Friday, February 6, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Southeast

AcquisitionsDistrict of ColumbiaSelf-StorageSoutheast

Foulger-Pratt Sells 1,752-Unit Self-Storage Facility in D.C.

by John Nelson

WASHINGTON, D.C. — Potomac, Md.-based Foulger-Pratt has sold a 1,752-unit self-storage facility located at 72 Florida Ave. in Washington, D.C. A partnership between Invesco Real Estate and Baranof Holdings purchased the facility for an undisclosed price. Steve Mellon, Brian Somoza, Craig Childs, Bill Prutting and Jay Wellschlager of JLL represented the seller in the transaction. Built in March 2020, the seven-story property operates under the Extra Space Storage brand and features a 1,000-square-foot office and 400 square feet of restrooms and bike storage. The facility offers electronic access control, 24-hour video surveillance, covered loading areas and two elevators to access the upper floors.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLoansMultifamilyNorth CarolinaSoutheast

CBRE Arranges $50.6M Construction Loan for Multifamily Redevelopment Project in Chapel Hill, North Carolina

by John Nelson

CHAPEL HILL, N.C. — CBRE has arranged $50.6 million in construction financing for Link Apartments Calyx, a 304-unit multifamily redevelopment project in Chapel Hill. Nate Sittema, Kristen Reilley, Elliott Voreis and Ben Hardee of CBRE Capital Markets’ Debt and Structured Finance team in the Carolinas originated the 10-year, 60 percent loan-to-stabilized value construction loan through an unnamed life insurance company on behalf of the borrower, Grubb Properties. Link Apartments Calyx is located at the intersection of Lanark and Maxwell roads within Phase II of the redevelopment of Glen Lennox, an approximately 70-acre historic master-planned neighborhood that was purchased by Grubb Properties in 1985. Link Apartments Calyx will offer studio, one- and two-bedroom apartments, as well as a fitness center, coworking space, a cycle center, pool, rooftop resident lounge and a parking garage. Construction is expected to be completed in 2023. Overall, the second phase of the Glen Lennox redevelopment is set to include 650 residential units, 90,000 square feet of retail space, a 150-room hotel and 275,000 square feet of office space.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilySoutheastVirginia

American Landmark Purchases Element at Stonebridge Apartments in Chesterfield, Virginia

by John Nelson

CHESTERFIELD, VA. — American Landmark has purchased Element at Stonebridge, a 400-unit apartment community located at 301 Karl Linn Drive in Chesterfield, just south of Richmond. The seller and sales price were not disclosed. Built in 2016, Element at Stonebridge offers one- and two-bedroom floor plans ranging from 563 to 1,236 square feet. The apartments include designer wood cabinets, granite counters with deep sinks and chrome fixtures, full-size washers and dryers, plank flooring, walk-in closets and island kitchens in most units. Amenities include a saltwater pool, 24-hour fitness center, yoga studio, clubroom with billiards and TVs, outdoor game and TV lounge, courtyard with grills and firepit, 24-hour business center and community Wi-Fi. Element at Stonebridge marks American Landmark’s second acquisition in Virginia this year, following Boulders Lakeside Apartments in January, which is only an hour away from Element at Stonebridge.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaRestaurantRetailSoutheast

JLL Brokers $18.5M Sale of Ivy Walk Retail Center in Smyrna, Georgia

by John Nelson

SMYRNA, GA. — JLL Capital Markets has brokered the $18.5 million sale of Ivy Walk, a 42,499-square-foot neighborhood retail center located in the north Atlanta suburb of Smyrna. Brad Buchanan, Jim Hamilton and Andrew Kahn of JLL represented the seller, MRE Properties, in the transaction. The buyer was South Coast Commercial LLC. Ivy Walk was built in 2004 and was 91 percent leased at the time of sale to tenants such as Muss & Turner’s, South City Kitchen, First Watch, Natural Body Spa and Children’s Healthcare of Atlanta.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsDevelopmentIndustrialSouth CarolinaSoutheast

PRP Purchases 1.9 MSF Distribution Center Underway in Upstate South Carolina

by John Nelson

MOORE, S.C. — PRP has purchased a new distribution center under construction in Moore totaling nearly 1.9 million square feet. Situated in South Carolina’s Upstate region, the modern distribution center will be fully leased to Hart Consumer Products, a subsidiary of Techtronic Industries Co. Ltd. that produces power tools and lawn and garden equipment. PRP will finish developing the build-to-suit project with joint venture partner Flint Development. The total capitalization of the development is $185 million and will be fully completed by the fourth quarter of 2023, according to PRP. The property will feature a cross-dock loading configuration, 40-foot clear heights, 338 dock doors, a 185-foot truck court and 835 spaces of excess trailer parking on 178 acres.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentHospitalityLoansSoutheastTennessee

Mag Mile Capital Arranges $43.1M Construction Loan for New Hotel in Nashville’s West End

by John Nelson

NASHVILLE, TENN. — Mag Mile Capital has arranged a $43.1 million construction loan for the development of a four-story hotel located at 2221 Elliston Place in Nashville. Situated near Vanderbilt University in the city’s West End submarket, the 184-room hotel will feature a 70-space parking garage and nearly 30,000 square feet of commercial space. Francisco Nacorda of Mag Mile originated the three-year loan through an undisclosed lender on behalf of the borrower, an entity doing business as Elliston Hospitality LLC. The loan features interest-only payments, two one-year extension options, a loan-to-cost (LTC) ratio of 82.5 percent and a 10.35 percent interest rate. The borrower plans to receive the certificate of occupancy for the hotel next summer and reach full stabilization by spring 2024.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsFloridaRetailSoutheast

Publix Super Markets Acquires Osceola Village Shopping Center in Kissimmee, Florida for $36.1M

by John Nelson

KISSIMMEE, FLA. — Lakeland, Fla.-based Publix Super Markets has purchased Osceola Village, a 121,445-square-foot shopping center located at 3040 Dyer Blvd. in Kissimmee, a suburb of Orlando. East Coast Acquisitions sold the Publix-anchored property for $36.1 million. Brad Peterson and Whitaker Leonhardt of JLL represented the seller in the transaction and procured the buyer. Built in 2008 and renovated in 2022, Osceola Village was fully leased at the time of sale to tenants including Metro Diner, Insight Credit Union, Orlando Health, DaVita Dialysis and Goodwill, which recently entered a new 15-year lease.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsFloridaMultifamilySoutheast

Franklin Street Negotiates $34M Sale of Apartment Community on Florida’s Space Coast

by John Nelson

MELBOURNE, FLA. — Franklin Street has negotiated the sale of Paradise Cay Apartments, a 197-unit multifamily property in Melbourne. Topaz Capital Group LLC purchased the community from Wells Boys & Girls Management for $34 million, or $172,588 per unit. Darron Kattan, Zachary Ames, Avery Jordan, Mark Savarese, Cary Brown and Cameron Wolfe of Franklin Street represented both parties in the 1031 transaction. Located on Florida’s Space Coast at 1900 Post Road, Paradise Cay features one-, two- and three-bedroom units ranging from 619 to 1,061 square feet. Community amenities include a swimming pool, basketball court and picnic areas and gated access.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMarylandRetailSoutheast

Cushman & Wakefield Brokers Sale of 125,245 SF Shopping Center in Takoma Park, Maryland

by John Nelson

TAKOMA PARK, MD. — Cushman & Wakefield has brokered the sale of Takoma Langley Crossroads, a 125,245-square-foot, grocery-anchored shopping center in Takoma Park, a city in suburban Maryland’s Montgomery County. Granite Canyon Partners purchased the grocery-anchored center for an undisclosed price. Cushman & Wakefield’s John Owendoff represented the unnamed seller in the transaction. The recently renovated shopping center was nearly fully leased at the time of sale to tenants including Aldi, Walgreens, Citibank, Taco Bell and 7-Eleven. Situated on nearly 10 acres at the intersection of University Boulevard and New Hampshire Avenue, Takoma Langley is located across the street from the Takoma Langley Transit Center, the largest non-Metrorail transfer point in the metro Washington, D.C., region and the future home of a Purple Line Metro stop.

Continue Reading
FacebookTwitterLinkedinEmail
Conference CoverageFeaturesGeorgiaSeniors HousingSoutheastSoutheast Feature Archive

Seniors Housing Operators See Rapid Rise in Online Leads and Universal Workers, Say InterFace Panelists

by John Nelson

By John Nelson ATLANTA — Property managers rely on various tools and methods to boost occupancy at their seniors housing facilities. One common avenue is for operators to have reliable online lead generators that connect their sales teams to potential residents and their families. Digital platforms in the seniors housing space like A Place for Mom and Grow Your Occupancy are churning out such leads for sales teams, and operators are saying that it’s a double-edged sword because they are coming in at a rapid clip. “We love the leads but we have one salesperson per community typically,” said Don Bishop, CEO of Tallahassee, Fla.-based SRI Management. “The response time is important. Some leads take a long time to prospect and work through the system. Having too many leads is a good challenge, but it is a challenge.” Bishop’s comments came during the operations panel at the ninth annual InterFace Seniors Housing Southeast, a networking and information conference hosted by France Media’s InterFace Conference Group and Seniors Housing Business. The event was held Wednesday, Aug. 17 at the Westin Buckhead hotel in Atlanta. Pilar Carvajal, founder and CEO of Innovation Senior Living, said that her firm has been discussing creative …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts