Market Report

NORTH CENTRAL

9/19 Six-story Apartment Building Coming to Church Property

Midtown Apartments will include 589 by-the-bedroom rentals in 310 apartments; a seven-deck, 550-space central parking garage, and about 15,000 square feet of retail space covering the 1700 block of Northwest First Avenue, north of the University of Florida campus. Read more. 

 

CENTRAL

9/20 Carroll Organization Continues to Invest in Orlando’s Strong Multifamily Market with 298-Unit Acquisition

Carroll Organization, one of the country’s leading privately held real estate companies focused on multifamily investment, management, and development announced that it has acquired ARIUM Bala Sands, a 298-unit multifamily community in Orlando, as part of its newest investment vehicle, Carroll Multifamily Real Estate Fund IV, LP. Read more.  

9/15 Portfolio Lender Closes $20.5 Million Financing Package for 115-Unit Orlando Apartment Community

Pembrook Capital Management closed $20.5 million of financing for the acquisition of Silver Oaks Apartments, a 320-unit rental apartment complex for low and moderate income families located in Orlando, and for the renovation of 115 units at the property over the next two years. Read more. 

9/14 Mill Creek Residential Starts Construction on 350-Unit Luxury High-Rise Apartment Community in Orlando

Mill Creek Residential, a leading multifamily investor and operator specializing in premier apartment communities across the U.S., announces the start of construction on Modera by Mill Creek, Central. The community is projected to debut in the fall of 2018 as a mixed-use residential and retail community in the Downtown Orlando area. Read more.

 

BAY AREA 

8/31 136-Unit Community in Tampa Metro Area Sells for $8.6M

Marcus & Millichap has recently announced the $8.6 million sale of a 112,552-square-foot multifamily community known as Ridgestone Apartments in Hudson, a suburb of Tampa. Read more.

 

TRI-CITY AREA

9/15 Connect Bradenton Submits Sole Proposal to Transform Old Jail building into Housing 

Manatee County’s Old Jail building could be transformed into multifamily housing and potentially some commercial space after the county received one response to its proposal to turn the vacant building into housing. Read more.

8/29 400-unit Apartment Community Sells for $75M

A California company has bought ParkCrest Landings, a 400-unit multifamily community in Bradenton, for $75 million, the company said. The community at 5725 1st Ave. E. in Bradenton, has 67 acres, including 9 acres of lakes and 40 acres of nature preserves along a tributary of the Manatee River. Read more.
 

SOUTHEAST

9/12 Richman Signature Properties Announces Two Property Openings in South Florida this Fall

Richman Signature Properties, a leader in luxury apartment communities, announced fall openings for two new properties that are reimagining rental living in South Florida. Azura in Kendall is set to welcome its first residents on Sept. 1, and Portico in Sunrise will open Nov. 1. Read more.

9/7 Developer Plans Apartment Tower After Buying Downtown Miami Site

The Meyers Group paid $4.7 million for a vacant site in downtown Miami and has proposed an apartment building there. KMA USA Real Property Investments, managed by Menzel Amin Avendano, Karina Amin Avendano, and Maria Del Rosario Amin Avendano, sold the 22,500-square-foot site at 525 and 533 N.W. 2nd Ave. to the Coral Gables-based developer led by Chairman and CEO Stuart I. Meyers. The price equated to $209 per square foot. Read more.

9/6 145-unit Apartment Community Planned for Pompano Beach

A Coral Gables-based developer plans to build an eight-story, 145-unit apartment building in Pompano Beach. An affiliate of The Meyers Group bought the .8-acre site at the southeast corner of Northeast Fourth Street and Northeast 20th Avenue for $5 million. The seller was 225 North Federal Highway LLC, a company managed by Scott Brenner, president of Brenner Real Estate Group. Read more.