Greystar has finalized a public-private partnership with The University of Texas at Austin to develop, design, build, and operate the Law School Village, a new apartment community that is the university’s first dedicated housing for law students. The Law School Village is fully financed by the University, with Greystar as the third-party developer, general contractor, and facility manager.

Located directly across the street from the UT Austin School of Law, Law School Village will offer 340 apartment beds in 280 studio, 1-bedroom, and 2-bedroom units. The project is expected to be completed in time for the 2028-29 academic year.

The 14-story community will feature amenities including a large library-style sky lounge, a cafe, a fitness and yoga area, an expansive courtyard, future coffee shop retail, and two roof decks. It is designed by Lemmo Architecture and Design, with Meeks + Partners serving as the architect of record. 

Law School Village is the eighth on-campus partnership closed by Greystar in the last 12 months. 

L3 Campus and Aureon Partners have obtained a $53.7 million refinancing for the OnShore apartments, a 210-unit/636-bed student housing project near the campus of Embry-Riddle Aeronautical University in Daytona Beach.

A Walker & Dunlop Capital Markets Real Estate Finance led by Will Baker, Mike Shropshire, William Shell, and Doug McDaniel coordinated the 7-year, floating-rate loan with a four-year interest-only period provided by Freddie Mac. Austin Kinn at TSB Capital Advisors consulted on the transaction on behalf of the borrower.

OnShore is a Class A student housing community featuring two-and four-bedroom layouts. Amenities include an infinity pool, fitness center, study areas, a flight simulator, and an on-site shuttle to the nearby Embry-Riddle campus.

The property at 1100 Halifax Medical Center Dr. has maintained 98%+ occupancy since delivery in 2020.

Empire Group of Companies has replaced Diversified Partners with SimonCRE to complete the buildout of a proposed 120,000-square-foot retail center in Carefree. The Phoenix Business Journal reports the move was made due to an issue with delivering tenants. The Carefree Quarter project is expected to cost $60 million to build. The development will break ground in early 2027. Empire Group acquired the land in 2017 for $6.5 million.

The plan is for a 30,000-square-foot grocery store with a 16,000-square-foot building attached. There will also be three shops and eight pad buildings ranging in size from 1,700 square feet to 4,700 square feet,

Empire is working on a project in downtown Phoenix that will become Arizona’s tallest tower. Arro is a 1.8 million-square-foot development that includes two towers, each home to a hotel, residential units, a restaurant and office space. Anticipated groundbreaking is early next year.

Knighthead Funding in partnership with Speedwagon Capital Partners arranged a $27 million refinancing for Signature Music Row – a newly constructed 105-unit Class A multifamily property located at 1005 16th Avenue South in Nashville, Tennessee.

Preiss utilized the loan to refinance its construction loan. Preiss is a privately held student housing owner, developer, and operator. Located in Nashville’s Music Row neighborhood, the apartment complex is near Vanderbilt University, which is within walking distance.

Situated on a 0.64-acre site, the six-story midrise property features a mix of studio, one-, two- and three-bedroom apartment homes, as well as townhomes. Residences have private patios or balconies.

Amenities include an elevated outdoor pool, an outdoor grilling area, a resident clubroom, a sixth-floor sky lounge, and a fitness center. The property also includes a ground-level retail space occupied by Silver Fox Coffee Lounge.

OTO Development paid $31.5 for a St. Petersburg resort that was recently renovated due to hurricane damage. The 102-key Beachcomber Beach Resort reopened Oct. 30 after a year’s worth of repairs. The Tampa Bay Business Journal reports Gencom, the seller, bought the hotel in 2018 for $24 million.

Hodges Ward Elliott brokered the sale of the resort. Preston Reid, Rudy Reudelhuber and Celina Nowicki represented the seller.

The resort sits on more than 6 acres and includes 2,100 square feet of meeting space. Amenities include two outdoor pools, direct beach access and the iconic Jimmy B’s Beach Bar.

OTO Development owns and operates four hotels in the Tampa Bay region, totaling 579 keys: AC Hotel St. Petersburg, Hampton Inn & Suites Ybor City, DoubleTree North Redington Beach and Hilton Garden Inn St. Pete Beach, which is adjacent to The Beachcomber.

The Beachcomber, at 6200 Gulf Blvd., was built in 1956 and was renovated after its 2018 purchase and then again after the 2024 hurricane.

Ambrose announced the signing of three separate leases with occupiers at modern industrial facilities in Cincinnati, Denver and Orlando, totaling over 190,000 square feet of space.

Sky Café, a subsidiary of PrimeFlight Aviation Services that provides catering logistics for commercial airlines, has leased 16,640 square feet at Building III of Ascent Commerce Center, a multi-tenant industrial park comprised of three industrial buildings in the Denver Airport submarket. The leasing agent for the park is the locally-based Cushman & Wakefield team.

OSH Cut, a manufacturing firm, leased 69,659 square feet in Building II of Cincinnati Logistics Park – Airport West, a modern, four-building, 84.77-acre industrial development in the Cincinnati and Northern Kentucky market. The leasing agent for the park is a local Colliers International team.

A confidential technology subsidiary of a Fortune 500 company has signed a 103,878-square-foot, full-building lease at Ambrose’s Orlando Logistics Park at LeeVista in Orlando, Florida. The leasing agent for the park is a JLL team.

Sterling Realty Organization (SRO), a fifth-generation real estate corporation with commercial assets in the Puget Sound and Salt Lake City markets, has announced a major leadership team transition.

President Tom Gilchrist will now become executive chairman of the board, and Matthew Skager will take over as SRO president, as longtime chairman David Schooler retires. A well-known leader in downtown Bellevue, Schooler had a long career at SRO. Before being named executive chairman in 2015, he served as the company president for 21 years.

Gilchrist has served in numerous positions at SRO, including controller, treasurer, vice president and other positions throughout his 40-year career at the company. As a key contributor at SRO during his 12-year tenure at the organization, Skager has worked closely with Gilchrist, progressing from roles including chief financial officer, chief operating officer and vice president.

BGO and its parent, Sun Life, made commercial real estate headlines last month with the announcement that multifamily owner/operator Bell Partners and BGO would combine businesses. Sizable as that transaction is, it’s far from the whole story BGO has to tell. In advance of his participation in Connect Los Angeles 2026 on May 28, for which he will be a member of the Industry Leaders panel, BGO managing partner, head of U.S. Jonathan Epstein discussed the investment thesis the firm is pursuing both domestically and globally.

Q: Has BGO’s investment outlook changed since the beginning of 2026, whether internationally or domestically? 

A: Our core thesis has not changed, but the path has been bumpier than we expected. Coming into the year, we held the view – against consensus – that a U.S. recession was not inevitable, that inflation was largely under control, and that capital markets were thawing. We still believe all of that. What’s shifted is the timeline. Mercurial trade policy, followed by geopolitical volatility, has delayed the recovery we were expecting rather than derailed it. 

Domestically, we remain constructive. We think the Fed has more room to cut, the 10-year is mostly anchored around 4% plus or minus 25 basis points, and U.S. growth is better than the headlines suggest—supported by outsized manufacturing capex, AI investment, productivity gains, and a policy backdrop that continues to incentivize onshoring. The numbers on that last point are striking: over a trillion dollars in announced U.S. manufacturing capital spending – roughly $270 billion in pharmaceuticals over the next 5-10 years, $200-300 billion in semiconductors, and $20-30 billion annually in defense and industrial. That’s a structural reindustrialization of the U.S. economy, and it creates durable real estate demand—for power, logistics, industrial, and the housing that supports those workforces. 

Internationally, the picture has actually improved. Europe is set up for what may be its strongest decade in two generations, with defense and capex spending, easing rates, and selective dislocation across the GP universe creating attractive entry points—particularly in Spain, Italy, the Nordics, Germany, and a re-priced UK. Asia Pacific is steadier, with Japan remaining a standout for office. 

At the firm level, we’ve also been building the platform with intention. In March, Sun Life—BGO’s parent — entered into an agreement to acquire Bell Partners, a leading U.S. multifamily investment and operating platform with approximately $10 billion of assets under management. Once closed, the transaction will bring BGO’s AUM above $100 billion and, combined with our existing exposure, take the platform to more than 40,000 owned units and over 70,000 total units under management. It reflects our strong conviction in U.S. multifamily – a sector where demand fundamentals remain durable, the country is structurally under-housed, and many global investors remain under-allocated. 

Q: How has BGO’s global cold-chain involvement evolved, and where are the regional supply dislocations? 

A: Cold storage has moved through distinct phases — from an overlooked niche a decade ago, to an institutional boom during COVID, to the recalibration we’ve been in since 2023. We think the next chapter is stabilization, and the setup is probably the most attractive it’s been since we entered the space. Supply has reset dramatically — deliveries are down roughly 65% from the 2023 peak — and permanent debt markets for stabilized core are back, which tells us institutional capital is committing again. In that environment, scale and discipline matter a lot more than they did during the boom. 

Our own footprint in the sector has deepened materially over the past five years. We started with a single real estate transaction in 2018, then participated in Lineage Logistics’ pre-IPO growth round—Lineage is now publicly traded. We’ve since launched a dedicated development vehicle for modern Class A facilities across the U.S., added smaller infill acquisitions, and engaged our lending and credit team in financing opportunities. That breadth — equity development, infill acquisitions, and credit — gives us multiple ways to deploy capital across the cycle. 

What stands out today is how uneven the supply picture looks across markets. Markets like Texas, parts of Florida, and Chicagoland have absorbed meaningful new supply above the long-term average, creating near-term disruption but eventual opportunity. In contrast, high-barrier markets like the Northeast and West Coast have seen limited new supply and remain more stable. We’re focused on markets where demand drivers — port volumes, food distribution networks, demographic growth — are strong but recent deliveries have been limited, and on tenant-driven development where underwriting is anchored to actual demand rather than speculation. Our pipeline today is weighted toward the Central and Western U.S., with meaningful allocations to the Southeast and Canada, and demand is almost entirely coming from food distribution, grocery, and pharma. 

On the demand side, we continue to see food manufacturers and pharmaceutical companies seeking supply chain control and bespoke facilities through new development. At the same time, we’re identifying value-add acquisition opportunities — potentially with tenants already in place —in markets experiencing near-term disruption, which we think could serve as attractive entry points. 

Q: Within the core plus universe, what sectors look especially attractive as we go through 2026? 

We organize our core plus strategy around three themes: Power & Logistics, Healthcare, and Housing. All three are being driven by durable demographic demand on one side and capital-markets dislocation on the other—which is what creates mid-risk, mid-return entry points. 

Power & Logistics is one of our largest allocations today and continues to deliver meaningful rent growth. The through-line is access to power—whether that’s modern logistics, advanced manufacturing, or industrial adjacent uses like cold storage and IOS. The constraint on new supply is real and getting tighter. 

Healthcare is where we have strong conviction on a forward basis. High-acuity medical office and pharma related cGMP have very durable demographic tailwinds, and portfolio aggregation dynamics in the sector are creating attractive entry points. Expect that allocation to grow meaningfully over the course of 2026. 

Housing rounds out the themes, and it may be where we have the deepest structural conviction of all. Delayed first-time homebuyer formation, a housing shortage of more than 4-5 million units, and a rent-versus-own affordability gap near a 25-year high are all durable demand drivers for institutional-quality multifamily – and values have yet to reconnect with prior cyclical highs, giving us the opportunity to acquire well-located assets at meaningful discounts to replacement cost. 

Across all three themes, we’re consistently underwriting to pricing below replacement cost and below intrinsic value, which we think is the most important discipline in this environment. 

Q: Where do you see the opportunities for BGO’s new U.S. value-add industrial strategy? 

A: We are one of the largest logistics investor/owners (Top 5) and a longstanding investor in the space in the US. We have been consistent investors in the space, up and down the risk spectrum and both equity and credit and currently we think this is one of the more favorable entry points for industrial we’ve seen in roughly two decades, and our various investment vehicle strategies are built to capture three distinct but reinforcing opportunities. 

The first is strategic acquisitions of high-quality logistics assets where temporary oversupply has pushed vacancy higher and created what we’d call “high-quality vacancy on sale.” We’re investing in top-quartile markets, at meaningful discounts to replacement cost, and creating value through mark-to-market leasing and lease-up. 

The second is selective development. New supply is down more than 50% from peak, and the development pipeline is approaching decade lows. That sets up a compelling window to build best-in-class product in markets we’ve identified through our data-science research models – but only where we have sufficient power. Grid bottlenecks have become the real gating factor for new development across most of the country, and that’s created a scarcity premium for sites that can actually be built. 

The third bucket is industrial-adjacent: powered land that can serve data center demand, infill IOS sites in constrained submarkets, and advanced-manufacturing assets benefiting from onshoring. These are adjacencies where our industrial platform gives us an edge on sourcing and underwriting, and they add diversification without diluting our core logistics thesis. 

Put simply, the macro tailwinds for industrial—above-trend growth, easing rates, automation, supply chain resilience, policy-driven reinvestment in U.S. manufacturing—are converging with a supply/demand imbalance squarely in our favor and normalizing capital markets. That combination doesn’t come along often.

Hear from LA Leadership on May 28.
Gain direct insight from Los Angeles leadership, including Mayor Karen Bass and former Mayor Antonio Villaraigosa, as they discuss policy, growth, affordable housing and the city’s future. Don’t miss this high-level conversation—secure your spot today: www.connectLA26.com 

Stos Partners acquired 640 Massman Drive, a 169,855-square-foot Class B industrial warehouse in Nashville’s Airport industrial submarket, for $26 million. The seller, Sagard Real Estate, paid $12 million for the 8.45-acre property in 2020. JLL arranged $15 million in acquisition financing. The infill property is currently 100% leased to a single tenant.

Stos Partners plans to hold the property long term and implement moderate capital improvements designed to enhance functionality and maintain competitiveness in the market.

The building was constructed in two phases and offers optionality for future multi-tenant occupancy. The original structure, completed in 1970. An expansion completed in 2000 includes 30-foot clear heights, one additional grade-level door and five dock-high doors.

Situated on 8.45 acres at the southwest corner of Massman Drive and Acorn Drive, the property offers immediate access to Interstate 40 and Interstate 24, along with close proximity to downtown Nashville and Nashville International Airport.

Just in time for the FIFA World Cup, US Soccer unveiled its impressive new headquarters just outside Trilith.

Situated on a 200-acre site, the $250 million National Training Center occupies 123 developed acres, designed to accommodate future expansion as the game continues to grow and evolve. Today, the facility features:

• 17 outdoor playing surfaces including 13 regulation size natural grass fields, two artificial turf fields and two sand pitches for beach soccer
• More than 400,000 square feet of total facilities, including two indoor playing surfaces featuring an indoor artificial turf training facility and a full-size futsal/power court
• Indoor space that boasts a 10,000 square foot high-performance gym, 20 locker rooms, 19 meeting rooms for members, coaches and community, and dedicated headquarters space for all U.S. Soccer staff

Atlanta Falcons and PGA Superstore owner Arthur Blank donated $50 million to the effort. The Fayette County Development Authority issued a $200 million tax-exempt bond. AT&T, Bank of America, Chobani, Coca-Cola, Emory Healthcare, Nike, and ŌURA also contributed to the effort.