Tuesday, May 26, 2026
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Merrimac Plantation
DevelopmentFloridaMultifamilySoutheast

Merrimac Breaks Ground on $90M Multifamily Development in Plantation, Florida

by Julia Sanders

PLANTATION, FLA. — South Florida-based development firm, Merrimac Ventures has broken ground on Merrimac Plantation, a multifamily development in Plantation. Located at 1711 N. University Drive, Merrimac Plantation will total 293,945 square feet with 306 apartments across two six-story midrise buildings. Construction is slated for completion in 2023. The apartment units will range from one- to three-bedroom layouts, featuring stainless-steel appliances, quartz countertops and smart locks and thermostats. Community amenities will include a double-height lobby; club room; pool; covered terrace; barbecue grilling stations; two exterior courtyards; fitness center; co-working and business center with private offices and conference rooms; resident lounge; dog park and dog spa; electric vehicle charging stations; and Wi-Fi connectivity throughout the property. Merrimac Plantation will be adjacent to the Plantation Midtown Business District, an 860-acre, master-planned development featuring 2.5 million square feet of retail and restaurants as well as 3 million square feet of office space. The apartment community is also near Plantation Pointe Office Park, Westside Regional Medical Center, the Plantation Walk mixed-use redevelopment, the 1 million-square-foot Fountain Shoppes lifestyle center, the 2.4 million-square-foot Sawgrass Mills and Plantation’s 103-acre Central Park.

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Madison Commons
AcquisitionsAlabamaRetailSoutheast

JLL Arranges Sale of Publix-Anchored Retail Center in Metro Huntsville for $19.2M

by Julia Sanders

MADISON, ALA. — JLL Capital Markets has arranged the $19.2 million sale of Madison Commons, a 75,340-square-foot shopping center in Madison. JRW Realty represented the buyer, ExchangeRight. Brad Peterson, Whitaker Leonhardt, Jim Hamilton, Brad Buchanan, Andrew Michols and Michael Brewster of JLL represented the seller, Michael Collard Properties. Completed in 2018, Publix anchors the property, which is currently 92 percent occupied. Other national and regional tenants include Easy Vet Clinic, Golden China, ATI Physical Therapy, Goodwill, Primp and Posh Nail and Pita Mediterranean. Located at 300 Hughes Road, the asset sits at the intersection of Hughes and Brows Ferry roads less than two miles from U.S. Highway 72.

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Willow Ridge
LoansMultifamilySouth CarolinaSoutheast

Electra Capital Funds $16.9M Acquisition Loan for Apartment Complex in Charleston

by Julia Sanders

CHARLESTON, S.C. — Electra Capital has provided a $16.9 million bridge loan for the acquisition of Avalon at North Charleston III, a 145-unit apartment complex in Charleston. Carolina Multifamily Investments, a privately held real estate investment firm based in Chalfont, Penn., acquired the garden-style apartment community for $22.4 million. The seller was not disclosed. Located at 7604-7749 Warsaw Road, Avalon at North Charleston III is a newly renovated townhome community offering one- and two-bedroom apartments ranging from 688 square feet to 1,196 square feet. The community was formerly known as Willow Ridge. Renovations include updated kitchens with white shaker cabinetry, granite countertops, black appliances and plank flooring throughout the main level. Bathrooms have been updated with white shaker vanities, lighting and rain showers. Avalon is located about 1.3 miles from the Charleston Air Force Base and 4.3 miles from Charleston International Airport.

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Capitol Mall
AcquisitionsFloridaMixed-UseSoutheast

CBRE Negotiates $3.8M Sale of Capitol Mall in Palm Springs, Florida

by Julia Sanders

PALM SPRINGS, FLA. — CBRE has facilitated the $3.8 million sale of Capitol Mall, a mixed-use property featuring a 23,698-square-foot, multi-tenant retail center and a 7,250-square-foot, multi-tenant warehouse building behind the retail stores. Located at 3745 South Congress Ave. in Palm Springs, the buyer was Capitol Mall LLC, a South Florida-based private investor. Congressional Developers Inc. was the seller. David Donnellan and Patricia Friend of CBRE represented the buyer in the transaction.

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AcquisitionsHospitalityMarylandSoutheast

Condor Hospitality Trust to Sell Entire Hotel Portfolio to Blackstone for $305M

by Jeff Shaw

BETHESDA, MD. — Condor Hospitality Trust Inc. (NYSE: CDOR) has agreed to sell its entire hotel portfolio to affiliates of Blackstone Real Estate Partners for $305 million. The all-cash transaction does not include the assumption of any existing debt. Completion of the deal, which is expected to occur in the fourth quarter of 2021, is subject to customary closing conditions, including the approval of the company’s shareholders. The Bethesda-based real estate investment trust’s hotel portfolio includes 15 properties in eight states. Blackstone entered into voting agreements with Condor’s certain shareholders that hold approximately 60 percent of the common shares. Those shareholders voted in favor of the transaction.

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AcquisitionsFloridaHospitalitySoutheast

Pebblebrook Hotel Trust Acquires Margaritaville Hollywood Beach Resort in Florida for $270M

by Jeff Shaw

HOLLYWOOD, FLA. — Pebblebrook Hotel Trust (NYSE: PEB) has acquired the 369-room Margaritaville Hollywood Beach Resort in Hollywood. An affiliate of KSL Capital Partners LLC sold the asset for $270 million. Davidson Hospitality Group will continue to manage the lifestyle resort. Margaritaville Hollywood Beach Resort is located on 6.2 acres off the Hollywood Boardwalk with 450 linear feet of direct beach frontage. Built in 2015, the resort includes over 30,000 square feet of indoor and outdoor event space overlooking the Atlantic Ocean. The resort also features eight dining venues, including Jimmy Buffet’s Margaritaville, Landshark Bar & Grill, JWB Prime Steak and Seafood, 5 o’Clock Somewhere Bar & Grill and Floridays Airstream Cafe. Resort amenities also include the 11,000-square-foot St. Somewhere Spa, Fitness and Salon, multiple outdoor swimming pools, 22 full-service cabanas, the Flowrider Surf Simulator, the Parakeets Kid’s Club, retail outlets and live entertainment nightly at one of the resort’s several outdoor entertainment venues. Located at 1111 N Ocean Dr., Margaritaville Hollywood Beach Resort is located about 16.2 miles from Miami Beach and 9.6 miles from Fort Lauderdale. The resort is also about 6.4 miles from the Fort Lauderdale International Airport. Pebblebrook plans to make physical enhancements to the property …

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AcquisitionsFloridaOfficeSoutheast

TerraCap Management Sells 82,000 SF Office Building in Tampa

by Jeff Shaw

TAMPA, FLA. — TerraCap Management LLC has sold Eastpointe, a three-story, Class B office building in Tampa that totals approximately 82,000 square feet. Rick Brugge, Mike Davis, Rick Colon, Ryan Jenkins and Zach Eicholtz of Cushman & Wakefield represented the seller, TerraCap, in the transaction. TriOut Advisory acquired the property for an undisclosed price. Built in 1987, the property has a two-story parking garage. TerraCap acquired Eastpointe in March 2014 as part of a two-property acquisition. TerraCap invested capital into the roof, HVAC, parking lot, parking garage, restrooms and signage. After signing Circle K to a 10-year deal for approximately 19,000 square feet and extending the approximately 36,000-square-foot anchor tenant Pharmerica through 2025, Eastpointe reached 96 percent occupancy, and TerraCap began moving the property towards a disposition.

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City Center Crossing
AcquisitionsGeorgiaRetailSoutheast

First National Realty Partners Acquires City Center Crossing Shopping Center in Sandy Springs, Georgia

by Jeff Shaw

SANDY SPRINGS, GA. — First National Realty Partners (FNRP) has acquired City Center Crossing, a grocery-anchored shopping center located at 6331 Roswell Road in Sandy Springs, a northern suburb of Atlanta. City Center Crossing is a 98,408-square-foot asset that is 77 percent occupied. A 27,858-square-foot Lidl Supermarket that opened in May 2020 anchors the property. The seller and price were not disclosed. “We are extremely excited to not only acquire our first asset in the Atlanta Market but to also add Lidl to our portfolio, one of the most rapidly growing grocers in the country,” says Matt Annibale, senior director of acquisitions at First National Realty Partners. “The remaining vacancy in the center will provide significant upside for our investors.”

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AcquisitionsArkansasLoansMultifamilySoutheast

Colliers Mortgage Arranges $11.3M Acquisition Loan for Pointe North Hills Apartments Phase II in North Little Rock, Arkansas

by Jeff Shaw

NORTH LITTLE ROCK, ARK. — The New York office of Colliers Mortgage has arranged an $11.3 million Fannie Mae loan for the acquisition of The Pointe North Hills Phase II, an 86-unit, market-rate apartment community in North Little Rock. The pet-friendly property was constructed in 2020 and shares resort-style amenities with Phase I of the property, including a 24-hour fitness center, pool, two private movie theaters, virtual fitness studio and sports simulator lounge. The borrower is The Pointe North Hills LLC. The seller was not disclosed. The loan features a 10-year term and 30-year amortization.

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IndustrialMarket ReportsMississippiSoutheastSoutheast Market ReportsTennessee

High Demand for Memphis Industrial Leading to Another Record-Shattering Year

by John Nelson

Fueled by the acceleration of e-commerce amid the COVID-19 pandemic, the Memphis industrial market’s record-setting momentum continued into the first half of the year. Demand fundamentals are the strongest they’ve ever been, with lease transaction volume at mid-year exceeding 12.2 million square feet for the second year in a row and total market direct net absorption reaching an unprecedented 5.3 million square feet. To put these numbers in perspective, lease transaction volume and direct absorption through June of pre-pandemic years averaged 5.8 million square feet and 1.6 million square feet, respectively. The market’s direct vacancy rate has hovered around 6.5 percent since the end of 2019, an impressive feat given the exceptional amount of speculative product that has been added to inventory over the past year and a half. New to the market The region’s central location, complemented by its world-class transportation infrastructure and low rental rates, make Memphis an attractive option for industrial users. Notable deals that have occurred since the beginning of 2020 include Milwaukee Tool’s 1.1 million-square-foot lease at I-269 Industrial Park, as well as two new Amazon leases totaling nearly 2 million square feet, growing the e-commerce giant’s Memphis-area footprint to more than 6.7 million square …

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