Riverland Apartments, located just west of I-95 in Broward County, delivered in 2021

Berkadia announces it has arranged the sale of Riverland Apartments, a brand new, 276-unit garden-style luxury apartment community located in Fort Lauderdale, Fla. Senior Managing Directors Roberto Pesant and Jaret Turkell, along with Associate Director Omar Morales and Senior Financial Analyst Jose Mota of Berkadia Miami, marketed the property on behalf of MORGAN, a Houston-based multifamily investor. The property delivered in July 2021 and was stabilized by December 2021. 

“Housing in Fort Lauderdale, and across most of South Florida and the Sun Belt, has become increasingly more expensive leading to an affordability issue,” said Evan Schlecker, President of MORGAN, based out of MORGAN’s Miami office. “MORGAN is focused on delivering new, Class A rental product at a more attainable price point that is within reach for citizens who are the backbone of their communities.  We have a strong pipeline of similar communities planned across Florida to help add much needed rental product to the existing stock of options that is currently undersupplied. Riverland Apartments is a prime example of the product South Florida needs: surface parked, fully amenitized, with proximity to downtown, transportation corridors and retail.”

“Riverland is uniquely positioned to draft off the demand for housing in or near Downtown Fort Lauderdale while also providing its residents superior connectivity to the region’s major employment hubs,” said Pesant. “The location presents a unique alternative to rapidly increasing downtown Fort Lauderdale rents. This, combined with a rental housing deficit in Broward County,a wave of corporation relocations and expansions to South Florida, have translated into substantial rent growth throughout lease-up.”

Located at 420 SW 27th Avenue, the new gated community consists of six, four-story buildings with a unit mix of 24 studios, 164 one-bedroom, 80 two-bedroom and eight three-bedroom apartments. Apartments offer high-quality finishes with an amenity package that includes contemporary spaces for social gatherings, fitness, business and relaxation. There is a resident business center, internet lounge, clubroom for gatherings, entertaining kitchen, a state-of-the-art fitness center with a virtual fitness studio, and mailroom with parcel lockers. Amenities include a covered seating area with gas grill stations, covered veranda for relaxation, pool pavilions, sunbathing deck, dog park and heated pool that overlooks a lake.

This property is ideally located just minutes from I-95, the Tri-Rail Station and two miles from downtown Fort Lauderdale, placing it within an easy community of some of the largest employment hubs in South Florida.

MORGAN, a leader in upscale multifamily development, construction and property management, has opened Pearl at the Mix in the heart of Houston's Midtown district.

Located at 2910 Milam St., the brand new apartment community sits on the city block bound by Louisiana, Tuam, Milam and Anita Streets. Pearl at the Mix, the second Midtown property that MORGAN has opened in the past two years, is one block away from Pearl Midtown.

Pearl at the Mix is a boutique development consisting of five residential levels above a two-level parking garage. The property's 196 units are a mix of studios, one and two bedrooms. The design is a sleek, modern style featuring Chef inspired kitchens with stainless steel appliances, quartz countertops, shaker style cabinets, under-mount sinks, and custom-wood cabinets with under-cabinet lighting. Apartments also include other premium Pearl amenities, such as spa bathrooms with oval soaking tubs and separate showers, walk-in closets with wood shelving, full-size washers and dryers, Nest thermostats, USB charging ports and floor to ceiling windows.

Pearl at the Mix community amenities include a WiFi-enabled club lounge furnished with a pool table, two classic arcade machines, flat screen TVs, and an oversized patio facing downtown; and an infinity edge swimming pool with private cabanas, lounge seating, a sun shelf, covered outdoor kitchen and grilling stations. A two-story fitness center has a main room with free weights, circuit training, and a variety of cardio equipment that includes two Peloton cycles, as well as a separate flex fitness room that has an iPad connected to a flat screen TV so residents can train using workout apps of their choice.

"Midtown is one of the most walkable neighborhoods in Houston," said Vice President of Development Philip Morgan. "Pearl at the Mix offers residents fantastic amenities and terrific views of downtown, while the surrounding neighborhood is an urban resident's paradise. The new Midtown Superblock park is only one block away and there are a variety of options when it comes to dining, nightlife and the arts. For many who work downtown or in the Med Center, work is a short car, bike or train ride away."

Construction financing was provided for Pearl at the Mix by Cadence Bank.

Check out http://www.pearlatthemix.com for floor plans and more information.

MORGAN, a leader in upscale multifamily development, construction and property management, has opened Pearl Washington, its latest luxury apartment development in Houston. The midrise is conveniently located at the corner of Washington Avenue and T.C. Jester Blvd., surrounded by Washington Avenue's restaurants and nightlife, Memorial Park and the popular Houston Heights neighborhood. Downtown Houston and the Galleria/Uptown are only three miles away.

Pearl Washington contains five stories, with 322 one-, two- and three-bedroom units over two levels of garage parking. All units, which range from 652 square feet to 1,443 square feet, have balconies.

The apartment community features MORGAN's premium Pearl amenities, including open floor plans, high-end wood style floors, quality unit finishes, USB charging ports, Nest thermostats, a business café, state-of-the-art fitness club and private fitness studio. Residents also can enjoy a Vegas-inspired swimming pool with private cabanas and an expansive sun deck overlooking Washington Avenue and downtown. In addition, there are two more courtyards with hammock swings, a bocce ball court, grilling areas, and a dog park.

"Since we started construction on Pearl Washington two years ago, the neighborhood has become an increasingly more attractive place to live," said Vice President of Development Philip Morgan. "With a front door on Washington Avenue, the property is within walking and biking distance to many destinations, including restaurants, bars, coffee shops and Memorial Park. In addition to convenience, we are excited about the type of upscale, eco-friendly amenities that our Pearl brand provides. Residents can have it all at Pearl Washington."

The community was co-developed with LCB Holdings, Inc., and Wells Fargo provided the construction financing.

Pearl Washington floor plans and more information can be found at www.pearlwashingtonapts.com.