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The Vine on NE 35th Street in Miami
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Arranges $15.1 Million Sale of Development Site in Miami

by Channing Hamilton

MIAMI — Marcus & Millichap has arranged the sale of The Vine on NE 35th Street, a 36,000-square-foot development site located at 404-436 NE 35th Street in the Edgewater district of Miami. The asset traded hands for $15.1 million.  The Vine on NE 35th Street spans six parcels. The site is under Miami 21’s T6-36A designation and allows for up to 124 residential units or 248 hotel units.  Ryan Shaw of Marcus & Millichap’s Miami office exclusively marketed the property on behalf of the seller, G&L Associates at 35th Street …

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McAlpine Vista in Charlotte, North Carolina
DevelopmentFinanceNewsNorth CarolinaSoutheast

JLL Capital Markets Arranges $43.6 Million Construction Financing for McAlpine Vista in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — JLL Capital Markets has secured a $43.6 million loan to finance the construction of McAlpine Vista, a 320-unit development in Charlotte. Matthew Schoenfeldt of JLL arranged the three-year, non-recourse, floating-rate loan through Hartford Investment Management Co. (HIMCO) on behalf of the borrower, Vista Residential Partners. Situated on 14.8 acres at 8011 Krenfeld Drive, McAlpine Vista will comprise 320 apartments. Units will come in one-, two- and three-bedroom floor plans. Amenities will include a 7,750-square-foot clubhouse with a fitness center, coworking spaces and a club room, as well …

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Arbor Trace Apartment Homes in Lynn Haven, Florida
FinanceFloridaNewsSoutheast

CBRE Arranges $99.7 Million Refinancing for Three Properties in Florida

by Channing Hamilton

LYNN HAVEN AND TALLAHASSEE, FLA. — CBRE has arranged three loans totaling $99.7 million for the refinancing for three communities in Florida. Two of the properties are situated in Lynn Haven, roughly 13 miles north of Panama City Beach, Florida. The third community is located in Tallahassee. The borrower was Tallahassee-based Arbor Properties Inc. The loans included a Fannie Mae loan for Arbor Trace Apartment Homes, a 336-unit property in Lynn Haven that was built in 2007; a Fannie Mae loan for Arbor Crossing at Buck Lake, a 208-unit community …

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Woods of Williamsburg in Williamsburg, Virginia
Investment SalesNewsSoutheastVirginia

Hamilton Zanze Sells 125-Unit Community in Williamsburg, Virginia

by Channing Hamilton

WILLIAMSBURG, VA. — Hamilton Zanze has sold Woods of Williamsburg, a 125-unit garden-style community situated at 108 Tilghman Court in Williamsburg. The seller and sales price were not disclosed. The sale marks the San Francisco-based investment firm’s fourth disposition in 2024. Hamilton Zanze originally sponsored the acquisition of the property in 2018. The company conducted various renovations at the property, including the repainting of building exteriors as well as updates to the pool area and amenity spaces. Woods of Williamsburg was built in 1978. The community offers studio, one-, two- …

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FloridaInvestment SalesNewsSoutheast

Integra Investments Acquires 317-Unit Monaco Isles in West Palm Beach, Florida

by Channing Hamilton

WEST PALM BEACH, FLA. — Miami-based investor and developer Integra Investments has acquired Monaco Isles, a 317-unit community located at 800 The Pointe Drive in West Palm Beach. Axonic Properties sold the asset for an undisclosed price. The garden-style property rises two stories. Amenities include a pool and jacuzzi, fitness center, clubhouse, business center, children’s playground, picnic area and dog park.

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Michelle Newton, Insurance Office of America
Industry VoicesOperationsSoutheast

Property Owners Must be Proactive to Mitigate Flood Risk

by Channing Hamilton

Hurricane season is in full swing. As heavy rains and powerful winds tear through the Southeast, flooding has quickly become a major concern for multifamily owners and operators. Flooding is the most common and costly type of natural hazard in the nation. According to the Department of Homeland Security, 90 percent of natural disasters within the United States involve flooding. Additionally, flood risk is intensifying as the number and severity of storms increase. The National Oceanic and Atmospheric Administration (NOAA) predicted an 85 percent chance of a more destructive than average hurricane season in …

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RENDER Douglasville in Douglasville, Georgia
DevelopmentNewsSoutheast

Crescent Communities to Develop 300-Unit Community in Douglasville, Georgia

by Channing Hamilton

DOUGLASVILLE, GA. — Crescent Communities plans to develop RENDER Douglasville, a 300-unit community in Douglasville, roughly 20 miles west of Atlanta. Once completed in early 2026, the property will offer amenities including a pool, clubhouse, outdoor spaces and entertainment programming. Project partners include CIBC, Great Southern Bank and Crescent Communities Construction. Phoenix Capital Management is providing financing. RENDER Douglasville is situated within The Trails, a mixed-use project that The Foxfield Cos. is developing. In addition to RENDER Douglasville, The Trails also features 60,000 square feet of townhome, hospitality and office …

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Sovereign Apartments in Fort Worth, Texas
FloridaGeorgiaInvestment SalesKentuckyNew YorkNewsNortheastSouth CarolinaSoutheastTennesseeTexas

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

by Channing Hamilton

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 …

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903 Peachtree in Atlanta
GeorgiaInvestment SalesNewsSoutheast

Waterton Acquires 32-Story 903 Peachtree in Midtown Atlanta

by Channing Hamilton

ATLANTA — Waterton has purchased 903 Peachtree, a 32-story apartment tower located at 903 Peachtree St. in Atlanta’s Midtown neighborhood. The seller and sales price were not disclosed, but Atlanta Business Chronicle reported that the asset traded for $118.6 million. 903 Peachtree features 427 apartment units, as well as 46,000 square feet of amenity space. Units come in studio, one-, two- and three-bedroom floor plans. The property also includes 7,843 square feet of retail space. Residents have access to outdoor amenities such as a rooftop pool and lounge area, grilling stations, private cabanas …

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Kensington Crossing in Fredericksburg, Virginia
Investment SalesNewsSoutheastVirginia

The Milestone Group Acquires Two Communities Totaling 676 Units in Fredericksburg, Virginia

by Channing Hamilton

FREDERICKSBURG, VA. — The Milestone Group has acquired two apartment communities totaling 676 units in Fredericksburg, a city situated roughly 60 miles south of Washington, D.C., and 60 miles north of Richmond, Virginia. The communities included in the sale were Kensington Crossing (476 units) and Magnolia Falls (200 units). The Milestone Group assumed the existing loans for both communities and plans to upgrade common areas and amenities. The previous owner fully renovated the interiors at both properties. The seller and sales price were not disclosed.

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