Amenities are the personality of a multifamily property. They proclaim a community’s individuality and lure tenants with promises of a fun, relaxing or convenient lifestyle. What counts as a multifamily amenity today? If most renters and homeowners are accustomed to robust Wi-Fi or controlling their heating and air conditioning through their phones, is a smart thermostat or bulk internet something to advertise as an “extra,” or are these features a given nowadays, like a fridge or a microwave? “Want versus need is a spectrum when it comes to multifamily amenities,” …
Southeast
KISSIMMEE, FLA. — ZMR Capital, an investment firm based in Tampa, Florida, has secured a $42.5 million bridge loan for Skye at Hunter’s Creek, a 216-unit community located at 1300 Santa Rosa Drive in Kissimmee. Brad Williamson, Wesley Moczul, Mitch Sinberg, Matt Robbins and Scott Wadler of Berkadia arranged the loan on behalf of the borrower. Nuveen Real Estate provided the three-year, floating-rate loan, which was underwritten with two one-year extension options, full-term interest only payments, a 68 percent loan-to-value ratio, an interest rate cap and flexible prepayment terms. Built …
WILLIAMSBURG, VA. — Breeden Construction has delivered Governor’s Inn, a 164-unit community in Williamsburg, roughly 50 miles east of Richmond, Virginia. An entity doing business as CDG Holdings LLC is the developer behind the $33.5 million project. Governor’s Inn consists of six residential buildings that rise two to four stories. Amenities include a pool, fitness center, outdoor grilling station and a clubhouse.
OXFORD, FLA. — JLL Capital Markets has brokered the sale of The Mark at Wildwood, a 294-unit community located at 3795 Bismark Court in Oxford, approximately 60 miles northwest of Orlando, Florida. Cliff Taylor, Joe Ayers, Ryan Hixon, Tucker Brooks and Mike Scott of JLL represented the sellers, Varden Capital Properties and Tellus Partners, in the deal. TriBridge Residential purchased the asset for an undisclosed price. The Mark at Wildwood was completed in 2023. The community offers a mix of one-, two- and three-bedroom floor plans, including flat and carriage …
MIAMI, FLA. — RKW Residential has added three new properties totaling 1,100 apartments to the company’s management portfolio in Florida. The firm will oversee the management and leasing of Metro Parc, The Atlantic by Soleste and Vive. Metro Parc is a 559-unit development in Hialeah, approximately 11 miles north of Miami. MG Developer and Baron Property Group are developing the project. Metro Parc is located within Metro Center, a mixed-use development that will feature roughly 2.3 million square feet of residential and retail real estate. The Atlantic by Soleste is a 253-unit project in …
Black Ridge Purchases 123-Unit Cielo at Normandy in Jacksonville, Florida, from Zavala Capital Group
JACKSONVILLE, FLA. — Berkadia has brokered the sale of Cielo at Normandy, a 123-unit community located at 1570 Lane Ave. S in Jacksonville. Cielo at Normandy was built in 1974. The community offers a mix of one-, two- and three-bedroom apartments. The average unit size is 933 square feet. Amenities include a pool, clubhouse, laundry facility and playground. Black Ridge purchased the property from Zavala Capital Group for an undisclosed price. Greg Rainey led the Berkadia team in representing the seller in the transaction.
MIAMI — Marcus & Millichap has arranged the sale of The Vine on NE 35th Street, a 36,000-square-foot development site located at 404-436 NE 35th Street in the Edgewater district of Miami. The asset traded hands for $15.1 million. The Vine on NE 35th Street spans six parcels. The site is under Miami 21’s T6-36A designation and allows for up to 124 residential units or 248 hotel units. Ryan Shaw of Marcus & Millichap’s Miami office exclusively marketed the property on behalf of the seller, G&L Associates at 35th Street …
CHARLOTTE, N.C. — JLL Capital Markets has secured a $43.6 million loan to finance the construction of McAlpine Vista, a 320-unit development in Charlotte. Matthew Schoenfeldt of JLL arranged the three-year, non-recourse, floating-rate loan through Hartford Investment Management Co. (HIMCO) on behalf of the borrower, Vista Residential Partners. Situated on 14.8 acres at 8011 Krenfeld Drive, McAlpine Vista will comprise 320 apartments. Units will come in one-, two- and three-bedroom floor plans. Amenities will include a 7,750-square-foot clubhouse with a fitness center, coworking spaces and a club room, as well …
LYNN HAVEN AND TALLAHASSEE, FLA. — CBRE has arranged three loans totaling $99.7 million for the refinancing for three communities in Florida. Two of the properties are situated in Lynn Haven, roughly 13 miles north of Panama City Beach, Florida. The third community is located in Tallahassee. The borrower was Tallahassee-based Arbor Properties Inc. The loans included a Fannie Mae loan for Arbor Trace Apartment Homes, a 336-unit property in Lynn Haven that was built in 2007; a Fannie Mae loan for Arbor Crossing at Buck Lake, a 208-unit community …
WILLIAMSBURG, VA. — Hamilton Zanze has sold Woods of Williamsburg, a 125-unit garden-style community situated at 108 Tilghman Court in Williamsburg. The seller and sales price were not disclosed. The sale marks the San Francisco-based investment firm’s fourth disposition in 2024. Hamilton Zanze originally sponsored the acquisition of the property in 2018. The company conducted various renovations at the property, including the repainting of building exteriors as well as updates to the pool area and amenity spaces. Woods of Williamsburg was built in 1978. The community offers studio, one-, two- …