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 …
CHARLOTTESVILLE, VA. — Advantage Capital has closed the financing for the second phase of Kindlewood, a $68 million affordable housing redevelopment and expansion project in Charlottesville. The development team, which broke ground on phase II last month, includes Piedmont Housing Alliance and National Housing Trust. Phase II of Kindlewood will consist of 100 apartments, half of which are replacement units for existing residents. The rest will be new affordable housing units. The development team expects to deliver the second phase in fall 2026. The last tranche of financing was $9.6 …
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Webinar: Resident Retention at Risk — How to Prevent Quiet Leaving
The Feb. 25 webinar “Resident Retention at Risk — How to Prevent Quiet Leaving,” sponsored by Opiniion, brought together industry experts to discuss the most pressing challenges in multifamily and student housing and their strategies to improve resident satisfaction and retention. This one-hour discussion explored key factors influencing move-outs, including communication gaps, maintenance concerns and lease renewal hesitations. Speakers shared insights on effective property management strategies, community-building initiatives and engagement tactics that drive resident loyalty. The session highlighted best practices for feedback collection, strategic development and the role of online …