Friday, October 30, 2026
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Southeast

AcquisitionsIndustrialNorth CarolinaSoutheast

CBRE Arranges $11M Sale of Office/Industrial Flex Building in Southwest Charlotte

by John Nelson

CHARLOTTE, N.C. — CBRE has arranged the $11 million sale of Scarlet Oak, an office/industrial flex building located at 8700-8702 Red Oak Blvd. in southwest Charlotte. A joint venture between Somerset Properties and ABR Capital Partners acquired the property. Built in 1981 and renovated in 2022, the property comprises 81,118 square feet and was 84 percent leased at the time of sale. Part of Griffin Partners’ The Oaks, a four-building industrial portfolio, the building features 245 parking spaces and 17 dock-high, drive-in doors. Recent upgrades to the property include a new outdoor amenity space, exterior improvements, new paint, a new backflow preventer and a newly resealed and restriped parking lot. Patrick Gildea, Robert Hardaway and Matt Smith of CBRE represented the seller in the transaction. Prior to the sale, Alek Salfia, Joe Franco and Kris Westmoreland of CBRE managed leasing at the property on behalf of the seller.

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DevelopmentFloridaMixed-UseSoutheast

Limestone, Orion Complete $5M Renovation of Pinecrest Town Center in South Florida

by John Nelson

PINECREST, FLA. — Limestone Asset Management and Orion Real Estate Group have completed the $5 million renovation of Pinecrest Town Center, a 225,255-square-foot mixed-use property located at 12651 S, Dixie Highway in the south Miami suburb of Pinecrest. Renovations at the property, which features retail and office space, included upgrades to the façade and storefronts, the installation of impact windows, improved lighting and the addition of a rooftop parking area. General contractor Tim Majors of Suncon Inc. and architect Bruce Arthur of WHA Design led the project. Pinecrest Town Center was 90 percent leased at the time of renovations to tenants including Sage Dental, Coldwell Banker, Anacapri Italian Restaurant and Sea Siam. The property was previously renovated in 1994 and 2004. Limestone purchased the property, which was built in 1985, in 2021 for $32 million.

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DevelopmentFloridaMixed-UseSoutheast

PTM Partners to Develop 500,000 SF Mixed-Use Project in St. Petersburg, Florida

by John Nelson

ST. PETERSBURG, FLA. — PTM Partners has purchased land in the Tampa suburb of St. Petersburg, with plans to develop a 500,000-square-foot mixed-use project at the site. PTM acquired a parcel on Central Avenue for the development, which will comprise a portion of Phase II of the EDGE Collective. Tricera Capital and Eastman Equity sold the land for $14.8 million. Phase I of EDGE includes a nearly completed 163-room Moxy by Marriott Hotel, as well as the redeveloped 1246 Central Avenue building with 16,000 and 8,000 square feet of food-and-beverage and office space, respectively. Plans for Phase II are still being determined, according to PTM Partners.

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AlabamaHealthcareLoansSoutheast

First Citizens Bank Provides $37M Refinancing for Medical Office Building in Birmingham

by John Nelson

BIRMINGHAM, ALA. — First Citizens Bank has provided a $37 million loan for the refinancing of Grandview Physicians Plaza I, a medical office building (MOB) in Birmingham. Rethink Healthcare Real Estate was the borrower. Tenants at the property, which totals 200,000 square feet on the Grandview Medical Center campus, include practices specializing in endoscopy, imaging, orthopedics, women’s health services, internal medicine and physical therapy.

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AcquisitionsFloridaLoansMultifamilySoutheast

Berkadia Arranges $32.2M Acquisition Financing for Palmera Pointe Apartments in Tampa

by John Nelson

TAMPA, FLA. — Berkadia has arranged $32.2 million in financing for the acquisition of 246 units at Palmera Pointe Apartments, a 361-unit rental condominium community located at 7417 Palmera Pointe Circle in Tampa. Axonic Properties was the borrower and previously acquired 36 units at the property. Mitch Sinberg, Brad Williamson, Matthew Robbins and Scott Wadler of Berkadia’s South Florida office secured the loan on behalf of the borrower. The five-year, non-recourse loan features $25 million of initial funding with an additional $7.2 million of funding for Axonic to execute its business plan.

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AcquisitionsFloridaRetailSoutheast

SRS Brokers $7.7M Sale of Single-Tenant Retail Property in Orlando Suburb Leased to Crunch Fitness

by John Nelson

WINTER PARK, FLA. — SRS Real Estate Partners has brokered the $7.7 million sale of a 29,987-square-foot single-tenant retail property located in Winter Park, a suburb of Orlando. Crunch Fitness occupies the property, which is located on 3.7 acres at 14150 W. Colonial Drive, on a 15-year triple-net lease. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based investment and development group, in the transaction. The buyer was a Florida-based private investor.

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Leasing ActivityMarylandMixed-UseOfficeSoutheast

Window Nation Signs 50,698 SF Office Lease at Maple Lawn Mixed-Use Community in Baltimore

by John Nelson

BALTIMORE — Window Nation has signed a 50,698-square-foot lease at 8110 Maple Lawn Blvd., a 104,412-square-foot office building situated within the Maple Lawn mixed-use community in Baltimore. Maple Lawn, which is being developed by Greenebaum Enterprises and St. John Properties, comprises 1,300 residences and 150,000 square feet of retail space, in addition to more than 1 million square feet of office space. Bill Jautze of St. John Properties represented the landlord in the lease negotiations on an internal basis, and Rick Williamson of St. John Properties represented the tenant.

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LoansLumentMarylandSoutheastStudent Housing

Lument Provides $64.6M Refinancing for Student Housing Community Near Johns Hopkins University

by John Nelson

BALTIMORE — Lument has provided a $64.6 million loan for the refinancing of Nine East 33rd, a 568-bed student housing property located near Johns Hopkins University’s Homewood campus in Baltimore. Tim Smits of Lument led the team in placing the loan through Freddie Mac’s capital markets execution program on behalf of the borrower, HH Fund. The five-year, fixed-rate loan features interest-only payments for the full term. Developed in 2016, Nine East 33rd offers one-, two-, three- and four-bedroom fully furnished units.

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DevelopmentFloridaLoansMixed-UseMultifamilyRetailSoutheast

Southern Realty Trust Funds $56.4M Mezzanine Loan for Mixed-Use Development in Sarasota, Florida

by John Nelson

SARASOTA, FLA. — Southern Realty Trust has provided a $56.4 million mezzanine loan for Aster & Links, a mixed-use development underway in downtown Sarasota. Situated at the intersection of Main Street and Links Avenue, the development will include two 10-story residential buildings housing 424 luxury apartments, 778 parking spaces and 51,000 square feet of ground-level retail space, including a Sprouts Farmers Market grocery store. Lantern Real Estate arranged the financing on behalf of the borrower, Belpointe PREP LLC, an affiliate of Belpointe OZ. Last year, the developer obtained a $130 million construction loan from Bank OZK for the project. Belpointe OZ plans to deliver Aster & Links in the second half of the year.

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AcquisitionsAlabamaMultifamilySoutheast

Marcus & Millichap Brokers $21.7M Sale of St. Andrews Villas in Madison, Alabama

by John Nelson

MADISON, ALA. — Marcus & Millichap has brokered the $21.7 million sale of St. Andrews Villas, a newly built, 96-unit townhome community in Madison, about four miles west of the Mazda Toyota Manufacturing plant in Huntsville. Josh Jacobs and Royce Emerson of Marcus & Millichap represented the developer, Keelon Development Inc., in the sale. The buyer was not disclosed. Built in 2023, St. Andrews Villas features one-level luxury rental townhomes with 9-foot ceilings, walk-in showers and garages featuring electric vehicle charging. Amenities include a swimming pool, coworking space and a fitness center.

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