ESTERO, FLA. — ECI group has purchased Longitude 81 Apartments, a townhome-style community in the south Florida village of Estero, for an undisclosed price. The property was built in 2016 and comprises 260 units across 11 buildings. Units come in studio, one-, two- and three-bedroom layouts. Amenities include a clubhouse, pool, fitness center, pet play area and car wash area. The 18-acre community will be rebranded as Waterline Estero.
JACKSONVILLE, FLA. — NAI Hallmark has selected Buck Poderski as Vice President of Multifamily Investment Sales. In this role, Poderski will direct the company’s growth outside of Jacksonville into markets across North and Central Florida. Prior to joining NAI Hallmark, Buck served as a Managing Director at GREA in Dallas, where he focused exclusively on value-add multifamily sales. He earned two bachelor’s degrees from the University of North Florida in Economics and Finance.
RICHMOND, VA. — RailField has purchased Millspring Commons Apartments, a 159-unit townhome-style community in Richmond, for an undisclosed price. Amenities at the community include a clubhouse with a fitness center, pool, outdoor exercise area, outdoor kitchen and grilling area, playground and dog park. RailField purchased the property on behalf of its RLM Preservation Fund, which focuses on preserving affordable and workforce housing. The firm plans to renovate both the common areas and apartment interiors.
MIAMI, FLA. — CBRE has added a multifamily investment sales team to expand the firm’s presence in Central and North Florida. The team joins CBRE from Cushman Wakefield, and comprises Denny St. Romain (vice chairman), Jubeen Vaghefi (vice chairman), Charles Crapse (senior vice president), Alex Kupp (first vice president) and Scott Peek (first vice president). The team — which will be led by St. Romain and Vaghefi — will focus on institutional multifamily sales, land development sales, structured debt and equity finance and private capital sales.
HOLLYWOOD, FLA. — FundRebel LLC, a real estate investment platform based in New York City, has entered into contract to acquire Nine Hollywood for $67 million. Nine Hollywood is a 36,000-square-foot mixed-use development in the Miami, Florida suburb of Hollywood. The property includes 204 rental units in studio, one- and two-bedroom layouts, as well as three levels of integrated parking and 7,000 square feet of ground-floor retail space. Amenities include a pool, a fitness center and business suites. The asset is currently under construction and is set for completion in the …
MIAMI, FLA. — Lest Group and Opportunity Fundo de Investimento Imobiliário (Opportunity) have formed a new real estate development company, LORE Development Group (LORE). Leste Group is a global independent alternative investment manager. Opportunity is a private investment firm based in Rio de Janeiro, Brazil. The first property to be developed by LORE is a 500-unit community trendy Brickell district. The $500 million project will comprise 442,000 square feet, including 2,000 square feet of ground floor retail. The firm plans to construct more than $1 billion in multifamily projects over …
WESLEY CHAPEL, FLA. — ResiBuilt has received $38 million in construction financing for GroveParc Townhomes, a 190-unit, build-to-rent development located in the Tampa, Florida suburb of Wesley Chapel. Max La Cava, Matthew Putterman and Drew Jennewein of JLL Capital Markets secured the loan through a regional bank. GroveParc Townhomes will offer three- and four-bedroom townhome units with garages and backyards. Amenities include gated access, a clubhouse, pool, fitness center, playground dog park, pickleball courts and a lakeside trail. The project is expected to be completed in January 2025.
MOBILE, ALA. — L2 Investments has acquired $14.7 million to refinance two properties in Mobile comprising a total of 334 units. Alex Jaffa and Michael Muller of Eastern Union brokered the transaction. The lender was Arbor Realty Trust. Eastern Union arranged a $9.2 million loan for the refinancing of Linx Plaza Apartments, which comprises 214 units across 16 buildings on a 109,000-square-foot site. Linx Plaza Apartments was constructed in 1976. Eastern Union also arranged $5.5 million to refinance Plantation Apartments, a 120-unit community that was built in 1977. Plantation Apartments …
The construction of new build-to-rent (BTR) homes hit a record in 2022, with more than 14,500 houses completed, according to a RentCafe analysis of Yardi Matrix data. This is a 47 percent increase in deliveries from 2021. Now, approximately 44,700 BTR homes are under construction across America, triple the number of new homes completed in 2022. Prior to 2020, RentCafe notes, only about 6,000 BTR units were completed annually. RentCafe cited data from the firm’s sister company, Yardi Matrix. The data includes properties defined as single-family homes for rent that are in build-to-rent, …
OXFORD, FLA. — Blue Vista Capital Management has acquired The Keys at Wildwood, a BTR development situated on 19 acres in Oxford, which is in central Florida. The project is currently being developed in partnership with Belleair Development and Mize & Sefair Development. The Keys at Wildwood will offer 190 single-story, three-bedroom units including features such as in-unit laundry, private patios, and dedicated parking spots. The new community is the sixth built-to-rent community Blue Vista has acquired or developed since 2020.
