Tampa, Fla. (July 3, 2019) – Berkadia announces it has arranged the fractured condo sale of 379 units at Stillwater Palms, a multifamily asset with 432 condominiums in the Palm Harbor area of Tampa, Florida. Managing Director Jason Stanton of Berkadia’s Tampa office and Senior Managing Director Cole Whitaker of Berkadia’s Orlando office arranged the transaction on behalf of the seller, Aspen Square Management. The buyer was Laramar Group. “The asset demonstrated strong upside potential after the previous owner carried out strategic renovations throughout the property,” said Stanton. “With Tampa Bay’s population expected to advance by 6.5 percent and an expanding mix of employment opportunities available, the multifamily market is poised for continued growth that will complement value-add investments.” Built in 1985 and renovated in 2017, Stillwater Palms is located at 2350 Cypress Pond Road. One- and two-bedroom units include a breakfast bar, full size washer and dryer, stainless steel appliances, stainless steel microwaves, and spacious closets with built-in shelving. Community amenities include a 24-hour fitness center, cabanas, cardio equipment, pergola, hammocks, playground, resort-style pool and picnic areas. Located in the Palm Harbor area of Tampa, Stillwater Palms is found near a variety of employment and retail hubs and is less than 5 minutes away from US-19, offering direct access into Tampa. Employers such as Nationwide Title Clearing Inc. and Florida Hospital North Pinellas are also less than 10 minutes away, supporting almost 1,000 jobs in the area. About Berkadia®: Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets. To learn more about Berkadia, please visit www.berkadia.com.

Miami, Fla.  – Franklin Street has negotiated the sale of Marlin Manor Apartments, a 24-unit rental community located at 1528 NW 3rd Avenue in the Little Havana submarket of Miami, Fla.  

Hernando Perez and Oscar Banegas of Franklin Street’s Miami multifamily investment sales team represented  the seller, 1528 NW 3rd Street, LLC, in the transaction. GW Little Havana, LLC, a local operator, acquired the property for $3.01 million, or $125,416 per unit.

“There’s still foreign money pouring into the Miami market, and investors haven’t lost their strong appetite for multifamily investments in South Florida,” said Perez, director at Franklin Street.  “This property was purchased by a foreign private family office that is importing capital into the U.S. and seeking the security, stability and cashflow of multi-housing real estate investments.”

Built in 1923, Marlin Manor is ideally located across the street from Marlins Park, home of the Miami Marlins baseball team.  The building recently underwent a full rehab with over $500,000 in renovations including a new roof, remodeled kitchens with stainless steel appliances, modern bathroom vanities and new PVC flooring throughout. Additionally, a new laundry room and upgraded fire alarm systems were installed.

KANSAS CITY, KS – Affordable Housing Investment Brokerage recently brokered Silver City Apartments, in Kansas City, Kansas for $8,900,000. Dan Piatkowski with Affordable Housing Investment Brokerage, Inc. worked collectively with the buyer and seller to complete the transaction. The purchasing group was a partnership between Skylline LLC and ND Consulting while the seller was Commercial Group, a Topeka, Kansas based owner and operator. 

TruAmerica Multifamily, in joint venture with RSE Capital Partners, has acquired a two-property, 454-unit multifamily portfolio in the Tampa submarket of Pinellas County for $63.75 million.

HOUSTON – Berkadia announces it has arranged the sale and financing of Vargos on the Lake, a 276-unit multifamily asset in Houston. Senior Managing Director Ryan Epstein and Director Jennifer Ray of Berkadia’s Houston office represented the seller, Hunington Properties, Inc. Senior Managing Director Cutt Ableson of the same office secured the financing on behalf of the buyer, Berkshire Residential Investments.

PHILADELPHIA, PA – July 1, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the sale of and secured financing for Riverwalk at Millennium, a 375-unit, transit-oriented multi-housing community in the Philadelphia-area suburb of Conshohocken, Pennsylvania.

Tampa, Fla. – American Landmark, one of the fastest-growing multifamily owner-operators in the country, and JV partner, RSE Capital Partners, one of the most active multifamily investors in the country, have acquired a five-property multifamily portfolio with assets in Texas and Tennessee. The 1,848-unit portfolio includes apartment communities in the Dallas-Fort Worth market and the Nashville suburb of Hendersonville, Tennessee. American Landmark acquired the portfolio for $246.77 million in a privately negotiated off-market transaction.

CHARLOTTE, NC – June 28, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the $46.5 million sale of Bainbridge Lake Crabtree, a 200-unit, mid-rise apartment community in Morrisville, North Carolina.

TAMPA, Fla. –Berkadia announces it has arranged the sale of LakeBridge Apartments, a 400-unit multifamily property located in Tampa, Florida. Managing Director Jason Stanton of Berkadia’s Tampa office and Senior Managing Director Cole Whitaker of Berkadia’s Orlando office arranged the $44.4 million sale on behalf of the seller, Insula Companies, and the buyer facilitator, Blue Roc Premier Properties.