Southeast

Renter-Friendly Security Deposit Legislation Is a Sea Change for Property Managers

by Channing Hamilton September 18, 2023

— By Revital Gadish, CEO, Qira — More than a third of Americans rent their homes, according to the U.S. Census Bureau. As such, the political landscape is evolving to fit their needs. An influx of new laws and proposed legislation has ensued, aimed at increasing transparency and fairness and avoiding financial hardship for tenants. Much of the ensuing legislation is focused on security deposits. The strictest of the bills bans security deposits entirely, while others are capping the amount landlords can charge as a security deposit. So far, Texas, …

September 18, 2023

Avia at North Springs in Sandy Springs, Georgia

Georgia Investment Sales News Southeast

Tishman Speyer Acquires Workforce Housing Community in Atlanta Suburb

by Channing Hamilton September 14, 2023

SANDY SPRINGS, GA. — Tishman Speyer has acquired Avia at North Springs, a workforce housing community in the Sandy Springs suburb of Atlanta. Avia at North Springs was constructed in two phases between 1989 and 1996. The property comprises 502 units in studio, one-, two- and three-bedroom layouts. Amenities include a clubhouse, two pools, tennis courts and a children’s playground. Avia at North Springs also features a series of wooded walking trails throughout the 18.6-acre property and a boardwalk overlooking a nature preserve. Tishman Speyer purchased the asset, which will …

September 14, 2023

Florida Investment Sales News Southeast

Institutional Property Advisors Arranges Sale of 361-Unit Captiva Club in Tampa, Florida

by Channing Hamilton September 12, 2023

TAMPA, FLA. — Institutional Property Advisors (IPA) has arranged the sale of Captiva Club, a garden-style property located along Memorial Highway in Tampa. Eagle Property Capital sold the asset to Sinatra & Co. Real Estate for an undisclosed price. IPA’s Shelton Granade, Sean Williams, Luke Wickham and Justin Basquill represented the seller and procured the buyer. Captive club comprises 361 apartments on a 20-acre site. Units come in studio, one-, two- and three-bedroom floor plans. Amenities include two pools, a fitness center, a clubhouse, pet parks and courtyards.

September 12, 2023

Georgia Investment Sales News Southeast

Northland Acquires 344-Unit 670 Thornton in Atlanta Suburb

by Channing Hamilton September 11, 2023

LITHIA SPRINGS, GA. — Northland has acquired 670 Thornton, a 344-unit community in the Atlanta suburb of Lithia Springs. 670 Thornton is situated on a 46-acre site approximately 15 miles west of Atlanta. Units come in studio, one-, two- and three-bedroom floor plans. The property features secure gated entry, a fitness center, business center, grilling areas, a pet park, two pools, a theater room, a playground, tennis courts and a walking trail. Northland plans to renovate the complex by adding a valet trash program, SmartRent technology and in-unit washers and …

September 11, 2023

Development Florida News Southeast

Crescent Heights Tops Off 39-Story NEMA Miami in Downtown Miami

by Channing Hamilton September 11, 2023

MIAMI — Crescent Heights has topped off NEMA Miami, a 39-story rental tower in downtown Miami. McHugh Construction and Stiles Construction are the general contractors for the project. NEMA Miami will offer 588 apartments, as well as ground-floor retail, including a 42,030-square-foot Whole Foods Market, and a seven-story parking garage with 748 spaces. Units will come in studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, sauna and steam rooms, event space, a private bar lounge and a fitness center. First move-ins are slated for summer 2024. …

September 11, 2023

Build-to-Rent Development Finance Georgia News Southeast

JLL Arranges $26.8 Million Construction Financing for BTR Community in Atlanta Suburb

by Channing Hamilton September 8, 2023

LOGANVILLE, GA. — JLL Capital Markets has arranged $26.8 million in construction financing for Rosebud Place, a 139-unit build-to-rent community in the Atlanta suburb of Loganville. The borrower was a joint venture between Landeavor and LAMB Properties. JLL’s Matthew Putterman, Danny Kaufman, Chris Knight and Ware Shipman represented the joint venture to secure the five-year, floating-rate loan through a regional bank. Rosebud Place will offer three- and four-bedroom homes ranging in size from 1,833 to 1,854 square feet. Amenities will include pool, dog park, children’s play area and walking trails.

September 8, 2023

Keybank Multifamily Affordable Housing Janette O'Brien

Affordable Housing Content Partner Features Finance Industry Content Midwest Northeast Southeast Texas Western

Fine-Tune Borrowing Strategies to Activate Multifamily Projects

by Sarah Daniels September 7, 2023

Multifamily developers and owners seeking debt financing face a gauntlet of headwinds, but deal flows confirm that good deals are still landing loans. That’s according to Janette O’Brien, head of production for multifamily lending at KeyBank. As one of the nation’s largest bank-based financial services companies, KeyBank has a full pipeline of multifamily loans in process. That puts O’Brien’s finger on the pulse of what differentiates viable deals in today’s volatile market. Multifamily & Affordable Housing Business asked O’Brien about current borrower challenges, as well as the strategies that are helping some …

September 7, 2023

Affordable Housing Development Finance Florida News Southeast

Pinnacle Secures $47.8 Million to Build Second Phase of Affordable Project in Hollywood, Florida

by Channing Hamilton September 6, 2023

HOLLYWOOD, FLA. — Pinnacle has secured $47.8 million in financing to build the second phase of Pinnacle 441, an affordable housing community in Hollywood. The first phase of the project comprises 113 affordable units and 8,000 square feet of commercial space. Phase two of Pinnacle 441 will rise eight stories on a 1.7-acre site just west of the first phase. The development will offer 100 one-, two- and three-bedroom units that will be affordable to tenants earning up to 60 percent of the area median income. Construction will begin in September and is …

September 6, 2023

Development Finance News North Carolina Southeast

JLL Arranges $43.9 Million for Construction of Mountain Island in Charlotte, North Carolina

by Channing Hamilton September 6, 2023

CHARLOTTE, N.C. — JLL Capital Markets has arranged $30 million in construction financing for the development of Mountain Island in Charlotte. The borrower was Waypoint Residential. JLL also arranged $13.9 million in preferred equity through FCP. The development is situated northwest of downtown Charlotte. Mountain Island will offer one-, two- and three-bedroom units with vinyl plank flooring, walk-in closets, balconies or patios, stainless steel appliances and in-unit washers and dryers. Amenities will include a clubhouse, pool, fitness center, grilling area and dog park. A development timeline for the project was not …

September 6, 2023

Development Finance News North Carolina Southeast

FCP Provides $13.9 Million for Easton at Mountain Island in Charlotte, North Carolina

by Channing Hamilton September 1, 2023

CHARLOTTE, N.C. — FCP has provided $13.9 million in preferred equity for the development of Easton at Mountain Island, a 240-unit community in Charlotte. FCP provided the capital to the developer, Waypoint Residential, through its Structured Investments platform Easton at Mountain Island will be situated on 20 acres along Garron Point Dr., near the Catawba River and Charlotte Douglas International Airport.

September 1, 2023

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