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Alta Bethpage
DevelopmentMultifamilyNorth CarolinaSoutheast

Wood Partners Breaks Ground on 336-Unit Multifamily Community in Durham, North Carolina

by Abby Cox

DURHAM, N.C. — Woods Partners has broken ground on Alta Bethpage, a 336-unit multifamily community in Durham. The development is slated for completion in the first quarter of 2027. Situated between Research Triangle Park and Brier Creek, the project will offer one-, two- and three-bedroom floorplans. Amenities at the property will include a swimming pool, clubhouse, pet spa, disc golf course, walking trails and two dog parks. Alta Bethpage will be Wood Partners’ fourth project to commence construction in Durham in recent years.

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The View at 777
AcquisitionsMultifamilySoutheastVirginia

Cushman & Wakefield | Thalhimer Arranges $8.9M Sale of The View at 777 Apartments in Salem, Virginia

by Abby Cox

SALEM, VA. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has arranged the $8.9 million sale of The View at 777, a 72-unit multifamily community located in Salem. Situated at 777 Roanoke Blvd., the complex offers one-, two- and three-bedroom floorplans ranging in size from 579 square feet to 979 square feet. Resident amenities at the property include a playground, grill, picnic area and a dog park. Clay Taylor of Thalhimer, in conjunction with Jorge Rosa and Anthony Liberto of Cushman & Wakefield’s Mid-Atlantic Advisory team, represented the seller, an entity doing business as Caroline Forest LLC, in the transaction. The buyer was an entity doing business as 777 Salem LLC.

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District Center
District of ColumbiaLeasing ActivityOfficeSoutheast

ADEA to Relocate D.C. Headquarters to District Center

by Abby Cox

WASHINGTON, D.C. — The American Dental Education Association (ADEA) has signed a lease to relocate to the District Center at 555 12th St. NW in Washington, D.C. ADEA will occupy approximately 30,000 square feet, which is half of the fourth floor, beginning in the first quarter of 2026. ADEA’s headquarters is currently located at the Association of American Medical Colleges (AAMC) at 655 K St. NW in D.C. Andy Eichberg, Matt Pacinelli and John Klinke of Stream Realty Partners represented the landlord in the lease transaction. Susan Thomas and Thomas Brown of CBRE represented ADEA.  District Center, owned by a joint venture between MetLife Investment Management and Norges Bank Investment Management, offers 850,000 square feet of office space and is 95 percent leased, with up to 6,500 square feet still available for lease. Amenities at the property include an atrium lounge, fitness center with group and personal training options, lockers, showers, ample bicycle storage and a rooftop sky lounge that spans 3,391 square feet with outdoor terraces. Retail and restaurant tenants at the center include Ristorante TOSCA, Celadon Spa & Salon, Saks OFF Fifth, Nordstrom Rack and Potbelly Sandwich Shop.

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FloridaMarket ReportsMultifamilySoutheastSoutheast Market Reports

South Florida Is a Magnet for Multifamily Owners, Investors and Lenders

by John Nelson

South Florida remains one of the most attractive markets for multifamily investment in the United States, driven by population growth, job creation and limited rental supply. While 2024 saw slower transaction volumes, fundamentals suggest a rebound is coming in 2025.  This article explores trends in investment sales, debt capital markets and joint venture (JV) equity, highlighting how strategic structuring and strong relationships are driving activity in today’s selective capital environment. Poised for sales growth Miami’s multifamily market continues to thrive, fueled by population growth, high rental demand and major developments. The city’s job market, with an unemployment rate of just 2.4 percent, is expected to grow by over 18,000 positions in 2025. Corporate expansions — like Citadel, MSC Group, Nvidia, Microsoft and Shopify — have driven demand for luxury rentals, while vacancy rates remain under 5 percent. With home prices rising over 70 percent in the past five years and mortgage rates more than doubling, homeownership is out of reach for many. As a result, demand for luxury rentals remains strong, especially in suburban areas where transit-oriented developments are emerging. One standout is Terra’s $1 billion Upland Park in West Miami-Dade County. In partnership with the county, the project includes …

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office-to-residential-conversion
DevelopmentDistrict of ColumbiaMultifamilyOfficeSoutheast

Henderson Park, Lowe Commence Office-to-Residential Conversion Project in D.C.

by Abby Cox

WASHINGTON D.C. — A joint venture between Henderson Park and Lowe has broken ground on an office-to-residential conversion project at 1250 Maryland Ave. in Washington, D.C. The project team includes architect Beyer Blinder Beller, interior designer KTGY, general contractor Balfour Beatty and landscape architect Oehme, van Sweden | OvS. Deutsche Bank provided a $180 million construction loan for the project.  Built in 1992, the former Portals I development is an eight-story, 536,000-square-foot office building that will be transformed into an 11-story, 658,000-square-foot apartment complex. The additional three floors will be integrated into the building design to create large patios on the ninth and 11th floors. The 428-unit complex will also include 53,000 square feet of supporting retail and commercial space, as well as 428 parking spaces. Amenities at the development will include a rooftop resort-style terrace and swimming pool, resident lounge and coworking spaces, a two-story fitness center and dining and personal services offered on the ground floor. The redeveloped building has also been designed to meet LEED Gold specifications.

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Markley + Main
DevelopmentMultifamilySouth CarolinaSoutheast

SunCap, Peakline Break Ground on Markley + Main Apartment Community in Greenville

by Abby Cox

GREENVILLE, S.C. — SunCap Property Group, in partnership with Peakline Real Estate Funds, has broken ground on Markley + Main, a 277-unit apartment community located in Greenville’s West End. Cline Design Associates and McMillan Pazdan Smith Architecture are designing the project, and C. Herman Construction is serving as the general contractor. The six-story complex will offer studio to three-bedroom apartments, ranging in size between 650 square feet and 1,150 square feet. Resident amenities will include a clubroom, resort-style swimming pool, fitness center, rooftop lounge, coworking spaces, golf simulator and covered parking with electric vehicle charging stations. Situated adjacent to Fluor Field, home of the Greenville Drive Minor League Baseball team, the development will also offer 10,700 square feet of street-level retail space. JLL arranged equity placement on behalf of Peakline Real Estate Funds. Leasing and property management of the complex is still being determined. Markley + Main marks SunCap’s first multifamily project in Greenville.

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The Perrin
FloridaLoansMultifamilySoutheast

Newmark Arranges $111M Construction Loan for Perrin Multifamily Development in Miami

by Abby Cox

MIAMI — Newmark has arranged a $111 million construction loan for The Perrin, a 310-unit multifamily development located at 901 SW 3rd Ave. in Miami’s Brickell district. Danny Matz of Newmark secured the financing on behalf of the borrower, The Empira Group. Goldman Sachs provided the loan. The 26-story project will feature a mix of studios, one-, two- and three-bedroom floorplans, 2,500 square feet of ground-floor retail space and 380 parking spaces. Amenities at the property will include a fitness center with a yoga room, coworking spaces, entertainment lounge, resort-style pool with cabanas, barbecue grills, a rooftop Zen garden and a tea room. The development also offers immediate access to I-95 and the Brickell Metrorail station. The Perrin, which is Empira’s first high-rise development in the United States, is slated for completion in 2028.

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AcquisitionsFloridaMultifamilySoutheast

Mesa Capital Partners Acquires 260-Unit Luxury Apartment Community in Jacksonville

by Abby Cox

JACKSONVILLE, FLA. — Atlanta-based Mesa Capital Partners has acquired The Julington, a 260-unit luxury apartment community located in the Mandarin neighborhood of Jacksonville. Constructed in 2023 by RISE Development, the complex offers one-, two- and three-bedroom floorplans, ranging in size from 765 square feet to 1,426 square feet. The property features elevator-serviced units, as well as resident amenities such as private coworking spaces, a resort-style pool deck, pet spa and Zen garden. Walker & Dunlop’s Atlanta office arranged the financing for the acquisition. The sales price was not disclosed. Pegasus Residential will oversee day-to-day management of the property.

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Habersham Crossing
AcquisitionsGeorgiaRetailSoutheast

Colliers Negotiates $10.6M Sale of Habersham Crossing Shopping Center in Cornelia, Georgia

by Abby Cox

CORNELIA, GA. — Colliers has negotiated the $10.6 million sale of Habersham Crossing, a 149,397-square-foot shopping center located in Cornelia. Goodwill, Tractor Supply Co., Ross Dress for Less and Dollar Tree anchor the center, which was fully leased at the time of sale. Additional tenants include Bath & Body Works, Palm Beach Tan, TB Nails & Spa and Habersham Package. Scott Israel and Joe Montgomery of Colliers represented the seller, an entity doing business as Habersham ZMCS LLC, in the transaction. The buyer was not disclosed.

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Company NewsDevelopmentIndustrialNorth CarolinaSoutheastTop Stories

JetZero to Open $4.7B Airplane Manufacturing Facility in Greensboro, North Carolina, Create 14,500 Jobs

by Abby Cox

GREENSBORO, N.C. — JetZero, a California-based aerospace startup company, will open a $4.7 billion manufacturing facility at Piedmont Triad International Airport in Greensboro. Construction on the facility is expected to begin in the first half of 2026, with the first deliveries beginning in the early 2030s.  The facility will house production of the company’s commercial all-wing design airplane titled Z4. Once the site is operational, the company’s headquarters will be relocated from Long Beach, Calif. to Greensboro. JetZero projects that the facility will account for the creation of about 14,500 new jobs by 2063, providing opportunities for collaboration with academic and vocational training institutions. “North Carolina offers the ideal combination of talent, infrastructure and forward-thinking leadership to support our mission to reshape aviation,” says Tom O’Leary, CEO and co-Founder of JetZero. JetZero has partnered with the smart infrastructure, electrification and automation divisions of German congolomerate Siemens to design a “factory of the future” that will be fully digital and AI-driven in order to increase speed, cut costs and improve quality to outpace original equipment manufacturers. Z4 planes will be able to accommodate 250 passengers with up to 50 percent better fuel efficiency than today’s commercial tubes and wing jets, according to JetZero. By …

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