Southeast

Waterside-at-Rice-Hope-Savannah
Build-to-RentGeorgiaLeasing & MarketingNewsSoutheast

ARK Homes for Rent Opens Leasing at BTR Development Near Savannah

by Lynn Peisner

PORT WENTWORTH, GA. — Build-to-rent developer ARK Homes For Rent has begun leasing Waterside at Rice Hope, a newly completed community 13 miles north of Savannah, Ga. Asking rents at the 103-unit townhome community range from $1,999 to $2,024, according to the property website. Units, which vary in size, have three bedrooms and two-and-a-half bathrooms, smart home technology and attached garages. Amenities include a resort-style pool, splash park and walking trails as well as a nearby 35-acre lake with kayaking, paddleboarding and fishing. Residents also have access to a clubhouse …

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Developers-Carolinas-Multifamily
Conference CoverageDevelopmentFeaturesFinanceSoutheast

Lenders Are Back in Action for Multifamily Development Deals, Says InterFace Panel

by Lynn Peisner

CHARLOTTE, N.C. — In its first-quarter report, property management research firm RealPage stated that the “supply wave for multifamily was cresting” as the U.S. apartment sector set a record in terms of units absorbed (138,302), outpacing deliveries (116,092). Those figures are a sharp contrast from the first quarter of 2024 when deliveries (135,652) outstripped absorption (103,826). Will Block, partner and co-founder of Olympus Development Co., said that the flip in the U.S. apartment market’s supply-demand dynamic the past 12 months has made all the difference in terms of lenders’ perception. Editor’s …

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Sunlake-North
BerkadiaBuild-to-RentDevelopmentFloridaInvestment SalesNewsSoutheast

Maymont Homes, Dinerstein to Develop BTR Project Near Tampa

by Lynn Peisner

LAND O’LAKES, FLA. — Berkadia has arranged the sale of a 28.5-acre parcel. Brookfield Residential Land was the seller, and Maymont Homes was the buyer. The site, located in the master-planned community of Bexley 30 miles north of Tampa, is entitled for low-density multifamily. Maymont will partner with Dinerstein Cos. to develop a 250-unit build-to-rent (BTR) community on the site. The project will be complete by the fourth quarter of 2026. The unnamed project will include a mix of two- and three-bedroom residences featuring private yards, attached garages and access …

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2000-Biscayne-Miami
FinanceFloridaNewsSoutheast

Kushner, PTM Secure $87.3 Million Refinancing Loan for Miami Asset

by Lynn Peisner

MIAMI — Walker & Dunlop has arranged an $87.3 million loan on behalf of Kushner Companies and PTM Partners to retire construction-phase debt on 2000 Biscayne in Miami. The property, located on Biscayne Boulevard, is a 36-story residential tower featuring 420 apartments. The joint venture development team completed construction in October 2024. The W&D New York Capital Markets team led by Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Stepniewski, Jordan Casella, Christopher de Raet and Stanley Cayre were advisors to the borrowers. Corebridge Financial provided the capital for …

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Pointe-at-Carrollwood-Tampa
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $38.3 Million Refinancing for Beacon Realty Group

by Lynn Peisner

TAMPA, FLA. — Berkadia has arranged approximately $38.3 million in debt and equity for the refinancing of Pointe at Carrollwood owned by Miami-based Beacon Realty Group. Beacon bought the 224-unit Tampa asset in 2022 as a value-add acquisition and has since invested about $3.6 million in capital improvements. The firm will use the financing to retire existing acquisition debt. The property is currently 95 percent occupied. Berkadia arranged a $29.9 million, five-year fixed-rate Freddie Mac loan. In addition, Miami-based Atlantic Pacific Companies, a privately owned real estate firm, provided a …

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Calabash
Build-to-RentDevelopmentNewsNorth CarolinaSoutheast

EYC and Capstone Building Corp. Complete North Carolina BTR Project

by Lynn Peisner

CALABASH, N.C. — General contractor Capstone Building Corp. has completed building Heartsease at Calabash, a $40 million build-to-rent (BTR) project developed by EYC Cos. The development includes 158 cottages on 40 acres. The floor plans are offered as duplexes with one or two bedrooms or standalone homes with one, two or three bedrooms. Calabash is about 25 miles north of Myrtle Beach. Units feature 10‑foot ceilings, private porches and yards, garages or carports, laundry rooms with washers and dryers and valet trash service. Amenities include a clubhouse with full kitchen, …

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The-Indigo-Apartments-Clearwater
Affordable HousingBerkadiaDevelopmentFloridaNewsSoutheast

Sunrise Affordable Housing Locks in Financing to Convert Clearwater Market-Rate Property

by Lynn Peisner

CLEARWATER, FLA. — Sunrise Affordable Housing Group has arranged financing to convert The Indigo Apartments in Clearwater from a market-rate to an affordable community. Part of the financing includes a $20.3 million HUD loan arranged by Berkadia. Other sources of financing include federal Low-Income Housing Tax Credit (LIHTC) equity from R4 Capital, two loans from the City of Clearwater and land trust equity from Pinellas County. Following a renovation, the 208-unit tower will be converted from market-rate housing into affordable housing for families earning between 30 and 80 percent of …

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Addison-Landing-Jacksonville
BerkadiaFloridaInvestment SalesNewsSoutheast

Berkadia Arranges $44.8 Million Jacksonville Sale

by Lynn Peisner

JACKSONVILLE, FLA. — Berkadia has arranged the sale of Addison Landing in Jacksonville. WRH Realty out of St. Petersburg, Florida, sold the 289-unit community to Tampa-based Argyle Real Estate Capital. According to public records, the asset traded for approximately $44.8 million. Senior Director Greg Rainey and his team at Berkadia Central & North Florida represented the seller. Matt Robbins, Mitch Sinberg, Brad Williamson, Scott Wadler and Hugo Hernandez of Berkadia Boca Raton and Miami lined up financing for the buyers, which included a $31.3 million, Freddie Mac-backed loan with a …

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Link-at-Boca
DevelopmentFloridaNewsSoutheast

13th Floor Investments to Build Boca Raton TOD with 340 Units

by Lynn Peisner

BOCA RATON — South Florida-based developer 13th Floor Investments will develop Link at Boca, a multifamily transit-oriented development adjacent to the Boca Raton Tri-Rail station. The Tri-Rail is a commuter train that serves the Greater Miami and Palm Beach areas. The developer will complete construction by summer 2027. Link at Boca will consist of eight stories containing 340 market-rate and workforce apartments as well as 24,000 square feet of retail. Rent restrictions on the workforce units were not disclosed. Comras Co. is leading retail leasing. The project is a public-private …

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Birmingham, Alabama
AlabamaInvestment SalesMarket ReportsSoutheast

Birmingham, the Southeast’s Quiet Contender, Steps into the Spotlight

by Lynn Peisner

By Chad Thomas Hagwood The most successful investors in Birmingham are those who have allowed the economy’s natural forces to do the work for them, counting on the city’s steady growth to raise rents and elevate operating income. Until about two decades ago, The Magic City was a sleeper market reserved for local multifamily investors, but the word has long since gotten out. Large, sophisticated institutions like Blackstone and Starwood Capital are now active participants. Birmingham produces such stable results because it offers an attractive quality of life at a …

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