ORLANDO, FLA. — Avanath Capital Management has acquired Retreat at Valencia in Orlando from an undisclosed seller for $73.5 million. The Irvine, California-based affordable housing investment firm will reserve one half of the property’s 336 units for families earning up to 60 percent of area median income. The remaining 168 units will be rented at market rates. Avanath also plans to provide financial counseling programs, health and wellness initiatives and resident activities and events. Retreat at Valencia was built in 2001 and is comprised of one-, two-, three- and four-bedroom …
Southeast
CANTON, GA. — Dallas-based The Milestone Group has acquired Legends at Laurel Canyon, a 266-unit garden-style community in the Atlanta suburb of Canton. Legends at Laurel Canyon offers floor plans averaging 1,227 square feet and features a clubhouse, fitness center, resort-style saltwater pool, Amazon Hub Lockers, a car care center, bike racks and a pet park and spa. The gated community is comprised of one-, two- and three-bedroom units. The sales price and seller were not disclosed. The community was developed in 2020 on approximately 27 acres and is located …
RALEIGH, N.C. — Federal Capital Partners (FCP) has sold The Pointe at Midtown, a 365-unit community at 901 Navaho Drive in the North Hills area of Raleigh. According to the Triangle Business Journal, Kane Realty paid about $72.3 million for a 28-acre site that included The Pointe at Midtown as well as the Grove Towers office buildings. Chevy Chase, Maryland-based FCP was represented by Hunter Barron, Teddy Hobbs, Ryan Gavigan, Ben Bury and Woody Flythe of JLL in the sale. The Pointe at Midtown offers two- and three-bedroom floor plans and …
LOUISVILLE, KY. — Walker & Dunlop has arranged $96.7 million in refinancing for three recently built assets in Louisville owned by Highgates Group. Jonathan Zilber, Joel Chetner and Josh Geller secured three floating-rate, interest-only loans from an institutional lender. Proceeds will be used to repay existing debt, fund closing costs and return capital to investors. The properties are comprised of Belmond Flats (240 units), Cedar Creek Flats (168 units) and Glengrove Apartments (232 units). Highgates is a development firm with offices in Kentucky, New Jersey and the United Kingdom.
CHARLOTTE, N.C. and GREENVILLE, S.C. — Walker & Dunlop has arranged $47.8 million in bridge refinancings for two townhome rental communities in North Carolina and South Carolina. Michael Stepniewski, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Brown, Edward Leboyer and Nicholas Gilhooley arranged two floating-rate, interest-only loans provided by ACRES Capital on behalf of borrower Gordon Road Capital. The properties include One West End, an 86-unit community at 2701 Rozzelles Ferry Road in Charlotte and Maybrook Terraces, a 50-unit community located at 206 N. Leach St. in Greenville.
Trilogy Investment Breaks Ground on Build-to-Rent Community in Asheville, North Carolina
ASHEVILLE, N.C. — Trilogy Investment Co. in partnership with Provest Partners has closed on a construction loan and begun construction of REV3 at Pinnacle Meadows, a 73-unit build-to-rent townhome community in Asheville. Trilogy is an Atlanta-based investment and development firm, and Provest Partners is a Korean investment firm. REV3 will feature two- and three-bedroom townhomes, each with a one-car garage. REV3 Homes, a division of Trilogy Investment Co., will serve as the builder for the project. Completion is slated for the second quarter of 2027.
MAITLAND, FLA. — Bell Partners has purchased Trelago, a 350-unit community in Maitland, eight miles north of Orlando. The property has been renamed Bell Trelago. According to the Orlando Business Journal, the sales price was $111.3 million, and the seller was Kettler Inc. Developed in 2019, Bell Trelago is situated on 20 acres on Lake Hope. It is part of the Trelago mixed-used development that includes 135,000 square feet of retail including a future Trader Joe’s store. Walker & Dunlop arranged the sale. With this acquisition, Greensboro, North Carolina-based Bell …
ACWORTH, HOSCHTON, GA. — Newmark has arranged a $109.5 million loan for Ares Real Estate to refinance two Atlanta-area assets. ACORE Capital was the lender, with Jordan Roeschlaub, Nick Scribani, Chris Kramer and Sam Speciale leading Newmark’s team. The two properties are The Knox in Acworth and The Finch in Hoschton, delivered in late 2023 and early 2024 respectively and comprising 638 units. Both offer resort-style pools, fitness centers, resident lounges and media rooms and outdoor gathering areas.
NEWPORT NEWS, VA. — A joint venture between Washington, D.C.-based Penzance and McLean, Virginia-based Kettler has acquired the 396-unit Compass at City Center in Newport News. Drew White, Carter Wood and Cole Carns of Berkadia’s Richmond office arranged the sale on behalf of the sellers, C-III Capital Partners and Drucker & Falk. Patrick McGlohn, Brian Gould, Hunter Wood, Patrick Cunningham and Natalie Hershey of Berkadia DC Metro arranged an acquisition loan on behalf of Penzance and Kettler. Located at 501-A Waters Edge Drive, Compass at City Center was built in …
LOUISVILLE, KY. — CF Capital, a multifamily investment firm focused on assets in the Midwest and Southwest, has hired Alex Terauds as acquisitions principal. Terauds will work with the firm’s leadership and acquisition team to evaluate new investment opportunities. He has held prior leadership roles at Sunset Property Solutions, where he led approximately $120 million in acquisitions, and The Connor Group, where he oversaw acquisition underwriting, executing about $1.7 billion in dispositions and acquisitions as well as assisting in the launch of a preferred debt fund.