Market Report

Market Report

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Fowler Property Acquisitions Acquires 134-Unit Apartment Community in Tallahassee

$6.8 million, or $50,746 per apartment
134 apartments
144,760 square feet
Mix of one, two and three bedrooms with average size of 1,080 square feet
Pool, clubhouse, fitness center, lighted tennis court

CENTRAL FLORIDA

Wood Partners to Break Ground on 312-Unit Alta Eastmar Commons Apartment Community in Orlando

$41.9 million
14 buildings
312 apartment homes plus clubhouse, pool, nature trails through surrounding wetlands
29.3 acres
Projected leasing first quarter of 2016

C&W Brokers Sale of Tortuga Bay Apartments in Orlando

$49,612,000
314 apartment homes
$158,000 per unit, $141.34 per square foot
Oversized clubhouse, state-of-the-art fitness center, zero-entry resort-style pool

CBRE Arranges Sale of 1,075 Unit Multifamily Portfolio in Central Florida

CBRE Capital Markets arranged the sale of the Central Florida Portfolio, four properties totaling 1,075 apartments. The portfolio includes Heritage on Millenia, Summit at Metrowest, and Legends at ChampionsGate, in Orlando; and Vinings at Hunters Green, in Tampa.

Read more here and here

Northland Continues Growth with Acquisition of 316-Unit Luxury Apartment Community in Florida

316 apartments in 21 buildings
Fitness center, business center, areas for barbeques and picnics, pool, athletic courts, garages, wireless Internet
Northland’s Florida portfolio now includes 5,981 apartment homes

CBRE Capital Markets Arranges $40.2 Million Sale of New Rental Community in Central Florida

CBRE Capital Markets arranged the sale of Whitepalm Apartment Homes, a new 306-unit luxury apartment community in Port Orange, about 45 minutes outside of Orlando.

The property was acquired from Birmingham, Alabama-based LIV Development by Carter-Haston Holdings from Nashville for $40,289,500.

CBRE’s Shelton Granade, Luke Wickham and Justin Basquill represented the seller in the transaction.

The gated community includes a large clubhouse, a resort-style pool with cabanas, a serenity beach fully equipped with hammocks, and a state-of-the-art fitness center.

SOUTHWEST FLORIDA

Arbor Terrace Senior Housing Property Sold in Tampa, FL; DTZ Tampa’s Allen McMurtry Represents Seller

$20 million
92 apartment homes: 52 assisted living, 14 transitional memory care, 26 memory care
6.34 acres

Marcus & Millichap Arranges $1.275 Million Sale of 9-Unit Apartment Building in Treasure Island

Marcus & Millichap commercial real estate investment services firm announced the sale of Mont Carlo Apartments, a 9-unit apartment property located in Treasure Island, Mont Carlo Apartments, a nine-unit apartment property located in Treasure Island. The asset sold for $1,275,000.

Crescent Communities Turns Dirt on Luxury Apartment Community in Tampa's Westshore Business District

Crescent Westshore
374 apartments: studios and one-, two- and three-bedroom homes
5.3 acres
2 resort-style, saltwater pools, outdoor grilling area, sports courtyard with full-sized bocce ball court
Projected to open in the summer of 2016

Read more here and here

SOUTHEAST FLORIDA

Casa Palma apartments sold for $89.88 million

Seller: MCA Casa Palma Owners, an affiliate of Boston-based AEW and Orlando-based Zom Holdings
Buyer: Teachers Insurance and Annuity Association of America
350 apartments
17.4 acres
$256,800 per apartment
8,000-square-foot clubhouse, pool, conference room, fitness center, outdoor summer kitchen

AMLI buys second Miami-Dade apartment project for over $100 million

AMLI Residential inked its second $100 million-plus acquisition of a new apartment project in Miami-Dade County this month.

Seller: CC Doral Pebblewalk, an affiliate of Armando Codina’s CC Residential in Coral Gables and New York-based AREA Property Partners
Buyer: PPF AMLI 11481 NW 41st Street LLC, part of Chicago-based AMLI
$103.5 million
352 apartments
$294,034 per unit
Lake, pool, saunas, fitness center, lounge with billiards and game tables, clubhouse.
Leases range from $1,789 to $2,265

Earlier in April, AMLI paid $104.5 million for a new apartment project in Dadeland.

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NexPoint Residential Trust Acquires West Palm Beach Apartment Community for $21 Million

The property, known as Bayberry, was constructed in 1986 and 1987 and consists of 222 one- and two-bedroom residential units. The community offers amenities including a clubhouse with a seating lounge, a pool area with a sundeck, an updated fitness center, two lighted tennis courts, an outdoor lounge and barbecue area and a car care center.

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Apartment project proposed in Doral industrial park

Ram Dev, an affiliate of Peter D. Cummings’ Ram Realty in Palm Beach Gardens, has proposed building a 332-apartment community on 16.4 acres in the Transal Business Park.

Bayberry Apartments in West Palm Beach sold for $21 million

Brokers: ARA Newmark’s Avery Klann, Hampton Beebe, Marc deBaptiste and Dick Donnellan
Seller: Fairfield Haverhill Commons, an affiliate of San Diego-based Fairfield Residential
Buyer: Nxrtbh Bayberry, an affiliate of Des Moines, Iowa-based BH Equities and Dallas-based Highland Capital Management.
222 apartments averaging 902 square feet
$94,595 per unit
19.1 acres
Pool, fitness center, two tennis courts

Dadeland’s Modera apartments sold for $104.5 million

350 apartments averaging 861 square feet
Two 10-story buildings
$298,571 per unit
Seller: Mill Creek Residential affiliate Colonnade at Dadeland Owner
Buyer: PPF AMLI 8250 SW 72nd Court LLC, an affiliate of Chicago-based AMLI Residential Properties
Structured parking, clubhouse, fitness center, cyber cafe, fitness studio, bowling alley, game room, pool