News

32-Story Miami Condo Tower Tops Out

Florida & Gulf Coast + Apartment Buildings

Construction of 600 Miami Worldcenter, a 32-story fully sold-out condominium development in Downtown Miami, has reached its structural peak. Developed by a joint venture between Merrimac Ventures and Aria Development Group, the project is slated for completion in 2026. Rising at 600 NE 1st Avenue, the tower will deliver 606 fully furnished residences with no rental restrictions. The building...

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Parkway-Led Team Launching $120M Lake Nona Mixed-Use Venture

Florida & Gulf Coast + Apartment Buildings

Parkway, in partnership with Silverpeak and Everest Equity Group, has acquired 22 acres in Lake Nona for $15 million. The purchase paves the way for Bennett Place, a $120 million mixed-use development located just minutes from Orlando International Airport. Bennett Place is planned to deliver 350 multifamily units, three separate 1-acre ground lease pads, and...

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Concord Secures Financing for Knoxville-Area Townhome Project

Atlanta & Southeast + Apartment Buildings

Concord Summit Capital (CSC) arranged a $44 million revolving construction financing package for Meadows at Pearson Springs, a 100-unit for-sale townhome community in Maryville, TN, a suburb of Knoxville.   CSC’s Justin Neelis secured the financing on behalf of Home Development, Inc. (HDI). The capital structure allows the builder to fund vertical construction and repatriate equity...

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Dwight Mortgage Trust Finances $44M for Two Washington Developments

Seattle & Northwest + Apartment Buildings

Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, provided a $44 million bridge loan to refinance two nearly completed multifamily communities – Bode Columbia City and Bode Tacoma Dome – together comprising 244 units in Seattle and Tacoma, Washington. Bode Columbia City is an 80-unit property featuring one- and two-bedroom units, with amenities including...

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Nauset Completes Cambridge TOD for Acorn Holdings

Boston & New England + Apartment Buildings

Nauset Construction has completed 605 Concord at Fresh Pond, a mixed-use transit-oriented development containing 49 apartments and 2,500 square feet of street-level retail in Cambridge, MA for developer Acorn Holdings LLC. Located near Alewife Station, Fresh Pond Park and Danehy Field, the community offers immediate access to public transit, green space and retail amenities, including...

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Marcus & Millichap Arranges Sale of Apartment Building in Spokane

Seattle & Northwest + Apartment Buildings

Marcus & Millichap has arranged the sale of Lincoln Townhomes, a 10-unit apartment property located in Spokane, Washington. The asset sold for $2.1 million. The buyer, a limited liability company, was secured and represented by Zach Howe, an investment specialist in Marcus & Millichap’s Seattle office. Lincoln Townhomes is located at 3270 N Lincoln St....

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Adams Advances $1.8B into FY2026 Budget for Affordable Development

New York & Tri-State + Apartment Buildings

New York City Mayor Eric Adams said Monday that his administration will invest an additional $1.8 billion this fiscal year to accelerate the development of thousands of affordable homes. The new funding will be moved from the out years of the capital plan into Fiscal Year 2026. By increasing the Department of Housing Preservation and...

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Hines Global Income Trust Pays $566M for LA, Houston Mixed-Use Assets

Apartment Buildings

Hines Global Income Trust, Inc. (HGIT) has acquired two mixed-use assets for more than $565 million. They include Runway, a 94% leased, 630,000-square-foot, 420-unit residential and retail asset in Los Angeles’ Playa Vista neighborhood for $428.1 million; and Montrose Collective, a 100% leased, 189,000-square-foot retail asset and workspace in Houston’s Montrose submarket for $137.5 million. “These...

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