Thursday, July 31, 2025
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Bentley's Hotel
AcquisitionsFloridaHospitalitySoutheast

Marcus & Millichap Brokers $15.4M Sale of Three-Property Hotel Portfolio in Florida

by Julia Sanders

OSPREY AND NOKOMIS, FLA. — Marcus & Millichap has brokered the $15.4 million sale of a three-property hotel portfolio in Florida. The assets include Bentley’s Boutique Hotel (88 rooms) and The Virage Hotel (54 rooms) in Osprey and On The Beach Casey Key Hotel (11 rooms) in Nokomis. David Greenberg, Gabriel Shamay and Christopher Passeggiata of Marcus & Millichap represented the seller, an individual based out of the United Kingdom, and procured the unnamed Florida-based buyer. The new ownership plans to renovate and reposition the three properties as independent resorts.

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AcquisitionsDevelopmentMultifamilySeniors HousingSoutheastTennessee

Bridgewood Acquires Land in Nashville, Plans to Develop Luxury Seniors Housing Community

by Julia Sanders

NASHVILLE, TENN. — Bridgewood Property Co., a Houston-based developer of senior living properties, has acquired land at 3808 Cleghorn Ave. in Nashville for the development of a mid-rise, luxury retirement community. With guidance and input from zoning counsel; Tune, Entrekin & White PC; the Metropolitan Planning Department; and local neighborhood groups, the property received zoning approval in February 2021 to build 205 senior living units within a 12-story facility. The new Bridgewood community in the city’s Green Hills neighborhood will offer independent living, assisted living and memory care residences and will be located close to the neighborhoods of Belle Meade, Forest Hills and Hillwood. The purchase price of the land was not disclosed. ESa is the project architect of the unnamed community, and Catalyst Design Group will provide civil engineer services. The project’s construction timeline was not disclosed.

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Build-to-RentMidwestMultifamilyNortheastSingle-Family RentalSoutheastTexasVideoWalker & DunlopWebinarWestern

Webinar: Everything You Need to Know About the Single-Family Rental & Build-For-Rent Market

by Sarah Daniels

  On Apr. 7, France Media hosted the “Everything You Need to Know About the Single-Family Rental & Build-For-Rent Market” webinar, sponsored by Walker & Dunlop. The single-family rental (SFR) and build-for-rent (BFR) space has generated excitement throughout the commercial real estate world. This webinar brings together five expert panelists to answer the most pressing questions for this asset class: what to know about SFR and BFR verticals, issues and trends within the space, the sudden influx of institutional capital and where things might go from here. Click to hear more. See a list of some topics covered below: SFR and BFR markets definitions/size Factors driving growth (including changing demographic trends, COVID-19), occupancy levels and the most active markets SFR/BFR rental rates and the pipeline of new supply in the asset class Institutional capital/availability of financing/investment market layout for the SFR/BFR space Overview on managing and maintaining SFR/BFR products and portfolios Panelists: David Howard, National Rental Home Council (moderator) Keaton Merrell, Walker & Dunlop Mark Peterson, SVN | SFRhub Advisors Don Walker, John Burns Consulting Jon Ellenzweig, Tricon Residential Webinar sponsor: Walker & Dunlop strives to be the premier commercial real estate finance company in the country by providing financing solutions and investment sales to owners of …

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DevelopmentIndustrialLouisianaSoutheast

Lineage Logistics to Build $42M Expansion of Cold Storage Facility at Port of New Orleans

by Julia Sanders

NEW ORLEANS — Lineage Logistics, an industrial REIT specializing in cold storage real estate, will build a $42 million expansion of its Jourdan Road cold storage facility at Port of New Orleans (Port NOLA). The State of Louisiana is providing $10 million in capital outlay funds, while Port NOLA is providing $2 million in funds. Michigan-based Lineage Logistics is investing the remaining $30 million in capital for the cold storage project, and also is expected to utilize Louisiana’s Quality Jobs Program. The cold storage complex is located along the Inner Harbor Navigation Canal. The development plans are for the complex to grow from 160,000 square feet to 304,000 square feet. Lineage Logistics plans to retain 188 existing jobs with the new project, while creating an estimated 50 new direct maritime and warehousing jobs. Louisiana Economic Development estimates the project will result in an additional 56 new indirect jobs, for a total of more than 100 new permanent jobs in the region. In 2020, Lineage Logistics’ facilities in New Orleans partnered with Port NOLA to export 380,000 tons of poultry to global markets. The development expansion will support imports of fresh produce as well. In 2012, Port NOLA and New Orleans …

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Riverside on the James
AcquisitionsOfficeSoutheastVirginia

JLL Arranges Sale of 14-Story Riverside on the James Office Building in Richmond

by Julia Sanders

RICHMOND, VA. — JLL Capital Markets has arranged the sale of Riverside on the James, a 263,752-square-foot, Class A office property in Richmond’s central business district. The 14-story property is located at 1001 Haxall Ave. and features views of the James River, an attached six-level parking deck and an onsite fitness center. Chris Lingerfelt, Ryan Clutter and Stephen Conley of JLL represented the seller, Washington, D.C.-based American Real Estate Partners LLC. JLL also procured the buyer, Opal Holdings, which is based in New York City. The sales price was not disclosed. Riverside on the James was 95.3 percent leased at the time of sale. Some of the current tenants were also the original tenants of the building, which was built in 2005.

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Medley Light
AcquisitionsFloridaIndustrialSoutheast

CBRE Negotiates Sale of 154,479 SF Warehouse in Medley, Florida

by Julia Sanders

MEDLEY, FLA. — CBRE has executed the sale of Medley Light Industrial, a 154,479-square-foot warehouse located at 14001 NW 112th Ave. in Medley. TA Realty, a Boston-based institutional investor, purchased the facility, which was 24 percent leased at the time of sale. Christian Lee, Chris Riley and José Lobón of CBRE represented the seller, a joint venture between EverWest Real Estate Investors and TRX Investments, in the transaction. The sales price was not disclosed. Medley Light Industrial features 32-foot clear heights, a rear loading configuration with dock-high doors, 120-foot truck court depths, ESFR sprinklers and 8 percent overall office finish. Amy Julian, Royce Rose, Devin White and David Albert of CBRE assisted in the transaction.

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AcquisitionsMultifamilySoutheastStudent HousingVirginia

Graystone Fund I Acquires 456-Bed Student Housing Portfolio Near Virginia Tech for $33.8M

by Julia Sanders

BLACKSBURG, VA. — Graystone Fund I (GFI) has acquired a 456-bed, 140-unit portfolio of student housing near the Virginia Tech University campus in Blacksburg for $33.8 million. The properties were previously owned and managed by BCR Property Management. GFI plans to make improvements and repairs to the acquired portfolio, aiming to increase the overall quality and marketability of the product. Further details on the acquisition were not disclosed. Graystone Cos. also plans to construct an approved 204-bed student housing community at the corner of Toms Creek Road in Blacksburg, furthering its footprint in the Virginia Tech market.

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District of ColumbiaSoutheast

First-Time Claims for Unemployment Insurance Increase to 744,000, Higher Than Expected

by Julia Sanders

WASHINGTON, D.C. — A total of 744,000 Americans filed for first time unemployment assistance for the week that ended April 3, the U.S. Department of Labor reported Thursday. The amount of initial jobless claims was higher than the 694,000 figure that economists surveyed by Dow Jones predicted and is an increase of 16,000 from last week’s revised total of 728,000. Last week, the original number of first time unemployment claims were a total of 719,000. Continuing claims, for which data lags a week, decreased by 105,750 to a little more than 3.86 million. Last month, the economy appeared to be healing. In March, the U.S. unemployment rate fell to 6 percent and nonfarm payrolls increased by 916,000, which was the biggest job gain since August 2020. However, the unemployment rate remains substantially higher than the pre-pandemic low of 3.5 percent.

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Dragstrip Logistics
AcquisitionsFloridaIndustrialSoutheast

Cushman & Wakefield Arranges Sale of 710,962 SF Distribution Center in Lakeland, Florida

by Julia Sanders

LAKELAND, FLA. — Cushman & Wakefield has arranged the sale of Dragstrip Logistics Center, a 710,962-square-foot, Class A distribution center located in Lakeland. Amazon is a tenant at the facility, according to the Tampa Bay Business Journal. Mike Davis, Rick Brugge, Stewart Calhoun, Rick Colon, Casey Masters, Dominic Montazemi and Zachary Eicholtz of Cushman & Wakefield represented the seller, Atlanta-based Ackerman & Co., in the transaction. Led by Steve Centrella, Intercontinental Real Estate Corp. acquired the property on behalf of one of its managed funds. The purchase price was not disclosed. Located at 8100 State-Road 33, Dragstrip Logistics Center is located between Tampa and Orlando and is situated along the Interstate 4 corridor. The building features a cross-dock design with 146 dock-high doors, 40-foot clear heights, 185-foot truck court depths plus 60-foot concrete aprons, 183 trailer drops, 858 van stalls and ESFR fire protection.

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Hazelcrest
AcquisitionsMarylandMultifamilySoutheast

Concord Communities Acquires Four Apartment Properties in Northeast Baltimore for $29.5M

by Julia Sanders

BALTIMORE, MD. — Concord Communities, a Washington, D.C.-based affordable housing owner and developer, has acquired four apartment properties totaling 340 units in northeast Baltimore for $29.5 million. Ralph Crozier led the acquisition on behalf of Concord Communities on an internal basis, and Christine Espenshade of Newmark represented the seller. The sales price and seller were not disclosed. The communities — Walther Avenue Apartments, Hazelcrest Apartments and Northern Village Apartments East and West — are located within one mile of each other. Built in 1967, the 64-unit Walther Avenue Apartments offers residences ranging from studio to two-bedroom floor plans across six three-story buildings. The community was 95 percent occupied at the time of sale. Hazelcrest Apartments, located at 5717 Plainfield Ave., was built in 1965. The 48-unit apartment community features two-bedroom apartment units across eight two-story buildings. Hazelcrest was 95 percent occupied at the time of sale. Northern Village Apartments East and West, located at 6623 Pioneer Drive, was built in 1972 and consists of 228 units in total. The communities offer a mix of one-, two- and three-bedroom floor plans across 23 two-story buildings. The Northern Village property was 97 percent occupied at the time of sale. Concord Communities is …

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