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Z Modular Receives $62.3M Bridge Loan for San Marcos Multifamily Property

Taylor Williams — Tue, 03 Feb 2026 16:32:02 +0000

SAN MARCOS, TEXAS — Z Modular has received a $62.3 million bridge loan for the refinancing of Flatz 512, a 384-unit multifamily property located roughly midway between Austin and San Antonio in San Marcos. A partnership between New York-based Castle Lanterra and global investment management firm InterVest Capital Partners provided the loan. The newly constructed property offers studio, one-, two- and three-bedroom units. Amenities include a pool, fitness center, business center, clubhouse and outdoor grilling and dining stations.

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MAG Capital Partners Acquires 425,000 SF Industrial Campus in New Castle, Indiana

Kristin Harlow — Fri, 23 Jan 2026 14:29:26 +0000

NEW CASTLE, IND. — MAG Capital Partners has acquired an approximately 425,000-square-foot industrial headquarters campus in New Castle, about 44 miles east of Indianapolis. The transaction was a sale-leaseback with New Castle Stainless Plate. Comprising more than a dozen buildings on nearly 128 acres, the property manufactures stainless plate products, serving a diverse range of industries including aerospace, energy, chemical processing and heavy equipment manufacturing. Deutsche Bank provided acquisition financing. Krupa Shah and Phil DiGennaro of Stream Capital Partners represented the seller.

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Origin Investments, Confluence Cos. to Develop 298-Unit Brickyard Apartments in Castle Rock, Colorado

Amy Works — Thu, 18 Dec 2025 13:59:23 +0000

CASTLE ROCK, COLO. — Origin Investments and Confluence Cos. have formed a joint venture to develop Brickyard Apartments in Castle Rock. The 298-unit multifamily community will be part of Confluence’s 31-acre master-planned development, The Brickyard. Situated on 3 acres, Brickyard Apartments will feature 36 studio, 149 one-bedroom, 98 two-bedroom and 15 three-bedroom residences, with rents ranging from $1,600 to $3,150 per month. Community amenities will include a rooftop pool with a hot tub, lounge sauna and cold plunge, a fitness center, private social lounge and kitchen, outdoor terrace area, golf simulator, courtyards with green space, a dog spa and covered parking. Additionally, the property will feature a for-sale 38,300-square-foot commercial condominium.

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McWhinney Acquires Red Hawk Crossings Build-to-Rent Community in Castle Rock, Colorado

Amy Works — Tue, 09 Dec 2025 14:00:08 +0000

CASTLE ROCK, COLO. — McWhinney has purchased Red Hawk Crossings, a build-to-rent townhome property at the Wolfensberger Road and Prairie Hawk Drive intersection in Castle Rock. Terms of the acquisition were not released. Built in 2015, Red Hawk Crossings features 60 three-bedroom/2.5-bath townhomes with direct-access two-car garages. McWhinney plans to implement a renovation program and operational enhancements. Asset Living will provide property management services for the asset.

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X Caliber Structures $285M in Construction Financing for Missouri Resort Development

Kristin Harlow — Thu, 20 Nov 2025 15:13:15 +0000

OSAGE BEACH, MO. — X Caliber Capital Holdings LLC has structured a $285 million Rural PACE-X financing for the ground-up construction and redevelopment of the Oasis at Lakeport in Osage Beach. The resort and entertainment project has a total cost of $495 million. Plans call for a Marriott hotel with 402 rooms, a conference center, indoor waterpark, amusement park and various amenities. The $285 million financing consists of $220 million of conventional senior-secured debt through an affiliate of X-Caliber Rural Capital, XRL-ALC LLC, and $65 million of Commercial Property Assessed Clean Energy (C-PACE) financing through CastleGreen Finance. The financing marks X-Caliber’s largest Rural PACE-X transaction closed to date since the product launched in late 2024. Rural PACE-X is a proprietary financing solution that provides high-leverage financing for ground-up construction projects in micro-rural areas. The C-PACE financing is the largest to date for the state of Missouri and for CastleGreen Finance, according to X-Caliber. Gregg Delany, Ken Lorman and Gabe Mashaal of X-Caliber Advisors originated and structured the financing on behalf of Tegethoff Development Co. The project’s energy-efficiency design is estimated to save around $11 million in costs over the lifetime of the improvements. The Oasis at Lakeport is expected to…

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

John Nelson — Thu, 23 Oct 2025 13:49:39 +0000

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.

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SRS Brokers $7M Sale of New Store in Castle Hayne, North Carolina Leased to Tractor Supply

John Nelson — Mon, 29 Sep 2025 14:14:21 +0000

CASTLE HAYNE, N.C. — SRS Real Estate Partners has completed the $7 million sale of a newly built, 21,930-square-foot store in Castle Hayne leased to Tractor Supply. The store is situated on 11.5 acres at 3400 Castle Hayne Road, roughly 11 miles north of Wilmington, N.C. Tractor Supply had 14 years remaining on its corporate-guaranteed lease at the time of sale. Calvin Short of SRS represented the seller, a developer based in Pine Hurst, N.C., in the transaction. Pierce Mayson of Matthews Real Estate Investment Services represented the buyer, an unnamed investor based in Conyers, Ga., that was completing the second leg of a 1031 exchange.

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Marcus & Millichap Brokers $7.5M Sale of Bronx Apartment Building

Taylor Williams — Fri, 12 Sep 2025 13:05:12 +0000

NEW YORK CITY — Marcus & Millichap has brokered the $7.5 million sale of an 83-unit apartment building in the Westchester Square area of The Bronx. The six-story, elevator-served building at 1776 Castle Hill Ave. was constructed in 1936 and houses 15 studios, 54 one-bedroom units, 13 two-bedroom apartments and one three-bedroom residence. Benjamin Myerow, Seth Glasser and Michael Fusco of Marcus & Millichap represented the seller, a local family, and procured the buyer, a 1031 exchange investor, in the transaction. Both parties requested anonymity.

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Sonnenblick-Eichner Co. Arranges $126.1M Refinancing for Pacifica Hotels Portfolio in Southern California

Amy Works — Wed, 10 Sep 2025 14:12:57 +0000

LOS ANGELES — Sonnenblick-Eichner Co. has arranged $126.1 million in first mortgage debt for Pacifica Hotels to refinance a portfolio of seven hotels in Southern California. The three- and five-year fixed-rate loans were funded by a Wall Street investment bank and an insurance company. Totaling 601 rooms, the portfolio includes The Wayfarer San Diego; Sandcastle Hotel on the Beach, Spyglass Inn and Cottage Inn by the Sea in Pismo Beach; Inn at Venice Beach, The Kinney Venice Beach in Venice; and The Belamar Hotel, a Tapestry Collection by Hilton, in Manhattan Beach.

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Newcastle Partners Breaks Ground on 406,138 SF Industrial Development in Hesperia, California

Amy Works — Mon, 25 Aug 2025 13:54:02 +0000

HESPERIA, CALIF. — Newcastle Partners has broken ground on an industrial development located at 9260 Mesa Linda St. in Hesperia. Situated on 18.3 acres with immediate access to I-15, the project will offer 406,138 square feet of Class A industrial space. Ryan Lal and Dante Borruso of Voit Real Estate Services are overseeing all marketing, sales and leasing efforts for the property.

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Platinum CRE Brokers $6.4M Sale of Mixed-Use Property in Castle Rock, Colorado

Amy Works — Tue, 12 Aug 2025 13:59:03 +0000

CASTLE ROCK, COLO. — Platinum Commercial Real Estate has arranged the acquisition of 600 and 695 Jerry Street in Castle Rock. PYFR LLC purchased the asset from RA Morrison LLC for $6.4 million. The property comprises a 25,380-square-foot, four-story mixed-use building and a 4,850-square-foot single-tenant restaurant. At the time of sale, the property was 93.7 percent occupied. Paul Cattin of Platinum CRE represented the buyer, while Campbell Davis, Parker Brown and Matthew Henrichs of CBRE represented the seller in the deal.

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John Propp Commercial Negotiates $2.5M Sale of Office, Retail Property in Castle Rock, Colorado

Amy Works — Thu, 07 Aug 2025 13:39:15 +0000

CASTLE ROCK, COLO. — John Propp Commercial Group has arranged the sale of an office and retail building located at 734 Wilcox St. in Castle Rock. Seven34 LLC sold the asset to 2950 West Point Holdings LLC for $2.5 million. The two-story property offers 8,969 square feet of office and retail space, as well as parking. John Propp of John Propp Commercial Group represented the seller, while Andrew Monette of Pinnacle Real Estate represented the buyer. The buyer plans to operate the property as an investment.

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CBRE Negotiates Sales of Two Retail Ground Leases in Goodyear, Arizona for $6.7M

Amy Works — Tue, 29 Jul 2025 13:34:48 +0000

GOODYEAR, ARIZ. — CBRE has negotiated the sales of two adjacent single-tenant ground lease properties at 1420 and 1460 N. Bullard Ave. in Goodyear. Two separate West Coast-based private capital exchange buyers acquired the assets for a combined total of $6.7 million. Benjamin Farthing and Owen Littrell of CBRE represented the seller, Tradecor Partners Goodyear LLC, in the transactions. Bubba’s 33 is located at 1460 N. Bullard Ave. and features a brand new 15-year absolute triple-net ground lease on a 1.7-acre parcel. The property sold for $3.5 million. Located at 1420 N. Bullard Ave., the double drive-through White Castle on a 1-acre parcel sold for $3.2 million.

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How To Ensure That Expensive Multifamily Renovations Pay Off

Taylor Williams — Thu, 24 Jul 2025 11:53:00 +0000

By Nellie Day Today’s multifamily investment market can feel like a three-ring circus thanks to leveled-off rents, increased costs and more competition in many regions. Performers in this circus are often walking on a tightrope. On one side, there are repairs to be made and renovations that can lead to justified rent increases. On the other side, costs and reality must reign supreme. “Pre- and post-COVID markets have forced an evolution when it comes to investing in an asset,” says Sarah Connolly, vice president of operations at Capital Square Living in Glen Allen, Virginia. “Owners now have to ask themselves, ‘What is actually going to bring a return, and what should be incorporated into programming due to muted rent growth?’” It’s a challenging landscape, to be sure. National rent growth has slowed down significantly, with year-over-year increases hovering around 1 percent as of late 2024, according to the fourth-quarter multifamily report from Apartments.com. This is a stark contrast to the double-digit surges posted in 2021 and 2022. At the same time, construction costs have escalated, with Crescent Insurance Advisers noting that the average cost of building a multifamily property is about $398 per square foot. For context, the national average…

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Deven, Castle Lanterra Break Ground on $95M Student Housing Development Near University of Central Florida

John Nelson — Wed, 16 Jul 2025 15:22:55 +0000

ORLANDO, FLA. — A partnership between Development Group Ventures, a subsidiary of Kajima USA and Kajima Corp., and Castle Lanterra have broken ground on a 631-bed student housing development near the University of Central Florida (UCF) campus in Orlando. Additional contributors to the project include PLT America Corp. and Sumitomo Mitsui Trust Bank, which provided financing for the project. Situated within the Quadrangle Business Park, the estimated $95 million project will total 304,969 square feet and comprise five stories. Completion is slated for summer 2027. The development will offer 177 units in one- to six-bedroom configurations. Shared amenities will include a sky lounge with lake views, golf/multi-sport simulator, rock climbing wall, outdoor fitness lawn with a sauna and cold plunge, Jumbotron, resort-style swimming pool, study spaces on each floor, game rooms, an activity kitchen, bicycle storage and a UCF shuttle stop.

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CSTO, WinnDevelopment Begin $40M Repositioning of Boston Affordable Housing Complex

Taylor Williams — Fri, 11 Jul 2025 14:12:15 +0000

BOSTON — A partnership between local nonprofit organization Castle Square Tenants Organization (CSTO) and regional owner-operator WinnDevelopment has begun the $40 million repositioning of Eva White Apartments, a 102-unit affordable housing complex in Boston’s South End. The project will encompass upgrades to unit interiors and the creation of new amenity spaces, as well as energy system retrofits to the property’s two seven-story buildings. Specifically, each of the property’s 34 studios, 57 one-bedroom units and 11 two-bedroom units will be improved with modern kitchens, bathrooms and living room flooring. New health and wellness spaces and a new fitness room will be created for residents. The current common laundry room, community room and management office will also be renovated. Bank of America, MassHousing and Citizens Bank are financing construction, with BoA also serving as the federal Low-Income Housing Tax Credit investor. Completion is scheduled for 2026. Eva White Apartments originally opened in 1967 and serves seniors and people with disabilities. The Boston Housing Authority holds a 99-year ground lease on the complex, which protects the property’s long-term affordability status. CSTO became the 99 percent owner of the property in December after securing the financing for the project. This venture marks the organization’s…

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Pinnacle Real Estate Brokers Sale of Two-Property Liquor Store Portfolio in Castle Rock, Colorado

Amy Works — Tue, 27 May 2025 13:40:23 +0000

CASTLE ROCK, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a two-property portfolio of operating liquor stores in Castle Rock. The portfolio includes Bubbles Liquor World, a 27,395-square-foot flagship store located off Interstate 25 and Meadow Parkway in Castle Rock, and Tiny Bubbles, a 4,000-square-foot satellite store on the east side of Castle Rock. The portfolio generates around $15 million in annual revenue. Levi Saxen and Jack Eberwein of Pinnacle Real Estate Advisors represented the undisclosed seller and undisclosed buyer in the off-market deal. The Pinnacle team secured SBA financing for both locations and structured long-term leases for the new operators, ensuring stability and continued success for all parties involved.

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Kaplan Career Academy Signs 38,500 SF Lease in Wappingers Falls, New York

Taylor Williams — Thu, 17 Apr 2025 13:38:24 +0000

WAPPINGERS FALLS, N.Y. — Kaplan Career Academy has signed a 15-year, 38,500-square-foot lease in Wappingers Falls, about 85 miles north of New York City. The school, which is part of the Greenburgh North-Castle Union Free School District, will relocate from nearby New Windsor to the building at 29 Marshall Road. The new space will serve as the new home for the Special Act School, which serves students with disabilities. Stephen Powers, Alexander Smith and Kate Whitman of OPEN Impact Real Estate represented Kaplan Career Academy in the lease negotiations. Thylan Associates represented the undisclosed landlord.

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Newcastle Partners Obtains $27.5M in Construction Financing for Mesa Linda Logistics Center in Hesperia, California

Amy Works — Fri, 21 Mar 2025 14:33:33 +0000

HESPERIA, CALIF. — Newcastle Partners has received $27.5 million in construction financing for Mesa Linda Logistics Center, a Class A industrial warehouse and distribution facility currently under construction in Hesperia. Scheduled for delivery in first-quarter 2026, the 408,997-square-foot property will offer a clear height of 36 feet, 54 dock-high doors, 57 trailer parking stalls, 215 auto parking spaces, an ESFR sprinkler system and a combined 12,000 square feet of office and mezzanine space. The project is situated on 17.5 acres and will offer access to freeways, including interstates 5 and 40, US-395, CA-18 and CA-189. Greg Brown, Samuel Godfrey and Allie Black of JLL Capital Markets secured the floating-rate, nonrecourse construction loan through a bank for the borrower.

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White Line Investments Acquires 2,818 SF Retail Building in Castle Rock, Colorado

Amy Works — Thu, 20 Mar 2025 13:41:23 +0000

CASTLE ROCK, COLO. — White Line Investments has purchased a 2,818-square-foot retail property at 21 N. Wilcox St. in Castle Rock. GPC LLC sold the asset for $1.3 million, or $479.06 per square foot. Built in 2021, the property is currently occupied by Granelli’s Pizzeria and Oasis Pet Salon. Charlie Cummings of Innovate Commercial Real Estate represented the buyer, which is a newly formed entity comprised of the property’s current tenants. John Propp of John Propp Commercial Group represented the seller in the deal.

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