RECENT HEADLINES

“PROJECT UPDATE: Concrete pours are underway at Lyria in Pensacola, FL,” LinkedIn; Summit Contracting Group, February 12, 2024

Lyria is a 3-story garden style multifamily project under construction. Residents at this market rate community will live just north of the Pensacola International Airport and a few minutes away from the University of West Florida.

“Catalyst Development Partners closes on 12.85 acre parcel in Ocala, FL with plans to develop 228 Multi-family units,” LinkedIn, November 29, 2023

“Catalyst Announces Opening of Volta Apartments,” eTownJax.com, July 7, 2023

“New SmartHome apartment community opens at eTown in Jacksonville,” Florida Times-Union/Jacksonville.com, June 22, 2023

“Volta SmartHome Apartments opens in eTown,” Jacksonville Business Journal, June 21, 2023

“The Rise of Digital Marketing Strategies for Luxury Apartment Communities,” Grey Street Studios - Architectural Photography, June 08, 2023

PROJECT UPDATE: “Have you seen the clubhouse at PRADO in Davenport, FL? Construction on the clubhouse is complete, and it's been delivered to the owner!,” LinkedInPost, Summit Contracting Group, June 7, 2023

PROJECT UPDATE: Concrete pours are underway at Perla in Panama City Beach, FL., LinkedInPost, Summit Contracting Group, June 5, 2023

NEW PROJECT: Summit is breaking ground on Perla, a 336-unit multifamily development in Panama City, FL., LinkedInPost, Summit Contracting Group, February, 20, 2023

Perla is a market-rate community that will have (8) 3-story garden-style buildings in the Florida Panhandle. Learn more about this multifamily project

PROJECT UPDATE: Reunion Phase ll is topped out, and drywall is in progress in the clubhouse. This market-rate project is next to Lirio at Rafina in Davenport, FL., LinkedIn Post, Summit Contracting Group, January 23, 2023

“Newly Formed Joint Venture Acquires Orlando Multifamily for $87M,” Connect CRE, September 26, 2022

Vienna, VA-based Middleburg Communities and London-based SFO Capital Partners have jointly acquired The Baldwin, a newly built, 270-unit Class A multifamily community in Orlando, FL.

According to sources familiar with the transaction, the purchase price was $87.3 million and Berkadia represented the seller, Catalyst Development Partners/The Carlyle Groups.

“Middleburg, SFO Capital Acquire Orlando Asset,” Multi-Housing News, September 23, 2022

Middleburg Communities, in a joint venture with SFO Capital Partners, has acquired The Baldwin, a 270-unit Class A community located in Orlando, Fla. According to Yardi Matrix, the buyers picked up the asset for $87.3 million, from Catalyst Development Partners.

“Altman Companies closes on land for second class A apartment community at Vineland Pointe," Growthspotter, September 22, 2022 [See PDF]

The transaction joins other multifamily property deals that occurred in the Orlando market over the past week. The highest-priced deal involved The Baldwin, a newly-built 270-unit luxury apartment community on East Colonial Drive that sold for $87.25 million — or $323,148 per unit.

Virginia-based Middleburg Communities and SFO Capital Partners, a London-based global real estate investor and investment manager, acquired the asset from the apartment community’s developer, Atlanta-based Catalyst Development Partners. Managing Director Brett Moss, Associate Director Tyler Swidler, Senior Managing Director Matt Mitchell, and Senior Financial Analyst Bennett Hopkins of Berkadia arranged the sale of behalf of the seller.

“Berkadia arranges sale of new Class AA garden-style apartment community in Orlando," YieldPro, September 22, 2022

Berkadia announces it has arranged the sale of The Baldwin, a brand new, 270-unit Class AA garden-style apartment community in Orlando, Florida. Managing Director Brett Moss, Associate Director Tyler Swidler, Senior Managing Director Matt Mitchell, and Senior Financial Analyst Bennett Hopkins of Berkadia’s Orlando and Tampa offices arranged the sale of behalf of the seller, Catalyst Development Partners. Middleburg Communities, a fully integrated multifamily development, investment, construction, and management company operating in the southeastern and mid-Atlantic United States, acquired the property.

“Walmart-anchored center in New Smyrna Beach to add apartments,” Orlando Business Journal, September 14, 2022

Apartments soon may rise where a big box retail store once was planned next to an existing Walmart in New Smyrna Beach. On Aug. 23, the New Smyrna Beach City Commission approved a request to allow for the development of 279 apartments. The property in question is 15.5 acres directly east of the Walmart Supercenter at 3155 State Road 44, in the Shoppes at Coronado development adjacent Interstate 95.

“Wood Partners plans to bring its 10th Alta-branded apartment to Orlando,” Growthspotter, May 2, 2022

The Hanging Moss property in Orlando sits two miles to the northeast of Winter Park’s Lake Baldwin Park where another Atlanta-based developer, Catalyst Development Partners, recently completed construction of a 270-unit apartment community. [See PDF]

“Berkadia Arranges Sale of New 280-Unit Lirio at Rafina Luxury Lakefront Apartment Community in Orlando Submarket of Davenport," MultifamilyBiz.com, April 7, 2022

“Polk apartment sale smashes record at more than $300K per door,” Tampa Bay Business Journal, March 24, 2022

"Berkadia Arranges Sale of New Class AA luxury Lakefront Apartment Community in Orlando," Yield Pro, March 16, 2022

Berkadia announces it has arranged the sale of Lirio at Rafina, a brand-new, 280-unit, Class AA luxury garden apartment community in Orlando, Fla. Managing Directors Brett Moss and Matt Wilcox, Associate Director Tyler Swidler and Senior Managing Director Cole Whitaker of Berkadia Orlando marketed the property on behalf of Catalyst Development Partners and Six Pines Realty. Preferred Apartment Communities acquired the property.

“SW Ocala: Major apartment complex near Saddlewood Elementary? Neighbors worry about traffic.,” Ocala StarBanner, February 23, 2022 [Download PDF]

“Preferred Apartment Communities, Inc. Announces Real Estate Loan Investment in Jacksonville, Florida Multifamily Development,” Yahoo! Finance, October 18, 2021

Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the "Company") today announced that on October 14, 2021 it closed on a real estate loan investment of up to approximately $16.6 million in connection with Catalyst Development Partners’ plans to develop Menlo II, a 337-unit, mid-rise, surface parked, Class A multifamily community located in Jacksonville, Florida. Delivery of first units is expected in Spring 2023. The real estate loan investment has an outside maturity date in April 2027, co-terminus with the construction loan.

View full release here: https://www.businesswire.com/news/home/20211018005986/en/

“Luxury multifamily investment sales in Orange and Osceola counties top $295M,” Growthspotter, September 7, 2021

The second-highest price paid for a multifamily property during the month of August was the $71 million sale of the EOS Apartments near the University of Central Florida,” Records show Carter Multifamily paid about $240,000 per apartment for the 296-unit community at 12221 E. Colonial Drive. The seller, New Jersey-based Raia Properties Corporation, paid $52 million for the EOS Apartments in 2016. The midrise complex was built in 2015 by Catalyst Development Partners. It sits on 12.75 acres just northwest of the Colonial Drive and S.R. 408 interchange. Humphreys & Partners designed the complex, which is built around four distinct courtyards featuring a resort-style pool, hammock haven, grilling station and zen garden.