Wednesday, April 29, 2026
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Business Park in Lake Mary
AcquisitionsFloridaIndustrialSoutheast

Ten Capital Management Acquires Business Park in Lake Mary, Florida

by Julia Sanders

LAKE MARY, FLA. — Ten Capital Management, a privately held real estate investment management firm, has acquired five buildings in Technology Park, a business park located at 100, 200, 250, 255 and 525 Technology Parkway in Lake Mary. Somerset Properties is Ten Capital’s partner on the transaction. The seller and sales price were not disclosed. The Technology Park property is a 297,386-square-foot, five-building flex-office and light industrial campus. Recent leasing activity at the property has resulted in more than 91,000 square feet of new tenants over the last 12 months, and it was 87 percent leased to 16 tenants at the time of sale. The business park offers access to Interstate 4 and Lake Mary Boulevard.

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Residence Inn
AcquisitionsFloridaHospitalitySoutheast

Hersha Hospitality Trust Sells 140-Room Hotel in Miami’s Coconut Grove Neighborhood

by Julia Sanders

MIAMI — Hersha Hospitality Trust has sold the Residence Inn by Marriott, a three-building, 140-room hotel at 2835 Tigertail Ave. in Miami’s Coconut Grove neighborhood. John Crotty, Michael Fay, David Duckworth, Brian de la Fé, Emily Brais and Berkley Bloodworth of Avison Young represented the seller in the transaction. AB Asset Management purchased the hotel for an undisclosed price. Situated at the intersection of Tigertail Avenue and Mary Street, the hotel sits on over two acres. The property is 14 miles from Miami Beach and 5.6 miles from Miami International Airport.

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Tryon House
AcquisitionsLoansMultifamilyNorth CarolinaSoutheast

NorthMarq Arranges $8.6M Acquisition Loan for Tryon House Apartments in Charlotte

by Julia Sanders

CHARLOTTE, N.C. — NorthMarq has arranged an $8.6 million bridge loan for the acquisition and renovation of Tryon House Apartments located at 508 North Tryon St. in Charlotte. The 84-unit property is located near the city’s Uptown district. Dave Stewart and Ryan Taylor of NorthMarq arranged the financing through a national debt fund on behalf of the buyer, Elevate Capital. The seller was not disclosed. Tryon House was built in 1927, and is close to all of Uptown’s amenities, such as the LYNX Blue Line light rail system, Charlotte’s banking headquarters and The EpiCentre and First Ward Business Center.

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Build-to-RentDevelopmentFinance InsightLeasing ActivityMidwestMultifamilyNortheastSingle-Family RentalSoutheastTexasVideoWalker & DunlopWestern

Walker & Dunlop: SFR/BFR Rapidly Growing Option for Rental Spaces

by Sarah Daniels

  The strength of multifamily has been well solidified over the past few years, but a new contender in the rental market is making waves, according to Kris Mikkelsen, executive vice president, Walker & Dunlop Investment Sales. Single-family rental (SFR) and build-for-rent (BFR) spaces are growing increasingly popular. An SFR is a group of homes-for-rent pooled together for investment purposes BFR properties are purpose-built housing operated as SFR investments “SFR is in the distributed model: individual homes managed by tech-driven management platforms that were the formation of the single-family REITs you see in existence today. The build-for-rent space existed pre-COVID but has really been accelerated post-COVID as the end consumer looks to de-densify,” says Mikkelsen. Much of the demand has been driven to more suburban markets, with COVID-19 creating a sudden and palpable need for space among renters. Other factors — including declining home ownership rates and the high demand for multifamily options — have all contributed to the growth of this asset class and subsequent interest from larger institutional investors. Watch Mikkelsen’s interview to learn about demand for SFR/BFR space and changing renter demographics accelerating the growth of this asset class. This article is posted as part of REBusinessOnline’s Finance Insight series. Click here to …

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Serenity Apartments
AcquisitionsGeorgiaMultifamilySoutheast

Elevation Financial Group Sells Multifamily Property in Columbus, Georgia for $13M

by Julia Sanders

COLUMBUS, GA. — Elevation Financial Group has sold Serenity Apartments, a 211-unit multifamily community in Columbus, for $13 million. The buyer was not disclosed. Elevation purchased Serenity in July 2018 for $7.6 million, when it was 72 percent occupied. Since then the Orlando-based firm has made several enhancements, including the revitalization of over 50 apartment units, a complete rehabilitation of the leasing office, new carpet in all exterior breezeways, exterior painting of the townhome buildings and parking lot paving. At the time of sale, the property was 96 percent occupied. Serenity is situated within eight miles of Fort Benning Army Base and three miles from Columbus State University. The property marks the sixth disposition for Elevation Real Property Fund VI. Properties remaining in the portfolio include a multifamily community in Alabama, one in Mississippi, two seniors housing properties in Virginia and one seniors housing community in Illinois.

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CEV Murray North
AcquisitionsKentuckyMultifamilySoutheastStudent Housing

Capstone Brokers $10.1M Sale of Student Housing Portfolio Near Murray State University in Kentucky

by Julia Sanders

MURRAY, KY. — Capstone Apartment Partners has brokered the sale of a 248 unit, 898-bed student housing portfolio in Murray for $10.1 million. The portfolio features two properties: CEV Murray North and CEV Murray South, which are situated less than a half mile north of Murray State University’s campus. Capstone’s Jonathan Hawks, Adam Klenk, Austin Heithcock and Tyler Mayo represented the seller, Timberline Real Estate, in the transaction. The buyer, Hillcrest Acquisitions, plans to do minor renovations to the assets and improve occupancy while keeping the current management company in place. CEV Murray North features 140-units and 490 beds. The property was built in 2008 and was 75 percent occupied at the time of closing. Less than one mile south from CEV Murray North is CEV Murray South, which has 108 units and 408 beds. The apartment property was constructed in 1999, and was 90 percent occupied at the time of sale. CEV Murray North and South each offer amenity packages such as swimming pools, fitness centers, clubhouses, grilling areas and volleyball courts.

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Baker Manor Apartments
AcquisitionsAffordable HousingFloridaMultifamilySoutheast

AHIB Arranges $2.5M Sale on Section 8 Public Housing Community in Macclenny, Florida

by Julia Sanders

MACCLENNY, FLA. — Affordable Housing Investment Brokerage Inc. (AHIB) has arranged the sale of Baker Manor Apartments at 680 S 6th St. in Macclenny for just over $2.5 million. Kyle Shoemaker of AHIB represented both the California-based purchaser, The Grey Rock Group, and the undisclosed seller to complete the transaction. Built in 1974, the 50-unit Baker Manor features 12 one-bedroom, 26 two-bedroom and 12 three-bedroom units. Rents in the building range from $655 to $924 per month. Amenities include a playground, pool that underwent renovations in 2018, a laundry facility, community room and an onsite management office. Baker Manor is located close to Interstate 10. The community currently has a waiting list of approximately three years.

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Portside Distribution Center
DevelopmentIndustrialSouth CarolinaSoutheast

Frampton Construction Completes 189,500 SF Building at Portside Distribution Center in Metro Charleston

by Julia Sanders

SUMMERVILLE, S.C. — Frampton Construction Co. LLC has completed a 189,500-square-foot industrial building in Summerville. The Class A speculative facility, developed by Randolph Development, is the first of two heavy industrial buildings that will comprise Portside Distribution Center. Plans on the second building are currently underway, and Randolph expects to break ground later this spring. The new Portside Distribution Center building, located near Interstate 26, is meant for a variety of end users including logistics companies, aerospace and automotive suppliers, defense contractors, light manufacturers and last-mile distributors. With 32-foot clear heights, the facility features structural steel and load-bearing concrete tilt walls. The building is divisible to 28,944 square feet and features 33 dock doors and two drive-in doors. Thomas & Hutton provided site, civil and landscape design for the 31-acre development, while McMillan Pazdan Smith provided architectural design. Colliers International is handling the leasing of the property. Construction was completed in December 2020.

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District of ColumbiaSoutheast

First-Time Claims for Unemployment Insurance Decrease to 712,000, Lower Than Expected

by Julia Sanders

WASHINGTON, D.C. — A total of 712,000 Americans filed for unemployment assistance for the week that ended March 6, the U.S. Department of Labor reported Thursday. The amount of initial jobless claims was below the 725,000 figure that economists surveyed by Dow Jones predicted and is a decrease from last week’s revised amount of 745,000. Continuing claims, for which data lags a week, decreased by 193,000 to 4.1 million. CNBC reports that unemployment numbers are expected to lower even more in the coming weeks due to President Joe Biden signing a $1.9 trillion relief package into law, which is expected for Friday. The House of Representatives passed the revised stimulus plan on Wednesday. The U.S. economy still has a long way to go before it is completely back to pre-pandemic levels, with a total number unemployed workers totaling 10 million through February. CNBC reports that the number of individuals receiving partial or full unemployment compensation totaled 20 million as of Feb. 20.

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Affordable HousingDevelopmentFinance InsightMidwestMultifamilyNortheastSoutheastTexasVideoWestern

TD Bank: Affordable Housing — Trends and Delays

by Sarah Daniels

  2020 was a year of job losses and difficulties for many. There was a great deal of need for affordable housing but also challenges for those seeking to provide it. Process delays caused by COVID-19 and slowdowns in funding hampered efforts to develop affordable housing, according to Gregg Gerken, Head of U.S. Commercial Real Estate with TD Bank. The question is: will the affordable housing and workforce housing ​ industry be better served by 2021? The problem of affordable housing is one seen in many communities, irrespective of geography. “I think some communities have the equivalent of workforce housing, which in many cases is affordable. But when you get into a lot of the more expensive urban areas and densely populated cities there’s this issue of supply and demand — there just isn’t enough supply of affordable housing to really reach the demand,” Gerken says. How have government programs and policies affected the affordable housing sector? How will renters and landlords be impacted by these programs going forward? What happens after the end of the eviction moratorium? Watch the interview for Gerken’s insights on affordable housing development. This article is posted as part of REBusinessOnline’s Finance Insight series. Click here to subscribe to the Finance Insight newsletter, a …

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