Miami

HarborChase Cordova is the second development of the partnership in the East Memphis area. Their HarborChase of Germantown project is under development and anticipated to open in the summer of 2019.

The closing on the property marks the second Jacksonville acquisition for the Fogelman-Thackeray partnership in the past 120 days and grows Fogelman's Jacksonville portfolio to more than 1,900 units.

The REIT states that the 330,000-square-foot first phase of the 102-acre mixed-use development opens today at 93% leased. Some of its major tenants include: TJ Maxx, Hobby Lobby, Ulta, Lucky's Market, BrandsMart, Five Below, Starbucks and YouFit Health Club.

The Silicon Valley-backed company, founded by Rami Zeidan, a hotel and real estate executive and Yury Yakubchyk, a software entrepreneur, has raised $70 million in funding to date between venture and real estate capital.

"The dynamic of muted wage growth in the low-to-medium skill jobs and a growing middle-class renter cohort leads us to invest in the space that has the highest demand with little to no new supply,” says M. Patrick Carroll, chief executive officer of Carroll Organization.

Moody's Analytics estimates total damage from the Category 4 storm at between $16 billion and $20 billion.