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Cantabria Bradenton community
DevelopmentFloridaInvestment SalesNewsSoutheast

Wolfson Sells Florida BTR Development for $59 Million

by Lynn Peisner

BRADENTON, FLA. — Wolfson BTR, an affiliate of Wolfson Development Co., has sold Cantabria in Bradenton to an institutional buyer for $59 million. According to the Florida Division of Corporations, the buyer is Star Lake Fund III, an affiliate of JP Morgan Investment Management. Wolfson built Cantabria Bradenton in conjunction with publicly traded home builder Lennar. The property sits on 36 acres and consists of 184 units, including 172 attached townhomes and 12 detached single-family homes. The three- and four-bedroom single-family and townhouse units are equipped with attached garages and …

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An aerial shot of Addison at Rossview, a multifamily community in Clarksville, Tennessee.
Investment SalesNewsSoutheastTennessee

Timberland Partners Acquires Addison at Rossview Near Nashville, Tennessee, for $40 Million

by Channing Hamilton

CLARKSVILLE, TENN. — Timberland Partners has acquired Addison at Rossview from an undisclosed local developer for $40 million. Northmarq’s David Stollenwerk and Bryan Schellinger represented the seller. Daniel Trebil and Jesse Lemos secured acquisition financing in the form of a 10-year fixed rate loan on behalf of the buyer. Addison at Rossview is a 205-unit property in Clarksville, which is 50 miles northwest of Nashville, Tennnessee. Built in 2016, the property offers one-, two- and three-bedroom floor plans. Amenities include a pool with a grilling area, dog park playground, coffee …

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The pool at Grove at Temple Terrace
FloridaInvestment SalesNewsSoutheast

29th Street Capital Buys Tampa Property for $26.6 Million

by Lynn Peisner

TAMPA, FLA. — Cushman & Wakefield has arranged the $26.6 million sale of Grove at Temple Terrace in Tampa. The 180-unit property was acquired by Infinity BH and sold by 29th Street Capital. Nick Meoli and Mike Donaldson of Cushman & Wakefield represented the seller in the transaction. According to Meoli, lease tradeouts at Grove at Temple Terrace average 17.4 percent. The average unit size is 1,104 square feet. Amenities include a pool, a tennis court, a clubhouse with a complimentary coffee bar and gated access.

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AlabamaInvestment SalesNewsSoutheast

Marcus & Millichap Brokers Huntsville-Area Sale

by Lynn Peisner

ATHENS, ALA. — Marcus & Millichap has arranged the sale of Creekside Athens, a 98-unit property in Athens, which is located about 28 miles northwest of Huntsville, Alabama. Creekside Athens has 10 acres of additional land zoned for 120 more multifamily units. Marcus & Millichap’s Josh Jacobs and Royce Emerson marketed the property on behalf of the seller, a limited liability company. The buyer and sales price were not disclosed. Constructed in 2021, Creekside Athens has two- and three-bedroom floor plans with sunrooms, walk-in closets, patios and porches. Amenities include …

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Oxenfree rendering
Build-to-RentCompany NewsDevelopmentMidwestNewsSoutheastTexas

Core Spaces Launches Build-to-Rent Brand, Plans 8,000-Unit Pipeline

by Lynn Peisner

CHICAGO — Core Spaces, a Chicago-based developer that was founded in 2010 and specializes primarily in student housing, is debuting a build-to-rent brand called Oxenfree. The company also operates out of an Austin, Texas, office. The first two projects will be developed in Princeton, Texas, and Nashville, Tennessee, and will be completed by approximately 2024. Oxenfree properties will also be constructed in Denver, Dallas, Austin and San Antonio, Texas, Tampa and Orlando, Florida, Charlotte and Raleigh, North Carolina, and Chicago. The communities will be developed as single-family and townhome-style dwellings. The …

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NOVEL Morrisville rendering
DevelopmentNewsNorth CarolinaSoutheast

Crescent Communities Breaks Ground on Apartments in Research Triangle Master-Planned Development

by Lynn Peisner

MORRISVILLE, N.C. — Crescent Communities broke ground in April on NOVEL Morrisville, a 336-unit project located in a master-planned development about 15 miles northwest of Raleigh, North Carolina. The site is across the street from Spark Life Science, an under-construction life sciences project, and adjacent to Apple’s upcoming Research Triangle campus. NOVEL Morrisville is slated for a summer 2024 completion. The unit mix includes one-, two- and three-bedroom floor plans. Amenities feature a pool, two-story fitness center, resident club room and arcade, a sports-bar-inspired lounge and coworking spaces. Partners for …

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A 3D render of 2 Rivers Apartment Homes, a complex in Williamsburg.
DevelopmentNewsSoutheastVirginia

S. L. Nusbaum Realty Co. Begins Construction on 2 Rivers Apartment Homes in Williamsburg

by Channing Hamilton

WILLIAMSBURG, VA. — S. L. Nusbaum Realty Co. has begun construction on 2 Rivers Apartment Homes, an 119-unit affordable community in Williamsburg. The Norfolk, Virginia-based company worked with AGM Financial Services and TowneBank to secure financing. The cost of the project is expected to total approximately $26 million. Harkins Builders is the general contractor. 2 Rivers Apartment Homes will be constructed in two phases. The first phase of the community will comprise 59 units in one-, two- and three-bedroom floorplans. Amenities will include a clubhouse, fitness center, business center with …

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Aqua Vista in Newport News
Affordable HousingDevelopmentNewsSoutheastVirginia

BLVD Begins $35.8 Million Affordable Housing Renovation in Newport News

by Lynn Peisner

NEWPORT NEWS, VA. — The BLVD Group has acquired and plans to renovate Aqua Vista Apartments in Newport News. The 150-unit community was originally constructed in 1970. The $35.8 million redevelopment will include a gas-to-electric conversion, new roofs, insulation, energy efficient windows and entry doors. Each unit will receive new kitchens, bathrooms, appliances, flooring, paint and LED light fixtures. The owner will expand amenities at the site, adding new barbecues, a playground, a dog park, a business center, a community room and a new leasing office. The redevelopment will preserve …

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Richmond Hill apartments
DevelopmentNewsSoutheast

Novare Group, BCDC Break Ground on Richmond Hill Luxury Apartment Community

by Lynn Peisner

RICHMOND HILL, GA. — Novare Group and Batson-Cook Development Co. (BCDC), both Atlanta-based development and investment firms, have broken ground on their 37th joint-venture project, a 302-unit community on 26 acres in Richmond Hill, which is approximately 20 miles south of Savannah. The project is the multifamily component of Heartwood at Richmond Hill, a 7,000-acre, master-planned, mixed-use project under development by Raydient. Humphreys & Partners Architects designed the community. Amenities will include a pool with cabanas, an outdoor amenity deck with kitchen space, a fire pit, a fitness center, flexible …

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A 3D render of District in Davie, a 5-building mixed-use development.
DevelopmentFloridaNewsSoutheast

El-Ad National Properties Plans $1 Billion District in Davie Mixed-Use Project Near Miami

by Channing Hamilton

DAVIE, FLA. — El-Ad National Properties, a subsidiary of Elad Group based in Boca Raton, has released plans for a 2.8 million-square-foot mixed-use project in Davie, 24 miles north of Miami. The town of Davie has approved the development. The project, called The District in Davie, is expected to cost approximately $1 billion, according to El-Ad. At full build-out, the property will comprise 1,256 apartment units across five high-rise buildings, as well as 36,000 square feet of ground-floor restaurant and retail space. Each building will range from 20 to 24 stories and offer …

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