DURHAM, N.C. — NewPoint Real Estate Capital has arranged a $58 million Freddie Mac conventional multifamily loan to refinance a community in North Carolina’s Research Triangle area. NewPoint’s Mike Ortlip originated the loan, which features a five-year, fixed-rate term with full interest-only payments. Situated just outside of Durham, the asset was developed in two phases and offers one-, two-, and three-bedroom units. Amenities include a pool, a fitness center, game room, business center, playground, pet park, grilling areas and a multi-sports court.
SHREVEPORT, LA. — Marcus & Millichap has arranged the sale of Olde Salem Village, a 200-unit community in Shreveport. Continental Foundation Inc. sold the asset to an entity doing business as Thara Properties LLC for an undisclosed price. John Hamilton, Bryan Sisk and David Dorris of Marcus & Millichap represented the seller in the deal. Olde Salem Village was built in 1984 on 14.5 acres. Amenities include a clubhouse, pool and a basketball/tennis court.
WILMINGTON, N.C. — Woodfield Development has opened The Cordelia, a 426-unit community on the coast of Wilmington, for leasing. The property offers units in studio, one-, two- and three-bedroom layouts. Amenities include a pool with cabanas, indoor and outdoor fitness center, dog park and dog spa, co-working space, game room, pickleball courts, a community walking trail, resident lounge, gas grills and outdoor dining spaces. Shelton Taylor was the interior designer for the project. According to Woodfield Development, The Cordelia was named after a mythical daughter of the sea to pay …
SANTA ROSA BEACH, FLA. — Olympus Property has acquired Primrose, a 288-unit community in Santa Rosa Beach. The seller and sales price were not disclosed. Built in 2022, Primrose offers one-, two- and three-bedroom apartments and townhomes. Units feature quartz countertops, tile backsplashes, wood-style flooring and full-size washers and dryers. Amenities include two pools with cabanas, a poolside entertainment deck, gaming lawn, cardio and flex gym and a resident lounge. The property to located in proximity to several of Florida’s Emerald Coast key attractions, including Grand Boulevard at Sandestin, 30A …
TAMPA, FLA. — Berkadia has arranged the sale of Berkshires at Citrus Park, a 264-unit community in Tampa’s Citrus Park submarket. Berkshire Residential sold the property to Nuveen Real Estate for an undisclosed price. Matt Mitchell, Jason Stanton and Bailey Smith of Berkadia represented the seller in the deal. Situated at 6201 Gunn Highway, Berkshires at Citrus Park offers amenities such as a pool with a sun deck, fitness and cardio center, clubhouse with business center, gated access, lake with fountain and fishing pier, two dog parks and a picnic …
TAMPA, FLA. — Mill Creek Residential has begun development for Modera Encore, a mixed-use community in downtown Tampa. Situated at 1211 Ray Charles Blvd., Modera Encore will feature 304 apartments and 8,000 square feet of ground-floor retail space. Units will come in one-, two- and three-bedroom floor plans. Amenities will include a pool, resident clubhouse, game room, courtyards, pet spa, conference rooms, co-working space, coffee bar and a fitness center. First move-ins are anticipated for the spring of 2025.
NASHVILLE, TENN. — JLL Capital Markets has arranged the $101.2 million refinancing for Kenect Nashville, a 420-unit high-rise community in Nashville’s Midtown neighborhood. The borrower, Akara Partners, secured the loan through MF1. Jesse Wright, Kenny Cutler, Brian Dawson, Joshua Odessky and J.J. Hovenden led the JLL Capital Markets Debt Advisory team. Sitiated at 800 19th Ave. South, Kenect Nashville is located in proximity to Vanderbilt University, Belmont University and Nashville’s Music Row historic district, which is considered the heart of the city’s entertainment industry. According to Apartments.com, the property was built …
DURHAM, N.C. — Camden Property Trust has opened Camden Durham, a 420-unit community located at 441 Dillard St. in downtown Durham. The complex offers one-, two- and three-bedroom apartments, as well as 14 one- and two-bedroom townhome-style units. Amenities include a pool, 24-hour athletic club, resident lounge and community workspace, barbecue grills and a lawn for gatherings. The property also features 5,945 square feet of ground-floor retail space, which is currently available for lease.
MIAMI — Miami-Dade County, in partnership with locally-based developer Related Group, has opened Robert King High and Paseo del Rio, two affordable housing communities in Miami’s Little Havana neighborhood. The two properties serve as the fourth and fifth phases of the River Parc master plan, a $1 billion mixed-income redevelopment project. At full build-out, River Parc will offer 2,500 affordable, workforce and market-rate apartment units. Residents will have access to the Robert King High Community Center, a one-story clubhouse adjacent to Robert King High, as well as 15,000 square feet of commercial …
WILDWOOD, FLA. — JLL Capital Markets has arranged $32.7 million in LP equity and non-recourse construction financing for the development of Townhomes at Powell, a 132-unit build-to-rent community in the Wildwood suburb of The Villages, Florida. JLL’s Samy Cohen, Alberto Dichi and Alan Benenson worked on behalf of the borrower, Agador Spartacus Development, to secure the financing. Max La Cava, Shane Ciacci and Justin Sosa led the JLL Capital Markets Capital Advisory team. The property will include 92 two-story flats and 36 townhomes. Units come in one-, two- and three-bedroom layouts …