JACKSONVILLE, FLA. — Becovic Management Group has sold The Preserve in Jacksonville to Safe Harbor Investments LLC. JLL Capital Markets arranged the sale, representing Becovic in the deal. The sales price was not disclosed. The Preserve, a 192-unit property built in 2024, is comprised of one-, two- and three-bedroom floor plans. Amenities include a resort-style pool with a sun deck, a 24-hour fitness center, coworking spaces with Wi-Fi and a resident lounge with a coffee bar and pet spa.
By Kim Young In multifamily leasing, striking the right balance between automation and human connection isn’t just a technological decision. It’s the difference between signing a lease and losing a prospect forever. According to the 2024 NMHC/Grace Hill Renter Preferences Survey Report, 73 percent of renters expect digital leasing options, yet 67 percent say personal interaction influences their decisions. These numbers tell a compelling story that every operator should heed. As managers, we aren’t merely optimizing workflows. We’re orchestrating living experiences that transform curious browsers into committed residents. Then we …
DALLAS — Franklin Street, a Tampa, Florida-based real estate firm whose services include investment sales and property management, has opened an office in Dallas and hired Chibuzor Nnaji as a managing director to lead a multifamily investment sales team. Prior to joining Franklin Street, Nnaji served as senior managing director at Global Real Estate Advisors (GREA). Dallas is Franklin Street’s 11th office. In May of this year, the firm opened its Nashville office, and in late 2024, it opened an office in Cincinnati, where the company’s student housing team is …
NEW YORK CITY — Lendlease has launched pre-leasing at The Riverie, an 834-unit mixed-income development in the Greenpoint area of Brooklyn that fronts the East River. Thirty percent of the units are designated affordable, but specific rent caps were not disclosed. Designed by Marvel Architects, The Riverie includes a 37-story and a 20-story tower with a connected mid-rise podium. The property also includes approximately 13,000 square feet of retail space, as well as an 18,000-square-foot public waterfront esplanade connecting to the India Street Pier, which is served by the NYC …
ORLANDO, FLA. — JSB Capital Group and BLD Group have sold M2 at Millenia, a 403-unit property in Orlando. JLL Capital Markets, representing the sellers, arranged the transaction. The buyer was Independence Realty Trust. The acquisition cost was not disclosed. Built in 2019, M2 at Millenia is a five-story community consisting of one-, two- and three-bedroom units. Amenities include a resort-style pool, 24-hour fitness center, yoga studio and an entertainment lounge with a kitchen, bar and outdoor grilling areas. M2 at Millenia also includes 4,216 square feet of ground-floor retail …
PARK RIDGE, N.J. — CBRE has arranged the $117 million sale of The James in Park Ridge, 27 miles north of Manhattan. Veris Residential was the seller. The buyer’s identity was not disclosed. The CBRE team representing Veris included Jeffrey Dunne, Stuart MacKenzie, Eric Apfel and Travis Langer of CBRE Institutional Properties and Roland Merchant and Tom Pryor of CBRE’s Investment Banking team. Built in 2021, The James consists of 240 units along with approximately 18,000 square feet of ground- floor retail space. Amenities include a fitness center with a …
HOUSTON — Locally based multifamily development firm BHW Capital has begun construction on Clayton at Tour 18, a 288-unit community located adjacent to the fairway of the 12th hole on the Tour 18 golf course in the Atascocita/Humble area of Northeast Houston. This project is BHW’s second multifamily development in the area. In 2020, the firm completed construction of The Park at Tour 18, a 241-unit community. BHW anticipates completion by the end of 2027, with leasing commencing in 2026. The one- and two-bedroom units will feature open-concept floorplans, built-in …
AUSTIN, TEXAS — PPR Capital Management has completed The Residences at Rubi, the private equity firm’s first ground-up construction project. PPR broke ground on the $21.7 million development in October 2023. IE2 Construction was the general contractor, and Avita Property Management is handling lease-up and property management. The 101-unit property offers a mix of affordable and market-rate units. Ten percent of units are reserved for tenants earning 30 percent of area median income (AMI) or below, 20 percent are rent capped at 50 percent AMI, and 20 percent are reserved …
LAUDERHILL, FLA. — Fairstead has completed the $17.7 million renovation of Lauderhill Point, a 176-unit affordable housing community in Lauderhill. Fairstead acquired Lauderhill Point in 2024 for $26.5 million. Total acquisition and redevelopment costs amounted to $68.7 million, or approximately $390,000 per residence. Financial partners on the acquisition included the Housing Finance Authority of Broward County, which helped obtain $40 million in tax-exempt bond financing, and the Florida Housing Finance Corp., which facilitated $25 million via the Low-Income Housing Tax Credit (LIHTC) program. Additional financial partners included Freddie Mac, PNC …
AUSTIN, TEXAS — DreamField Capital has secured a $23.4 million first mortgage loan provided by Mesa West Capital for the acquisition of Nichols Park, a 200-unit community in Austin. Thrive FP was the seller. The property, which was built in 1985 and features a mix of one- and two-bedroom units, was 96 percent occupied at closing. Amenities include a community lounge and coffee bar, a barbecue and picnic pavilion, a pool with poolside cabanas, a basketball court and a dog park. Three out of the 200 units have been recently …
