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111-Congress
AcquisitionsOfficeTexasTop Stories

Canyon Creek Acquires One Eleven Congress Office Tower in Downtown Austin for $208M

by Abby Cox

AUSTIN, TEXAS — Canyon Creek Real Estate has acquired One Eleven Congress, a 533,711-square-foot office tower located in downtown Austin, for $208 million. Eastdil Secured Savills represented the seller, Atlanta-based Cousins Properties (NYSE: CUZ), in the transaction. “One Eleven Congress is a well-established and highly regarded property that provides Canyon Creek with an exceptional entry into the Austin market,” says Ron Welborn, partner at Canyon Creek. “We are excited to build upon the property’s strong reputation by enhancing the tenant experience and creating an environment that continues to meet the evolving needs of both existing and future tenants.” Built in 1987, One Eleven Congress is a 30-story building that’s situated at the gateway between Austin’s Central Business District and the Lady Bird Lake waterfront. According to the Austin Business Journal, the office tower was 84 percent leased as of June 2025, with tenants including RigUp, Disco, Husch Blackwell LLP and Wells Fargo. The building also features Fareground, a ground-floor food hall with restaurants such as Austin Rotisserie, Ciccio Bomba, Desnudo, Four Brothers and Taco Pegas, among others. ELM Restaurant Group managed Fareground upon its initial opening in January; Richard Sandoval Hospitality took over management after the September 2021 opening.  Additional amenities …

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AcquisitionsAffordable HousingGeorgiaSoutheast

JLL Brokers $147M Sale of Seniors Housing Portfolio in Metro Atlanta

by John Nelson

ATLANTA — JLL’s National Seniors Housing Capital Markets team has brokered the $147 million sale of a five-property seniors housing portfolio in submarkets north of Atlanta. The properties include Brickmont at Woodstock in Woodstock, Brickmont at Acworth in Acworth, Brickmont at Johns Creek in Cumming, Brickmont at West Cobb in Marietta and Brickmont at Roswell in Alpharetta. The portfolio comprises 611 units and 701 beds of assisted living and memory care, as well as amenity packages including theaters, restaurant-style dining, bistros, bars, art studios, game rooms and landscaped courtyards. An institutional investor acquired the portfolio in an all-cash transaction from a joint venture between Centric Development and Sage Equities. Centric Development developed the properties between 2018 and 2022. Jay Wagner, Rick Swartz, Aaron Rosenzweig, Tim Hosmer, Erik Von Hamm, Anthony Fertitta, Joel Mendes and Peter Yorck of JLL represented the seller in the transaction. The new ownership has retained Claiborne Senior Living to continue to operate the communities post-acquisition.

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Camden_Los-Angeles
AcquisitionsCaliforniaMultifamilyTop StoriesWestern

Camden Property Trust Sells $1.6B Multifamily Portfolio in Southern California

by Hayden Spiess

HOUSTON — Houston-based multifamily owner, developer and manager Camden Property Trust (NYSE: CPT) has completed the sale of a multifamily portfolio in Southern California for $1.6 billion.  The portfolio comprises 11 properties spanning 3,620 units. An entity managed by BlackRock Inc. (NYSE: BLK) was the buyer. Trailing 12-month occupancy across the portfolio was 96 percent at the time of sale.  Properties in the portfolio include The Camden, a 287-unit community in the Hollywood entertainment district of Los Angeles that features an Equinox gym on the ground level; Camden Crown Valley, a 380-unit community in Mission Viejo; Camden Landmark, a 469-unit community in Ontario; and Camden Hillcrest, a 132-unit community in San Diego’s Hillcrest neighborhood. Blake Rogers, Alexandra Caniglia, Kip Malo and Dillon Bergum of JLL Capital Markets brokered the transaction. This marks one of the largest multifamily transactions in Southern California to date, according to the brokerage.  “Southern California has long been one of the most durable multifamily markets in the country,” says Derek Helgeson, co-head of U.S. real estate at BlackRock. “Camden has built and operated these communities to an exceptionally high standard, and we are grateful to them for a thoughtful and collaborative sale process.” Additionally, Kevin Mackenzie, …

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DOE-Site_Paducah-Ky
Data CentersDevelopmentIndustrialKentuckySoutheastTop Stories

Brookfield, Partner Coalition Plan $100B Data Center Campus in Western Kentucky 

by Hayden Spiess

PADUCAH, KY. — Brookfield (NYSE: BN) has announced plans to develop a $100 billion data center campus in western Kentucky with a partnership coalition. The coalition also includes NextEra Energy Inc. (NYSE: NEE), Big Rivers Electric Power Corp., Jackson Purchase Energy Cooperative and Paducah Power System.  The project will redevelop portions of the U.S. Department of Energy (DOE) Paducah Site, which was originally built in the 1950s to produce uranium for nuclear weapons. The facility, which closed in 2013, also went on to produce enriched uranium for nuclear reactors.  The AI data center campus will support up to 1.8 gigawatts (GW) of utility capacity and over 1.2 GW of compute capacity at full build-out. The project will be backed by up to 4.6 GW of dedicated generation resources. “This new campus helps secure our nation’s position as a global leader in innovation,” says Chris Wright, U.S. Energy Secretary. “It’s difficult to overestimate the importance of this project.” The DOE first issued a request for offers for redevelopment of the Paducah site in November 2025. Brookfield was selected as the developer and operator for the campus, and NextEra Energy was selected to build and own the energy infrastructure, including up to …

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Data CentersDevelopmentTexasTop Stories

Meta, BlackRock to Develop $14B Data Center Campus in El Paso

by John Nelson

EL PASO, TEXAS — Meta Platforms Inc. (NASDAQ: META), the parent company of Facebook, Instagram and WhatsApp, and BlackRock Inc. (NYSE: BLK) have formed a joint venture to develop and operate a data center campus in El Paso. The companies project that total development costs for the 1-gigawatt (GW) campus will be approximately $14 billion. Meta will provide construction management, administrative and property management services for the campus and will be its initial sole occupant upon completion. The new data center campus “will play an essential role in bringing Meta’s AI technologies to life,” according to the companies. “Building the infrastructure for superintelligence is key to making sure the benefits of this technology are distributed to everyone,” says Mark Zuckerberg, founder and CEO of Meta. “Our partnership with Larry [Fink] and the team at BlackRock allows us to move faster and at greater scale — pairing our deep expertise in designing and operating world-class data centers with one of the world’s leading infrastructure investors.” Construction is currently underway in El Paso with approximately 2,300 workers onsite, according to Meta. The Menlo Park, Calif.-based company estimates that the project will employ 4,000 construction workers at its peak and 300 staffers once fully …

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AcquisitionsIndustrialTexas

Partners Brokers Sale of 14,572 SF Industrial Building in Northwest Houston

by Taylor Williams

HOUSTON —Partners Real Estate has brokered the sale of a 14,572-square-foot industrial building in northwest Houston. According to LoopNet Inc., the building at 5414 Larkin St. was originally constructed in 1983. Wyatt Huff and Hunter Stockard of Partners represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

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Avila-Apartments-Oviedo-Florida
FeaturesMultifamily

The Middle-Income Housing Gap Is Hiding in Plain Sight: Buildings We’ve Already Built

by Taylor Williams

By Danny Fishman, CEO, co-founder, GAIA Real Estate The country’s broader middle class is facing a housing crisis: a growing gap in available, high-quality rental options. High-demand markets like Miami and New York City are now appearing in headlines on two lists at once. Miami is called out as oversupplied but is also pointed to as one of the least affordable rental markets in the country. New York City has a supply shortage with population decreasing in recent years, and still rents go up.   The new supply of rental units flooding Sun Belt markets are mostly in Class A buildings with full amenities. Therefore, less quality options are available to middle-income renters. Much of the industry is shying away from this gap, but it’s crucial that developers, cities and states start pushing toward it. Major institutional investors have historically chased luxury or affordable housing at the extremes, partially due to the real estate market’s — both private and public sectors — failure to foresee the widening income gap. As the economy split, households got pushed toward the higher and lower ends, while the middle thinned out. At the same time, renters and buyers were looking for apartments with nice …

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AcquisitionsFloridaNew YorkNortheastRetailSoutheastTop Stories

Mavis Tire Agrees to Acquire Pep Boys from Icahn Enterprises for $700M

by Kristin Harlow

WHITE PLAINS, N.Y. AND SUNNY ISLES BEACH, FLA. — Mavis Tire Express Services Corp. and Icahn Enterprises LP (NASDAQ: IEP) have entered into a definitive agreement under which a subsidiary of Mavis will acquire Pep Boys from Icahn Automotive Group LLC for approximately $700 million in cash. IEP will retain the owned real estate previously transferred to IEP from Pep Boys, as well as the AAMCO Transmissions and Precision Tune Auto Care businesses. Formally named The Pep Boys-Manny, Moe & Jack Holding Corp., Pep Boys is an automotive service company offering tires, repairs, oil changes and maintenance services from nearly 800 retail locations nationwide. Navy veterans Emanuel “Manny” Rosenfeld, Maurice “Moe” Strauss and Graham “Jack” Jackson founded the company in 1921. According to Mavis, the acquisition expands its presence in new and existing markets, particularly across the Western United States where Pep Boys maintains a significant retail footprint. The deal grows Mavis’ network to more than 4,400 service center locations across the United States and Canada. “Pep Boys brings a loyal customer base, deep-rooted market presence across the United States and a distribution network that will meaningfully enhance our supply chain nationwide,” says David Sorbaro, co-CEO of Mavis. “As part …

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AcquisitionsIndustrialTexas

Partners Brokers Sale-Leaseback of 55,700 SF Industrial Building in New Caney, Texas

by Taylor Williams

NEW CANEY, TEXAS — Partners Real Estate has brokered the sale-leaseback of a 55,700-square-foot industrial building in New Caney, a northeastern suburb of Houston. According to LoopNet Inc., the building at 18913 Phillip Way was constructed in 2020 and features 30-foot clear heights. Griff Brandy, Ryan Osborn, Wyatt Huff and Hunter Stockard of Partners represented the seller and tenant, New Caney Beverage, in the transaction. The buyer and sales price were not disclosed.

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Eglin-Pull-Quote
Company NewsIndustrialNew YorkNortheastTop Stories

Brookfield, CPP Investments Agree to Acquire LXP Industrial for $5.2B

by Taylor Williams

NEW YORK CITY AND TORONTO — A partnership between Brookfield Asset Management (NYSE: BAM) and the Canadian Pension Plan (CPP) Investment Board has agreed to acquire LXP Industrial Trust (NYSE: LXP) in an all-cash transaction valued at $5.2 billion. The deal is expected to close in the fourth quarter. The price tag includes LXP’s net debt and preferred equity. In addition, the terms of the deal call for LXP shareholders to receive $61.20 per share in cash, which represents a premium of 12.3 percent over the REIT’s 30-day volume weighted average share price (VWAP) and a 19.8 percent premium over the company’s 90-day VWAP. Both figures are based on time frames that ended Friday, July 17. LXP has agreed to suspend payment of common share dividends until the earlier of the closing of the transaction or the termination of the definitive agreement. The agreement also includes a 40-day “go-shop” period that expires on August 28 at 11:59 p.m. EST, during which time LXP and its advisors may actively solicit and consider alternative acquisition proposals and engage in discussions with third parties. “LXP has assembled a high-quality industrial portfolio with modern logistics assets in attractive markets,” said Lowell Baron, CEO of …

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