Southeast

Ocean Shores Apartments in D’Iberville, Mississippi
Affordable HousingFinanceMississippiNewsSoutheast

Red Oak Capital Holdings Provides $7.7 Million in Financing for Ocean Shores Apartments in D’Iberville, Mississippi

by Channing Hamilton

D’IBERVILLE, MISS. — Red Oak Capital Holdings LLC has provided a $7.7 million loan for Ocean Shores Apartments, a 128-unit affordable housing asset in D’Iberville. Craig Hall of CBRE brought the opportunity to Red Oak Capital. Jeff Joyner, Hermann Wendorff and Jesus Martinez of Red Oak Capital originated the loan. The fixed-rate loan is interest-only and carries a two-year term, with an all-in interest rate of 9.5 percent. The borrower, an entity doing business as Ocean Shores Property Owner LLC, will use the loan to acquire the property. The funds …

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Pier 19 Residences & Marina in Miami
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Brokers $54.5 Million Refinancing for Pier 19 Residences & Marina in Miami

by Channing Hamilton

MIAMI — Berkadia has arranged a $54.5 million loan for the refinancing of Pier 19 Residences & Marina, a 199-unit high-rise community located along the Miami River in downtown Miami. Neology Development was the borrower. Charles Foschini, Christopher Apone and Shannon Wilson of Berkadia’s Miami office secured the five-year, fixed-rate loan through Apollo. Pier 19 Residences & Marina was built in 2011 as condominiums. Neology Development acquired the asset in 2018 and converted the property into apartments. Monthly rates range from $2,300 to $4,500. Pier 19 Residences & Marina features …

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Investment SalesNewsSoutheastTennessee

Matthews Brokers $31 Million Sale of Victory Place Townhomes in Clarksville, Tennessee

by Channing Hamilton

CLARKSVILLE, TENN. — Matthews Real Estate Investment Services has negotiated the sale of Victory Place Townhomes, a 194-unit property located at 401 Victory Road in Clarksville, about 54 miles northwest of Nashville. BridgeGaps purchased the asset in a 1031 exchange with the seller, Singletary Construction. The community traded hands for $31 million. Austin Tomaiko and Austin Graham of Matthews represented the seller in the deal. Victory Place Townhomes was developed by Singletary Construction in 2021. The property features amenities such as a pool, fitness center, leasing office and dog parks. …

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Prose Lagrange in LaGrange, Georgia
DevelopmentGeorgiaNewsSoutheast

Alliance Residential Opens 315-Unit Prose Lagrange in LaGrange, Georgia

by Channing Hamilton

LAGRANGE, GA. — Alliance Residential Co. has opened Prose LaGrange, a 315-unit property in LaGrange, approximately 68 miles southwest of Atlanta. Located at 1900 Vernon Street, Prose LaGrange includes one- and two-bedroom units averaging 997 square feet. Amenities include a pool, clubhouse with entertainment kitchen, business center with co-working spaces, pet park, fitness center and mailroom with Luxor package lockers. The property is situated adjacent to WellStar West Georgia Medical Center and the Merganser Shopping Center, which includes a Publix, Starbucks and Chick-fil-A.

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Build-to-RentDevelopmentNewsNorth CarolinaSoutheast

Redwood Living Underway on 154-Unit Build-to-Rent Community in Hickory, North Carolina

by Channing Hamilton

HICKORY, N.C. — Ohio-based developer Redwood Living is underway on Redwood Hickory, a 154-unit build-to-rent community in Hickory, 59 miles northwest of Charlotte. Residences will come in two-bedroom layouts ranging from 1,294 to 1,381 square feet. Units will feature vaulted ceilings, bonus living space, attached two-car garages, washer and dryer hookups, full-size appliances and patios. Monthly rents start at $2,099 per month. A construction timeline for the project was not disclosed.

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Kenyon at Cross Creek in Central, South Carolina
Affordable HousingDevelopmentNewsSouth CarolinaSoutheast

Gateway Opens $40 Million Affordable Housing Project in Central, South Carolina

by Channing Hamilton

CENTRAL, S.C. — Gateway Development Corp. has opened Kenyon at Cross Creek, a $40 million affordable housing development in Central. Gateway partnered with Synovus Bank (construction lender and federal tax credit equity investor), Monarch Private Capital (state credit investor) and Bellwether Enterprises (permanent lender), to complete the project. The Kenyon at Cross Creek was one of the first non-metro communities developed with the South Carolina state housing credit, according to Gateway. The project consists of 168 units across seven three-story residential buildings. Units come in one-, two- and three-bedroom layouts …

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Ellison Cool Springs in Franklin, Tennessee
DevelopmentNewsSoutheastTennessee

Flournoy Development Group to Develop 34-Acre Mixed-Use Project in Franklin, Tennessee

by Channing Hamilton

FRANKLIN, TENN. — Flournoy Development Group will develop Ellison Cool Springs, a 34-acre mixed-use community in Franklin, approximately 20 miles south of Nashville. McShane Construction is the general contractor on the development. Dynamik Design is the architect. The project team expects to deliver Ellison Cool Springs in August 2026. Ellison Cool Springs will offer 332 apartments and 15 commercial units across three four-story buildings. Apartments will come in one-, two- and three-bedroom layouts, with select two-story, live-work units. Planned amenities include a pool, clubroom, fitness center, recording studio, hospitality bar, …

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Speakers at the Investment Sales panel at InterFace Affordable Housing Southeast
Affordable HousingFeaturesGeorgiaInvestment SalesSoutheast

Volatility Disrupts Investment Sales Activity in Affordable Housing Market, Says InterFace Panel

by Channing Hamilton

ATLANTA — The investment sales market for the affordable housing sector remains muted for one overarching reason: volatility. Cory Sams, executive managing director of GREA (Global Real Estate Advisors), said that a lack of certainty, especially in the capital markets, is giving buyers and sellers of affordable housing properties pause. “The worst thing for a deal is [interest rates] constantly moving around,” she said. “When they were running up and down, every deal fell apart.” Doug Childers, senior managing director of JLL, estimated that affordable housing transaction volume fell 40 …

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GeorgiaInvestment SalesNewsSoutheast

Cushman & Wakefield Arrange Sale of 362-Unit The Flats at Westshore in Cumming, Georgia

by Channing Hamilton

CUMMING, GA. — Cushman & Wakefield have brokered the sale of The Flats at Westshore, a 362-unit community in the Atlanta suburb of Cumming. The Flats at Westshore was built in 2022 and is situated within the Westshore Town Center, a 20,000-square-foot retail center. Weinstein Properties acquired the asset from Atlantic Residential for an undisclosed price. Robert Stickel, Alex Brown, Ashlyn Warren, Michael Kay and Sim Patrick of Cushman & Wakefield represented the seller in the transaction.

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Gateway at Rossville in Rossville, Georgia
Affordable HousingDevelopmentGeorgiaNewsSoutheast

Gateway Opens 156-Unit Workforce Housing Community in Rossville, Georgia

by Channing Hamilton

ROSSVILLE, GA. — Gateway Development Corp., an affiliate of Gateway Management Co., have opened Gateway at Rossville, a 156-unit workforce housing community located in the Chattanooga, Tennessee suburb of Rossville. Arlington Construction served as the general contractor. Valdosta, Georgia-based Studio 8 Design was the architect. Situated on 18 acres, Gateway at Rossville is available to households earning at or below 60 percent of the area median income. Amenities include a clubhouse with gathering spaces, pool, fitness center, computer room, playground and covered pavilion with a picnic area. The construction of …

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