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One Twenty Brickell Residences
DevelopmentFinanceFloridaNewsSoutheast

PMG Secures $413 Million Construction Loan for High-Rise Development in Miami

by Channing Hamilton

MIAMI — PMG has received a $413 million construction loan for One Twenty Brickell Residences, a two-tower development in Miami’s Brickell Financial District. Located at 120 S.W. 8th St., the project will consist of an apartment tower and a condominium tower.  The multifamily high-rise will rise 41 stories and offer a mix of studio, one-, two- and three-bedroom apartments. The building will also feature a 48,000-square-foot amenity package, including a pool with a hot tub, fitness center, coworking hub, lounges and a lobby with concierge services. Sentral will operate the …

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Park at Valenza
FloridaInvestment SalesNewsSoutheast

BMC Investments Buys 776-Unit Community Near Tampa, Florida

by Channing Hamilton

TEMPLE TERRAE, FLA. — Denver-based BMC Investments has purchased Park at Valenza, a 776-unit complex located at 6900 Aruba Ave. in Temple Terrace, about 10 miles northeast of Tampa. The seller and sales price were not disclosed, as well as BMC’s joint venture partner. A Prime Finance-sponsored fund provided acquisition financing for the deal. Park at Valenza was built in three phases from 1987 to 1996, and features a mix of one-, two- and three-bedroom apartments. Residents have access to amenities such as a lounge, gym, pool, basketball court and …

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Silver Cove Apartments
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Negotiates $8.1 Million Sale of Miami Asset

by Channing Hamilton

MIAMI — Marcus & Millichap has arranged the $8.1 million sale of Silver Cove Apartments, an 18-unit community located at 2010 Southwest 25th Terrace in Miami. Built in 2021, the property consists of 33,424 square feet across four stories. Apartments come in two- and three-bedroom floor plans. Joseph Thomas, Alec Demetriou and Adam Marcuvitz of Marcus & Millichap’s Fort Lauderdale office represented the undisclosed seller in the transaction. The identity of the buyer was also not disclosed.

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The Residences at Enso
FinanceFloridaNewsSoutheast

Thorofare Capital Provides $74 Million Loan for Refinancing of Community in Jacksonville, Florida

by Channing Hamilton

JACKSONVILLE, FLA. — Thorofare Capital has provided a $74 million bridge loan for the refinancing of The Residences at Enso, a 304-unit asset located 20 miles east of downtown Jacksonville along the Saint Johns River. The borrower, Trevato Development Group, will use the 2.5-year floating-rate loan to repay the original construction loan on the property. Jeff Kinney and Phil Rachels of CBRE’s Jacksonville office arranged the loan. The Residences at Enso consists of nine, four-story buildings across 22 acres. Floor plans range from 669 square feet to 1,599 square feet. The …

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Haven Apartments
FloridaInvestment SalesNewsSoutheast

MAP Communities Buys 56-Unit Asset in Pompano Beach, Florida, for $10 million

by Channing Hamilton

POMPANO BEACH, FLA. — MAP Communities has purchased The Haven Apartments, a 56-unit community located at the corner of NE 16th Terrace and NE 33rd St. in Pompano Beach, roughly 10 miles north of Fort Lauderdale, Florida. The asset traded hands for $10 million. Haven Apartments consists of seven contiguous two-story buildings on a 1.8-acre site. The community was built between 1969 and 1970. The community offers a mix of one-, two- and three-bedroom units. Daniel Cunningham, Evan Richardson, River Rhoads, Dillon Majeski and Cory Sanchez of Marcus & Millichap’s …

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Justin Fossum
FinanceFloridaIndustry VoicesInvestment SalesNorth CarolinaSoutheastTennesseeTexas

Employment, Affordability and Growth Make These Sun Belt Markets Stand Out

by Channing Hamilton

By Justin Fossum, senior director of asset management, Hamilton Zanze In a period defined by shifting economic dynamics, demographic realignment and tightening capital markets, multifamily investors continue to seek clarity on where to find durable performance. While short-term volatility is likely to persist, certain metropolitan areas in the U.S. are demonstrating structural advantages that point to long-term outperformance. Austin, Texas; Charlotte, North Carolina; Nashville, Tennessee; and Tampa, Florida, stand out as four such markets. Each market benefits from a rare alignment of employment growth, business investment, in-migration and relative affordability, …

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DevelopmentFloridaNewsSoutheast

Thompson Thrift Nears Completion of 324-Unit Project in Pensacola, Florida

by Channing Hamilton

PENSACOLA, FLA. — Indianapolis-based developer Thompson Thrift is nearing completion of The Quinn, a 324-unit project located at 5800 W. Nine Mile Road in Pensacola, about 50 miles west of Destin, Florida. The first move-ins began last fall, and Thompson Thrift expects to complete construction by the end of the summer. Situated on 18 acres, The Quinn features a mix of one-, two- and three-bedroom apartments. The average unit size is 1,000 square feet. Shared amenities include a clubhouse, fitness center, pool, community grilling areas, fire pits, cabanas, turf area …

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DevelopmentFloridaNewsSoutheast

Thompson Thrift Opens 300-Unit Asset Near Orlando, Florida

by Channing Hamilton

LADY LAKE, FLA. — Thompson Thrift has opened Standard441, a 300-unit community in Lady Lake, 53 miles northwest of Orlando, Florida. The three-story property offers one-, two- and three-bedroom units that range from 689 square feet to 1,369 square feet, according to Apartments.com. Monthly rates for the property start at $1,360. Shared amenities at the community include a fitness center, outdoor spa, dog park, pet spa and heated pool with a pavilion featuring a fireplace and grills, pickleball court, putting green and cornhole area. The community also offers a 24-hour …

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Executive Rental Apartments
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Brokers $8.1 Million Sale of Property in Hollywood, Florida 

by Channing Hamilton

HOLLYWOOD, FLA. — Marcus & Millichap has arranged the sale of Executive Rental Apartments, a 44-unit property in Hollywood, 20 miles north of Miami. The three-story building was built at 1715 North 16th Ave. in 1969. The community features an elevator, three laundry rooms and a pool. The unit mix includes one- and two-bedroom floor plans. Joseph Thomas, Alec Demetriou and Adam Marcuvitz of Marcus & Millichap’s Fort Lauderdale office marketed the property on behalf of the seller and procured the buyer. 

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The Villas at Tuttle
FinanceFloridaNewsSoutheast

Lynd Group Secures $132.5 Million Refinancing for South Florida Property

by Channing Hamilton

ROYAL PALM BEACH, FLA. — The Lynd Group has secured a $132.5 million bridge loan from MF1 Capital to refinance the construction loan for The Villas at Tuttle Royale, a 401-unit asset in Royal Palm Beach, roughly 12 miles west of West Palm Beach. New York-based S3 Capital provided the original $126 million construction loan to Lynd Group in March 2023. The Villas at Tuttle is located within Tuttle Royale, a 200-acre mixed-use project. Situated at 11200 Nicole Drive, The Villas at Tuttle comprises 26 buildings. The garden-style community offers one-, …

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