TAMPA, FL – Middleburg Communities announced it closed on two land parcels totaling 49 acres adjacent to Friendly Way located off of FL-54 in Wesley Chapel, Florida, a submarket of Tampa. Leveraging its in-house construction capabilities, Middleburg plans to develop two residential communities: Mosby Avalon Park, a 338-unit traditional apartment community, and Hamlet Avalon Park, a build-to-rent community with 260 single-family homes, duplexes and townhomes. Construction will commence immediately on the Mosby component while Hamlet Avalon Park is plotted as a future phase.
“These projects in Wesley Chapel represent our largest development investment to date and our fifth acquisition in Florida during the past year. We re grateful for our investment partners and Synovus Bank for having confidence in our ability to do. Our development and construction teams are keen to get started in earnest and we look forward to our grand opening next year.
The convenient location of the community, approximately 30 minutes from downtown Tampa, offers exceptional access to job centers and regional demand drivers. Mosby and Hamlet Avalon Park are part of the Avalon Park Wesley Chapel master-plotted community, which is situated on over 1,600-acres and is entitled for 4,800 residences units and 500,000 SF of retail and commercial space, much of which has already been delivered or is currently under construction.
Mosby Avalon Park will feature one, two and three-bedroom units in four-tale elevator-served buildings with quartz countertops, stainless steel appliances, and luxury vinyl plank flooring. Amenities include a resort-style pool, fitness center, dog park, and pet spa.
Hamlet Avalon Park will offer one, two, and three-bedroom floorplans with a mix of cottages, duplexes, and townhomes, each with private entries, patios, and yard space and attached garages in select units. Interiors will feature quartz countertops, stainless steel appliances, and luxury vinyl plank flooring and the community will include numerous neighborhood parks and green space, a resort-style pool, fitness center, dog park, and pet spa.
Mosby Avalon Park and Hamlet Avalon Park are Middleburg s first entrance into the Tampa Metropolitan Statistical Area (MSA), one of the fastest growing markets in the country. Middleburg s growing Florida portfolio includes three assets in Orlando – Mosby Citrus Ridge, a 300-unit Class A multifamily community currently under construction, Indigo Champions Ridge, a 300-unit Class A multifamily community currently in lease-up, and The Baldwin, a 270-unit Class A multifamily community – and one asset in Yulee, Hamlet Wildlight, a 250-unit Class A built-for-rent community currently under construction.

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RALEIGH, NC – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced the acquisition of Ashford Townes, a 74-unit newly constructed build-for-rent townhome community in the affluent Raleigh suburb of Fuquay-Varina, North Carolina. The community was bought on behalf of CS1031 Ashford Townes BFR Housing, DST.
Capital Square formed the Private Equity Group managed by experienced real estate executives, Dave Platter and Jon Trott, as managing directors and co-heads, to profit from opportunities in the housing market, including a dedicated build-for-rent (“BFR”) strategy in high growth sunbelt markets. This represents Capital Square’s third BFR offering on platform to date.
“With a housing shortage of over four million units, Capital Square believes build-for-rent (BFR) housing solutions provide the U.S. with a vital supply of new housing stock,” said Louis Rogers, founder and chief executive officer. “These professionally managed and highly amenitized communities are desirable for providing the benefits of single-family living without the associated costs of ownership. Our BFR strategy is complementary with the existing multifamily business — Capital Square will continue to thoughtfully buy and develop multifamily communities throughout the Southeast and Texas in the years to come.”
Located at 604 Oakbrook Pass Way, construction of Ashford Townes was completed in February 2022. Developed by D.R. Horton, the nation’s largest homebuilder by volume, the modern units boast three-bedroom, open floorplans averaging 1,693 square feet with integrated smart-home technology, stainless steel appliances, quartz countertops, high vaulted ceilings, built-in window blinds, spacious walk-in closets, full size washer-dryers, attached one-car garages, private patios and outdoor storage. A community dog park is additionally contemplated for development.
Ashford Townes is one of just five single-family or townhome purpose-built rental communities of institutional quality currently available within the Greater Raleigh area. The property is approximately 30 minutes south of Research Triangle Park, the largest research park in the U.S. and a premier global innovation center. Its 7,000 acres encompass the Raleigh-Durham-Cary combined statistical area and boasts a diverse, innovation-based economy anchored by world-class universities and hundreds of companies, including science and technology firms, government agencies, academic institutions, startups and nonprofits.
The property offers residents efficient commutes to over 130,000 jobs and a five-minute drive to local retailers, restaurants, breweries, fitness centers and top performing schools. Resident area household incomes average $106,500, with leading employers including the University of North Carolina at Chapel Hill, Novartis, IQVIA, JLL and Duke Energy. The Fuquay-Varina submarket experienced approximately 13% rent growth in 2022 while the Raleigh-Durham area experienced rent growth of approximately 15%. Rents are forecasted to grow an average of 3.5% each year for the next five years in the Fuquay-Varina submarket and 3.75% in Raleigh-Durham.
“The Research Triangle region welcomed more than 900,000 new residents between 2000 and 2017, and a declining inventory of high-quality land sites, competition from multifamily developers and supply chain disruptions have resulted in limited deliveries of rental communities to the region,” said Whitson Huffman, co-chief executive officer. “Ashford Townes offers a convenient, reliable and spacious housing option amidst the least affordable single-family for-sale market that the Raleigh area has experienced in decades.”

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INDIAN LAND, SC – Canyon Partners Real Estate announced that it has provided a $14.8 million preferred equity investment in a joint venture with The Widewaters Group for the development of Parkstone at Indian Land, a Class-A, 266-unit, garden style residential community in Indian Land, S.C. Widewaters will lead development of the community, which is expected to start occupying units in late 2023, with completion in mid-2024.
The investment marks the second joint venture between Canyon and Widewaters, and Canyon’s third investment in the greater Charlotte area in the last five months. Huntington National Bank provided the senior construction loan.
Indian Land, South Carolina is a rapidly growing suburb of the Charlotte MSA, located 15 miles south of Charlotte’s central business district and five miles south of the Ballantyne submarket on the border of North Carolina. Indian Land, the northernmost community in Lancaster County, has benefitted from the growth of the greater Charlotte region. As Charlotte’s growth trajectory has expanded to the south, Lancaster County has experienced outsized population growth of 31% from 2010 to 2021. Indian Land also benefits from proximity to three major suburban employment nodes, including Indian Land, which is home to Red Ventures headquarters, Ballantyne, and Fort Mill.
“As Charlotte continues its rapid growth trajectory, we anticipate continued strong demand for multifamily housing in the city’s suburbs, including Indian Land,” said Brian Long, Director of Development at The Widewaters Group. “Parkstone will provide well-located housing for residents seeking convenient access to nearby jobs, entertainment and retail options. We look forward to partnering with Canyon once again for this project.”
Interior units at Parkstone will feature modern finishes and appliances, full size washer/dryers and balconies. The community will include an extensive amenity package, such as a dog park, pet spa, car wash, scenic pond area, 24/7 mailroom with package delivery lockers, 24/7 fitness center and resort style pool.

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