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Magnolia-at-Powell
Build-to-RentDevelopmentFinanceFloridaNewsSoutheast

Agador Spartacus Receives $26 Million Loan for Magnolia at Powell

by Lynn Peisner

WILDWOOD, FLA. — Agador Spartacus has secured a $26 million take-out bridge loan on existing construction debt used to build Magnolia at Powell in Wildwood. The Aventura, Florida-based developer completed the build-to-rent project in January. JLL Capital Markets arranged the financing with a team led by Managing Director Max La Cava, Senior Managing Director Melissa Quinn, Vice President Rob Rothaug and Analyst Jade Starkey. The funding provider of the loan was not disclosed. Magnolia at Powell is located adjacent to The Villages active adult community and features one-, two- and …

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Nick-Steele-Lument
ColoradoInvestment SalesPeople NewsWestern

Lument Hires Nick Steele to Lead Mountain State Investment Sales

by Lynn Peisner

DENVER — Nick Steele has joined Lument to lead investment sales across Colorado, Idaho, Montana and Wyoming. Steele joins Lument from Berkadia, where he worked in the firm’s Denver office. Prior to Berkadia, Steele held senior roles at Marcus & Millichap and started his career at Apartment Realty Advisors. Over the course of his career, Steele has closed approximately $1.5 billion in multifamily sales. Lument is a banking and lending company that launched an investment sales division in 2024.

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Crest-Manor
Investment SalesNewsTexas

Joint Venture Buys Crest Manor Near Dallas

by Lynn Peisner

LEWISVILLE, TEXAS — SPI Advisory and FCP have acquired Crest Manor Apartments, a 600-unit community in Lewisville, 25 miles north of Dallas. SPI said in a release it had been in discussions with the undisclosed developer and seller for the past five years and acquired the asset in an off-market transaction. Crest Manor was developed in two phases in 2010 and 2016. Amenities include two pools, a clubhouse, fitness center, tennis courts and walking trails. Units are offered in one-, two- and three-bedroom floor plans. The joint venture partners are …

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Old-Ivy-Charlottesville
Build-to-RentDevelopmentNewsSoutheastVirginia

Greystar Underway on BTR Project Near UVA

by Lynn Peisner

CHARLOTTESVILLE, VA. — Greystar has broken ground on Old Ivy, a 525-unit community in Charlottesville. The development site is just off the University of Virginia campus, east of Highway 29, between Old Ivy and Leonard Sandridge roads. The project includes a variety of homes, including apartments, standalone dwellings, duplexes and townhomes. More specifically, Old Ivy will be comprised of 336 apartments, with one-, two- and three-bedroom floorplans, and 189 build-to-rent residences, consisting of three-bedroom townhomes as well as three-bedroom standalone homes clustered around green spaces or mini parks, some with …

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Manteca-Golf-and-Tennis-Villas
CaliforniaInvestment SalesNewsWestern

Marcus & Millichap Closes $15.6 Million Sale in California’s Central Valley

by Lynn Peisner

MANTECA, CALIF. — Marcus & Millichap has arranged the sale of Manteca Golf & Tennis Villas, a 56-unit property in Manteca, a city between Modesto and Stockton, California, and about 76 miles west of San Francisco. The property sold for $15.6 million. Stephen Jackson and Joe Owens, both senior directors with Marcus & Millichap, represented the seller. Neither party to the transaction was identified. Completed in 1985, Manteca Golf & Tennis, which is adjacent to a golf course, has a pool, laundry facilities and a tennis court. Units feature washer …

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Mill-Landing
Build-to-RentDevelopmentNewsSouth CarolinaSoutheast

Material Capital Partners Buys Land for South Carolina BTR Development

by Lynn Peisner

GREER, S.C. — Material Capital Partners has acquired 25 acres in Greer, 16 miles northeast of Greenville, South Carolina, to develop Mill Landing, a build-to-rent community. The project will consist of 163 single-family, detached homes and townhomes in a mix of three- and four-bedroom floor plans. Each home will feature an attached private garage and a private patio. Amenities will include a clubhouse with coworking and lounge spaces, a resort-style pool, fitness center, a dog park and walking trails. Greystar will serve as the property manager. The developer will break …

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LOFT-Realpage
Leasing & MarketingNewsOperationsTechnologyTexas

RealPage Acquires Flexible Payment Company

by Lynn Peisner

RICHARDSON, TEXAS — RealPage has acquired Livble, a flexible-payment company, and will incorporate the new payment technology into two of its own software solutions, LOFT and Buildium. LOFT is a resident-facing app RealPage launched in January. LOFT’s payment function allows users to pay their rent traditionally, directly from their bank in one lump sum, or residents can pay in two installments. With the Livble technology, residents now can split up payments into up to four installments per month. RealPage assumes nonpayment risk and manages collections should residents not pay. In …

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Blue-Rock
CaliforniaFinanceNewsWestern

Prime Residential Secures $91.5 Million Loan to Refinance Bay Area Asset

by Lynn Peisner

VALLEJO, CALIF. — Prime Residential has received a $91.5 million loan to refinance Blue Rock Village, a 560-unit property the company owns in Vallejo, 36 miles north of San Francisco. Walker & Dunlop’s Bryan Frazier and Blake Hockenbury arranged the 10-year, full-term interest-only loan at a fixed rate from Freddie Mac. Blue Rock Village was developed in two phases in the mid 1980s. The property consists of 41 buildings housing a total of 560 units, a leasing office, a fitness center and a maintenance building, all situated on about 36 …

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Penrose-Frisco-Southstone-Yards
DevelopmentNewsTexas

Rosewood Breaks Ground on 382-Unit Project in Frisco

by Lynn Peisner

FRISCO, TEXAS — Rosewood Property Co. and equity partner MetLife Investment Management, the institutional asset management business of MetLife, have broken ground on Penrose, a 382-unit property in Frisco. Located on a 5-acre site at 4301 Tributary Way, Penrose is a part of the Southstone Yards masterplan, a pedestrian-oriented, 45-acre, mixed-use project featuring multiple phases of development with such uses as office, residential, restaurant, hotel and green space. Completion of the greater Southstone Yards development is slated for 2030, while Dallas-based Rosewood is estimating a fall 2027 completion date for …

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Peakmade-Olathe
Build-to-RentDevelopmentKansasMidwestNews

PeakMade Breaks Ground on Kansas City-Area BTR Project

by Lynn Peisner

OLATHE, KAN. — PeakMade Real Estate and Blue Vista Capital Management have broken ground on Olathe Commons, a build-to-rent (BTR) community in the Kansas City suburb of Olathe. Developers anticipate leasing will begin in August 2026 with a final project completion date slated for September 2027. Construction financing was provided by Old National Bank, and Open House Group is a joint venture limited partner for the project. Olathe Commons will be comprised of 60 single-family cottages and 154 townhomes. Units will feature two- to four-bedroom layouts with select floorplans offering …

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