This is the fourth lease CommonGrounds Workplace has signed this year, as part of the company's $100 million Series A funding expansion program.

The fund will focus on value-add multifamily acquisitions throughout the Southeastern US.

Specifically, the retail sector experienced the greatest cap rate compression by four basis points to 6.23%. Moreover, this was the first quarter of downward cap rate movement for the retail sector following five consecutive quarters of upward movement.

The project is a joint venture with The McKinney Fund & Company, with Central Bank of St. Louis and Central Bank of the Midwest providing the construction financing for the project.