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Lynn Peisner

Lexington Park's facade in Smyrna, Georgia

Cushman & Wakefield Arranges $24 Million Value-Add Sale in Suburban Atlanta

by Lynn Peisner March 10, 2023

SMYRNA, GA. — Cushman & Wakefield has arranged the $24 million sale of Lexington Park in Smyrna, an Atlanta suburb about 22 miles from downtown. Castlegate Property Group sold the 156-unit asset to Knickerbocker Asset Management. Cushman & Wakefield’s Travis Presnell, Nathan Swenson and James Wilber represented the seller. Lexington Park was built in 1963. A pool, dog park and business center are among the property’s amenities. The former owner updated Lexington Park’s exterior with new paint, replaced signage and renovated the leasing office. Cushman & Wakefield says additional value-add …

March 10, 2023

A rendering of HARMON Legacy Trail in Sarasota

Development Florida News Southeast

Crescent Communities Breaks Ground on Market-Rate and BTR Projects in Sarasota, Florida

by Lynn Peisner March 9, 2023

SARASOTA, FLA. — Crescent Communities started construction of a multifamily community, RENDER Legacy Trail, and a build to rent (BTR) community, HARMON Legacy Trail, in Sarasota on March 1. The development sites are adjacent and will be part of the same neighborhood. RENDER, a joint venture with FCP, includes 450 units, in one- to three-bedroom floor plans. A self-service package area, 24-hour fitness center and co-working lounges are some of the amenities. HARMON Legacy Trail consists of 76 townhomes in three- and four-bedroom configurations. Both properties have direct access to …

March 9, 2023

The facade of Notion, a new luxury apartment community in Decatur, Georgia

Development Georgia News Southeast

Toll Brothers Opens Notion in Decatur, Georgia

by Lynn Peisner March 8, 2023

DECATUR, GA. — Toll Brothers Apartment Living has completed and opened Notion in Decatur, an Atlanta suburb about 7 miles east of downtown. Pondmoon Capital USA was a joint venture partner in the 290-unit project, financed in part by a $45.7 million construction loan from Santander Bank. Construction began in 2020. Dwell Design Studio was the architect for Notion, which is situated on a 3-acre site. The mid-rise community includes a mix of studio, one- and two-bedroom floor plans. According to the property website, rents range from approximately $1,597 to …

March 8, 2023

Rendering of Mosby Avalon Park near Tampa

Build-to-Rent Development Florida News Southeast

Middleburg Communities Buys Land, Breaks Ground on Two Tampa Projects Totaling $165 Million

by Lynn Peisner March 7, 2023

WESLEY CHAPEL, FLA. — Middleburg Communities has closed on two land parcels for two development projects in Wesley Chapel, about 25 miles northeast of Tampa, Florida. Mosby Avalon Park will be a 338-unit multifamily community, and Hamlet Avalon Park is a build-to-rent (BTR) project with 260 single-family homes, duplexes and townhomes. Construction will begin immediately on Mosby. Middleburg expects to break ground on Hamlet Avalon Park by approximately the second quarter of this year. The Mosby portion of the development is $85.5 million, and Hamlet Avalon Park will cost $79.5 …

March 7, 2023

Development News North Carolina Southeast

RXR Secures Site for $3 Billion Mixed-Use Project in Research Triangle

by Lynn Peisner March 6, 2023

APEX, N.C. — RXR has acquired a 1,000-acre development site in Apex, about 15 miles west of Raleigh, North Carolina. The New York City-based developer will build a $3 billion mixed-use project called Veridea on the site. Development plans include the construction of a new 340,000-square-foot campus in partnership with Wake Technical Community College as well as a new elementary school. In the first phase, RXR will develop about 1,000 multifamily units, and Lennar will develop 1,100 townhomes and single-family homes. Phase I also will include about 750,000 square feet …

March 6, 2023

Development News Southeast Tennessee

Chartwell and Southstar Break Ground on $500 Million Mixed-Use Project in Nashville Suburb

by Lynn Peisner March 3, 2023

FRANKLIN, TENN. — Chartwell Hospitality and Southstar, a developer active in Middle Tennessee, have begun construction of a $500 million, 22-acre mixed-use project called Aureum in Franklin, which is about 30 miles southwest of Nashville. The first phase will consist of 355 units for sale and for rent, which Chartwell Residential, an affiliate of Chartwell Hospitality, will develop. At completion, the development will consist of office space, retail and entertainment venues, along with two hotels to be developed by Chartwell Hospitality. In addition, Aureum, which is Latin for gold, will …

March 3, 2023

Alabama Development News Southeast

RCP Cos. Secures $62.1 Million Construction Loan for Huntsville Project

by Lynn Peisner February 28, 2023

HUNTSVLLE, ALA. — Northmarq has arranged $62.1 million in construction financing through an undisclosed regional bank for RCP Cos. The financing is partially funding the $108 million multifamily development called The Wellory. Locally based RCP, along with Grounded Capital Partners, is building the 328-unit property, with 13,582 square feet of ground-floor retail space, within its master planned MidCity District project. According to RCP, The Wellory will be a net zero community with a LEED Platinum rating. Amenities will include a clubroom, located on the sixth floor and dubbed “sky lounge,” …

February 28, 2023

View of the pool area at The Falls at Mill Creek in Nashville

Investment Sales News Southeast Tennessee

WhiteRock Buys Nashville Value-Add Property for $35.5 Million

by Lynn Peisner February 28, 2023

NASHVILLE, TENN. — Capstone has arranged the $35.5 million sale of The Falls at Mill Creek, a 204-unit community in Nashville, located about seven miles southeast of downtown. Capstone represented both the seller, Alexander Properties, and the buyer, WhiteRock Real Estate, who plans to upgrade the fitness center, clubhouse and exterior leisure areas. The property was built in 1973 and renovated in 2016. The Capstone transaction team was led by Adam Klenk, Austin Heithcock, Jordan Arand and Joshua White. Falls at Mill Creek is made up of one-, two- and …

February 28, 2023

Exterior pool shot of The Maggie, a new project in Jacksonville delivering in 2024.

Development Florida News Southeast

RangeWater Acquires Land for Its Sixth Jacksonville Development

by Lynn Peisner February 27, 2023

JACKSONVILLE, FLA. — RangeWater Real Estate has acquired 28.6 acres in the San Jose neighborhood of Jacksonville for the development of a 280-unit property. This project, called The Maggie, will be the Atlanta-based developer’s sixth in the Jacksonville market. ParkProperty Capital is RangeWater’s equity partner. San Jose is a historic neighborhood, founded in the early 1900s, that is about 8 miles south of downtown Jacksonville. The Maggie will feature a clubhouse with a meeting space, a resident’s lounge and a fitness center with cardio, yoga and strength training equipment. The …

February 27, 2023

Arkansas Build-to-Rent Development Southeast

ITEX Will Develop Cinema-Themed BTR Project in Fayetteville, Arkansas

by Lynn Peisner February 24, 2023

FAYETTEVILLE, ARK. — The ITEX Group and Time Warp Enterprises have released plans for The Aronson, a build-to-rent (BTR) project in Fayetteville that will be anchored by a new moviegoing concept from Austin, Texas-based Alamo Drafthouse Cinema. The 214 units will be available as single-family, duplex or triplex configurations. Amenities will include a clubhouse, fitness center, pool, playgrounds, dog parks and bike parking. The project is anticipated to deliver by 2024. The Aronson will be home to Alamo Drafthouse Cinema + Drive-In, developed via a partnership among Catchlight Entertainment, the …

February 24, 2023

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