Multifamily

TAMPA, FLA. — Sage Partners is developing Metro 510, a 120-unit workforce housing facility in downtown Tampa. The project will incorporate the re-use of St. Paul AME Church as the community's clubhouse and amenity building. The project will feature an outdoor spray ground, an indoor play court, a “tween” room, a fitness center, a business center and elevated exterior courtyards. Tampa-based Urban Studio Architects is providing architectural services for the project.

MARIETTA AND DEKALB COUNTY, GA. — Atlanta-based Cortland Partners has acquired two multifamily properties in the Atlanta metro area. In the first transaction, the company purchased Harbour Oaks Apartments, an 80-unit property located at 1565 Cider Road in Marietta, for $3.3 million. The acquisition price includes a planned renovation of the property. North Carolina-based Self-Help Venture Fund is financing the project using federal stimulus funds from the Neighborhood Stabilization Program. Cortland originally purchased the delinquent note for Harbour Oaks from JP Morgan/Chase in June. In the second transaction, Cortland acquired Woodhaven Apartments, a 276-unit apartment community located at 3800 Brockett Trail Road in DeKalb County, for an undisclosed price. Cortland plans to renovate the property, which offers a mix of one-, two- and three-bedroom units.

JACKSON, MISS. — Mississippi-based StateStreet Group has purchased the Pepper Mill Apartments, located at 5155 Keele St. in Jackson. Built in 1972, the 116-unit property offers a mix of one- and two-bedroom units with an average unit size of 1,046 square feet. Brad Barham of Marcus & Millichap represented the buyer. Terms of the transaction were not disclosed.