Florida

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Affordable HousingDevelopmentFinanceFloridaNewsSoutheast

JV Secures $100M Construction Loan, Breaks Ground on South Florida Transit-Oriented Project

by Lynn Peisner

BOCA RATON, FLA. — A joint venture between South Florida-based developer 13th Floor Investments and Boston-based private equity firm Rockpoint has obtained a $100 million construction loan from Santander Bank for Link at Boca, a 340-unit property with 24,000 square feet of retail space in Boca Raton. The project was announced in 2025. Construction is expected to begin later this month. The developers estimate the project will be complete within two years. The project, located at 680 Yamato Road, is adjacent to the Boca Raton Tri-Rail station, which is a …

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FinanceFloridaInvestment SalesNewsSoutheast

Lakeside Villas in Miami Metro Sells for $23M

by Lynn Peisner

SUNRISE, FLA. — David Schwadrom has sold Lakeside Villas, a 116-unit, build-to-rent property in Sunrise, 36 miles north or Miami, for $23 million. The buyer is a joint venture consisting of MAP Communities, Highline Real Estate and 340 Properties. JLL arranged a $15.5 million acquisition loan on behalf of the buyer, while Marcus & Millichap arranged the sale on behalf of Schwadrom. The asset, built in 1984, had not traded during the past 30 years, approximately. The property sits on 14 acres and features single-family, two-bedroom, two-bathroom villas with private …

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Build-to-RentDevelopmentFloridaLeasing & MarketingNewsSoutheast

ARK Homes For Rent Opens Tampa Townhome Community

by Lynn Peisner

TAMPA, FLA. — ARK Homes For Rent has completed and opened Parkside, a 75-unit rental townhome community in Tampa. Units are offered as three- and four-bedroom floor plans, and amenities include walking paths and a dog park. Monthly asking rents start at $1,995. ARK Homes For Rent also offers a mobile app that helps residents pay rent, submit maintenance requests and work orders, access HOA information and shop in a tailored marketplace. It also includes access to the ARK Living platform, which provides custom health content and on-demand wellness features.

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Alejandro-Ensinck
DevelopmentFloridaIndustry VoicesInvestment SalesOperationsSoutheast

South Florida Is Safe Harbor for Latin American Real Estate Investors

by Lynn Peisner

The recent arrest and extradition of Venezuelan leader Nicolás Maduro has once again put political instability in Latin America back in the headlines. For many people in the U.S., it’s just another international news story. For Latin American investors, it’s a reminder of something they’ve lived with for years: Political and economic conditions can change quickly, and when they do, the impact on currency, regulation and personal wealth can be immediate. That reality has long shaped how and where capital moves. When uncertainty rises, investors tend to look for places …

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Affordable HousingFloridaInvestment SalesNewsSoutheast

Avanath Buys Orlando Mixed-Income Community for $73.5 Million

by Lynn Peisner

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 …

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FloridaInvestment SalesNewsSoutheast

Bell Partners Buys Trelago in Greater Orlando for $111 Million

by Lynn Peisner

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 …

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FloridaInvestment SalesNewsSoutheast

Westlight Capital Buys Six-Property Florida Portfolio for $162 Million

by Lynn Peisner

GAINESVILLE, FLA. — Westlight Capital has acquired a six-property, 1,432-unit portfolio in Gainesville for $162 million. Jubeen Vaghefi and Denny St. Romain of CBRE represented the undisclosed seller and arranged the $162 million acquisition loan for Westlight. The private real estate investment firm was launched last year by Doug Faron. This portfolio sale marks the West Palm Beach, Florida-based company’s first acquisition.

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FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Brokers $12 Million Sale of Miami-Dade Property

by Lynn Peisner

HIALEAH, FLA. — Marcus & Millichap has arranged the $12 million sale of Montego Bay Apartments, a 45-unit property in Hialeah. The property was developed in 1972 as apartments and was converted to condos in the early 2000s. The property returned once again to a rental model approximately two years ago. Montego Bay features one-, two- and three-bedroom units with covered parking. Evan Kristol and Felipe Echarte, investment specialists in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a private partnership, and procured the buyer, an investment group. 

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Affordable HousingDevelopmentFloridaNewsSoutheast

Coral Rock Development to Build $85 Million Workforce Project in Miami-Dade

by Lynn Peisner

MIAMI — Locally based Coral Rock Development Group has secured a $54 million construction loan from Citibank for Dulce Vida, a 227-unit mixed-income, mixed-use community in Miami’s Allapattah neighborhood. Construction will begin in the first quarter of 2026. A completion date was not disclosed. The total project cost is approximately $85 million. Dulce Vida is a Live Local Act multifamily development. The statewide legislation, adopted in 2023 and updated in 2024, was created to accelerate the building of affordable housing housing near jobs and transit by pairing land-use incentives with …

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DevelopmentFinanceFloridaNewsSoutheast

JV Receives $250 Million Construction Loan to Build Miami Tower

by Lynn Peisner

MIAMI — Focus, a Chicago-based developer, and Group Fox, an investment and property management company also out of Chicago, have received a $250 million construction loan to build Brickell Starlite in Miami. Affinius Capital was the lender. Cushman & Wakefield arranged the financing. Brickell Starlite is a to-be-built, 39-story, 517-unit luxury property in Miami’s Brickell submarket on the site of the former Starlite Motel. Units will be offered as studio, one-, two- and three-bedroom layouts with 5 percent of the units designated for workforce housing. The development will feature amenities …

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