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The Village at Gainesville
AcquisitionsFloridaMultifamilySeniors HousingSoutheastTop Stories

SantaFe Healthcare Sells 100-Acre Senior Living Property in Gainesville, Florida

by Channing Hamilton

GAINESVILLE, FLA. — Continuum Advisors has arranged the sale of The Village at Gainesville, a 639-unit seniors housing community in Gainesville. SantaFe Healthcare Inc. sold the 100-acre asset to funds managed by Fortress Investment Group for an undisclosed price. The Village at Gainesville consists of nine residential buildings — six independent living, one assisted living and two memory care — and several community clubhouses with amenities. Eighty percent of the residences are dedicated to independent living. Continuum states that the property is considered one of the largest seniors housing rental communities in the United States. According to the property website, amenities include a fitness center with trainers, pool with a hot tub, tennis and pickleball courts, a reading room, hair salon, woodshop, housekeeping services and internet access.  The community also offers scheduled transportation throughout the grounds and off-campus. The property sits across from Santa Fe College, a two-year community college, and within five miles of the University of Florida. SantaFe Healthcare has owned and managed The Village at Gainesville for more than 30 years and has overseen three expansion projects at the community from 1986 through 2009. The locally based healthcare owner-operator injected capital expenditures of $3 million annually into the …

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Student Housing Portfolio
AcquisitionsFloridaIndianaNorth CarolinaStudent HousingTexasTop Stories

Newmark Brokers Sale of 3,693-Bed Student Housing Portfolio Across Four States

by Hayden Spiess

NEW YORK CITY — Newmark Group has brokered the sale of a student housing portfolio situated across four states. Located near major public universities in Florida, Texas, Indiana and North Carolina, the portfolio comprises five properties housing 3,693 beds across 1,248 units.  A joint venture between Nuveen and The Preiss Co. was the seller. The buyer and sales price were not disclosed, though Newmark states the transaction represents the largest U.S. student housing portfolio sale this year. The undisclosed communities serve students attending the University of Texas at Austin, North Carolina State University, Texas State University, the University of Florida and Indiana University. Each property is situated an average of roughly 0.9 miles within its respective campus.  Amenities at the communities include swimming pools, grilling stations, fitness centers, outdoor recreation areas and study rooms.  The Preiss Co. recently closed on the recapitalization of the portfolio, which Newmark also arranged. As part of the recapitalization, all five properties will undergo renovations to shared amenity spaces. Planned upgrades include the addition of modern furniture, updated finishes and state-of-the-art fitness equipment.  Several properties will also receive unit interior renovations including the addition of modern cabinetry, updated flooring, contemporary fixtures and hardware, new lighting …

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FloridaGeorgiaIndustrialLoansNorth CarolinaSoutheast

McCraney Property Obtains $55M Refinancing for Southeast Industrial Portfolio

by John Nelson

ORLANDO, FLA. — McCraney Property Co. has obtained three loans totaling $55 million for the refinancing of a Class A industrial portfolio in the Southeast. Melissa Rose, Michael DiCosimo and Nicole Barba of JLL arranged the three non-recourse loans on behalf of the Orlando-based industrial developer. The direct lenders were not disclosed. Built between 2023 and 2024, the portfolio includes 41 Logistics in Adairsville, Ga. (390,498 square feet); Royal Palm Logistics in Royal Palm Beach, Fla. (128,684 square feet); and Davidson 85 in Concord, N.C. (146,628 square feet). The portfolio was 94.7 percent leased at the time of financing to a diverse tenant roster. The refinancing comprised a $25.8 million loan for 41 Logistics, a $16 million loan for Royal Palm Logistics and a $13.2 million loan for Davidson 85.

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AcquisitionsFloridaIndustrialLoansSoutheast

DRA Advisors Provides $107.5M for Florida Industrial Portfolio Recapitalization With Redfearn Capital

by John Nelson

DELRAY BEACH, FLA. — DRA Advisors has provided $107.5 million for the recapitalization of an industrial portfolio in Florida owned by Redfearn Capital, a private equity firm based in Delray Beach. The portfolio includes 10 properties totaling more than 900,000 square feet in Jacksonville, South Florida, Clearwater and Orlando. Redfearn Capital originally established the portfolio in 2020 with investment partner TPG Angelo Gordon. Redfearn Capital and TPG Angelo Gordon will remain partners in two other joint venture funds. Mike Davis and Dominic Montazemi of Cushman & Wakefield represented Redfearn Capital in the transaction.

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DevelopmentFloridaMultifamilySoutheast

Thompson Thrift Nears Completion of 324-Unit Apartment Community in Pensacola, Florida

by John Nelson

PENSACOLA, FLA. — Thompson Thrift is nearing completion of The Quinn, a 324-unit apartment community located at 5800 W. Nine Mile Road in Pensacola, a city in Florida’s Panhandle near the Alabama border. Residents began moving in last fall, and the Indianapolis-based developer expects to complete construction by the end of the summer. Situated on 18 acres within a mile of a Publix grocery store, The Quinn features a mix of one-, two- and three-bedroom apartments averaging 1,000 square feet in size. Monthly rental rates range from $1,459 to $2,474, according to Apartments.com. Amenities include a clubhouse, 24-hour fitness center, a resort-style pool, community grilling areas, fire pits, cabanas, turf area for outdoor exercise or yard games, pickleball courts and a dog park with a pet spa.

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AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Brokers $5.7M Sale of Retail Property in Miami

by John Nelson

MIAMI — Marcus & Millichap has brokered the $5.7 million sale of Plaza 77 Shops, a 9,590-square foot retail strip center in Miami’s Dadeland neighborhood. Situated less than one mile from Dadeland Mall, the property is anchored by Trulieve and Domino’s Pizza, which both operate on corporate-guaranteed leases. Additional tenants at the center include Chase Bank, Outback Steakhouse, Anthony’s Coal Fired Pizza, Cancun Grill and Massage Envy, according to LoopNet. Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office represented the seller, an entity doing business as Plaza 77 Shops LLC, and procured the buyer, a local private investor, in the transaction.

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FloridaLoansMultifamilySoutheast

Berkadia Provides $23.2M Loan to Refinance Multifamily Community in Metro Orlando

by John Nelson

FERN PARK, FLA. — Berkadia has provided a $23.2 million Freddie Mac loan to refinance Advenir at Magnolia, a 272-unit multifamily community located in the Fern Park suburb of Orlando. Charles Foschini, Christopher Apone, Lourdes Carranza-Alvarez and Shannon Wilson of Berkadia’s Miami office originated the financing on behalf of the borrower, an entity doing business as Advenir@Magnolia LLC. The five-year, fixed-rate agency loan includes an extended interest-only period and a 60 percent loan-to-value ratio. Situated on 13 acres, Advenir at Magnolia is a two-story, garden-style property that comprises a mix of studio, one- and two-bedroom apartments averaging approximately 800 square feet in size. Amenities at the property include two resort-style pools, two basketball courts, three racquetball courts, a lighted tennis court, grilling stations, a 24/7 fitness center, business center and laundry facilities.

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AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Brokers Sale of 81,082 SF Shopping Center in Tallahassee

by John Nelson

TALLAHASSEE, FLA. — Marcus & Millichap has brokered the sale of Market Square, an 81,082-square-foot shopping center located in Tallahassee’s Market District, roughly four miles from Florida State University. The asset traded for more than $330 per square foot. The property — which was originally built in 1977 and renovated in 2021 — is anchored by a 22,000-square-foot REI. Additional tenants at the property include Sanitas Medical Center, Connors Steak & Seafood, a medical spa and Southern Seafood Market. Alvin Mansour and Jon Talia of The Mansour Group of Marcus & Millichap represented the private seller and procured the Florida-based buyer in the transaction. Ryan Nee is Marcus & Millichap’s broker of record in Florida.

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DevelopmentFloridaMultifamilySoutheast

Thompson Thrift Opens 300-Unit Multifamily Community Near Orlando

by John Nelson

LADY LAKE, FLORIDA — Thompson Thrift has recently hosted a ribbon cutting ceremony for Standard441, a new 300-unit multifamily community in the Orlando suburb of Lady Lake. Standard441 is located off Highway 441 on the northeast side of the larger The Villages master-planned community, across the street from the UF Health Spanish Plaines Hospital. The three-story complex offers one-, two- and three-bedroom floorplans ranging in size from 689 square feet to 1,369 square feet, according to Apartments.com. Private yards, upgraded unit options, detached garages and Alexa-compatible smart home packages are also available to residents. Amenities at the property include a fully equipped, 24-hour fitness center, resort-style heated swimming pool, outdoor spa, outdoor swimming pool pavilion with a fireplace and grills, pickleball court, putting green and cornhole area, dog park and a pet spa. The complex also offers a 24-hour social hub, work-from-home focus suites and electric vehicle charging stations. Rental rates for the property start at $1,360. Thompson Thrift began welcoming residents at Standard441 during winter 2024, with completion slated for the end of the summer.

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DevelopmentFloridaIndustrialLoansSoutheast

JLL Arranges $25.8M Construction Financing for Speculative Industrial Project in Metro Tampa

by John Nelson

SAN ANTONIO, FLA. — JLL Capital Markets has arranged $25.8 million in construction financing for Phase I of Park 52 Logistics North, a 299,030-square-foot speculative industrial project in the metro Tampa . Melissa Rose, Michael DiCosimo, Justin Ratcliffe and Nicole Barba of JLL arranged the three-year, floating-rate construction loan on behalf of the borrower, McCraney Property Co. Scheduled for completion in November, the 78-acre project will comprise three rear-load buildings ranging from 80,745 square feet to 130,865 square feet. Additionally, each building will feature four drive-in doors and car parking spaces and 24- to 30-foot clear heights, as well as suite sizes that can accommodate up to 46,000 square feet. Located with direct frontage along State Road 52 in San Antonio, Park 52 Logistics North is adjacent to the 965-acre Double Branch master-planned mixed-use community, which is expected to generate $600 million in economic impact, according to JLL.

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