Madison Capital Helming $60M St. Johns County Rental Project
St. Johns County issued permits totaling more than $26.5 million to Benco Construction, the builder for Madison Capital Group’s latest apartment venture. The Jacksonville Business Journal reports construction at the site on 875 State Road 16 is expected to take between 20 to 24 months for the $60 million project.
Named Madison Seagrass, the 234-unit multifamily community will include one-, two- and three-bedroom floor plans. 40% of its units will be designated as attainable housing for households earning between 80% and 120% of the Area Median Income.
The permits issued this week outline six multifamily buildings in the development, a clubhouse plus three garages.
The other Madison Communities development in the area is Madison Fountains, a 276-unit apartment community at 75 Teigan Trail near County Road 210. It opened last year.
Other News
JLL Arranges Financing for Lightstone Acquisition on Upper West Side
JLL Capital Markets arranged acquisition financing for Lightstone’s purchase of 323 W. 96th St., a 174-unit multifamily property on Manhattan’s Upper West Side. Senior managing director Peter Rotchford and managing director Michael Shmuely worked on behalf of Lightstone to secure the financing from MF1, a wholly owned subsidiary of Berkshire Residential Investments. Lightstone is acquiring...
Learn more
National City Investment Group Commences Workforce Housing Build
The National City Investment Group, a locally owned, privately held real estate investment company, recently broke ground on Market View, a 120-unit multifamily residential community located at 303 Highland Ave. in National City. The development will transform an underutilized parking lot adjacent to Manolo Farmers Market, which has served National City for more than 33...
Learn more
Levin Johnston Closes Apartment Sale in One of San Jose’s Strongest Submarkets
Levin Johnston of Marcus & Millichap recently completed the sale of First Street Manor, a 39-unit apartment community in San Jose. Executive managing directors Adam Levin and Robert Johnston, along with senior director, investments Cole Simpson, represented the seller and procured the buyer in the $9.112-million transaction. The Levin Johnston team demonstrated the asset’s upside...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout