Florida Archives

The Preserve at Poinciana in Poinciana, Florida

Shoreham Capital Sells 175-Unit Build-to-Rent Community Near Orlando

by Channing Hamilton March 14, 2024

POINCIANA, FLA. — Shoreham Capital has sold The Preserve at Poinciana, a 175-unit build-to-rent community currently under construction in the Orlando suburb of Poinciana. An unnamed state pension fund purchased the asset through a separate account managed by Heitman. The sales price was not disclosed. Tyler Swidler, Brett Moss and Matt Mitchell of Berkadia represented Shoreham Capital in the deal. The Preserve at Poinciana will feature three- and four-bedroom homes ranging 2,000 to 2,300 square feet in size. Amenities will include attached garages, a pool, green space, children’s playground, dog …

March 14, 2024

Development Florida News Southeast

MG Developer Tops Off 559-Unit Metro Parc in Hialeah, Florida

by Channing Hamilton March 12, 2024

HIALEAH, FLA. — MG Developer has completed the vertical construction of Metro Parc, a transit-oriented community in the Miami suburb of Hialeah. Upon completion, the property will comprise 559 units across two towers. Units will come in two-bedroom floor plans and range in size from 500 to 800 square feet. The property will also feature ground-floor retail space, including a Latin-inspired food marketplace. Metro Parc is the first phase of Metro Center, a mixed-use development that will comprise roughly 2.3 million square feet of multifamily and retail space. Metro Center …

March 12, 2024

Florida Leasing & Marketing News Southeast

Asset Living Takes Over Management of Industry Tallahassee in Tallahassee, Florida

by Channing Hamilton March 6, 2024

TALLAHASSEE, FLA. — Asset Living has been awarded management of Industry Tallahassee, a community located at 440 N Monroe Street in Tallahassee. According to Apartments.com, the property comprises 248 apartments across six stories. Industry Tallahassee offers studio, one-, two- and three-bedroom floor plans. Units feature stainless-steel appliances and European-style cabinetry. Amenities include a pool, fitness area with a yoga room, grand lounge, co-working spaces and a dog park.

March 6, 2024

Development Florida Leasing & Marketing News Southeast

Mast Capital Begins Pre-Leasing for The Harlow in Tampa, Florida

by Channing Hamilton March 6, 2024

TAMPA, FLA. — Mast Capital has begun pre-leasing at The Harlow, a garden-style community in Tampa’s Wesley Chapel neighborhood. Located at 5101 Bruce B. Downs Blvd., The Harlow comprises 248 units on a 16-acre site. Mast Capital and Rockpoint collectively entered the Tampa market in November 2021 with the acquisition of the development site. Construction began in late 2022, and the property is slated to open in March. The Harlow offers one-, two- and three-bedroom units that range from 751 to 1,501 square feet in size. Amenities include a central …

March 6, 2024

Features Florida Operations Southeast

Q&A With Carl Whitaker of RealPage: Miami’s Rent Growth Moderates Amid Wave of New Supply, But Market Remains Pricey

by Channing Hamilton March 1, 2024

Developers have responded to Miami’s influx of well-heeled renters with a heavy Class A development pipeline and rents that rival some of the nation’s most expensive places to live. The city is also under the gun to create more housing for its low- and middle-income residents. Multifamily & Affordable Housing Business talked with real estate economist Carl Whitaker of RealPage’s data analytics division about rents, development and the Miami market’s unique ability to retain renters. MAHB: Could you share with us the most recent data on average effective rents, occupancies, deliveries and …

March 1, 2024

Roberto Pesant, senior managing director, investment sales, Berkadia Miami

Features Florida Investment Sales Southeast

Q&A With Roberto Pesant of Berkadia: Renter, Investor Demand for Luxury Apartments Expected to Remain Strong in Miami

by Channing Hamilton February 27, 2024

Multifamily & Affordable Housing Business sat down with Roberto Pesant, senior managing director of investment sales with Berkadia’s Miami office, to discuss the demand for luxury communities in Miami — from both renters and investors. MAHB: The latest Berkadia report forecasts that average effective rent will be $2,569 by the fourth quarter of this year. Is the market overbuilt toward Class A/luxury properties, and if so, who’s renting these pricey units? Roberto Pesant: Demand for the urban, luxury product is coming from a number of sources. Some part of it comes …

February 27, 2024

Finance Florida News Southeast

Greystone Provides $419.6 Million to Refinance 85-Story Panorama Tower in Miami

by Channing Hamilton February 26, 2024

MIAMI — Greystone Commercial Capital has provided $419.6 million to refinance Panorama Tower, an 85-story mixed-use complex in Miami. The financing package consists of $85 million in agency-compliant subordinate debt and a $334.6 million Freddie Mac Optigo senior loan funded by Greystone Servicing Co. LLC. The loan carries a five-year term and 35-year amortization. Panorama Tower offers 821 units. The property also includes 112,731 square feet of Class A office space, 25,219 square feet of retail space, a 2,000-space private parking garage and an attached 19-story, 208-room Hyatt Centric Hotel.

February 26, 2024

Affordable Housing Development Finance Florida News Southeast

Berkadia Secures $118.5 Million to Construct Affordable Housing Development in Orlando

by Channing Hamilton February 22, 2024

ORLANDO, FLA. — Berkadia has secured $118.5 million in financing for the construction of 52 at Park, an affordable housing development in Orlando. The financing includes a $73.5 million construction loan, as well as $45 million in Low-Income Housing Tax Credit equity. Chris McGraw and Tim Leonhard of Berkadia arranged the financing on behalf of the borrower, Lincoln Avenue Communities. 52 at Park will comprise 300 units across eight buildings. Units will come in one-, two-, three- and four-bedroom layouts. Planned amenities include a business center, clubhouse, fitness center, pool, laundry …

February 22, 2024

Florida Investment Sales News Southeast

JBM Brokers $66.5 Million Sale of Charlotte Commons Apartments in Port Charlotte, Florida

by Channing Hamilton February 15, 2024

PORT CHARLOTTE, FLA. — JBM Institutional Multifamily Advisors has negotiated the $66.5 million sale of Charlotte Commons in the southwest Florida city of Port Charlotte. Image Capital, along with an undisclosed New York-based company, purchased the asset for $66.5 million. The seller was SC Bodner Co., who developed Charlotte Commons in 2022. Charlotte Commons comprises 264 apartments across 11 three-story buildings. Units come in studio, one- and two-bedroom floor plans and average 846 square feet in size. Amenities include a pool with a sun deck, outdoor lounge area, fitness center, …

February 15, 2024

Development Finance Florida News Southeast

JLL Capital Markets Arranges $60.9 Million for Refinance of The Kavista in Miami

by Channing Hamilton February 14, 2024

MIAMI — JLL Capital Markets has arranged $60.9 million in construction takeout refinancing for The Kavista, a 282-unit development within the El Portal neighborhood of Miami. JLL worked on behalf of the borrower, Barrington Brothers, to secure the two-year, floating rate loan through Värde Partners. Melissa Rose, Michael DiCosimo and Maddy McMillen led the JLL Capital Markets Debt Advisory Team. Upon completion in February of 2024, TheKavista will offer one-, two- and three-bedroom units, as well as amenities such as a pool, lounge, theater, fitness center and EV chargers. The building …

February 14, 2024