Southeast

The Strand
DevelopmentNewsNorth CarolinaSoutheast

Kane Realty Breaks Ground on 20-Story High-Rise in Raleigh, North Carolina

by Channing Hamilton

RALEIGH, N.C. — Kane Realty Corp. has broken ground on The Strand, a 20-story high-rise development in the North Hills district of Midtown Raleigh. The apartment tower will feature 362 apartments and 9,000 square feet of retail space. The Strand will consist of studio, one-, two- and three-bedroom apartments, as well as top-floor penthouses. The property will also feature an amenity deck on the sixth floor that will include a pool, grilling area, activity lawn, fitness center and clubroom, as well as a clubroom on the 18th floor and a …

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Dania Heights
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Brokers Sale of 21-Unit Asset in Dania Beach, Florida

by Channing Hamilton

DANIA BEACH, FLA. — Marcus & Millichap has arranged the sale of Dania Heights, a 21-unit community in Dania Beach, roughly 5.5 miles south of Fort Lauderdale, Florida. The property 37 SW 14th St. traded hands for $4.5 million. Built in 1970, Dania Heights is a two-story, garden-style community. Units come in one-, two- and three-bedroom floor plans. Each residence has been renovated with updated kitchens, bathrooms and modern finishes. The sale also included a contiguous single-family home at 25 SW 14th St. Austin Michels, Brandon Rex, Nicholas McAndrew, Evan Kristol …

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DevelopmentFinanceFloridaNewsSoutheast

Joint Venture Obtains $67.5 Million Construction Loan for Project in Davie, Florida

by Channing Hamilton

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 …

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Chosewood Park
Affordable HousingDevelopmentFrom the MagazinesGeorgiaMarket ReportsSoutheast

Atlanta Beltline Project Is Transforming Intown Neighborhoods

by Channing Hamilton

The need for affordable housing is palpable across the nation, and Atlanta is no exception to the rule. A 2023 report from the Georgia Department of Community Affairs found that there is an extremely inadequate supply of housing that is affordable and available for all income levels, but especially for the lowest income renter households. In 2021, Atlanta Mayor Andre Dickens established a goal to build or preserve 20,000 units of affordable housing across the city by the end of 2030. And a major contributor to these efforts is the …

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11330 Brigman Road
DevelopmentNewsNorth CarolinaSoutheast

NRP Group Breaks Ground on 377-Unit Project in Matthews, North Carolina

by Channing Hamilton

MATTHEWS, N.C. — The NRP Group has broken ground on a 377-unit development located at 11330 Brigman Road in Matthews, roughly 11 miles southeast of Charlotte. The 15-acre project will offer one-, two- and three-bedroom apartments. The property will also include a pool, dog park, fitness center, business center coworking space and a retail café. The unnamed property will also include 18,900 square feet of commercial space and about 28 apartments reserved for households earning 80 percent of the area median income (AMI). The NRP Group expects to deliver the …

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Birchstone Waterleigh
FloridaInvestment SalesNewsSoutheast

Joint Venture Acquires 300-Unit Asset Near Orlando, Florida

by Channing Hamilton

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 …

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One Twenty Brickell Residences
DevelopmentFinanceFloridaNewsSoutheast

PMG Secures $413 Million Construction Loan for High-Rise Development in Miami

by Channing Hamilton

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 …

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Park at Valenza
FloridaInvestment SalesNewsSoutheast

BMC Investments Buys 776-Unit Community Near Tampa, Florida

by Channing Hamilton

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 …

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Lake Taylor Pointe Apartments
DevelopmentNewsSoutheastVirginia

Breeden Completes $43 Million Project in Norfolk, Virginia

by Channing Hamilton

NORFOLK, VA. — The Breeden Co. has completed Lake Taylor Pointe Apartments, a 198-unit community located at 1060 Kempsville Road in Norfolk. The property offers carriage house and garden-style buildings. Units come in one-, two- and three-bedroom floor plans ranging from 723 square feet to 1,425, according to Apartments.com. Amenities include a pool, poolside fitness center, outdoor gathering areas, arcade room, electric vehicle charging stations and a bark park. Rental rates for the property begin at $1,750. Breedon Construction served as the general contractor for the $43 million development.

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Maeve
DevelopmentNewsNorth CarolinaSoutheast

Capital Square Opens 20-Story Apartment Tower in Raleigh, North Carolina

by Channing Hamilton

RALEIGH, N.C. — Capital Square has opened Maeve, a 20-story apartment tower located at 319 W. Lenoir St. in Raleigh’s Warehouse District. Maeve consists of 297 units in studio, one-, two- and three-bedroom floor plans. The high-rise community also features approximately 10,000 square feet of street-level retail space, a double-height lobby and 30,000 square feet of amenities, including a pool and rooftop lounge. Greystar is managing the community. York Properties is overseeing the tower’s retail leasing assignment. Project partners for Maeve included JDAVIS Architects, general contractor W.M. Jordan Co., landscape …

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