MBK Senior Living announced that construction has officially begun on a comprehensive renovation of The Bellettini, a senior living community in the heart of downtown Bellevue, Washington. The transformation is expected to be completed in Summer 2026.

The transformation will enhance key shared spaces throughout the community, including the lobby, concierge and valet areas, and signature dining venues. “This renovation reflects a deep respect for what The Bellettini has always been, while thoughtfully enhancing how it feels to live here each day,” said Brian Prouty, Executive Director of The Bellettini.

“We’re creating an environment that feels both elevated and comfortable—where residents can continue to enjoy the connections, experiences, and sense of ease they value, now within beautifully refreshed surroundings.”

The Bellettini features 144 independent and assisted living apartments. MBK Senior Living is a provider of independent living, assisted living, and memory care communities across the Western United States.

Colliers has been awarded the exclusive leasing assignment for 601 City Center, located in Oakland’s downtown. The firm has been hired by the new owner, Kennedy Wilson, to lease the property’s 24-story, 607,000-square-foot office tower. EVPs Charlie Allen and Anthony Shell and SVP Amber Merrigan will lead the marketing efforts.

“We’re excited to reintroduce Bay Area companies to this exceptional office tower,” said Allen. “Its new construction and upgraded design features, including a double-glazed glass curtain wall and illuminated exterior, make it an outstanding option for companies seeking a distinctive new home. We can accommodate a large contiguous block of approximately 260,000 square feet or professional suites starting at 5,000 square feet.”

Built in 2019, the Class A tower is the first high-rise office building constructed in the city in roughly a decade. Kennedy Wilson acquired it in April through foreclosure, according to published reports.

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A healthcare and medical insurance provider is taking steps toward a presence in the South Downtown area. 

The Kaiser Permanente medical building at 1175 Cascade Parkway in Atlanta

Kaiser Permanente announced Tuesday it purchased 7 acres in the Summerhill neighborhood for $31.5M for a “long-term investment in one of Atlanta’s most culturally significant and rapidly evolving neighborhoods,” the company said in a press release.

Ravae Graham, a Kaiser spokeswoman, said the company purchased 550 Hank Aaron Drive and 41 Fulton St., a former Atlanta Braves parking lot across the street from Georgia State University’s new planned baseball stadium. 

Atlanta-based real estate investment firm ANiMAL was the seller of the 41 Fulton St. property, the Atlanta Business Chronicle reported.

Without going into specifics, Kaiser stated it planned to use the land “for a variety of purposes to improve access to care,” according to the release.

Graham said the firm has no definitive plans “on purpose” in order to engage with neighborhood and community stakeholders on what is most needed. The final plan will be dictated by that feedback, she said. 

“We don’t want to just come into a community and say, ‘This is what it needs.’ We want to be as collaborative as can be,” Graham said. 

Kaiser Permanente is the second major healthcare operator to take a land stake in the city of Atlanta since the closure of Wellstar Health System’s Atlanta Medical Center in 2022.

In 2024, Charlotte-based Atrium Health bought 40 acres near the West End MARTA Station. One city council member predicted the parcel would become a new hospital for the area, the Atlanta Business Chronicle previously reported. 

Atrium has not revealed its plans for the land since the purchase.

Earlier this month, Atlanta Mayor Andre Dickens called on Fulton County and the state of Georgia to address the lack of medical care facilities in Southside Atlanta during a speech at the Kiwanis Club of Atlanta.

“The city’s responsibility is not healthcare. That’s not in our charter. We can give outreach, we can give advice, but we’re not responsible for healthcare,” Dickens said.

The last quarter of 2025 came with price haircuts across much of the U.S. real estate landscape. Urban offices were hit particularly hard.

Commercial properties took price haircuts across the U.S. at the end of 2025, according to MSCI.

While MSCI’s commercial property price index last month rose 0.2% year-over-year, it fell 0.4% from November to December. And the drop from the third quarter to the fourth implies an annualized pace decrease of 3.5%. 

“Price growth has been softening in recent months,” the analysis says.

The office sector was hit the hardest, with central business district properties falling in the fourth quarter at an annualized pace of 7.9%. That metric for their suburban counterparts showed a 1.2% drop. 

Retail and industrial prices edged down slightly in December, and the only sector to see prices rise was multifamily, with a monthly increase of less than 0.1%.

Still, the value of apartment properties was down 1.3% year-over-year.

“Apartment’s softening prices mark a reversal of earlier momentum, as what had been nearly two years of moderating annual declines has given way to renewed pressure,” MSCI’s report says.  

The report also broke down geographic differences in commercial price changes. 

The markets with the largest price increases over the last year were Orlando, Florida; Houston; Baltimore; Phoenix; and Sacramento, California. 

The sharpest price drops in 2025 were found in Boston’s central business district, New York City’s outer boroughs, Seattle, San Francisco’s East Bay and Nashville. 

Boston’s CBD also had the largest price decline over the five-year period ending in 2025, the report found. The other markets with the biggest five-year slides were D.C.’s central business district, San Francisco, Los Angeles’ central business district and San Jose, California.

The markets with the most price growth over the last five years were South Florida; Orlando and Fort Myers/Sarasota/Naples, Florida; Charlotte; and LA’s Inland Empire. 

MSCI Executive Director Jim Costello said the data center boom masked distress in other parts of the market last year. 

“In the beginning of the year, there was optimism and some price growth, but it’s weakened as of late,” he told Bisnow last month.

The 36-story 101 Marietta St. tower is for sale. The Atlanta Business Journal reports that real estate observers estimate that offers for the building will come in at about $67.5 million. The 675,000-square-foot building overlooks Centennial Yards. 

101 Marietta is owned by Dilweg Cos., which paid $68.8 million for the property in 2015. It tried to sell the building in 2020. At that time, it expected offers of more than $150 million. 

Downtown’s office vacancy rate remains over 30%, according to fourth-quarter 2024 data from CBRE.

Newmark’s Jay O’Meara, Justin Parsonnet and Ryan Reethof, along with CBRE’s Will Yowell, are marketing 101 Marietta for sale. 

The building is 62% leased. Its tenants include the Atlanta Hawks and coworking company Industrious. It also includes the offices for developer Centennial Yards Co. 

Horizon Hospitality is reported to be behind the construction of two new hotels near Emory University Midtown Hospital. Two 12-story hotels are under review on a site at West Peachtree Street and Baltimore Place in Downtown. The property was purchased in 2023 for $8.4 million.

The Atlanta Business Chronicle reports that the hotels could bring almost 400 new hotel rooms to the market. 

One building would be branded as Hilton Worldwide’s micro-hotel brand Motto, and the other as Marriott International’s extended-stay brand TownePlace Suites.

The hotels are planned to include a sky lobby, or a hotel lobby that is on the top floor instead of the ground level. BCA-Studios is the architect.

The property is across the Downtown Connector from the city’s tourism and convention hub and south of Midtown’s walkable heart. Centennial Yards, the project to remake The Gulch, has three hotels either under construction or in the planning phase.

Lee & Associates has negotiated a 3,163-square-foot restaurant lease at Riverwalk Plaza, 175 W Jackson Avenue, Suite 223, Naperville, Illinois.

The landlord, Naper Limited Partnership, was represented by Michael Petrik, Associate, and Rick Scardino, Principal at Lee & Associates. The second-floor restaurant has been leased to U Sushi Club Rotary Sushi Bar. The premier downtown Naperville building offers on-site parking and is located adjacent to the Naperville Public Library and near the beautiful Naperville Riverwalk.

“We are excited to have a fun and exciting concept to breathe fresh life into a space that has provided downtown Naperville with sushi and Japanese food for decades,” said Petrik. “This concept will be new to the downtown area, and has seen great success in other markets, which we are confident will be replicated in this location.”

Vanderbilt University is buying up land in downtown Nashville to expand its footprint in the region. The university paid $66.9 million for a retail center on the town’s West End. The seller was Park Place Retail Partners. They paid $5.67 million for the four-parcel site in 2005.

The 3.23-acre property is anchored by the Park Place shopping center, which offers multiple restaurants, shops and office space in addition to Chipotle and Ted’s Montana Grill. The nearly 60,000-square-foot shopping center was constructed in 1985.

Vanderbilt will lease back the properties to the sellers.

The Nashville Business Journal reports the purchase is the latest addition to the university’s fast-growing Midtown portfolio.Vanderbilt has been buying up Midtown land for the last few years as it plans for the evolution of its campus in coming years, according to a previous statement. The latest purchase racks up the university’s land transaction volume to more than $260 million since 2019.

Georgia State University will soon begin a transformational project. Most of the $107 million needed for the project will come from an $80 million gift from the Robert W. Woodruff Foundation.

Development of the Hurt Park area includes removal of Georgia State’s Sparks Hall to integrate the existing campus Greenway into a district that crosses Gilmer Street and connects to Hurt Park. The Greenway will include an elevated plaza, enhanced walkways and a vegetated buffer along Courtland Street.

On the north end of Hurt Park, the 100 Edgewood building will get a dining area and gathering space. Renovations to the first four floors of the building will provide up-to-date classroom space and interconnecting stairways.

The Arts and Humanities Building, overlooking the newly activated outdoor hub, will get a new, more contemporary façade.

At Woodruff Park, new sidewalks, a realigned streetcar platform, façade improvements to the 25 Park Place building and plaza, and other pedestrian-oriented features will provide a connection to Broad Street and the Aderhold Learning Center.

This series goes deep with some of the most compelling figures in commercial real estate: the dealmakers, the game-changers, the city-shapers and the larger-than-life personalities who keep CRE interesting.

The Fallon Co.’s Fan Pier project in Boston’s Seaport District is near and dear to President Brian Awe’s heart. After all, he’s been working with the company for about as long as the $4B transformational project has been cooking.

Courtesy of Brian Awe

The Fallon Co. President Brian Awe enjoys climbing in his spare time.

“It’s all about being responsive to what the needs of the particular city are,” said Boston-based Awe, who is also passionate about the company’s East Bank project in Nashville, a key part of revitalizing the area around the Tennessee Titans’ new domed stadium that is slated to open in 2027.

The 40-year-old developer has overseen upward of $6B in projects aimed at remaking cities since joining the company.

Awe began his career as a lawyer at DLA Piper, a global firm with a strong real estate focus, and one of his first clients was The Fallon Co. After working closely with the company over the next 10-plus years, when the chance arose to jump aboard, Awe said it was an opportunity “that was too good to pass up.”

The Fallon Co. focuses on markets like Boston, Nashville, and Charlotte and Raleigh in North Carolina, with the idea that serving the needs of cities, residents and businesses is essential to making development projects the best they can be, he said. 

Awe spoke with Bisnow about upcoming projects, capital markets and the future of American urban cores. 

This interview has been edited for length and clarity. 

Bisnow: How did you get into commercial real estate, and what’s kept you there?

Awe: It started, really, with my interest during law school. I took a variety of property and real estate-related classes. So I really was looking to try to figure out how to fit that into my legal career [and] ended up summering at a law firm in town that had a really strong real estate program.

I ended up working with the Downtown Boston Business Improvement District and got to work with a fantastic group of local business leaders, real estate leaders, developers, owners, neighborhood folks to really put together this new thing that really served an important need to revitalize downtown Boston. That was quite real estate-focused, as you might imagine, and really reinforced that desire to work in real estate. I worked at that same law firm, DLA Piper, for my entire career up until about two-and-a-half years ago. 

Bisnow: What has the transition been like going from working with The Fallon Co. as a lawyer to now being its president?

Awe: It’s been really great, maybe in large part because of my familiarity with the team and the team’s familiarity with me. While I was the outside counsel, I really got to know everyone very well, know the business and understand the business pretty well — at least as well as you can in an outside counsel role.

So when I came in, I feel like I had a pretty good foundation in what the company had going, the projects [and] the value that we were bringing to the communities where we’re doing our work. The transition has been great. We’ve continued the strong growth trajectory that Joe Fallon, our chairman and our founder, and Mike Fallon, our CEO, established and really grown on that platform regionally as well as in Boston over those few years.

Bisnow: What’s the market been like lately? Have things been rocky or have you been faring well?

Awe: It’s been a mixed bag. Obviously, the broader economic environment has been really difficult. Covid [was] quite difficult for a variety of reasons, including on a real estate front, particularly as it affects office. [The] life science industry has been hit quite a bit. [It] won’t be a surprise to anyone, but Boston, being one of those key life science markets, has had it a little tougher. We’ve really been able to choose our spots pretty well and pursue projects that have been really productive for us.

In an environment where it’s difficult to finance, we were able to actually close a construction financing on our last building at our Fan Pier project. That’s a project The Fallon Co., along with our partner [Massachusetts Mutual Life Insurance Co.], purchased in 2005. That’s been really gratifying to see that project through most of its history.

The quality of the projects we have going really is a testament to the company, and a silver lining for us is being able to move those projects forward in an otherwise fairly difficult environment. 

Courtesy of Otillo Swimrun

Awe competes in swimruns and ultramarathons.

Bisnow: What are the latest projects you’re working on that you’re most excited about?

Awe: I’m really excited about our project in Nashville, Tennessee. It’s a market we went into back in 2018-2019, looking for the right project to implement large mixed-use development. That’s really what we specialize in, and we have a project there that’s called the East Bank of Nashville. It’s where the existing Tennessee Titans football stadium is, and they’re in the process of building a new stadium right next to where their existing stadium is, but there’s a lot of land right around the stadium that is either there currently or will be made available once the old stadium comes down.

We applied for [it] in 2023, and were awarded the master development rights to 30 acres. That’s something we’re really, really excited about. We love Nashville. We think it has great things going for it and is a place a lot of people want to be. This is a pretty unique piece of property, like Fan Pier was 20 years ago. It’s got all the amenities and other things located right nearby, but it’s an opportunity to create a new neighborhood, and that’s really what we’re focused on doing in Nashville. Now, we’re deep into design and trying to get that project started, starting with an affordable housing building as well as another commercial building.

Bisnow: Do you have a vision for where American cities are going? I know downtown office space generally isn’t doing well across the country. Can big urban projects combat that and bring it back? 

Awe: I think so. It’s all about being responsive to what the needs of the particular city are. It’s one of those where it gets a little difficult to generalize, saying what’s going to work really well for Boston is going to work well for Phoenix is going to work well for Seattle. Each one of them has such different dynamics.

But the idea of investing in downtowns and really creating something where people want to be, where they want to live, where they want to work, those are really laudable goals and something we try to bring into all of our developments.

We believe strongly in urban cores. We think that the advantages are really strong. There’s lots of things to think about affordable housing, transportation, traffic, all of those sorts of things. But a thoughtfully-designed city with thoughtfully-designed projects really has that potential to help with either revitalization or emphasis on urban cores, depending on the particular city.

Bisnow: What are the ingredients needed for a project to be something you’re excited about?

Awe: The opportunity to spend a lot of time in a city, so multiphased projects, mixed uses that really complement one another. And the opportunity to engage with stakeholders, whether it’s elected officials, residents, businesses, other community organizations, [and] really understanding what is important to all those folks. Often, the same thing is not important to different stakeholder groups. [We’re] really trying to treat that as a bit of a challenge and understand those different perspectives, and how do we try to bring all those perspectives together into something that we and the city and all of those stakeholder groups could be proud of?

Bisnow: Tell me about a project that you worked on that meant a lot to you. What did you learn from it and why was it important?

Awe: The Fan Pier project here in Boston is really important to me. It was the first project I worked on as a lawyer, and we just closed the financing and started construction on the final phase. It’s been really great just to see the life cycle of a large, mixed-use project like that over the course of a decade-plus and just getting to realize the vision that folks had years and years ago. Also trying to adapt it to ongoing issues that arise — electrification of buildings, EV spaces, climate change, resiliency — all of those different features that perhaps folks just didn’t think as much about 20-25 years ago when the project was being permitted but are critical needs now. Figuring out how to make accommodations and adaptations for those different factors has been really exciting, and it’s really fantastic to see this project come to completion right as we start another project that’s similar in a lot of ways in Nashville. 

Courtesy of Brian Awe

Brian Awe with his wife, Meghan

Bisnow: What does the future hold for The Fallon Co.?

Awe: The future is projects a lot like the East Bank, hopefully on the same scale but in the markets where we really like to focus. We do see life science coming back in key markets. Demand is about where it was in Boston in 2019 — there’s still a lot of capacity, but I think the really well-located projects will be ones that will be quite successful. We have a couple in Boston right now that are either just permitted or are nearing the end of permitting that we’re really excited to move forward as the market continues to improve.

Then, really continuing our projects in Charlotte and Nashville and Raleigh as well, continuing to increase the presence there.

Bisnow: Is there a white whale project that you’d love to tackle someday? 

Awe: I think we have it. The East Bank project now is really that hugely complicated, but therefore hugely satisfying, project that we’re spending quite a bit of time on. [We’re] thinking really hard about how to make that Nashville’s newest neighborhood, which is really something that’s quite exciting to say. Starting now, we’re really underway on that, but continuing for a number of years until we’re able to fully build out that same space.

Bisnow: Give us a bold prediction for the rest of the year.  

Awe: We’re going to see a lot more movement in the real estate equity markets. There’s been a lot of folks that, I believe, have been sitting on a lot of capacity and waiting for the uncertainty in the world to settle down a little bit. Market uncertainty, interest rate uncertainty, presidential election uncertainty. As some of those start to come into a bit more clarity, I think the equity players on the market will start to make some more investments, and that’ll be good all the way around for the real estate community.

Bisnow: What is your weekend routine or favorite weekend activity? 

Awe: Weekends alway end up with a long run or a long swim in some way. I like to dabble in ultramarathons … so I always end up waking up early [and] getting the exercise done. Then I spend a lot of time with my wife and my two daughters, just getting out and around Boston and New England. There’s so much to do here, and my daughters are at a really fun age for that.