Tuesday, September 16, 2025
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Southeast

ArkansasDevelopmentSoutheastStudent Housing

Subtext, Kayne Anderson to Break Ground on 845-Bed Student Housing Development Near University of Arkansas

by John Nelson

FAYETTEVILLE, ARK. — A joint venture between Subtext and Kayne Anderson is set to break ground on VERVE Fayetteville, an 845-bed student housing development located at 707 W. Treadwell St. near the University of Arkansas campus in Fayetteville. The community will span 532,300 square feet and offer 272 units in one- through four-bedroom configurations. The property will feature 33,000 square feet of indoor and outdoor amenity spaces, including open and private study areas; a coffee café; sports simulator; resort-style pool and hot tub; fire pits; and a fitness and wellness center with cardio equipment, weights, yoga rooms, private wellness rooms and a sauna. The project is scheduled for completion in August 2027. The development team includes Kennedy Wilson, Brinkmann Constructors, Modus Studio and Vida Design. Additional contributors include AJC Design Group, Viewtech, McClelland Consulting Engineers and ENGR3. John Rowland and Steve Lane of Colliers | Arkansas served as the exclusive brokers on the sale of the VERVE Fayetteville development site.

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GeorgiaIndustrialLeasing ActivitySoutheast

JLL Negotiates 150,000 SF Cold Storage Lease in West Atlanta

by John Nelson

ATLANTA — JLL has negotiated a 150,000-square-foot lease with locally based Porter Logistics at Logistics Pointe, an industrial facility located at 605 Selig Drive on Atlanta’s west side. Porter Logistics already occupies 266,813 square feet of dry storage at the facility, bringing the third-party logistics firm’s footprint in the building to 412,513 square feet. Austin Kriz of JLL represented the tenant in the lease negotiations. The landlord was Covington Group Inc. Porter Logistics is backfilling recently vacated space at the 650,259-square-foot industrial facility, which features 20 exterior dock doors, four drive-in bays and clear heights ranging from 24 to 27 feet.

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AcquisitionsNorth CarolinaRetailSoutheast

FrostPoint Capital Acquires 33,455 SF Retail Center in High Point, North Carolina

by John Nelson

HIGH POINT, N.C. — FrostPoint Capital, a privately held real estate investment and management firm based in West Palm Beach, Fla., has purchased a 33,455-square-foot retail center in High Point, a city in North Carolina’s Triad region. Berkeley Capital Advisors brokered the transaction. The seller and sales price were not disclosed. The unanchored shopping center is located at 1800 N. Main St., about a mile west of High Point University. The property’s tenant roster includes Company’s Coming, 98 Asian Bistro, Tea Time Boba Tea Lounge, Hair Kutts Salon, Still Waters Spa, TL Fitness and Q’s Corner. FrostPoint Capital is planning an extensive redevelopment that will pay tribute to the site’s former occupant, Lyles Chevrolet. This transaction marks FrostPoint Capital’s 14th acquisition in the Southeast and first in North Carolina.

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Alcove-Orlando-FL
ArizonaCaliforniaFloridaLoansMultifamilyWestern

JLL Secures $255.3M Refinancing for TruAmerica, Oaktree Capital Management Multifamily Portfolio

by Amy Works

LOS ANGELES — TruAmerica Multifamily and Oaktree Capital Management, both based in Los Angeles, have received a loan for approximately $255.3 million to refinance four multifamily properties. JLL Capital Market’s debt advisory team represented the borrower and was led by President Kevin Mackenzie and Managing Directors Annie Rice and Brandon Smith. The JLL team arranged a five-year, floating-rate loan through a national bank. The portfolio includes three Florida properties: Arbors at Carrollwood in Tampa and Audubon Park and Alcove Orlando in Orlando. In Arizona, the portfolio features Luxe Scottsdale. The properties were built between 2001 and 2017.

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AcquisitionsMultifamilySoutheastVirginia

TruAmerica Multifamily Acquires Chase Heritage Apartments in Sterling, Virginia for $72M

by John Nelson

STERLING, VA. — TruAmerica Multifamily has purchased Chase Heritage Apartments, a 236-unit community located at 1212 Chase Heritage Circle in Sterling, a suburb of Washington, D.C. McDowell Properties sold the garden-style property for $72 million. Robert Dean and Jonathan Greenberg of Institutional Property Advisors’ (IPA) Mid-Atlantic office represented the seller in the transaction. Built in 1986, Chase Heritage has had multiple renovations completed since 2021, mostly on the exterior and amenity areas including the pool area, clubhouse and fitness center. TruAmerica Multifamily plans to renovate the property’s interiors and enhance amenity offerings during its ownership.

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LoansMultifamilySouth CarolinaSoutheast

Mesa West Capital Provides $50.4M Refinancing for Ames Apartments in Metro Charleston

by John Nelson

SUMMERVILLE, S.C. — Mesa West Capital has provided a $50.4 million loan for the refinancing of The Ames, a new Class A apartment community located in Summerville, a suburb of Charleston. Walker Layne and Austin Sneed of Walker & Dunlop arranged the financing on behalf of the borrower, Woodfield Development, which delivered the 304-unit property in 2024. Pamir Niaz led Mesa West Capital’s New York-based origination team in the deal. The Ames is located at 3800 Zephyr Road within the Nexton master-planned community and features a mix of studio, one-, two- and three-bedroom layouts. Amenities include a resort-style pool with poolside cabanas and grilling stations, an outdoor amphitheater, resident lounge, fitness center, pickleball courts and a dog park. 

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AcquisitionsDevelopmentMarylandOfficeSoutheast

JLL Arranges Sale of 222,000 SF Office Building in North Bethesda, Buyer Plans Repositioning

by John Nelson

NORTH BETHESDA, MD. — JLL has arranged the sale of a 222,000-square-foot office building located at 2101 E. Jefferson St. in North Bethesda. Jim Meisel, Dave Baker, Andrew Weir and Kevin Byrd of JLL represented the seller and procured the buyer in the transaction. Both parties requested anonymity, and the sales price was also not disclosed. Meisel says that the buyer plans to reposition the vacant office building for another use, plans of which were not released. Built in 1985, the office property is situated on 4 acres near Pike & Rose, a mixed-use development by Federal Realty Investment Trust that features more than 50 shops and restaurants and more than 750 apartments.

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AcquisitionsIndustrialSoutheastWest Virginia

Marcus & Millichap Negotiates $4.8M Sale of Industrial Facility in Martinsburg, West Virginia

by John Nelson

MARTINSBURG, W.VA. — Marcus & Millichap has negotiated the $4.8 million sale of a 67,200-square-foot industrial facility located at 5158 Williamsport Pike in Martinsburg. PepsiCo recently vacated the facility after its lease expired on May 31. Situated on 7.6 acres, the tilt-up concrete building includes a recently replaced roofing system, 28- to 32-foot clear heights, a 34-foot full deck height, seven trailer dock doors, two trash removal doors, nine levelers, single and double-wide drive-in doors and a 15-ton interior gantry crane. Kyle Malin and Brian Chupek of Marcus & Millichap’s Baltimore office represented the Los Angeles-based seller and procured the Maryland-based buyer. Both parties requested anonymity. Grant Fitzgerald served as Marcus & Millichap’s broker of record in West Virginia for the deal.

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AcquisitionsMississippiRetailSoutheast

CrownPoint Partners Brokers $3.6M Sale of Kroger-Leased Store in Laurel, Mississippi

by John Nelson

LAUREL, MISS. — CrownPoint Partners has brokered the $3.6 million sale of a 44,046-square-foot retail property in Laurel leased to Kroger, which has operated at that location for more than 40 years. The acquisition also includes a Kroger Fuel Center. The store is located on a 4.2-acre parcel at 2340 Highway 15 N, about 31 miles north of Hattiesburg, Miss. Julius Swolsky and Shannon Bona of CrownPoint Partners represented the buyer, a subsidiary of Cincinnati-based Essential Growth Properties, in the transaction. Marcus & Millichap represented the seller, San Francisco-based Pacific Bay Investments Inc. Niko Buntich of Trinity Capital Corp. originated acquisition financing for the buyer.

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DevelopmentIndustrialSoutheastVirginia

Lingerfelt, Davis Cos. Acquire 95-Acre Site in Richmond, Plan to Develop 7 Hills Distribution Center

by John Nelson

RICHMOND, VA. — A joint venture between Lingerfelt and The Davis Cos. has acquired 95 acres in Richmond for the development of 7 Hills Distribution Center. Located south of Richmond International Airport, the warehouse and distribution space will span 820,800 square feet across four buildings at full build-out. Phase I of the project is expected to break ground in late summer 2025 and will include an extension of 7 Hills Blvd. throughout the property and speculative construction of the first building, which will total 267,849 square feet. Construction of the second, third and fourth buildings will begin upon completion of Phase I and will offer flexibility for build-to-suit or pre-lease arrangements, depending on leasing activity of the tenant(s). Delivery of the first building at 7 Hills is anticipated for fall 2026. The Lingerfelt-Davis Cos. joint venture previously delivered Carmel Church Business Center, which brought 325,500 square feet of Class A warehouse space to the northern Richmond region.

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