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GeorgiaLoansOfficeSoutheastTop Stories

Allen Morris Co. Receives $113.7M Loan for Refinancing of Office Tower at Star Metals District in Atlanta

by Abby Cox

ATLANTA — Allen Morris Co., a mixed-use developer based in Coral Gables, Fla., has received a $113.7 million loan from Mexico-based Banco Inbursa for the refinancing of Star Metals Offices, a 267,000-square-foot office tower in Atlanta’s West Midtown neighborhood. The transaction will retire the existing construction loan provided by Bank OZK and Barings.  “This refinancing is a testament to the quality and curation of what we have built at Star Metals Offices,” says Spencer Morris, president of Allen Morris Co. “Securing this financing package from Banco Inbursa — an institution that has become one of the most active and discerning real estate lenders in the country — reflects the caliber of our tenants, our retail program and the broader Star Metals District vision.” The 15-story office tower, which is 97 percent leased, opened in July 2021 and is the centerpiece of the $1.5 billion Star Metals District development. Tenants include Outreach, a new-to-market tech company; Nike’s regional technology hub; Signature, a leading coworking group; PrizePicks; Nelson Architecture; Brand Apart; PagerDuty; Sovos; and BMI, among others. Designed by Oppenheim Architecture and Warner Summers Architecture, Star Metals Offices features exterior balconies on each level, as well as a coffee shop, outdoor lounges/workspaces, a 5,000-square-foot rooftop restaurant …

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AcquisitionsDistrict of ColumbiaSoutheastTop Stories

U.S. Government Sells Historic Old Post Office Building, Former Trump Hotel in D.C.

by John Nelson

WASHINGTON, D.C. — The U.S. General Services Administration (GSA), the real estate operations arm of the federal government, has sold the Old Post Office building and former Trump hotel at 1100 Pennsylvania Ave. in Washington, D.C. The building currently operates as a 263-key Waldorf Astoria hotel. Bank BDT & MSD, the owner of the leasehold, acquired the property for $80 million, according to The Wall Street Journal. According to the GSA, the sale is part of an ongoing effort to eliminate costly properties from its asset portfolio. The GSA also recently sold the former Estes Kefauver Federal Building parking garage site in Nashville for $52 million. According to the administration, the Old Post Office Building cost taxpayers approximately $6 million per year prior to 2013, when it was converted into a hotel by the Trump Organization. Since then, the property has received more than $250 million in private-sector investment. “The GSA remains committed to solving long-term problems that exist in the federal portfolio of assets, reducing waste and delivering long-term value to the American people,” the GSA said in a press release. The Old Post Office features the renown 315-foot clock tower, which houses the Bells of Congress, and is the …

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DevelopmentIndustrialTexasTop Stories

TOYO to Build $357M Solar Cell Manufacturing Facility in Metro Houston

by Kristin Harlow

HOUSTON — Tokyo-based solar manufacturing company TOYO Co. Ltd. (NASDAQ: TOYO) has unveiled plans to expand its U.S. manufacturing platform by building a 1.5 gigawatt (GW) solar cell manufacturing facility that will be co-located at the company’s existing solar module site in metro Houston. The project is intended to create an integrated manufacturing hub that is expected to generate approximately 400 direct full-time manufacturing jobs. The expansion represents a total projected capital investment of approximately $357 million. Engineering, facility design and procurement planning are underway, with full project completion and initial pilot production expected within 20 months. The project will be carried out in structured phases to ensure compliance with local regulatory frameworks and permitting timelines. The facility will produce next-generation heterojunction (HJT) solar cells. Engineered for maximum yield, HJT cells utilize a technology that delivers an optimal temperature coefficient, ensuring high power production even in extreme heat, according to TOYO. By co-locating the facility with its module operations, TOYO expects to achieve operational synergies, reduce localized logistics costs and shorten the production cycle. “Expanding into domestic cell manufacturing is the natural next step in our commitment to creating an integrated onshore solar supply chain from polysilicon to panels,” says …

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Company NewsDevelopmentIndustrialNortheastOfficePennsylvaniaRetailTop Stories

Urban Outfitters to Open New Distribution Facility in Metro Philadelphia, Add 1,050 Jobs

by John Nelson

PHILADELPHIA AND FALLS TOWNSHIP, PA. — Urban Outfitters Inc. (NASDAQ: URBN), a global portfolio of apparel retail brands and physical shops that includes Urban Outfitters, Anthropologie and Free People, is making a major investment in its home market of metropolitan Philadelphia. The company has announced that it will open a new facility for its Nuuly brand in Falls Township, a city located 28 miles northeast of Philadelphia in Bucks County. According to Urban Outfitters, the new facility will create 600 jobs and work in tandem with the existing 600,000-square-foot Nuuly distribution center in Raymore, Mo., that opened in 2024. Further details about the Falls Township facility were not released. Nuuly is a monthly subscription service that lets patrons rent apparel from URBN’s various brands. According to the Philadelphia Business Journal, Nuuly represents almost 10 percent of URBN’s total net sales. In addition to the new facility, URBN plans to invest at least $150 million in capital and create 450 jobs at its global headquarters campus at the Philadelphia Navy Yard. The company has been headquartered at the former shipyard since 2006 and recently opened the 117,000-square-foot Building 16. Today, URBN employs roughly 2,500 staffers at the Navy Yard, which includes adaptive …

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IndustrialLoansTop Stories

Catalyst Investment Partners Receives $281M in Acquisition Financing for National IOS Portfolio

by Taylor Williams

NEW YORK CITY — New York City-based Catalyst Investment Partners has received $281 million in acquisition financing for a national portfolio of 77 industrial outdoor storage (IOS) properties. The properties are scattered across 12 markets, including locations in Northern New Jersey, Miami and Washington, D.C. The financing comprises separate loans provided by Blackstone Real Estate Debt Strategies and institutional investors advised by J.P. Morgan Asset Management. Justin Horowitz of New York City-based mortgage broker Cooper-Horowitz arranged the financing on behalf of Catalyst Investment Partners. The seller was not disclosed. The exact occupancy rate of the portfolio at the time of the loan closing was not disclosed, but the properties are leased to “a variety of tenants representing a diverse cross-section of industries,” according to Catalyst. These industries include equipment rental, infrastructure and e-commerce. “Our early entry into the IOS sector and proprietary data has enabled us to identify a deep opportunity set of small, flexible, low-coverage IOS properties that are situated in dense urban areas where the supply of IOS is fixed or declining, creating irreplaceable assets for occupiers and investors,” says Max Heiden, co-founder and partner at Catalyst. Heiden co-founded Catalyst in 2021 with Dan Haroun. The company currently …

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The-Meridian
AcquisitionsCompany NewsRetailTop Stories

TPG-Led Investor Group Acquires Shopping Center Owner ECHO Realty in $2B Deal

by Abby Cox

PITTSBURGH — TPG Real Estate has acquired ECHO Realty, a full-service owner and operator of grocery-anchored retail real estate, in a transaction valued at $2 billion. TPG, a global asset management firm based in San Fransisco, partnered with global investment groups PSP Investments, La Caisse and Norges Bank Investment Management for the transaction. “Our more than two decades of building and operating neighborhood, necessity-based shopping destinations demonstrate the enduring demand for grocery-anchored retail close to home,” says Thomas Karet, founder and CEO of ECHO. “With TPG’s investment and business-building expertise, we are confident ECHO is well-positioned to capitalize on demand for necessity-based shopping in key, high-performing markets.” Founded in 2000, ECHO owns and operates approximately 230 retail centers across the Midwest and Southeast U.S. markets, anchored by grocery and convenience stores such as Giant Eagle, Publix, Harris Teeter, Safeway, ACME Markets, Whole Foods Market and Alimentation Couche-Tard (GetGo). Since inception, the Pittsburgh-based company has acquired and developed more than 16 million square feet of neighborhood and regional centers. Notable shopping centers and properties owned by ECHO Realty include: The TPG-led investor group will partner with ECHO’s management team to scale the business across existing and new markets, while advancing acquisition …

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AcquisitionsMarylandOfficeSoutheastTop Stories

Roadside Development, Hudson Bay Capital Acquire 600,000 SF Office Complex in Bethesda, Maryland

by John Nelson

BETHESDA, MD. — Development and investment firm Roadside Development and global alternative asset manager Hudson Bay Capital have acquired Bethesda Towers, an office campus situated in downtown Bethesda. The sales price was not disclosed, but the Washington Business Journal reports that the complex had an assessed property value of roughly $86 million, according to records with the State of Maryland. Moore & Associates sold the property and will continue to oversee property management on behalf of the new ownership. Moore & Associates acquired Bethesda Towers, which was originally built in the 1970s, in 2005.  Totaling roughly 600,000 square feet, the campus comprises three office buildings and is walkable to attractions including Bethesda Row, the Capital Crescent Trail and the Bethesda Metro Station. The buyers plan to reposition the development over time but did not release any specific plans.  “The Bethesda Towers campus presents a large-scale parcel with the potential to become a unique and transformative place at the gateway to Bethesda,” says Jeff Edelstein, president of Roadside. “We’ve had our eye on the property for quite some time, and it will be a great collaboration with our partners at Hudson Bay Capital.” Mychael Cohn of Cohn Property Group represented Roadside in the …

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AcquisitionsCaliforniaGeorgiaIndustrialSoutheastTexasTop StoriesWashingtonWestern

BKM, Kayne Anderson Acquire 8.5 MSF Light Industrial Portfolio for $1.8B

by Kristin Harlow

NEWPORT BEACH, CALIF. AND BOCA RATON, FLA. — BKM Capital Partners and Kayne Anderson Real Estate have acquired an 8.5 million-square-foot light industrial portfolio from Link Logistics for $1.8 billion. The portfolio includes 51 multi-tenant properties across markets in California, Washington, Texas and Georgia. The deal marks the largest light industrial transaction since 2022, according to the joint venture partners, which now maintain roughly 15 million square feet of multi-tenant light industrial assets under management. The portfolio is approximately 90 percent occupied and consists of nearly 2,000 units across 275 buildings, all located in infill submarkets within high-growth metropolitan areas. “At Kayne Anderson Real Estate, we continue to focus on sectors where we see durable demand drivers and the opportunity to create value through scale, vertical integration and operational expertise,” says Al Rabil, co-founder and CEO of Kayne Anderson Real Estate. “Multi-tenant light industrial remains a highly fragmented segment with compelling fundamentals.” “This acquisition marks the largest addition to BKM’s platform to date and is representative of the strategy we have deployed in the multi-tenant light industrial space for years,” says Brian Malliet, founder, CEO and chief investment officer of BKM. “It not only underscores the importance of deep operating …

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AcquisitionsFloridaIndustrialNorth CarolinaSouth CarolinaSoutheastTop StoriesVirginia

JLL Arranges $300M Sale of Southeast Industrial Portfolio Net-Leased to FedEx

by John Nelson

ATLANTA — JLL has arranged the $300 million sale of a six-property industrial portfolio located across five Southeastern states. The facilities in the nearly 1.6 million-square-foot portfolio were fully net-leased to FedEx on long-term agreements at the time of sale. Built between 2022 and 2023, the facilities range in size from 251,000 to 337,000 square feet. The properties are located in Punta Gorda, Fla.; Anderson, S.C.; Myrtle Beach, S.C.; Christiansburg, Va.; Bristol, Va.; and Wingate, N.C. PGIM and Miramar Capital sold the portfolio to a confidential buyer. Britton Burdette, Dennis Mitchell, Luis Castillo, Bill Prutting, Jim Freeman, Maggie Dominguez and Bobby Norwood of JLL represented the sellers in the transaction. “The scale and geographic diversification of this portfolio reflect the critical role last-mile distribution plays in today’s logistics landscape,” says Burdette. “PGIM positioned these assets to capitalize on accelerating demand for modern industrial space in markets with strong population growth and consumer spending fundamentals.” PGIM is the global asset management business of Prudential Financial Inc. (NYSE: PRU) and has $1.4 trillion in assets under management as of March 31, 2026, including $217 billion in real estate assets. Miramar Capital is a privately owned real estate investment and development firm specializing in …

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Daitch-Pull-Quote
Data CentersDevelopmentIndustrialLoansTexasTop Stories

Rowan Digital Infrastructure Receives $3B in Construction Financing for Data Center Campus in Temple, Texas

by Taylor Williams

TEMPLE, TEXAS — Rowan Digital Infrastructure, a Denver-based data center owner-operator backed by Blackstone (NYSE: BX), has received $3 billion in construction financing for a new, 700-acre hyperscale campus in the Central Texas city of Temple. The facility could account for the creation of approximately 600 construction jobs and up to 40 permanent jobs. Rowan broke ground on the first phase of the 300-megawatt (MW) project earlier this year and expects construction to last 12 to 18 months. The names of the debt providers were not disclosed, but local media outlet KDH News reports that the deal represents “the largest financing transaction in the company’s history” since its founding in late 2020. According to the Temple Daily Telegram, the campus is located at 1855 Bob White Road on the city’s east side and has a Phase I price tag of $700 million. The local publication also reports that the site will not require the development of additional electrical infrastructure and that the facility will have a water recirculation system that will reduce stress on the regional water supply. “Securing this financing is a major moment for Rowan and reflects a significant level of trust from the industry’s largest capital providers,” says …

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