WINTER PARK, FLA. — Winter Park-based development and investment management firm Hillpointe has appointed Jamie Telchin to the position of vice president of development. In this role, Telchin will lead the development team for Hillpointe’s Pointe Grande for-rent and for-sale communities. Prior to joining Hillpointe, Telchin was senior managing director at Waypoint Residential, a developer and investment manager headquartered in Boca Raton, Florida. Additionally, he served as an executive vice president of development at LXR, an affiliate of The Blackstone Group. He received an MBA from the University of Colorado at …
MIAMI — Marcus & Millichap has brokered the sale of SK Apartments in North Miami. The asset, located at 14555 NE 145th St., was sold by an unnamed private investor for $16.5 million. Felipe Echarte, Evan Kristol and Nicholas McAndrew based out of Marcus & Millichap’s Fort Lauderdale office represented the seller. The property includes a mix of one- and two-bedroom units, averaging 645 square feet. According to Apartments.com, the building was constructed in 1963.
The city of Hollywood, Florida, is transforming. Once best known for its pristine beaches and as the winter home to many French Canadians, the area is becoming a magnet for new arrivals from the Northeast, Texas and California seeking a better place to live and do business. Hollywood’s mayor and city commissioners are showing their support for multifamily development, which will result in half a dozen projects being completed in 2025. Why are people choosing Hollywood and not Fort Lauderdale or well-known Miami neighborhoods like Brickell and Wynwood? Because the …
Investors are attracted to the fundamentals underpinning North and Central Florida’s multifamily market for good reason. Even before the pandemic, Tampa and Orlando — the region’s two largest metros — were in growth mode, with large corporate relocations and expansions driving demand for housing. Florida’s population surge between 2020 and 2022 accelerated that process. The state had the highest net migration increase in the country, gaining about a quarter of a million new residents in 2022 alone. Orlando and Tampa ranked fourth and fifth, respectively, among the top 10 metros nationally …
MIAMI — Locally based developer Terra has received a total of $291 million in permanent financing for the recently completed first phase of Centro City, a 38-acre mixed-use project located just west of Miami’s Little Havana neighborhood. Phase I comprises 350,000 square feet of retail space, as well as three eight-story apartment buildings that house 470 market-rate units. JVP Management issued a $187 million loan for the development’s multifamily component, while Hudson Bay Capital issued a $104 million loan for the retail component. The funds will be used to pay …
MIAMI, FLA. — Starwood Property Trust has provided $63.5 million for the refinancing of Fourteen Main Street Residences, a two-tower mixed-use development located at 1470 NW 36th St. in Miami. Charles Foschini, Christopher Apone, Lourdes Carranza-Alvarez and Shannon Wilson of Berkadia negotiated the financing on behalf of the sponsors, Neology Development Group and American Opportunity Zone Advisors. Once completed in the first quarter of 2025, Fourteen Main Street Residences will consist of 14-story building that houses 180 apartments, and a five-story building with 57 units. The community will offer studio, …
APOLLO BEACH, FLA. — Scottsdale, Arizona-based Taylor Morrison has purchased a 25.7-acre development site located within the 2,734-acre Waterset master-planned community in Apollo Beach, roughly 18 miles south of Tampa, Florida. Matt Mitchell and Chris Burtner of Berkadia North and Central Florida arranged the deal on behalf of the seller, Brookfield Residential, which is based in Costa Mesa, California. Taylor Morrison plans to develop a build-to-rent (BTR) community on the site. The asset will feature a mix of one-, two- and three-bedroom single-family rental units, with each residence including a …
MIAMI — Kushner Cos. has acquired The Hamilton, a 276-unit community in the Edgewater neighborhood of Miami. Apartment Investment and Management Co. (Aimco) sold the asset for $190 million. Located at 555 N.E. 34th St., the property is situated less than three miles north of downtown Miami and five miles from the city’s Brickell financial district. Originally built in 1984, The Hamilton offers one-, two-, three-, four- and five-bedroom units. The average apartment size is 1,373 square feet. Each unit includes a terrace, which average 326 square feet, with some larger …
SWEETWATER, FLA. — Terra has obtained a $170 million construction loan for Upland Park, a $1 billion mixed-use development in Sweetwater, about 15 miles west of downtown Miami. SCALE Lending, the debt financing arm of Slate Property Group, was the lead lender on the construction loan. Terra is converting Miami-Dade County’s Dolphin Park-and-Ride/Transit Terminal Facility into a multimodal hub that will feature a transit station, residences, retail space and commercial uses on a 47-acre site near Dolphin Mall. The developer has formed a public-private partnership with Miami-Dade County for the …
TAMPA, FLA. — Baltimore-based Continental Realty Corp. (CRC) has acquired Henley Tampa Palms, a 315-unit community located at 15350 Amberly Drive in Tampa. 29th Street Capital sold the property to CRC for $82 million. Berkadia represented the seller in the deal. CRC purchased Henley Tampa Palms on behalf of one of its sponsored private equity funds called Value-Add Multifamily I LP. Built in 1997, Henley Tampa Palms offers a mix of one-, two- and three-bedroom apartments averaging 1,375 square feet in size. Amenities include a clubhouse, fitness center with indoor …
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