NORTH CHARLESTON, S.C. — American Landmark Apartments has purchased Ingleside Apartments, a 304-unit community located at 9345 Blue House Rd. in North Charleston. The community was built in 2008. Amenities include a fitness center, pool, barbecue and picnic area, multipurpose clubhouse and dog park. The new owner plans to rebrand the property as Sage at Ingleside. The seller and sales price were not disclosed.
OCALA, FLA. — Marcus & Millichap (NYSE: MMI) has negotiated the sale of Paddock Apartments, an 85-unit community in the central Florida city of Ocala. Paddock Apartments is located at 1900 SW 31st Ave. and consists of 19 buildings. Apartments come in one- and two-bedroom layouts. Red Knight Ocala sold the property to Paddock Apartments 85 for $11.2 million. Jason Hague and Ned Roberts of Marcus & Millichap’s Tampa office marketed the asset on behalf of the seller and procured the buyer.
WINCHESTER, VA. — Walker & Dunlop has negotiated $24.3 million in federal Low-Income Housing Tax Credit (LIHTC) and Federal Historic Tax Credit (FHTC) equity for ZeroPak Apartments, a property located on 3.7 acres at 536 N Cameron St. in Winchester. ZeroPak Apartments is the adaptive reuse of a cold storage warehouse, which was originally built in 1902. The property now consists of one building with six designated sub-sections. Don Snyder and the Walker & Dunlop Affordable Equity team arranged the equity on behalf of the borrower, Zeropak Development LLC. Erick …
MIAMI — PMG and Greybrook have secured a $178 million loan for the refinancing of Society Wynwood, a 318-unit mixed-use asset located at 176 N.W. 25th St. in Miami’s Wynwood Arts District. Eastdil Secured arranged the loan through funds managed by Ares Management and Monarch Alternative Capital on behalf of the borrowers. Randy Barcelo of Stearns Weaver Miller advised PMG in the transaction. Society Wynwood rises 10 stories. The community offers 82,000 square feet of amenities, including a pool, theater lawn, outdoor gym and coworking spaces. The property also offers 50,210 …
BAY HARBOR ISLANDS, FLA. — Walker & Dunlop has brokered a $53.6 million loan for the construction of Clara Bay Harbor 100th, a 150-unit development in Bay Harbor Islands, 15 miles from Miami. Adam Schwartz, Aaron Appel, Jonathan Schwartz, Keith Kurland, Michael Ianno, Christopher de Raet and Marlon Robins of Walker & Dunlop secured the loan on behalf of the borrower. Located at 1145-1163 100th St., Clara Bay Harbor 100th is the second phase of a three-phase rental development by Clara Homes. Phase II will comprise 45 units. The developer …
ATLANTA — Columbia Residential, an affordable housing developer and property manager based in Atlanta, has selected Ken Clark for the role of Chief Operating Officer. In this position, Clark will provide executive oversight for the financial operations of the company’s business units, including accounting, finance, human resources and corporate compliance functions. He will work out of Columbia Residential’s corporate headquarters in Atlanta. Clark is a graduate of Morehouse College and earned an MBA in Management of Technology from Georgia Tech.
DAVENPORT, FLA. — JLL has arranged a $69.6 million loan for the refinancing for Phase I of Atlantica at Town Center, a community located at 1121 Loblolly Lane in the Orlando suburb of Davenport. Gregory Nalbandian, Kenny Cutler and Josh Odessky of JLL arranged the two-year, floating-rate bridge loan through Timbercreek Capital on behalf of the borrowers, Sovereign Properties and Invest Capital Group. Phase I of Atlantica at Town Center, which was delivered in December 2022, comprises 360 units. The community features one-, two- and three-bedroom units ranging from 683 …
HALLANDALE BEACH, FLA. — Miami-based 13th Floor Investments has secured an $83 million construction loan for Parks at Hallandale, a 398-unit project underway in Hallandale Beach, approximately 12 miles south of Fort Lauderdale, Florida. Development is slated to complete in 2026. CIBC Bank USA provided the loan. Scott Wadler and Alec Fox of Berkadia also arranged an undisclosed amount of preferred equity from Houston-based Marble Capital. Situated on 15.5 acres, Parks at Hallandale will offer studio, one-, two- and three-bedroom market-rate and workforce housing units. Planned amenities include a clubhouse, …
WASHINGTON, D.C. AND MCLEAN, VA. — Mortgage financing firms Fannie Mae and Freddie Mac plan to impose stricter rules for commercial property lenders and brokers, according to a report from the Wall Street Journal. The new guidelines are part of an emerging regulatory crackdown on fraud. Federal prosecutors and investigators have been increasingly pursuing fraudulent mortgage schemes since 2022. The rules may come into effect later this summer. Under the new rules, lenders would have to “independently verify” the financial information of potential borrowers and verify their source of funds …
SAVANNAH, GA. — Berkadia has brokered $24.4 million for the refinancing of River Walk Savannah, a 220-unit property in Savannah. Located at 101 Saint George Blvd., the garden-style community was built in 1988. The asset offers one- and two-bedroom units. Amenities include a clubhouse, gated access, pickleball courts, pet park, pool and fitness center. Mitch Sinberg, Scott Wadler, Brad Williamson, Matthew Robbins and Hugo Hernandez of Berkadia’s South Florida office arranged the financing on behalf of the sponsor, Vantage Point Acquisitions. Freddie Mac purchased the loan, which carries a five-year …
