Lincoln Property Co. has purchased Charlotte-based developer The Spectrum Cos. in a deal that Lincoln says will help it grow its footprint across the Carolinas.

Dallas-based Lincoln will combine its Carolinas platform with Spectrum and will also include Spectrum’s northern and central Florida multifamily business, Lincoln said in a Tuesday press release. The companies say the move will help boost the combined firm’s development and acquisition pipeline.

The companies’ portfolios will merge well because of Spectrum’s strong focus on multifamily development, executives from both firms told the Charlotte Business Journal, which first reported the news. Spectrum has developed almost 7,000 multifamily units since its founding, according to the release.

The sum of the sale was not disclosed.

“Lincoln has been focused on growing and investing in the Carolinas for many years, and Spectrum presented a unique opportunity to accelerate that strategy,” Johno Harris, senior executive vice president at Lincoln, told Bisnow.

He added that Spectrum’s “exceptional team” complements Lincoln’s existing platform well.

“As we looked at the next phase of growth in the region, it became clear that bringing our organizations together would create a stronger business, expand our capabilities and position us to better serve clients and pursue new opportunities across the Carolinas,” he said.

A spokesperson for Spectrum didn’t comment in time for publication.

Spectrum’s 43 employees will move from a 5K SF office into Lincoln’s two-floor, 200K SF headquarters at Piedmont Town Center in SouthPark, which already employs 260 people, CBJ reported. No job cuts are expected.

Executives told CBJ that Spectrum’s name will soon change to Lincoln.

Lincoln’s global portfolio spans 720M SF, according to the company’s website. It manages 27M SF in the Carolinas. The developer’s Charlotte-based work includes the 3M SF Legacy Union office tower complex.

Spectrum’s 4.4M SF portfolio will now become “a significant expansion of Lincoln’s regional footprint,” according to the press release. The company’s local assets previously included Vantage South End, a 635K SF mixed-use development that it sold to Cousins Properties in 2024.

Charlotte ranks among “the most attractive markets for investors” in the country, according to CBRE’s 2026 North America Investor Intentions Survey. Charlotte’s multifamily market is “maintaining stronger demand fundamentals than most peer markets,” a first-quarter Matthews report said, with a 6.2 percent vacancy rate a signal that demand has absorbed new supply.

A Virginia-based developer is aiming to bring a new 400-acre data center to North Carolina in a county southwest of downtown Raleigh.

PointOne Data Centers submitted an application to the Sanford/Lee County/Broadway Technical Review Committee to build a 90-megawatt center at 4079 Lower Moncure Road in Lee County, the Triangle Business Journal reported.

The first phase of the project would entail the build-out of the 300K SF facility. Construction would begin this fall, with completion in 2028, TBJ reported.

The proposed project would be a $900M investment, according to TBJ. Texas-based CyrusOne, a global data center developer, would own and operate the site. CyrusOne has built more than 60 data centers globally, including one near Research Triangle Park in Durham that it acquired in 2017. Since then, the company has sought to expand its presence in North Carolina. The state currently houses at least 93 data centers, according to Data Center Map.

Data centers have been a controversial issue in the Carolinas over the past year, with several counties and cities imposing moratoriums on new development. Earlier this week, the city of Charlotte approved a 150-day pause on new projects following public outcry. Lee County does not have a moratorium, but in April, it amended its Unified Development Ordinance to clarify where data centers can be located and what standards they must adhere to.

Data center opponents argue that data center development requires intensive water and power usage and can cause noise pollution and neighborhood displacement. In Raleigh, many residents say water usage is critical as the area faces extreme drought conditions.

But a PointeOne executive told TBJ its data center would use very little water due to its closed-loop cooling system. The executive said it would need an initial fill of 200K gallons and that other water usage for things like restrooms would utilize 1,100 gallons per day. 

If the review committee approves the plan, the next step would be applying for a building permit.

GM Development secured $130 million in project financing, enabling the company to begin redevelopment of a historic former Veterans Affairs (VA) hospital campus into a 493-unit Class A mixed-use community in Denver, Colorado.

The financing was arranged by Walker & Dunlop. Chris Rumul, Jason Silva, Cole Parker and Mike Valucci of Walker & Dunlop FHA Finance on behalf of GM Development. The project incorporates historic tax credits as a key component of the capital stack, enabling the adaptive reuse of the long-vacant property.

Located at the northwest corner of East 9th Avenue and Clermont Street, the 8.22-acre former VA hospital campus will be redeveloped into a Class A mixed-use community at 1055 North Clermont Street. The project will deliver 493 rental units. It will also include more than 50,000 square feet of retail and medical office space.

GM paid $41 million for the property in 2022.

Coterie Properties is leading a team aiming to transform The Station and Jefferson Plaza office properties along Holcomb Bridge Road in Norcross into a mixed-use development.

The Atlanta Business Chronicle reports plans include 320 wrap-style apartments, 30 townhomes and 16,100 square feet of restaurant and retail space.

The first phase of the redevelopment would focus on a pair of restaurant and retail buildings that would rise on the footprints of two existing buildings.

The rest of the buildings to the south of the creek would be torn down to make room for the apartments and townhomes.

A second phase of the project would likely include a new parking deck and approximately 150 age-restricted apartments for people ages 55 and older, replacing surface parking behind Jefferson Plaza.

With an estimated price tag exceeding $100 million, the first phase would be built concurrently and take about two years to complete.

Norcross City Council would have to rezone the properties in order for the project to move forward.

TMGOC Ventures inked a $104.5 million loan to facilitate the construction financing for the Ritz-Carlton Savannah, a 15-story luxury hotel located in the heart of Savannah’s Historic District.

Walker & Dunlop Capital Markets Institutional Advisory and Walker & Dunlop Hospitality Advisory partnered to arrange the transaction for TMGOC Ventures. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Ari Hirt, Sean Reimer, and Jason Schwartzberg of the Advisory team arranged the capital provided by The LCP Group.

TMGOC will also utilize federal and state historic rehabilitation tax credit programs, allowing for tax credits for qualified expenditures and local property tax abatement programs.

Upon completion, the hotel will comprise the historic redevelopment of the two existing office buildings into a 168-key Ritz-Carlton hotel. Originally constructed in 1911, the property holds the distinction of being downtown Savannah’s first skyscraper, its tallest building, and a designated historic structure.

The property is situated in Savannah’s Historic District.

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A joint venture of the Massachusetts Port Authority, the Massachusetts Department of Transportation and the Massachusetts Bay Transportation Authority is seeking expressions of interest in potential development at the Anderson Regional Transportation Center, located at 100 Atlantic Ave. in Woburn. The City of Woburn has advanced planning and economic development efforts in the surrounding area, setting the stage for a potential opportunity at the RTC.

“As the JV contemplates how to best accommodate the growth of transportation services at the Anderson
RTC, there may be potential for development to co-exist with, and even enhance, operations at the facility,” according to a statement from the three agencies. They’re seeking to better understand the site’s development potential, gauge market demand and evaluate the feasibility of balancing current and future transportation needs with new development.

Responses to the Request for Interest are due by April 30.

Photo credit: BMRR.

Hanley Investment Group Real Estate Advisors arranged the sale of two standalone buildings occupied by a Chipotle Mexican Grill and an adjacent Starbucks Drive-Thru in Rancho Cucamonga. The sales price was $6.22 million.

EVPs Bill Asher and Jeff Lefko of Hanley represented the seller, Chase Partners Ltd., based in Glendale. The buyer, a private investor based in Los Angeles, was represented by Shirley Kim at Epique Realty, also of Los Angeles.

The property involved a complete rehabilitation of the facility and the expansion of Starbucks by the developer, Chase Partners Ltd., a leading retail and industrial developer in Southern California since 1993. Michael Carter served as the project manager for Chase.

“We generated multiple qualified offers primarily from Southern California-based buyers and leveraged our extensive broker relationships to procure a repeat all-cash buyer, ensuring a smooth and timely closing by year-end,” said Asher.

A high-profile trio of developers is trying to convince a Charlotte-area local governing board to okay a significant zoning request. The team of Jamestown, North American Properties and Nuveen Properties is hoping to change the current Huntersville zoning for a property at Birkdale Village to allow for a $180 million project that would include a 125-room hotel, 150 apartment units, 122,000 square feet of office space and 26,000 square feet of retail.

The new office building, which includes ground-floor retail space, would be developed at the site of Birkdale’s existing Barnes & Noble store.

The 150-unit multifamily project would be developed at the current site of Dick’s Sporting Goods. That building would also include ground-floor retail space. Plans available in town records show that a new parking deck would be developed behind the office building. The hotel would be built across from it.

Nashville residents have known about the transformative downtown Nashville tower for some time, and now new details have surfaced regarding Hensler Development’s Olive at Peabody Union project.

The 27-story residential tower is set to open in April. Hensler Development Group, Stiles Corp., and PGIM Real Estate are leading the project.

The 4.6-acre mixed-use development, located on downtown’s riverfront, includes a six-story office building and the apartment tower. Olive at Peabody Union will offer 354 residential units. The units will range from 1,179 square feet to 2,585 square feet. Located on the Cumberland River, the tower will also offer a speakeasy sky lounge, a pool and hot tub and a fitness center.

In addition to the apartment tower, Peabody Union will offer 250,000 square feet of office space, as well as 50,000 square feet of retail and restaurant space.

Nashville-based Hastings Architecture and Turner Construction are leading design and construction of the project, which broke ground in 2022.

Childress Klein has been greenlighted to convert a Charlotte office complex into a mixed-use project. The company was granted a rezoning by the towns City Council on the Esplanade at SouthPark from office to a zoning classification that will allow up to 675 multifamily units and 277,000 square feet of office space. 

That number includes 77,000 square feet of existing office space, according to the site plan.

The Charlotte Business Journal reports Childress Klein acquired the 213,000-square-foot office property at 2101 Rexford Road, in June 2023 for $31 million. The development was built in 1982 and renovated in 2015. 

The development site includes Rexford Park II, a 77,000-square-foot office building at 2115 Rexford Road. That building will remain.

The new project is expected to include four total buildings, as well as outdoor amenity areas and green space.