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JLL Brokers Sale of 552,550 SF Office Complex in Houston’s Galleria District

2026-10-02T15:32:02Z

HOUSTON — JLL has brokered the sale of Park Towers, a 552,550-square-foot office complex in Houston’s Galleria district. Park Towers comprises two 18-story buildings that were built in 1972 and renovated between 2016 and 2022. Amenities include a fitness center, tenant lounge with a game room, conference facilities, executive boardroom and a full-service deli. Rick Goings, Kevin McConn and Jonathan Napper of JLL represented the seller, Regent Properties, in the transaction. Susan Hill, also with JLL, led the team that arranged acquisition financing for the deal through Morgan Stanley on behalf of the buyer, Interra Capital Group. Park Towers was 89.5 percent leased at the time of the loan closing to tenants such as tax firm Ryan and Huntington Bank. The new ownership has tapped Transwestern to lease the property.

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Concord Summit Arranges $50M in Construction Financing for Fort Worth Multifamily Project

2026-10-02T15:28:39Z

FORT WORTH, TEXAS — Concord Summit Capital, a South Florida-based intermediary, has arranged $50 million in construction financing for Vic Centre Apartments, a 268-unit multifamily project in Fort Worth. Vic Centre will be located on the city’s east side and will consist of nine three-story buildings that will house studio, one- and two-bedroom units. Specifics on the “premium” amenity package were not disclosed. David Larson and Keegan Burger of Concord Summit Capital arranged the financing, which includes both senior and mezzanine debt that was structured with an 80 percent loan-to-value ratio, on behalf of the sponsor, a partnership between Summa Terra Ventures and M13 Construction. The direct lender was not disclosed. Construction is underway and expected to be complete within 24 months.

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Partnership Acquires 322-Unit Apartment Community in Denton, Texas

2026-10-02T15:17:38Z

DENTON, TEXAS — A partnership between Connecticut-based Spirit Investment Partners and Strategic Value Partners, which also operates out of Connecticut, has purchased Resia Rayzor Ranch, a 322-unit apartment community in the North Texas city of Denton. Built in 2024, Resia Rayzor Ranch consists of two buildings on a 3.1-acre site. Units come in one-, two- and three-bedroom floor plans and have an average size of 792 square feet. Amenities include a pool, fitness center, pickleball and basketball courts, outdoor grilling and dining stations, coworking space and package lockers. Miami-based Resia previously owned the property, which was acquired as part of a two-property portfolio deal that included a 573-unit community in Houston. Jamie Leachman and Carter Wroblewski of JLL arranged acquisition financing for the deal through Oaktree Capital Management.

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BLS: U.S. Economy Adds 29,000 Jobs in September, Falling Short of Expectations

2026-10-02T15:14:04Z

WASHINGTON, D.C. — The U.S. Bureau of Labor Statistics (BLS) has reported that the U.S. economy added 29,000 jobs in September. This figure falls short of the roughly 84,000 new jobs estimated for the month by Dow Jones economists, according to CNBC. Meanwhile, the U.S. unemployment rate has slightly increased to 4.2 percent. The BLS has also downwardly revised the July job gains from +21,000 to -10,000 and the August gains from +162,000 to +133,000, totaling 60,000 fewer jobs than previously reported in those two months. The health care sector continued its upward trend in September (+17,000), but at a slower pace than the average monthly gain over the prior 12 months (+33,000), with gains in ambulatory health care services (+13,000) and in hospitals (+12,000). Meanwhile nursing and residential care facilities lost jobs (-9,000). Employment in construction changed little in September (+11,000), as the industry has averaged an increase of 10,000 jobs per month over the prior 12 months. Employment in nonresidential specialty trade contractors added +12,000 jobs. Manufacturing employment is up by 72,000 since a recent low in December 2025, while adding 9,000 jobs in September. Over the month, employment increased in plastics and rubber products manufacturing (+5,000) and machinery…

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Cedarwood Cos. Breaks Ground on 272-Unit Multifamily Project in Celina, Texas

2026-10-02T15:07:51Z

CELINA, TEXAS — Cedarwood Cos., an Ohio-based developer, has broken ground on Topaz at Light Farms Way, a 272-unit multifamily project in the North Texas city of Celina. The property will offer studio, one- and two-bedroom units, and amenities will include a pool, fitness center, dog park, playground, car care center and access to walking trails and green spaces. Cedarwood’s in-house general contracting team is handling construction of the project. The first residences are expected to be available for occupancy next summer.

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Driftwood Capital, MRC Fund Refinancing of Boston Residential Hotel

2026-10-02T14:59:39Z

BOSTON — Miami-based Driftwood Capital and New York City-based Madison Realty Capital (MRC) have funded the refinancing of a 147-unit residential hotel in Boston’s Back Bay neighborhood. The amount(s) was not disclosed. The Raffles Boston Hotel & Residences opened in fall 2023 and offers a mix of residential-style guestrooms and suites. Guests have access to a wellness center with a pool, spa and fitness center, as well as three onsite restaurants and bars and butler service. The borrower is London-based investment firm Cain.

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Sterling Organization Nears Completion of 100,000 SF Industrial Project in The Bronx

2026-10-02T14:57:11Z

NEW YORK CITY — West Palm Beach-based developer Sterling Organization is nearing completion of a 100,000-square-foot industrial project in the Hunts Point neighborhood od The Bronx. The facility at 307 Bruckner Blvd. comprises 46,000 square feet of covered fleet parking and storage space beneath a 46,000-square-foot warehouse that has a clear height of 36 feet, as well as an 8,200-square-foot mezzanine space. Additional features include four loading docks, two drive-in doors and future expansion capabilities. JLL is marketing the facility for lease.

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JLL Brokers Sale of 81,000 SF Industrial Building in Rockaway, New Jersey

2026-10-02T14:53:54Z

ROCKAWAY, N.J. — JLL has brokered the sale of an 81,000-square-foot industrial building in the Northern New Jersey community of Rockaway. The shallow-bay building at 385 Franklin Ave. features a clear height of 22 feet, 13 dock doors and an average suite size of 7,400 square feet. Nicholas Stefans, Jason Lundy and Luke Ceccoli of JLL represented the seller, LM Real Estate Partners, in the transaction. NorthBridge Partners acquired the facility for an undisclosed price.

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NEPCG Negotiates $6.1M Sale of Apartment Complex in New Haven, Connecticut

2026-10-02T14:47:09Z

NEW HAVEN, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the $6.1 million sale of Norton Pointe, a 61-unit apartment complex in New Haven. According to Apartments.com, the property was built in 1900 and offers one-, two- and three-bedroom units that range in size from 700 to 1,050 square feet. Brad Balletto and Derek Mahabir of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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KeyBank Provides $92.9M in Financing for Affordable Housing Development in Los Angeles

2026-10-02T14:24:53Z

LOS ANGELES — KeyBank Community Development Lending and Investment (CDLI) has provided $92.9 million in financing for Broadway & Imperial, a new affordable housing development in South Los Angeles. The financing package includes a $43.8 million construction loan and an $18.1 million federal Low-Income Housing Tax Credit (LIHTC) equity investment from KeyBank CDLI. Key Commercial Mortgage Group arranged a $31 million Fannie Mae permanent loan, and KeyBanc Capital Markets underwrote a $31 million public bond issuance as part of the financing structure. Developed by SoLa Impact, Broadway & Imperial will feature 164 affordable apartments and two manager units that will be housed within four- and five-story buildings. Residents will have access to a range of amenities, including a lobby, rooftop deck, community room and three landscaped courtyards. Supportive services will be provided onsite by LifeSTEPS and will include educational, financial literacy, health and wellness and counseling services. Additionally, residents will have access to programs offered by the SoLa Foundation, including opportunities available through the SoLa Tech & Entrepreneurship Center Powered by Riot Games. Matthew Haas and Eileen Tran of KeyBank CDLI, along with Shana Daby of Key Commercial Mortgage Group, arranged the financing. Alex Stekler of KeyBanc Capital Markets marketed…

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JLL Arranges Equity Placement for 217-Unit Multifamily Development in Bluffdale, Utah

2026-10-02T14:36:50Z

BLUFFDALE, UTAH — JLL Capital Markets has arranged an equity placement for a multifamily development at 15580 Plentiful Way in Bluffdale, located south of Salt Lake City. Chris Gandy, Kevin Barron and Ellie Savage of JLL Capital Markets’ Equity Advisory represented the developer, Six Ridge Partners, in the equity placement. Situated within the master-planned Independence at the Point community, the five-story, midrise building will feature 217 apartments in studio, one-, two- and three-bedroom layouts, with an average unit size of 792 square feet. Community amenities will include a pool, spa, clubhouse, fitness center, coworking lounge, theater, game room and a rooftop deck. The average monthly rent is projected at $1,558.

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DPI Retail Sells Main Street Marketplace in El Cajon, California for $17.5M

2026-10-02T14:29:56Z

EL CAJON, CALIF. — DPI Retail has sold Main Street Marketplace, a grocery-anchored shopping center in El Cajon, located in San Diego County, for $17.5 million. The buyer, an entity doing business as First Corner LLC, is the owner of Manolo Farmers Market, which has anchored the property since 1988. Enrique Wong of Marcus & Millichap, along with Tom Lagos, Patrick Toomey and Jose Carrazana of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller in the deal. Built in 1979 at 1045-1099 E. Main St., Main Street Marketplace offers 75,328 square feet of retail space. Other tenants includes Bellus Academy, D C Cleaners, Fresh Up Barber Shop, Total Vision El Cajon, Boost Mobile, Freeway Insurance and El Cajon Eco Laundry. At the time of sale, Main Street Marketplace was 94.7 percent occupied, with dd’s Discounts accounting for two-thirds of the gross leasable area.

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DAUM Commercial Negotiates Sale of 29,932 SF Industrial Warehouse in Santa Ana, California

2026-10-02T14:41:08Z

SANTA ANA, CALIF. — DAUM Commercial Real Estate Services has negotiated the off-market sale of an industrial warehouse facility in Santa Ana. Mike Barreiro, Devin Ray, Zack Homsy, David Freitag, Ben Andrews and Sam Andrews of DAUM represented the seller and procured the buyer, a global retailer and e-commerce wholesaler of currency collectibles and numismatic supplies, in the deal. Located at 3102 W. Adams St., the freestanding buildings features 29,932 square feet of manufacturing and distribution space on 1.6 acres zoned M-1 (light industrial). The property includes 3,000 square feet of office space, 20-foot clear heights, four truck-high loading positions, two ground-level loading doors and 45 parking spaces.

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BWE Arranges $42.5M Loan to Refinance Historic Baggage Building in Nashville

2026-10-02T13:33:01Z

NASHVILLE, TENN. — BWE has arranged a $42.5 million loan to refinance the historic Baggage Building, a 61,000-square-foot office and retail property located at 111 10th Ave. S near Nashville’s Gulch district. Nick Harb of BWE secured the financing through a regional bank on behalf of the borrower, DZL Properties. The loan features a “meaningful” interest-only payment period. The Baggage Building was originally built between 1898 and 1900 as part of the Louisville-Nashville Railroad/Union Station terminal complex used to handle luggage and freight. Renovated in 1999, tenants at the four-story property include Pinnacle Bank, The Finch Grill & Raw Bar and Global Medical Research.

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Capstone Begins Construction on 275-Unit Adaptive Reuse Apartments in Spartanburg, South Carolina

2026-10-02T13:29:47Z

SPARTANBURG, S.C. — Capstone Building Corp. has begun construction on Beaumont Mill, a 275-unit multifamily project located at 553 Ison St. in Spartanburg. The $51 million development, which is designed to tie in modern and industrial features of the former textile mill, is scheduled for completion in 2028. A joint venture between Greenville, N.C.-based Taft Family Ventures and a local Spartanburg group will own and develop the project. Taft Management Group will handle property management services, with leasing set to start in the third quarter of 2027. Beaumont Mill will encompass 208,625 square feet of rentable space, with one-, two- and three-bedroom floorplans. Approximately 10 percent of the apartments will be reserved for workforce housing. Amenities at the complex will include a gym and a central courtyard with a swimming pool and gathering area. The project team includes Reese Vanderbilt & Associates (architect) and Site Design Inc. (civil engineer).

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IPA Negotiates Sale of 85,514 SF Shopping Center Near D.C

2026-10-02T13:27:58Z

CAPITOL HEIGHTS, MD. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Coral Hills, an 85,514-square-foot shopping center located in Capitol Heights, roughly 10 miles from downtown Washington, D.C. David Crotts and Dean Zang of IPA represented the seller, a national investment management company, and procured the undisclosed buyer. The sales price was also not disclosed. Jared Cassidy of Marcus & Millichap Capital Corp. (MMCC) arranged the financing through an international bank on behalf of the buyer. International grocer New Grand Mart will replace the former Shoppers Food anchor at Coral Hills, which was built in 1988 on more than six acres. The property features a mix of inline tenants including national retailers, medical and professional service providers and casual dining concepts.

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KAI Build, Revive Capital to Transform Former 7UP Headquarters in Metro St. Louis into Apartments

2026-10-01T16:04:54Z

CLAYTON, MO. — KAI Build is leading construction on the $55 million transformation of the former 7UP headquarters in downtown Clayton into a residential development with 118 apartment units. Located at 121 S. Meramec Ave. near Shaw Park, the 11-story building served as 7UP’s world headquarters from the mid-1960s through the late 1970s. After 7UP relocated to Dallas, St. Louis County purchased the property in 1988 to house its World Trade Center. The building later remained vacant for more than a decade. A group led by Kansas City-based Revive Capital Development headed by developer Michael Knight purchased the property in September 2026 with plans to transform it into a residential development named The Upton. Architect Chris Cedergreen is working in collaboration with Kent Wagster of HDA Architects on the project, which will feature a mix of luxury studio, one- and two-bedroom units. Amenities will include a fitness center, clubroom, heated outdoor spa, entertainment and theater spaces, billiards, multiple fireplaces, a dog wash, private resident speakeasy, game room, outdoor kitchens, fire pits and a private dog park. Octagon Finance is partnering on the project, providing a $48.3 million unitranche construction loan, including historic tax credits. A groundbreaking ceremony is scheduled for…

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Newmark Negotiates 157,642 SF Office Lease for AT&T in Southfield, Michigan

2026-10-01T19:18:27Z

SOUTHFIELD, MICH. — Newmark has negotiated a 157,642-square-foot office lease for AT&T at Travelers Tower II, a 13-story office building in Southfield. Daniel Canvasser and J.P. Champine of Newmark represented the landlord, Time Equities Inc., which completed extensive capital improvements. AJ Weiner and Dave MacDonald of JLL represented the tenant. Travelers Towers comprises two interconnected office buildings totaling 810,460 square feet. Tenants include Lucid Motors, R1, MetLife, Willis Towers Watson, RXO and S&P. Roughly 33,786 square feet remains available for lease.

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Draper and Kramer Arranges Two Loans Totaling $27.5M for Chicago-Area Multifamily, Distribution Properties

2026-10-01T19:18:34Z

CHICAGO AND BRIDGEVIEW, ILL. — Draper and Kramer Inc. has arranged two loans totaling $27.5 million. The transactions include a $13.5 million loan to finance the acquisition of a three-building industrial complex in Bridgeview, a southwest suburb of Chicago, and a $14 million bridge loan for a 56-unit multifamily property in Chicago’s Edgewater neighborhood. Dan Freedman and Chris Beck of Draper and Kramer’s Commercial Finance Group arranged the loans. The distribution center serves as the headquarters for Chicagoland Quad Cities Express. A joint venture between Curtis Ashton Partners and Burnham Industrial Partners was the borrower. A correspondent life insurance company provided the loan. The newly constructed multifamily property is located at 1101 W. Berwyn Ave. Draper and Kramer secured the bridge loan on behalf of the developer with a two-year initial term and an option to extend for an additional three years.

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Eleven New Tenants Join RiverTown Crossings Shopping Mall in Grandville, Michigan

2026-10-01T15:56:35Z

GRANDVILLE, MICH. — Eleven new tenants are joining RiverTown Crossings in Grandville. The leases total 33,208 square feet. Throw it Back Dirty Soda opened its first permanent storefront Aug. 15 on the lower level next to Vito’s Sports Shop. Opening Nov. 15, Sweet Kisses Bakery will be located on the second level near JC Penney. Coming this fall are Addiour Perfume, Summit Comics and Games, Katie’s Heart & Home, Ventrora Perfume, Kako Claw and Cell Repair Xpert. MooZoo Slime Shop has a grand opening scheduled for Thursday, Oct. 17. Opening in winter 2026 are JD Sports and Snack’d. RiverTown Crossings is an indoor shopping and entertainment destination in west Michigan.

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