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Atlantica at Town Center in Davenport, Florida
DevelopmentFloridaLeasing & MarketingNewsSoutheast

Sovereign Properties, Invest Capital Group Open Atlantica at Town Center in Davenport, Florida

by Channing Hamilton

DAVENPORT, FLA. — Sovereign Properties and Invest Capital Group have opened the first phase of Atlantica at Town Center, a 360-unit complex in Davenport. The property is currently 60 percent leased. Units come in one-, two- and three-bedroom floor plans ranging from 683 square feet to 1,435 square feet in size. Amenities include a pool with cabanas, outdoor kitchen, fitness center, pet park, dog spa, yoga studio, clubhouse, package lockers, storage units and on-site security. The developers expect to break ground on phase two of the project later this year. …

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ArizonaDevelopmentNewsWestern

Sunstone Two Tree to Develop Three BTR Communities in Arizona for $195 Million

by Channing Hamilton

PHOENIX, GLENDALE AND TOLLESON, ARIZ. — Sunstone Two Tree, a vertically integrated operator and developer based in Westlake Village, California, plans to develop three build-to-rent (BTR) communities in Arizona. Altogether, the three developments are slated to cost $195 million to construct and will add 551 single-family rental units to metro Phoenix. Sunstone Two Tree acquired a 29-acre lot at the southeast corner of Northern Pkwy. and N. Sarival Ave. in Glendale. The company will develop a 320-unit project on the site in partnership with Richmond, Virginia-based Capital Square. The community will include 102 …

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Investment SalesNewsNorth CarolinaSoutheast

Capstone Cos. Brokers $13.5 Million Sale of Cottage Gardens in Greensboro, North Carolina

by Channing Hamilton

GREENSBORO, N.C. — Capstone Cos. has arranged the $13.5 million sale of Cottage Gardens, a 176-unit community located in Greensboro. The community was built in 1960. Ron Corrao, Eric Liebich, Josh Greenwald, Scott Fuller, Matt Weinstein and Dane Lozier of Capstone represented the undisclosed seller in the transaction. VanRock Real Estate was the buyer. 

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Abernathy Lofts in Charlotte, N.C.
DevelopmentInvestment SalesNewsNorth CarolinaSoutheast

Land Advisors Organization Brokers $11.2 Million Sale of Development Site in Charlotte, N.C.

by Channing Hamilton

CHARLOTTE, N.C — Land Advisors Organization has brokered the sale of an approximately 4.5-acre site in the historic North Davidson district of Charlotte. NRP Properties LLC acquired the parcel from Triple Crown LLC for $11.2 million. Hayes Faulkenberry and Forde Britt of Land Advisors Organization represented the seller in the transaction. NRP Properties, in partnership with Canyon Partners Real Estate, will develop a 392-unit complex called Abernathy Lofts on the site. Amenities will include a pool, community outdoor area with grilling stations, co-working spaces, a fitness center and dog park. …

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Affordable HousingDevelopmentInvestment SalesNew MexicoNewsWestern

CPP Acquires Two Affordable Communities in Albuquerque, New Mexico for $22.8 Million

by Channing Hamilton

ALBUQUERQUE, N.M. — Community Preservation Partners (CPP) has acquired Mountain View II and III, two affordable properties that share a contiguous block in Albuquerque, for $22.8 million. CPP will renovate the two garden-style communities and operate the assets as one development called Mountain View Apartments. The seller was not disclosed. Mountain View II was built in 1967 and Mountain View III was built in 1968. In total, Mountain View Apartments offers 241 units across multiple two-story buildings and townhouses. Units come in studio, one-, two- and three-bedroom floor plans. Amenities …

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North Tryon in Charlotte, N.C.
DevelopmentInvestment SalesNewsNorth CarolinaSoutheast

Embrey Acquires Seven Acres to Build North Tryon in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — Embrey has acquired seven acres around the historic North Davidson district in Charlotte to develop a new community called North Tryon. Amenities at North Tryon will include a clubhouse with a game room, business center with micro-offices and a conference room, fitness center and a pool. The development’s first residential units and clubhouse are expected to be available in the third quarter of 2025, with project completion scheduled in 2026.

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Affordable HousingCaliforniaDevelopmentFinanceNewsWestern

KeyBank Provides $71.8 Million in Construction Financing for Affordable Housing Project in Greenfield, California

by Channing Hamilton

GREENFIELD, CALIF. — KeyBank Community Development Lending and Investment (CDLI) and KeyBanc Capital Markets have provided a $71.8 million financing package for the construction of the first phase of Greenfield Commons in Greenfield. EAH Housing Inc. is developing the project. KeyBank CDLI provided a $15.9 million taxable construction loan to collateralize a Fannie Mae forward MBS Tax-Exempt Bond (MTEB) public bond offering and $55.4 million tax-exempt direct purchase loan to bridge California Accelerator program funds. KeyBanc Capital Markets purchased $55.4 million of 501(c)(3) bonds and provided a floating-to-fix interest rate swap …

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BerkadiaBuild-to-RentDevelopmentFloridaInvestment SalesNewsSoutheast

Berkadia Brokers $37.5 Million Acquisition Loan for Build-to-Rent Project in Port St. Lucie, Florida

by Channing Hamilton

PORT ST. LUCIE, FLA. — Berkadia has arranged a $37.5 million forward acquisition loan for Tavalo Tradition, a 216-unit build-to-rent development underway in Port St. Lucie. An investment vehicle managed by GTIS Partners purchased the townhome-style community from K. Hovnanian. Scott Wadler and Matt Nihan of Berkadia arranged the financing through an unnamed national bank on behalf of GTIS Partners, which will obtain the capital in draws. Tavalo Tradition will be situated within the 2,500-acre Tradition master-planned community. Units will come in two- and three-bedroom townhomes and average 1,387 to 1,494 …

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Easton Place in Murfreesboro, Tennessee
Investment SalesNewsSoutheastTennessee

Argyle Real Estate Partners Acquires Easton Place in Nashville Suburb

by Channing Hamilton

MURFREESBORO, TENN. — Argyle Real Estate Partners has acquired Easton Place, a garden-style community in the Nashville, Tennessee suburb of Murfreesboro. Easton Place offers 184 units with stainless steel appliances, plank flooring and granite countertops. Amenities include a pool with cabanas and waterfall lighting, green spaces, a community fire pit and a clubhouse with a movie theater. Argyle Real Estate Partners plans to renovate the complex, although specific details regarding the planned improvements were not disclosed. Greystar will oversee the business plan for the asset, which will focus on driving …

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FloridaInvestment SalesNewsSoutheast

Institutional Property Advisors Brokers Sale of 288-Unit Windrift in Orlando, Florida

by Channing Hamilton

ORLANDO, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Windrift in Orlando. Shelton Granade, Luke Wickham and Justin Basquill represented the seller, Bridge Investment Group, and procured the buyer, Eagle Property Capital. Windrift was built in 1986 and comprises 288 units. All apartments have open-concept floorplans, washers and dryers, screened patios, and window treatments. Amenities include green spaces, a fitness center, pool and covered playground area.

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