Friday, April 18, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Southeast

DevelopmentFloridaLoansMultifamilySoutheast

Estate Cos. Receives $78M Construction Loan for Luxury Apartment Development in Davie, Florida

by John Nelson

DAVIE, FLA. — The Estate Cos. (EIG), a South Miami-based multifamily developer, has received a $78 million construction loan for its luxury apartment development in the north Miami suburb of Davie. Banesco Bank provided the loan for Phase I of Soleste Reserve, an eight-story property situated on 2.5 acres that features a selection of floor plans ranging from 500 to 1,100 square feet. The new complex will include 94 studios, 165 one-bedroom units, 68 two-bedroom units, seven three-bedroom units and 13 additional live-work apartments on the ground level. The Class A rental community will also include a resort-style pool and pool deck, an open-air rooftop terrace, gym, business center and resident’s lounge. The 347-unit project will take approximately two years to complete. EIG has plans to further develop an eight-story sister project adjacent to Soleste Reserve at 5081 S.W. 48th St.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsOfficeSoutheastVirginia

Finmarc Management Acquires Dulles Corner Office Portfolio in Northern Virginia for $51M

by John Nelson

HERNDON, VA. — Finmarc Management Inc. has acquired a four-building office portfolio in the Northern Virginia city of Herndon for $51 million. Eastdil Secured represented the undisclosed seller in the transaction, and Cliff Mendelson of Metropolis Capital Advisors assisted in the debt placement for Finmarc. The properties, known collectively as Dulles Corner, are situated in the region’s Dulles Technology Corridor and span nearly 620,000 square feet. The portfolio overlooks the Dulles International Airport and houses tenants in the aerospace, defense and tech industries, including Peraton, SAP National Security Services, DLT Solutions, Mission Essential, Valiant Integrated Services, Synopsys and BlackSky DC. In addition to offices, Dulles Corner features conference facilities, a private fitness center, onsite restaurants, daycare center and a central park with walking paths, water features, greenspaces and outdoor dining areas. Finmarc has selected Joshua Masi, Tom Walsh, Will Thomas and Nate Marshall of Cushman & Wakefield to handle leasing at Dulles Corner.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsDistrict of ColumbiaOfficeSoutheast

Real Capital Solutions Purchases DC Office Building for $29.3M

by John Nelson

WASHINGTON, D.C. — Real Capital Solutions (RCS) has purchased an 11-story office building located at 1501 M St. NW in Washington, D.C.’s East End submarket for $29.3 million. Gerry Trainor of Transwestern brokered the transaction. The seller was not disclosed. Designed by Hartman-Cox Architects, the office building features 178,510 rentable square feet. The previous owner invested $13 million to upgrade the building’s lobby, restrooms, fitness center and a three-story “town hall” amenity space. RCS plans to add further improvements, including a spec suite program and the expansion of the town hall concept to the seventh and eighth floors.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsLouisianaMultifamilySoutheast

Audubon Sells Local on Severn Apartments in Metairie, Louisiana for $17.6M

by John Nelson

METAIRIE, LA. — Chamblee, Ga.-based Audubon has sold The Local on Severn, a 161-unit apartment community in Metairie, for $17.6 million. The buyer was a Texas-based property management firm that has multiple Louisiana apartment communities in its portfolio. Located southeast of Baton Rouge via I-10, The Local on Severn offers studio, one-, two- and three-bedroom apartments, as well as two swimming pools and sundecks.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Three New Tenants Sign Leases at Nora District in West Palm Beach

by John Nelson

WEST PALM BEACH, FLA. — Three new tenants have signed leases at The Nora District, a mixed-use project currently underway in West Palm Beach. IGK Salon, Indaco and ZenHippo will occupy 2,347; 2,945; and 1,369 square feet at the property, respectively. The first phase of Nora District — which is being developed by a partnership between NDT Development, Place Projects and Wheelock Street Capital — is scheduled for completion early this year. Upon completion, Phase I will feature 150,000 square feet of retail, office and hospitality space. Committed retail tenants at The Nora District include Del Mar Mediterranean Restaurant, Sana Skin Studio, Mint, The Spot Barbershop, Loco Taqueria & Oyster Bar, H&H Bagels, Van Leeuwen Ice Cream, The Garret Group, Juliana’s Pizza, Sunday Motor Co., Celis Juice Bar and Café and [solidcore].

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsFloridaIndustrialSoutheast

Terreno Realty Acquires Industrial Park in Doral, Florida for $195.6M

by John Nelson

DORAL, FLA. — Metro Seattle-based Terreno Realty Corp. has acquired Terreno Doral Air Logistics, an industrial park in the Miami suburb of Doral, for $195.6 million. The seller was not disclosed. Located at 7725-7785 N.W. 41st St., the facility is situated near the Palmetto Expressway and Miami International Airport. The property provides 110 dock-high loading positions, 36-foot clear heights, six grade-level loading positions, parking for 528 cars (including 11 electric vehicle charging stations) across three rear-load industrial distribution buildings that span approximately 496,000 square feet. The 23.4-acre property was 76 percent leased at the time of sale to six tenants.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaLoansOfficeSoutheast

Taubco, Landau Secure $74M Construction Loan for Office Project on Miami’s Bay Harbor Islands

by John Nelson

MIAMI — A joint venture between Taubco and Landau Properties has secured a $74 million construction loan for One Kane Concourse, the only Class A office development on Bay Harbor Islands in Miami. The 125,000-square-foot project is also the only Miami office building that will offer private boat access and dockage. 3650 Capital provided the loan. Located at 9551 E. Bay Harbor Drive, the waterfront building will be situated adjacent to Bal Harbor Shops and feature a ground-floor restaurant, private outdoor space and a rooftop terrace. Miami-based architect Luis Revuelta designed the seven-story office project. Taubco and Landau have tapped Brian Gale, Andrew Trench, Ryan Holtzman and Edward Quinon of Cushman & Wakefield for the leasing assignment at One Kane Concourse. The developers plan to wrap up construction by late 2026.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaLoansMultifamilySoutheast

Neology Development Obtains $63.5M Bridge Loan from Starwood for Miami Multifamily Project

by John Nelson

MIAMI — Neology Development Group has obtained a $63.5 million bridge loan from Starwood Property Trust to pay off the construction loan for Fourteen Main Street Residences, a multifamily development located along downtown Miami’s historic 36th Street. Charles Foschini, Christopher Apone, Lourdes Carranza-Alvarez and Shannon Wilson of Berkadia arranged the financing on behalf of Neology and American Opportunity Zone Advisors, a group led by Peter Linneman. Berkadia also arranged the original $57.5 million construction loan through Churchill Real Estate to fund Neology’s third project in Miami’s Allapattah neighborhood. Upon completion, the development will feature 237 units that will range in size from 450 to 1,000 square feet across two buildings named the Highrise and Midrise. The 14-story Highrise will include studio, one- and two-bedroom floor plans, and the five-story Midrise will include two-bedroom walk-up homes and two-bedroom apartment units. The development will also include ground-level retail space. Amenities will include a multipurpose lobby, coworking spaces, outdoor movie screen, 12,000-square-foot rooftop pool and clubhouse, poolside cabanas, fitness and wellness center, yoga and cardio studio, dog park, bike storage, smart package lockers, parking garage with electric vehicle charging stations and a rideshare lobby. Fourteen Main Street Residences is on track to receiving …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsAlabamaMultifamilySoutheast

DWG Capital, Dorado Holdings Purchase 106-Unit Multifamily Property in Montgomery

by John Nelson

MONTGOMERY, ALA. — A partnership between DWG Capital Partners and Dorado Holdings has purchased Cloverdale Estates, a 106-unit multifamily community located at 3453 Audubon Road in Montgomery. This marks the joint venture’s second acquisition in Montgomery, following the purchase of the 96-unit Greenbriar Apartments in July. Josh Jacobs of Marcus & Millichap’s Birmingham office represented the seller, an entity doing business as RK Cloverdale LLC, in the transaction. The sales price was not disclosed. Cloverdale Estates offers one-, two- and three-bedroom residences ranging in size from 725 to 1,350 square feet. Each apartment features spacious layouts, patios/balconies and select in-unit washer and dryer connections. Approximately 70 percent of the units have been upgraded with high-end finishes, updated mechanical systems and exterior improvements. The new ownership plans to renovate the remaining apartments over the next 24 months.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaOfficeSoutheast

Bull Realty Brokers Sale of 103,105 SF Office Building in Metro Atlanta

by John Nelson

NORCROSS, GA. — Atlanta-based Bull Realty has brokered the sale of a 103,105-square-foot office building in metro Atlanta that was formerly owned by Ameris Bank. Located at 6625 The Corners Parkway in Norcross, the property sold for $6.4 million in an all-cash deal. The buyer was an investor partnership that included ALM Automotive Group, a current tenant in the building. Michael Bull and Austin Bull of Bull Realty marketed the property on behalf of the seller.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts