CHARLOTTE, N.C. — A joint venture between Lincoln Property Co., Vision Ventures and Hornets Sports & Entertainment has acquired Queen City Quarter, a 302,324-square-foot, four-level mixed-use destination in Uptown Charlotte. Formerly known as EpiCentre, the property spans 3.2 acres at 210 E. Trade St., which sits directly between the Charlotte Convention Center and Spectrum Center, home arena of the NBA’s Charlotte Hornets. Hornets Sports & Entertainment owns the team and operates Spectrum Center. Vision Ventures owned Queen City Quarter from 2010 to 2015. Patrick Gildea, Matt Smith, Adam Russ and Erin Varol of CBRE’s Charlotte office brokered the transaction. The property originally opened in 2008 and features restaurants, shops, offices and entertainment venues but has been in decline in terms of occupancy and traffic in recent years. CBRE took the then-known EpiCentre out of receivership in 2021 and announced it was leading the redevelopment and rebranding of the property to Queen City Quarter in 2022. The joint venture will evaluate opportunities to reposition the asset to “better serve the surrounding community and evolving needs of Uptown Charlotte.” According to Queen City Quarter’s property website and social media accounts, current tenants include Lucky Strike, Fleming’s Steakhouse, Insomnia Cookies, Kitchen + Kocktails, …
BALTIMORE — McCormack Baron Salazar, an affordable housing developer and operator based in St. Louis, and the Housing Authority of Baltimore City have closed on financing for the next 150 apartments at Perkins Square, advancing the $398 million redevelopment of the former Perkins Homes in East Baltimore. Phases 5A and 5B, representing approximately $87 million in development costs, will include 111 income-restricted and 39 market-rate units. The first three phases of Perkins Square included 411 mixed-income units delivered between 2024 and 2025, while the 154-unit fourth phase is under construction with completion slated for 2027. Perkins Square is replacing Perkins Homes, a 629-unit public housing community built in 1942. Demolition began in 2021 as part of Baltimore’s broader Perkins-Somerset-Oldtown Transformation Plan, a 244-acre redevelopment backed by HUD Choice Neighborhoods funding that is replacing the former public housing while adding mixed-income residences, infrastructure, parks and a new school. Phase 5A will include 60 apartments with a total development cost of approximately $41.6 million. Phase 5B, with 90 apartments, carries a cost of approximately $45.7 million. Tenants in 67 of the planned 150 apartments will receive rental assistance through the Housing Choice Voucher Program, formerly known as Section 8, as part of …
STARKVILLE, MISS. — A joint venture between an affiliate of Monument Square Investment Group and funds managed by an undisclosed investment management firm has purchased The Social Block and Townhomes, a 962-bed student housing community located near the Mississippi State University campus in Starkville. The property offers 385 units in two- and four-bedroom apartment and townhome configurations. Shared amenities include a resort-style pool, 24-hour fitness center, business lounge, green space and grilling stations. The seller and terms of the transaction were not released.
DAHLONEGA, GA. — JLL has arranged the sale of Dahlonega Village, a Publix-anchored shopping center located at 23 Maxwell Lane in Dahlonega, which sits 65 miles northeast of Atlanta. A private investor purchased the property from Watkins Real Estate Group for $21.2 million. Jim Hamilton, Brad Buchanan and Charlie Merrigan of JLL represented the seller in the transaction, and Austin Sumner Properties represented the buyer. Built in 2024, Dahlonega Village sits on 13.4 acres and has direct access to Ga. Highway 400. The grocery-anchored shopping center was fully leased at the time of sale to tenants including Great Clips, The UPS Store, Lifestyle Nail Bar, Spice Wing, Jersey Mike’s Subs, Tropical Smoothie Café, Rachel Remington Design, Itala Pizza and Hacienda Bar & Grill. Publix has 19 years remaining on its initial lease term at the center, according to JLL.
WASHINGTON, D.C. — Howard University and a development team comprising Lowe, Affinius Capital, FLGA and Davenport Group have broken ground on The Hazel, an 11-story multifamily building in Washington, D.C.’s Shaw district. Situated on the grounds of Howard University’s former East Towers parking lot, The Hazel will include 504 residential units (including 40 affordable units), approximately 15,000 square feet of retail space and 246 below-grade parking spaces. Amenities will include a clubroom, fitness center and a rooftop patio with a partial glass-bottomed pool suspended between the east and west wings of the building. The Hazel is named after musician and Civil Rights figure Hazel Scott. The development team has executed a long-term ground lease with Howard University for the 1.8-acre project, which will feature a 25-foot-wide public plaza spanning a full block on W Street between 8th and 9th streets that will connect the school to the northern part of the Shaw neighborhood. JLL arranged $214.1 million in construction financing for the development, including $90 million in C-PACE financing. The project team, including HKS (architect) and Whiting-Turner (general contractor), plans to deliver The Hazel by fourth-quarter 2028.
APEX, N.C. — High Street Residential, the residential subsidiary of Trammell Crow Co., has delivered The Henley, a 370-unit apartment community located at 1211 Chapel Ridge Road in Apex, a suburb of Raleigh. The 22-acre property offers a mix of studio, one-, two- and three-bedroom apartments ranging in size from 580 to 1,361 square feet, with 13 units reserved for households earning 60 percent of the area median income (AMI). Monthly rental rates range from $1,325 to $2,445, according to Apartments.com. Amenities include a fitness center with a yoga studio, clubhouse, coworking space, resort-style pool, dog park and spa, reservable private dining room with a demonstration kitchen, community bike share program with smart e-bikes, EV charging stations and connectivity to the North Beavercreek Greenway. The design-build team includes Rule Joy Trammell+ Rubio (architect) and L.F. Jennings (general contractor). Greystar is managing The Henley on behalf of High Street.
CORAL GABLES, FLA. — The City of Coral Gables has purchased a medical office building located at 475–495 Biltmore Way in the city’s downtown district for $24 million. ShareMD sold the 53,029-square-foot property, which shares a city block with Coral Gables City Hall and the City’s Planning and Zoning Department. The City of Coral Gables, which now controls the entire block, has retained ShareMD’s property management affiliate, Medicus Asset Management LLC, to continue managing the building for an initial one-year term. Blanca Commercial Real Estate was the leasing agent for the property. In addition to the sale, ShareMD has announced it is rebranding to Parallel Medical Properties effective immediately. The firm owns and operates a 500,000-square-foot portfolio of medical office buildings in Florida and California.
GULF BREEZE, FLA. — Colliers has negotiated the $14 million sale of Live Oak Village, a 107,065-square-foot shopping center located at 1151 Gulf Breeze Parkway in Gulf Breeze, a beach town in Florida’s Panhandle. Brad Peterson and Whitaker Leonhardt of Colliers represented the seller, Exposition Properties, in the transaction. Chris Dozier of Kuebel Realty Co. represented the buyer, Dorsey Development. United Community Bank provided an acquisition loan for the New Orleans-based buyer. Live Oak Village is anchored by a dual-branded Bealls and Home Centric. Bealls has operated at the center for 28 years, and Home Centric joined the tenant roster in 2022. Other tenants include Highpoint Church, YMCA and Dollar General.
RALEIGH, N.C. — A partnership between national health club chain Life Time (NYSE: LTH) and locally based development firm Dewitt Carolinas has broken ground on Life Time Living at The Exchange Raleigh, a luxury multifamily tower anchored by an 80,000-square-foot Life Time athletic club and a 40,000-square-foot rooftop beach club. The companies plan to invest more than $200 million into the 20-story tower, according to Triangle Business Journal. The residential project represents Phase II of The Exchange Raleigh, a $1 billion, 40-acre master-planned mixed-use development in the state capital’s Midtown neighborhood. The development team, along with construction manager Consigli Construction, is aiming for both NGBS Green and Fitwel certifications for the project, which is set to deliver in fourth-quarter 2028. “By bringing Life Time’s incredible athletic country club and luxury living model to our community, we are delivering on our promise to make Midtown Raleigh a destination unlike any other,” says Todd Saieed, CEO of Dewitt Carolinas. Life Time Living at The Exchange Raleigh will offer 289 luxury apartments ranging in size from 610 to 2,040 square feet. Units will come equipped with blackout curtains , walk-in closets, work-from-home space and stainless steel kitchen appliances. The Life Time athletic club …
RESTON, VA. — Comstock Holding Cos. Inc. has obtained $299.1 million for the refinancing of the first three office towers within Reston Station, a 90-acre mixed-use development that surrounds the Wiehle-Reston East Metro Station in Northern Virginia. The office towers — 1900, 1902 and 1906 Reston Metro Plaza — were fully leased at the time of loan closing to firms including Google, ICF, CARFAX, FM and Amentum. Eastdil Secured Savills arranged the financing on behalf of Comstock Partners LC, a privately held affiliate of Comstock. Bank of America served as lead manager and sole bookrunner for the refinancing, which was used to fully repay a $292.9 million loan provided by Blackstone Real Estate Debt Strategies.
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