Tuesday, May 19, 2026
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AcquisitionsGeorgiaSoutheastStudent Housing

Fountain Residential Partners Disposes of 241-Bed Student Housing Community Near KSU in Metro Atlanta

by John Nelson

KENNESAW, GA. — Fountain Residential Partners has sold 14 SixtyFive, a 241-bed student housing community near Kennesaw State University in metro Atlanta. The development was recently completed and offers two-, three-, four- and five-bedroom, fully furnished units with bed-to-bath parity. Community amenities include study spaces on every floor, a gaming room, 24-hour fitness center, outdoor kitchen, barbecue grills, resort-style swimming pool and a study lounge. The 52-unit property is situated one mile north of campus at 1465 Shiloh Road in Kennesaw. Teddy Leatherman, Stewart Hayes and Scott Clifton of JLL represented the seller in the disposition of the property to Nuveen Real Estate. The sales price was not disclosed.

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Conference CoverageFeaturesMultifamilySeniors HousingSoutheastSoutheast Feature Archive

Supply Chain Issues Slow Seniors Housing Development as Demand Balloons, Say InterFace Panelists

by Kristin Harlow

ATLANTA — Delays in the arrival of building materials — everything from windows and roof trusses to microchips for electrical panels — is one of the biggest hurdles slowing down new seniors housing developments, according to Kristin Kutac Ward, CEO of Solvere Living. Ward’s comments came during the ninth annual InterFace Seniors Housing conference. The event, which took place Aug. 17 at the Westin Buckhead in Atlanta, was hosted by France Media’s InterFace Conference Group and Seniors Housing Business and drew 324 attendees. Joining Ward on the development panel was Tod Petty, vice chairman with Lloyd Jones Senior Living; Matthew Griffin, senior vice president, eastern states, with Griffin Living; and Jim Vogel, president of Solvida Development Group. Rick Shamberg, managing director of Scarp Ridge Capital, served as the moderator. Despite the challenges in today’s building environment, there is pent-up demand and plenty of excitement regarding new seniors housing projects, said Ward. As baby boomers age, there will be a need for seniors housing care for about 50 million more people in the U.S., according to Shamberg. There’s ample opportunity for developers to fill that void in housing. According to Petty, the need for seniors housing units will be most pronounced …

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DevelopmentFloridaMixed-UseMultifamilyRetailSoutheast

Joint Venture Opens Phase I of MiLine Miami, Including 338-Unit Apartment Community and Brewery

by John Nelson

MIAMI — A joint venture between ZOM Living, Mattoni Group, Scout Capital and AEW Capital Management has completed the first phase of MiLine Miami, a mixed-use development in Miami spanning 11.4 acres. Phase I includes the delivery of a six-story, 338-unit apartment community, 4,600 square feet of retail space and 1,300 linear feet of the Ludlam Trail. Apartments come in studios, one-, two- and three-bedroom options ranging from 580 to 1,700 square feet, and community amenities include a swimming pool and pool deck with cabanas, grilling area, Zen courtyard, fire pit, social room, fitness center, aqua lounge and coworking spaces. The retail space in Phase I houses Thorn, a local brewery by the founders of Lincoln’s Beard Brewing Co. The beer garden will be anchored by two restaurants to be announced soon. Phase II of MiLine Miami will comprise 337 apartments — including 32 townhome units — and is slated to start construction by the end of the year. The third phase will deliver an additional 300 apartments and 18,000 square feet of retail space. The Ludlam Trail is being redeveloped into a linear park that spans six miles and connect four parks, three waterways, two Metrorail stations at Dadeland …

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AlabamaFloridaHospitalityLoansSoutheast

Mag Mile Capital Arranges $63M Refinancing of Gulf Coast Hotel Portfolio in Alabama, Florida

by John Nelson

CHICAGO — Mag Mile Capital has arranged a $63 million CMBS loan for the refinancing of a portfolio of nine hotels in the Gulf Coast region of Alabama and Florida. The borrower is A&R Hospitality, an institutional hospitality owner and developer based in Gulf Shores, Ala. The direct lender was not disclosed. The 10-year loan features cash-out proceeds, a loan-to-value ratio of 60 percent, 30-year amortization schedule and four years of interest-only payments. The assets include five hotels in Gulf Shores: Beachside Resort Hotel, Motel 6, Quality Inn, Red Roof Inn and Staybridge Suites. The other four assets include Fairfield Inn & Suites in Orange Beach, Ala.; Home2 Suites in Daphne, Ala.; Home2 Suites in Mobile, Ala.; and Red Roof Inn in Pensacola, Fla.

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AcquisitionsFloridaHospitalitySoutheast

CBRE Brokers $59M Sale of Hotel Melby in Downtown Melbourne, Florida

by John Nelson

MELBOURNE, FLA. — CBRE has brokered the sale of Hotel Melby, Tapestry Collection by Hilton, a new 180-room located at 801 E. Strawbridge Ave. in downtown Melbourne, a city on Florida’s Space Coast. An entity doing business as Nella Invest LLC purchased the property for $59 million, or $327,778 per room. Christian Charre, Paul Weimer, Jennifer Jin and Andrew Pastorino of CBRE represented the seller, a joint venture between Opterra Capital, Willow Street Capital, Duke Hospitality and LCP Group, in the transaction. Opened in April 2021, the 11-story hotel features a 360-degree-view rooftop restaurant and bar, coffee bistro, fitness center, more than 12,000 square feet of flexible meeting space and a parking garage. The design team for Hotel Melby included Welbro Construction, ODA Architecture and EoA Group.

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AcquisitionsDevelopmentMultifamilyNorth CarolinaSoutheast

Capstone Negotiates Sale of 19.1-Acre Multifamily Development Site in North Charlotte

by John Nelson

CHARLOTTE, N.C. — Capstone has negotiated the $4.4 million sale of a 19.1-acre development site located just north of the Camp North End mixed-use development in Charlotte. The site is located within an opportunity zone at the northwest corner of Statesville and Atando avenues and offers more than 1,500 feet of frontage along I-77. The unnamed buyer is a new-to-market developer, and the site is entitled for up to 350 garden-style apartment units. The buyer plans to begin construction in the coming months, according to Capstone. A portion of the Cross-Charlotte Greenway Trail system fronts the site, providing future residents with access to a 30-mile trail and greenway facility that will stretch from Pineville, N.C., to the University of North Carolina at Charlotte campus.

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Leasing ActivityRetailSoutheastVirginia

Planet Fitness to Open New Gym at Stony Point Village in Richmond

by John Nelson

RICHMOND, VA. — Planet Fitness has leased 17,476 square feet at Stony Point Village, a 114,422-square-foot shopping center located at 3000-3096 Stony Point Road in Richmond. The fitness chain expects to open the new location, its fifth in the Richmond market, this winter. Nicki Jassy of Cushman & Wakefield | Thalhimer represented Planet Fitness in the lease negotiations. James Ashby IV, also with Thalhimer, represented the unnamed landlord. In addition to the new Planet Fitness, Stony Point Village’s tenant roster includes Trader Joe’s, Good Foods Grocery, Gelati Celesti and Einstein Bros. Bagels.

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Edison Balancing Amenities Bohler
BohlerContent PartnerDevelopmentFeaturesLeasing ActivityMidwestMultifamilyNortheastSoutheastTexasWestern

Multifamily Developers Must Find Balance Between Density, Amenities

by Sarah Daniels

Finding a balance between density and amenities has never been simple for residential developers, but rising interest rates, density restrictions and an increased desire to solidify multifamily projects within the community mean that there is much to be gained from creative approaches to this old problem. Starting the process of planning early, using zoning to the developer’s advantage and creating an adaptable, sustainable and welcoming place for tenants can allow for a successful project with a lower overall price tag. This method can solve some of the trickier problems faced by multifamily developers, including density, parking and zoning considerations. Starting Off Right — Creating a Master Site Plan Success in multifamily is easier to achieve if the project starts with a shared team vision from the outset, says Bill Rearden, principal at Bohler, a land development design and consulting firm. Rearden explains that Bohler has its own planning, landscape architecture and survey teams and works with many industry partners for environmental and geotechnical due diligence. “We work with these teams in the very early stages to understand what the configuration of a property is and what its constraints are. We know upfront any underlying zoning a property might have, so …

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AcquisitionsDistrict of ColumbiaOfficeSoutheastTop Stories

Boston Properties Sells 601 Massachusetts Avenue Office Building in D.C. for $531M

by John Nelson

WASHINGTON, D.C. — Boston Properties Inc. (NYSE: BXP) has sold 601 Massachusetts Avenue, an approximately 480,000-square-foot office building in Washington, D.C., for $531 million. The buyer was not disclosed, but the Washington Business Journal reports that it was an affiliate of Mori Trust Co., a real estate development and investment firm based in Tokyo. Boston Properties originally developed the 11-story property in 2015. The firm will continue to provide property management services at 601 Massachusetts, which was 98 percent leased at the time of sale. 601 Massachusetts Avenue is situated in Washington, D.C.’s Mount Vernon Triangle neighborhood. Nearby attractions include the White House, Capital One Arena, Metro stations and the Walter E. Washington Convention Center. According to online property listings, the property includes a nine-story glass atrium, onsite fitness center, roof terrace and retail space leased to RPM Italian, Soul Cycle and lunch restaurant Devon & Blakely. Boston Properties structured the disposition as part of a reverse like-kind exchange under Section 1031 of the Internal Revenue Code with its $730 million acquisition in May of Madison Centre, a 37-story office tower in Seattle. “This disposition demonstrates continued investor demand for premier, well-leased office properties,” says Owen Thomas, chairman and CEO …

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Market ReportsOfficeSoutheastSoutheast Market ReportsVirginia

Smart Office Development Poises Richmond for Further Investment and Growth

by John Nelson

The high quality of life and relatively low cost of living in Richmond, coupled with sustained investment in live-work-play infrastructure, has led to population growth and a surge in investor interest in the city. The job market is showing strong signs of recovery with an unemployment rate of 3.2 percent, which is 40 basis points below the national average. Although office-using employment remains elevated at 3 percent from pre-pandemic levels, office vacancy rates remain relatively stable at 11.2 percent. Live-work-play rules the day Richmond has become a hot spot for millennials, boasting a low cost of living, high quality of life and amenity-rich neighborhoods. While the broader Richmond market has recorded 10 percent population growth since 2010, key submarkets in the urban core are growing at a faster pace, with Scott’s Addition recording 23 percent population growth during the same period. Developers have capitalized on this increased demand for city living, building out the urban core with multifamily and mixed-use developments in trendy submarkets. Scott’s Addition and Manchester — which have more breweries per capita than any other neighborhood — have added a combined 3,000 apartment units in the last five years, with an additional 1,300 units currently under construction. …

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