Southeast

CityHouse Ashburn Station in Ashburn, Virginia

AREP, GreenBarn Acquire Build-to-Rent Development Site in Ashburn, Virginia, for $120 Million

by Channing Hamilton August 22, 2023

ASHBURN, VA. — A partnership between American Real Estate Partners (AREP) and GreenBarn Investment Group has acquired a development site in the Northern Virginia city of Ashburn, approximately 30 miles west of Washington, D.C. Dream Finders Homes sold the property to the partnership for $120 million. The site is approved for the construction of 200 build-to-rent homes. The community will be called CityHouse Ashburn Station. According to the property website, CityHouse Ashburn Station will offer three-bedroom units with an average size of 2,000 square feet. Amenities will include sports courts, …

August 22, 2023

Affordable Housing Development Finance Illinois Iowa Michigan Midwest News North Carolina Southeast Virginia

Woda Cooper Cos. Secures $67 Million for Five Affordable Housing Communities Across U.S.

by Channing Hamilton August 21, 2023

COLUMBUS, OHIO — Columbus-based Woda Cooper Cos. has secured $67 million in low-income housing tax credits (LIHTC) to support the financing for five affordable housing communities in the Southeast and Midwest U.S. The North Carolina Housing Finance Agency allocated $1.2 million to Pender Crossing, a 48-unit development to be built in Wilson, North Carolina. Pender Crossing will offer one-, two- and three-bedroom units across three buildings. TightLines Designs, headquartered in Raleigh, North Carolina, is the architect for the development. Woda Cooper is partnering with the Keweenaw Bay Indian Community to …

August 21, 2023

Averly Lake Worth in Lake Worth, Florida

Development Finance Florida News Southeast

Meyers Accesso Secures $46.2 Million to Construct Avery Lake Worth in Lake Worth, Florida

by Channing Hamilton August 17, 2023

LAKE WORTH, FLA. — Meyers Accesso has secured $46.2 million in construction financing for the development of Avery Lake Worth, a 200-unit community in Lake Worth. David Gahagan, Chris Hammel and Chandler Kaye of Northmarq’s West Palm Beach debt and equity team arranged the financing through a life insurance company. The lender provided financing with an additional mezzanine loan structure. Avery Lake Worth will comprise two buildings on a 5-acre site. Units will come in studio, one- and two-bedroom layouts. Amenities will include gated access, a clubhouse, fitness center, pool with …

August 17, 2023

Build-to-Rent Development Georgia Leasing & Marketing News Southeast

Kaplan Residential, Atlantic Residential Open BTR Community Near Atlanta

by Channing Hamilton August 16, 2023

CARTERSVILLE, GA. — A partnership consisting of Kaplan Residential and Atlantic Residential has opened Everton Estates, a build-to-rent community in the Atlanta suburb of Cartersville. Everton Estates offers 183 townhome units in two- and three-bedroom layouts. Each unit garage includes an EV charger. Amenities include a pool with cabanas, grill stations, fire pits, a playground, game lounge, fitness center, clubroom and an entertainment kitchen. Crosby Design Group designed the townhomes, while English & Associates architects designed and built the amenity spaces.

August 16, 2023

Development Georgia Leasing & Marketing News Southeast

CA Ventures Opens 33-Story 903 Peachtree Apartment Tower in Atlanta

by Channing Hamilton August 16, 2023

ATLANTA — CA Ventures has opened 903 Peachtree, a 33-story high-rise building in Atlanta’s Midtown neighborhood. The development team also includes Diamond Realty Investments and Cartel Properties. Cartel Properties is both a development partner and is leading the retail leasing assignment on behalf of the ownership group. Lincoln Property Co. is the property manager. 903 Peachtree offers 427 units in studio, one-, two- and three-bedroom floor plans, as well as 9,000 square feet of retail space. Units feature stainless steel appliances, in-unit washers and dryers, floor-to-ceiling windows and private balconies …

August 16, 2023

Affordable Housing Company News Development Florida News Southeast

Atlantic Pacific Companies, CTIS Partners to Develop 616-Unit Atlantic Station in Miami

by Channing Hamilton August 15, 2023

MIAMI — Atlantic Pacific Companies and GTIS Partners have formed a joint venture to invest in the ongoing development of Atlantic Station, a high-rise project in Miami. Atlantic station will rise 36 stories on a 2.1-acre site. The building will offer 616 apartments, 25,000 square feet of retail space and a 624-space parking garage. Of the total unit count, 360 will be affordable, although exact income restrictions were not disclosed. Amenities will include a recreation deck with two pools, a gym, picnic areas, a dog park and co-working spaces. Vertical …

August 15, 2023

Investment Sales News North Carolina Southeast

Bell Partners Acquires Vintage Jones Franklin in Raleigh, North Carolina

by Channing Hamilton August 15, 2023

RALEIGH, N.C. — Bell Partners has acquired Vintage Jones Franklin, a 277-unit complex in Raleigh. The asset was acquired on behalf of Bell Core Fund I investors and will be rebranded as Bell Jones Franklin. Completed in 2022, Bell Jones Franklin offers studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, pet park, clubhouse and a pool with cabanas. The property is located between suburban Cary and downtown Raleigh, and is in proximity to 280 entertainment and retail locations within a three-mile radius.

August 15, 2023

Development Florida Investment Sales News Southeast

Avison Young Brokers $38 Million Sale of Dolphin Square Development Site in Miami

by Channing Hamilton August 15, 2023

MIAMI — Avison Young has arranged the sale of a 7.9-acre development site at 1556 110th Ave. in Miami. Boca Raton, Fla.-based Procacci Development Corp. sold the asset for $38 million. The buyer was not disclosed. David Duckworth, Michael Fay, John Crotty, Brian de la Fé and Wayne Schuchts of Avison Young arranged the transaction on behalf of the seller. The site is approved for a 690-unit, 10-story project called Dolphin Square. Leo A Daly designed the current site plan for the project, which is located near Dolphin Mall.

August 15, 2023

Albion Music Row in Nashville, Tennessee

Development Investment Sales Leasing & Marketing Market Reports Southeast Tennessee

Renters Gain Upper Hand in Nashville

by Channing Hamilton August 14, 2023

In downtown Nashville, supply is overtaking demand, leaving renters in a position of power. Developers brought 8,175 units to the market in 2022, up 40 percent from 2021’s deliveries, according to Northmarq. But only about half of the units delivered last year — 4,200 — were absorbed. Owners, however, have a surprisingly glass-half-full perspective about excess supply and rising vacancies. Not only do they say this market condition is temporary. They also believe it provides an opportunity in disguise. It’s a chance to fine-tune the customer service side of the …

August 14, 2023

Quantum at Flagler Village in Fort Lauderdale, Florida

Finance Florida News Southeast

Walker & Dunlop Arranges $150 Million Refinancing for Quantum at Flagler Village in Ft. Lauderdale, Florida

by Channing Hamilton August 14, 2023

FT. LAUDERDALE, FLA. — Prime Group US and PMG Asset Services have secured a $150 million loan to refinance Quantum at Flagler Village, a mixed-use development in Fort Lauderdale. Joe Hercenberg of Walker & Dunlop led the team that secured a refinancing of the newly completed project’s construction loan in its initial lease-up. The lender was not disclosed. The loan features a fixed-rate, 60-month term. Walker & Dunlop also arranged the construction loan for the project four years ago. Quantum at Flagler Village comprises 337 apartments and 20,884 square feet …

August 14, 2023

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