Market Report

o    NORTHEAST FLORIDA

LandSouth starts work on $49 million apartments in Boynton Beach

LandSouth Construction of Jacksonville Beach has begun building 500 Ocean, a $49 million mixed-use apartment community in Boynton Beach, the Jacksonville Business Journal reports

 New York buyers snap up another multifamily property

Another New York real estate firm has picked up a Jacksonville apartment complex, Mission Springs — a 444-apartment community in Ortega. Read more.

  

o    CENTRAL FLORIDA

WeldenField and SPM Team Up With Tavistock to Develop New Luxury Apartment Community

Weldenfield Development and SPM, LLC announce the groundbreaking of Landon House, a collection of 280 luxury, urban-style apartments located in the heart of Lake Nona Town Center and the bustling Lake Nona Medical City in Orlando, FL. Read more.

 

o    BAY AREA

Developer: Tampa Tribune site will be mid-rise rental apartments

A mid-rise residential project planned for the Tampa Tribune's riverfront headquarters will be rental apartments and not condos, its developer says, and likely will eliminate the paper's printing plant operations on the site, the Tampa Bay Times reports. Read more.

Apartment complex in Tampa's Westchase area sells for $64.5 million

Lexington Park at Westchase, a 400-unit apartment complex in Tampa, has been sold for $64.5 million to Pollack Shores Real Estate Group of Atlanta. Read more.

Hernando panel recommends approval of apartments along Anderson Snow Road

Representing applicant Mohamed Shahout, Richard Claybrooke told members of the Hernando County Planning and Zoning Commission on Monday that Hernando is among the least affordable rental markets in the country, so new apartment options are needed. Read more.

481-unit downtown St. Petersburg apartment complex on the market

Urban Style Flats, a former public housing project turned hip apartments, is up for sale as demand soars for rentals near downtown St. Petersburg. Read more.

 

o    SOUTHWEST FLORIDA

Preferred Apartment Communities Announces Acquisition of 308-Unit Multifamily Community

Preferred Apartment Communities announced the acquisition of a newly constructed 308-unit Class A multifamily community in Naples, Florida. Read more.

 

o    SOUTHEAST FLORIDA

ZOM Breaks Ground on Iconic 50-Story Luxury Highrise Apartment Community in Miami, Florida

ZOM, a leading luxury multifamily real estate developer, and its joint venture partner, an affiliate of AIG Global Real Estate, the real estate arm of insurer AIG, started construction on SOLITAIR, a 438-unit, 50-story luxury highrise in the heart of the flourishing Brickell neighborhood, a block between Brickell City Centre and Mary Brickell Village at 86 SW 8th Street. Read more.

TGM Associates Sells 311-Unit Multifamily Community in Jupiter, Florida to Northland Investment

TGM Associates announced the sale of TGM Floresta to Newton, MA based Northland Investment Corporation. The broker on the transaction was JBM Institutional Multifamily Advisors, Jamie May, Chairman and CEO. Read more.