Southeast

RIVR-Lofts
DevelopmentFinanceFloridaNewsSoutheast

Moderno Development Group Locks in $117 Million Refinancing for Fort Lauderdale Project

by Lynn Peisner

FORT LAUDERDALE, FLA. — JLL has arranged a three-year, floating-rate $117 million loan for Miami-based Moderno Development Group. The borrower will use the loan to refinance construction debt for Rivr Lofts, a 352-unit property Moderno completed in November 2024. The name of the lending institution was not disclosed. Rivr Lofts in Fort Lauderdale is currently 65 percent leased and includes a mix of studios and one- and two-bedroom residences. Amenities include a rooftop pool and lounge with river, city and ocean views, a fitness center and 3,000 square feet of …

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Sarah-Young
North CarolinaPeople NewsSoutheast

Sarah Young to Replace John Tomlinson as CFO of Bell Partners

by Lynn Peisner

GREENSBORO, N.C. — Sarah C. Young will replace John Tomlinson as chief financial officer (CFO) of Bell Partners, a Greensboro-based investment and property management company. The transition will be effective upon Tomlinson’s retirement, which begins Aug. 22. Young will report to Chief Executive Officer Lili Dunn. After his retirement, Tomlinson will remain as an advisor to the company through the end of 2025. Young previously served as CFO and senior managing director at Quarterra Group, a subsidiary of Lennar, where she worked for 10 years managing financial operations and strategic …

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RENDER-Stockbridge
DevelopmentGeorgiaNewsSoutheast

Crescent Communities Opens RENDER Stockbridge

by Lynn Peisner

STOCKBRIDGE, GA. — Crescent Communities and equity partner Phoenix Capital Management have opened RENDER Stockbridge, 297-unit community 20 miles southeast of Atlanta. CIBC Bank USA also was a financial partner. Crescent Communities Construction served as the general contractor. Dwell Design Studio is the project’s architect, with Ironwood Design Group handling landscape architecture and Thomas & Hutton conducting civil engineering. Amenities at RENDER Stockbridge include a resort-style pool, a firepit and grills, coworking spaces with private offices and conference rooms, two dog parks a fitness center, a complimentary coffee bar and …

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Vida-Lakewood-Ranch
BerkadiaFloridaInvestment SalesNewsSoutheast

Zilber Residential Sells Bradenton Asset for $92 Million

by Lynn Peisner

BRADENTON, FLA. — Zilber Residential Group, a Milwaukee-based developer, owner and property manager founded in 1949, has sold Vida Lakewood Ranch in Bradenton to an undisclosed investor for $92 million. Berkadia Senior Managing Director Matt Mitchell and Director Chris Burtner represented Zilber, which developed the asset, in the deal. The two-story, garden-style Vida is located in Lakewood Ranch, a master-planned community that spans 50 square miles in Manatee and Sarasota counties. The property is comprised of one- and two-bedroom units. Amenities include a fitness center, shaded game lawn and grilling …

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Alex-at-Patterson-Place
BerkadiaBuild-to-RentInvestment SalesNewsSouth CarolinaSoutheast

Berkadia Arranges Hilton Head Sale

by Lynn Peisner

HILTON HEAD ISLAND, S.C. — Berkadia has arranged the sale of Cottages at Alex Patterson Place, a build-to-rent (BTR) property in Hilton Head. Berkadia represented the seller, a partnership between Putnam Atlantic Properties and Verde Capital, in the deal, which closed on June 25. The buyer was Florida-based Sakim Realty Holdings. The Cottages at Alex Patterson comes “permit-ready” for a second phase that could include the development of six additional cottages, according to Berkadia.

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Waterside-at-Rice-Hope-Savannah
Build-to-RentGeorgiaLeasing & MarketingNewsSoutheast

ARK Homes for Rent Opens Leasing at BTR Development Near Savannah

by Lynn Peisner

PORT WENTWORTH, GA. — Build-to-rent developer ARK Homes For Rent has begun leasing Waterside at Rice Hope, a newly completed community 13 miles north of Savannah, Ga. Asking rents at the 103-unit townhome community range from $1,999 to $2,024, according to the property website. Units, which vary in size, have three bedrooms and two-and-a-half bathrooms, smart home technology and attached garages. Amenities include a resort-style pool, splash park and walking trails as well as a nearby 35-acre lake with kayaking, paddleboarding and fishing. Residents also have access to a clubhouse …

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Developers-Carolinas-Multifamily
Conference CoverageDevelopmentFeaturesFinanceSoutheast

Lenders Are Back in Action for Multifamily Development Deals, Says InterFace Panel

by Lynn Peisner

CHARLOTTE, N.C. — In its first-quarter report, property management research firm RealPage stated that the “supply wave for multifamily was cresting” as the U.S. apartment sector set a record in terms of units absorbed (138,302), outpacing deliveries (116,092). Those figures are a sharp contrast from the first quarter of 2024 when deliveries (135,652) outstripped absorption (103,826). Will Block, partner and co-founder of Olympus Development Co., said that the flip in the U.S. apartment market’s supply-demand dynamic the past 12 months has made all the difference in terms of lenders’ perception. Editor’s …

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Sunlake-North
BerkadiaBuild-to-RentDevelopmentFloridaInvestment SalesNewsSoutheast

Maymont Homes, Dinerstein to Develop BTR Project Near Tampa

by Lynn Peisner

LAND O’LAKES, FLA. — Berkadia has arranged the sale of a 28.5-acre parcel. Brookfield Residential Land was the seller, and Maymont Homes was the buyer. The site, located in the master-planned community of Bexley 30 miles north of Tampa, is entitled for low-density multifamily. Maymont will partner with Dinerstein Cos. to develop a 250-unit build-to-rent (BTR) community on the site. The project will be complete by the fourth quarter of 2026. The unnamed project will include a mix of two- and three-bedroom residences featuring private yards, attached garages and access …

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2000-Biscayne-Miami
FinanceFloridaNewsSoutheast

Kushner, PTM Secure $87.3 Million Refinancing Loan for Miami Asset

by Lynn Peisner

MIAMI — Walker & Dunlop has arranged an $87.3 million loan on behalf of Kushner Companies and PTM Partners to retire construction-phase debt on 2000 Biscayne in Miami. The property, located on Biscayne Boulevard, is a 36-story residential tower featuring 420 apartments. The joint venture development team completed construction in October 2024. The W&D New York Capital Markets team led by Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Stepniewski, Jordan Casella, Christopher de Raet and Stanley Cayre were advisors to the borrowers. Corebridge Financial provided the capital for …

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Pointe-at-Carrollwood-Tampa
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $38.3 Million Refinancing for Beacon Realty Group

by Lynn Peisner

TAMPA, FLA. — Berkadia has arranged approximately $38.3 million in debt and equity for the refinancing of Pointe at Carrollwood owned by Miami-based Beacon Realty Group. Beacon bought the 224-unit Tampa asset in 2022 as a value-add acquisition and has since invested about $3.6 million in capital improvements. The firm will use the financing to retire existing acquisition debt. The property is currently 95 percent occupied. Berkadia arranged a $29.9 million, five-year fixed-rate Freddie Mac loan. In addition, Miami-based Atlantic Pacific Companies, a privately owned real estate firm, provided a …

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