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Latest News: RD Management Announces Completion of Major Redevelopment at Casselberry Exchange Shopping Center, Welcomes New BJ's Wholesale Club

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  • RD Management Announces LA Fitness Under Construction at Tampa RITHM

    TAMPA, Fla., March 6, 2026 /PRNewswire/ -- RD Management is proud to announce that LA Fitness is officially under construction at Tampa RITHM, delivering a 29,944-square-foot, state-of-the-art, full-service sports club to the transformative mixed-use redevelopment in Tampa. The new club is scheduled to open in 2026. Designed to serve residents, students, and the surrounding community, LA Fitness will offer a wide range of amenities and fitness options, with many classes included at no additional charge. The club will feature extensive strength and cardio equipment, group fitness programming, and modern facilities focused on helping members achieve their health and lifestyle goals. Conveniently located within Tampa RITHM and supported by ample parking, the club reinforces the project's emphasis on accessibility and community engagement. Tampa RITHM represents the comprehensive repositioning of the former University Mall into a dynamic live-work-learn-play destination integrating retail, student housing, market-rate multifamily residences, hospitality, education, and innovation space. "Tampa RITHM represents the future of mixed-use redevelopment," said Richard Birdoff, Co-Chief Executive Officer of RD Management. "The addition of LA Fitness further strengthens our vision of creating a vibrant destination that serves the everyday needs of the community." Retail Tampa RITHM continues to attract a strong lineup of national brands. Newly added pad site tenants include Portillo's, Miller's Ale House, and RaceTrac. These complement existing pad site businesses, LongHorn Steakhouse, KFC, and Panda Express. The Shoppes at RITHM feature: Sprouts Farmers Market – 23,218 square feet (open) Burlington – 50,000 square feet (open) LA Fitness – 29,944 square feet (under construction, opening 2026) Together, these retailers provide daily necessities, dining, lifestyle services, and now premier health and wellness amenities for residents, students, and the surrounding community. Student Housing: Nearly 5,000 Beds Across Five Communities In partnership with Core Spaces, Tampa RITHM includes two student housing developments totaling approximately 2,000 beds. Hub 1, which opened in 2022, delivers approximately 891 units and a 700-stall garage, supported by rooftop resort-style pools, fitness facilities, study lounges, and collaborative social spaces. Hub 2, currently under construction, is a $185 million development scheduled to open in summer 2027 for the 2027–2028 academic year. The project will deliver 1,167 beds and an 800-stall garage with integrated parking and expanded amenity offerings designed for today's student lifestyle. Three additional student communities in the area developed by Landmark Properties bring the combined total to nearly 5,000 beds, reinforcing Tampa RITHM's role as a premier student living hub. Multifamily & Hospitality Expanding the residential mix are 300+/- market-rate multifamily apartment units with construction scheduled to commence in 2026. "The momentum we are seeing at Tampa RITHM reflects our long-term vision," said Mike Carroll, Co-Chief Executive Officer of RD Management. "With LA Fitness under construction and significant residential already in place, we are creating sustainable value for the community while delivering a dynamic environment where people can live, work, and connect." Innovation, Education & Entertainment Campus Tampa RITHM has also emerged as a center for innovation and community engagement, anchored by: University of South Florida Institute of Applied Engineering VU Studios – a 30,000-square-foot virtual production facility featuring professional sound stages and a 100-foot-wide LED volume screen Open Access Insurance – a national insurance agency specializing in Medicare health plans Sun-Ray Cinema – a 14-screen theater showcasing first-run films Additional development opportunities within RITHM include: 200,000 +/- square-foot office/research/medical building with existing 1,500-space parking deck 10 +/- acre premier development site Additional retail opportunities Flex space Housing development sites Charter schools About RD Management RD Management maintains in-house expertise in leasing, property management, construction, accounting and finance, legal, and information technology. For more than five decades, the firm's disciplined, hands-on approach has strengthened asset value through renovation, re-tenanting, expansion, and forward-thinking redevelopment. Media Contact Bradley Schwartz bschwartz@rdmanagement.com t. (212) 265-6600 x298 SOURCE RD Management

  • RD Management LLC Announces Formation of RD Property LLC and Closing of $350 Million Credit Facility

    NEW YORK, Sept. 30, 2025 /PRNewswire/ -- RD Management LLC, a leading real estate investment and management firm, today announced the successful consolidation of various affiliated partnerships into a newly formed entity, RD Property LLC. This strategic rollup unifies a diverse collection of real estate holdings under a single platform designed to streamline operations, enhance growth prospects, and strengthen capital resources. Simultaneously with its formation, RD Property LLC closed on a $350 million term loan and revolving credit facility. The credit facility provides the company with substantial financial flexibility and liquidity to support refinancing initiatives, reinvestment across its existing portfolio, and the pursuit of new opportunities. "We are pleased to announce the creation of RD Property LLC, which marks an important milestone for our platform," said Richard Birdoff, Co-CEO of RD Management LLC. "The consolidation of these partnerships establishes a stronger and more efficient ownership structure, while the closing of this $350 million credit facility reflects the confidence of our lending partners in the quality of our assets, and management's long-term strategy," said, Michael Carroll, Co-CEO of RD Management LLC. RD Property LLC's portfolio consists of 50 properties nationwide totaling 4 million square feet, encompassing retail shopping centers, self-storage, hotel and net lease, strategically located across major U.S. markets. The company's newly secured capital structure positions it to optimize asset performance, execute capital improvements, and expand its footprint through selective acquisitions. The financing was led by KeyBank, National Association, as Joint Lead Arranger and Administrative Agent, and a syndicate of leading financial institutions including The Bank of New York Mellon, The Huntington National Bank, and PNC Bank, as Joint Lead Arrangers and Co-Syndication Agents. RD Property LLC was represented by Bass, Berry and Sims and Roberts & Holland. KeyBank and the lending group were represented by Riemer & Braunstein. About RD Management LLC / RD Property LLC RD Management LLC is a premier real estate investment and management firm with decades of experience acquiring, developing, and managing high-quality assets across the United States. With the formation of RD Property LLC, the company has unified a national, 50-property portfolio under one cohesive platform to drive growth, efficiency, and long-term value creation. For media inquiries, please contact: Michael Carroll Co-CEO 212-265-6600 ext.432 mcarroll@rdmanagement.com SOURCE RD Management

  • Michael Carroll, John Hayes Join RD Management

    Michael Carroll and John Hayes have joined New York City-based RD Management LLC, a property owner and operator with a portfolio comprising more than 170 properties throughout the continental U.S. and Puerto Rico.

  • University Mall Redo Plans 3,000 Student Housing Beds

    It's called RITHM—the acronym, derived from the word algorithm, stands for Research, Innovation, Technology, Humanity & Medicine—and when the 100-acre, 7M SF mega-project is finally completed in Tampa's Uptown District, it will cover all of those sectors. The mixed-use redevelopment of the 1.3M SF University Mall is being built in phases by RD Management, which this month unveiled the scope of the student housing component. RD is partnering with Core Spaces on the student housing space, which envisions a total of 3,000 beds, 150 conventional units and 10K SF of retail in the student housing part of the project.

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  • RD Management Announces LA Fitness Under Construction at Tampa RITHM

    TAMPA, Fla., March 6, 2026 /PRNewswire/ -- RD Management is proud to announce that LA Fitness is officially under construction at Tampa RITHM, delivering a 29,944-square-foot, state-of-the-art, full-service sports club to the transformative mixed-use redevelopment in Tampa. The new club is scheduled to open in 2026. Designed to serve residents, students, and the surrounding community, LA Fitness will offer a wide range of amenities and fitness options, with many classes included at no additional charge. The club will feature extensive strength and cardio equipment, group fitness programming, and modern facilities focused on helping members achieve their health and lifestyle goals. Conveniently located within Tampa RITHM and supported by ample parking, the club reinforces the project's emphasis on accessibility and community engagement. Tampa RITHM represents the comprehensive repositioning of the former University Mall into a dynamic live-work-learn-play destination integrating retail, student housing, market-rate multifamily residences, hospitality, education, and innovation space. "Tampa RITHM represents the future of mixed-use redevelopment," said Richard Birdoff, Co-Chief Executive Officer of RD Management. "The addition of LA Fitness further strengthens our vision of creating a vibrant destination that serves the everyday needs of the community." Retail Tampa RITHM continues to attract a strong lineup of national brands. Newly added pad site tenants include Portillo's, Miller's Ale House, and RaceTrac. These complement existing pad site businesses, LongHorn Steakhouse, KFC, and Panda Express. The Shoppes at RITHM feature: Sprouts Farmers Market – 23,218 square feet (open) Burlington – 50,000 square feet (open) LA Fitness – 29,944 square feet (under construction, opening 2026) Together, these retailers provide daily necessities, dining, lifestyle services, and now premier health and wellness amenities for residents, students, and the surrounding community. Student Housing: Nearly 5,000 Beds Across Five Communities In partnership with Core Spaces, Tampa RITHM includes two student housing developments totaling approximately 2,000 beds. Hub 1, which opened in 2022, delivers approximately 891 units and a 700-stall garage, supported by rooftop resort-style pools, fitness facilities, study lounges, and collaborative social spaces. Hub 2, currently under construction, is a $185 million development scheduled to open in summer 2027 for the 2027–2028 academic year. The project will deliver 1,167 beds and an 800-stall garage with integrated parking and expanded amenity offerings designed for today's student lifestyle. Three additional student communities in the area developed by Landmark Properties bring the combined total to nearly 5,000 beds, reinforcing Tampa RITHM's role as a premier student living hub. Multifamily & Hospitality Expanding the residential mix are 300+/- market-rate multifamily apartment units with construction scheduled to commence in 2026. "The momentum we are seeing at Tampa RITHM reflects our long-term vision," said Mike Carroll, Co-Chief Executive Officer of RD Management. "With LA Fitness under construction and significant residential already in place, we are creating sustainable value for the community while delivering a dynamic environment where people can live, work, and connect." Innovation, Education & Entertainment Campus Tampa RITHM has also emerged as a center for innovation and community engagement, anchored by: University of South Florida Institute of Applied Engineering VU Studios – a 30,000-square-foot virtual production facility featuring professional sound stages and a 100-foot-wide LED volume screen Open Access Insurance – a national insurance agency specializing in Medicare health plans Sun-Ray Cinema – a 14-screen theater showcasing first-run films Additional development opportunities within RITHM include: 200,000 +/- square-foot office/research/medical building with existing 1,500-space parking deck 10 +/- acre premier development site Additional retail opportunities Flex space Housing development sites Charter schools About RD Management RD Management maintains in-house expertise in leasing, property management, construction, accounting and finance, legal, and information technology. For more than five decades, the firm's disciplined, hands-on approach has strengthened asset value through renovation, re-tenanting, expansion, and forward-thinking redevelopment. Media Contact Bradley Schwartz bschwartz@rdmanagement.com t. (212) 265-6600 x298 SOURCE RD Management

  • RD Management LLC Announces Formation of RD Property LLC and Closing of $350 Million Credit Facility

    NEW YORK, Sept. 30, 2025 /PRNewswire/ -- RD Management LLC, a leading real estate investment and management firm, today announced the successful consolidation of various affiliated partnerships into a newly formed entity, RD Property LLC. This strategic rollup unifies a diverse collection of real estate holdings under a single platform designed to streamline operations, enhance growth prospects, and strengthen capital resources. Simultaneously with its formation, RD Property LLC closed on a $350 million term loan and revolving credit facility. The credit facility provides the company with substantial financial flexibility and liquidity to support refinancing initiatives, reinvestment across its existing portfolio, and the pursuit of new opportunities. "We are pleased to announce the creation of RD Property LLC, which marks an important milestone for our platform," said Richard Birdoff, Co-CEO of RD Management LLC. "The consolidation of these partnerships establishes a stronger and more efficient ownership structure, while the closing of this $350 million credit facility reflects the confidence of our lending partners in the quality of our assets, and management's long-term strategy," said, Michael Carroll, Co-CEO of RD Management LLC. RD Property LLC's portfolio consists of 50 properties nationwide totaling 4 million square feet, encompassing retail shopping centers, self-storage, hotel and net lease, strategically located across major U.S. markets. The company's newly secured capital structure positions it to optimize asset performance, execute capital improvements, and expand its footprint through selective acquisitions. The financing was led by KeyBank, National Association, as Joint Lead Arranger and Administrative Agent, and a syndicate of leading financial institutions including The Bank of New York Mellon, The Huntington National Bank, and PNC Bank, as Joint Lead Arrangers and Co-Syndication Agents. RD Property LLC was represented by Bass, Berry and Sims and Roberts & Holland. KeyBank and the lending group were represented by Riemer & Braunstein. About RD Management LLC / RD Property LLC RD Management LLC is a premier real estate investment and management firm with decades of experience acquiring, developing, and managing high-quality assets across the United States. With the formation of RD Property LLC, the company has unified a national, 50-property portfolio under one cohesive platform to drive growth, efficiency, and long-term value creation. For media inquiries, please contact: Michael Carroll Co-CEO 212-265-6600 ext.432 mcarroll@rdmanagement.com SOURCE RD Management

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