JACKSONVILLE AND ST. AUGUSTINE, FLA. — JLL Capital Markets has arranged $100 million in bridge financing for two multifamily properties in North Florida: The Pointe at Davis Creek, a 288-unit, garden-style community located at 12175 Philips Highway in Jacksonville, and The Bradley St. Augustine, a 250-unit, garden-style community located at 350 Bay Laurel Drive in St. Augustine. Matthew Lawton, Travis Anderson, Melissa Quinn, Gregg Shapiro, Dan Kearns, Kelsey Bawcombe, Streeter Simmons and Rob Rothaug of JLL secured floating-rate construction take-out financing through TPG Real Estate Credit on behalf of the borrower, Waypoint Residential. Both properties were delivered in the first quarter of 2025 and feature amenity packages such as resort-style swimming pools with tanning ledges and cabanas; 24-hour fitness centers with yoga/spin studios; pet spas; outdoor gathering areas with fire pits and grilling stations; resident lounges with coffee bars and coworking spaces; and onsite leasing and management offices. Unit interiors include floorplans with walk-in closets, gourmet kitchens with granite countertops and islands, vinyl plank flooring, energy-efficient stainless steel appliances, full-size washers and dryers and private patios/balconies.
GREAT FALLS, VA. AND QUEENSTOWN, MD. — Cushman & Wakefield has brokered the $89 million sale of two assisted living and memory care facilities in Virginia and Maryland. The portfolio includes The Residence at Colvin Run, a 62-unit community built in 2022 and located at 1131 Walker Road in Great Falls, and Queenstown Landing, a 68-unit community built in 2021 and located at 120 Shoreway Drive in Queenstown. The facilities were 94 percent occupied at the time of sale. Joshua Jandris, Brett Gardner, Robert Bracci and Evan Jakobsze of Cushman & Wakefield represented the sellers — Buvermo Investments, SHA Capital, Verity Commercial and INDIE — in the transaction. The buyer, Westlake Village, Calif.-based LTC Properties, retained IntegraCare to operate the properties.
ATLANTA — The Duracell Co. has relocated its Global Headquarters for Research and Development to Science Square Labs, a 368,213-square-foot laboratory and office tower in Midtown Atlanta. Duracell’s relocation from Bethel, Conn., stems from a multi-year initiative first announced by Georgia officials in February 2025. The project represents a $56 million investment and is projected to generate 100 new jobs in the state. The facility is officially open and operational following a ribbon-cutting ceremony attended by Mayor Andre Dickens. The Atlanta center serves as Duracell’s global innovation hub, where scientists and engineers work across materials science, cell design, laboratory prototyping and device characterization to advance battery performance, quality and safety. Phase I of Science Square, which is anchored by the 13-story Science Square Labs, was delivered in 2025. At full build-out, the district’s master plan allows for approximately 1.8 million square feet of lab and office space, 500 residences and 25,000 square feet of retail space. Additional tenants at Science Square Labs include Georgia Tech and Emory biomedical engineering faculty labs, a Shriners Children’s research institute and utility infrastructure services company Osmose. Science Square Labs is developed and owned by the Trammell Crow Company (TCC) in a joint venture with Georgia …
WASHINGTON, D.C. — Jemal Real Estate Strategies and DivcoWest have formed a joint venture to complete an office-to-residential conversion project in Washington, D.C.’s West End district. Madison Realty Capital provided a $40 million loan to fund the acquisition and predevelopment costs. Upon completion of the project, the existing 342,000-square-foot office building located at 1255 23rd St. NW will feature approximately 323 apartments, as well as up to 36 affordable units. Roughly 22,000 square feet of ground-floor retail space will remain in place. Additional project details will be announced as plans advance. The project team includes FILLAT+ Architecture and CBG Building Co.
ATHENS, GA. — Northwood Ravin has launched leasing at Magnolia, a 179-unit “student-focused apartment community” underway at the intersection of Broad Street and Milledge Avenue in downtown Athens, which sits adjacent to University of Georgia’s (UGA) North Campus. In addition to studio, one-, two- and three-bedroom apartments, the development will feature a Publix grocery store that represents the first national grocer to operate in downtown Athens, according to the Charlotte-based developer. Magnolia will also include indoor and outdoor amenities for residents, including coworking space with a coffee bar; a wellness lounge; pool and courtyard with cabanas, a double jacuzzi, jumbotron, putt-putt course and multiple grilling stations; game room; and a modern fitness center with two private training and wellness studios. Northwood Ravin expects to open Magnolia ahead of UGA’s 2027-28 school year.
BOYNTON BEACH, FLA. — A public-private partnership between the City of Boynton Beach and Hyperion Group, Winter Properties, WREP and Silverstein Properties has broken ground on Ocean One, a 371-unit apartment community in the city’s downtown district. The development team financed the development using equity funding from affiliates of Cantor Fitzgerald and Silverstein Properties and construction financing from Madison Realty Capital. Additionally, the Boynton Beach Community Redevelopment Agency approved up to $11.5 million in tax increment revenue funding over a 14-year term for the project, with the ownership group agreeing to provide 110 public parking spaces at Ocean One in perpetuity. Designed by Miami-based Arquitectonica, Ocean One will feature high-end apartments and 25,500 square feet of ground-level retail space. Amenities will include a resort‑style pool deck, fitness center, resident lounge, coworking spaces, outdoor recreation areas, package and mail facilities and onsite management services. The construction timeline was not released.
MCLEAN, VA. — JLL has arranged the sale of a 10-story, Class A office building located at 8270 Greensboro Drive in McLean, part of Northern Virginia’s Tysons submarket. Andrew Weir, Kevin Byrd, Jim Meisel, Dave Baker and Trey Ramsey of JLL represented the seller, Nuveen Real Estate, in the transaction. Onward Investors purchased the 166,393-square-foot office building for an undisclosed price. Built in 1999 and renovated in 2021, 8270 Greensboro Drive was 96 percent leased at the time of sale to 13 tenants. Amenities include a redesigned lobby and elevator entrance, tenant lounge and kitchenette with a 100-person indoor/outdoor conference center, furnished outdoor patio, renovated common corridors and a restaurant on the ground level.
WEST PALM BEACH, FLA. — Marcus & Millichap has brokered the sale of a four-building industrial property located at 2348-2360 N. Military Trail in West Palm Beach. Pugliese Creative Ventures purchased the 43,125-square-foot property from PMD Capital Management for $11.4 million. Douglas Mandel, Zach Levine and Cody Hershey of Marcus & Millichap represented the seller and procured the buyer in the transaction. Built in 1989, the property is situated on 4.2 acres and has suites ranging in size from 1,700 to 7,300 square feet, as well as 54 grade-level loading bays with overhead doors, three two-way entrances and 160 parking spaces.
ATLANTA — Houston-based Hines has announced that Hines Global Income Trust Inc. (HGIT) has purchased 99 West Paces, a 312-unit luxury apartment tower in Atlanta’s Buckhead district. The seller and sales price for 99 West Paces were not disclosed, but Atlanta Business Chronicle reports that the 13-story apartment property traded for approximately $240 million. The buyer’s affiliate property management firm Hines Living will operate the luxury community, which was 95 percent occupied at the time of sale. Built in 2023, 99 West Paces features one-, two- and three-bedroom apartments, as well as some penthouse units, a wellness club and fitness center, pet spa, coworking spaces and a sky lounge. The property fronts West Paces Ferry Road and is within walking distance to a Whole Foods Market, Buckhead Village and Buckhead Theatre. Michael Harrison and Vikram Mehra of Hines’ U.S. Sunbelt team led the acquisition, which represents Hines’ first acquisition in the Atlanta market. The acquisition of 99 West Paces was part of a $500 million announcement that also included HGIT’s purchase of Bishop Arts Portfolio in Dallas and Castings Commerce Center in Columbus, Ohio.
MIAMI — Miami Design District Associates and BH3 Management have formed a joint venture to develop The Ursa, a 20-story office tower in Miami’s Design District. The development was previously announced, but the newly formed joint venture has expanded the square footage of the project’s original vision by 40 percent. Designed by Arquitectonica and Arsham Studio, The Ursa will include 250,000 square feet of Class A office space with 14-foot ceilings and a suite of amenities, including an amenity deck, art installations and fitness facilities. The property will also include 15,000 square feet of ground-level retail space and onsite parking. Construction is expected to begin in 2027, with completion anticipated in 2029.
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