MACON, GA. — Argus Eyed Partners and Sierra Property Management have rebranded as AREY Group, a fully integrated real estate platform based in Macon, Georgia. The platform will be focused on development and acquisitions, and will also offer asset and property management services. AREY Group has completed over 2 million square feet of multifamily and commercial development on institutional campuses. The company has developed and manages over 2,000 units of conventional multifamily and student housing units across the Southeast.
BATON ROUGE, LA. — Marcus & Millichap has brokered the $11.6 million sale of a portfolio in Baton Rouge. Granite Pelican Bay LLC purchased the assets from an entity doing business as 2121 Lobdell LLC. John Hamilton, Chris Shaheen, Will Balthrope and Drew Garza of Marcus & Millichap represented the seller and procured the buyer. The portfolio comprises 248 units across three properties, including: Howell Place, which is located at 4150 72nd Ave.; Pelican Bay at 2121 Lobdell Blvd.; and Pirates Bend at 8165 Plank Road. The communities were built …
MIAMI-DADE COUNTY, FLA. — Pinnacle has secured $49.9 million in construction financing for phase II of Old Cutler Village, a 120-unit affordable housing project located at 10455 Old Cutler Road in unincorporated southern Miami-Dade County. Once completed, the building will rise five stories and offer one-, two- and three-bedroom layouts. Units will be available to households earning 30, 60 and 70 percent of the area median income. Construction is expected to be completed in October 2025.
JACKSONVILLE, FLA. — S2 Capital has acquired Belle Rive Club Apartments, a 104-unit community located at 8715 Belle Rive Blvd. in the Royal Lakes neighborhood of Jacksonville. Belle Rive Club Apartments offers one- and two-bedroom floor plans. Amenities include a pool, grilling area, dog park, fitness center, clubhouse, car wash area and access to the nearby inland lakes. The name of the seller was not disclosed. S2 Capital acquired the asset alongside Vineyard Hills, a 202-unit community in Austin, Texas.
ORLANDO, FLA. — Wood Partners has broken ground on V by Alta, a 219-unit development located at 10149 Arise Loop in Orlando. The community will offer a mix of studio, one-, two- and three-bedroom units. Planned amenities include a lobby lounge, clubroom, business lounge, fitness center, game room, pool, pet park with pet wash station, grilling stations, bike racks and EV charging stations. The fifth floor will also feature a Fireworks Lounge, where tenants can watch nightly fireworks from the nearby theme parks.
CHARLOTTE, N.C. — BWE has brokered a $35.9 million loan for the refinancing of Accent Southrail, a 304-unit community located at 6026 Station Crossing Ave. in Charlotte’s Lower South End district. Alan Tapie, Thomas Wiedeman, Brad Walker and Hanley Long of BWE arranged the three-year, fixed-rate loan through a life company lender. The financing features flexible prepayment options. Westplan Investors was the borrower. Accent Southrail was built in 2021. The project offers one-, two- and three-bedroom floor plans. Amenities include a gym, pool with loungers and Orbit daybeds, clubroom with …
VIRGINIA BEACH, VA. — SLN Capital Markets, a division of S.L. Nusbaum Realty Co., has arranged the sale of Live Oaks Village, a 32-unit asset in Virginia Beach. Live Oaks Village offers three-bedroom, townhome-style apartments. Lasgo Inc. purchased the property from BBD Holdings LLC for $12.2 million. Doug Aronson and Nathan Shor of SLN Capital Markets negotiated the deal. The seller was finishing up renovations to the property at the time of the sale, according to SLN Capital Markets.
OPELIKA, ALA. — Arey Group has begun pre-leasing at The Taylor, a 198-unit community in the historic downtown area of Opelika. Located at 411 South 10th Street, The Taylor will offer one-, two- and three-bedroom layouts. Apartments feature stainless steel appliances and quartz countertops. Monthly rents begin at $1,250. Amenities include an entertainment area and fitness center. The community is slated to open in Q3 2024. The Taylor was designed by Geheber Lewis Associates. Focus Design Interiors provided interior design services.
PALMETTO, FLA. — Berkadia has negotiated a $97 million construction loan for The Carlton at Robinson Gateway, a 610-unit development in Palmetto. Mitch Sinberg, Bryan Brown, Matt Robbins, Scott Wadler and Brad Williamson of Berkadia arranged the financing through Goldman Sachs Private Bank, a division within its Wealth Management platform. The Mahaffey Apartment Co., the borrower and developer, expects to break ground on the community this summer. Esterline Construction is the general contractor on the project. The Carlton at Robinson Gateway will offer one-, two- and three-bedroom units ranging from …
FORT LAUDERDALE, FLA. — Centennial Bank has provided an $84.4 million loan to facilitate the construction of The Arcadian, an affordable housing development located in the Sistrunk District of Fort Lauderdale. Sunshine Shipyard LLC, an affiliated company of a joint venture between Fuse Group and Boca Paila LLC, was the borrower and developer. Situated at 640 NW 7th Avenue, The Arcadian will comprise 478 apartments. The property also includes 15,000 square feet of ground-floor retail and a 212,000-square-foot parking garage. Units will be available to households earning between 100 and …