Saturday, February 7, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Southeast

FloridaLoansSelf-StorageSoutheast

MMCC Arranges $14M Refinancing for Self-Storage Facility in Cape Coral, Florida

by John Nelson

CAPE CORAL, FLA. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $14 million loan for the refinancing of a 1,016-unit self-storage facility located at 1111 S.W. Pine Island Road in Cape Coral, a southwest Florida city near Naples. Operated by CubeSmart, the 137,900-square-foot property features a wide range of climate-controlled units and moving supplies for tenants. Doug Brooks of MMCC arranged the loan through an unnamed local bank on behalf of the borrower, Island Estate Group, a real estate investment company that operates in Florida, New York, Georgia and South Carolina. The five-year loan was underwritten with a 25-year amortization schedule, 60 percent loan-to-value ratio and 18 months of interest-only payments.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsRetailSoutheastVirginia

Prudent Growth Partners Acquires Retail Center in Chesapeake, Virginia for $5.4M

by John Nelson

CHESAPEAKE, VA. — Chapel Hill, N.C.-based Prudent Growth Partners has acquired Castle Shops, a 37,309-square-foot retail strip center located in Chesapeake, for $5.4 million. Dollar Tree anchors the two-building property, which was fully leased at the time of sale. Additional tenants include CHKD Thrift Store, Boost Mobile and Liberty Tax. Jeff Fritz and Jay O’Donnell of Colliers represented the seller in the transaction. George Fox, also with Colliers, served as the leasing agent at Castle Shops.

Continue Reading
FacebookTwitterLinkedinEmail
LoansSeniors HousingSoutheastWest Virginia

Cambridge Realty Capital Provides $4.3M HUD-Insured Loan for Skilled Nursing Property in Elizabeth, West Virginia

by John Nelson

ELIZABETH, W.VA. — Cambridge Realty Capital has provided a $4.3 million HUD 223(f) loan for the refinancing of Elizabeth Care Center, a 36-bed skilled nursing facility located at 83 Little Kanawha Parkway in Elizabeth. The lender used HUD’s new Express Lane program, which facilitated the loan to receive its firm commitment to be accepted 18 days after submission. The borrower was not disclosed, but Coplin Health Systems announced that it sold Elizabeth Care Center to the operator, Providence Health Group, in late 2024.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsFeaturesMultifamilySoutheastSoutheast Feature ArchiveVirginia

Delaware Statutory Trusts Unleash the Potential for Section 1031 Exchanges

by John Nelson

By Louis Rogers of Capital Square Navigating the complex tax rules of a Section 1031 exchange can be a complicated experience. For many, investing in a Delaware Statutory Trust, or DST replacement property, simplifies and streamlines the process so that more investors can enjoy the benefits of Section 1031. Introduction to Section 1031 Exchanges Section 1031 of the Internal Revenue Code, commonly referred to as a “tax-deferred exchange,” provides for the complete deferral of federal and state taxes on the sale of investment real estate. The seller must reinvest the net sale proceeds into a qualifying replacement property, which can be any type of real property. The gain that would have been recognized in a taxable sale is deferred until the replacement property is sold in a taxable transaction. Section 1031 has been in the tax code since 1921. Historically, most exchangers have acquired a “whole” property, meaning they acquired an entire replacement property. However, starting in 2002, many exchangers have acquired a fractionalized interest in their replacement property, first using the Tenant in Common (TIC) structure and, more recently, the DST structure. Instead of acquiring a whole property, they acquire a fractionalized interest or a percentage of a replacement …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentGeorgiaHealthcareSoutheast

Wellstar Receives State Approval to Build $1B Hospital in Acworth, Georgia

by John Nelson

ACWORTH, GA. — Wellstar Health System, an owner and operator of hospitals and healthcare clinics in Georgia, has received state approval to develop a new $1 billion hospital in Acworth, a northwest suburb of Atlanta in Cobb County. The construction timeline was not disclosed, but The Atlanta Journal-Constitution reported that Wellstar officials said the hospital could open to patients by 2031. The AJC also reported that competing hospitals have the right to appeal the Georgia Department of Community Health’s decision. In June, Wellstar filed for a certificate of need, a formal document that is necessary in the construction for new hospitals. The Marietta, Ga.-based health system plans to develop a 230-bed hospital spanning 675,000 square feet across Cobb Parkway from the existing Wellstar Acworth Health Park. In addition to the new Acworth hospital, Wellstar is underway on $1.4 billion in major construction projects, including expanding its flagship Wellstar Kennestone hospital in Marietta with a new tower and a $300 million expansion of Wellstar Paulding Medical Center in Hiram, Ga., with a new tower totaling 112 beds across two phases.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaLoansSeniors HousingSoutheast

CFG Provides $179.8M Construction Loan for Seniors Housing Development in Southwest Florida

by John Nelson

SARASOTA COUNTY, FLA. — Capital Funding Group (CFG) has provided a $179.8 million construction loan to Erickson Senior Living. The seniors housing owner and operator will use the financing for the first phase of development of Emerson Lakes, a continuing care retirement community (CCRC) currently underway in Sarasota County. Situated within the Lakewood Ranch community, the first phase of Emerson Lakes will comprise four buildings — three residential buildings and one community building. Together, the three residential buildings will total 319 independent living units. Upon completion, Emerson Lakes will span 87 acres with 1,015 independent living residences and 130 continuing care units. Erickson will operate the community.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentSoutheastStudent HousingVirginia

Cardinal Group, PGIM Break Ground on 493-Bed Student Housing Development Near Virginia Tech

by John Nelson

BLACKSBURG, VA. — A joint venture between Cardinal Group Development and PGIM has broken ground on a 493-bed student housing development near the Virginia Tech campus in Blacksburg. Located at 501 S. Main St., the community will offer 215 units across two five-story buildings and 50 three-story townhomes. The property will also feature 17,456 square feet of retail space on the ground level. Shared amenities are set to include a pool and hot tub, fitness center, clubhouse and collaborative study lounges. Each townhome will offer a private rooftop terrace and two-car garage. The project is scheduled for completion ahead of Virginia Tech’s 2027-2028 academic year.

Continue Reading
FacebookTwitterLinkedinEmail
LoansMultifamilySoutheastTennessee

Dwight Mortgage Trust Provides $53M Refinancing for South Banks Apartments in Knoxville

by John Nelson

KNOXVILLE, TENN. — Dwight Mortgage Trust has provided a $53 million bridge loan for the refinancing of South Banks, a 230-unit, garden-style apartment community located in Knoxville. The community, which comprises 118 one-bedroom apartments and 112 two-bedroom units, is situated along the Tennessee River near downtown Knoxville and the University of Tennessee. The property also features 3,000 square feet of commercial space, a fitness center, saltwater pool, outdoor kitchen, resident lounges, coworking spaces and a rooftop gathering area. Josh Hoffman and Jonathan Pomper of Dwight Mortgage Trust originated the loan on behalf of the owner, locally based Dominion Group.

Continue Reading
FacebookTwitterLinkedinEmail
LoansSelf-StorageSoutheastTennessee

Affinius Capital Funds $17.3M Refinancing for Self-Storage Portfolio in Metro Nashville

by John Nelson

GALLATIN AND SPRING HILL, TENN. — Affinius Capital has provided a $17.3 million loan for the refinancing of a two-property self-storage portfolio in the Nashville suburbs of Gallatin and Spring Hill. Storelocal operates both facilities, which total 1,341 units. Amit Tyagi and Andy Bratt of Gantry arranged the loan on behalf of the borrower, Pruitt Investments. Each property features drive-up entry, climate-controlled units, onsite management, controlled gate access with keypad entry, a leasing office and 24/7 digital surveillance.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaFloridaGeorgiaIndustrialLoansNorth CarolinaSoutheastTexasTop StoriesWestern

JLL Arranges $820M Refinancing for 6.1 MSF Industrial Portfolio Across Six Markets

by Kristin Harlow

IRVINE, CALIF. — JLL Capital Markets has arranged an $820 million refinancing for a 6.1 million-square-foot industrial portfolio comprising 42 shallow-bay properties across six markets. JLL arranged the CMBS financing on behalf of the borrower, a joint venture between affiliates of CIP Real Estate LLC and Almanac Realty Investors. Wells Fargo led the floating-rate, single-asset single-borrower (SASB) refinancing, with J.P. Morgan and Goldman Sachs also originating portions of the loan. The properties span major industrial markets, including Atlanta, Dallas-Fort Worth, Charlotte, Tampa and California’s East Bay and Inland Empire. As of September, the portfolio was 91 percent leased to more than 950 tenants. The buildings feature average clear heights of 19 feet, an average office finish of 33 percent and range in size from 16,176 to 944,655 square feet. The average property size is 145,925 square feet. Many tenants are logistics, e-commerce and distribution users, including last-mile operators and small- to medium-sized businesses. CIP plans to continue its growth strategy in the shallow-bay industrial sector, where it sees opportunity to serve the evolving needs of logistics, e-commerce and distribution tenants, according to CEO Eric Smyth. JLL’s Kevin MacKenzie, Peter Thompson, Christopher Pratt, Kyle White, Anthony Scaglione and Nick Englhard led …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts