Newmark Multifamily Capital Markets Executive Managing Director Scott Ramey, Director Brad Downing, Vice Chairman Patrick Dufour, Associate Paul Grant, and Senior Managing Director Ryan Moody represented the seller in the transaction.
Cushman & Wakefield’s Glen Jaffee represented the seller and procured the buyer for the off-market transaction.
Situated within an opportunity zone, the project will be built in two phases, the first phase of which will include 300 multifamily units and more than 15,000 square feet of street-level retail space.
Chip Wooten and Jeff Gray of CBRE represented the sellers, Jim Heistand of Parkway Properties and Mark Walsh and Brett Bossung of Silverpeak, in the transaction.
In alignment with Avanath’s mission to acquire, own, renovate, and operate affordable and value-oriented communities, 131 of 266 units are designated affordable, with the property’s rent restrictions continuing until 2050.
It will be the first residential phase of a larger 200-acre mixed-use development.
Darron Kattan, Zachary Ames, Avery Jordan, Mark Savarese, Cary Brown and Cameron Wolfe of Franklin Street represented both the buyer, Topaz Capital Group, LLC, and the seller, Wells Boys & Girls Management.
Ken Delvillar led the JLL team that represented the seller, ApexOne Investment Partners, in the transaction. Melissa Marcolini Quinn and Lee Weaver led the JLL Capital Markets team arranging debt and equity financing totaling $65 million for the buyer.
A Kissimmee condo-hotel received $54 million loan and a Winter Garden multifamily development secured $55 million in financing.
Scott Ramey, Brad Downing and Paul Grant of Newmark represented the Boca Raton, Fla.-based seller in the transaction.
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