Market Report

PANHANDLE

12/17 New Yorkers buy Tallahassee rentals for $58K each

Commercial brokerage Marcus & Millichap announced the sale of a Tallahassee apartment complex for $58,854 per unit. The 96-unit Pines Apartment Homes at 3801 Mission Trace Boulevard in northwest Tallahassee sold for $5.65 million. Read more.

CENTRAL 

1/26 Shepherd Health acquires Countryside Lakes Senior Living Community in Port Orange

Shepherd Health, a Miami-based real estate development company, has purchased Countryside Lakes, a 146 Unit Independent and Assisted Living community in Port Orange. Read more.

12/20 Bluerock Residential Growth REIT acquires 320-Unit apartment property in Port St. Lucie

Bluerock Residential Growth REIT Inc. has acquired the 320-unit, multifamily Apex Prima Vista Apartments ("Apex") in Port St. Lucie. The company acquired the property through a joint venture for a total purchase price of approximately $38.3 million, or approximately $120,000 per unit. Read more.

12/19 3 Orlando-area apartment communities sell for a combined $107M

A Windermere apartment community sold for $56 million, the second time it's changed hands in less than two years.The transaction was was part of a $242 million portfolio purchase, which included six properties with a total of 1,460 apartment units in Florida and Texas. Read more.

12/18 Central Florida rentals sold fast to California buyer

NNN Advisors announced the $2.05 million sale of a 38-unit apartment complex in Central Florida that spent two days on the market before going under contract. Read more.

12/15 Avesta Communities raises $2.25M Via RealtyShares Crowdfunding Marketplace to Diversify Capital Investment in Orlando Apartment Community

RealtyShares today announced that its community of investors has raised $2.25 million to recapitalize and fund the renovation of Avesta Bridgewater, a 344-unit apartment community in Orlando. The deal is sponsored by Avesta Communities, a vertically integrated multifamily owner-operator specializing in apartments serving the middle-income renter. Read more.

12/1 Robbins Electra acquires 296-Unit Enclave at Lake Ellenor Apartment Community in Orlando

Robbins Electra, a national multifamily owner-operator, has purchased a 296-unit apartment complex in Orlando. The asset, collectively known as Lake Ellenor, was acquired from Timbercreek Fund and will be rebranded as Enclave at Lake Ellenor. Read more.

BAY AREA 

1/19 New high-rise apartment building opens its doors to high demand in Tampa’s Harbour Island

New high-end apartment living has been introduced to Harbour Island. 500 Harbour Island, located at 500 Knights Run Ave. on Harbour Island in Tampa, is open for leasing, offering the latest in luxury, design and services to apartment residents. Read more. 

12/19 ZOM Florida breaks ground on luxury garden apartments in Tampa

ZOM Florida, in partnership with affiliates of The Mattoni Group and New York-based Clarion Partners LLC on behalf of a commingled fund managed by the firm, recently broke ground on Azola at Magnolia Park, a 366-unit multifamily apartment community located on Progress Boulevard near the Interstate 75/Highway 301 interchange and South Falkenburg Road. Read more.

SOUTHEAST

1/24 Greystone tops-off Its newest luxury multifamily development in Hot Miami Submarket

Greystone Development’s 14-story mixed-use building, The Aura, at 1501 SW 37th Ave in Coral Gables, has achieved a significant construction milestone, announcing it has topped off. Read more. 

1/6 Alliance Residential targeting renter by choice with opening of 800 apartment homes in South Florida

In early 2017, the nation's largest multifamily developer, Alliance Residential Company, will open two of its signature Broadstone properties for the South Florida renter by choice – the elegant waterfront Broadstone Harbor Beach in Fort Lauderdale and swanky 24-story Broadstone at Brickell in Miami's financial district. Read more.

1/4 Morgan opens 421-Unit Pearl Dadeland Luxury Apartment Community in Miami

Morgan, a leader in upscale multifamily development, construction and property management, has started leasing Pearl Dadeland in Miami, its latest premium Pearl community. The eight-story, 412-unit project is a joint venture between Morgan and Invesco. Read more.

12/19 Pollack Shores makes waves in Boynton Beach with $109M apartment purchase

The Pollack Shores Investment Group just bought a Boynton Beach apartment complex for $109 million. County records show Pollack took Boynton’s Las Ventanas apartments off the hands of partners Epoch Properties and Prudential Insurance Company for $221,275 per unit. Read more.