Tuesday, July 15, 2025
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AcquisitionsFloridaGeorgiaNorth CarolinaRetailSoutheast

Marcus & Millichap Facilitates 10-Property Portfolio Sale of Dollar General-Leased Stores in the Southeast

by John Nelson

ATLANTA — The Taylor McMinn Retail Group of Marcus & Millichap in Atlanta has brokered the sale of a 10-store portfolio in North Carolina, Georgia and Florida. Each store is triple-net leased to Dollar General for an average lease term of 13 years remaining. The undisclosed seller was an institution and the buyers were all individual private investors who paid an average of 97 percent of list price, according to Don McMinn of the Taylor McMinn Retail Group. “This portfolio sale showcases our team’s ability to achieve above-market pricing by leveraging our track record, network and platform in spite of challenging market conditions,” says McMinn.

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FloridaLoansLouisianaSouth CarolinaSoutheastStudent Housing

JLL Secures Refinancings for Three Southeast Student Housing Communities Totaling $134.9M

by John Nelson

TAMPA, FLA. — JLL Capital Markets has secured refinancings totaling a combined $134.9 million for three student housing communities across the Southeast. Lee Weaver, Melissa Marcolini Quinn, Rob Rothaug and Jade Starkey of JLL worked on behalf of Commercial Street Partners to secure a $97.5 million refinancing for Apella on Newport in Tampa. The three-year, floating-rate loan was placed through MF1/Limekiln Real Estate Investment Management. The newly constructed community spans 195,076 square feet at 311 North Newport Ave. near the University of Tampa campus. The property offers 576 beds across 150 fully furnished units in two-, three-, four- and six-bedroom configurations. Shared amenities include a rooftop pool, fitness center, study lounges and secured garage parking.  Weaver and Quinn, along with Kenny Cutler, Rob Rothaug and Cristian Sieman of JLL, also secured a $22 million refinancing for Preserve at Tech near Louisiana Tech University in Ruston, La. Prime Finance provided the two-year, floating-rate loan to borrower RISE: A Real Estate Co. Completed in 2021 at 1913 West Alabama Ave., the community offers 588 beds across 168 units in three- and four-bedroom configurations. Shared amenities include a resort-style pool, 24-hour clubhouse, computer lab, fitness center and a gaming lounge.  JLL also worked on …

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AcquisitionsFloridaLeasing ActivityOfficeSoutheast

JLL Arranges $40M Sale-Leaseback of Office, TV Studio Building in West Palm Beach

by John Nelson

WEST PALM BEACH, FLA. — JLL Capital Markets has arranged the $40 million sale-leaseback of 1100 Banyan, a 70,131-square-foot office and TV studio building in West Palm Beach. Simon Banke, Matt McCormack, Joe Judge and Anna Schaffer of JLL represented the seller, The E.W. Scripps Co., and procured the buyer, a joint venture between Related Ross, Wexford Real Estate Investors and Key International. Cincinnati-based Scripps is leasing the entire property from the new ownership for a minimum of 2.5 years.  Completed in 2000, 1100 Banyan is a two-story building that houses Scripps’ WPTV news studio and office space. The fully leased property also includes a 170-space parking garage and 33 surface parking spaces.

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DevelopmentFloridaHospitalitySoutheast

Moss Completes 248-Room Opal Sol Luxury Resort & Spa in Clearwater Beach, Florida

by John Nelson

CLEARWATER BEACH, FLA. — Moss has completed Opal Sol, a 680,000-square-foot luxury resort and spa located in Clearwater Beach. Designed by Nichols Architects, Opal Sol offers 248 suites with private balconies, three elevated decks, a spa with a full-service salt room and fitness center, four ballrooms, future retail storefronts along the Beach Walk and four restaurants, including Drift, Lolita’s, Beach Market and Toast. Additionally, an elevated pedestrian bridge now connects Opal Sol to its sister property, Opal Sands. The hotels within the Opal Collection offer a combined 125,000 square feet of indoor meeting space, plus 55,000 square feet of outdoor space with roughly 800 rooms and parking for over 1,000 vehicles in the Clearwater Beach market.

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DevelopmentFloridaLoansMultifamilySoutheast

13th Floor, JSB Capital Group Obtain $67.5M Construction Loan for Multifamily Project in Davie, Florida

by John Nelson

DAVIE, FLA. — A joint venture between 13th Floor Investments and JSB Capital Group has obtained a $67.5 million construction loan for Parks at Davie, a 383-unit multifamily project in the north Miami suburb of Davie. Santander Bank provided the loan. Peter Mekras of Aztec Group advised the joint venture on the capitalization, which also included an undisclosed amount of preferred equity from Houston-based Marble Capital. Designed by Corwil Architects, Parks at Davie will feature studio, one-, two- and three-bedroom units ranging in size from 568 square feet to 1,415 square feet. Amenities at the property will include a clubhouse with a resort-style pool, fitness center, business center with coworking areas and about 6,200 square feet of ground floor retail space. The site for Parks at Davie is located on the east side of Broward College’s Davie campus near the Florida Turnpike. 13th Floor and JSB Capital expect to break ground later this month, with completion slated for 2027.

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DevelopmentFloridaMultifamilySoutheast

Vista Residential Breaks Ground on 221-Unit Multifamily Development in Palm Beach Gardens, Florida

by John Nelson

PALM BEACH GARDENS, FLA. — Vista Residential Partners has broken ground on Gardens Vista, a 221-unit multifamily development located in the South Florida city of Palm Beach Gardens. Situated on 6.7 acres, Gardens Vista is less than one mile from Gardens Mall and the Nova Southeastern University campus. Atlanta-based Niles Bolton Associates is designing the project. The four-story, Spanish colonial-styled community will offer 131 one-bedroom, 68 two-bedroom and 22 three-bedroom apartments, with 10 percent of its units designated as workforce housing. Amenities at the complex will include a resort-style swimming pool, gym, two pickleball courts, interactive game room, coworking spaces, 24/7 package concierge, electric vehicle charging stations, dog park and a nature preserve.  Vista Residential has partnered with a global asset manager representing an unspecified state-sponsored pension fund, as well as a Midwest insurance company, for the financing of the development.

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FloridaLeasing ActivityRestaurantRetailSoutheast

Edens Revitalizes Downtown Palm Beach Gardens Development With 13 New Retailers, Capital Improvements

by John Nelson

PALM BEACH GARDENS, FLA. — Edens has added a new wave of retailers to join the roster at Downtown Palm Beach Gardens, a 403,000-square-foot open-air retail center in Palm Beach Gardens. Recently opened concepts include Skin Laundry, MeTime Salon, TINA Stephens, ZOE Boutique and Vagabond Kids Apparel. Committed tenants that will open soon include Pura Vida Miami, Crew Factory, Sweathouz, Tweeds Custom Suits, Humanaut Health, Van Leeuwen Ice Cream, Muse Paint Bar and Laser Away. Existing tenants include Whole Foods Market, REI, CMX Cinemas, Life Time Fitness, The Cheesecake Factory, Sweetgreen and Yard House, among others. In addition to the new retail concepts, Edens has revitalized Downtown Palm Beach Gardens with facade work, new decorative elements, landscaping, signage and outdoor furniture at the development’s “Northern Strand” area near the REI and CMX Cinemas. Other improvements include installing five new interactive digital directories and adding a cut-through running east-west through the development.

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DevelopmentFloridaLoansMultifamilySoutheast

Centennial Bank Provides $17.5M Construction Loan for One Daytona Multifamily Project in Florida

by John Nelson

DAYTONA BEACH, FLA. — Centennial Bank has provided a $17.5 million construction loan for The Edge Collection at Icon One Daytona, a 129-unit apartment community located at 200 Daytona Blvd. in Daytona Beach. The midrise property is part of One Daytona, NASCAR’s master development across from Daytona International Speedway that includes residential options and two hotels, including The Daytona, a Marriott Autograph Collection Hotel. Centennial Bank provided the loan for Daytona Apartment Holdings II LLC, an entity owned by Prime Hospitality Group. The developer plans to deliver The Edge Collection at Icon One Daytona later this month.

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DevelopmentFloridaLoansMultifamilySoutheast

MG Developer Obtains $105M Construction Loan for Multifamily Development in Hialeah, Florida

by John Nelson

HIALEAH, FLA. — MG Developer has obtained a $105 million construction loan for Metro Parc South, a 347-unit apartment community located at 954 and 934 E. 25th St. in Hialeah, a suburb of Miami. The multifamily project will be part of MG Developer’s 2.3 million-square-foot Metro Center master project that also includes the 10-story Metro Parc tower, the 55-unit Metro Station and the 620-unit Metro Parc North community. New York-based SCALE Lending, the debt financing arm of Slate Property Group, provided the new loan to MG Developer, which plans to break ground on Metro Parc South in the second quarter. Tal Bar-Or, David Strongwater and Parker Thelander of Lantern Real Estate arranged the financing. The development will comprise studio, one- and two-bedroom apartments. The design-build team includes Miami-based Modis Architects and Coral Gables-based KAST Construction.

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Affordable HousingDevelopmentFloridaMultifamilySoutheast

Pinnacle Opens 215-Unit Affordable Housing Community in South Miami-Dade County

by John Nelson

PRINCETON, FLA. — Miami-based Pinnacle has opened Pinnacle at Tropical Pointe, a new 215-unit affordable housing community located at 25155 S.W. 136th Ave. in Princeton, a city in south Miami-Dade County. The property features a mix of one- to four-bedroom apartments spread across six garden-style buildings, with amenities including a swimming pool, fitness center, business center and a playground. The community is designated for households earning up to 60 percent of the area median income. Pinnacle’s capital partners on the project included Bank of America, the Florida Housing Finance Corp., Miami-Dade County and Citibank.

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