BLDG Real Estate and The Fellowship Family closed on $100 million in financing for the 205-unit Fellowship Wildlight in Nassau County.

The Jacksonville Business Journal reports the financing team for the venture includes Peachtree Group, Florida Development Finance Corporation, Farmers & Merchants Bank, a Greystone fund and Promus Realty.  

Fellowship Wildlight will be located within Rayonier’s 24,000-acre Wildlight community and will have eight cottages, 24 memory care units, 48 assisted living units and 125 independent living units.

The project team for Fellowship Wildlight includes Elkins Construction as general contractor, Stewart & Conners as the architect.

This marks the third Fellowship senior living community in Northeast Florida. BLDG Real Estate and The Fellowship Family acquired and repositioned a 43-unit senior community, Fellowship Amelia Island, in April 2025. In August 2025, The Fellowship Family and BDG Real Estate acquired Fellowship Cove at Marsh Landing, a 101-unit community in Ponte Vedra Beach.

Site work is wrapping up and construction workers are ready to start building on what will be a $3 billion development in Apex. The Triangle Business Journal reports RXR is developing the 1,200-acre Veridea site, which will start with two industrial buildings totaling 213,000 square feet. 1.3 million square feet of warehouse space is planned.

Summit House, the first apartment building, will go vertical in a few weeks with first delivery of units by the end of 2027 and completion in early 2028. Summit House will have 291 studio, one- and two-bedroom apartments in a four-story complex.

Other components of the venture include Veridea Crossing, the 220,000 square foot retail and office space within East Village. It will start opening in early 2028. That includes an anchor grocer opening in 2029. Construction on the Wake Tech’s new campus will start by the end of this year with a targeted opening in fall 2029 with 3,000 students.

Construction on the NC Children’s Hospital is expected to start in summer 2027, with the first phases delivering in 2031. 

A North Carolina developer has acquired a large parcel of land in Durham, five months after receiving rezoning approval from the city for a 300-acre mixed-use development. 

Charlotte-based Beacon Partners bought 119 acres in southeast Durham in a $20M deal with longtime partner Stephens Enterprises, the Triangle Business Journal reported.

The land will be used for mixed-use industrial buildings that will be part of a development called Durham Gateway. 

The 119 acres are along Highway 70 and Leesville Road on the edge of Brier Creek. Stephens put the land up for sale in January 2023. 

Durham Gateway is a joint venture with HM Partners and SFRE Holdings. It comprises 1,750 residential units and 1.3M SF of industrial and commercial space that will be built out in two phases. Beacon received rezoning approval for the 300-acre development from the Durham City Council five months ago.

CBRE’s Ann-Stewart Patterson, Austin Nagy and John Hogan handled the leasing and marketing for the project.

While there was some backlash to Durham Gateway when the project was approved in September 2025, Mayor Leo Williams said it would bring substantial benefits to the community.

Beacon has agreed to donate $1M to the Durham Dedicated Housing Fund, $50K to Durham Public Schools’ capital needs, and $350K to a fire and emergency services grant project. Williams also said the project would feature affordable housing options.

Courtesy of Merriman Schmitt Architects

Construction is well underway on the final undeveloped site in the Pineville industrial corridor in the Charlotte metro area.

The last large-scale development there, the Pineville Distribution Center, will be a 194K SF Class-A industrial facility some 15 miles south of Charlotte, according to a Jan. 26 press release from Iconic Equities.

Iconic Equities, a Miami-based industrial real estate investment firm, led rezoning efforts for the center last year along with Shoreline Capital. Along with Iconic Overlook Ventures and LaSalle Investment Management, Iconic Equities is developing the project. 

Iconic Equities CEO Tim Bishop declined to provide details on the price tag for the development.

The 15-acre site is at 10203 Pineville Distribution St. on 15 acres in Mecklenburg County, with good access to I-485 and I-77.

The new facility will reportedly be used as a build-to-suit warehouse for distribution. Construction began in November and is expected to be completed later this year.

“Being the last available site adds scarcity value,” Bishop said in an email. “And the location is already proven, with major tenants in the nearby Carolina Logistics Park.”

The 288-acre Carolina Logistics Park features a 525K SF distribution center for Campbell Snacks and a 526K SF Amazon facility.

Beacon Properties developed the nearby logistics park, which has more than 3M SF of industrial space, and last year sold much of it amid deals totaling some $500M. 

“The Charlotte market is experiencing exceptional demand for high-quality industrial properties, fueled by population growth, e-commerce expansion, and regional manufacturing strength,” Bishop said. 

Industrial vacancy in the Charlotte metro area dropped at the end of last year to 7.5%, according to CBRE, backed by 2.3M SF of net absorption. For the year, tenants took 9.5M SF more than they vacated in the metro area.  

CBRE’s outlook for 2026 predicts a 5% year-over-year increase in national industrial leasing activity to nearly 1B SF. 

While the construction pipeline in Charlotte has encountered some hurdles, with vacancy remaining high and deals slowing, there’s still a positive outlook for the multifamily and build-to-rent markets. 

A growing population, a robust job market and increased demand for rentals have investors gaining more confidence in Charlotte’s strong fundamentals.

NFP, an insurance and advisory brokerage that provides specialized risk management to construction companies in Charlotte, is also noticing this shift.

“New construction starts have dropped significantly as developers are cautious amid high interest rates and inflationary pressures,” NFP Senior Adviser Peet Poillon said. “Despite this, Charlotte’s construction pipeline remains one of the largest nationally, particularly in multifamily and build-to-rent sectors.”

Poillon moderated a panel discussing how to make projects happen in today’s construction market at Bisnow’s Charlotte Construction and Development Conference on Nov. 4. 

Bisnow spoke with Poillon about the state of construction in Charlotte, his role at NFP and how the firm is helping advise construction clients.  

Bisnow: How would you describe the current state of the construction market in Charlotte?

Poillon: The current state of the construction market in Charlotte is characterized by a slowdown from the historic expansion highs of 2023 and 2024. Apartment completions peaked in 2024 with more than 16,700 units delivered, but 2025 is expected to see about a 30% decline in completions with approximately 12,000 units delivered.

While the market is currently in a “breather” phase after rapid growth, it’s expected to pick up as interest rates stabilize. The market is also absorbing these new units strongly, with absorption reaching record highs in 2024.

However, office vacancy rates are still elevated compared to national averages, and operating costs like taxes, insurance and maintenance continue to rise, squeezing operating income for property owners. The industrial and commercial construction sectors are experiencing a similar cautious slowdown, with developers focusing on completing ongoing projects and postponing new starts until demand rebalances. Labor shortages and material cost inflation remain key challenges.

Bisnow: Can you tell us about your role at NFP?

Poillon: My role involves advising construction companies on managing their insurance portfolios, mitigating risks related to labor, materials and project delays, and designing comprehensive coverage programs that fit the unique needs of builders and developers. NFP leverages its market expertise and broad carrier relationships to help firms maintain financial stability and protect against unforeseen claims.

Bisnow: What’s NFP’s place in the market, and how are you advising construction companies in the Charlotte area? 

Poillon: NFP has established itself as a trusted adviser and risk management partner for local reconstruction and development firms. We support clients by offering innovative insurance solutions, safety consulting and strategic advice on navigating the evolving construction marketplace, including adapting to regulatory changes, labor shortages and cost fluctuations. 

For construction clients, NFP provides tailored approaches to manage exposures related to workforce challenges, supply chain disruptions and project financing risks.

Bisnow: What were some of the hottest topics of conversation at Bisnow’s Charlotte event? 

Poillon: The current cautious but optimistic outlook for construction in Charlotte, impacts of rising interest rates on project financing, workforce challenges, sustainability and green building trends, and the future of urban development, including residential and commercial shifts postpandemic. 

We also discussed how developers are being strategic in timing groundbreaking and focusing on projects with strong preleasing or tenant commitments.

Bisnow: What were some of the key takeaways from the event? 

Poillon: Labor shortages remain a critical concern impacting construction schedules and costs, and developers and contractors must be agile in managing the supply chain and inflationary pressures. There’s a strategic focus on build-to-rent and multifamily housing due to strong local demand driven by population growth. Also, risk management and insurance advisory services are becoming more pivotal in navigating uncertainties.

While Charlotte’s construction market is moderating from recent highs, it remains active with strong underlying demand. NFP plays a crucial role in advising construction companies to effectively manage risk and adapt to market complexities, and Bisnow events provide valuable insights and networking to navigate these dynamics.

This article was produced in collaboration between Studio B and NFP. Bisnow news staff was not involved in the production of this content.

Studio B is Bisnow’s in-house content and design studio. To learn more about how Studio B can help your team, reach out to studio@bisnow.com.

Greysteel has announced the listing of a mixed-use opportunity zone development site at 45 Q Street SW, located in the rapidly expanding Southwest Waterfront area of Washington, D.C.

This fully entitled property is situated in proximity to the Navy Yard, The Wharf, and Buzzard Point. “45 Q Street is a rare opportunity to deliver a dynamic mix-use project in an opportunity zone between Nationals Baseball Stadium and Audi Field,” said W. Kyle Tangney, Senior Managing Director at Greysteel. “I’m not aware of another shovel ready opportunity in the entire US that features all the neighborhood and site dynamics this project has going for it.”

The property is currently entitled for a 152,245-square-foot mixed-use project featuring a 78,414-square-foot Moxy Hotel with 182 rooms under the Marriott International umbrella, 64,949 square feet of residential units, 6,546 square feet of ground-floor retail space, and a 4,436-square-foot rooftop venue.

Lument announced the placement of a $14 million CMBS loan to refinance Mi-Place at Vineyards, a 41-unit, 65,000-square-foot retail mixed-use development in Lewes, Delaware.

Ben Retter, a director on Lument’s debt capital markets team, led the transaction. The CMBS loan has a fixed interest rate and five-year term. It replaces existing debt from a local bank. The developer is Fernmoor, a land development and residential and commercial property management company based in New Jersey.

“Helping this experienced developer obtain CMBS financing for this high-quality, mixed-use community was a pleasure,” said Lument’s Retter. “The property is well-positioned for success given the beneficial refinance, the appealing mix of unit types, its location near popular vacation destinations, as well as its top-notch management.”

Mi-Place at Vineyards is part of a master-planned community which includes multifamily buildings, for-sale residential condominiums, for-sale carriage homes and townhouses, retail space, and a grocery store.

Colliers arranged the 119,044-square-foot lease of Building 2 within Sanyo Logistics Center at 9350 Airway Rd. in San Diego’s Otay Mesa submarket. Reportedly it’s the largest new lease completed in size and deal value in the past 12 months in South County. The property is owned and operated by an affiliate of Badiee Development.

EVPs Mark Lewkowitz and Chris Holder and associate VP Will Holder, who have led the project’s marketing efforts since its completion in 2020, brokered the deal on behalf of Badlee. SVP Jeff Saywitz and Michael Mossmer of VOIT Real Estate Services represented the tenant, Brokerage & Logistics Solutions, Inc.

“Class A buildings such as this, within walking distance to the border and with superior dock counts, will always be highly valued to customs brokers and 3PLs,” said Lewkowitz. “We are so pleased with the successful outcome and thank the Badiee team for their continued trust and partnership.”

OC Lifetime Achievement Award: Johnson Capital Advisors’ Founder & CEO, now Principal Emeritus, Guy Johnson, will receive the Connect CRE Lifetime Achievement Award at Connect Orange County on Thursday, March 20th. Register to attend sit in on a very special Keynote Conversation between Guy and presenters from Matthews REIS, Red Oak Capital Holdings, and more, who have worked with Guy throughout his career. www.ConnectOC2025.com

Arctaris Impact Investors, LLC and Housing Diversity Corporation (HDC) announced the opening of Liv DTLA, an eight-story, 227-unit affordable housing development designed to address Los Angeles’ severe housing shortage. The project was co-sponsored and developed by HDC, while Arctaris Impact provided critical project funding. 

The privately funded, all-studio housing project, located in an Opportunity Zone at 1411 S. Flower St., is positioned near the Los Angeles Convention Center and Pico Metro Station on the A and E Lines. Through a five-year master lease with the Los Angeles Homeless Services Authority, the building will provide permanent supportive housing with wraparound services by The People Concern. Reportedly it is the county’s largest master-leased housing development.

“The innovative master lease structure with LA County allows developers to house low-income families without relying on federal subsidies, while also completing the project more efficiently than other affordable housing options,” said Nihar Sait, managing director and head of real estate at Arctaris.

March 20, 2025: Register to attend the 9^th annual Connect Orange County coming up on Thursday, March 20^th, and join the region’s most active investors, owners, developers, dealmakers, managers, brokers, lenders, and more at the Hyatt Regency Irvine. Learn more, get involved, and register at: www.ConnectOC2025.com  

Green River Builders and ARC Multifamily Group obtained a construction loan, allowing them to proceed with a 282-unit multifamily development in Monroe, Georgia. The $42.7 million loan is for The Jax, a garden-style apartment complex. Green River is based in Monroe, about 20 minutes east of Atlanta.

Blake Cohen and Charlie Clark with CBRE Capital Markets’ Debt & Structured Finance in Atlanta represented the borrowers. Peachtree Group provided the two-and-a-half-year full-term, interest-only loan at approximately 74% loan-to-cost. The loan was also structured with an earnout based on completion and leasing hurdles.

Located at 200 Aycock Avenue, the project will comprise seven three-story residential buildings with one-, two-, and three-bedroom floorplans averaging 1,117 square feet. Community amenities include a business center, clubhouse, pool, fitness center, volleyball court, picnic area, EV charging, and a breakfast/coffee concierge.

ARC Multifamily invests in multifamily properties throughout the Southeast United States.