Friday, January 17, 2025
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Lynn Peisner

A rendering of the first building of Clara Bay Harbor's first phase
DevelopmentFloridaNewsSoutheast

Clara Homes Breaks Ground on $26 Million First Phase of Miami Project

by Lynn Peisner

MIAMI — Clara Homes has closed on a $26 million construction loan provided by Maxim Capital to fund the first phase of Clara Bay Harbor in Miami. Construction will be completed in three phases. The first phase, which begins in March and is estimated to be complete by summer 2024, will yield one 28-unit building with one- to five-bedroom floor plans. Amenities will include a rooftop pool and fitness center. Construction of the remainder of the project, which consists of 122 units within two additional six-story buildings, will begin later …

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Park at Humble exterior pool
DevelopmentNewsTexas

FTK Construction Selected for $12.2 Million Renovation of Houston-Area Property

by Lynn Peisner

HUMBLE, TEXAS — FTK Construction Services has been selected as the general contractor to lead a $12.2 million renovation of The Park at Humble Apartments in Humble, about 20 miles northeast of Houston. The owner of the property is Bellevue, Washington-based DevCo Residential Group. Regions Bank is the lender for the rehabilitation-project construction loan. The property was built in 2005 and has 216 one-, two- and three-bedroom townhome units. Construction will begin in May. The property’s interior renovations will include new paint, cabinetry, countertops, plumbing fixtures, flooring, light fixtures and …

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Rendering of Loci Capital and Maifly Development's affordable housing project in Tampa
Affordable HousingDevelopmentFloridaNewsSoutheast

Loci Capital, Maifly Break Ground on Mixed-Use Project in Tampa, Florida

by Lynn Peisner

TAMPA, FLA. — Loci Capital and Maifly Development have broken ground on an unnamed 6-story, 321-unit community in the Tampa Heights neighborhood. The project cost was not disclosed. Thirty-two of the units will be earmarked for residents earning no more than 80 percent of the area median income (AMI), per a negotiation with the city of Tampa. The agreement calls for these residences to remain affordable for 30 years. The development also includes approximately 13,000 square feet of retail. Construction will be complete by approximately 2025. MW Builders is the …

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The pool area of Eden Apartments in Tempe
ArizonaInvestment SalesNewsWestern

IPA Brokers $26.5 Million Sale of Eden Apartments in Tempe, Arizona

by Lynn Peisner

TEMPE, ARIZ. — Institutional Property Advisors (IPA) has arranged the $26.5 million sale of Eden Apartments, a 112-unit community in Tempe. IPA Executive Managing Directors Cliff David and Steve Gebing represented the seller, Living Well Homes, and procured the buyer, Rise48 Equity. IPA Capital Markets’ Brian Eisendrath, Cameron Chalfant and their team arranged acquisition financing. Eden Apartments comprises eight buildings that rise two stories and are situated on five acres. Amenities include a pool, fitness center, a laundry facility, picnic area and courtyard. Individual units have a balcony or private patio.

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Farm Haus, AHV's new BTR property in San Antonio
Build-to-RentDevelopmentNewsTexas

AHV Communities Completes 142-Unit Build-to-Rent Project in San Antonio

by Lynn Peisner

SAN ANTONIO — Locally based single-family rental developer AHV Communities has completed its latest project in San Antonio, called Farm Haus. The duplex-style property includes 142 units available in two-, three- and four-bedroom floor plans. All units include two-car garages and fenced yards, as well as unit features such as quartz countertops; stainless steel, energy-efficient appliances; smart home technology and walk-in closets. Farm Haus’s 2,991-square-foot amenity building includes a fitness center, a kitchen, conference room and great room. Other community amenities include bocce courts, walking trails and a dog park.

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Broadstone Ingleside pool at night
Investment SalesNewsSouth CarolinaSoutheast

Cushman & Wakefield Arranges $77.5 Million Sale of Broadstone Ingleside in South Carolina

by Lynn Peisner

LADSON, S.C. — Cushman & Wakefield has arranged the $77.5 million sale of Broadstone Ingleside in Ladson, South Carolina, about 27 miles northwest of Charleston. Cushman & Wakefield’s John Phoenix, Louis Smart and Austin Green represented the undisclosed seller in the transaction. The community was acquired by a joint venture made up of Abacus Capital and Westbrook Partners affiliates. The 336-unit community was built in 2021 by Alliance Residential. Cline Design Associates was the architect on the project.

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A facade rendering of Diamond College Park, a new affordable community south of Atlanta
Affordable HousingDevelopmentGeorgiaNewsSoutheast

Tapestry Development Group, Swinerton Break Ground on Affordable Project Near Atlanta

by Lynn Peisner

COLLEGE PARK, GA. — Tapestry Development Group, along with construction partner Swinerton, has broken ground on Diamond College Park, about 10 miles south of Atlanta. The 60-unit, 79,000-square-foot property will include 26 one-bedroom and 34 two-bedroom units. Ten apartments will rent at market rates, 22 of the units will be capped at 50 percent of area median income (AMI), and the remaining 28 units will rent to tenants earning 60 percent or less of AMI. Good Places, which is an Atlanta-based development firm that focuses on adaptive-reuse affordable housing, is …

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Rendering of Abberly Riverwalk
DevelopmentInvestment SalesNewsSoutheastTennessee

HHHunt Acquires Abberly Riverwalk in Nashville for $106 Million

by Lynn Peisner

NASHVILLE, TENN. — HHHunt has acquired Abberly Riverwalk in Nashville for $106 million. JLL Capital Markets represented HHHunt and arranged a $62 million floating-rate bridge loan for the new owner. Abberly Riverwalk, formerly known as Alta Riverwalk, is a 304-unit community that is still under construction with completion expected by July. Abberly Riverwalk will offer studios and one- and two-bedroom floor plans as well as amenities such as an outdoor fire pit, fitness center, golf simulator, coworking spaces and an outdoor kitchen. The property sits along the Cumberland River near …

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Rendering of the upcoming affordable housing project HTG is developing in Bradenton, Florida
Affordable HousingDevelopmentFloridaNewsSoutheast

HTG Developing $34 Million Affordable Community in Bradenton, Florida

by Lynn Peisner

BRADENTON, FLA. — Housing Trust Group (HTG) is developing Riverview6, a $34 million affordable housing property in Bradenton, about 45 miles south of Tampa, Florida. The project, which is estimated to open by the middle of next year, will include 80 units reserved for residents earning at or below 70 percent of area median income (AMI). These rent restrictions equate to a range of $486 to $1,571 per month. Funding sources for Riverview6 include 9 percent Low-Income Housing Tax Credit equity syndicated through Raymond James; a construction loan through Fifth …

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Rendering of NRP Group's seventh Charlotte development, South Tryon
DevelopmentNewsNorth CarolinaSoutheast

NRP Group Breaks Ground on South Tryon in Charlotte, North Carolina

by Lynn Peisner

CHARLOTTE, N.C. — The NRP Group has broken ground on South Tryon, a 310-unit community in Charlotte’s South End neighborhood. The project cost was not disclosed, but Canyon Partners Real Estate (Canyon) has provided a preferred equity investment, and CIBC Bank USA has provided a construction loan. South Tryon is Canyon’s seventh equity transaction with The NRP Group. The five-story development will include a mix of one-, two- and three-bedroom apartments. Den floor plans will be available for one-bedroom units to accommodate post-pandemic, work-from-home trends. The NRP Group says South …

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