Southeast

Avilla-Land-O-Lakes

LAND O’ LAKES, FLA. — NexMetro has opened Avilla Silver Palm, a 180-home build-to-rent community in Land O’ Lakes, about 20 miles north of Tampa, Florida. This is NexMetro’s third Avilla Homes neighborhood in the greater Tampa market (the other two are Avilla Suncoast in Odessa and Avilla Cypress Creek in Sun City Center). Located at 11334 Zion Narrows Trail, Avilla Silver Palm sits on 26 acres and features mostly detached, single-level homes with private fenced backyards, front porches, optional garages and amenities such as a resort-style pool, outdoor lounge …

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Ibis-Park-St-Cloud

ST. CLOUD, FLA. — Berkadia has arranged a $19.1 million loan for Miami-based Bayshore Investment Partners’ (BIP) acquisition of Ibis Park at Harmony West in St. Cloud, about 30 miles south of Orlando. Ibis Park at Harmony West is a 101-home build-to-rent community. Coral Gables, Florida-based BIP bought the property from D.R. Horton for $29.4 million. Brad Williamson, Kyle Ryan, Mitch Sinberg, Scott Wadler and Matt Robbins of Berkadia Miami arranged the five-year, fixed-rate loan. This is the fourth Florida BTR community BIP has acquired from D.R. Horton. The other …

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Berkshire-Dilworth-Charlotte

CHARLOTTE, N.C. — Tishman Speyer has acquired Berkshire Dilworth, a 296-community in Charlotte. The purchase was completed with equity from a core-plus fund. The seller was Berkshire Residential. This marks the seventh acquisition by TS Plus fund which has raised $973 million to date. Previous fund acquisitions include industrial properties in Northern California and South Florida, as well as residential communities in Chicago, Dallas, Raleigh, North Carolina and Montclair, New Jersey. The Charlotte Business Journal reports the sale price was $76.3 million.  The property was completed in 2016 and currently …

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The-Statesman-Gallatin

GALLATIN, TENN. — Thompson Thrift has announced plans to develop The Statesman, a 340-unit community in Gallatin, approximately 30 miles northeast of downtown Nashville. Situated on 25 acres, The Statesman will feature a mix of three-story, garden-style buildings and two-story buildings with private entrances. Floor plans will be offered in one-, two- and three-bedroom layouts. Units will feature granite countertops, smart home technology, stainless steel appliances and patio, balcony or private yard options. Detached garages and an Amazon package hub will also be available. Other amenities include a pool, 24-hour …

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MacArthur-Park-Augusta

AUGUSTA, GA. — Berkadia has arranged the $40.6 million sale of MacArthur Park, a 290-unit garden-style community in Augusta. Christian DiCroce, Mike Riley, Jim Sewell, Dave Lansbury, and Erika Maston of Berkadia Charleston led the transaction on behalf of the unnamed seller. The buyer’s identity also was not disclosed. The asset was built in 2022 and was 91 percent occupied at the time of the sale. Located at 101 Little Rock Drive, the property features a saltwater pool, fitness center and business center. 

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Orchid-Run-Naples

NAPLES, FLA. — The Inland Real Estate Group of Cos. has sold Orchid Run, a 282-unit property in Naples, to Cardone Capital, a Miami-based firm founded by real estate investor and sales entrepreneur Grant Cardone. Matt Mitchell and Chris Burtner of Berkadia Florida arranged the sale on behalf of Inland. According Cardone’s investment memoranda on the deal, the asset traded for $89.8 million. The investment vehicle acquiring Orchid Run also plans to hold 282 Bitcoin, part of Cardone Capital’s strategy of pairing multifamily real estate with cryptocurrency exposure. Cardone Capital …

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Overlook-at-Garson-Atlanta

ATLANTA — The Atlanta Beltline, Pennrose, Radiant Development Partners and other project stakeholders broke ground Aug. 4 on Overlook at Garson, a 130-unit affordable housing community along the Atlanta Beltline’s Northeast Trail in the Lindbergh neighborhood. The studio, one- and two-bedroom units will be rent restricted at 50, 60 and 80 percent of the area median income. The single-building community will include parking and 10,300 square feet of commercial space on approximately 3 acres. Financial partners for the Low-Income Housing Tax Credit (LIHTC) project include Atlanta Beltline Inc., Invest Atlanta, …

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Altera-Heights-Apex

APEX, N.C. — Wood Partners and Marcus Partners have broken ground on Altera Heights in Apex. The 280-unit community is located at the intersection of Jenks and Wimberly roads and will be comprised of one-, two- and three-bedroom units, some of which will be income-restricted. Marcus Partners is providing an undisclosed sum of equity for the project. Altera Heights will have a freestanding clubhouse featuring a fitness center, coworking space and gaming and lounge areas. Additional amenities include a resort-style pool, outdoor fitness area, dog park and pet spa. The …

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Herndon-Atlanta

ATLANTA — Capstone Building Corp. has completed construction of Herndon Square Phase II, a $57 million development that’s part of the larger Legacy at Herndon Square redevelopment in Atlanta’s Westside. Atlanta Housing, Hunt and Pennrose are the developers, and the architect is Thriven Design. Herndon Square Phase II spans 335,348 square feet and consists of a six-story residential building featuring 201 apartments in one-, two- and three-bedroom floor plans. Thirty-one of the units are rented at market rates while the remaining apartments are rent-capped at 30 to 80 percent of …

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Ponte-Verde-West-Palm-Beach

WEST PALM BEACH, FLA. — Kamson Corp. has acquired the 400-unit Ponte Verde at Palm Beach Lakes in West Palm Beach for $90.5 million. The New Jersey-based buyer plans to convert the property from condos to multifamily. IPA’s Luke Wickham, Shelton Granade and Justin Basquill and Marcus & Millichap’s Evan Kristol brokered the sale. According to the brokerage team, condo conversions are increasing  in Florida as older properties face rising maintenance costs, mandatory structural reserve funding and evolving regulatory requirements. Ponte Verde at Palm Beach Lakes is a gated, two- …

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