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DevelopmentGeorgiaMixed-UseMultifamilySoutheastStudent Housing

Northwood Ravin Launches Leasing at Publix-Anchored Student Housing Development in Athens, Georgia

by John Nelson

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.

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DevelopmentFloridaMixed-UseMultifamilySoutheast

Public-Private Partnership Breaks Ground on 371-Unit Apartment Community in Boynton Beach, Florida

by John Nelson

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.

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AcquisitionsOfficeSoutheastVirginia

JLL Arranges Sale of 10-Story Office Building in Northern Virginia’s Tysons Region

by John Nelson

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.

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AcquisitionsFloridaIndustrialSoutheast

Marcus & Millichap Brokers $11.4M Sale of Industrial Property in West Palm Beach

by John Nelson

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.

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AcquisitionsGeorgiaMultifamilySoutheast

Hines Acquires 99 West Paces Apartments in Atlanta for $240M

by John Nelson

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.

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DevelopmentFloridaOfficeSoutheast

Miami Design District Associates, BH3 Partner to Develop 20-Story Office Building

by John Nelson

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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AcquisitionsFloridaRetailSoutheast

First Washington Realty Sells Two Miami Shopping Centers to Publix Super Markets

by John Nelson

MIAMI — First Washington Realty (FWR), a shopping center owner-operator based in Bethesda, Md., has sold two Publix-anchored shopping centers in Miami to Publix Super Markets Inc. The sales price was not disclosed. The properties include Airpark Plaza, a 171,443-square-foot shopping center near Miami International Airport at 5715 N.W. 7th St., and The Shoppes at Quail Roost, a 73,550-square-foot center located at 20201 S.W. 127th Ave. on the city’s south side. Both properties were fully leased at the time of sale.

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LoansMultifamilySoutheastVirginia

Walker & Dunlop Arranges $86.5M Refinancing of New Apartment Community in Richmond

by John Nelson

RICHMOND, VA. — Walker & Dunlop has arranged an $86.5 million loan for the refinancing of Chasen, a new 352-unit apartment community located in the Scott’s Addition neighborhood of Richmond. Alexandra Huffman, Justin Nelson, Andrew Tapley, P.J. Feichtmeier, Eric Norris and Jared Diedrich of Walker & Dunlop arranged the variable-rate, interest-only bridge financing through a private credit lender on behalf of the borrower, locally based Capital Square. Fully delivered earlier this year, Chasen offers studio, one-, two- and three-bedroom residences, along with more than 5,000 square feet of ground-floor retail space. Amenities include a resort-style pool, fitness center, rooftop terrace, club room with a golf simulator, whiskey lounge, coworking center, dog wash station and courtyards.

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DevelopmentFloridaSoutheastStudent HousingTennessee

Subtext Completes Student Housing Developments in Florida, Tennessee

by John Nelson

ORLANDO, FLA. AND KNOXVILLE, TENN. — Subtext has completed two student housing developments in Florida and Tennessee. Projects include VERVE Orlando, a 626-bed community located at 3133 N. Alafaya Trail near the University of Central Florida campus in Orlando; and EVER Knoxville, a 498-bed property located at 1919 Lake Ave. near the University of Tennessee campus in Knoxville. VERVE Orlando spans 446,078 square feet and offers 200 units in studio through five-bedroom configurations. Shared amenities include a 24-hour fitness center, dedicated yoga room and wellness suite with sauna and meditation rooms; a courtyard pool; outdoor green space with fire pits and grilling stations; a karaoke lounge; golf simulator; speakeasy with arcade games; study lounge with private and group study pods, an outdoor study breezeway and a podcast and content creation room; lobby coffee bar; and a pet spa. VERVE Orlando was developed in partnership with FrontRange Capital Partners and Nuveen Real Estate. Financing was provided by Simmons Bank. Additional members of the development team included Dwell Design Studio, ESG Architecture & Design, Kimley-Horn and Associates and Live Oak Contracting. The 14-story EVER Knoxville development spans 329,294 square feet and offers 136 units in one- through-five-bedroom configurations. Shared amenities include a …

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DevelopmentFloridaLeasing ActivityRetailSoutheast

Walmart to Open 40,344 SF Grocery Store in Metro Miami

by John Nelson

DORAL, FLA. — Terra has signed Walmart to a 40,344-square-foot retail lease at Doral Atrium, a 78,000-square-foot lifestyle retail development in Doral, a western suburb of Miami. Walmart plans to open a new neighborhood-format grocery store at the project. Construction of the new Walmart Neighborhood Market is expected to begin this fall, with an anticipated opening in 2027. Other committed tenants at Doral Atrium include PNC Bank, Bonchon Chicken, Sushi Mas, Tremble Pilates and The Good Feet Store. Jonathan Carter and Pablo Camposano of Colliers are handling the leasing assignment at the retail center.

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