HILTON HEAD ISLAND, S.C. — Berkadia has arranged the sale of Cottages at Alex Patterson Place, a build-to-rent (BTR) property in Hilton Head. Berkadia represented the seller, a partnership between Putnam Atlantic Properties and Verde Capital, in the deal, which closed on June 25. The buyer was Florida-based Sakim Realty Holdings. The Cottages at Alex Patterson comes “permit-ready” for a second phase that could include the development of six additional cottages, according to Berkadia.
LAND O’LAKES, FLA. — Berkadia has arranged the sale of a 28.5-acre parcel. Brookfield Residential Land was the seller, and Maymont Homes was the buyer. The site, located in the master-planned community of Bexley 30 miles north of Tampa, is entitled for low-density multifamily. Maymont will partner with Dinerstein Cos. to develop a 250-unit build-to-rent (BTR) community on the site. The project will be complete by the fourth quarter of 2026. The unnamed project will include a mix of two- and three-bedroom residences featuring private yards, attached garages and access …
TAMPA, FLA. — Berkadia has arranged approximately $38.3 million in debt and equity for the refinancing of Pointe at Carrollwood owned by Miami-based Beacon Realty Group. Beacon bought the 224-unit Tampa asset in 2022 as a value-add acquisition and has since invested about $3.6 million in capital improvements. The firm will use the financing to retire existing acquisition debt. The property is currently 95 percent occupied. Berkadia arranged a $29.9 million, five-year fixed-rate Freddie Mac loan. In addition, Miami-based Atlantic Pacific Companies, a privately owned real estate firm, provided a …
CLEARWATER, FLA. — Sunrise Affordable Housing Group has arranged financing to convert The Indigo Apartments in Clearwater from a market-rate to an affordable community. Part of the financing includes a $20.3 million HUD loan arranged by Berkadia. Other sources of financing include federal Low-Income Housing Tax Credit (LIHTC) equity from R4 Capital, two loans from the City of Clearwater and land trust equity from Pinellas County. Following a renovation, the 208-unit tower will be converted from market-rate housing into affordable housing for families earning between 30 and 80 percent of …
JACKSONVILLE, FLA. — Berkadia has arranged the sale of Addison Landing in Jacksonville. WRH Realty out of St. Petersburg, Florida, sold the 289-unit community to Tampa-based Argyle Real Estate Capital. According to public records, the asset traded for approximately $44.8 million. Senior Director Greg Rainey and his team at Berkadia Central & North Florida represented the seller. Matt Robbins, Mitch Sinberg, Brad Williamson, Scott Wadler and Hugo Hernandez of Berkadia Boca Raton and Miami lined up financing for the buyers, which included a $31.3 million, Freddie Mac-backed loan with a …
TUKWILA, WASH. — Investors Management Group has sold Foster Creek, a 179-unit property in Tukwila, 12 miles south of Seattle. According to the Puget Sound Business Journal, the sales price was $28.3 million, and the buyer was Spokane Indian Housing Authority. Managing Directors Benjamin Johnson and David Sorensen, Director George Pallis, Associate Director Peter Dudunakis and Senior Managing Director Kenny Dudunakis of Berkadia Seattle led the transaction on behalf of the seller. Senior Managing Director Tim Leonard and Managing Director Chris Crump of Berkadia Dallas secured the acquisition financing on …
FORT LAUDERDALE, FLA. — Grover Corlew, a Boca Raton, Florida-based developer, has secured a $92 million construction loan to build Mayla Cypress, a 312-unit community in the Cypress Creek submarket of North Fort Lauderdale. Berkadia Managing Director Scott Wadler, Vice President Patrick Johnson, Senior Managing Director Mitch Sinberg, along with Brad Williamson and Matthew Robbins, managing directors of Berkadia Miami and Boca Raton, arranged the three-year construction loan provided by Affinius Capital. The deal closed on May 30. Mayla Cypress is situated on a 3.7-acre site Grover Corlew assembled in …
SPARTANBURG, S.C. — Orange Capital Advisors has sold The Lively Drayton Mills in Spartanburg to BridgeGaps Real Estate for $53 million. Senior Managing Directors David Lansbury and Jim Sewell and Managing Director Erika Maston of Berkadia Charleston led the transaction on behalf of the seller. The Lively Drayton Mills is a 297-unit, garden-style property located at 225 Milliken St. that was 92 percent occupied at the time of sale. It was developed in 2023 and features such amenities as a fitness center and pet spa.
LAKE WORTH, FLA. — Berkadia has arranged the sale of Aviara Lake Worth, a build-to-rent community in Palm Beach County. The seller was MAG Real Estate & Development of Delray Beach, Florida, and the buyer was Miami-based Corinthian Capital, a Florida-focused commercial real estate investment firm. The sales price was not disclosed. Aviara Lake Worth is a 36-unit townhome community that was built in 2019 on a 3.5-acre site at 3902 Melaleuca Lane in Lake Worth. It consists of three two-story townhome buildings containing 30 three-bedroom units and six four-bedroom …
ASHEVILLE, N.C. — Berkadia has arranged the sale of and financing for Highline North, a 168-unit, garden-style property in Asheville. South Carolina-based Graycliff Capital acquired the asset from North Carolina-based Carlisle Residential Properties for approximately $43.8 million. Berkadia Senior Managing Director Caleb Troop, Director Thomas Colaiezzi and Associate Director Matt Robertson of Berkadia Charlotte led the sale on behalf of the seller. Directors Jeremy Lynch and Jake Adoni of Berkadia’s Philadelphia office secured acquisition financing through Freddie Mac on behalf of Graycliff. The deal closed on May 15. Located at …
