DALLAS — Locally based investment firm CanTex Capital has sold a portfolio of eight industrial outdoor storage facilities totaling roughly 44 acres that are located across the Dallas-Fort Worth metroplex. The portfolio was fully leased at the time of sale. Eastdil Secured represented CanTex Capital in the transaction. The buyer was San Francisco-based Stockbridge Capital Group.
TOLEDO, OHIO — Welltower Inc. (NYSE: WELL) has announced that the Toledo-based REIT is exiting the outpatient medical property management business following a portfolio sale to Remedy Medical Properties and Kayne Anderson Real Estate. The portfolio comprises approximately 18 million square feet of outpatient medical facilities across 296 properties in 34 states. Welltower says that the transaction will total $7.2 billion and will be completed in tranches through mid-2026, with the first tranche selling for $2 billion. This acquisition establishes the Remedy Medical and Kayne Anderson Real Estate partnership as the nation’s largest owner of outpatient medical buildings, with more than 52.4 million square feet across approximately 1,104 properties in 44 states. “This acquisition reinforces our position as leading institutional investors in the outpatient healthcare sector and underscores our long-standing, successful partnership with Remedy,” says Al Rabil, CEO of Boca Raton, Fla.-based Kayne Anderson. “We remain focused on building upon our history of delivering superior risk-adjusted returns for investors, while advancing the delivery of high-quality healthcare across the country.” Remedy Medical is assuming all operational responsibilities from Welltower, including property management and leasing functions. The portfolio was 94 percent occupied at the time of the acquisition announcement. Welltower will retain a …
WOODSTOCK, GA. — Mesa Capital Partners has broken ground on Sutton Row, a 290-unit apartment community located in the Atlanta suburb of Woodstock. Cadence Bank and Atlantic Union Bank are providing construction financing for the development. The project team comprises Focus Design Interiors (interior designer), English & Associates (architect) and Tri-Bridge Residential (general contractor). Amenities at Sutton Row will include a multi-story clubhouse with a resident coffee bar and market, coworking lounge with private conference space and a fitness center that features a yoga studio and spin room. Residents will also have the chance to enjoy various outdoor spaces such as a resort-style swimming pool, covered pavilion with grilling stations and direct access to the future Cherokee County multiuse trail. Leasing is expected to begin in late 2026, with full completion scheduled for 2027.
COLUMBUS, OHIO — Columbus, Ohio-based Huntington Bancshares Inc. (NASDAQ: HBAN) has entered into an agreement to acquire Cadence Bank (NYSE: CADE), which has headquarters in Houston and Tupelo, Miss., in an all-stock merger of regional banks that is valued at $7.4 billion. Under the terms of the agreement, Huntington will issue 2.475 shares of common stock for each outstanding share of Cadence common stock. Based on Huntington’s closing price of $16.07 per share on October 24, the last full day of trading before the deal was announced, the consideration implies a purchase price of $39.77 per share. Following the closing, which is expected to occur in the first quarter of 2026, Cadence Bank teams and branches will operate under the Huntington Bank name and brand. Cadence currently has about 390 locations across Texas and the surrounding Southern United States, and the new banking entity will have about $276 billion in assets under management. “This is an important next phase of growth for Huntington,” says Steve Steinour, chairman, president and CEO of Huntington Bancshares. “This partnership will extend the reach of our full franchise to 21 states and into new, high-growth markets for which we have a powerful playbook. Today’s announcement …
CHICAGO — Marcus & Millichap has brokered the $15.5 million sale of a property in Chicago comprising 22 multifamily units and five commercial suites. Located at 1542 N. Damen Ave. and 2010 W. Pierce Ave. in the Wicker Park/Bucktown neighborhood, the asset is within walking distance of the CTA Blue Line and multiple bus routes. The residential units include a mix of one- and two-bedroom floor plans. The commercial spaces are fully leased to La Colombe, Urbanbelly, Blue Line Lounge & Grill, Eccentric Fitness and the Kadampa Meditation Center. Kyle Stengle of Marcus & Millichap represented the seller and procured the buyer, Stocking Urban LLC.
AUBURN HILLS, MICH. — Automaker Stellantis (NYSE: STLA), parent company of brands including Jeep, Dodge and Ram, has unveiled plans to invest $13 billion over the next four years to grow its business in the U.S. market and increase its domestic manufacturing footprint. The investment, the largest in the company’s 100-year U.S. history, will support the introduction of five new vehicles across the brand portfolio; production of the all-new four-cylinder engine; and the addition of more than 5,000 jobs at plants in Illinois, Ohio, Michigan and Indiana. Stellantis says the investment will increase its annual finished vehicle production in the United States by 50 percent over current levels. The new product launches will be in addition to 19 refreshed products across all U.S. assembly plants and updated powertrains planned through 2029. In Illinois, Stellantis plans to invest more than $600 million to reopen the Belvidere Assembly Plant to expand production of the Jeep Cherokee and Jeep Compass for the U.S. market. Initial production launch is expected in 2027, and the company anticipates the creation of roughly 3,300 new jobs. With an investment of nearly $400 million, Stellantis plans to move assembly of an all-new midsize truck from Belvidere to the …
By Taylor Williams Dallas-Fort Worth (DFW) is a multifamily powerhouse, and after nearly three years of elevated interest rates, massive volumes of new deliveries and stagnated trading activity, the metroplex’s investment sales market may soon be showcasing that alpha status once again. Of course, that sentiment was prevalent at the very beginning of the year too. Optimism for lower interest rates and pro-growth policies understandably accompanied the arrival of the second Trump administration. Local factors, such as the peaking of the wave of new supply and the ever-steady flow of jobs and people into the metroplex, augmented that sentiment such that many multifamily lenders and investors entered 2025 with considerably more ebullience following a couple of rough years in 2023 and 2024. “Coming out of the gates, things felt pretty good, but a lot of this year’s volatility was based on [interest] rate movement, which was primarily based on geopolitical issues,” says Drew Kile, executive managing director of investments at Institutional Property Advisors (IPA), a division of Marcus & Millichap. “Had rates come down methodically more like the last two months, there would have been less of an impact. It’s hard for buyers to make decisions when rates are whipsawing …
ANNAPOLIS, MD. — Federal Realty Investment Trust (NYSE: FRT) has completed the acquisition of the retail center situated within Annapolis Town Center in Anne Arundel County, roughly 30 miles outside Washington, D.C. Federal Realty, a REIT based in North Bethesda, Md., purchased the property for $187 million. According to local reporting by the Capital Gazette, PGIM Real Estate was the seller. Anchored by Whole Foods Market, Annapolis Town Center totals 480,000 square feet. Other tenants at the property include a Life Time fitness club, Anthropologie, Sephora, RH (formerly Restoration Hardware), True Food Kitchen and Williams Sonoma. Target shadow-anchors the acquired portion of Annapolis Town Center. Greenberg Gibbons Commercial developed the mixed-use Annapolis Town Center property in 2008, with development costs estimated at $500 million. In addition to the retail component, the development features office space, luxury condominiums and apartments. The Capital Gazette reports that PGIM acquired the property from Greenberg Gibbons in 2018 for an undisclosed price. This acquisition marks the continuation of Federal Realty’s growth of its retail portfolio; the firm also acquired Town Center Plaza and Town Center Crossing in Kansas earlier this year. Federal Realty owns 102 properties that comprise approximately 3,500 tenants across 27 million commercial square feet, as well as approximately …
NASHVILLE, TENN. — Oracle Corp. (NYSE: ORCL) has partnered with Nobu Hospitality, a Miami Beach, Fla.-based operator whose concept is rooted in Japanese culture, for a new hotel and restaurant on its new corporate headquarters campus in Nashville. According to local media outlet The Tennessean, Oracle’s Nashville project is valued at roughly $1.2 billion. Designed in collaboration with architecture firm Foster + Partners, the new hotel will feature 120 rooms and suites. Guests will have access to a Nobu restaurant on the lobby level, as well as flexible meeting and event spaces for both intimate gatherings and larger occasions. The hotel will also offer a lobby café, fitness center and spa facilities and a rooftop infinity rooftop pool with curated food-and-beverage service. “We’re excited to bring the Nobu lifestyle to Nashville’s East Bank, a vibrant district ready for growth,” says Trevor Horwell, CEO of Nobu Hospitality. “After much anticipation and requests from our loyal Nobu customers, partnering with Oracle is a perfect match. Nashville’s rich culture and culinary scene make it an ideal home for Nobu, and we can’t wait to create a destination that embodies the city’s spirit and our unique experience.” Oracle, an IT company known for its …
BOSTON — A joint venture between BXP (NYSE: BXP), formerly Boston Properties, and Delaware North, a privately owned hospitality and entertainment company, has received a $465 million loan for the refinancing of a portion of The Hub on Causeway. The 1.5 million-square-foot mixed-use development is located in the West End neighborhood of Boston. Situated on the site of the former Boston Garden arena, the original home arena of the Boston Bruins and Boston Celtics, The Hub on Causeway is now a transit-oriented development that features 811,000 square feet of office space and 440 luxury apartments, as well as 250,000 square feet of retail space and a 60,000-square-foot Star Market grocery store. An affiliate of Verizon Communications anchors the development on a 20-year lease. Wells Fargo Bank, Morgan Stanley Bank and Bank of America provided the loan to BXP and Delaware North. The joint venture refinanced The Hub on Causeway’s office tower and “podium,” which is the lower section that houses a food hall, creative office space and a movie theater. “We are pleased to complete this financing, which not only enhances the strength and flexibility of our balance sheet, but also demonstrates our access to attractively priced capital in the secured …