WAVELAND, MS – FOURMIDABLE, a diversified, national real estate management company, was designated as the new managing agent for three multi-family Section 8, tax credit, public housing and Rental Help Demonstration (RAD) communities consisting of 210 apartments in Mississippi.
According to FOURMIDABLE President, Michael Schocker, “The addition of the communities in Bay Waveland is a tremendous testament to our growing recognition in the various aspects of Affordable Housing. We are excited to continue their pattern of providing high quality and affordable housing to the residents they serve.”
Bay Waveland Housing Authority stated that they are very pleased to have FOURMIDABLE as the management agent at the following three communities:
Bay Pines, a 100-unit apartment community, consisting of one to four bedroom units located in Bay St. Louis. This layered community consists of 100% low income housing tax credit units with 34 project-based Section 8 units and 66 recently converted RAD units.
Camille Court, a 30-unit apartment community located in Waveland, consists of single family homes. Currently this community is public housing with 100% low income housing tax credits with plans to convert to RAD.
Oak Haven Senior Apartments is an 80-unit senior, 55 or older, community also located in Waveland. The property consists of one and two bedroom units with 39 project-based Section 8 units and 41 RAD units. The community has an additional low income housing tax credit component as well.
RAD (Rental Help Demonstration) programs seek to preserve public housing by providing Public Housing Authorities with access to more stable funding to make needed improvements.

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CHARLOTTE, NC – Akridge has partnered with KETTLER to buy a 2.5-acre parcel of land at the corner of Dunavant and Distribution in South End. The acquisition marks the first multifamily project in North Carolina for Akridge, who is also currently developing One Montford Park and recently opened an office in South End. Dunavant and Distribution also marks the expansion of KETTLER’s portfolio into Charlotte. Akridge and KETTLER are both keen to expand their presence in Charlotte’s burgeoning market.
“Akridge is proud to partner with KETTLER on this opportunity,” said Duncan Jones, Vice President, Acquisitions for Akridge. “Our leadership team has decades-long friendships with KETTLER’s and we respect their dedication to building productive and lasting relationships with their Residents. Our companies have fantastic natural synergy and our combined expertise will ensure the creation of an exceptional project.”
“In partnership with our friends at Akridge, KETTLER is committed to enhancing the South End submarket in Charlotte with the addition of this new multifamily development,” said Luke Davis, Executive Vice President, Investments for KETTLER. “Together, our teams are uniquely positioned with a depth of experience delivering thoughtful projects in an urban environment. We intend to design and deliver the project in a way that complements the already vibrant surrounding neighborhood and look forward to expanding our footprint within North Carolina in collaboration with Akridge.”
Dunavant and Distribution is located at 2306 Dunavant Street in Charlotte’s thriving South End. The 400-unit, 400,000-square-foot property aspires to redefine Charlotte’s luxury multifamily standard. It will offer Residents proximity to vibrant retail, restaurants, and grocery, with simple access to both the light rail and the Charlotte Rail Trail. Dunavant and Distribution will boast views of uptown and is within a small distance of multiple major employers. The property will feature a large central courtyard, well-appointed finishes, and a suite of luxury amenities. Akridge and KETTLER anticipate delivering the community in the summer of 2023.
Rob Cochran, Jared Londry, and Nolan Ashton of Cushman & Wakefield represented the seller.

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BETHESDA, MD – Walker & Dunlop, Inc. announced that its investment sales group, Walker & Dunlop Investment Sales, completed the sale of six multifamily communities in Denton, Texas. Located in a northern suburb of Dallas-Fort Worth, the portfolio comprises Locust 210 Lofts, Victoria Heights, Victoria Station, Victoria Village, The Adagio, and Locust Street Terrace Apartments.
Totaling 325 units and more than 18,000 square feet of commercial space, the portfolio represented an brilliant opportunity to invest in the high barrier-to-entry Denton submarket, which is experiencing significant in-migration. The well loved downtown city-center location positions each property to experience substantial organic rent growth through lease-over-lease gains.
The Walker & Dunlop Investment Sales team was led by Managing Director and middle-market expert, Kyle Palmer. Based in Atlanta, Georgia, the team effectively facilitated the transaction and served as advisor to both the sellers and buyer of the properties. All parties were local, private-equity investors. The acquisitions expand the buyer’s existing Texasportfolio, which includes Madison Park, Wyndham Pointe, and Oasis Springs.
Following the sale, Mr. Palmer partnered with Jeremy Nussbaum, a Senior Director in Walker & Dunlop’s Capital Markets group, to source a streamlined bridge financing solution for the buyer through a national debt fund. The loan terms included an attractive rate of 4.14 percent, interest-only for three years, and a loan to value of 80 percent.
Each of the Class A, mid-rise properties were built between 2009 and 2014 and were 94 percent leased at the time of sale. The classic unit interiors were highly accretive to the future yield profile, offering a double-digit Year-1 return. The buyer intends to invest $3.2 million toward interior renovations and exterior capital improvements to enhance the overall, live-work-play, experience for the tenants.

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