GAINESVILLE, FLA. — AREY Group and Jim Chapman Construction Group (JCCG), a general contractor specializing in build-to-rent (BTR) projects, has broken ground on Enclave at Marston in Gainesville. The BTR community will consist of 75 single-family attached homes, eight garage buildings, a maintenance building, clubhouse and a resort-style pool. Completion is slated for the third quarter of 2027.
ST. AUGUSTINE, FLA. — Tampa, Florida-based Third Lake Development is underway on construction of The Cottages at St. Augustine. CBI Construction is heading up building efforts at the 33-acre site at 300 Bushwood Circle in St. Augustine. Nequette Architecture designed the 250-unit build-to-rent community. Construction began in March, and completion of the $50.8 million project is slated for December 2027.
JACKSONVILLE, FLA. — Mesa Capital Partners has acquired Satori Town Center in Jacksonville. The seller and sales price were not disclosed. The 289-unit community was built in 2021 by Davis Development. The four‑story, elevator‑served building features a two‑story fitness center, private workspaces, a clubhouse, resort-style pool and deck with grilling stations, a dog park, outdoor game area with hammocks and fire pits, a movie theater, and multiple outdoor gathering spaces. Acquisition financing was arranged by Walker & Dunlop. Pegasus Residential will oversee property management.
HOMESTEAD, FLA. — Berkadia has arranged a $35 million construction loan for the third phase of development of Casa Princeton, a 162-unit, eight-story community in the South Miami-Dade County neighborhood of Princeton. The project marks the final phase of the Casa Princeton master-planned community, which encompasses 374 units. Completion of Phase III is slated for early 2028. Charles Foschini, Christopher Apone, Shannon Wilson and Lourdes Carranza-Alvarez of Berkadia Miami arranged the financing on behalf of the developer, Aconcagua Group. S3 Capital was the lender. Located at 12867 SW 248th St., …
JACKSONVILLE, FLA. — Greystar has acquired Avana Bartram Springs, formerly known as Reserve Bartram Springs, in Jacksonville. The garden-style property was built in 2006 is situated on approximately 24 acres. The 268 units are offered in one-, two- and three-bedroom floor plans complemented by a pool with grill areas, playground and a fitness center with spin and yoga rooms. Greystar is planning to renovate amenity spaces and units. According to the Jacksonville Business Journal, the seller was Fogelman Properties and the sales price was approximately $39.7 million.
LAND O’ LAKES, FLA. — NexMetro has opened Avilla Silver Palm, a 180-home build-to-rent community in Land O’ Lakes, about 20 miles north of Tampa, Florida. This is NexMetro’s third Avilla Homes neighborhood in the greater Tampa market (the other two are Avilla Suncoast in Odessa and Avilla Cypress Creek in Sun City Center). Located at 11334 Zion Narrows Trail, Avilla Silver Palm sits on 26 acres and features mostly detached, single-level homes with private fenced backyards, front porches, optional garages and amenities such as a resort-style pool, outdoor lounge …
ST. CLOUD, FLA. — Berkadia has arranged a $19.1 million loan for Miami-based Bayshore Investment Partners’ (BIP) acquisition of Ibis Park at Harmony West in St. Cloud, about 30 miles south of Orlando. Ibis Park at Harmony West is a 101-home build-to-rent community. Coral Gables, Florida-based BIP bought the property from D.R. Horton for $29.4 million. Brad Williamson, Kyle Ryan, Mitch Sinberg, Scott Wadler and Matt Robbins of Berkadia Miami arranged the five-year, fixed-rate loan. This is the fourth Florida BTR community BIP has acquired from D.R. Horton. The other …
NAPLES, FLA. — The Inland Real Estate Group of Cos. has sold Orchid Run, a 282-unit property in Naples, to Cardone Capital, a Miami-based firm founded by real estate investor and sales entrepreneur Grant Cardone. Matt Mitchell and Chris Burtner of Berkadia Florida arranged the sale on behalf of Inland. According Cardone’s investment memoranda on the deal, the asset traded for $89.8 million. The investment vehicle acquiring Orchid Run also plans to hold 282 Bitcoin, part of Cardone Capital’s strategy of pairing multifamily real estate with cryptocurrency exposure. Cardone Capital …
WEST PALM BEACH, FLA. — Kamson Corp. has acquired the 400-unit Ponte Verde at Palm Beach Lakes in West Palm Beach for $90.5 million. The New Jersey-based buyer plans to convert the property from condos to multifamily. IPA’s Luke Wickham, Shelton Granade and Justin Basquill and Marcus & Millichap’s Evan Kristol brokered the sale. According to the brokerage team, condo conversions are increasing in Florida as older properties face rising maintenance costs, mandatory structural reserve funding and evolving regulatory requirements. Ponte Verde at Palm Beach Lakes is a gated, two- …
ST. CLOUD, FLA. — Adam America Real Estate and Stellar Communities have obtained a $35.1 million construction takeout loan for Havens at Hickory Reserve, a newly completed 134-unit townhome build-to-rent community in St. Cloud, about 30 miles south of Orlando. The joint venture secured the financing through lender CoreVest Finance. Walker & Dunlop arranged the loan. Stellar is an Aventura, Florida-based developer, while Adam America Real Estate also is a development firm and is headquartered in New York City. Located at 4896 Stellar Drive, Havens at Hickory Tree Reserve offers …
