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Havens-at-Hickory-Tree-St-Cloud
Build-to-RentDevelopmentFinanceFloridaNewsSoutheast

Joint Venture Secures $35.1M Refinancing for Newly Completed BTR Project in Orlando Metro

by Lynn Peisner

ST. CLOUD, FLA. — Adam America Real Estate and Stellar Communities have obtained a $35.1 million construction takeout loan for Havens at Hickory Reserve, a newly completed 134-unit townhome build-to-rent community in St. Cloud, about 30 miles south of Orlando. The joint venture secured the financing through lender CoreVest Finance. Walker & Dunlop arranged the loan. Stellar is an Aventura, Florida-based developer, while Adam America Real Estate also is a development firm and is headquartered in New York City. Located at 4896 Stellar Drive, Havens at Hickory Tree Reserve offers …

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Maple-Knoll-Westfield
FinanceIndianaInvestment SalesMidwestNews

Hudson Investing Secures $52.1M in Debt and Equity to Acquire Metro Indianapolis Asset

by Lynn Peisner

WESTFIELD, IND. — Locally based Hudson Investing has obtained financing to acquire Maple Knoll Apartments, a 300-unit community in the Indianapolis suburb of Westfield. Northmarq’s Annamarie Bjorklund and Cody Field arranged a Freddie Mac loan and secured equity from Torchlight Investing. The financing totals $52.1 million. Located at 500 Bigleaf Maple Way in Westfield, the garden-style property was built in 2007 and features 18 three-story buildings with one-, two- and three-bedroom units averaging 1,002 square feet. Hudson is planning a value-add repositioning strategy to grow rents.

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Monticello-Seattle
Investment SalesNewsWashingtonWestern

Nordic Real Estate Buys Monticello in Seattle’s First Hill

by Lynn Peisner

SEATTLE — Nordic Real Estate has acquired Monticello, a 107-unit community at 415 Boren Ave. in Seattle’s First Hill neighborhood. Dylan Simon, Jerrid Anderson and JD Fuller of Kidder Mathews represented the undisclosed seller and sourced the buyer. Nordic Real Estate specializes in buying and renovating older properties in the Seattle region. Monticello was built in 1957 and is comprised of 42,342 rentable square feet.

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Marine-Drive-Buffalo
Affordable HousingDevelopmentNew YorkNewsNortheast

Habitat Starts Construction of First Phase of $600M Affordable Housing Redevelopment in Buffalo, New York

by Lynn Peisner

BUFFALO, N.Y. — The Habitat Co., along with partners Duvernay + Brooks and Bridges Development, an affiliate of the Buffalo Municipal Housing Authority, has started construction of the first phase of the Marine Drive Apartments public housing redevelopment in Buffalo. The $250 million first phase will include 254 affordable apartments across four newly constructed residential buildings. Built in the 1950s, the existing seven-building Marine Drive public housing complex faced aging infrastructure and dated building systems. The three-phase redevelopment will replace the original 616 apartments with approximately 730 new homes. Phase …

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Metro-Parc-Hialeah
DevelopmentFinanceFloridaNewsSoutheast

Baron Property Group Lands $226.5M Refinancing for Miami Project

by Lynn Peisner

HIALEAH, FLA. — Baron Property Group (BPG) has closed on a $226.5 million refinancing for Metro Parc, a 559-unit development in Hialeah that is now 50 percent leased. The financing replaces the project’s construction loan and serves as a bridge to permanent financing. The lenders were Madison Realty Capital and Yellowstone Real Estate. HKS Real Estate Advisors and DIA Capital Group advised BPG. Ben Suky of Bensco arranged the financing. Designed by Modis Architects, Metro Parc is the first phase of BPG’s 2.3-million-square-foot mixed-use development in Hialeah. The property is …

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Verona-Fairburn
DevelopmentGeorgiaNewsSoutheast

Vida Cos. Developing Verona in Metro Atlanta

by Lynn Peisner

FAIRBURN, GA. — Vida Cos., an Atlanta-based multifamily, mixed-use and build-to-rent developer, has broken ground on Verona, a 280-unit community in Fairburn, approximately 20 miles southwest of Atlanta. Verona will consist of four-story garden-style buildings containing one-, two- and three-bedroom units, all with balconies. Amenities include a courtyard with a saltwater pool and grilling stations, a fitness center, clubhouse, coworking lounge, indoor mail kiosks, a dog park and private and public green spaces. The project also includes a 1,500-square-foot retail space for a coffee shop that will be open to …

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Wyndchase-Aspen-Grove-Franklin
Investment SalesNewsSoutheastTennessee

Waterton Buys Metro Nashville Asset for $128M

by Lynn Peisner

FRANKLIN, TENN. — Waterton, a Chicago-based real estate investor and operator, has acquired Wyndchase Aspen Grove in Franklin. The Nashville Business Journal reports the sales prices was approximately $128 million and the seller was an affiliate of Boston-based Berkshire Residential Investments. The 560-unit garden-style property was built in 1997 and offers one-, two- and three-bedroom units complemented by a game room, fitness center, dog park, two resort-style pools, an outdoor fireplace and an outdoor kitchen and grilling stations. Waterton is planning to update residences with the addition of quartz countertops, …

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Bend-on-Bluebonnet-Baton-Rouge
FinanceLouisianaNewsSoutheast

JLL Arranges $42.8M Refinancing for Bend on Bluebonnet in Baton Rouge

by Lynn Peisner

BATON ROUGE, LA. — JLL Capital Markets has arranged a $42.8 million loan to refinance Bend on Bluebonnet, a 301-unit luxury community at 10231 Bluebonnet Blvd. in Baton Rouge. TWG Development and Mandrake Capital Partners are the owners/borrowers. The lender was Balbec Capital. Bend on Bluebonnet was completed in 2023 on a 13-acre site and is comprised of one-, two- and three-bedroom units as well as a pool, 24-hour fitness center, coworking lounge, coffee bar, pet park with washing stations, grills and a firepit. Michael Zaremski and Clayton Ross headed …

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Colina-Hillside-Birmingham
AlabamaDevelopmentNewsSoutheast

Dobbins Group, Capstone Building Corp. Complete Development of Colina Hillside in Birmingham, Alabama

by Lynn Peisner

BIRMINGHAM, ALA. — Dobbins Group along with general contractor Capstone Building Corp., both locally based, have completed construction of Colina Hillside in Birmingham. The 475-unit property was designed by Williams Blackstock Architects and features two saltwater pools with cabanas and outdoor entertainment areas, pet spa and parks, a clubhouse, coworking areas, a firepit, electric vehicle charging stations, a market, garages, storage spaces and a walking path. Floor plans include one-, two- and three-bedrooms set within four- and five-story buildings.

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Grove-at-Cheney
AlabamaInvestment SalesNewsSoutheastStudent HousingWashingtonWestern

JV Secures $38.4M to Acquire Three Former Student Housing Properties

by Lynn Peisner

NEW YORK CITY — Eastman Residential and Triangle Capital Group have acquired a three-property portfolio of former student housing communities that will be converted to conventional multifamily assets. JLL arranged a $39.4 million three-year, floating rate acquisition loan. The portfolio consists of Grove at Cheney (192 units) in Cheney, Washington, Arch at Troy (192 units) in Troy, Alabama, and CB at Radford (222 units) in Radford, Virginia. Each property was originally developed as off-campus student housing but has underperformed because of distance from their respective university campuses relative to competing …

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