Florida

Azul Luxury Residences in Stuart, Florida
FinanceFloridaNewsSoutheast

JLL Brokers $10.6 Million to Refinance Azul Luxury Residences in Stuart, Florida

by Channing Hamilton

STUART, FLA. — JLL Capital Markets has negotiated the $10.6 million refinancing of Azul Luxury Residences, a 49-unit community in Stuart, on Florida’s Atlantic Coast. JLL worked on behalf of the borrower, Diversyfund, to secure a $9 million senior mortgage loan and a $1.6 million mezzanine loan through SteepRock Capital. Bryan Clark, Kenny Cutler, Brad Vansant and Emily Pohlman led the JLL Capital Markets Debt Advisory team. Built in 2019, Azul Luxury Residences features one-, two- and three- bedroom units across three stories. Amenities include a pool, spa, clubhouse and fitness center.

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Marisol in Port Charlotte, Florida
DevelopmentFinanceFloridaNewsSoutheast

JLL Capital Markets Arranges $65 Million to Construct 292-Unit Marisol in Port Charlotte, Florida

by Channing Hamilton

PORT CHARLOTTE, FLA. — JLL Capital Markets has arranged $65 million in construction financing and preferred equity for Marisol, a garden-style development in Port Charlotte. The property is located at 1200 Loveland Blvd. and offers 292 units. JLL represented the borrower, Roers Cos., to secure the non-recourse construction loan through Knighthead Funding and the preferred equity through Amzak Capital Management. Christopher Drew, Lee Weaver, Scott Loving, Brian Gaswirth and Shane Ciacci led the JLL Capital Markets Debt Advisory team.

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Affordable HousingDevelopmentFinanceFloridaNewsSoutheast

Pinnacle, Birdsong Secure $33.9 Million to Build Affordable Housing Community in Kissimmee, Florida

by Channing Hamilton

KISSIMMEE, FLA. — Pinnacle and Birdsong Housing Partners have jointly secured $33.9 million in financing to begin constructing Pinnacle at the Wesleyan, a 96-unit affordable housing community in Kissimmee. Pinnacle at the Wesleyan will be available to households earning up to 60 percent of the area median income (AMI). Ten percent of units will be reserved for extremely low-income residents at 33 percent AMI. The complex will offer 12 one-bedroom units, 60 two-bedroom units and 24 three-bedroom units. The developers broke ground on the project at the beginning of December. …

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Metro Edgewater in Miami
FinanceFloridaNewsSoutheast

JLL Capital Markets Negotiates $115 Million in Financing for Metro Edgewater in Miami

by Channing Hamilton

MIAMI — JLL Capital Markets has arranged $115 million in financing for Metro Edgewater, a 279-unit high-rise development in the Edgewater neighborhood of Miami. The building rises 32 stories and offers one-, two- and three-bedroom units averaging 955 square feet in size. Units feature walk-in closets, stainless steel appliances, hardwood and plank vinyl flooring, quartz countertops, and balconies. Amenities include a pool with cabanas and dry beds, fitness center, clubroom, a sky lounge, dining room and coffee bar. The borrower was a consortium consisting of Lujeni Corp., Camino Capital Management …

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FinanceFloridaNewsSoutheast

Greystone Provides $22 Million to Refinance Three Communities in Tampa, Florida

by Channing Hamilton

TAMPA, FLA. — Greystone has provided a total of $22 million to refinance three communities in Tampa. The loans feature a private-label offering and carry five-year terms with fixed rates and 30-year amortizations, including interest-only payments for periods ranging one to five years. Anthony Cristi, managing director at Greystone, originated the financing. The properties include: the 33-unit Palms at Humphrey; the 36-unit Oaks at University; and the 95-unit Uptown Gardens.

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1910 NW 29th Street in Miami
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Negotiates $2.8 Million Sale of Two Properties in Miami

by Channing Hamilton

MIAMI — Marcus & Millichap has brokered the sale of two properties located at 1910 and 1920 NW 29th Street in Miami’s Allapattah neighborhood. The buildings comprise 8,840 square feet and 16 units altogether. Units come in studio, one- and two-bedroom floor plans. 7 Crowns LLC purchased the properties from a local LLC for $2.8 million. Nicholas McAndrew, Felipe Echarte and Evan Kristol of Marcus & Millichap’s Fort Lauderdale office marketed the property on behalf of the seller and procured the buyer.

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A build-to-rent development site by LyvWell Communities in Tampa, Florida
DevelopmentFloridaNewsSoutheast

LyvWell Communities Develops Wellness-Centered Townhomes in Tampa’s Deer Valley

by Channing Hamilton

TAMPA, FLA. — LyvWell Communities announces its latest build-to-rent development in Tampa: 115 new townhomes in the Westchase district. Land development is currently underway, with move-in dates available as early as summer 2024. LyvWell Communities caters to the health-conscious preferences of residents, developing properties with amenities such as pools, dog parks, outdoor fitness areas, zen zones, community pavilions, and community gardens. From fenced yards and garages to versatile living spaces equipped with air and water filtration systems, blackout shades for restful sleep, and circadian lighting, LyvWell Communities offers a comprehensive approach to …

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FloridaInvestment SalesNewsPeople NewsSoutheast

JLL Capital Markets Adds Nick Lavin to South Florida Multifamily Investment Sales Team in Miami

by Channing Hamilton

MIAMI — JLL Capital Markets has added Nick Lavin to its South Florida multifamily investment sales team as a Director in the Miami office. In his new role, Lavin will focus on growing the firm’s multi-housing investment sales platform throughout the South Florida region. He will work alongside the current South Florida multi-housing and land investment sales team, which includes Matthew Lawton, Maurice Habif and Simon Banke. Prior to his time in the Los Angeles office, Lavin also spent almost three years in Chicago with HFF. He earned his degree as a double major …

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Avasa Hammock Landing in West Melbourne, Florida
FloridaInvestment SalesNewsSoutheast

Venterra Realty Acquires Avasa Hammock Landing in West Melbourne, Florida

by Channing Hamilton

WEST MELBOURNE, FLA. — Venterra Realty has acquired Avasa Hammock Landing, a 300-unit community in West Melbourne. Avasa Hammock Landing was recently built in 2023. The garden-style community offers one-, two- and three-bedroom apartments. Units range from 769 to 1484 square feet in size. Amenities include a pool, pavilion with grills and TVs, hammock lawn, fitness center, yoga studio, remote workspaces, dog park and dog wash station. Venterra Realty plans to implement several resident-focused programs, including a 48-hour maintenance guarantee.

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FinanceFloridaNewsSoutheast

Lument Provides $22.6 Million Fannie Mae Loan to Refinance Pinebrook Apartments in Jacksonville, Florida

by Channing Hamilton

JACKSONVILLE, FLA. — Lument has provided a $22.6 million Fannie Mae loan to refinance Pinebrook Apartments, a 208-unit property in Jacksonville. Tim Stevens of CREFCO brokered the transaction. The loan features a 10-year year term with seven years of interest only payments and a 30-year amortization schedule. The financing originated in June 2021 as a Lument proprietary bridge loan through Lument’s Real Estate Investment Strategy group. Originally built in 1974, Pinebrook Apartments consists of 16 buildings on an 11.1-acre site. The garden-style community offers amenities such as a pool, fitness center, clubhouse, …

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