Southeast

Maizon-Durham
DevelopmentNewsNorth CarolinaSoutheast

ZOM Living Opens Maizon Durham

by Lynn Peisner

DURHAM, N.C. — ZOM Living and AEW Capital Management have completed Maizon Durham, a 248-unit property in downtown Durham. The community features 13,000 square feet of street-level retail, a resort-style pool, coworking spaces, a pet spa, a fitness center with a spin studio and a café. Units are offered as studio, one-, two- and three-bedroom floor plans ranging from 558 to 1,450 square feet. Hord Coplan Macht was the architect, and One Line Design Studio handled interior design. The developer is seeking food and wellness tenants for the commercial space.

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Timbercreek-Apartments
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Arranges $7.2 Million Sale in Miami

by Lynn Peisner

MIAMI — Evan Kristol and Felipe Echarte of Marcus & Millichap’s Fort Lauderdale office have arranged the sale of Timbercreek Apartments in Kendall, a neighborhood in the southwest area of the Miami metro. The 29-unit property is located at 11098 SW 107th St. and consists of two three-story buildings totaling 25,746 square feet with a mix of one- and two-bedroom units averaging 888 square feet. Apartments feature tile flooring, updated kitchens and bathrooms and private balconies or patios. Amenities include a pool, laundry facilities and 52 surface parking spaces. The …

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Park-Central-Apartments
Investment SalesNewsNorth CarolinaSoutheast

Fairfield Buys Midtown Raleigh High-Rise for $132.5 Million

by Lynn Peisner

RALEIGH, N.C. — KBS has sold Park Central Apartments, a 286-unit luxury high-rise community with ground-floor retail in Raleigh, to Fairfield Residential for $132.5 million. KBS developed the property with partner Raleigh-based Kane Realty Corp., delivering it in 2017. According to KBS, it is the first high-rise in Raleigh’s North Hills neighborhood. Amenities include a sky deck with a saltwater pool, a clubhouse, sauna, a dog spa, fitness and conference centers and a parking garage for residents. The units sit above 36,000 square feet of retail, including, casual dining restaurant …

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Centro-City-Miami
DevelopmentFinanceFloridaNewsSoutheast

Terra Opens Centro City Residences in Miami

by Lynn Peisner

MIAMI — Locally based developer Terra has completed construction of Centro City Residences, a 470-unit community that is part of the first phase of Centro City, a 38-acre mixed-use development in Miami’s West Little Havana neighborhood. The Arquitectonica-designed development comprises three eight-story buildings that surround courtyards, pool decks and landscaped sidewalks. Leasing is currently underway, with tenant move-ins in progress. Centro City Residences offers studio, one-bedroom and two-bedroom apartments with monthly asking rents that start at approximately $2,400. Amenities include a two resort-style pools with cabanas, a fitness center, yoga …

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Yard-at-Brookhaven-Orlando
DevelopmentFinanceFloridaNewsSoutheast

Berkadia Arranges $61.3 Million Construction Loan for Orlando Mixed-Use Development

by Lynn Peisner

ORLANDO, FLA. — Berkadia has arranged a $61.3 million construction loan for Yard at Brookhaven, a 293,000-square-foot mixed-use residential project Real Estate Inverlad Development (REID) is building near downtown Orlando. Construction began in March. The lender was City National Bank. Located on approximately 4 acres at the intersection of Brookhaven and Virginia drive in the Lake Ivanhoe/Lake Formosa section of Orlando, The Yard at Brookhaven will be a seven-story building with 265 units, a 500-space parking garage and approximately 19,000 square feet of commercial space. A completion date was not …

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Ekos-Creekside-Naples
Affordable HousingDevelopmentFloridaNewsSoutheast

McDowell Housing Partners Breaks Ground on $63 Million Ekos Creekside in Naples

by Lynn Peisner

NAPLES, FLA. — McDowell Housing Partners (MHP) has broken ground on Ekos Creekside, a 160-unit affordable housing community in Naples reserved for families earning between 30 and 80 percent of area median income. The $63 million development is backed by a variety of financial partners and stakeholders. Collier County owns the land and has entered into a long-term ground lease agreement with MHP. Financing sources include tax-exempt bonds from the state, a construction loan from Fifth Third Bank and permanent financing via Barings. MHP raised equity for the development through …

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Summerlin-Fort-Myers
Affordable HousingDevelopmentFloridaNewsSoutheast

Curran Young Underway on Fort Myers Affordable Housing Redevelopment

by Lynn Peisner

FORT MYERS, FLA. — Curran Young Construction has begun work on 5300 Summerlin Apartments, an affordable housing redevelopment in Fort Myers. The 8.5-acre, 172-unit property will be converted into a 230-unit community across three buildings. Amenities will include a 4,396-square-foot clubhouse, community gardens, a dog park, covered pavilions and grilling areas. Procida is the developer. Completion is slated for 2027. Rent restrictions were not disclosed.

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Symphony-Suwanee
FinanceGeorgiaNewsSoutheastTexas

JV Lands $125.5 Million ReFi for Georgia-Texas Portfolio

by Lynn Peisner

AUSTIN, TEXAS, AND ATLANTA — JLL has arranged a $125.5 million refinancing loan for a three-property portfolio consisting of assets in Austin and around the Atlanta metro area. Known as the MAG portfolio, the properties are owned by Myers Apartment Group and Torchlight Investors. The portfolio includes Citadel at Tech Ridge in Austin, Highlands at Sweetwater Creek in Duluth, Georgia, and Symphony at Suwanee Creek in Suwanee, Georgia. Built between 2019 and 2021, the properties are currently 91.7 percent occupied. The JLL Capital Markets team was led by Gerard Sansosti, …

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rosemont-st-johns-Jacksonville
FloridaInvestment SalesNewsSoutheast

American Landmark Buys Rosemont St. Johns in Jacksonville

by Lynn Peisner

JACKSONVILLE, FLA. — American Landmark Apartments has acquired Rosemont St. Johns, a 420-unit property in Jacksonville that was built in 2007. The seller and sales price was not disclosed. Situated at 12310 Seacrest Lane, Rosemont St. Johns offers one-, two- and three-bedroom units and amenities such as a resort-style pool with a sundeck, a clubhouse with a resident lounge and entertainment kitchen, a 24-hour fitness center, outdoor grilling and picnic areas and a dog park. The company says the community will be rebranded. American Landmark is based in Tampa and …

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The-Greene
DevelopmentGeorgiaNewsSoutheast

RangeWater Breaks Ground on Suburban Atlanta Development

by Lynn Peisner

LAWRENCEVILLE, GA. — RangeWater Real Estate has broken ground on The Greene in Lawrenceville, about 30 miles northeast of Atlanta. The development is RangeWater’s seventh ground-up project in the Atlanta suburbs and its 28th in Georgia to date. Kinea Investimentos, a Sao Paulo-based investment firm, is a financial partner in The Greene. RangeWater’s internal construction division, RangeWater Construction, is leading the building efforts on the 21-acre site. The property’s 300 units will be offered in a unit mix that includes studios and one-, two- and three-bedroom floor plans. A resort-style …

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