Florida

The Vine on NE 35th Street in Miami
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Arranges $15.1 Million Sale of Development Site in Miami

by Channing Hamilton

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 …

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Arbor Trace Apartment Homes in Lynn Haven, Florida
FinanceFloridaNewsSoutheast

CBRE Arranges $99.7 Million Refinancing for Three Properties in Florida

by Channing Hamilton

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 …

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FloridaInvestment SalesNewsSoutheast

Integra Investments Acquires 317-Unit Monaco Isles in West Palm Beach, Florida

by Channing Hamilton

WEST PALM BEACH, FLA. — Miami-based investor and developer Integra Investments has acquired Monaco Isles, a 317-unit community located at 800 The Pointe Drive in West Palm Beach. Axonic Properties sold the asset for an undisclosed price. The garden-style property rises two stories. Amenities include a pool and jacuzzi, fitness center, clubhouse, business center, children’s playground, picnic area and dog park.

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Sovereign Apartments in Fort Worth, Texas
FloridaGeorgiaInvestment SalesKentuckyNew YorkNewsNortheastSouth CarolinaSoutheastTennesseeTexas

West Shore Secures $533 Million Refinancing for 2,806-Unit Sun Belt Portfolio

by Channing Hamilton

NEW YORK CITY — Newmark has arranged a $533 million loan for the refinancing of a portfolio spread across six states in the Sun Belt. Boston-based investment firm West Shore was the borrower. Citigroup provided the fixed-rate CMBS financing, which features a single-asset, single-borrower loan structure. Purvesh Gosalia, vice chairman of Newmark, secured the financing on behalf of West Shore.  The portfolio totals 2,806 units across nine garden-style properties. The assets include: Newmark is headquartered in New York City. The company also recently announced an assignment to market 10 multifamily …

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Avisa Lakes in Orlando, Florida
FinanceFloridaInvestment SalesNewsSoutheast

JLL Capital Markets Arranges $50 Million Sale, $35 Million Financing for Avisa Lakes in Orlando, Florida

by Channing Hamilton

ORLANDO, FLA. — JLL Capital Markets has arranged the $50 million sale of Avisa Lakes, a garden-style community located at 7960 Pine Crossing Circle in Orlando. JLL represented the seller, Lloyd Jones LLC and ST Real Estate Holding Inc., and procured the buyer, Beachwold Residential LLC. Situated on a 22.4-acre site, Avisa Lakes consists of 292 units across 16 buildings. Apartments come in one- and two-bedroom floor plans and average 850 square feet each. Community amenities include a playground, pool, clubhouse and game room, two dog parks, a soccer court, …

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Madison Bradenton in Bradenton, Florida
FloridaNewsSoutheast

Berkadia Originates $110.7 Million in Financing for Two Developments in Florida

by Channing Hamilton

BRADENTON AND MELBOURNE, FLA. — Berkadia has originated two loans totaling $110.7 million for two projects in Bradenton and Melbourne. Bradenton is located roughly 45 miles south of Tampa, Florida, while Melbourne is approximately 72 miles southeast of Orlando. Both properties will comprise 240 units and are slated for completion in 2026. Alec Fox of Berkadia’s Tampa office secured the financing on behalf of the sponsor, Charlotte-based Madison Capital Group. Berkadia secured $60 million in construction financing for Madison Bradenton, consisting of a $47 million senior loan provided by Peachtree Group …

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Resia Old Cutler in Goulds, Florida
FloridaInvestment SalesNewsSoutheast

Resia Sells 390-Unit Resia Old Cutler in Suburban Miami

by Channing Hamilton

GOULDS, FLA. — Resia has sold Resia Old Cutler, a 390-unit community located at 22555 S.W. 107th Ave. in Goulds, about 30 miles southwest of Miami. Kayne Anderson purchased the asset for an undisclosed price. Resia Old Cutler was built in 2023 and offers one-, two- and three-bedroom units. Amenities include a multipurpose room, fitness center, children’s play area and a pool. Resia will continue to serve as property manager for the community.

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LEO at Flint Crossing in Huntsville, Alabama
Company NewsDevelopmentFloridaNewsSoutheast

Advenir, Azora Create $3 Billion Partnership to Address National Housing Shortage

by Channing Hamilton

MIAMI AND AVENTURA, FLA. — Florida-based Advenir, which acquires, develops and manages multifamily and single-family rental communities, has entered into a partnership with Spanish global investment firm Azora to create “attainable” rental housing in various markets across the U.S. The deal creates a new, combined corporation called Advenir Azora, which will focus on acquisition, development, asset management, property management and fund services capabilities. Advenir Azora is expected to deploy more than $3 billion over the next five years in hopes of developing at least 10,000 new single-family rental homes and acquiring …

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Riverside Manors in Fort Lauderdale, Florida
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Brokers $2.1 Million Sale of 10-Unit Property in Fort Lauderdale, Florida

by Channing Hamilton

FORT LAUDERDALE, FLA. — Marcus & Millichap has brokered the sale of Riverside Manors, a 10-unit asset located at 713 SW 13th Ave. in Fort Lauderdale. The garden-style community offers a mix of one- and two-bedroom apartments. Amenities include a pool, fire pit and on-site parking. Tropical View Apartments sold the property to a local private investor for $2.1 million. Daniel Cunningham, Evan Richardson, Dillon Majeski and River Rhoads of Marcus & Millichap’s Fort Lauderdale office marketed the property on behalf of the seller and procured the buyer.

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Cedar Ridge at Forest Lake in Davenport, Florida
Build-to-RentFinanceFloridaInvestment SalesNewsSoutheast

Berkadia Arranges $13.2 Million Acquisition Loan for 70-Unit Build-to-Rent Community Near Orlando

by Channing Hamilton

DAVENPORT, FLA. — Berkadia has arranged $13.2 million in acquisition financing for Cedar Ridge at Forest Lake, a 70-unit build-to-rent community located at 2860 Cedar Ridge Court in Davenport, approximately 40 miles southwest of Orlando.  Cedar Ridge at Forest Lake was recently built in 2023. The community offers three-, four- and five-bedroom single family units with integrated smart home technology, attached two-car garages, fenced backyards, stainless steel appliances and washers and dryers. Community amenities include pet-friendly spaces, a playground and pool. Brad Williamson, Mitch Sinberg, Scott Wadler, Matthew Robbins and …

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