Miami

The 396-unit garden apartment community on Townsend Boulevard includes 13 buildings on both sides of Townsend Boulevard.

SunTrust originated a $48.49-million 10-year term loan with nine-years interest only followed by a 30-year amortization schedule for The Preserve at Henderson Beach, a 340-unit multifamily property located at 4131 Commons Drive West in Destin, FL.

Deliveries are expected to more than double from last year in Miami, the only South Florida city seeing an increase as developers elsewhere tap the brakes on multifamily projects.

A report released by commercial brokerage CBRE predicts a strong restaurant sector with spending increasing above non-food retail industries. The analysis also indicates that South Florida will remain a prime market for international restaurant expansions into the US.

At least four apartment towers are on tap in addition to the newly finished Wynwood 25 and The Bradley, which is under construction.

Freehold will lease the properties to Curaleaf pursuant to a long-term, triple-net lease. The company also has the right of first offer to purchase additional properties from Curaleaf as its preferred real estate partner.