MIAMI, FLA. — Starwood Property Trust has provided $63.5 million for the refinancing of Fourteen Main Street Residences, a two-tower mixed-use development located at 1470 NW 36th St. in Miami. Charles Foschini, Christopher Apone, Lourdes Carranza-Alvarez and Shannon Wilson of Berkadia negotiated the financing on behalf of the sponsors, Neology Development Group and American Opportunity Zone Advisors. Once completed in the first quarter of 2025, Fourteen Main Street Residences will consist of 14-story building that houses 180 apartments, and a five-story building with 57 units. The community will offer studio, …
Southeast
Security is a top priority in the multifamily industry. Monitoring and controlling access to a property protects owners and their residents from the impacts of violent crime, theft, vandalism and trespassing. The benefits of an effective security, monitoring and access system run deep. “Access control is not just about security,” says Roger Solomon, a senior associate at Trio Advisory Group. The company offers consulting services on access control, video surveillance and other technologies for commercial real estate properties. “Access control is also about ensuring convenience for residents and staff, enhancing …
APOLLO BEACH, FLA. — Scottsdale, Arizona-based Taylor Morrison has purchased a 25.7-acre development site located within the 2,734-acre Waterset master-planned community in Apollo Beach, roughly 18 miles south of Tampa, Florida. Matt Mitchell and Chris Burtner of Berkadia North and Central Florida arranged the deal on behalf of the seller, Brookfield Residential, which is based in Costa Mesa, California. Taylor Morrison plans to develop a build-to-rent (BTR) community on the site. The asset will feature a mix of one-, two- and three-bedroom single-family rental units, with each residence including a …
ATLANTA — When considering a single-family, build-to-rent (BTR) development or acquisition, the main priority of the developer or investor is to focus on finding a place where people want to live, said Zach Persky, vice president of acquisitions for Quinn Residences. Access to jobs, retail corridors and good school districts are all important factors for potential residents. Persky was one of the speakers on the BTR panel at the 15th annual InterFace Multifamily Southeast conference, which took place Wednesday, Dec. 4 at the Cobb Galleria Centre in Atlanta. Kyle Palmer, …
MIAMI — Kushner Cos. has acquired The Hamilton, a 276-unit community in the Edgewater neighborhood of Miami. Apartment Investment and Management Co. (Aimco) sold the asset for $190 million. Located at 555 N.E. 34th St., the property is situated less than three miles north of downtown Miami and five miles from the city’s Brickell financial district. Originally built in 1984, The Hamilton offers one-, two-, three-, four- and five-bedroom units. The average apartment size is 1,373 square feet. Each unit includes a terrace, which average 326 square feet, with some larger …
ATLANTA — There is nothing wrong with the new interest rate environment that currently governs capital markets activity in commercial real estate, and borrowers just need to adjust their expectations, put them into historical context and get back to making deals. This is the view of at least a couple veteran lenders who spoke at the InterFace Multifamily Southeast conference on Dec. 4 at the Cobb Galleria Centre in Atlanta. The event is now in its 15th year and continues to attract hundreds of multifamily developers, investors and lenders from …
SWEETWATER, FLA. — Terra has obtained a $170 million construction loan for Upland Park, a $1 billion mixed-use development in Sweetwater, about 15 miles west of downtown Miami. SCALE Lending, the debt financing arm of Slate Property Group, was the lead lender on the construction loan. Terra is converting Miami-Dade County’s Dolphin Park-and-Ride/Transit Terminal Facility into a multimodal hub that will feature a transit station, residences, retail space and commercial uses on a 47-acre site near Dolphin Mall. The developer has formed a public-private partnership with Miami-Dade County for the …
Speakers on the investment sales panel at the annual InterFace Multifamily Southeast conference were overall bullish on the sector’s investment prospects in the new year. The event, now in its 15th year, was held on Wednesday, Dec. 4 at the Cobb Galleria Centre in Atlanta. To kick off the panel, moderator Paul Berry, president and COO of Mesa Capital Partners, discussed what a recovery could look like in terms of investment sales volume. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real …
UNION CITY, GA. — Woodfield Development has completed Union Green, a 295-unit project located at 4980 Stonewall Tell Road in Union City, about 18 miles southwest of Atlanta. The community offers a mix of one-, two- and three-bedroom units, which average 741 to 1,573 square feet. Amenities include a pool with a sun lounge area, club lounge, demonstration kitchen, outdoor social commons with a grilling area, fitness studio and sky lounge. The development team for Union Green included general contractor CBG Building Co., architect of record Fifth Dimension Architecture and …
VIRGINIA BEACH, VA. — Barry Tomlin has returned to The Breeden Co. as vice president of customer service and marketing. Tomlin previously served in various leadership capacities at The Breeden Co. He has come out of retirement in order to accept the position. As vice president, he will develop and implement strategies to enhance customer satisfaction and engagement. Tomlin will also oversee The Breeden Co.’s marketing initiatives.