PLANT CITY, FLA. — Alliance Residential Co. has acquired a 15-acre parcel in Plant City, approximately 25 miles northeast of Tampa, with plans to develop a new multifamily project at the site. Dubbed Prose Carmina, the development will total 360 one- and two-bedroom apartments ranging in size from 746 to 1,078 square feet. Amenities at the community will include a swimming pool with sun-shelf seating, a playground, dog park, clubroom with a catering kitchen and entertainment lounge, fitness center and a business center with coworking spaces. Move-ins are scheduled to begin in early 2026. The project team includes architect Hensley Lamkin Rachel and civil engineer Halff Associates. Mark Eilers and John Ruscigno of Colliers brokered the land sale.
OCOEE, FLA. — Berkadia has provided a $54.7 million Freddie Mac loan for the refinancing of Advenir at the Oaks, a multifamily community located in Ocoee, roughly 10 miles outside Orlando. Charles Foschini, Christopher Apone, Lourdes Carranza-Alvarez and Shannon Wilson of Berkadia originated the five-year, fixed-rate loan on behalf of the borrower, an entity doing business as Advenir@The Oaks LLC. Built in two phases between 1989 and 1991, Advenir at the Oaks offers one-, two- and three-bedroom apartments. Amenities at the community include swimming pools, a clubhouse with a 24-hour fitness center and business center, a dog park, two laundry facilities, a playground and tennis/pickleball and basketball courts.
IRVINE, CALIF. — CoreLogic, a real estate information and analytics firm based in Irvine, has estimated that real estate property damages stemming from Hurricane Helene will fall between $30.5 billion to $47.5 billion. The storm made landfall around 11 pm on Thursday, Sept. 26 near Perry, Fla., and made its way through several Southeastern states, with its damage especially severe in western North Carolina. According to several national media outlets, the death toll from the storm stands at 227 across six states as of this writing with an unknown number reported missing. CoreLogic’s calculations include both residential and commercial real estate properties as well as automobiles in 16 states, but excludes damage to personal marine craft, offshore infrastructure, governmental structures and infrastructure such as roads and bridges. CoreLogic tabulates that losses from wind damage will fall between $4.5 billion to $6.5 billion; insured flood damage, both for inland flood situations and storm surges, will range from $1.5 billion to $4.5 billion for privately insured properties and $4.5 billion to $6.5 billion from the Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP); and $20 billion to $30 billion in uninsured floor damage. Insured loss represents the amount insurers and …
BRANDON, FLA. — American Landmark Apartments has acquired Courtney Trace & The Addison, a 455-unit multifamily community located at 1131 Courtney Trace Drive and 251 Annapolis Way in Brandon, about 13 miles east of Tampa. The locally based buyer will rebrand the property as “The Griffin” moving forward. American Landmark also plans to implement $7 million of upgrades at the community, including a new dog park, updates to the clubhouse and fitness center, improvements to the pool and outdoor areas and the addition of electric vehicle charging stations. Interior units will also undergo substantial renovations. The seller and sales price were not disclosed.
PANAMA CITY BEACH, FLA. — Walker & Dunlop has arranged a $72.8 million construction loan for Vintage Lake Powell, a 289-unit apartment development located at 24000 Panama City Beach Parkway in Panama City Beach. Keith Melton and David Strange of Walker & Dunlop originated the HUD 221(d)(4) loan on behalf of the developers, Oldacre McDonald LLC and TDK Construction LLC. Planned amenities at Vintage Lake Powell include a clubhouse and leasing center, fitness facility, package/storage center, resort-style pool and sundeck, arbor with outdoor seating and grilling station, pickleball and bocce ball court, playground, dog park and a lakefront amenity area on Lake Powell. Additionally, the property will include 19,783 square feet of ground-level retail spaces fronting Panama City Beach Parkway. The construction timeline was not disclosed.
ST. JOHNS, FLA. — SRS Real Estate Partners has brokered the $6.5 million sale of Parkway Place Shoppes, a new strip retail center located at 1385 St. Johns Parkway in the Jacksonville suburb of St. Johns. KidStrong, Oola Mala Restaurant, Tsaocaa Tea, Benjamin Moore and Planet Smoothie fully occupy the 11,685-square-foot property on new 10-year, triple-net leases. Patrick Nutt, William Wamble and Daniel Becker of SRS represented the seller, a Florida-based private development company, in the sale. The buyer was a private investor from New York that purchased the center in a 1031 exchange.
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Universities, Student Housing Properties in Southeast Contend with Hurricane Helene
Hurricane Helene made landfall in Northwestern Florida on Thursday, Sept. 26, after being upgraded to a major Category 3 storm that afternoon. Widespread damage across a number of Southeastern states followed in its wake, with many areas experiencing flooding, downed trees, power outages and road closures. At least 175 people have died across six states, according to reports by CNN and The New York Times, and officials fear that the death toll is likely to rise with many remaining missing. Hundreds of roads remain closed across the Southeast — especially in Western North Carolina and East Tennessee, which were hit particularly hard by the hurricane — hampering the delivery of supplies, and more than 2 million customers remain without power. Student Housing Business reached out to universities, owners, operators and students across the Southeast to check in on how they fared during the storm and their experience in the aftermath. Owners, Operators Weigh In Denver-based Cardinal Group tracked its communities in Alabama, Arkansas, Florida, Georgia, Kentucky, North Carolina, South Carolina, Tennessee, Virginia and West Virginia through Hurricane Helene. “Of those communities, four experienced power outages and several had minor roof leaks and flooding, with the largest impact felt in Asheville and Boone, North Carolina,” says Jenn Cassidy, president of property operations …
ORLANDO, FLA. — Beachwold Residential LLC has purchased Avisa Lakes, a 292-unit, garden-style multifamily community located at 7960 Pine Crossing Circle in Orlando. Kyle Butler, Ted Taylor and Noli Muratovic of JLL represented the sellers, Lloyd Jones LLC and ST Real Estate Holding Inc., and procured the buyer in the $50 million sale. Additionally, JLL worked on behalf of Beachwold to secure a five-year Freddie Mac acquisition loan totaling $35 million. Avisa Lakes features one- and two-bedroom apartments averaging 850 square feet in size. The property was 96 percent occupied at the time of sale. Community amenities include a playground, swimming pool, entertainment clubhouse and game room, two dog parks, a soccer court, fitness center and a business center.
BOYNTON BEACH, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $31 million sale of Village Square at Golf, a 135,133-square-foot shopping center located in Boynton Beach. KC Market anchors the property, which was built in 1983 and renovated in 2012. Other tenants at the center, which was 93 percent occupied at the time of sale, include Enterprise Rent-A-Car, Quest Diagnostics, The UPS Store, Boynton Quality Medical Center and Anthony’s Ladies’ Apparel. Kirk Olson and Drew Kristol of IPA represented the seller, a publicly traded REIT, in the transaction. The buyer was not disclosed.
TAMPA, FLA. — Plaza Advisors has arranged the $12.6 million sale of Fowler Plaza South, a 57,093-square-foot shopping center in Tampa. The property was 97 percent leased at the time of sale to tenants including Dollar General, Champs Sports, AT&T, Jimmy John’s, Foot Locker and Amscot. Fowler Plaza South is located less than a half-mile west of the University of South Florida and across the street from Rithm, the ongoing mixed-use redevelopment project of the former University Mall. Jim Michalak and Jeff Berkezchuk of Plaza Advisors represented the seller, SJS Realty Management, in the transaction. The buyer was not disclosed.