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Averly Lake Worth in Lake Worth, Florida
DevelopmentFinanceFloridaNewsSoutheast

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

by Channing Hamilton

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 …

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903 Peachtree in Atlanta
DevelopmentGeorgiaLeasing & MarketingNewsSoutheast

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

by Channing Hamilton

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 …

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Dolphin Square in Miami
DevelopmentFloridaInvestment SalesNewsSoutheast

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

by Channing Hamilton

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.

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Quantum at Flagler Village in Fort Lauderdale, Florida
FinanceFloridaNewsSoutheast

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

by Channing Hamilton

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 …

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1000M in Chicago
DevelopmentIllinoisMidwestNews

McHugh Construction Tops Out 73-Story Rental Tower in Chicago

by Channing Hamilton

CHICAGO — McHugh Construction has topped out 1000M, a 73-story tower at the western edge of Chicago’s Grant Park. 1000M will offer 738 apartments in studio to four-bedroom layouts. The community’s 80,000 square feet of indoor and outdoor amenity space will include an observation deck on the 73rd floor. The high-rise was designed by the late German Architect Helmut Jahn and his company, Jahn. McHugh Construction is the general contractor for the project. Kara Mann designed the unit and amenity interiors. Cullen Construction Management is the owner’s representative. The community’s first units …

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Stone Ends in Stoughton, Massachusetts.
Investment SalesMassachusettsNewsNortheast

Harbor Group International Sells 1,722-Unit Portfolio in Metro Boston

by Channing Hamilton

BOSTON — Harbor Group International (HGI) has sold a portfolio of 1,722 units across six communities in the greater Boston area. HGI acquired the portfolio in 2019 for $384 million. The company instituted a $13.6 million capital improvement program to renovate interior units, update property amenities, address outstanding deferred maintenance items and enhance overall curb appeal. Newmark represented HGI in the deal. A fund managed by Bridge Multifamily Fund Manager LLC, an affiliate of Bridge Investment Group Holdings Inc. (NYSE: BRDG), was the buyer. The properties included in the portfolio are:

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Edgemere Commons Building B1 in Queens
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Wells Fargo Provides $780.3 Million in Financing for Affordable Housing in Metro New York City

by Channing Hamilton

NEW YORK CITY AND YONKERS, N.Y. — Wells Fargo (NYSE: WFC) has provided $780.3 million in construction financing for the development of five affordable housing projects in the New York City metro area. Wells Fargo provided the funds through its Community Lending and Investment (CLI) group. The CLI funding team that closed the five loans included Duane Mutti, Korbin Heiss, Katelyn Meehan, Greg Richards, Jason Fernbach, Nancy Dipasquale, Marc Levine, Jessica Liang, Mark Mendenhall, Madalena Tran and Cassandra Clay. The developments, which total more than 1,100 units, are currently under construction, …

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Marlowe in St. Louis
FinanceMidwestMissouriNews

JLL Arranges $47 Million Refinance for Marlowe in St. Louis

by Channing Hamilton

ST. LOUIS — JLL Capital Markets arranged a $47 million loan to refinance Marlowe, a 205-unit asset in the Central West End neighborhood of St. Louis. Danny Kaufman, Philip Galligan, Mary Dooley and Rebecca Brielmaier worked on behalf of the borrower, Keeley Properties, to secure the four-year, fixed-rate loan through an insurance company. Sound Mark Partners provided preferred equity for the deal. Marlowe was completed in 2022. The community offers studio, one- and two-bedroom units. Amenities include a pool and sundeck, lawn with putting green, 1,600-square-foot pet park, flex workspaces and …

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An unnamed BTR community Parkland Homebuilders is developing in Centerville, Ga.
Build-to-RentDevelopmentFinanceGeorgiaNewsSoutheast

Forman Capital Provides $22.5 Million to Construct BTR Community Near Warner Robins, Georgia

by Channing Hamilton

CENTERVILLE, GA. — Forman Capital has provided a $22.5 million lot acquisition and construction loan to Parkland Homebuilders to develop a build-to-rent community in the Warner Robins suburb of Centerville. Parkland Homebuilders is an affiliate of Alpharetta-based Parkland Communities. The developer plans to construct the community in four phases. The first phase of the project will deliver 109 rental homes in two-, three- and four-bedroom layouts. At full build-out, the community will comprise a total of 317 units. A timeline for the project was not disclosed.

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New Amsterdam Apartments in Amsterdam, New York
Affordable HousingDevelopmentFinanceLeasing & MarketingNew YorkNewsNortheastSeniors Housing

State of New York to Provide $406 Million in Financing to Build Five Affordable Housing Developments

by Channing Hamilton

ALBANY, N.Y. — New York Gov. Kathy Hochul has announced that the State of New York will provide $406 million in financing to deliver approximately 800 new affordable housing units across the state. The financing will be awarded through bonds and subsidies. The New York Division of Homes and Community Renewal (HCR) provided financing for the five developments, which comprised $286 million in tax-exempt housing bonds and $120 million in subsidies. The awarded projects are as follows: Income restrictions for these five developments were not disclosed. Hochul’s announcement came during …

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