Florida

Terra Completes 460-Unit Natura Gardens Apartments in Miami

by Channing Hamilton July 31, 2023

MIAMI — South Florida-Based developer Terra has completed Natura Gardens, a garden-style community in Miami’s West Hialeah neighborhood. Leasing is now underway for the asset, with rents ranging from approximately $2,000 per month to $3,350 per month. Natura Gardens offers one-, two- and three-bedroom units. Amenities include a two-story clubhouse with a pool and spa, outdoor kitchen and grilling area, children’s playroom, lounge, fitness center, business center and a dog park. Natura Gardens was designed by Pascual, Perez, Kiliddjian Architecture. Interior design for the clubhouse and model units was conducted …

July 31, 2023

Florida Investment Sales News Southeast

Carter Funds Acquires Solis at Ballast Point in Tampa, Florida, for $57.5 Million

by Channing Hamilton July 31, 2023

TAMPA, FLA. — Carter Multifamily, a division of Carter Funds, has acquired Solis at Ballast Point for $57.5 million. Located at 6306 S. MacDill Avenue in Tampa, Solis at Ballast Point is a 276-unit garden-style property that was originally built in 1988. The asset offers 218,592 rentable square feet on a 21.5-acre site. Amenities include a pool, pet park and a private lake. Carter Multifamily plans to renovate the property with upgrades to community amenities and unit interiors, as well as exterior building improvements. The community will be rebranded to “Mode …

July 31, 2023

Finance Florida News Southeast

Northmarq Arranges $70 Million in Financing for Two Properties in Miami Lakes, Florida

by Channing Hamilton July 26, 2023

MIAMI LAKES, FLA. — Northmarq has arranged $70 million in financing for two properties in the Miami, Florida suburb of Miami Lakes. The borrower was The Graham Cos. Jeff Robertson of Northmarq’s Fort Lauderdale debt and equity office brokered the 10-year permanent loan through Empower Annuity Life Insurance Co. The properties were built in 1997 and 2000, respectively, and offer a combined total of 500 units. The names and addresses of the communities were not disclosed.

July 26, 2023

Finance Florida News Southeast

PSRS Arranges $15 Million to Refinance Harvard Apartments in Melbourne, Florida

by Channing Hamilton July 25, 2023

MELBOURNE, FLA. — PSRS has arranged the $15 million refinance of Harvard Apartments, a community in Melbourne. PSRS brokered a non-recourse loan featuring a 10-year term and 30-year amortization through a life insurance company on behalf of the undisclosed borrower. The property sits on more than 16 acres of land and comprises a total rentable square footage of 289,175. Harvard Apartments comprises 274 units across 32 buildings.

July 25, 2023

2950 Reedy Creek Blvd. in Kissimmee, Florida

Development Finance Florida News Southeast

PACE Loan Group Arranges $13.8 Million For Workforce Housing Conversion in Kissimmee, Florida

by Channing Hamilton July 25, 2023

KISSIMMEEE, FLA. — PACE Loan Group arranged $13.8 million in financing to convert a 151-room hotel in Kissimmee into a workforce housing community. The Florida Development Finance Corp. provided a loan through its C-PACE Program, which allows property owners to obtain financing using a special assessment on their property tax bill as the repayment mechanism. The financing package also includes a $9.1 million loan from a regional bank. The borrower, Infiniti Loft Investors, acquired the property following a previous gutting of the interior due to a hurricane. The asset was …

July 25, 2023

Development Florida Investment Sales News Southeast

Trilogy Real Estate Group Acquires Azalea Apartments in Tampa, Florida for $85.8 Million

by Channing Hamilton July 25, 2023

TAMPA, FLA. — Trilogy Real Estate Group has purchased Azalea Apartments, a 289-unit community currently under construction in the Tampa neighborhood of Brandon, for $85.8 million. ZOM Living sold the asset to Trilogy Real Estate Group and will continue to manage its construction through completion. The property is in a qualified opportunity zone and benefits from the provisions of the 2017 Tax Cuts and Jobs Act. Azalea Apartments will offer one-, two- and three-bedroom apartments, with the first move-ins expected to begin this quarter. Each unit includes energy-efficient, stainless steel …

July 25, 2023

Florida Investment Sales News Southeast

Marcus & Millichap Brokers $5.5 Million Sale of Bahia Beach in Fort Lauderdale, Florida

by Channing Hamilton July 21, 2023

FORT LAUDERDALE, FLA. — Marcus & Millichap arranged the sale of Bahia Beach, a 35-unit property located in Fort Lauderdale. Evan Kristol, Brandon Rex, Austin Michels and David Altman of Marcus & Millichap’s Fort Lauderdale office marketed the property on behalf of the seller, a private investment group. A local developer and operator purchased the community for $5.5 million. Bahia Beach was constructed in 1966 on a 17,167-square-foot site. The property includes 21 parking spaces, onsite laundry and a courtyard with a pool.

July 21, 2023

Venetian Apartments in Fort Myers, Florida

Berkadia Finance Florida News Southeast

Berkadia Arranges $217 Million Recapitalization for Three-Property Portfolio in Central Florida

by Channing Hamilton July 20, 2023

ORLANDO AND FORT MYERS, FLA. — Berkadia has arranged $217 million in debt and equity financing for the recapitalization of a portfolio in Orlando and Fort Myers. Mitch Sinberg, Brad Williamson, Scott Wadler and Matthew Robbins of Berkadia South Florida arranged the financing on behalf of the borrower, a joint venture between JSB Capital Group and BLD Group. Freddie Mac provided a $185.4 million, fixed-rate loan with a 10-year term at a 60 percent loan-to-value. Related Fund Management provided $31.8 million in preferred equity. The portfolio comprises 1,139 units across …

July 20, 2023

Florida Investment Sales News Southeast

Trilogy Real Estate Group Acquires Azalea Apartments Near Tampa, Florida for $85.8 Million

by Channing Hamilton July 17, 2023

BRANDON, FLA. — Trilogy Real Estate Group has acquired Azalea Apartments, a 289-unit community in the eastern Tampa, Florida suburb of Brandon, from ZOM Living for $85.8 million. Azalea Apartments is currently under construction, with the first move-ins slated to begin this quarter. Units come in one-, two- and three-bedroom layouts. Amenities include a pool, fitness center with a spinning studio and yoga lawn, event lawn, gaming area, dog park and pet salon.

July 17, 2023

Development Finance Florida News Southeast

Fisher Brothers Breaks Ground on $117.5 Million Mixed-Use Development in Miami

by Channing Hamilton July 13, 2023

MIAMI — Fisher Brothers has broken ground on Wynhouse Miami, a 308-unit mixed-use development located in the Wynwood neighborhood of Miami. JP Morgan Chase and affiliates of Canyon Partners provided $117.5 million for the project. Suffolk Construction is building the community. Other members of the development team include Rockwell Group, Nichols Architects and ID & Design International. Wynhouse Miami will offer units in studio, one- and two-bedroom layouts. Amenities will include a fitness center, green space, co-working and entertainment lounges, an expo kitchen, a rooftop pool and outdoor entertainment space. The property …

July 13, 2023

Newer Posts

Older Posts