CANTON, GA. — Blue Atlantic Partners, an affiliate of Miami, Florida-based Atlantic Pacific Cos., has acquired Canterbury Ridge in Canton, roughly 40 miles north of Atlanta. The new ownership will rename the asset to The Atlantic Canton Ridge. The garden-style community is located at 101 Canterbury Ridge and consists of 212 units. Apartments come in one-, two- and three-bedroom floor plans and range from 654 to 1,338 square feet. Amenities include a pool, fitness center, clubhouse and playground. Atlantic Pacific Cos. will take over property management services. The company also plans …
POMPANO BEACH, FLA. — Adache Real Estate has received a $59 million loan for the refinancing of Old Town Square, a 281-unit property located at 200 N.E. 1st Ave. in Pompano Beach. Built in 2024, the mid-rise community offers studio, one- and two-bedroom units. Amenities include a pool with a hot tub, kitchen with barbecue grills, gaming deck, fitness center, sauna, coworking lab, community bicycles, on-site mini market and a dog run. David Gahagan, Chris Hammel and Chandler Kaye of Northmarq’s West Palm Beach office arranged the loan through an undisclosed …
PLANT CITY, FLA. — NewPoint Real Estate Capital LLC has provided a $50 million lease-up bridge loan to Hillpointe LLC for the refinancing of Pointe Grand Plant City, a 300-unit asset located in Plant City, approximately 24 miles east of Tampa, Florida. Trevor Ritter of NewPoint originated the two-year, floating rate, interest-only loan. Pointe Grand Plant City consists of 10 three-story buildings that house two-bedroom units. Shared amenities include a pool, fitness center, clubhouse with coffee and tea bar, business center with conference room, picnic area with barbecue grills, community …
SUNRISE, FLA. — FCP, in partnership with BMC Investments and The RMR Group, has bought ARIUM Sunrise, a 400-unit asset in Sunrise, approximately 10 miles east of Fort Lauderdale, Florida. ARIUM Sunrise was built in 1998 and was 94 percent occupied at the time of sale. Amenities include a pool, clubhouse and fitness center. Additionally, the partnership plans to upgrade 32 of the units. Wells Fargo provided financing for the acquisition. Robert Given and Zachary Sackley of CBRE represented the seller in the deal. Charles Crapse and Denny St. Romain, …
HOOVER, ALA. — Avenue Living has purchased Ridge Crossings, a 720-unit property located in Hoover, about 10 miles south of Birmingham, Alabama. The sales price was not disclosed. However, Birmingham Business Journal reported the property traded for $111 million. Ridge Crossings was originally constructed in 1991. The property offers one-, two- and three-bedroom units ranging in size from 861 to 1,520 square feet. According to Apartments.com, residents have access to amenities such as a pool, tennis and racquetball courts, fitness center, concierge services, dog park and a clubhouse. Andrew Brown, Craig Hey, …
RICHMOND, VA. — The City of Richmond’s Economic Development Authority (EDA) has sold and transferred an 18-acre parcel to the developer of a $2.4 billion mixed-use project called Diamond District. The land sold for $11.4 million. The developer is an entity led by Thalhimer Realty Partners Inc. that is doing business as Diamond District Partners LLC. The site, dubbed Phase 1A, will feature 730 market-rate apartments, as well as 161 workforce housing units for households earning up to 60 percent of the area median income, a 180-room hotel and 30,000 …
LILBURN, GA. — RangeWater Real Estate, the City of Lilburn and The Meridian Group have partnered to develop a 269-unit community in Lilburn, roughly 23 miles northeast of Atlanta. RangeWater acquired the four-acre site, which is located at 45 Railroad Ave. in Old Town Lilburn near Lilburn City Park. RangeWater and its partners worked with the Downtown Development Authority on the project. The development team plans to break ground on the project this spring, with completion slated for late 2026. The unnamed property will offer studio, one-, two- and three-bedroom …
CHARLOTTE, N.C. — A joint venture comprising MRP Realty, Asana Partners and Rockefeller Group has received construction financing for Brooklyn & Church. The project will convert the former Duke Energy headquarters, located at 526 S. Church St. in Charlotte, into a 460-unit community with 57,000 square feet of retail space. The Duke Energy headquarters was originally built in 1975. MRP Realty and Asana Partners acquired the building in 2022. The building’s core and shell will be preserved, but the façade will be reskinned with new windows and balconies. Once converted, …
HUNTSVILLE, ALA. — Doster Construction Co. has delivered Attain at Bradford Creek, a 350-unit development in Huntsville. Alexandria, Virginia-based Bonaventure is the developer and property manager for the $90 million project. Located at 556 Martin Road, Attain at Bradford Creek features 350 one-, two- and three-bedroom apartments ranging from 839 square feet to 1,375 square feet. Shared amenities include a resort-style pool, fitness center, clubhouse, Amazon package lockers, dog park and a pond.
Late last summer, optimism ran steady across the multifamily investment sales market. Prior to the Federal Reserve’s initial rate cut in September 2024, interest rates had remained stable throughout the year. The outlook was positive. But that more ebullient market proved temporary. The Fed’s interest rate cut had a positive effect on the secured overnight financing rate (SOFR), which fell from 5.3 percent on Sept. 18, 2024, to 4.3 percent in early February 2025. The U.S. 10-year Treasury yield rose during the same period. On Sept. 18, 2024, the 10-year …