Southeast

Venetian Apartments in Fort Myers, Florida

Berkadia Arranges $217 Million Recapitalization for Three-Property Portfolio in Central Florida

by Channing Hamilton July 20, 2023

ORLANDO AND FORT MYERS, FLA. — Berkadia has arranged $217 million in debt and equity financing for the recapitalization of a portfolio in Orlando and Fort Myers. Mitch Sinberg, Brad Williamson, Scott Wadler and Matthew Robbins of Berkadia South Florida arranged the financing on behalf of the borrower, a joint venture between JSB Capital Group and BLD Group. Freddie Mac provided a $185.4 million, fixed-rate loan with a 10-year term at a 60 percent loan-to-value. Related Fund Management provided $31.8 million in preferred equity. The portfolio comprises 1,139 units across …

July 20, 2023

Arkansas Finance Investment Sales News Southeast

Greystone Arranges $50 Million to Acquire Fountaine Bleau in North Little Rock, Arkansas

by Channing Hamilton July 19, 2023

NORTH LITTLE ROCK, ARKANSAS — Greystone has arranged a $50 million loan for the acquisition of Fountaine Bleau, a 435-unit complex in North Little Rock. Greystone’s Dan Sacks and Avi Kozlowski originated the Fannie Mae Delegated Underwriting and Servicing loan. David Singer of Callaway Capital acted as correspondent on the transaction. Fountaine Bleau comprises 18 buildings on a 20-acre site. The community offers one-, two- and three-bedroom units. The buyer plans to renovate the property with energy- and water-saving features such as new thermostats, lighting, washing machines, faucets and showerheads, …

July 19, 2023

Finance Kentucky News Southeast

Greystone Brokers $42.3 Million in Financing for 800 Tower City Club Apartments in Louisville, Kentucky

by Channing Hamilton July 17, 2023

LOUISVILLE, KY. — Greystone has arranged a $42.3 million Fannie Mae Delegated Underwriting & Servicing loan for 800 Tower City Club Apartments in Louisville. The non-recourse, fixed-rate financing carries a ten-year term and 30-year amortization, with three years of interest-only payments. Anthony Cristi brokered the deal on behalf of 800 City Apartments LLC. The building rises 29 stories and offers studio, one- and two-bedroom units. The property was built in 1963.

July 17, 2023

Florida Investment Sales News Southeast

Trilogy Real Estate Group Acquires Azalea Apartments Near Tampa, Florida for $85.8 Million

by Channing Hamilton July 17, 2023

BRANDON, FLA. — Trilogy Real Estate Group has acquired Azalea Apartments, a 289-unit community in the eastern Tampa, Florida suburb of Brandon, from ZOM Living for $85.8 million. Azalea Apartments is currently under construction, with the first move-ins slated to begin this quarter. Units come in one-, two- and three-bedroom layouts. Amenities include a pool, fitness center with a spinning studio and yoga lawn, event lawn, gaming area, dog park and pet salon.

July 17, 2023

Finance Georgia News Southeast

McKinley Homes Secures $52.2 Million Loan to Refinance Seven88 West Midtown in Atlanta

by Channing Hamilton July 17, 2023

ATLANTA — McKinley Homes has received a $52.2 million loan to refinance and lease-up 142 units within Seven88 West Midtown in Atlanta’s Midtown West neighborhood. David Perlman, Edward Prosser and Scott Sumida of Thorofare Capital originated the loan. Ben Nevid, Drew Anderman, Naphtali Marrus and Elliot Braude at Meridian Capital Group arranged the financing. Built in 2020, Seven88 West Midtown comprises 279 units and 8,639 square feet of ground floor retail space. Units come in studio, one-, two- and three-bedroom layouts, and feature outdoor space or balconies, quartz countertops, hardwood …

July 17, 2023

Development Finance Florida News Southeast

Fisher Brothers Breaks Ground on $117.5 Million Mixed-Use Development in Miami

by Channing Hamilton July 13, 2023

MIAMI — Fisher Brothers has broken ground on Wynhouse Miami, a 308-unit mixed-use development located in the Wynwood neighborhood of Miami. JP Morgan Chase and affiliates of Canyon Partners provided $117.5 million for the project. Suffolk Construction is building the community. Other members of the development team include Rockwell Group, Nichols Architects and ID & Design International. Wynhouse Miami will offer units in studio, one- and two-bedroom layouts. Amenities will include a fitness center, green space, co-working and entertainment lounges, an expo kitchen, a rooftop pool and outdoor entertainment space. The property …

July 13, 2023

Georgia Investment Sales News Southeast

Carter Exchange Sells Station at Savannah Quarters Near Savannah, Georgia for $62.5 Million

by Channing Hamilton July 10, 2023

POOLER, GA. — Carter Exchange Fund Management Co. has sold Station at Savannah Quarters, a garden-style community in the western Savannah suburb of Pooler. Carter Exchange sold the property for $62.5 million. Station at Savannah Quarters offers 244 units across seven buildings on a 10.7-acre site. Amenities include a clubhouse with a lounge area, cyber café and fitness center with wellness studio. During the company’s 2.8-year hold, Carter Exchange updated units with smart home packages, replaced flooring, and washers and dryers. The community was 96 percent occupied at the time …

July 10, 2023

Industry Voices Midwest Northeast Operations Southeast Texas Western

How Alternative Payment Systems Support White House ‘Renter’s Bill of Rights’

by Channing Hamilton July 10, 2023

— By Brian Ball and Revital Gadish, co-CEOs, Qira — Much of the news about property technology (proptech) concerns the physical features of apartment buildings — for example, appliances such as smart thermostats that save energy and money, or keyless entry and monitoring systems that are more convenient and secure. However, proptech also addresses intangible concerns, such as the societal push to give more power to renters in their relationships with owners and managers. The sector is rethinking how renters pay security deposits and monthly rents in ways that support …

July 10, 2023

Madison Point Apartments in Narania, Florida

Affordable Housing Development Florida News Southeast

ANF Group Completes Madison Point Apartments Near Miami

by Channing Hamilton July 7, 2023

NARANIA, FLA. — ANF Group Inc. has completed Madison Point Apartments, a garden-style mixed-use community in the Miami suburb of Naranja. Developed by JQ Group, Madison Point Apartments offers 263 units across four 4-story buildings. Units come in one-, two- and three-bedroom layouts, including both affordable and market-rate apartments. Details on income restrictions for the affordable units were not disclosed. Amenities include a pool, community center, playground, fitness center, library, media center and approximately 200 parking spaces.

July 7, 2023

Village at Coral Gables in Coral Gables, Florida

Development Finance Florida News Southeast

MG Developer Secures $67.5 Million to Construct Village at Coral Gables Near Miami

by Channing Hamilton July 7, 2023

CORAL GABLES, FLA. — MG Developer has secured a $67.5 million construction loan to build Village at Coral Gables, a community in the Miami suburb of Coral Gables. Churchill Real Estate provided the loan. The complex will comprise 48 residential units — including townhomes, lofts, villas and apartments — across 17 lots. Options for floor plans at the property include two-bedroom apartments with study rooms and balconies, as well as four-bedroom townhomes. Amenities include a wellness clubhouse, a terrace lounge, a fitness center, a pool and wi-fi connectivity. MG Developer expects …

July 7, 2023

Newer Posts

Older Posts