FORT LAUDERDALE, FLA. — Marcus & Millichap has arranged the sale of The Gardens, a 24-unit property in Fort Lauderdale. Built in 1966, The Gardens is a 28,587-square-foot asset located at 2190 NE 51st Court. Units come in one- and two-bedroom layouts. The property traded hands for $6.1 million. Austin Michels, Brandon Rex and Evan Kristol of Marcus & Millichap’s Fort Lauderdale office procured the undisclosed local buyer. The identity of the seller was also not disclosed.
KISSIMMEE, FLA. — ZMR Capital, an investment firm based in Tampa, Florida, has secured a $42.5 million bridge loan for Skye at Hunter’s Creek, a 216-unit community located at 1300 Santa Rosa Drive in Kissimmee. Brad Williamson, Wesley Moczul, Mitch Sinberg, Matt Robbins and Scott Wadler of Berkadia arranged the loan on behalf of the borrower. Nuveen Real Estate provided the three-year, floating-rate loan, which was underwritten with two one-year extension options, full-term interest only payments, a 68 percent loan-to-value ratio, an interest rate cap and flexible prepayment terms. Built …
OXFORD, FLA. — JLL Capital Markets has brokered the sale of The Mark at Wildwood, a 294-unit community located at 3795 Bismark Court in Oxford, approximately 60 miles northwest of Orlando, Florida. Cliff Taylor, Joe Ayers, Ryan Hixon, Tucker Brooks and Mike Scott of JLL represented the sellers, Varden Capital Properties and Tellus Partners, in the deal. TriBridge Residential purchased the asset for an undisclosed price. The Mark at Wildwood was completed in 2023. The community offers a mix of one-, two- and three-bedroom floor plans, including flat and carriage …
MIAMI, FLA. — RKW Residential has added three new properties totaling 1,100 apartments to the company’s management portfolio in Florida. The firm will oversee the management and leasing of Metro Parc, The Atlantic by Soleste and Vive. Metro Parc is a 559-unit development in Hialeah, approximately 11 miles north of Miami. MG Developer and Baron Property Group are developing the project. Metro Parc is located within Metro Center, a mixed-use development that will feature roughly 2.3 million square feet of residential and retail real estate. The Atlantic by Soleste is a 253-unit project in …
JACKSONVILLE, FLA. — Berkadia has brokered the sale of Cielo at Normandy, a 123-unit community located at 1570 Lane Ave. S in Jacksonville. Cielo at Normandy was built in 1974. The community offers a mix of one-, two- and three-bedroom apartments. The average unit size is 933 square feet. Amenities include a pool, clubhouse, laundry facility and playground. Black Ridge purchased the property from Zavala Capital Group for an undisclosed price. Greg Rainey led the Berkadia team in representing the seller in the transaction.
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 …
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 …
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.
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 …
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, …
