Florida

AVARA-Miami
DevelopmentFloridaNewsOperationsSoutheast

Mast Capital, Rockpoint Complete AVARA Miami Beach

by Lynn Peisner

MIAMI BEACH — Mast Capital and Rockpoint have opened AVARA, a 178-unit community at 3900 Alton Road in Miami Beach. Monthly asking rents at the eight-story development begin at $3,200 for a junior one-bedroom unit. Floor plans also are offered as two- and three-bedroom configurations as well as penthouses. Arquitectonica was the architect, interior design was provided by CID Design Group, and Within Hults + Partners was the landscape architect. Amenities include a second-floor pool deck overlooking Biscayne Bay that also features an outdoor kitchen with grilling stations. Inside, residents …

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Exchange-at-Indian-Trail-NC
FinanceFloridaLouisianaNewsNorth CarolinaSoutheast

Hathaway Secures $153.3 Million ReFi for Three Sun Belt Properties

by Lynn Peisner

ATLANTA — Walker & Dunlop has arranged $153.3 million in loans for Hathaway Development. The Atlanta-based owner/developer will use the proceeds to refinance three garden-style properties: Exchange at Juban in Denham Springs, Louisiana, Exchange at Blair Stone in Tallahassee, Florida, and Exchange at Indian Trail, in Indian Trail, North Carolina. Walker & Dunlop’s Stephen Farnsworth, Hanes Dunn and Robert Henry arranged the floating-rate loans through lender ACRES Capital. The three communities were developed by Hathaway and combined include 876 units. Exchange at Juban, a 264-unit property in Denham Springs was …

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Advenir-at-Lighthouse-Point-Pompano-Beach
FinanceFloridaInvestment SalesNewsSoutheast

JLL Arranges $53.3 million in Acquisition Financing for Pompano Beach Property

by Lynn Peisner

POMPANO BEACH, FLA. — JLL has arranged a $53.3 million Freddie Mac acquisition loan on behalf of Miami-based Advenir Azora, which has acquired Avenir at Lighthouse Point. The property was built in 2015 and consists of a six-story building with one-, two- and three-bedroom units averaging 887 square feet. Amenities include a rooftop lounge with ocean views, a resort-style pool, a 24-hour fitness center and a parking garage. Advenir at Lighthouse Point was 95 percent occupied at the time of sale. The seller was not disclosed. JLL’s Jesse Wright, JJ …

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Parks-at-Delray-Skye
DevelopmentFinanceFloridaNewsSoutheast

13th Floor, Key International Break Ground on $79.2 Million Project in Delray Beach, Florida

by Lynn Peisner

DELRAY BEACH, FLA. — South Florida-based developers 13th Floor Investments and Key International, in partnership with CDS International Holdings and Wexford Capital, have broken ground on Skye, a 327-unit community in Delray Beach. The project is being financed with a $79.2 million construction loan from CIBC Bank USA. Skye represents the second residential phase of the joint venture’s 50-acre Parks at Delray mixed-use development and follows the completion and lease-up of Savio, which delivered 420 apartments earlier this year. With construction now underway, Skye is slated for completion in 2027. …

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CEI-Hillcrest-Antioch
Affordable HousingCaliforniaCompany NewsDevelopmentFinanceFloridaInvestment SalesNewsNorth CarolinaNortheastSouth CarolinaSoutheastWestern

CEI Launches Affordable Housing Investment Partnership

by Lynn Peisner

LOS ANGELES — Los Angeles-based developer Cypress Equity Investments (CEI) and an unnamed Florida-based investment firm have partnered to build or acquire approximately $1.2 billion worth of affordable housing communities. The venture is being launched with 11 ground-up projects that are already in place in California and Florida. Target markets for future opportunities include the Carolinas, Tennessee, Texas and some markets in the Northeast. Some of the deal characteristics CEI is seeking will include communities with on-site resident services, developments that partner with nonprofits and acquisitions of other existing institutional …

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Adria-Venice
DevelopmentFloridaNewsSoutheast

The NRP Groups Opens Dual Gulf Coast Properties

by Lynn Peisner

VENICE, FLA. — The NRP Group has completed development of Adria and Maren, two properties within 2 miles of each other in Venice, about 21 miles south of Sarasota. PointeOne Holdings was the equity partner in the development, marking the investment firm’s sixth project with NRP. Adria and Maren were designed by Slocum Platts Architects. Together, they include 665 units. The 335-unit Adria offers one-, two- and three-bedroom floor plans while Maren comprises 330 units offered as studios, one-, two- and three-bedroom layouts. Both communities include three-bedroom townhome options with …

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ColoradoFinanceFloridaNewsSoutheastTexasWestern

Walker & Dunlop Arrange $192 Million ReFi for Cortland

by Lynn Peisner

BETHESDA, MD. — Walker & Dunlop has arranged a $192 million Freddie Mac loan on behalf of Cortland, an Atlanta-based investment, development and property management firm. Cortland will use the funds to refinance mortgages of three properties: Cortland at the Hammocks I and II in Miami, Huntington Glen in Dallas and Cortland Congress Park in Denver. Together, the properties comprise 1,137 units. Across all three assets, Cortland has executed a capital improvement program, investing in interior and exterior upgrades to reposition the communities. The Walker & Dunlop capital markets team was …

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Canopy-at-Babcock-Ranch
Company NewsFloridaIndianaMidwestNewsOperationsSoutheast

Milhaus Acquires Property Management Division of ContraVest

by Lynn Peisner

ALTAMONTE SPRINGS, FLA. — Milhaus, an Indianapolis-based developer, owner and property manager, has acquired the property management division of Altamonte Springs-based developer ContraVest, marking Milhaus’ entry into the third-party property management business and expanding its presence in Florida. Under the agreement, Milhaus will assume residential management at eight multifamily properties. Skyhawk Capital Advisors acted as financial advisor to ContraVest in the transaction. In Florida, Milhaus has developed and manages Canopy at Babcock Ranch, as well as projects in Tampa, such as The Hite and Notch Apartments, Lector 85 and Artistry …

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TheStadler-Bradenton
DevelopmentFloridaNewsSoutheast

Thompson Thrift Opens Florida Community Named in Honor of Late COO

by Lynn Peisner

BRADENTON, FLA. — Thompson Thrift has opened The Stadler, a 279-unit property in the Tampa suburb of Bradenton. The community is named in honor of Henry Stadler, who was the senior vice president and chief operating officer of Indiana-based Thompson Thrift Construction. Stadler passed away in 2022 at the age of 56. “The quality of construction and design of The Stadler reflects the high standards Henry championed throughout his 27 years with Thompson Thrift,” said CEO John Thompson. The property, located at 7120 Henry Drive, is the company’s first asset …

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casa-familia-Miami
Affordable HousingDevelopmentFloridaNewsSoutheast

Casa Familia, Pinnacle Break Ground on $27 Million Inclusive Community in Miami

by Lynn Peisner

MIAMI — Casa Familia and Pinnacle have broken ground on Gardens at Casa Familia, a 50-unit affordable housing property designed to serve individuals with intellectual and developmental disabilities. The $27 million project is being funded through multiple sources including Low-Income Housing Tax Credit equity. Nonprofit Casa Familia, which specializes in affordable housing for people with disabilities, partnered with Miami-based developer Pinnacle to build the community. Construction began in September, and completion is slated for the first quarter of 2027. The four-story building will feature 50 one-bedroom apartments, each equipped with …

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