Property Management Deals

CLEARWATER, FLA. (July 3, 2019) – Berkadia has arranged the sale of Turnbury at Countryside, a 350-unit garden-style multifamily property located in Clearwater, Florida. Jason Stanton, Managing Director of Berkadia’s Tampa office and Senior Managing Director Cole Whitaker of Berkadia’s Orlando office arranged the sale on behalf of McKinley Companies LLC. MLG Capital purchased the property. “This property was acquired on a loan assumption basis and represented a great valueadd opportunity in a central Clearwater infill location, close to major employers and demand drivers,” said Stanton. Built in 1974 on 15 acres at 25350 U.S. Highway N. 19, Turnbury at Countryside consists of studio, one-, two- and three-bedroom apartments, averaging 839 square feet. Individual units feature central air conditioning and heat, screened-in private balconies or patios, and washer-dryer connections. The community offers two swimming pools, a dog park, tennis court, a sand volleyball court, 24-hour fitness center and Wi-Fi sundeck. Turnbury at Countryside is located seven miles from downtown Clearwater, close to Interstate 19, providing residents easy access to a diverse mix of shopping, dining, and entertainment options. Mease Countryside Hospital, a major employer in the area, is underway on a $156 million expansion project. Other major employers in the area includes Tech Data’s headquarters and Lincare Holdings, Inc. 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.

Atlanta, Ga. – Stonemark Management is now managing Cumberland Crossing Apartments, in Marietta, Ga. 29th Street Capital, which recently acquired the 286-unit property, appointed Stonemark to manage and lease the community.  Stonemark will also oversee a capital program to renovate the interiors, upgrade the amenities and enhance curb appeal.

Multifamily industry leader takes on seven new community assignments in North Carolina and South Florida

Pathway to Living, a Chicago-based developer, owner and operator of senior living communities, today announced the start of pre-leasing at Heartis Village of Brookfield, a 104-unit assisted living and memory support community in Brookfield, Wis. Situated on 10 acres at 16100 W. Greenfield Ave., about 12 miles west of Milwaukee, the community is scheduled to open in September 2019.

CAPREIT, a fully-integrated real estate operating company responsible for the ownership and management of more than $5 billion of multifamily assets, today announced it has taken over management responsibilities of Broadway West, a senior affordable apartment community in Suffolk County.

Allied Orion Group has been selected to manage The Heights at 2121, a 504-unit apartment community located minutes from Houston’s historic Heights neighborhood. The firm continues to expand its management portfolio across Houston and the nation.

KW Property Management & Consulting’s (KWPMC) expansion within Miami’s Brickell neighborhood is surging with the addition of Brickell Heights residential and commercial associations to the company’s luxury portfolio.

AUSTIN, TX - Capstone Real Estate Services Inc., has been awarded management of the following Apartment Communities, completing 10 Takeovers for in September and October 2018:

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