Southeast

WildHorse Creek in Chesterfield, Missouri

Five Hurdles General Contractors Face in Today’s Dynamic Multifamily Arena

by Channing Hamilton August 11, 2023

— By Erick Hartzell, project director, Brinkmann Constructors — As the housing market generated uncertainty in a pandemic-driven economy, many individuals gravitated toward the stability and convenience of multifamily housing communities. Amid the rising demand, shifting consumer priorities urged developers and contractors to refocus on this subsector, allowing multifamily construction to boom. Regardless of the steady influx of multifamily developments, demand remains prominent. As contractors work to meet the demand, there are several significant challenges to be aware of, including a lack of qualified labor, a rise in material prices, …

August 11, 2023

Florida Investment Sales News Southeast

Southeast Property Group Acquires Coral Key Apartments in Port Richey, Florida

by Channing Hamilton August 9, 2023

PORT RICHEY, FLA. — Southeast Property Group has acquired an 80-unit property at 9920 Grace Dr. in Port Richey, a city in Pasco County, Florida. The new owner plans to renovate the community with updates to unit interiors, expansions of on-site amenities and common areas and overall beautification of the exterior curb appeal. The asset will be rebranded as Coral Key Apartments. According to Apartments.com, units come in two-bedroom floor plans.

August 9, 2023

Affordable Housing Investment Sales News Southeast Virginia

Greysteel Arranges Sale of Affordable Housing Property in Richmond, Virginia

by Channing Hamilton August 9, 2023

RICHMOND, VA. — Greysteel has brokered the sale of Fieldcrest, a 29-unit affordable community in Richmond. Fletcher Hultman and Henry Mathies of Greysteel’s National Affordable Housing team represented the seller, a joint venture between a local development group and April Housing, an affiliate of Blackstone. The buyer is Wincor Holdings, a recently formed private equity company. Fieldcrest was built in 2006 on a site adjacent to the Richmond Raceway. The property is subject to a Land Use Restrictive Agreement that restricts income and rent levels to 50 percent of the area …

August 9, 2023

An unnamed BTR community Parkland Homebuilders is developing in Centerville, Ga.

Build-to-Rent Development Finance Georgia News Southeast

Forman Capital Provides $22.5 Million to Construct BTR Community Near Warner Robins, Georgia

by Channing Hamilton August 7, 2023

CENTERVILLE, GA. — Forman Capital has provided a $22.5 million lot acquisition and construction loan to Parkland Homebuilders to develop a build-to-rent community in the Warner Robins suburb of Centerville. Parkland Homebuilders is an affiliate of Alpharetta-based Parkland Communities. The developer plans to construct the community in four phases. The first phase of the project will deliver 109 rental homes in two-, three- and four-bedroom layouts. At full build-out, the community will comprise a total of 317 units. A timeline for the project was not disclosed.

August 7, 2023

Amavi Sherrills Ford in Sherrills Ford, N.C.

Build-to-Rent Development Leasing & Marketing News North Carolina Southeast

Mill Creek Residential Opens Build-to-Rent Community in Sherrills Ford, North Carolina

by Channing Hamilton August 3, 2023

SHERRILLS FORD, N.C. — Mill Creek Residential has opened Amavi Sherrills Ford in Sherrils Ford, approximately 35 miles north of downtown Charlotte. The build-to-rent community offers 134 cottage-style units in two- and three-bedroom layouts. Units feature stainless steel appliances, pin lock entry systems, in-unit washers and dryers, hardwood-style flooring, quartz countertops and fenced-in yards. Amenities include a clubhouse, pool with a sundeck and cabana, a pet park and open green spaces. The first move-ins at Amavi Sherrills Ford are currently underway.

August 3, 2023

Kristi Nootens, managing director and co-head at CP Capital US

Industry Voices Midwest Northeast Operations People News Southeast Texas Western

Q&A with Kristi Nootens: Women Can Break Down Barriers in the Industry

by Channing Hamilton August 1, 2023

Kristi Nootens, managing director and co-head at CP Capital US, a real estate manager specializing in multifamily investments, sat down with Multifamily Affordable Housing Business (MAHB) to discuss the role of women in the industry and how the market may develop as we progress into the second half of 2023. On Women in Real Estate MAHB: Tell us about yourself and your journey. Nootens: My journey to commercial real estate started in large part because both of my parents worked in the industry. My dad was a mechanical engineer who spent a lot …

August 1, 2023

Development Florida Leasing & Marketing News Southeast

Terra Completes 460-Unit Natura Gardens Apartments in Miami

by Channing Hamilton July 31, 2023

MIAMI — South Florida-Based developer Terra has completed Natura Gardens, a garden-style community in Miami’s West Hialeah neighborhood. Leasing is now underway for the asset, with rents ranging from approximately $2,000 per month to $3,350 per month. Natura Gardens offers one-, two- and three-bedroom units. Amenities include a two-story clubhouse with a pool and spa, outdoor kitchen and grilling area, children’s playroom, lounge, fitness center, business center and a dog park. Natura Gardens was designed by Pascual, Perez, Kiliddjian Architecture. Interior design for the clubhouse and model units was conducted …

July 31, 2023

Florida Investment Sales News Southeast

Carter Funds Acquires Solis at Ballast Point in Tampa, Florida, for $57.5 Million

by Channing Hamilton July 31, 2023

TAMPA, FLA. — Carter Multifamily, a division of Carter Funds, has acquired Solis at Ballast Point for $57.5 million. Located at 6306 S. MacDill Avenue in Tampa, Solis at Ballast Point is a 276-unit garden-style property that was originally built in 1988. The asset offers 218,592 rentable square feet on a 21.5-acre site. Amenities include a pool, pet park and a private lake. Carter Multifamily plans to renovate the property with upgrades to community amenities and unit interiors, as well as exterior building improvements. The community will be rebranded to “Mode …

July 31, 2023

Investment Sales Louisiana News Southeast

RCMI Acquires Stockwell Landing Apartments in Bossier City, Louisiana

by Channing Hamilton July 28, 2023

BOSSIER CITY, LA. — RCMI has purchased Stockwell Landing Apartments, a complex in the Shreveport, Louisiana suburb of Bossier City. John Hamilton, Will Balthrope and Drew Garza of Institutional Property Advisors represented the seller and procured the buyer. Steve Greer is Marcus & Millichap’s broker of record in Louisiana. Built in 2005 on 11.5 acres, Stockwell Landing Apartments offers 241 units. According to Apartments.com, units come in one-, two- and three-bedroom floor plans.

July 28, 2023

Development Finance Georgia News Southeast

Rockefeller Group Begins Development of 1072 West Peachtree Mixed-Use Tower in Atlanta

by Channing Hamilton July 27, 2023

ATLANTA — Rockefeller Group has broken ground on 1072 West Peachtree, a mixed-use high-rise development in Midtown Atlanta. Sumitomo Mitsui Trust Bank Ltd. is providing a senior loan to Rockefeller Group to construct the project. A joint venture between Rockefeller, Japan-based Taisei USA LLC and Mitsubishi Estate New York is providing equity. TVS is the lead architect. The tower will offer more than 350 apartments, as well as 224,000 square feet of office space and 6,300 square feet of street-level retail space. According to Rockefeller Group, the tower is slated …

July 27, 2023

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