Market Report

• PANHANDLE

• NORTHEAST

12/6 Indiana developer plans Atlantic Beach rental project

An Indiana-based development company plans to spend more than $12 million to build a 156-unit gated apartment complex in Atlantic Beach, an oceanfront town just east of Jacksonville. Read more.

11/19 Nonprofit planning apartments for homeless sues Jacksonville, claiming fair housing, ADA violations 

A Jacksonville nonprofit whose plan to open an apartment building for homeless people alarmed Springfield activists is suing the city for blocking its project.Ability Housing of Northeast Florida argues the city violated the federal Fair Housing Act and the Americans with Disabilities Act by refusing to grant paperwork called a certificate of use for its project. Read more.

• NORTH CENTRAL

 

• CENTRAL FLORIDA

12/9 GoldOller Real Estate Investments Acquires Bonita Fountains Apartments in Orlando for $42.75 Million

GoldOller Real Estate Investments announced its fourth major acquisition in 2015 with the purchase of the 560 unit Bonita Fountains Apartments in Orlando. GoldOller acquired Bonita Fountains Apartments for $42.75 million and intends to invest substantially in both common area improvements and unit upgrades to enhance this resort-style rental community in Southwest Orlando.  Read more.

11/25 Osceola County moves ahead with multifamily housing to help homeless

Osceola County commissioners later this month expect to close on the purchase of property north of U.S. Highway 192 near Medieval Times where two phases of low-cost, multifamily housing units will be built, each with 100 units.County commissioners approved the purchase of the Yates Property for $525,000 earlier this year and selected Parramore Construction Co. Inc. of Kissimmee to oversee the project. Read more. 

 

• BAY AREA

12/15 Vintage 1971 Community Wins $48,000 Per Unit

Garden Isles Apartment Homes, a 300-unit multifamily community in Tampa, has traded hands. The sale price: $14.3 million, or about $48,000 a unit. Marcus & Millichap vice president of investments Frank Carriera and first vice president of investments Michael Regan represented the seller, Garden Isles Management. The duo also secured the buyer, Blue Rock Partners.

11/24 Wood Partners Acquires Land for New Luxury Apartment Development in Greater Tampa Area

Wood Partners real estate development and acquisition firm announced that it had closed last month on a 19.32-acre site in southern Hillsborough County where a new luxury apartment community is currently under construction by the developer. Read more.

11/23 5 Tampa-Area Communities Sell in 5 Days for $50 Million

Franklin senior director Kevin Kelleher, managing directors Darron Kattan and Robert Goldfinger, and director Zachary Ames brokered the multifamily deals. According to the company, all of the multifamily communities are located in close to Tampa’s major employment centers and have strong potential for rent growth and added value through capital improvements. Read more.

• TRI-CITY AREA

11/23 Approvals sought for multifamily or assisted living facility, offices near Lakewood Ranch

EAST MANATEE -- Developer Carlos Beruff is seeking approvals to build 66,800 square feet of commercial space, and either a 234-bed assisted living facility or 200 units of multifamily housing at Professional Center at Lakewood Ranch, 8945 77th Terrace E. Beruff is seeking to complete construction of a business park started by another developer whose permits expired in 2012. Read more.

• SOUTHEAST FLORIDA

12/15 Park Partners Residential Awarded Management of Alta Congress Apartment Community

Park Partners Residential has announced that the company has been awarded the management of Alta Congress, 250 Congress Park Drive in Delray Beach. Read more.

12/8 Greystar Sells South Florida Property to Blackstone as Part of Portfolio Deal

The nation’s largest apartment operator, Greystar Real Estate Partners, has agreed to sell a 32-property, 10,399-unit multifamily portfolio to New York City–based investment firm Blackstone Group for $2 billion, Multifamily Executive reported. The portfolio consists of a mix of mid-rise, high-rise, and garden-style apartment buildings, with properties located across the country, including the Seattle, San Francisco, Los Angeles, South Florida, New York, and Boston metros. Read more.

11/30 Waterton Buys Fort Lauderdale Apartments for $94M

Waterton, a Chicago-based real estate investor and operator, has acquired Port Royale, a 553-unit garden-style apartment community in Fort Lauderdale, Fla., for $94 million from Dallas-based Mill Creek Residential. The property is along the Intracoastal Waterway. Read more. 

11/20 2 Miami Communities Sell for $90K-plus per Unit

Located at 2741 and 2749 Southwest 5th Street, the multifamily assets were originally constructed in 1925 and 1927. Juan C. Alarcon, a local investor represented byLuis Osio of Oasis International Realty Group, acquired the assets. Manuel Cruz sold the multifamily properties. Read more.

• SOUTHWEST FLORIDA