Southeast

Hollywood, Florida, beach
Affordable HousingDevelopmentFloridaIndustry VoicesSoutheast

Low Cost of Living, New Affordable Housing Legislation Lure Renters and Developers to Hollywood, Florida

by Lynn Peisner

The city of Hollywood, Florida, is transforming. Once best known for its pristine beaches and as the winter home to many French Canadians, the area is becoming a magnet for new arrivals from the Northeast, Texas and California seeking a better place to live and do business. Hollywood’s mayor and city commissioners are showing their support for multifamily development, which will result in half a dozen projects being completed in 2025. Why are people choosing Hollywood and not Fort Lauderdale or well-known Miami neighborhoods like Brickell and Wynwood? Because the …

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The NRP Group's Residences at Cedar Creek in Charlotte
Affordable HousingDevelopmentNewsNorth CarolinaSoutheast

The NRP Group Delivers Affordable Housing in Charlotte

by Lynn Peisner

Charlotte, N.C. — Cleveland-based The NRP Group has completed and opened Residences at Cedar Creek, a mixed-income community located about nine miles southwest of Charlotte. The 200-unit property mainly serves residents earning between 30 and 60 percent of area median income (AMI). A few units are reserved for renters earning up to 80 percent AMI. Bank of America and KeyBank provided financing for the project. The City of Charlotte also invested $2.5 million in Housing Trust Fund gap financing, and the North Carolina Housing Finance Agency provided $22 million in …

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Company NewsGeorgiaLeasing & MarketingNewsOperationsPeople NewsSoutheast

RKW Tapped to Manage Atlanta Property, Hires New Regional Manager

by Lynn Peisner

DULUTH, GA — Westplan has selected third party management firm RKW Residential to lease and manage Accent Suwanee Creek near Atlanta. The 253-unit property is made up of one-, two- and three-bedroom units. RKW also has hired Sean Shalpan, formerly a regional manager with Greystar, to support RKW’s growth throughout Georgia. RKW is headquartered in Charlotte with regional offices in Miami, Orlando, Florida, Atlanta and Raleigh, North Carolina. The company manages approximately 30,000 multifamily and build-to-rent units in eight states.

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Landmark at Gleneagles in Dallas
Investment SalesNewsSoutheastTennesseeTexas

S2 Capital Acquires Five-Property Portfolio Totaling 1,768 Units

by Channing Hamilton

DALLAS, ANTIOCH, TENN. AND KNOXVILLE, TENN. — S2 Capital has acquired a portfolio of five distressed properties facing foreclosure in Dallas, Antioch and Knoxville. S2 invested $60 million of rescue capital in a new joint venture with the existing Limited Partner through a structured preferred equity investment. ACORE Capital provided a $170 million senior loan for the acquisition. The loan features a five-year term. The five properties included in the portfolio were:

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Westwood Apartments in Jacksonville, Florida
FloridaMarket ReportsSoutheast

Why Renters Will Rush to North and Central Florida Metros in 2025

by Channing Hamilton

Investors are attracted to the fundamentals underpinning North and Central Florida’s multifamily market for good reason.  Even before the pandemic, Tampa and Orlando — the region’s two largest metros — were in growth mode, with large corporate relocations and expansions driving demand for housing. Florida’s population surge between 2020 and 2022 accelerated that process. The state had the highest net migration increase in the country, gaining about a quarter of a million new residents in 2022 alone.  Orlando and Tampa ranked fourth and fifth, respectively, among the top 10 metros nationally …

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2020 at Providence in Huntsville, Alabama
AlabamaDevelopmentNewsSoutheast

WSS Development Opens $100 Million Mixed-Use Project in Huntsville, Alabama

by Channing Hamilton

HUNTSVILLE, ALA. — WSS Development LLC has completed 2020 at Providence, a $100 million mixed-use community in Huntsville. The two-tower project is situated within the larger 305-acre Village of Providence master-planned development, which also includes a town center featuring more than 800,000 square feet of office, restaurants, retail and hotels. 2020 at Providence consists of 360 apartments, as well as 23,000 square feet of retail space. According to the property website, 2020 at Providence rises seven stories and offers one-, two- and three-story floor plans. Monthly rates begin at $1,500 …

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Cloverdale Estates in Montgomery, Alabama
AlabamaInvestment SalesNewsSoutheast

DWG Capital, Dorado Holdings Acquire Cloverdale Estates in Montgomery, Alabama

by Channing Hamilton

MONTGOMERY, ALA. — A partnership between DWG Capital Partners and Dorado Holdings has purchased Cloverdale Estates, a 106-unit community located at 3453 Audubon Road in Montgomery. Josh Jacobs of Marcus & Millichap’s Birmingham office represented the seller, an entity doing business as RK Cloverdale LLC, in the deal. The sales price was not disclosed. Cloverdale Estates offers one-, two- and three-bedroom apartments ranging from 725 to 1,350 square feet. Each residence features a patio or balcony, and select units also include in-unit washer and dryer connections. Roughly 70 percent of …

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Centro City in Miami
DevelopmentFinanceFloridaNewsSoutheast

Terra Receives $291 Million Financing Package for Mixed-Use Development in Miami

by Channing Hamilton

MIAMI — Locally based developer Terra has received a total of $291 million in permanent financing for the recently completed first phase of Centro City, a 38-acre mixed-use project located just west of Miami’s Little Havana neighborhood. Phase I comprises 350,000 square feet of retail space, as well as three eight-story apartment buildings that house 470 market-rate units. JVP Management issued a $187 million loan for the development’s multifamily component, while Hudson Bay Capital issued a $104 million loan for the retail component. The funds will be used to pay …

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Fourteen Main Street Residences in Miami
FinanceFloridaNewsSoutheast

Starwood Property Trust Provides $63.5 Million in Refinancing for Mixed-Use Project in Miami

by Channing Hamilton

MIAMI, FLA. — Starwood Property Trust has provided $63.5 million for the refinancing of Fourteen Main Street Residences, a two-tower mixed-use development located at 1470 NW 36th St. in Miami. Charles Foschini, Christopher Apone, Lourdes Carranza-Alvarez and Shannon Wilson of Berkadia negotiated the financing on behalf of the sponsors, Neology Development Group and American Opportunity Zone Advisors. Once completed in the first quarter of 2025, Fourteen Main Street Residences will consist of 14-story building that houses 180 apartments, and a five-story building with 57 units. The community will offer studio, …

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ButterflyMX
FeaturesMidwestNortheastOperationsSoutheastTexasWestern

How Tech Upgrades are Expanding Access Control Solutions

by Channing Hamilton

Security is a top priority in the multifamily industry. Monitoring and controlling access to a property protects owners and their residents from the impacts of violent crime, theft, vandalism and trespassing. The benefits of an effective security, monitoring and access system run deep. “Access control is not just about security,” says Roger Solomon, a senior associate at Trio Advisory Group. The company offers consulting services on access control, video surveillance and other technologies for commercial real estate properties. “Access control is also about ensuring convenience for residents and staff, enhancing …

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