Florida

Sovereign Apartments in Fort Worth, Texas

West Shore Secures $533 Million Refinancing for 2,806-Unit Sun Belt Portfolio

by Channing Hamilton October 28, 2024

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 …

October 28, 2024

Finance Florida Investment Sales News Southeast

JLL Capital Markets Arranges $50 Million Sale, $35 Million Financing for Avisa Lakes in Orlando, Florida

by Channing Hamilton October 21, 2024

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, …

October 21, 2024

Florida News Southeast

Berkadia Originates $110.7 Million in Financing for Two Developments in Florida

by Channing Hamilton October 16, 2024

BRADENTON AND MELBOURNE, FLA. — Berkadia has originated two loans totaling $110.7 million for two projects in Bradenton and Melbourne. Bradenton is located roughly 45 miles south of Tampa, Florida, while Melbourne is approximately 72 miles southeast of Orlando. Both properties will comprise 240 units and are slated for completion in 2026. Alec Fox of Berkadia’s Tampa office secured the financing on behalf of the sponsor, Charlotte-based Madison Capital Group. Berkadia secured $60 million in construction financing for Madison Bradenton, consisting of a $47 million senior loan provided by Peachtree Group …

October 16, 2024

Florida Investment Sales News Southeast

Resia Sells 390-Unit Resia Old Cutler in Suburban Miami

by Channing Hamilton October 8, 2024

GOULDS, FLA. — Resia has sold Resia Old Cutler, a 390-unit community located at 22555 S.W. 107th Ave. in Goulds, about 30 miles southwest of Miami. Kayne Anderson purchased the asset for an undisclosed price. Resia Old Cutler was built in 2023 and offers one-, two- and three-bedroom units. Amenities include a multipurpose room, fitness center, children’s play area and a pool. Resia will continue to serve as property manager for the community.

October 8, 2024

LEO at Flint Crossing in Huntsville, Alabama

Company News Development Florida News Southeast

Advenir, Azora Create $3 Billion Partnership to Address National Housing Shortage

by Channing Hamilton October 8, 2024

MIAMI AND AVENTURA, FLA. — Florida-based Advenir, which acquires, develops and manages multifamily and single-family rental communities, has entered into a partnership with Spanish global investment firm Azora to create “attainable” rental housing in various markets across the U.S. The deal creates a new, combined corporation called Advenir Azora, which will focus on acquisition, development, asset management, property management and fund services capabilities. Advenir Azora is expected to deploy more than $3 billion over the next five years in hopes of developing at least 10,000 new single-family rental homes and acquiring …

October 8, 2024

Riverside Manors in Fort Lauderdale, Florida

Florida Investment Sales News Southeast

Marcus & Millichap Brokers $2.1 Million Sale of 10-Unit Property in Fort Lauderdale, Florida

by Channing Hamilton October 7, 2024

FORT LAUDERDALE, FLA. — Marcus & Millichap has brokered the sale of Riverside Manors, a 10-unit asset located at 713 SW 13th Ave. in Fort Lauderdale. The garden-style community offers a mix of one- and two-bedroom apartments. Amenities include a pool, fire pit and on-site parking. Tropical View Apartments sold the property to a local private investor for $2.1 million. Daniel Cunningham, Evan Richardson, Dillon Majeski and River Rhoads of Marcus & Millichap’s Fort Lauderdale office marketed the property on behalf of the seller and procured the buyer.

October 7, 2024

Cedar Ridge at Forest Lake in Davenport, Florida

Build-to-Rent Finance Florida Investment Sales News Southeast

Berkadia Arranges $13.2 Million Acquisition Loan for 70-Unit Build-to-Rent Community Near Orlando

by Channing Hamilton October 4, 2024

DAVENPORT, FLA. — Berkadia has arranged $13.2 million in acquisition financing for Cedar Ridge at Forest Lake, a 70-unit build-to-rent community located at 2860 Cedar Ridge Court in Davenport, approximately 40 miles southwest of Orlando. Cedar Ridge at Forest Lake was recently built in 2023. The community offers three-, four- and five-bedroom single family units with integrated smart home technology, attached two-car garages, fenced backyards, stainless steel appliances and washers and dryers. Community amenities include pet-friendly spaces, a playground and pool. Brad Williamson, Mitch Sinberg, Scott Wadler, Matthew Robbins and …

October 4, 2024

Magnolia at Spring Hill in Spring Hill, Florida

Build-to-Rent Development Finance Florida News Southeast

JLL Capital Markets Arranges Construction Financing for 162-Unit Build-to-Rent Development in Metro Tampa

by Channing Hamilton September 27, 2024

SPRING HILL, FLA. — JLL Capital Markets has arranged a $32 million construction loan for Magnolia at Spring Hill, a 162-unit built-to-rent community in Spring Hill, 40 miles north of Tampa, Florida. Agador Spartacus Development was the borrower. Magnolia at Spring Hill will offer two-bedroom flats and two- and three-bedroom townhome-style units with an average size of 1,144 square feet. Planned amenities include a pool, pickle and basketball courts, playgrounds, a fitness studio and outdoor kitchen. Development is expected to complete in late 2025. JLL arranged the non-recourse loan through a …

September 27, 2024

Build-to-Rent Development Finance Florida News Southeast

Stellar, AARE Secure $52.7 Million Construction Loan for Build-to-Rent Community in Palm Bay, Florida

by Channing Hamilton September 23, 2024

PALM BAY, FLA. — Stellar Communities and Adam America Real Estate have secured LP equity and a $52.7 million non-recourse construction loan for Havens at Palm Bay, a 266-unit build-to-rent project located in Palm Bay in Florida’s “Space Coast” region. Max La Cava, Pier Barinci and Shane Ciacci of JLL Capital Markets arranged the financing. Havens at Palm Bay will offer single-story units in one-, two- and three-bedroom floor plans. Planned amenities include a pool, clubhouse, children’s playground, dog park, self-storage and detached parking. The development is slated to complete in 2026. …

September 23, 2024

Florida Leasing & Marketing News People News Southeast

Hillpointe Hires Jessica Ray as Vice President of Marketing

by Channing Hamilton September 17, 2024

WINTER PARK, FLA. — Hillpointe LLC, a developer based in Winter Park, has hired Jessica Ray to the position of vice president of marketing. In her new role, Ray will lead the company’s marketing efforts to enhance brand awareness, drive customer engagement and drive measurable results. Before joining Hillpointe, Ray served as senior director of marketing and communications at Full Sail University. She received a bachelor of science in organizational communications and a master of science in integrated marketing communications from West Virginia University.

September 17, 2024

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