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Halston Waterleigh in Winter Garden, Florida
FloridaInvestment SalesNewsSoutheast

Ashcroft Capital Acquires 354-Unit Halston Waterleigh in Suburban Orlando

by Channing Hamilton

WINTER GARDEN, FLA. — Ashcroft Capital has purchased Halston Waterleigh, a 354-unit garden-style community in Winter Garden, 17 miles west of downtown Orlando. Formerly known as Braxton Waterleigh, the property is situated within the 22,000-acre Horizon West master-planned community.  The seller and sales price were not disclosed. Halston Waterleigh was built in 2021. The community offers one-, two- and three-bedroom units ranging from 769 to 1,484 square feet. Amenities include a pool with cabanas, fitness center, clubhouse, outdoor kitchen and grill area, pet wash, pet park, sand volleyball court, playground, EV …

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515 Parkwood Ave in Charlotte, North Carolina
DevelopmentFinanceNewsNorth CarolinaSoutheast

JLL Capital Markets Secures $94 Million Financing for Project in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — JLL Capital Markets has arranged $25 million in joint venture equity and $69 million in construction financing for 515 Parkwood Ave, a 287-unit project located in the Mill District region of Charlotte. The complex will comprise 235,480 square feet across eight stories. Units will come in studio, one-, two-, three- and four-bedroom layouts. Planned amenities include a rooftop deck, courtyard, electric bikes, fitness center, shared dining area and coworking spaces. The property will also feature 2,945 square feet of ground-floor retail space. JLL worked alongside the developer, …

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Company NewsFloridaNewsPeople NewsSoutheast

Hillpointe Selects Will Bohn as Managing Director, Asset Management

by Channing Hamilton

WINTER PARK, FLA. — Hillpointe LLC, a developer headquartered in the Orlando, Florida suburb of Winter Park, has appointed Will Bohn to the role of managing director, asset management. Prior to joining Hillpointe, Bohn served as senior vice president of asset management at Simply Self Storage. He began his career with National Storage Affiliates, a public REIT, where he held positions focused on data science, revenue management and acquisitions. Bohn secured a Master of Finance and a Bachelor of Arts in Finance and Legal Studies from Tulane University. 

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Preserve at Perdido in Pensacola, Florida
FinanceFloridaNewsSoutheast

JLL Capital Markets Arranges Financing for Preserve at Perdido in Pensacola, Florida

by Channing Hamilton

PENSACOLA, FLA. — JLL Capital Markets has negotiated financing for Preserve at Perdido, a 312-unit community in Pensacola. JLL worked on behalf of the borrower, Graycliff Capital, to secure the seven-year, fixed-rate loan through Freddie Mac. Trent Niederberger and Danté Thomas led the JLL Capital Markets Debt Advisory team. The loan will be serviced by JLL Real Estate Capital LLC, a Freddie Mac Optigo Lender. Built in 2022, Preserve at Perdido features one-, two- and three-bedroom apartments with an average size of 1,201 square feet. The complex consists of 13 …

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NoMi Villas in North Miami, Florida
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Brokers $2.4 Million Sale of NoMi Villas in Miami Suburb

by Channing Hamilton

NORTH MIAMI, FLA. — Marcus & Millichap (NYSE: MMI) has arranged the sale of NoMi Villas, a 16-unit asset in the Miami suburb of North Miami. The property rises two stories on a 0.3-acre site. Falcon Real Estate Holdings purchased the community from Xanadu Prop for $2.4 million. Nicholas McAndrew, Evan Kristol and Felipe Echarte of Marcus & Millichap’s Fort Lauderdale office marketed the property on behalf of the seller and procured the buyer.

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Cedar Ridge Apartments in Gastonia, North Carolina
Investment SalesNewsNorth CarolinaSoutheast

Gindi Equities Sells Cedar Ridge Apartments Near Charlotte, North Carolina, for $13.5 Million

by Channing Hamilton

GASTONIA, N.C. — Gindi Equities has sold Cedar Ridge Apartments, a 104-unit community located at 1680 Herman Dr. in the Charlotte suburb of Gastonia. Cedar Ridge Apartments offers a mix of two- and three-bedroom units. The asset traded hands for $13.5 million. The buyer was not disclosed. Gindi Equities acquired the property for $10 million in 2021. Over the course of ownership, the company implemented a renovation program at Cedar Ridge, which included upgrading on-site amenities and apartment interiors. Amenities now include a new playground and dog park. The complex’s …

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Parkside Heights in Lexington, Kentucky
FinanceKentuckyNewsSoutheast

JLL Capital Markets Arranges Refinancing for 149-Unit Parkside Heights in Lexington, Kentucky

by Channing Hamilton

LEXINGTON, KY. — JLL Capital Markets has arranged a Fannie Mae loan for the refinancing of Parkside Heights, a 149-unit community situated at 320 Hannah Todd Place in Lexington. The property was constructed on 9.4 acres between 2020 and 2022. Parkside Heights offers one-, two-, and three-bedroom apartments. Amenities include a fitness center, pool, clubhouse and on-site maintenance. The property also includes 255 parking spaces. Parkside Heights was 98 percent occupied at the time of sale. JLL worked on behalf of Arcadia Street Capital to originate the seven-year fixed rate, interest only loan. …

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A property included in a portfolio of seven assets in Spartanburg and Mauldin, South Carolina
FinanceNewsSouth CarolinaSoutheast

JLL Capital Markets Arranges $53.4 Million Bridge Financing for 877-Unit Portfolio in South Carolina

by Channing Hamilton

SPARTANBURG AND MAULDIN, S.C. — JLL Capital Markets has negotiated $53.4 million in bridge financing for a portfolio consisting of 877 units across five properties in Spartanburg and two communities in Mauldin. All seven properties were constructed between 1971 and 1986. The portfolio was 70 percent occupied at the time of sale.  Of the total unit count, 139 have been recently renovated. Additionally, the sponsor plans to remodel an additional 300 apartments. Planned restorations include updates to in-unit features such as new cabinet faces, stainless steel appliances, quartz countertops, light fixtures and non-carpet …

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Braxton at Lake Norman in Mooresville, North Carolina
Investment SalesNewsNorth CarolinaSoutheast

Northmarq Brokers $55 Million Sale of Braxton at Lake Norman in Charlotte Suburb

by Channing Hamilton

MOORESVILLE, N.C. — Northmarq has brokered the sale of Braxton at Lake Norman, a 232-unit community located at 118 Plantation Creek Drive in the Charlotte suburb of Mooresville. Inwood Holdings LLC purchased the property from Passive Investing for $55 million. Andrea Howard, Caylor Mark, John Currin, Allan Lynch, Jeff Glenn and Austin Jackson of Northmarq represented the seller in the deal. Braxton at Lake Norman was built on a 20-acre site in 2014. The average apartment size is 1,055 square feet. Community amenities include a pool, fitness center with rock …

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Speakers at the build-to-rent panel at InterFace Carolinas Multifamily
Build-to-RentDevelopmentFeaturesFinanceNorth CarolinaSoutheast

Build-to-Rent Residential Sector Remains in a Sweet Spot, Say InterFace Panelists

by Channing Hamilton

CHARLOTTE, N.C. — Build-to-rent (BTR), or purpose-built neighborhoods of single-family rental homes, has been an emerging subsector of the multifamily continuum the past several years. The housing type fills a niche for renters as it offers more living space and privacy than typical apartments, but is more affordable and amenitized than for-sale homes. The BTR sector began its ascent during the early years of the COVID-19 pandemic when a confluence of factors —the rise in work-from-home and hybrid work schedules, an increase in household formation of younger millennials, the desirability …

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