Market Report

PANHANDLE

11/17 Crimson Ventures acquires Pensacola apartments

Tennessee-based Crimson Ventures has announced that its joint venture partnership with Residential Investment Advisors of Lebanon has bought the 86-unit Hilburn Apartment Homes in Pensacola, for $3.9 million. Read more. 

NORTHEAST 

11/17 400 Apartments Proposed at Deerwood Park

A 400-unit apartment complex is in review for Deerwood Park on land owned by GuideWell Group Inc., the parent company of Florida Blue. Read more.

CENTRAL 

11/15 Insula Cos. Acquires Winter Park community 

Sarasota-based Insula Cos. has reached the milestone of $100 million in property acquisitions this year with the recent purchase of Calibre Bend Apartments in Winter Park. The two-story, 212-unit property was purchased for $29 million. Read more.

BAY AREA 

11/20 Altman Borrows to Build Tampa-Area Property It May Sell to Lender

The Altman Companies of Boca Raton obtained an $18.7 million loan to build a multifamily housing complex in Tampa — and may sell the property to the lender as part of the deal. Atlanta-based Preferred Apartment Communities Inc. (PAC) loaned the $18.7 million to Altman for its planned 392-unit multifamily housing complex, part of a master-planned community in Tampa called Wiregrass. Read more.

11/17 Preferred Apartment Communities Announces Investment in Multifamily Development in Tampa

Preferred Apartment Communities announced that it closed on a loan investment of up to approximately $18.7 million, in connection with The Altman Companies plans to develop a 392-unit multifamily community in Tampa. Read more here and here.

SOUTHEAST

11/14 Greystar buys Henry Torres’ condo-turned-rental project in Little Havana for $89M

In one of Little Havana’s most expensive commercial deals in recent history, Greystar just paid $89 million for the Astor Companies’ newly built InTown apartment complex. Greystar’s purchase covers a pair of 15-story rental towers at 1900 Southwest Eighth St. in Miami that together house 312 units. Read more.

11/10 RAIT Financial sells Miami Gardens apartments for $36M

RAIT Financial Trust has sold a bulk apartment and condo property in Miami Gardens for $36.2 million to a private investor.The 347-unit deal includes 260 apartments and 87 condos within a 412-unit complex at 701 NW 210th St. and 21010 NW Seventh Ave. Read more.

SOUTHWEST

11/20 National developer buys 14 acres, plans apartments near Germain Arena

Continental Properties, based in Wisconsin, has purchased 14 acres from the University Highland Limited Partnership near Miromar Outlets. The property is bound by Estero Parkway, Interstate 75 and Ben Hill Griffin Parkway.Property records show the land sold for $6.78 million. Read more.

TRI-CITY AREA

11/15 TGM Associates Acquires 386-Unit Garden Style Apartment Community in Sarasota

TGM Associates announced the acquisition of TGM University Park, a garden style apartment community with 386 units in Sarasota, FL. The property, completed in two phases 1997 and 2001, is comprised of 19 residential buildings built on a 40.5 acre site. Read more.