Southeast

JLL Arranges $26M Construction Loan for 132-Unit Build-to-Rent Community in Wildwood, Florida

by Abby Cox July 18, 2025

WILDWOOD, FLA. — JLL Capital Markets has arranged a $26 million construction take-out bridge loan for Magnolia at Powell, a newly constructed, 132-unit build-to-rent residential community in Wildwood, roughly 50 miles outside Orlando. Max La Cava, Melissa Quinn, Bob Rothaug and Jade Starkey of JLL’s Debt Advisory team arranged the three-year, floating-rate loan on behalf of the borrower, Agador Spartacus Development, through a domestic investment management firm and its international mezzanine debt partner. Completed in January 2025, Magnolia at Powell is situated just outside of The Villages and is currently 40 percent occupied. The complex, which is an age-inclusive housing option, offers one-, two- and three-bedroom townhomes averaging 1,162 square feet in size. Amenities include a resort-style swimming pool, fitness center, pickleball court and a dog park. Monthly rental rates for a one-bedroom townhome at Magnolia at Powell begin at $1,350, according to Apartments.com.

July 18, 2025

Acquisitions Georgia Industrial Loans Southeast

Lightstone Capital Provides $8.5M Acquisition Loan for Industrial Property in Southwest Atlanta

by Abby Cox July 18, 2025

ATLANTA — Lightstone Capital has provided an $8.5 million loan for the acquisition and lease-up of a 207,000-square-foot light manufacturing building located at 3200 Lakewood Ave. SW in Atlanta. Green Dock Partners was the borrower. Situated near Hartsfield-Jackson Atlanta International Airport on a 7.2-acre site, the single-story facility features 29-foot clear heights and multiple dock-high doors.

July 18, 2025

Acquisitions Florida Net Lease Retail Southeast

SRS Negotiates $4.5M Ground Lease Sale of Central Florida Retail Property Leased to Walmart

by Abby Cox July 18, 2025

DELTONA, FLA. — SRS Real Estate Partners has negotiated the $4.5 million ground lease (land ownership) sale of a retail property located at 1569 Saxon Blvd. in Deltona. The property is situated 30 miles north of Orlando within the mixed-use development of Deltona Village, which is currently under construction. Walmart occupies the 41,335-square-foot retail property on an absolute triple-net-lease with 10 years remaining on its lease term. Patrick Nutt and William Wamble of SRS Real Estate represented the seller, a private partnership, in the transaction. The Pennsylvania-based private buyer was a repeat client of SRS.

July 18, 2025

Acquisitions Mississippi Multifamily Southeast

Marcus & Millichap Brokers Sale of 164-Unit Apartment Community Near Mississippi State University

by Abby Cox July 18, 2025

STARKVILLE, MISS. — Marcus & Millichap has brokered the sale of The Grove Apartments, a 164-unit community located in Starkville near Mississippi State University. Originally built in 1975, the property is situated on 10 acres and features a mix of one-, two- and three-bedroom floorplans ranging in size from 704 square feet to 1,028 square feet, according to ForRent.com. Amenities include laundry facilities and a dog park, as well as onsite management and maintenance. Josh Jacobs and Lloyd Escue of Marcus & Millichap marketed the property on behalf of the seller, MRKT Capital, and procured the buyer, Emerald City Associates, in the transaction. Mickey Davis was the firm’s broker of record in Mississippi.

July 18, 2025

Georgia Leasing Activity Office Southeast Top Stories

Rivian Selects Atlanta for New East Coast Headquarters, Plans 500 Jobs Near the BeltLine

by Kristin Harlow July 18, 2025

ATLANTA — Electric vehicle (EV) manufacturer Rivian has selected Atlanta for its new East Coast headquarters. Rivian will occupy the top floor and lobby of Portman Holdings’ Junction Krog Street office building, which is located at 667 Auburn Ave. NE along the Atlanta BeltLine’s Eastside Trail. The office, which will span approximately 45,000 square feet, is expected to open in late 2025 and will house roughly 500 employees upon full build-out. Portman delivered Junction Krog Street in fall 2023. Situated near the popular Krog Street Market food hall in the city’s Inman Park neighborhood, the mixed-use building features 135,000 square feet of creative office space, a rooftop deck, outdoor balconies on every level and ground-level retail space housing eateries Yuji, Brash Coffee and YEPPA&co. The headquarters will operate within a short drive to Rivian’s new $5 billion EV production facility situated within the 1,600-acre master-planned community of Stanton Springs North near Social Circle, Ga. Construction of the 7,500-person manufacturing plant is expected to begin in 2026. Rivian received financing from the U.S. Department of Energy’s Advanced Technology Vehicle Manufacturing Loan Program for the manufacturing facility, which will build the R2, a midsize SUV, and the R3, a midsize crossover. The …

July 18, 2025

Kentucky Loans Seniors Housing Southeast

MonticelloAM Provides $218M Financing for Skilled Nursing Portfolio in Kentucky

by John Nelson July 17, 2025

NEW YORK CITY — MonticelloAM has provided $218 million in financing for a skilled nursing portfolio in Kentucky. Comprising 18 facilities, the portfolio totals 1,500 beds across the commonwealth. In addition to a $179.3 million senior bridge loan and a $29 million mezzanine loan, which the undisclosed borrower plans to use to restructure and upsize existing debt, the financing includes a $10 million working capital line of credit that will be used to cover the day-to-day operational needs of the facilities. New York City-based MonticelloAM originally financed the portfolio in May 2024.

July 17, 2025

Acquisitions Development Maryland Mixed-Use Multifamily Retail Southeast

EYA Buys Vacant Shopping Center in Metro D.C., Plans Residential Conversion

by John Nelson July 17, 2025

ROCKVILLE, MD. — Locally based EYA has purchased Rockshire Village Center, a long-vacant shopping center located on a 7.3-acre site in Rockville, a suburb of Washington, D.C. The firm plans to convert the retail center into a walkable residential neighborhood comprising 60 residential units (31 single-family detached homes and 29 townhomes), as well as 5,200 square feet of commercial/retail space and a community gathering space. Fifteen percent of the residences will be designated as moderately priced dwelling units. Public features of the new neighborhood will include a park, playground, open lawn with seating and recreation areas, pedestrian-friendly streetscape with connections to Rockshire Community Pool and the Carl Henn Millennium Trail, 29 parking spaces for the pool and sitewide landscaping. EYA plans to begin construction in August, with final completion planned for 2027.

July 17, 2025

Development Healthcare Southeast Virginia

Partnership Breaks Ground on 87,790 SF Medical Office Building in Midlothian, Virginia

by John Nelson July 17, 2025

MIDLOTHIAN, VA. — A partnership between Remedy Medical Properties, Kayne Anderson Real Estate and Bon Secours has broken ground on a new three-story, 87,790-square-foot medical office building (MOB) in Midlothian, a suburb of Richmond. The healthcare property will sit on a 7.8-acre site on the campus of Bon Secours St. Francis Medical Center. The new MOB will feature an 11,193-square-foot ambulatory surgery center that Compass Surgical Partners will operate. The design-build team for the new facility includes architect PSH Plus, general contractor Kjellstrom & Lee and civil engineer Timmons. The development team expects to complete the project in late 2026.

July 17, 2025

Acquisitions Florida Retail Southeast

O’Connor Capital Buys Shopping Center in Delray Beach, Florida for $28.8M

by John Nelson July 17, 2025

DELRAY BEACH, FLA. — O’Connor Capital Partners has purchased Delray Corner, an 86,000-square-foot retail center located in Delray Beach, roughly eight miles north of Boca Raton, for $28.8 million. Situated on 9 acres, Michaels and CVS anchor the center, which was 96 percent leased at the time of sale. Other tenants include Hacienda Mexican Restaurant, Enterprise Rent-A-Car, Power Financial Credit Union and Taso’s Greek Taverna & Bar. Originally constructed in 1981, the property underwent significant repositioning in 2023 for the addition of the Michaels store and a Conviva Care center, as well as the construction of a new Starbucks Coffee outparcel. Douglas Mandel and Zach Levine of Marcus & Millichap’s Fort Lauderdale office represented the seller, Berta Management, and procured the buyer in the transaction.

July 17, 2025

Development North Carolina Office Southeast

Dole Food Selects Swinerton to Build-Out New U.S. Headquarters in Charlotte

by John Nelson July 17, 2025

CHARLOTTE, N.C. — Dole Food Co. has selected Swinerton for the build-out of its new U.S. headquarters within One South, a 40-story office tower in Uptown Charlotte. Charlotte-based Redline Design Group designed Dole’s office environment, which features 57 private offices, five huddle rooms, a conference room, wellness room, café, coffee bar and several lounges with a renovated elevator lobby. Dole is moving from an office about a block away, which the Irish company has occupied since moving its U.S. operations from California in 2019. The office interior build-out at One South has begun, with completion anticipated for the fall. Dole’s office comprises the whole sixth floor (23,000 square feet), which is approximately 30 percent larger than its existing footprint. Last year, Swinerton completed the demolition of the top four floors of One South, a $1 million project encompassing 88,000 square feet.

July 17, 2025

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