Southeast

Davis-Gardens-Pensacola
BerkadiaFloridaInvestment SalesNewsSoutheast

Berkadia Brokers Sale of Two Pensacola Properties

by Lynn Peisner

PENSACOLA, FLA. — Berkadia has arranged the sale of Atwood Oaks and Davis Gardens, two vintage communities totaling 211 units approximately 2 miles apart in Pensacola. Atlanta-based Tioga Capital acquired the 136-unit Atwood Oaks, while an undisclosed LLC out of Cantonment, Florida, purchased the 75-unit Davis Gardens. Berkadia’s David Etchison and Andrea Kendrick led the transaction. Built in 1972, Atwood Oaks at 1857 Atwood Drive comprises  one- and two-bedroom units and such amenities as a pool, a dog park, a courtyard and on-site maintenance. Completed in 1985, Davis Gardens at …

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Mill-at-White-House-Tennessee
FinanceNewsSoutheastTennessee

RFM Refinances The Mill at White House North of Nashville

by Lynn Peisner

WHITE HOUSE, TENN. — Walker & Dunlop has arranged a $42 million loan from an undisclosed institutional lender on behalf of RFM Development Co. The sponsor is refinancing The Mill at White House, a 216-unit property in White House, 27 miles north of Nashville that was recently completed and is finalizing lease-up. Walker & Dunlop’s capital markets team was led by Jeremy Pino, Livingston Hessam, Keith Melton, David Strange, Carl Passmore and Kyle Miller, the same team that previously arranged the asset’s construction financing in 2022.

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Springfield-Apartments-Durham
Investment SalesNewsNorth CarolinaSoutheast

RailField Buys Research Triangle Property

by Lynn Peisner

DURHAM, N.C. — RailField has acquired Springfield Apartments, a 288-unit garden-style property in Durham. The seller and sales price were not disclosed. Amenities include a resort-style pool with grilling stations, a fenced dog park, a renovated fitness center, a game room and a car care center. The property was purchased via RailField’s RG Value Add Fund, a joint venture with alternative-asset investment firm GCM Grosvenor.  

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Northbend-Atlanta
DevelopmentGeorgiaNewsSoutheast

Developers Secure Land for $605 Million Mixed-Use District in Atlanta

by Lynn Peisner

BROOKHAVEN, GA. — Third & Urban and HighBrook Investors have assembled 30 acres for the redevelopment of Corporate Square, a 1970s-era office park in the Atlanta metro city of Brookhaven. The site, located between Buford Highway and Interstate-85, has been dubbed Northbend in reference to the bend of Peachtree Creek along its northern edge. Atlanta-based developer Third & Urban and West Palm Beach, Florida-based HighBrook, a financial partner, are finalizing partnerships to begin construction for the initial phases of the new mixed-use district, valued at $605 million. The assemblage comprises …

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Central-at-Old-Concord-Charlotte
Affordable HousingDevelopmentNewsNorth CarolinaSoutheast

The Annex Group Begins Development of $57 Million Affordable Housing Community in Charlotte

by Lynn Peisner

CHARLOTTE, N.C. — The Annex Group has broken ground on Central at Old Concord, a 200-unit affordable housing community in Charlotte. The building on the 3.5-acre site will include one-, two- and three-bedroom apartments reserved for renters earning up to 70 percent of area median income. The project is cost is approximately $57 million. Completion is slated for summer 2027. Partners on the project include Cline Design, McAdams, Shelter Investment Group, ECS Southeast LLP, August Mack Environmental, Capital Consultants, Drucker and Falk, DELCK Group LLC and Impact Housing Indiana Corp. …

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Apex-Posner-Park-Davenport
FinanceFloridaNewsSoutheast

Flournoy Partners Land $55 Million ReFi for Metro Orlando’s Apex Posner Park

by Lynn Peisner

DAVENPORT, FLA. — Walker & Dunlop has arranged a $55 million loan for Flournoy Partners to refinance Apex Posner Park Apartments, a luxury community in Davenport, 33 miles southwest of Orlando. Walker & Dunlop’s team was led by Jeremy Pino, Livingston Hessam, Carl Passmore and Kyle Miller. An undisclosed institutional lender provided the capital for the bridge loan. The property’s amenities include a saltwater pool with cabanas and grilling areas, a fitness center, package lockers, a dog park, a clubhouse and a gaming area with billiards. According to the property …

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21-Apartments-Fort-Lauderdale
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Arranges $6 Million Sale in Fort Lauderdale

by Lynn Peisner

FORT LAUDERDALE, FLA. — Marcus & Millichap has arranged the $6 million sale of 21 Apartments in Fort Lauderdale. Built in 1953 and renovated throughout the years, 21 Apartments is located at 2100 NE 33rd Ave. The two-story property comprises a mix of studios, one-bedroom and two-bedroom apartments. Each unit is furnished. The property features on-site laundry facilities, a pool, outdoor lounge areas and an on-site management office. Marcus & Millichap’s team was led by Evan Kristol, Felipe Echarte, Brandon Rex and Austin Michels. The team represented the seller and …

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RAM-Miami-River-North
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $17.8 Million ReFi for Miami Community

by Lynn Peisner

MIAMI — Berkadia has arranged a $17.8 million Fannie Mae loan for Rental Asset Management (RAM). The sponsor will refinance RAM Miami River North, a 96-unit community in the Little Havana area of Miami that RAM acquired in 2022. Berkadia’s Miami-based team consisted of Mitch Sinberg, Scott Wadler, Brad Williamson, Matt Robbins and Hugo Hernandez. RAM is an Oakland Park, Florida-based multifamily owner and operator. Berkadia also arranged the original acquisition loan through Amerant. “Almost three-quarters of the units at RAM Miami River North offer rents at 120 percent of …

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Affordable HousingInvestment SalesKentuckyNewsOperationsSoutheast

Fairstead Acquires Kentucky Affordable Housing Community

by Lynn Peisner

LOUISVILLE, KY. — New York City-based Affordable housing developer and operator Fairstead has acquired a general partner interest in City View Park, an affordable housing community in Louisville. Via the partnership, Fairstead will assume the role of owner and property manager. The community includes 72 one-bedroom, 221 two-bedroom, 179 three-bedroom and 31 four-bedroom residences. Of the 503 total units, 468 are supported by Section 8 contracts, and all homes are governed by Low-Income Housing Tax Credit (LIHTC) affordability restrictions, reserved for residents earning no more than 60 percent of the …

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The-Monroe-Apartments-Tallahassee
FloridaInvestment SalesNewsSoutheast

Eastham Capital, Merion Realty Partners Sell The Monroe in Tallahassee for $47.5 Million

by Lynn Peisner

TALLAHASSEE, FLA. — Florida-based Eastham Capital has sold The Monroe Apartments, a 288-unit apartment community in Tallahassee for $47.5 million. The property was acquired in 2019 with a value-add strategy alongside partner Merion Realty Partners as part of a portfolio called Eastham Capital Fund V. The buyer’s identity was not disclosed. The Monroe Apartments include a mix of one-, two- and three-bedroom units ranging from 1095 to 1695 square feet.  Eastham Capital and Merion implemented a repositioning strategy that the owners say enhanced the asset’s profitability.  At the time of …

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