DAVIE, FLA. — A joint venture between 13th Floor Investments and JSB Capital Group has obtained a $67.5 million construction loan for Parks at Davie, a 383-unit project in Davie, 25 miles north of Miami. Santander Bank provided the financing. Peter Mekras of Aztec Group advised the joint venture on the capitalization, which also included an undisclosed amount of preferred equity from Houston-based Marble Capital. Designed by Corwil Architects, Parks at Davie will offer studio, one-, two- and three-bedroom units ranging from 568 square feet to 1,415 square feet. Amenities …
WINTER GARDEN, FLA. — Ashcroft Capital has acquired Birchstone Waterleigh, a 300-unit asset located at 9405 Ascend Falls Drive in Winter Garden, roughly 15 miles west of Orlando, Florida. The acquisition was completed through a joint venture with Pearlmark and Temerity Strategic Partners. The sales price and seller were not disclosed. Formerly known as Ascend Waterleigh Club, the property was built in 2023. Units come in one-, two- and three-bedroom floor plans ranging from 782 to 1,563 square feet. Amenities include a pool, coworking lounge, fitness center, dog park, emergency …
MIAMI — PMG has received a $413 million construction loan for One Twenty Brickell Residences, a two-tower development in Miami’s Brickell Financial District. Located at 120 S.W. 8th St., the project will consist of an apartment tower and a condominium tower. The multifamily high-rise will rise 41 stories and offer a mix of studio, one-, two- and three-bedroom apartments. The building will also feature a 48,000-square-foot amenity package, including a pool with a hot tub, fitness center, coworking hub, lounges and a lobby with concierge services. Sentral will operate the …
TEMPLE TERRAE, FLA. — Denver-based BMC Investments has purchased Park at Valenza, a 776-unit complex located at 6900 Aruba Ave. in Temple Terrace, about 10 miles northeast of Tampa. The seller and sales price were not disclosed, as well as BMC’s joint venture partner. A Prime Finance-sponsored fund provided acquisition financing for the deal. Park at Valenza was built in three phases from 1987 to 1996, and features a mix of one-, two- and three-bedroom apartments. Residents have access to amenities such as a lounge, gym, pool, basketball court and …
MIAMI — Marcus & Millichap has arranged the $8.1 million sale of Silver Cove Apartments, an 18-unit community located at 2010 Southwest 25th Terrace in Miami. Built in 2021, the property consists of 33,424 square feet across four stories. Apartments come in two- and three-bedroom floor plans. Joseph Thomas, Alec Demetriou and Adam Marcuvitz of Marcus & Millichap’s Fort Lauderdale office represented the undisclosed seller in the transaction. The identity of the buyer was also not disclosed.
JACKSONVILLE, FLA. — Thorofare Capital has provided a $74 million bridge loan for the refinancing of The Residences at Enso, a 304-unit asset located 20 miles east of downtown Jacksonville along the Saint Johns River. The borrower, Trevato Development Group, will use the 2.5-year floating-rate loan to repay the original construction loan on the property. Jeff Kinney and Phil Rachels of CBRE’s Jacksonville office arranged the loan. The Residences at Enso consists of nine, four-story buildings across 22 acres. Floor plans range from 669 square feet to 1,599 square feet. The …
POMPANO BEACH, FLA. — MAP Communities has purchased The Haven Apartments, a 56-unit community located at the corner of NE 16th Terrace and NE 33rd St. in Pompano Beach, roughly 10 miles north of Fort Lauderdale, Florida. The asset traded hands for $10 million. Haven Apartments consists of seven contiguous two-story buildings on a 1.8-acre site. The community was built between 1969 and 1970. The community offers a mix of one-, two- and three-bedroom units. Daniel Cunningham, Evan Richardson, River Rhoads, Dillon Majeski and Cory Sanchez of Marcus & Millichap’s …
By Justin Fossum, senior director of asset management, Hamilton Zanze In a period defined by shifting economic dynamics, demographic realignment and tightening capital markets, multifamily investors continue to seek clarity on where to find durable performance. While short-term volatility is likely to persist, certain metropolitan areas in the U.S. are demonstrating structural advantages that point to long-term outperformance. Austin, Texas; Charlotte, North Carolina; Nashville, Tennessee; and Tampa, Florida, stand out as four such markets. Each market benefits from a rare alignment of employment growth, business investment, in-migration and relative affordability, …
PENSACOLA, FLA. — Indianapolis-based developer Thompson Thrift is nearing completion of The Quinn, a 324-unit project located at 5800 W. Nine Mile Road in Pensacola, about 50 miles west of Destin, Florida. The first move-ins began last fall, and Thompson Thrift expects to complete construction by the end of the summer. Situated on 18 acres, The Quinn features a mix of one-, two- and three-bedroom apartments. The average unit size is 1,000 square feet. Shared amenities include a clubhouse, fitness center, pool, community grilling areas, fire pits, cabanas, turf area …
LADY LAKE, FLA. — Thompson Thrift has opened Standard441, a 300-unit community in Lady Lake, 53 miles northwest of Orlando, Florida. The three-story property offers one-, two- and three-bedroom units that range from 689 square feet to 1,369 square feet, according to Apartments.com. Monthly rates for the property start at $1,360. Shared amenities at the community include a fitness center, outdoor spa, dog park, pet spa and heated pool with a pavilion featuring a fireplace and grills, pickleball court, putting green and cornhole area. The community also offers a 24-hour …