Friday, April 24, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Southeast

AcquisitionsAffordable HousingCaliforniaCompany NewsMarylandMultifamilySoutheastTop StoriesWalker & DunlopWestern

Walker & Dunlop Bolsters Affordable Housing Business with $696M Acquisition of Alliant Capital, Affiliates

by John Nelson

BETHESDA, MD. AND WOODLAND HILLS, CALIF. — Walker & Dunlop (NYSE: WD) has entered into a definitive agreement to acquire Alliant Capital Ltd., a privately held affordable housing asset management firm based in Woodland Hills. Under the terms of the purchase agreement, Walker & Dunlop will acquire Alliant and its affiliates, Alliant Strategic Investments and ADC Communities, at a total value of $696 million. Alliant is the sixth-largest syndicator of low-income housing tax credits (LIHTC) in the United States and has participated in the development of over 100,000 affordable units serving over 400,000 families. ADC Communities is the affordable housing development arm of Alliant, which has financed 29 developments and over 5,400 units in eight states since 2014. Alliant Strategic Investments focuses on non-LIHTC affordable housing preservation, workforce housing and opportunity zone investments. The acquisition will bring Walker & Dunlop’s total affordable housing assets under management to $16 billion, with $14 billion of those assets under management belonging to Alliant. The move is expected to be accretive to Walker & Dunlop’s existing $112 billion servicing portfolio. “Alliant is one of the largest and most respected tax credit syndicators and affordable housing developers in the country. The addition of their people, …

Continue Reading
FacebookTwitterLinkedinEmail
Icon Central
AcquisitionsFloridaMultifamilyRetailSoutheast

JLL Arranges $149M Sale of Iron Central Apartment Tower in St. Petersburg, Florida

by Julia Sanders

ST. PETERSBURG, FLA. — JLL has arranged the sale of Icon Central, a 368-unit, 15-story, mixed-use residential tower in St. Petersburg. Matt Mitchell, Matthew Lawton and Zach Nolan of JLL represented the seller, Related Group, in the transaction. Camden Property Trust acquired the property for $149 million, according to the Tampa Bay Business Journal. Completed in 2019 by Related Group, Icon Central includes about 35,000 square feet of rentable space of ground-floor retail. In July, Tricera Capital acquired the ground floor retail for $11.1 million, as well as the adjoining Union Trust Bank building. Right now, BurgerFi and Watts Dental lease about 7,000 square feet of the property’s retail space. Icon Central’s apartments feature private balconies, stainless steel appliances, kitchen islands, a full-size washer and dryer and electronic key-fob entry. Community amenities include a pool with lounge area, fitness center, sauna and steam room, spa with massage tables and Zen lounge, private clubroom and dining room, a movie theater, game simulator and a rooftop terrace with an outdoor kitchen, dining, seating and firepits. Located at 855 Central Ave., Icon Central is situated within a half-mile of St. Petersburg’s Central Arts District and the Edge District, which have art galleries, museums, …

Continue Reading
FacebookTwitterLinkedinEmail
Society Orlando
FloridaLoansMixed-UseRetailSoutheast

PMG, Raven Capital Secure $120M Construction Loan for Society Orlando Mixed-Use Tower

by Julia Sanders

ORLANDO, FLA. — Property Markets Group (PMG) and Raven Capital Management has secured a $120 million construction loan for the development of Society Orlando, a 26-story multifamily and retail project located at 434 N Orange Ave. in downtown Orlando. Chris Peck and Mark Fisher of JLL arranged the loan through a fund managed by Los Angeles-based CIM Group. PMG was represented internally by Lowell Plotkin, Andrew Warman, Jonathan Blank and Randy Marble. The loan will provide financing for the first phase of the development, which broke ground in 2020. Slated for completion in 2023, Society Orlando’s first phase will include 462 apartments and 33,000 square feet of ground-floor commercial space. Society Orlando will offer a blend of traditional units as well as co-living options. With over 100,000 square feet of amenity space, the community amenities will include a pool deck, coworking lab, gym and fitness studio, entertainment lounges, yoga lawn, craft food and beverage operations, smart package lockers and app-based keys. Society Orlando is part of the Society Living brand, which focuses on primarily market-rate apartments along with making co-living apartments better by making it easier to find good roommates, splitting up the bills and eliminating shared bathrooms. Other Society …

Continue Reading
FacebookTwitterLinkedinEmail
Sauer Industrial Center
AcquisitionsDevelopmentIndustrialSoutheastVirginia

Becknell Acquires 83.4 Acres in Henrico, Virginia for New Industrial Development

by Julia Sanders

HENRICO, VA. — Becknell Industrial has acquired an 83.4-acre parcel within Sauer Industrial Center in Henrico with plans to construct two Class A facilities totaling more than 725,000 square feet. The sales price and seller were not disclosed. Sauer Properties is partnering with Becknell Industrial to develop the first phase of Sauer Industrial Center. Building 1 will total 446,692 square feet of cross-docked space and Building 2 will be a 279,319-square-foot rear-loaded facility. Both buildings will feature ESFR sprinkler systems, LED lighting with motion sensors and ample dock packages. Both buildings are scheduled for delivery in May 2022. Located on Seven Hills Boulevard in east Henrico County, Sauer Industrial Center is located within one mile of Richmond International Airport. Sauer Industrial Center is a master-planned industrial park spanning 3.3 million square feet. The industrial property will be complete over a span of three phases. Clifford Porter of Porter Realty Co. Inc./CORFAC International is the exclusive leasing agent for the new development and represented Becknell Industrial on the land purchase.

Continue Reading
FacebookTwitterLinkedinEmail
Windy Ridge
DevelopmentGeorgiaMultifamilySoutheast

Flournoy Breaks Ground on 298-Unit Apartment Community Adjacent to Battery Atlanta

by Julia Sanders

ATLANTA — Flournoy Development Group has broken ground on a 298-unit apartment community located along Windy Ridge Parkway in Atlanta’s Cumberland-Galleria submarket. The site is adjacent to Battery Atlanta, a mixed-use village with retail, residential, dining and entertainment options that surrounds Truist Park, home ballpark of the Atlanta Braves. The yet-to-be-named apartment community will feature studios, as well as one-, two- and three-bedroom units. Community amenities will include a rooftop club and gaming terrace, swimming pool, private structured parking, fitness center and a dog park. The four-acre land parcel will include a rooftop terrace with views overlooking Battery Atlanta, approximately 7,500 square feet of retail space and a public greenspace and plaza. Construction is underway with completion scheduled for late fall 2022. Dynamik Design, Kimley-Horn, b+c Studio, Mitsch Design and contractor Flournoy Construction Group comprise the development team.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsKentuckyMultifamilySoutheast

Marcus & Millichap Brokers $10.6M Sale of Two-Property Apartment Portfolio in Louisville, Kentucky

by Julia Sanders

LOUISVILLE, KY. — Marcus & Millichap has brokered the sale of two adjacent apartment properties in Louisville: the 106-unit Preston Commons Apartments II and the 80-unit Dunwoody Court Apartments. An entity doing business as Maples LLC bought the portfolio for $10.6 million, according to the Louisville Business First. The buyer plans on combining the two adjacent properties into a 186-unit community called Valore at the Maples. Preston Commons Apartments II is located at 1409 Huntington Lane and Dunwoody Court Apartments is located at 7510 Dunwoody Court. Both properties have had updates over the last few years and were more than 90 percent occupied at the time of sale. Preston Commons Apartments II offers two-bedroom units with community amenities including onsite laundry services, 24-hour emergency maintenance and off-street parking. Dunwoody Court Apartments offers one- and two-bedroom apartments with community amenities including a clubhouse, laundry facility and fitness center. Aaron Johnson and David Badgett Jr. of Marcus & Millichap represented the undisclosed seller, a limited liability company. The duo also secured the buyer. Colby Haugness of Marcus & Millichap assisted in closing this transaction.

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialMarket ReportsNorth CarolinaSoutheastSoutheast Market Reports

Charlotte’s Industrial Market Expected to Close Another Robust Year of Leasing

by John Nelson

The Charlotte industrial market is seeing significant tenant demand and investment activity at mid-year 2021 as the market begins to return to normalcy after the disruption during the early days of the pandemic. Like many other Southeastern industrial markets, Charlotte saw a lag in activity through the second and third quarters of 2020. One year later, the impacts of the pandemic continue to burn off, creating an almost insatiable appetite for modern warehouse and distribution space. Since the start of the year, the market has seen a strong increase in overall activity as local economies continue to open up, employment levels rebound and businesses move forward with decisions about space utilization. Tenants in the e-commerce, consumer goods, retail and light manufacturing sectors are particularly active. While the market finished 2020 with nearly 5.3 million square feet of net absorption, a figure that outpaced 2019’s total of 2.7 million square feet and was on par with the nearly 5.4 million square feet absorbed in 2018, 2021 is expected to reach a net absorption for the calendar year that is equal or greater than 2020. Many tenants expanding in or entering the market are taking mid- to large blocks of space, a …

Continue Reading
FacebookTwitterLinkedinEmail
Siena-Park-Arlington
AcquisitionsMultifamilySoutheastTop StoriesVirginia

JLL Negotiates $80.1M Sale of Siena Park Apartments in Arlington, Virginia

by Taylor Williams

ARLINGTON, VA. — JLL has negotiated the $80.1 million sale of Siena Park, a 188-unit apartment community located in the Washington, D.C., suburb of Arlington. The price equates to approximately $426,000 per unit. The property, which is located near multiple public transit stations and shopping and dining destinations, also houses 33,602 square feet of retail and 17,373 square feet of office space. Residential units feature studio, one- and two-bedroom floor plans and have an average size of 844 square feet. Units are also furnished with stainless steel appliances, contemporary cabinetry, granite countertops, kitchen islands and built-in bookshelves. Communal amenities include a fitness center and weight room, game room with billiards, clubhouse, outdoor pool, rooftop deck, coffee bar and cybercafé. Walter Coker, Brian Crivella, Robert Jenkins and Bill Gribbin of JLL represented the seller, Zurich Alternative Management, in the transaction. The buyer was not disclosed. — Taylor Williams

Continue Reading
FacebookTwitterLinkedinEmail
Oasis Grand II
AcquisitionsFloridaMultifamilySoutheast

Westside Capital Group Purchases Residential Tower in Downtown Fort Myers for $71M

by Julia Sanders

FORT MYERS, FLA. — Westside Capital Group, a Miami-based real estate investment firm, has purchased Oasis Grand II, a 32-story residential tower located in downtown Fort Myers. Westside acquired the property in an off-market transaction for $71 million, or approximately $268,000 per unit. Geosam, a Canadian-based developer, was the seller. Originally built by Related Group as a condominium in 2008, the Oasis Grand II features studio, one- and two-bedroom units ranging from 629 square feet to 1,700 square feet. The property also includes several two-story, three-bedroom waterfront townhomes with up to 1,800 square feet of space. Located at 3040 Oasis Grand Blvd., the property is situated on a 1.3-acre site along the Caloosahatchee River. The tower was 98 percent occupied at the time of the sale. Westside Capital will invest in improvements to the property, including enhancements to amenities, common areas and individual apartments. Community amenities include gated-entry; a fitness center; clubhouse and social lounge with wet bar, TV and Wi-Fi; a private boat launch ramp; gated pet run; library; a pool deck with poolside cabanas and lounges; private barbecue and picnic areas; and men’s and women’s spa facilities with saunas and showers. As part of the purchase, Westside Capital …

Continue Reading
FacebookTwitterLinkedinEmail
Industrial
FloridaIndustrialLoansSoutheast

Phillips Realty Capital Secures $57.5M Loan for Industrial Portfolio in Metro Miami, Tampa

by Julia Sanders

HIALEAH AND TAMPA, FLA. — Washington, D.C.-based Phillips Realty Capital has secured a $57.5 million bridge loan for HighBrook Investors, which is acquiring and repositioning a four-property, 740,400-square-foot industrial portfolio located near Miami and in Tampa. The portfolio includes three buildings in metro Miami and one in Tampa. The metro Miami properties were delivered between 1959 and 1968, and the Tampa warehouse was built in 1987. The Miami-area properties include three industrial warehouses totaling 306,000 square feet. These properties are located at 3455 NW 54th St., 5400 NW 32nd Court and 5530 NW 32nd Court in Hialeah, which is two miles northeast of Miami International Airport and less than six miles northwest of downtown Miami and Port of Miami. Building amenities include reinforced concrete buildings on approximately 10.9 total acres of land with onsite access to a CSX freight rail line. Located at 6708 Harney Road in the East Tampa submarket, the fourth property is a 434,000-square-foot warehouse situated one mile northwest of Interstate 4, six miles northeast of downtown Tampa and eight miles east of Tampa International Airport. The property is located within three miles of two new Amazon fulfillment centers. Additionally, the property includes 13.2 acres of vacant …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts