CHARLOTTE, N.C. — Embrey has acquired seven acres around the historic North Davidson district in Charlotte to develop a new community called North Tryon. Amenities at North Tryon will include a clubhouse with a game room, business center with micro-offices and a conference room, fitness center and a pool. The development’s first residential units and clubhouse are expected to be available in the third quarter of 2025, with project completion scheduled in 2026.
PORT ST. LUCIE, FLA. — Berkadia has arranged a $37.5 million forward acquisition loan for Tavalo Tradition, a 216-unit build-to-rent development underway in Port St. Lucie. An investment vehicle managed by GTIS Partners purchased the townhome-style community from K. Hovnanian. Scott Wadler and Matt Nihan of Berkadia arranged the financing through an unnamed national bank on behalf of GTIS Partners, which will obtain the capital in draws. Tavalo Tradition will be situated within the 2,500-acre Tradition master-planned community. Units will come in two- and three-bedroom townhomes and average 1,387 to 1,494 …
MURFREESBORO, TENN. — Argyle Real Estate Partners has acquired Easton Place, a garden-style community in the Nashville, Tennessee suburb of Murfreesboro. Easton Place offers 184 units with stainless steel appliances, plank flooring and granite countertops. Amenities include a pool with cabanas and waterfall lighting, green spaces, a community fire pit and a clubhouse with a movie theater. Argyle Real Estate Partners plans to renovate the complex, although specific details regarding the planned improvements were not disclosed. Greystar will oversee the business plan for the asset, which will focus on driving …
ORLANDO, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Windrift in Orlando. Shelton Granade, Luke Wickham and Justin Basquill represented the seller, Bridge Investment Group, and procured the buyer, Eagle Property Capital. Windrift was built in 1986 and comprises 288 units. All apartments have open-concept floorplans, washers and dryers, screened patios, and window treatments. Amenities include green spaces, a fitness center, pool and covered playground area.
MESQUITE AND GRAND PRAIRIE, TEXAS — S2 Capital has acquired two properties totaling 768 units in the Dallas-Fort Worth metropolitan area. CBRE’s Danny Baker and William Hubbard represented the sellers in the deals. Harry Krieger represented S2 Capital in securing financing. The properties are Falltree in Mesquite and Silverbrook in Grand Prairie. Falltree is a 126-unit property located at 19200 Lyndon B Johnson Fwy. S2 Capital will renovate all units with stainless steel appliances, upgraded cabinetry, tile backsplash, granite countertops, wood-style plank flooring and contemporary fixtures. The clubhouse and pools …
HOUSTON — Partners Real Estate has brokered the sale of a building located at 4218 J St. in Houston. Ryan DeGennaro represented the seller, Mell Investment Group, in the transaction. Elaine Lan Nguyen of HomeSmart represented the buyer. The building offers eight apartments. According to LoopNet Inc., the property was built in 1963 and renovated in 2022.
MESQUITE, TEXAS — Marcus & Millichap brokered the sale of Landmark at Courtyard Villas, a 256-unit property in the Dallas suburb of Mesquite. The property was built in 1999 on 17 acres adjacent to Samuell Farm North regional park. The unit mix includes 120 one-bedroom units, 120 two-bedroom units and 16 three-bedroom units. Amenities include a fitness center, swimming pool, laundry facilities and a playground. ShainRealty Capital acquired the asset from a California-based owner in a 1031 exchange. Wes Racht, Nick Fluellen and Bard Hoover of Marcus & Millichap’s Dallas …
DURHAM, N.C. — Marcus & Millichap has arranged the $84.8 million sale of Kelby Farms, a 277-unit community situated on 10 acres in Durham. John Daly of Marcus & Millichap’s Raleigh office represented the buyer, King Properties Inc., a privately held multifamily owner and operator. The seller was a partnership that includes Raleigh-based Woodfield Development. Kelby Farms was built in 2022. The community is currently under construction and is slated for completion next month. The asset was more than 70 percent occupied at the time of sale. Kelby Farms offers studio, …
— By Peter DiCorpo, COO, Brook Farm Group — The multifamily sector has been on a tremendous run for more than a decade, attracting record levels of new construction and capital and generating strong rent growth that has occasionally reached into the double digits. However, given the recent economic and market headwinds, some might conclude that this notable level of activity is over, but that is not the case. Instead, there are clear signs that this sector is poised for long-term growth and will continue to deliver solid returns for …
LAKEWOOD, COLO. — Pinnacle Real Estate Advisors has arranged the purchase of a building located at 8447-8449 W. Dakota Ave. in Lakewood. The eight-unit property traded hands for $2.1 million in an all-cash transaction. Josh Newell, Connor Knutson and Jake Waxter of Pinnacle Real Estate Advisors represented the undisclosed buyer in the deal. The name of the seller was also not released.
