesday, Dec. 2, at the 2025 InterFace Multifamily Southeast conference, which was held at the InterContinental Buckhead in Atlanta. Co-hosted …

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industrial-portfolio-cbre
AcquisitionsGeorgiaIndustrialKentuckyNew YorkNorth CarolinaPennsylvaniaTop StoriesVirginia

CBRE Arranges Sale of 3 MSF Industrial Portfolio Across Eight States for ACRE

by Abby Cox

NEW YORK CITY — CBRE has arranged the sale of a 20-property last-mile distribution and light-manufacturing industrial portfolio across eight states. New York City-based Ares Commercial Real Estate Corp. (NYSE: ACRE) acquired the portfolio, which spans more than 3 million square feet. Brian Fiumara led CBRE’s National Partners team in marketing the portfolio and representing the undisclosed seller in the transaction. The CBRE team also procured the buyer. The properties include: The industrial portfolio consists of well-maintained industrial buildings ranging in size from 16,000 to 500,000 square feet, while average occupancy across the properties currently sits at 95 percent. “The acquisition by Ares allows the company to expand its existing portfolio with a critical mass of light industrial and well-located last-mile assets in major population centers with access to key distribution infrastructure,” says Fiumara. ACRE is a real estate investment trust (REIT) managed by Ares Commercial Real Estate Management LLC, a subsidiary of Ares Management Corp., which manages approximately $596 billion of assets.   ACRE’s stock price closed on Thursday, Dec. 4 at $5.15 per share, down from $6.98 a year ago, a nearly 26 percent decline. — Abby Cox

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