Miami

The Walker & Dunlop team has now closed three new South Florida apartment development transactions for HG Management, totaling nearly $350 million in sales volume.

The Florida Realtors trade group reports that sales of single-family homes in the first quarter fell slightly by 0.9% with a statewide total of 60,204 transactions. The median statewide single-family home price at the end of the first quarter was $248,000, up 9.7% from the first quarter of 2017.

Harbor Group International paid a total of $64 million for the 314-unit garden apartment property, according to Berkadia, which arranged the acquisition loan from a major insurance company for the buyer.

Vacancy rates in the South Florida retail market have stayed around 3%-4% consistently for the past three years, even with rental rates reaching historic highs.

FH Quantum, LLC acquired 3301 Quantum Blvd. in December 2017 from Aetna Life Insurance Co. and is now investing in capital improvements, including a new roof, new HVAC system and upgrades to site landscaping and the surface parking areas, according to C&W.

The largest transaction thus far for Fund II is a $40-million first priority mortgage for the redevelopment of the former Highland Park Mill, a 150,000-square-foot mixed-use property in Charlotte, NC.