Thursday, October 16, 2025
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FloridaLoansMultifamilySoutheast

Mesa West Capital Originates $66.3M Refinancing for New Apartment Community in Orlando

by John Nelson

ORLANDO, FLA. — Mesa West Capital has originated a $66.3 million loan for the refinancing of Nova at East Park Village, a newly constructed, 264-unit apartment community located at 10403 Via Parco Orienta in Orlando. Brian Hahn, Russell Frahm and Brad McCarthy of Mesa West Capital’s New York team originated the floating-rate loan for the borrower, a joint venture led by Onicx Group. Kenny Cutler and Jesse Wright of JLL represented the borrower in the loan transaction. Situated on a 10-acre site within Orlando’s Lake Nona submarket, Nova at East Park Village opened in August.  The property offers a mix of one-, two- and three-bedroom units, as well as a pool with cabanas and a 24-hour fitness center. Locally based ZRS Management operates the garden-style community.

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Morningstar-Storage
AcquisitionsArkansasFloridaGeorgiaIndustrialNorth CarolinaSelf-StorageSouth CarolinaSoutheastVirginia

Harrison Street, Morningstar Properties Acquire 21-Property Self-Storage Portfolio

by Abby Cox

CHICAGO AND MATTHEWS, N.C. — A joint venture between Chicago-based Harrison Street Asset Management and Matthews-based Morningstar Properties has acquired a portfolio of 21 self-storage properties totaling morning than 10,800 units. The properties are located in Texas, North Carolina, South Carolina, Florida, Georgia, Virginia and Arkansas, with 71 percent of the assets situated in top 30 U.S. metropolitan areas such as Houston, Austin, Charlotte and Atlanta. The portfolio was 90 percent leased at the time of sale and spans more than 1.3 million rentable square feet. Morningstar will continue operating and managing the portfolio. The seller was not disclosed. Harrison Street and Morningstar previously completed 41 self-storage investments across five Sun Belt states.

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Palmetto Industrial Park
FloridaIndustrialLoansSoutheast

JLL Secures $30M Refinancing for Palmetto Industrial Park in Miami

by Abby Cox

MIAMI — JLL Capital Markets has secured $30 million in refinancing for Palmetto Industrial Park, a six-building, shallow-bay portfolio located at 6801-7500 N.W. 77th Ave. in Miami. Melissa Rose, Jovi Rodriguez and Duncan Miller of JLL arranged the three-year, fixed-rate loan through an unnamed bank on behalf of the borrower, a joint venture between East Capital Partners and ABR. Constructed between 1981 and 1982, Palmetto Industrial Park totals 183,945 square feet and features 18-foot clear heights, 12 dock-high doors, 101 grade-level doors and 275 parking spaces. The facility, which was 94.9 percent leased at the time of loan closing, includes a mix of 143 tenants such as auto repair shops, custom carpentry operations, marble and stone services, logistics companies, medical centers, insurance agencies and specialized manufacturing facilities.

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Tamarac Town Square
FloridaLoansRetailSoutheast

JLL Arranges $57.5M Financing for Two Publix-Anchored Shopping Centers in South Florida

by Abby Cox

MIAMI GARDENS AND TAMARAC, FLA. — JLL Capital Markets has arranged a combined $57.5 million in financing for two Publix-anchored shopping centers in South Florida. Matt Casey, Paul Adams, Hunter Rich and Aaliyah St. Louis of JLL’s Debt Advisory team arranged the loans through Synovus Bank on behalf of the borrower, Atlanta-based Jamestown. The first property, Country Club Plaza in Miami Gardens, totals 100,893 square feet and is leased to tenants including CVS and Panera Bread. Cypress Commons in Tamarac — formerly known as Tamarac Town Square — is the second property, which totals 135,128 square feet and is leased to tenants including Humana and Retro Fitness. Jamestown’s current portfolio of grocery-anchored shopping centers includes eight properties across Georgia and Florida, totaling approximately 1.2 million square feet.

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Milam Dairy Commerce Center I & II
AcquisitionsFloridaIndustrialSoutheast

Keyes Co. Brokers $26.8M Sale of Industrial Complex in Miami

by Abby Cox

MIAMI — The Keyes Co. has brokered the $26.8 million sale of Milam Dairy Commerce Center I & II, a two-property industrial complex located in Miami. Milam Dairy Commerce Center I & II, which is situated at 6700 N.W. 72nd Ave. and 7205 N.W. 68th St., totals approximately 110,000 square feet across seven buildings. Tony Ulloa and Marcos Macias of Keyes Co. brokered the off-market transaction on behalf of the undisclosed buyer. The duo also represented the sellers, which were three separate family groups, according to Keyes Co.

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AcquisitionsFloridaLoansMultifamilySoutheastWalker & Dunlop

Walker & Dunlop Provides $47.8M Agency Loan for Mason Stuart Apartments in Southeast Florida

by John Nelson

STUART, FLA. — Walker & Dunlop has provided a $47.8 million Fannie Mae loan for the acquisition of Mason Stuart, a 270-unit apartment community located at 4585 S.E. Federal Highway in Stuart, a city in Southeast Florida’s Martin County. The borrower was Raia Capital Management. Craig West of Walker & Dunlop originated the fixed-rate, interest-only loan. Built in 2023, Mason Stuart features a mix of one-, two- and three-bedroom units, as well as a resort-style pool area, 24-hour fitness center with a yoga and spin room, an outdoor gathering pavilion, fenced dog park and multi-purpose walking trails.

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DevelopmentFloridaMultifamilySoutheast

Terra Completes 470-Unit Centro City Residences in Miami

by John Nelson

MIAMI — Terra has completed the first phase of Centro City Residences, the multifamily component of the 38-acre Centro City mixed-use development in Miami’s West Little Havana neighborhood. Phase I features 470 apartments spread across three eight-story multifamily buildings located at 3830 N.W. 11th St., as well as 350,000 square feet of retail space anchored by a 100,000-square-foot Target store. Other retail tenants include Ross Dress for Less, DD’s, Fresco Y Mas, Walgreens and Bank of America. Leasing and move-ins are underway at Centro City Residences, which features a mix of studio, one- and two-bedroom apartments. Floorplans measure approximately 500 to 1,250 square feet in size, with monthly rental rates starting at approximately $2,400, according to Terra. Amenities include multiple pools with cabanas, barbecue grill areas, a children’s playground, dog park, lounges and game rooms. Terra obtained a $291 million financing package for the project earlier this year.

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DevelopmentFloridaHealthcareSoutheast

UHealth Opens 363,000 SF Outpatient Medical Facility in North Miami, Florida

by John Nelson

NORTH MIAMI, FLA. — The University of Miami Health System (UHealth) has opened UHealth SoLe Mia, a 363,000-square-foot outpatient medical facility in North Miami. The seven-story property is the largest ambulatory center in UHealth’s network. The property features the Sylvester Comprehensive Cancer Center, Bascom Palmer Eye Institute, Desai Sethi Urology Institute and a collaboration with musculoskeletal care provider Hospital for Special Surgery. Other specialties offered include neurology, neurosurgery, cardiology, endocrinology, gastroenterology, dermatology, otolaryngology and gynecology.

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DevelopmentFloridaMixed-UseSoutheastTop Stories

Partnership Proposes $2B City Park at West Kendall Mixed-Use Development in Miami

by Kristin Harlow

MIAMI — A partnership between The Easton Group, Lennar and MPKA LLC has proposed City Park at West Kendall, a $2 billion, 990-acre master-planned community in Miami. The development team has filed its application with Miami-Dade County. Plans call for 7,800 new homes in a variety of price points, including townhomes, multifamily units, single-family homes and workforce housing, as well as 1.4 million square feet of retail space and 500,000 square feet of office space. At the heart of the proposed project is Village Core, a walkable town center with shops, restaurants, entertainment, plazas and a boardwalk. With the development application filed, the next step involves collaborating with local neighbors, government officials and community stakeholders to fine-tune the plan, according to Bill Albers, partner with MPKA, which is a consultant to the homebuilding industry. City Park is expected to generate $2.4 billion in annual economic output for the county. The project is also estimated to create more than 19,000 construction jobs during build-out followed by more than 13,000 permanent jobs. By reducing the need for daily commutes to job centers like downtown, Brickell, Doral and Coral Gables, City Park will also help reverse traffic patterns and ease congestion that has …

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Red Bird Center
AcquisitionsFloridaRetailSoutheast

JLL Arranges $62.1M Sale of Red Bird Shopping Center in Miami

by Abby Cox

MIAMI — JLL Capital Markets has arranged the $62.1 million sale of Red Bird Center, a 92,089-square-foot retail center located at the intersection of Bird and Red roads in Miami. Milam’s Markets, a regional grocer based in South Florida, anchors the property, which was fully occupied at the time of sale. Additional tenants at the center include Walgreens, Orion Fuels and Ace Hardware. Danny Finkle, Jorge Portela and Kim Flores of JLL’s Investment Sales and Advisory team represented the seller, Red Bird Associates, in the transaction. The buyer was Charlotte-based Asana Partners.

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