Southeast

Bainbridge Hires Marcie Williams as Chief Strategy Officer

by Channing Hamilton January 21, 2025

CHARLOTTE, N.C. — The Bainbridge Cos. has hired Marcie Williams to the position of chief strategy officer. Based in Charlotte, Williams will oversee Bainbridge’s operations, brand and growth as the company pursues portfolio expansion opportunities throughout the Sun Belt. Prior to joining Bainbridge, Williams served as CEO at RKW Residential. She previously held positions at Greystar and Camden Property Trust. Williams is also the board president of the Greater Charlotte Apartment Association, a trade association for the rental housing industry. She also serves on the membership committee for the National …

January 21, 2025

Lindsey Manor Apartments in Kernersville, North Carolina

Investment Sales News North Carolina Southeast

Gindi Equities Sells Community in Kernersville, North Carolina, for $34 Million

by Channing Hamilton January 21, 2025

KERNERSVILLE, N.C. — Gindi Equities has sold Lindsey Manor Apartments in Kernersville, 10 miles east of Winston-Salem, North Carolina, to an undisclosed buyer for $34 million. Located at 472 Lindsey St. near downtown Kernersville, Lindsey Manor Apartments consists of 222 units in one- two- and three-bedroom configurations. Gindi Equities originally acquired the asset in October 2021 for $24.5 million. The company completed a series of renovations at the property, including updates to apartment interiors, complete reroofing, new dog park and grilling area and upgrades to the pool and playground. This transaction …

January 21, 2025

Development Finance News North Carolina Southeast

Partnership Receives $191 Million Loan for Mixed-Use Development in Cary, North Carolina

by Channing Hamilton January 21, 2025

CARY, N.C. — A partnership consisting of Hines, Affinius Capital and Columbia Development has secured a $191 million senior mortgage for Fenton, a mixed-use development located in Cary, roughly 10 miles west of Raleigh, North Carolina. Chip Sykes and Kelsey Bawcombe of JLL arranged the loan through New York Life Real Estate Investors. Fenton was built between 2022 and 2023. The project features an apartment community — The Allison at Fenton — comprising 367 multifamily units, as well as approximately 246,000 square feet of retail space and 183,000 square feet of office space.

January 21, 2025

Development Florida News People News Southeast

Hillpointe Appoints Jamie Telchin as Vice President of Development

by Channing Hamilton January 20, 2025

WINTER PARK, FLA. — Winter Park-based development and investment management firm Hillpointe has appointed Jamie Telchin to the position of vice president of development. In this role, Telchin will lead the development team for Hillpointe’s Pointe Grande for-rent and for-sale communities. Prior to joining Hillpointe, Telchin was senior managing director at Waypoint Residential, a developer and investment manager headquartered in Boca Raton, Florida. Additionally, he served as an executive vice president of development at LXR, an affiliate of The Blackstone Group. He received an MBA from the University of Colorado at …

January 20, 2025

Investment Sales Kentucky News Southeast

Morgan Properties Purchases Blankenbaker Crossings in Louisville, Kentucky, for $39 Million

by Channing Hamilton January 20, 2025

LOUISVILLE, KY. — Conshohocken, Pennsylvania-based Morgan Properties has purchased Blankenbaker Crossings, a 236-unit property in Louisville, for $39 million. Built between 2005 and 2006, the garden-style community was 96 percent occupied at the time of sale. The new ownership plans to invest $2.1 million to add new amenities to the community, including a pickleball court, dog parks and Amazon package hubs. Additionally, units will be updated with kitchen and bath renovations, new washers and dryers and smart technology features. Craig Collins and Mike Kemether of Cushman and Wakefield brokered the …

January 20, 2025

Florida Investment Sales News Southeast

Marcus & Millichap Closes $16.5 Million Sale in North Miami

by Lynn Peisner January 17, 2025

MIAMI — Marcus & Millichap has brokered the sale of SK Apartments in North Miami. The asset, located at 14555 NE 145th St., was sold by an unnamed private investor for $16.5 million. Felipe Echarte, Evan Kristol and Nicholas McAndrew based out of Marcus & Millichap’s Fort Lauderdale office represented the seller. The property includes a mix of one- and two-bedroom units, averaging 645 square feet. According to Apartments.com, the building was constructed in 1963.

January 17, 2025

River Lofts at Tobacco Row in Richmond, Virginia

Investment Sales News Southeast Virginia

West Shore Acquires 742-Unit River Lofts at Tobacco Row Portfolio in Richmond, Virginia

by Channing Hamilton January 17, 2025

RICHMOND, VA. — Boston-based West Shore has acquired The River Lofts at Tobacco Row, a portfolio of five communities in Richmond’s Shockoe Bottom neighborhood. Drew White, Carter Wood and Cole Carns of Berkadia brokered the deal. Additionally, Robert Falese, Jake Adoni and Kris Kadar of Berkadia arranged an undisclosed amount of acquisition on behalf of West Shore. The direct lender was also not disclosed. The properties included in the sale are Cameron Kinney (259 units), American Cigar Lofts (174 units), Consolidated Carolina Lofts (166 units), Lucky Strike Lofts (131 units) …

January 17, 2025

Affordable Housing Development Florida Industry Voices Southeast

Low Cost of Living, New Affordable Housing Legislation Lure Renters and Developers to Hollywood, Florida

by Lynn Peisner January 16, 2025

The city of Hollywood, Florida, is transforming. Once best known for its pristine beaches and as the winter home to many French Canadians, the area is becoming a magnet for new arrivals from the Northeast, Texas and California seeking a better place to live and do business. Hollywood’s mayor and city commissioners are showing their support for multifamily development, which will result in half a dozen projects being completed in 2025. Why are people choosing Hollywood and not Fort Lauderdale or well-known Miami neighborhoods like Brickell and Wynwood? Because the …

January 16, 2025

The NRP Group's Residences at Cedar Creek in Charlotte

Affordable Housing Development News North Carolina Southeast

The NRP Group Delivers Affordable Housing in Charlotte

by Lynn Peisner January 15, 2025

Charlotte, N.C. — Cleveland-based The NRP Group has completed and opened Residences at Cedar Creek, a mixed-income community located about nine miles southwest of Charlotte. The 200-unit property mainly serves residents earning between 30 and 60 percent of area median income (AMI). A few units are reserved for renters earning up to 80 percent AMI. Bank of America and KeyBank provided financing for the project. The City of Charlotte also invested $2.5 million in Housing Trust Fund gap financing, and the North Carolina Housing Finance Agency provided $22 million in …

January 15, 2025

Company News Georgia Leasing & Marketing News Operations People News Southeast

RKW Tapped to Manage Atlanta Property, Hires New Regional Manager

by Lynn Peisner January 14, 2025

DULUTH, GA — Westplan has selected third party management firm RKW Residential to lease and manage Accent Suwanee Creek near Atlanta. The 253-unit property is made up of one-, two- and three-bedroom units. RKW also has hired Sean Shalpan, formerly a regional manager with Greystar, to support RKW’s growth throughout Georgia. RKW is headquartered in Charlotte with regional offices in Miami, Orlando, Florida, Atlanta and Raleigh, North Carolina. The company manages approximately 30,000 multifamily and build-to-rent units in eight states.

January 14, 2025

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