Southeast

The Reserve at Sugarloaf in Duluth, Georgia.

Cushman & Wakefield Brokers $91 Million Sale of Reserve at Sugarloaf Apartments Near Atlanta

by Channing Hamilton June 15, 2023

DULUTH, GA. — Cushman & Wakefield has brokered the sale of The Reserve at Sugarloaf in the Atlanta suburb of Duluth. Olen Properties acquired the asset for $91 million. Robert Stickel, Alex Brown, Ashlyn Warren and Wesley Lacefield of Cushman & Wakefield arranged the transaction on behalf of the seller, an institutional client of New York Life Real Estate Investors. Built in 2002, The Reserve at Sugarloaf offers 333 units, as well as amenities such as an indoor-outdoor fitness center, pool, pet park, internet café and car care center.

June 15, 2023

A 3D render of Atlantica at Daytona in Daytona, Florida.

Development Finance Florida News Southeast

Joint Venture Secures $77 Million to Construct Atlantica at Daytona in Daytona Beach, Florida

by Channing Hamilton June 13, 2023

DAYTONA BEACH, FLA. — A joint venture between Sovereign Properties and Invest Capital Group has secured $77 million in construction financing to develop Atlantica at Daytona, a garden-style community in Daytona Beach. Gregory Nalbandian, Jesse Wright and Joshua Odessky of JLL Capital Markets arranged the three-year, 75 percent loan to cost, construction loan through Broadshore Capital Partners. Atlantica at Daytona will offer 341 one-, two- and three-bedroom units, and is slated for completion in October 2024. Amenities will include a pool, BBQ grill station, outdoor summer kitchen, dog park, co-working space, game …

June 13, 2023

Berkadia Berkadia Feature Build-to-Rent Content Partner Development Features Industry Content Leasing & Marketing Midwest Northeast Southeast Texas Western

Single-Family Rental, Build-to-Rent Sector Increases Supply Volume, Attracts Institutional Capital

by Sarah Daniels June 12, 2023

By Jeff Coles, Berkadia Over the last 15 years, even during the Great Recession, single-family rentals continued to deliver excellent returns through appreciation and rental income. As demand for the sector has increased significantly, driven by changing migration patterns, many investors are shifting their investment strategies to include single-family rental/build-to-rent homes (SFR/BTR), also referred to as built for rent (BFR) houses. Development and Interest in SFR/BTR Despite recessionary rumors, development is continuing, often undertaken by some of the leading developers in the for-sale single-family market. Also, institutional investors have shown …

June 12, 2023

Investment Sales News North Carolina Southeast

Carter Exchange Sells Station at Poplar Tent in Concord, North Carolina

by Channing Hamilton June 6, 2023

CONCORD, N.C. — Carter Exchange Fund Management Co. has sold Station at Poplar Tent, a garden-style community in the Charlotte, North Carolina suburb of Concord, for $74.7 million. The buyer was not disclosed. Carter Exchange took ownership of the property in 2020. During the approximately 2.7-year hold period, the firm renovated unit interiors at the property with features such as smart home packages and updated flooring, as well as installed parcel lockers in the clubhouse. Station at Poplar Tent was 94.9 percent occupied at the time of sale.

June 6, 2023

A 3D render of The River Rapids in Miami, Florida

Development Florida Investment Sales News Southeast

ROVR Development Buys $23.5 Million Site for Development of 10.2-Acre Community in Miami, Florida

by Channing Hamilton June 6, 2023

MIAMI, FLA. — ROVR Development has acquired 6.2 acres in Miami for $23.5 million to build The River Rapids, a 1,600-unit community in Miami. The development site for the property now comprises 10.2 acres. ROVR Development expects to complete The River Rapids in five phases. The first two phases of the project, Tides and Moorings, will deliver 600 units across two buildings. Tides and Moorings are currently under permit approval to move forward on construction. The next three phases will deliver an additional 1,000 units. A development timeline has not …

June 6, 2023

A 3D render of EDEN at Tradition in Port St. Lucie, Florida

Development Finance Florida News Southeast

EDEN Living Secures Joint Venture Equity for 214-Unit BTR Development in Port St. Lucie, Florida

by Channing Hamilton June 5, 2023

PORT ST. LUCIE, FLA. — EDEN Living has received joint venture equity for EDEN at Tradition, a 214-unit build-to-rent development project located in Port St. Lucie. Max La Cava, Kenny Cutler and Shane Ciacci of JLL Capital Markets JLL worked on behalf of EDEN Living to secure the joint venture equity. The community is currently slated for completion in 2025, and will feature two and three-bedroom townhome units with attached garages and private backyards. EDEN at Tradition is part of Tradition, an 8,300-acre master-planned development that includes office, retail, single-family, …

June 5, 2023

The Station at Savannah Quarters in Pooler, Georgia

Georgia Investment Sales News Southeast

Stoneweg US Acquires 244-Unit The Station at Savannah Quarters in Savannah, Georgia Suburb

by Channing Hamilton May 26, 2023

POOLER, GA. — Stoneweg US has acquired The Station at Savannah Quarters, a 244-unit asset located in the Savannah, Georgia suburb of Pooler. Built by Tynes Development 2019, The Station at Savannah Quarters comprises three residential buildings, a leasing center, a clubhouse, four carriage buildings and 34 garage stalls. Units come in one-, two- and three-bedroom floor plans. Stoneweg US plans to renovate the property through an ESG and value-add program, including EV chargers, installation of solar panels to the clubhouse, new pool cabanas and turf installation for cornhole toss. The …

May 26, 2023

Abberly Royal Creek in Fuquay-Varina, North Carolina

Development News North Carolina Southeast

HHHunt Breaks Ground On $62.7 Million Abberly Royal Creek Near Raleigh, North Carolina

by Channing Hamilton May 24, 2023

FUQUAY-VARINA, N.C. — HHHunt Corp. has broken ground on Abberly Royal Creek, a 250-unit community in the Raleigh, North Carolina suburb of Fuquay-Varina. Abberly Royal Creek will offer one-, two- and three-bedroom floor plans, as well as amenities such as a fitness center, a business lounge, a pool with a tanning shelf, dog park, pet spa and smart home technology from ADT Security in every unit. Each building will rise four stories. HHHunt’s investment in the project is expected to total $62.7 million.

May 24, 2023

Development Florida News Southeast

FaverGray Breaks Ground on The Enclave at Deer Moss Creek in Niceville, Florida

by Channing Hamilton May 24, 2023

NICEVILLE, FLA. — FaverGray has begun development of The Enclave at Deer Moss Creek, a 303-unit community in Niceville, 10 miles north of Destin, Florida. The Enclave at Deer Moss Creek comprises eleven buildings across 18 acres. Amenities include a clubhouse, a pool, gas fire pits, an outdoor kitchen, two dog parks, two playgrounds and a mail kiosk. The complex is set to be available to residents in 2024. HEDK is serving as the architect for the project. Jenkins Engineering is providing civil engineering services. Jordan & Skala Engineers is …

May 24, 2023

News People News Southeast Tennessee

JLL Capital Markets Adds Lee Harris to Nashville, Tennessee Team

by Channing Hamilton May 23, 2023

NASHVILLE, TENN. — JLL Capital Markets has selected Senior Director Lee Harris to join its multifamily team in Nashville. In this role, Harris will work alongside Senior Managing Director Brian Dawson on agency debt, as well as providing capital stack solutions to multifamily, mixed-use and MHC clients. Prior to joining JLL, Harris served as a Director at Greystone. He also held positions at RED Capital Group and Lument. Harris earned his degree from the University of Southern California.

May 23, 2023

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