CHARLOTTE, NC – Broadshore Capital Partners announced that it has closed a $44.5 million senior construction loan to Panorama Holdings for the construction of the 314-unit Lumeo apartment community in Charlotte, North Carolina. Lumeo, at 7100 MacFarlane Blvd, is located adjacent to the University City Light Rail stop offering convenient access to nearby shops, dining and entertainment, as well as a small ride to both UNC Charlotte and Uptown Charlotte.
Broadshore s debt program seeks to make stretch senior construction loans on multifamily projects in communities with multiple economic drivers that are being undertaken by experienced developers such as at Lumeo, said Bleecker Seaman, co-CEO, Broadshore. This loan expands our long-standing debt program to include multifamily construction lending. Changing market conditions coupled with our company s expertise in multifamily investing allows us to seamlessly adapt our debt program to multifamily lending where we see the opportunity to provide capital where other lenders have pulled back.
Lumeo is an urban-style community with residential buildings, club house and outdoor recreation and gathering spaces spread across its approximately 10.1-acre site. The apartments are designed with modern fixtures and finishes. It offers an array of services, including a full-service pet spa, business center, club house and fitness center with yoga studio; and outdoor areas such as a large saltwater pool and sun deck, courtyards with gas grills and fire pit, and community-wide walking trails.
Broadshore has extensive experience in multifamily investment and management built over more than 30 years of investing in markets across the United States. Broadshore s team draws on this expertise for its debt program which allows the company to quickly evaluate and make loan determinations. Broadshore s niche is as a non-recourse lender for construction and transitional assets. Broadshore can provide stretch senior and mezzanine financing targeting loans sized in the $10-75 million range for projects throughout the U.S.
We believe one of the strengths of Broadshore s lending program is our ability to view the project from the borrower s perspective, added Senior Vice President, Chris Miller who led the loan origination.
With multiple multifamily communities and mixed-use projects in Charlotte, Panorama Holdings is a real estate development company aiming to make high-quality and differentiated communities in the most quick-growing markets in the United States. The Lumeo community benefits from its location near the mix of professional businesses, dining and entertainment that comprises Uptown Charlotte as well as being a small distance from UNC Charlotte and the University City sub-market. It also is a transit-oriented community steps away from the University City Boulevard station on the LYNX Blue Line light rail extension. Panorama is currently under construction on Lumeo with occupancy of the first units anticipated to be available in the first quarter 2021 and final completion by the end of 2021.

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SCOTTSDALE, AZ – Wood Partners, a national leader in multi-family real estate development, announced the groundbreaking of its newest luxury residential community – Alta Raintree – in Scottsdale, Arizona. Construction is underway and the community is scheduled to open in the fall of 2021.
Located 10 minutes from Scottsdale Airpark in the coveted City of Scottsdale, this new community will offer residents simple access to North Scottsdale’s large employment base that is home to more than 86,000 jobs. Notable employers in the nearby area include Nationwide, GoDaddy, Vanguard, JDA Software, Mayo Clinic, HonorHealth, Prudential, American Express and CVS Health.
For those who delight in the outdoors, the community’s location is in close proximity to a number of outdoor attractions such as Camelback Mountain, McDowell Mountain Regional Park, and a number of well loved, local golf courses. The Waste Management Open, the highest attended golf tournament in the world, is played annually at TPC of Scottsdale, only two miles away.
“Alta Raintree’s prime North Scottsdale location is what will appeal to the residents the most,” said Kevin Curley, Development Associate for Wood Partners. “Being close to jobs, shopping and abundant nightlife offers unbeatable convenience. Add in being surrounded by the desert mountains and outdoor activities, Alta Raintree will make for an unparalleled living experience.”
Scottsdale is home to the Phoenix-metro area’s favorite shopping destinations, including Kierland Commons, the Scottsdale Quarter and Scottsdale Fashion Square mall, which houses the valley’s finest collection of high-end retailers. The community offers walkable access to nearby restaurants and retail as well. Finally, the location also provides quick access to the Highway 101, easily connecting Alta Raintree to the Phoenix megaregion.
Once complete, Alta Raintree will include 330 units comprised of one-, two- and three-bedroom floor plans. The community will feature state-of-the-art amenities including an over-sized fitness center with yoga space and a resort-like pool area accompanied by a sunken seating area that will surround a steel ‘Art Tree’. A game room, speakeasy, rooftop deck and stunning clubhouse will give residents access to luxurious living steps from their door.
All apartment homes will feature stainless-steel appliances with french-door refrigerators and double ovens in select units, quartz countertops, modern, self-close cabinetry, backlit mirrors in the bathrooms, keyless entry for maximum convenience and in-unit front load washer and dryers.

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PALM BAY, FL – American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, has bought The Vinings at Palm Bay, a 320-unit apartment community located in Palm Bay, Florida. The community has been renamed The Braxton and will undergo a $3 million capital improvements and rebranding program.
With this acquisition, American Landmark now owns and operates 22 multifamily communities in Florida and has a national portfolio in excess of 33,000 units.
The Braxton is conveniently located in the booming Space Coast region of Florida, home to thousands of a high-tech aviation and manufacturing jobs and employers such as Harris Corporation, Northrop Grumman, SpaceX, and Space Coast Credit Union. It is 10 minutes from many Atlantic Ocean beaches and Eastern Florida State College – Palm Beach Campus; 30 minutes from Patrick Air Force Base, and under 45 minutes from Titusville and Cape Canaveral.
Earlier this year, the Milken Institute, a nonpartisan economic reckon tank, named the Space Coast region as one of the top 10 best-performing cities in the U.S., alongside major metros like San Francisco, Seattle and Austin, Texas.
Palm Bay and the surrounding cities of Melbourne, Titusville and Cape Canaveral are enjoying significant job and population growth due to the area s strong high-tech, defense and aerospace sectors, so now is an brilliant time to be investing in quality rental housing in this region which will remain an vital contributor to the U.S. economy for years to come, said Christine DeFilippis, chief investment officer at American Landmark.
American Landmark plans to upgrade a variety of features throughout the property in a comprehensive value-add program. Unit upgrades include granite countertops, new cabinets, backsplash, stainless steel appliances, nickel-brushed plumbing fixtures, luxury lighting fixtures, USB outlets and electronic locks. For the site, improvements include a grilling table, dog park and renovated fitness center/clubhouse, swimming pool and landscaping.
Built in 1987, The Braxton is located 1000 Palm Place Drive Northeast and consists of one-, two- and three-bedroom apartments ranging in size from 595 square feet to 1,356 square feet. Apartments include open floor plans, fully-equipped kitchens, a private patio or balcony, in-unit washer/dryer and elegant fixtures. Community amenities include two swimming pools, fitness center, tennis court and more.

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