Southeast

Investment SalesNewsNorth CarolinaSoutheast

Northmarq Arranges $82 Million Deal in Charlotte

by Lynn Peisner

CHARLOTTE, N.C. — Trammell Crow Residential (TCR) has sold Alexan Mill District in Charlotte for $82 million. The Seminole Tribe of Florida Sovereign Wealth Fund’s Real Estate Fund (SemREF) was the buyer, marking SemREF’s third deal with TCR. Northmarq’s Charlotte Multifamily Investment Sales team, representing TCR, was led by Allan Lynch, Caylor Mark, Andrea Howard, John Currin, Jeff Glenn and Austin Jackson. Alexan Mill District was developed last year and includes 290 units and such amenities as a clubhouse, indoor-outdoor social space with a catering kitchen, a rooftop lounge, a …

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Granby-Oaks-&-The-Vale
FinanceNewsSouth CarolinaSoutheastTennessee

JLL Arranges ReFi Loans for Owner of Properties in South Carolina and Tennessee

by Lynn Peisner

WEST COLUMBIA, S.C., AND NASHVILLE, TENN. — JLL has arranged approximately $33.9 million in Freddie Mac refinancing loans for two properties owned by PAM Associates. JLL Capital Market’s Debt Advisory Team arranged a $19.8 million loan for Granby Oaks in West Columbia and a $14 million loan for The Vale in Nashville. Granby Oaks is a 148-unit, garden-style community that was built in 1973. It features one-, two- and three-bedroom units. Since acquiring the asset in 2022, PAM Associates has invested approximately  $2.1 million in capital improvements, upgrading all of …

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North-Bluff
Investment SalesNewsSouth CarolinaSoutheast

JV Acquires Charleston Value-Add Portfolio

by Lynn Peisner

CHARLESTON, S.C. — Ginkgo Residential and J.P. Morgan Real Estate Income Trust (JPMREIT) have acquired a five-property portfolio totaling 647 units across the Charleston metro area. The communities include: Brackenbrook Apartments (168 units), North Bluff Apartments (144 units), The Landing (119 units), Sawbranch Apartments (112 units) and Woodlocke Apartments (104 units). Originally developed between 1975 and 1985, the portfolio has been owned and managed by the same group for many decades, according to Ginkgo, which is a Charlotte, North Carolina-based investment firm that pursues value-add acquisitions across the Southeast. The …

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Stateswood
DevelopmentNewsNorth CarolinaSoutheast

EMBREY Closes on Land, Secures Financing For Charlotte Development

by Lynn Peisner

CHARLOTTE, N.C. — EMBREY, a San Antonio-based investment firm, has closed on land and financing for Stateswood, a 300-unit community located at  10630 Twin Lakes Parkway in Charlotte. The 19.8-acre property will be a three-story, garden-style development with such amenities as a clubhouse, coworking lounge, a resort-style pool, a fitness center, a courtyard, a pet park and a 24-hour package room. Pre-leasing will be handled by EMBREY Management Services, and the developer anticipates completion by the first quarter of 2027. The financing for Stateswood was provided by Trustmark Bank.

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Richmond-Hill
DevelopmentGeorgiaNewsSoutheast

ECI Breaks Ground on $60 Million Mixed-Use Project Near Savannah

by Lynn Peisner

RICHMOND HILL, GA. — Atlanta-based ECI Group broke ground Aug. 20 on The Averly Richmond Hill, a mixed-use development that includes 291 multifamily units. The project is in Richmond Hill, about 20 miles southwest of Savannah, Georgia. ECI Construction is the general contractor, with construction financing provided by Synovus and CIBC. Ashley Smith and Tyler Mouchet of Colliers Savannah have been selected to market the 3.5 acres of retail pad sites, which are available for ground lease. Behind the commercial acreage, ECI is constructing the multifamily community, which consists of …

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Broadstone-West-End
DevelopmentNewsNorth CarolinaSoutheast

Alliance Residential Opens Broadstone Project in Charlotte

by Lynn Peisner

CHARLOTTE, N.C. — Alliance Residential Co. has opened Broadstone West End, a 332-unit community in Charlotte’s FreeMoreWest neighborhood. The project was designed by a Charlotte-based team including McAdams Co. (civil engineering), Cline Design (architecture) and MAD Studio Interiors (interior design). Broadstone West End offers studios and one- and two-bedroom floor plans. Units feature Samsung stainless steel appliances, wide plank flooring, quartz countertops, electronic entry locks and full-size washers and dryers. Private balconies, built-in entry storage and city views are available in select floor plans. Residents can choose from three interior …

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Eastfield-Village-Selma
DevelopmentNewsNorth CarolinaSoutheast

NRP Group Buys Land for Community Within North Carolina’s Eastfield Mixed-Use Development

by Lynn Peisner

SELMA, N.C. — AdVenture Development has sold approximately 14.5 acres to The NRP Group, which will develop Eastfield Village on the site. The community will be the multifamily component of AdVenture’s Eastfield mixed-use development in Selma, a city about 33 miles southeast of Raleigh. The 348-unit Eastfield Village will feature amenities including a freestanding clubhouse, a 24-hour fitness center, a pool, grilling stations, a dog park and a pickleball court. Units will be offered as one-, two- and three-bedroom floor plans across 12 three-story garden-style buildings. Completion is slated for …

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Residences-Rocky-Point
DevelopmentFloridaNewsSoutheast

Joint Venture to Develop $187 Million Tampa High-Rise

by Lynn Peisner

TAMPA, FLA. — Costis-Lifsey Development and American Land Ventures will develop a 21-story, 252-unit tower on the site of Rusty Pelican, a restaurant and wedding venue that opened in 1978. The site is in Rocky Point, a neighborhood on an island in Tampa Bay. The project is being designed by the architecture firms Cube 3 and RSP Architects in tandem with the civil engineering firm Kimley-Horn. Construction is expected to begin in early 2027 and to be completed by mid-2028. The new development, currently called Residences at Rocky Point, will …

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Society-at-Laurens
FinanceNewsSouth CarolinaSoutheast

Southern Land Co. Refinances Charleston Development

by Lynn Peisner

CHARLESTON, S.C. — Walker & Dunlop has arranged a $75 million loan for Southern Land Co. to refinance construction debt used to develop Society at Laurens, a 148-unit community in Charleston that opened earlier this year. Walker & Dunlop’s Walker Layne, Matt Wallach and Stephen West arranged a three-year bridge loan through Aareal Capital. Society at Laurens is comprised of studios and one-, two- and three-bedroom units as well as penthouses. Amenities include a heated saltwater pool and a hot tub situated on a second-floor deck with views of Charleston …

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Milestone-Group-Casa-Brera
FloridaInvestment SalesNewsSoutheast

Milestone Group Buys Community in Lake Worth, Florida

by Lynn Peisner

LAKE WORTH, FLA. — The Milestone Group has acquired Casa Brera at Toscana Isles in Lake Worth for an undisclosed figure. The 206-unit community features one-, two- and three-bedroom units and such amenities as a resort-style pool, a private movie theater, a fitness center, dog park, multi-purpose sports court and a clubhouse. Hampton Beebe and Avery Klann of Newmark marketed the property on behalf of the undisclosed seller.

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