Construction & Property News

MALVERN, Pa.--(BUSINESS WIRE)--Balfour Beatty Communities, a national residential real estate investment and management company, today announced the acquisition of Avanti Cityside, a 378-unit multifamily community located in Houston's highly sought-after Texas Medical Center submarket. The transaction is Balfour Beatty’s third investment in Texas over the last 18 months, following the acquisitions of River Pointe in Conroe, and The Leonard in Denton. Avanti Cityside sits at the center of one of...

ATLANTA--(BUSINESS WIRE)--Centurion Foundation today announced the completion of its purchase of Northlake Mall in suburban Atlanta, including an adjacent building formerly occupied by Macy’s. The adjacent J.C. Penney site was not part of this transaction. The $95 million acquisition will transform the mall into a new Northlake Campus for Emory Healthcare, as the Atlanta-based healthcare system becomes its primary tenant through a long-term agreement with Centurion.Emory Healthcare has had a pre...

ALEXANDRIA, Va.--(BUSINESS WIRE)--The U-Haul® center at 6295 Edsall Road, Plaza 500, Suite 200, has closed its doors. June 28 marked the last day services were provided at this Alexandria location. U-Haul had been leasing the space which the property owner intends to redevelop. U-Haul had been leasing the property since September 2023. Eight Team Members were let go due to the closing. Customers who did business at the Edsall Road location can find self-storage, truck and trailer rentals, and a...

NEW YORK--(BUSINESS WIRE)--Mack Real Estate Group (MREG) today announced a series of leadership transitions designed to position the firm for its next chapter of growth. Priyanka Garg, who most recently served as Managing Director and Head of Credit Strategies, has been named President of MREG. Michael McGillis, who previously served as MREG’s President, has been appointed Vice Chairman of the firm. He will continue to serve as President and Chief Financial Officer of Claros Mortgage Trust, Inc...

AUSTIN, Texas--(BUSINESS WIRE)--The NRP Group, a vertically integrated, best-in-class developer, builder and manager of multifamily housing, today announced the financial closing and groundbreaking of Catalina, a 336-unit affordable housing community in Travis County near Austin, Texas. Developed in partnership with the Housing Authority of Travis County (HATC), the community will provide deeply affordable housing for families and working professionals earning between 30% and 70% of the Area Me...

ALEXANDRIA, Va.--(BUSINESS WIRE)--MPR Associates announces Suzanne P. McKillop, PE, Senior Technical Advisor, begins term as SVP of Standards and Certification for ASME....

NEW YORK--(BUSINESS WIRE)--KBRA releases research examining loan modifications in the single-asset single borrower (SASB) commercial mortgage-backed securities (CMBS) sector. SASB activity is expected to remain an important part of the market, while upcoming loan maturities will continue to test refinancing availability and lender selectivity. Following KBRA’s prior SASB default and loss research, this report reviews 54 SASB CMBS 2.0 loans that were modified. The analysis focuses on what borrow...

PASADENA, Calif.--(BUSINESS WIRE)--ExchangeRight has fully subscribed Net-Leased Portfolio 73 DST, a $90.67 million portfolio backed by primarily investment-grade tenants....

HOUSTON--(BUSINESS WIRE)--Race Rock, a privately owned manufacturer and distributor of steel infrastructure products serving the utility, highway, and energy markets, announced plans to expand its Brookshire, Texas campus with a new state-of-the-art manufacturing facility. The expansion will help meet growing demand for modernized and expanded electrical transmission and substation structures that are critical to North America’s infrastructure needs. Construction on the expansion is expected to...

SEATTLE--(BUSINESS WIRE)--Home prices are rising by double digits in a handful of affordable, inland cities anchored by universities, according to a new report from Redfin, the real estate brokerage powered by Rocket. Led by Morgantown, WV, Syracuse, NY and Tuscaloosa, AL, home prices in these college towns are rising more than five times faster than the 2% growth home prices saw nationwide in May. This is from a Redfin analysis of MLS data from the three months ending in May 2026 for college t...