Sunday, November 30, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Top Stories

AcquisitionsFloridaGeorgiaMultifamilyNorth CarolinaNortheastOregonPennsylvaniaSoutheastStudent HousingTexasTop StoriesVirginiaWestern

Morgan Stanley, GSA Acquire Eight-Property Student Housing Portfolio Valued at $1B

by Kristin Harlow

NEW YORK CITY — Morgan Stanley Real Estate Investing (MSREI) and Global Student Accommodation (GSA) have acquired a portfolio of eight student housing assets in Tier 1 U.S. university markets from a joint venture between a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) and Landmark Properties. The transaction is valued at more than $1 billion. The properties are located across seven states and offer a mix of cottage-style, high-rise and mid-rise formats. The 6,200-bed portfolio is nearly fully leased. Global student housing operator Yugo will manage and rebrand the newly acquired assets. The assets in the sold portfolio include: The acquisition marks the partnership’s entrance into new markets in Virginia, Georgia and Pennsylvania, while expanding its presence in Texas, Florida, Oregon and North Carolina. Through its partnership, MSREI and GSA now own nearly 24,000 student housing beds across 50 properties in 23 states. “This acquisition is testament to the depth of our global teams, our access to unique opportunities and the strength of our institutional relationships in the United States and globally. An off-market portfolio of this size and quality is rare, and demonstrates our experience and expertise in the student housing market,” says Nicholas Porter, CEO at …

Continue Reading
FacebookTwitterLinkedinEmail
Data CentersDevelopmentLoansNew YorkNortheastOfficeTop Stories

Rudin Extends $425M CMBS Loan for Tribeca Office Tower, Plans $100M Capital Improvement Program

by John Nelson

NEW YORK CITY — Rudin has extended an existing $425 million CMBS loan backed by 32 Avenue of the Americas, a 27-story office tower in Manhattan’s Tribeca neighborhood. The New York City-based owner-operator has also announced plans for a $100 million capital improvement program at the 1.2 million-square-foot Art Deco property, which also features a prominent data center/carrier hotel component. Rudin will introduce a prebuilt program of new work environments at 32 Avenue of the Americas that will range in size from 5,000 to 10,000 square feet. The company will also upgrade the building’s lobby and renovate its street-level retail space. Lastly, Rudin will create a new leasing/marketing center spanning the entire 25th floor, which also features two outdoor terraces that offer views of the Manhattan skyline. The tower’s mortgage will now mature in November 2029 should Rudin exercise both of its one-year renewal options in 2027 and 2028. Iron Hound Management Co. advised Rudin, which acquired the property in 1999 from AT&T, on the loan modification. The direct lender was not named. Rudin requested that its loan be transferred to an unnamed special servicer two months ahead of its November maturity in order to begin discussions on the loan modification. …

Continue Reading
FacebookTwitterLinkedinEmail
1072-West-Peachtree-Atlanta
DevelopmentGeorgiaMixed-UseSoutheastTop Stories

Rockefeller Group Tops Out 60-Story Mixed-Use Building in Midtown Atlanta

by Taylor Williams

ATLANTA — New York City-based developer Rockefeller Group has topped out 1072 West Peachtree, a 60-story mixed-use building in Midtown Atlanta. According to the development team, upon completion, which is set for next spring, 1072 West Peachtree will be the tallest building constructed in Atlanta in the past three decades. Plans for the building currently call for 224,000 square feet of office space across eight floors, 357 multifamily units and 6,300 square feet of ground-floor retail and restaurant space. In addition to its office and residential components, the building will offer roughly 43,000 square feet of indoor and outdoor amenities. Specific amenities will include a resort-style athletic club with strength and cardio training areas and full-service locker rooms, as well as wellness-focused offerings such as private spa treatment rooms, sauna rooms, frost lockers and recovery spaces. In addition, the club will also include an indoor Pilates studio, a private training studio and a pickleball court. Lastly, 1072 West Peachtree will feature the Sky Garden. According to the developer, The Sky Garden will be Midtown Atlanta’s largest outdoor deck, designed with seating areas for collaboration or relaxation, as well as a lawn FOR gathering, gaming and hosting events. Turner Construction is …

Continue Reading
FacebookTwitterLinkedinEmail
PNC Bank
Company NewsDevelopmentMidwestRetailSoutheastTop Stories

PNC Bank to Increase Retail Expansion to 300 New Branches in Southeast, Midwest

by Abby Cox

PITTSBURGH — PNC Bank (NYSE: PNC) plans to open more than 300 new retail bank branches by 2030, adding about 100 new branches to its earlier plan, which was announced last November. The new announcement brings PNC’s total investment in growing its retail footprint to approximately $2 billion. The latest branch expansion plan calls for new locations in markets including Nashville,  Sarasota, Fla., Winston-Salem, N.C., and Chicago to extend PNC’s expansion efforts to nearly 20 markets across the United States. “The build-out of these 300 new branches allows us to deliver our unique blend of hospitality and financial advice to more clients in more neighborhoods across the country,” says Alex Overstrom, head of retail banking at PNC. “It’s about making PNC the most convenient bank in each of these markets, ensuring we can meet people where they are and help them thrive.” As part of the investment, PNC will add 35 new branches in Nashville, along with 40 more branches across the Southeast. The cities consist of Fort Meyers, Lakeland and Sarasota in Florida, as well as Asheville, Winston-Salem and Wilmington in North Carolina. “The additional branches strengthen our ability to provide valuable resources and expertise, reflecting our commitment to supporting …

Continue Reading
FacebookTwitterLinkedinEmail
Terra-Nova_Terrell-Texas
DevelopmentMixed-UseTexasTop Stories

Main Square Development Receives Approval for $3B Master-Planned Community in Dallas-Fort Worth Metroplex

by Hayden Spiess

TERRELL, TEXAS — Main Square Development has announced that the company has received approval from the Terrell City Council for the development of Terra Nova, a new $3 billion master-planned community.  Situated roughly 30 miles east of Dallas, the development will feature 1,200 multifamily units and a 48-acre mixed-use district, as well as 3,600 single-family homes. The mixed-use component of the development will include 200,000 square feet of shops, restaurants and offices anchored by a main square.  Terra Nova will also feature 145 acres of parks and trails, including 27 neighborhood parks connected by 30 miles of biking and hiking trails, with an additional 220 acres of open natural space. The first phase will include a neighborhood pool and amenity center, and a regional amenity center will be added in a future phase.  Project plans include 15 phases over the next 20 years.  Plano, Texas-based Main Square is working with the Terrell Independent School District to identify locations for future elementary and middle schools that will ensure Terra Nova’s future residents have access to public education. The developer is also dedicating six acres for new police station and fire department facilities, in addition to one acre reserved for a new …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaLoansMultifamilySoutheastTop Stories

SCALE Lending Provides $460M in Financing for Two-Tower Apartment Project in Downtown Miami

by Kristin Harlow

MIAMI — SCALE Lending, the debt financing arm of New York City-based Slate Property Group, has provided a $460 million cross-collateralized facility on behalf of the Namdar Group for two adjacent apartment towers under development in downtown Miami. The facility will comprise a $230 million bridge loan for the completion and lease-up of 55 N.E. 2nd Street (Phase I), which contains 680 multifamily units across 358,000 square feet; and a $230 million loan for the ground-up construction of 50 N.E. 3rd Street (Phase II), which comprises 714 apartment units across 395,000 square feet. The two 43-story towers will be connected from the first through eighth floors upon completion. Phase I is slated for completion in the first quarter of 2026. Construction of Phase II commenced in September 2025, with completion estimated for spring 2028. Units range in size from studios to two-bedroom layouts. A connected garage on the second through sixth floors will include 269 parking spaces, and the ground floor will feature 7,100 square feet of retail space. Combined, the buildings will include 62,000 square feet of amenity spaces on the seventh and eighth floors to be shared by tenants of both towers. Both buildings will offer gyms, golf …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentHospitalityMixed-UseRestaurantRetailSoutheastTennesseeTop Stories

Simon to Develop 100-Acre Sagefield Mixed-Use Center in South Nashville

by John Nelson

NASHVILLE, TENN. — Simon Property Group (NYSE: SPG) plans to develop Sagefield, a 100-acre mixed-use destination that will be located on the south side of Nashville. The construction timeline for the project was not released. Situated in the hills of Williamson County, the planned project will feature lifestyle shops, restaurants and service retail spaces, as well as a landmark hotel by Author & Edit Hospitality, a hotel brand helmed by restaurateur and hotelier Sam Fox of Fox Restaurant Concepts. “This exciting new development will set a new standard for quiet luxury in metro Nashville and beyond,” says Eric Sadi, co-president of Simon’s North American real estate division. Simon is collaborating on Sagefield with Adventurous Journeys Capital Partners (AJ Capital), a Nashville-based firm that specializes in mixed-use and adaptive reuse development. Simon and AJ Capital are currently collaborating on Nashville Premium Outlets, a 325,000-square-foot outlet mall that will break ground next year in Thompson’s Station, Tenn.  Plans for Sagefield also call for first-to-market boutique retailers, household-name operators, farm-to-table restaurants and cafés, an organic market, entertainment venues and health and wellness concepts. The development’s planned hotel will offer signature restaurants, a high-end spa, sports and a social members club. Simon says that …

Continue Reading
FacebookTwitterLinkedinEmail
The-Residences-at-1428-Brickell-Miami
FloridaLoansMultifamilySoutheastTop Stories

J.P. Morgan, Sculptor Real Estate Provide $565M in Construction Financing for Downtown Miami Residential Tower

by Taylor Williams

MIAMI — J.P. Morgan (NYSE: JPM) and Sculptor Real Estate have provided $565 million in construction financing for The Residences at 1428 Brickell, a 70-story multifamily tower in downtown Miami’s Brickell Financial District. The borrower is Ytech, a locally based luxury residential development firm led by Yamal Yidios. A breakdown of the financing package was not disclosed, but J.P. Morgan is the senior lender on the project, and Sculptor Real Estate is the junior lender. Melissa Rose and Brian Gaswirth of JLL arranged the debt on behalf of Ytech. Already under construction, The Residences at 1428 Brickell will offer 195 luxury condos, with for-sale prices starting at $4.4 million. Residences will range in size from 1,800 to 4,000 square feet, with select units having two-story layouts. All residences will feature Italian-made Arclinea kitchens, Rimadesio glass partitions, carved-stone tubs and premium OptiGray® glass glazing. The development will offer penthouse units that will range in size from 4,000 to 7,000 square feet, with prices starting at $10 million . The tower will also offer two $60 million upper penthouses that feature 30-foot ceilings, seven bedrooms, nine bathrooms and two balconies facing Biscayne Bay to the east. Residents will have access to more …

Continue Reading
FacebookTwitterLinkedinEmail
Northbend Master-Plan Rendering
AcquisitionsDevelopmentGeorgiaMixed-UseSoutheastTop Stories

Third & Urban, HighBrook Investors Acquire Corporate Square in Atlanta, Plan $605M Mixed-Use Redevelopment

by Abby Cox

ATLANTA — A partnership between locally based real estate company Third & Urban and HighBrook Investors has acquired Corporate Square, a 30-acre office park in the Brookhaven area of Atlanta, with plans to redevelop the property into a $605 million mixed-use district. Patterson Real Estate Advisory Group arranged the financing for the acquisition. The project, dubbed Northbend, is moving forward after the partnership received approval to rezone the site as a master-planned development. Third & Urban is currently in the process of securing partnerships for the initial phases of vertical construction. Construction of Northbend, which is situated between Buford Highway and I-85 near the newly opened Children’s Healthcare of Atlanta Arthur M. Blank Hospital, is scheduled to commence in summer 2026. Eight obsolete office buildings will be demolished to allow for new infrastructure and improved road networks. According to the development team, Northbend is expected to generate $8.2 million in annual tax revenue for the city upon completion, while creating more than 400 construction jobs and over 300 permanent jobs. “Northbend will transform an outdated, underutilized office park into a vibrant gathering place for the Brookhaven community and beyond,” says Hank Farmer, partner at Third & Urban. “This redevelopment is a catalyst for …

Continue Reading
FacebookTwitterLinkedinEmail
Field-Building-Conversion_Chicago
DevelopmentIllinoisMixed-UseMultifamilyTop Stories

Chicago City Council Approves $241.5M Office-to-Residential Adaptive Reuse Project at Field Building

by Hayden Spiess

CHICAGO — The Chicago City Council has approved plans for an adaptive reuse project at 135 S. LaSalle St. in the city’s central business district (CBD). A joint venture between Riverside Investment & Development, AmTrustRE and DL3 Realty is developing the project, which has a total budget of $241.5 million. Financing for the development includes $98 million in city subsidies and historic tax credits.  Scheduled to begin construction in spring 2026, the project will convert 624,000 square feet of vacant office space within the 1.4 million-square-foot Field Building to modern residential units and commercial space. Upon completion, the development will feature 430,050 square feet of residential space across 386 units, as well as 92,000 square feet of commercial space. Residences will include a mix of studio, one- and two-bedroom apartments.  Commercial space at the property will house food-and-beverage offerings, a small-format grocer, health and fitness club and other amenities. “The Field Building redevelopment will bring much-needed housing and amenities to workers, visitors and a growing residential base in the city. By modernizing this landmark, the project will help reposition the Loop to attract leading corporations and top talent while bolstering Chicago’s reputation as a thriving economic and cultural destination,” says John O’Donnell, …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts