Wednesday, August 20, 2025
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Southeast

Two Harbour Place
FloridaLoansOfficeSoutheast

Cushman & Wakefield Secures $33.8M in Financing for Two Harbour Place Office Building in Downtown Tampa

by Julia Sanders

TAMPA, FLA. — Cushman & Wakefield has secured $33.8 million in financing for Two Harbour Place, a Class A office building located in downtown Tampa. Cushman & Wakefield also arranged the sale for the property. Mike Davis, Rick Brugge, Rick Colon, Zachary Eicholtz and Dominic Montazemi of Cushman & Wakefield represented the seller, a joint venture between CP Group and CenterSquare Investment Management, in the transaction. Farley White Interests, a Boston-based commercial real estate owner, acquired the property for an undisclosed price. Jason Hochman, Brian Linnihan, Mike Ryan and Ron Granite of Cushman & Wakefield secured the long-term, fixed-rate acquisition loan through Metropolitan Life Insurance Co. Located at 302 Knights Run Avenue, the 12-story building was 92 percent leased at the time of sale. Property amenities include 3.7 per 1,000-square-foot parking ratio via an attached structured garage, as well as an onsite coffeehouse, concierge services, a full-time day porter, auto detailing and dry-cleaning pick-up and delivery. CP Group, formerly Crocker Partners, is a Boca Raton, Fla.-based owner, operator and developer of office and mixed-use projects throughout the Southeast and Southwest United States. CenterSquare is a global investment manager based in Philadelphia.

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Kane Concourse
AcquisitionsDevelopmentFloridaMixed-UseSoutheast

Berkadia Arranges $31M Sale of Mixed-Use Development Site in Miami

by Julia Sanders

MIAMI — Berkadia has arranged the $31 million sale of a 1.8-acre development site in Miami’s Bay Harbor Islands known as 1177 Kane Concourse. Located just west of Bal Harbour Shops, the site includes 300 feet of frontage on Kane Concourse and is permitted for a mixed-use residential, retail and office development. Jaret Turkell, Roberto Pesant, Scott Wadler, Omar Morales and Jose Mota of Berkadia’s Miami office represented the seller, Northwood Investors, in the transaction. David Martin is the developer’s CEO, and Terra is the buyer for the development site. Martin says the plans for 1177 Kane Concourse include a mixed-use development with a residential component, Class A office and retail space and food and beverage options at the street level. Bay Harbor Islands is a community situated roughly two miles north of Miami Beach, just above Indian Creek Island. The islands are accessible to Interstate 95 via N.E. 123rd Street.

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DevelopmentRetailSoutheastVirginia

Federal Realty Investment Trust to Redevelop Graham Park in Falls Church, Virginia

by Julia Sanders

FALLS CHURCH, VA. — Federal Realty Investment Trust will redevelop Graham Park, a 132,000-square-foot community shopping center located at 7263 Arlington Boulevard in Falls Church. Graham Park’s redevelopment project will include façade renovation, new signage, enhanced landscaping, decorative lighting and outdoor amenity areas. The renovation is projected to begin in July and be completed by the end of the year. Graham Park is anchored by Giant Food and features a mix of retail, dining and services including Celebrity Delly, Advanced Auto Parts, Mavana Nails & Waxing and Verizon Wireless. The shopping center opened in 1971 and was acquired by Federal Realty Investment Trust in 1983. Federal Realty Investment Trust is a real estate investment trust based in Rockville, Maryland.

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AcquisitionsFloridaMultifamilySoutheast

Fundrise Acquires Lake Shadow Apartments in Metro Orlando for $83M

by Julia Sanders

MAITLAND, FLA. — Fundrise has acquired Lake Shadow Apartments, a 300-unit, Class A multifamily property in metro Orlando. Bainbridge Cos. sold the community to Fundrise for $83.1 million. Located on a 16-acre site at 2200 Flagler Promenade Way in Maitland, the property will be renamed Luna at Lake Shadow. The 330,000-square-foot community features one-, two- and three-bedroom apartments. Regions Bank provided an undisclosed amount of acquisition financing to Fundrise, a Washington, D.C.-based real estate investment platform. Bainbridge Cos. LLC is a Wellington, Fla.-based owner, developer and manager of multifamily apartment communities in the Eastern United States and Texas.

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AcquisitionsAlabamaIndustrialLeasing ActivitySoutheast

W. P. Carey Purchases Industrial Property in Opelika, Alabama Leased to JOANN for $49M

by Julia Sanders

OPELIKA, ALA. — W. P. Carey Inc., a New York City-based net lease REIT, has purchased an industrial property located at 3101 Anderson Road in Opelika for $49 million. W. P. Carey purchased the 703,000-square-foot, Class A logistics facility in a sale-leaseback transaction with JOANN, a sewing and fabrics retailer based in Hudson, Ohio. The property is triple-net-leased to JOANN for a period of 20 years, with fixed annual rent escalations. The cross-dock facility features up to 40-foot clear heights and is on a site that allows for future expansion. The property is located along Interstate 85. Built in 2005, it supplies products to more than one-third of JOANN’s nearly 900 retail locations nationwide.

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Echo Street West
DevelopmentGeorgiaMixed-UseSoutheast

Lincoln Property Co. Breaks Ground on Echo Street West Mixed-Use Property in Atlanta

by Julia Sanders

ATLANTA — Lincoln Property Co. has broken ground on the next phases of Echo Street West, a 19-acre mixed-use property located at intersection of Donald Lee Hollowell Parkway and Northside Drive in Atlanta. The multi-phase project includes 300,000 square feet of creative office space, 50,000 square feet of retail and restaurant space, 292 multifamily units, an events venue, artist colony and 3.4 acres of outdoor entertainment and green space. Future phases will bring additional office, retail, residential and hotel components to the site. The total Phase I development is expected to cost $265 million. Echo Street West will have several new community amenities, including the now-open event venue Guardian Works, the soon-to-open artist colony Guardian Studios and CoLab, a neighborhood creative office and venue space led by Joan Vernon, community organizer and director of Neighborhood Engagement at Westside Future Fund. Guardian Studios is an adaptive reuse of an early 1900s-era warehouse at Echo Street West. The first phase will feature 14 rentable art studios ranging in size from 200 to 500 square feet, a 3,000-square-foot open gallery space and outdoor wall murals. The second phase will add another 26 studios, bringing the total creative community to over 40 artists. Black …

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DevelopmentFloridaMultifamilySoutheast

Watermark Residential to Develop 214-Unit Build-to-Rent Community in Port St. Lucie, Florida

by Julia Sanders

PORT ST. LUCIE, FLA. — Watermark Residential, a wholly owned affiliate of Thompson Thrift, will develop Boardwalk at Tradition, a 214-unit build-to-rent multifamily community in Port St. Lucie. Watermark acquired 17.5 acres of land to develop the property, which will be a residential community featuring one- and two-story paired villa-style homes. The project is slated for completion in December 2022. Boardwalk at Tradition will be located at the southeast corner of SW Stockton Place and SW Community Boulevard. The property will offer a mix of one-, two- and three-bedroom layouts that average 1,100 square feet. Community amenities will include gourmet bar-kitchens with quartz countertops, stainless steel appliances, full-size washers and dryers, private backyard patios, resort style pool, professionally design and appointed clubhouses, a pickleball court, fire pits, outdoor kitchens, several dog parks and a 24-hour fitness center. Boardwalk at Tradition is part of the 8,200-acre master planned Tradition community, which has $365 million in new development in the works. The apartment community is situated close to Cleveland Clinic Tradition Hospital and sits one mile west of Interstate 95.

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Post Ridge
AlabamaLoansMultifamilySoutheast

Trillium Capital Resources Arranges $14M in Refinancing for Two Apartment Communities in Phenix City, Alabama

by Julia Sanders

PHENIX CITY, ALA. — Trillium Capital Resources has arranged $14 million in refinancing for The Gardens Apartments and Post Ridge Apartments, which are both multifamily communities located in Phenix City. The Gardens Apartments has 190 units and Post Ridge Apartments has 152 units. Located at 501 16th Ave. N., Post Ridge includes one-, two- and three-bedroom units. HUD’s A7 refinance program allowed Trillium to procure a fixed interest rate of 2.75 percent for The Gardens. The 25-year loan reduces the undisclosed borrower’s mortgage insurance premium (MIP) from 0.60 percent to 0.25 percent.

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AcquisitionsCompany NewsFloridaMidwestOhioSeniors HousingSoutheastTop Stories

Holiday Retirement Sells Operations Business to Atria, 86 Communities to Welltower for $1.6B in Megadeal

by John Nelson

LOUISVILLE, KY., WINTER PARK, FLA., AND TOLDEO, OHIO — In a massive blockbuster deal for seniors housing, the seventh-largest operator of seniors housing in the United States (Atria Senior Living) will acquire the third-largest (Holiday Retirement), with the largest owner in the country (Welltower) buying up a large portfolio of the affected assets. Atria, a privately held seniors housing operator based in Louisville, has agreed to buy the operations business of Winter Park-based Holiday Retirement. Meanwhile, Toledo-based REIT Welltower (NYSE: WELL) will buy the 86 properties that Holiday owns and self-manages for slightly less than $1.6 billion. Holiday currently manages 240 communities in 43 states, largely in the independent living sector. The combined company will employ more than 19,000 staffers to serve over 45,000 residents. The new firm will manage 447 communities across 45 states and seven Canadian provinces. The newly combined entity will be the second-largest seniors housing operator in the country, behind only Brookdale Senior Living. After the transaction, Atria will manage more than 250 “nearly identical” communities and higher end properties such as the recently opened Atria Newport Beach in Southern California, as well as luxury urban properties that Atria is co-developing in a joint venture with …

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GeorgiaLoansMultifamilySoutheast

Newmark Secures $82M Refinancing Loan for 788 West Midtown Condo Property in Atlanta

by Julia Sanders

ATLANTA — Newmark, on behalf of McKinley Homes, has secured an $82 million loan for the refinancing of 788 West Midtown, a 279-unit luxury condominium building located in Atlanta’s West Midtown neighborhood. Jordan Roeschlaub, Dustin Stolly, Chris Kramer, Nick Scribani and Ben Kroll of Newmark arranged the financing through Cerberus. Located close to Georgia Tech and Atlantic Station, 788 West Midtown is located at 788 W. Marietta St. NW. Roughly 40 percent of the condos at 788 West Midtown are sold and sales velocity is averaging more than four per month, according to Newmark. Based in Peachtree Corners in metro Atlanta, McKinley Homes is a land developer and builder specializing in real estate development and vertical construction.

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