Southeast

Colliers Inks Two New Leases at 101 W Ponce Office Building in Decatur, Georgia

by John Nelson April 25, 2023

DECATUR, GA. — Colliers has signed two new tenants to join 101 W Ponce, a 109,000-square-foot office building in downtown Decatur. The RMR Group manages the six-story office building and recently finished renovations. The two new tenants are the National Association of Chronic Disease Directors (NACDD), which will lease 18,411 square feet, and gaming company Aristocrat Technologies, which will lease 6,404 square feet. Heather Lamb and Jessica Doyle of Colliers represented the landlord in both lease deals. Mitch Kahlert and Jimmy Sanders of ICON Commercial represented NACDD, and David Todd and Detra Reid of CBRE represented Aristocrat Technologies.

April 25, 2023

Development District of Columbia Mixed-Use Multifamily Southeast Top Stories

Lowe, Mitsui Fudosan America Complete 492-Unit Apartment Project at Mixed-Use Redevelopment in D.C.

by John Nelson April 25, 2023

WASHINGTON, D.C. — Lowe and joint venture partner Mitsui Fudosan America Inc. have completed Gallery 64, a 492-unit apartment building in southwest Washington, D.C. The 12-story project is the final piece of the 500,000-square-foot mixed-use redevelopment of the former Randall Junior High School, which includes the Rubell Museum DC that opened in October 2022. “The focus and inspiration for the repositioned historic Randall School is arts and culture, which is expressed in every component of the campus, including the Gallery 64 apartments,” says Mark Rivers, executive vice president of Lowe. “With specially commissioned works of contemporary art showcased throughout the building, Gallery 64 residents will be immersed in a one-of-a-kind, arts- and culture-focused living environment.” Located at 64 H Street SW, Gallery 64 features studios to three-bedroom apartments, as well as 19 two-story townhomes. The apartments feature contemporary finishes, floor-to-ceiling windows and smart thermostats, and many have private patios or balconies. Monthly rental rates range from $1,927 to $5,306, according to the property website. Gallery 64’s community amenities include a music and podcast recording studio and a programmed maker space. Rooftop amenities include a resort-style pool, fire pits, grilling stations, dining niches and a dog walk. Other amenities include game …

April 25, 2023

Content Partner Features Midwest Multifamily Northeast Pavlov Media Southeast Student Housing Texas Western

Pavlov Media Ramps Up Multifamily, Student Housing Fiber Expansion with Equity Partner

by Sarah Daniels April 25, 2023

Pavlov Media is accelerating the expansion of its fiber network and fiber-to-the-home initiatives with a key investment from the world’s largest infrastructure investor, Macquarie Asset Management. The funding will help Pavlov Media augment its coverage of student and multifamily housing, developing and broadening resident access to high-speed Internet across a variety of property types. “We are ramping up our growth plans with a combination of building municipal fiber networks in college towns and extending service to underserved areas adjacent to our core markets,” says Glenn Meyer, board member and president of Pavlov Media. “It’s basically more of what we have already been doing but on a larger scale.” Pavlov Media is already the nation’s largest private provider of fiber-based Internet and video services to off-campus student housing, connecting properties in more than 150 U.S. markets and Canada to its national backbone via its own last-mile, municipal fiber networks and third-party circuits. The Champaign, Illinois-based company serves approximately 1,000 multifamily and student buildings encompassing more than 285,000 beds, and in recent years has begun extending fiber to customers in areas adjacent to its core student-housing markets. Now the broadband service provider is poised to quicken the pace of its growth with …

April 25, 2023

Development Florida Mixed-Use Southeast

LD&D to Develop $200M Mixed-Use Project in Tampa

by John Nelson April 24, 2023

TAMPA, FLA. — LD&D has acquired a two-acre parcel located at 1101 E. Harrison St. in Tampa, where the Miami-based firm will develop a $200 million mixed-use project. LD&D purchased the vacant land, which is situated within the master-planned ENCORE! Redevelopment district, from the Tampa Housing Authority for $10 million. Luis Flores of Saul Ewing arranged the sale on behalf of LD&D, with Maxim Capital group providing a $7.1 million acquisition loan. Designed by Baker Barrios Architects, plans for the development include a 28-story multifamily building with 369 units, a 178-room hotel, a 586-space parking podium and 32,500 square feet of ground-floor retail space. The groundbreaking is scheduled for the fourth quarter of this year.

April 24, 2023

Affordable Housing Development Florida Multifamily Seniors Housing Southeast

Miami Jewish Health, McDowell Housing Break Ground on $137M Affordable Seniors Housing Project in South Florida

by John Nelson April 24, 2023

PEMBROKE PINES, FLA. — Miami Jewish Health (MJH) and McDowell Housing Partners have broken ground on Douglas Gardens Residences, a 410-unit affordable seniors housing community in Pembroke Pines, approximately 20 miles north of Miami. Development costs for the project, which will combine healthcare and housing, are estimated at $137 million. Of the total units, 390 will be reserved for age- and income-qualified residents, while the remaining 20 will be market rate. The project team includes general contractor ANF Group; engineer and landscape designer Keith & Associates; REPRTWAR Architecture and Design; interior designer Jewel Toned Interiors; and law firm Nelson Mullins. Douglas Gardens Residences is scheduled for completion in late 2024. Financing for the project includes $77 million in tax-exempt bonds issued by Broward County Housing Finance Authority (HFA) via Citi Community Capital Bank, $50 million syndicated through affordable housing investment company CREA, a $14 million subordinate loan from Broward County’s Housing Trust Fund, $12 million in seller take-back financing from MJH and $12 million in developer equity contributions.

April 24, 2023

Development Georgia Multifamily Southeast

Novare, BCDC Begin Construction on 302-Unit Apartment Community in Metro Savannah

by John Nelson April 24, 2023

RICHMOND HILL, GA. — Novare Group and Batson-Cook Development Co. (BCDC) have broken ground on a 302-unit apartment community in Richmond Hill, roughly 20 miles outside of Savannah. Upon completion, the property will form the multifamily component of the 7,000-acre master-planned, mixed-use development Heartwood at Richmond Hill. Designed by Humphreys & Partners Architects, the community will feature amenities including a swimming pool with cabanas, an outdoor deck with kitchen space, a fire pit, fitness center, flexible workspace, dog park, detached parking garages and carports. Classic Plains is the general contractor, and Trustmark National Bank and Atlantic Union Bank are providing financing for the project. Delivery of the first units is scheduled for the third quarter of 2024.

April 24, 2023

Development Georgia Mixed-Use Multifamily Southeast

Portman, National Real Estate Advisors Top Out 370-Unit Residential Tower in Midtown Atlanta

by John Nelson April 24, 2023

ATLANTA — Portman and National Real Estate Advisors have topped out Sora at Spring Quarter, a 370-unit residential tower located at the corner of Spring and 10th streets in Atlanta’s Midtown neighborhood. Upon completion, the property will feature 11,000 square feet of ground-floor retail space, an infrared sauna, fitness centers, golf simulators, outdoor lawn areas, party rooms, coworking spaces, a pet run and spa, sky lounge, swimming pool and a media room. Sora is the first phase of Portman’s larger Spring Quarter mixed-use development, which will be anchored by The Patterson, an existing funeral home that will be preserved, as well as a 525,000-square-foot office tower called 1020 Spring and 40,000 square feet of retail space. The first units of Sora are scheduled for delivery this summer.

April 24, 2023

Development Mixed-Use Restaurant Southeast Tennessee

Monday Night Brewing to Open Taproom at Kern’s Bakery Mixed-Use Development in Knoxville

by John Nelson April 24, 2023

KNOXVILLE, TENN. — Atlanta-based brewery Monday Night Brewing will open a taproom within Kern’s Bakery Food Hall at Kern’s Bakery, a 16-acre mixed-use development currently underway in Knoxville. The taproom, which will mark Monday Night’s sixth location and second in Tennessee, will comprise 3,000 square feet with access to a patio and the 7,000-square-foot event lawn. Monday Night will also manage the primary bar for the food hall, two separate rooftop patio bars and a smaller bar near the interior performance stage. The food hall comprises the second phase of Four Stones Real Estate’s project, the first phase of which consists of a 310-unit apartment community called Flagship Kerns that opened last year.

April 24, 2023

Market Reports Maryland Office Southeast Southeast Market Reports

Slowdown in Leases, Development Help Baltimore Office Market to Rightsize

by John Nelson April 24, 2023

Unprecedented development is underway across the Baltimore metro area with more than $6.6 billion of infrastructure and major development projects in the pipeline, and office-using employment remains strong. More than 574,000 people are employed in a diverse set of employment sectors that require offices, including professional and business services, government, financial services and tech and information. The past year, unemployment fell in each Maryland submarket, with Baltimore dropping 140 basis points, which is similar to the national unemployment rate that decreased 150 basis points. In the second half of last year, several public sector agencies relocated into the Central Business District (CBD) from Midtown and Mount Vernon locations, pushing net absorption positive and vacancy negative. This helped state and local government tenants lead all sectors in leasing activity in the fourth quarter of 2022, accounting for 56 percent of all leases signed. The Maryland Department of Health signed the largest lease of the quarter with its new 463,000-square-foot lease at 300 N. Greene St. Other State of Maryland relocations include Department of Labor, Office of the Comptroller, Department of Budget & Management, Department of Planning and Department of Aging. Combined, these state government tenants leased 761,000 square feet in the …

April 24, 2023

District of Columbia Hospitality Loans Southeast

Barings Provides $101.5M Refinancing for Dual-Brand Hotel in Downtown D.C.

by John Nelson April 21, 2023

WASHINGTON, D.C. — Barings has provided a $101.5 million bridge loan for the refinancing of the existing construction loan on the Courtyard/Residence Inn by Marriott in downtown Washington, D.C. The dual-brand hotel opened in November of 2018 and features 504 rooms. Located across from the Walter E. Washington Convention Center, the 11-story property was developed by Quadrangle Development Corp. and Capstone Development LLC. The hotel’s amenities include a restaurant, fitness center, convenience store, meeting space, kitchen and complimentary breakfast for guests, according to the hotel’s website.

April 21, 2023

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