DAVENPORT, FL – Sovereign Properties and Invest Capital Group have announced the grand opening of Atlantica at Town Center, the first phase of its two-phased development. They are hosting a ribbon cutting event on September 28th at the property to celebrate the completion of its first phase.
Atlantica at Town Center is located at 1121 Loblolly Lane, Davenport, FL. The 360-unit Class A apartment community offers one-, two- and three-bedroom units ranging from 683 square feet to 1,435 square feet, which are some of the largest units in the area.
The community was designed to give residents a resort-style feel and boasts a large pool area featuring cabanas, an outdoor kitchen, gas grills, outdoor TVs, and more. Other on-site amenities include a state-of-the-art fitness center, a pet park, dog spa, yoga studio, clubhouse with a game room and coffee station, elevators, valet trash stations, Luxor One package lockers, storage units, ample surface parking, attached and detached garages, and 24/7 on-site security.
“We wanted to build a community where residents felt relaxed, comfortable and safe. Sovereign Properties and Invest Capital Group carefully designed and selected all of the amenities and finishes so that the families living there feel like they can call Atlantica at Town Center home,” David Amiel, Investment Manager of Invest Capital Group.
All units have wood-inspired flooring, stainless steel appliances, quartz countertops, shaker kitchen cabinets and walk-in closets. Some units have screened balconies and patios and nine-foot-high ceilings.
The 360-unit property is over 60% leased. The 352-unit second phase, situated on land adjacent to phase one, is scheduled for a late 2023 groundbreaking, with completion anticipated by late 2024.
Atlantica at Town Center contracted the Davenport and in 2018 when there was small development in the area. “We believed that this was going to be the focal point for Davenport, and that’s what it’s become during the past five years,” said Katie Clarke, Sovereign Properties’ Chief Investment Officer.
Situated near Osceola Polk Line Rd. and Ancient Lake Wilson Rd., Atlantica at Town Center is close to Interstate 4, within a 15-minute drive from Disney World, Universal Studios, Orlando International Airport and Downtown Orlando. Davenportis also close to technology, trade, transportation and logistics employment hubs.
The property is Sovereign and Invest Capital’s second to be built under the Atlantica brand. The first, Atlantica Burleson, was completed in late 2022.
More Atlantica projects are being plotted or underway. These include the second phase of apartments in Davenport, Atlantica at Town Center Phase II, as well as Atlantica at Alamo on the west side of San Antonio, TX; and Atlantica at Daytona in Daytona Beach, FL.
Sovereign and Invest Capital Group target growing population and job centers across the Sun Belt market where median incomes are typically higher than the national average, and that offer A-rated school. Most often, the Atlantica brand focuses on locations in secondary markets that are close to larger metropolitan areas.
“Sovereign and Invest Capital Group, have been able to deploy capital and start new construction deals in a very challenging time,” Clarke said. She noted that even as multifamily construction has slowed, Sovereign and Invest Capital continue focusing on developments and unit delivery. “We remain very bullish on multifamily,” she added.

Powered by WPeMatico

RICHMOND, VA – Affiliates of Cantor Fitzgerald, a leading global financial services firm and real assets investment company, and Silverstein Properties, a leading global full-service real estate development, investment, and management firm, announced that they have entered into a joint venture with Collins Capital Partners, a nationally recognized real estate firm and Kaufman Jacobs, a real estate private equity firm.
The venture will develop The James at Springline, a mixed-use project including 298 rental units and 28,000 square feet of ground-level retail located in a qualified opportunity zone in Chesterfield County, near Richmond, VA.
The venture simultaneously closed on $53.6 million in construction financing from Truist Bank to develop the project. The investment is part of the first phase of a comprehensive master-plotted development known as Springline at District 60, a former shopping center that will be redeveloped into a 42-acre, mixed-use urban village located at the intersection of Route 60 and Chippenham Parkway. Demolition started in March 2023 and construction will occur in multiple phases. The site will include abundant green space and connectivity, with walking and biking trails, wide streetscapes, and structured parking. The groundbreaking of the first phase of development will take place on Thursday, September 28, 2023, with an on-site event.
“We are pleased to partner with Collins Enterprises on this development that promises to have a positive impact on the surrounding community,” said Chris Milner, Head of Real Estate Investment Management at Cantor Fitzgerald Asset Management.
The project site is one of seven parcels that make up the Springline Master Plot. The Chesterfield County Economic Development Authority (“EDA”) bought the Spring Rock Green shopping center with the intention of making a walkable urban center that will serve as the anchor of Chesterfield County. The EDA and Collins collaborated with Cooper Carry architectural firm to make the overall master plot. “We have assembled a top-notch team of partners to make this transformational project a reality,” said Art Collins, Managing Principal of Collins Capital Partners.
Phase one of Springline at District 60 is slated to include The James at Springline as well as a 150,000 square feet office building, a festival-like common area, sports tournament and entertainment venue, specialty market and a structured parking facility. Future phases will add more apartments, townhouses, additional commercial space, another office building, a luxury hotel, and entertainment venues. Upon its expected completion in 2025, The James at Springline will feature amenities including double-height lobby with office pods, conference area and fireplaces, interior courtyard with a pool and lounge areas, roof deck with a fitness center, and garage parking. “Springline at District 60 will offer a dynamic live, work and play environment for residents of Chesterfield County and greater Richmond”, said Jeff Sirkin, Managing Director of Collins Capital Partners.
“This will be a new and vibrant community in Chesterfield County and is another excellent example of the Qualified Opportunity Zone Program helping stimulate investment,” said Alex Cosio, Vice President, Silverstein Properties. “We are confident in Collins’ expertise to develop a project that will offer innovative opportunities and experiences to the area.”
Cantor and Silverstein launched an opportunity zone business in early 2019 to invest in, develop, redevelop and manage a diversified portfolio of institutional quality commercial real estate assets with an emphasis on multifamily properties located in qualified opportunity zones in the United States.
Cantor and Silverstein have a well-established relationship. Notably, the two firms share a historical connection to the tragic events of 9/11 at the World Trade Center and played central roles in the recovery that followed. This joint venture partnership is a natural extension of the companies’ shared history and underscores both firms’ commitment to rebuilding and supporting communities in need.

Powered by WPeMatico

KIRKLAND, WA – Evergreen Impact Housing Fund (EIHF), developer Inland Group, and Microsoft announced the full financing of the Polaris at Totem Lake affordable housing development in Kirkland, WA. Polaris is slated for completion in 2026.
Polaris will make more than 440 apartments that are affordable to people with different levels of income. This will include 260 affordable housing units for households earning 50-60% of the area median income (AMI), and 40 units for very low-income families earning 30-50% AMI. Designed with wrap-around services for those who had been experiencing homelessness, families living in the new development will have access to public transportation and resources through the nonprofit Hopelink, including onsite behavioral health providers to support their transition.
“Access to affordable, stable housing is especially vital at a time of economic uncertainty. More and more working families throughout Washington State are facing rising housing costs and growing threats of displacement,” said Kris Hermanns, fund manager of EIHF at Seattle Foundation. “In partnership with local investors and developers, EIHF helps to bridge funding gaps that stall large-scale housing projects with family-sized units. EIHF’s patient, low-interest financing helps ensure the folks who make our communities thrive—our health workers, teachers, store clerks, laborers, and firefighters—can call this region home.”
Microsoft has invested in EIHF since the Fund’s inception and is providing support for various stages of the Polaris project through several programs: land acquisition through the Washington State Housing and Finance Commission (WSHFC), direct construction financing, and permanent financing through EIHF, making it possible for this project to be realized.
“It will take bold leadership, partnership and ingenuity across our community to address the region’s housing and affordability crisis,” said Jane Broom, Senior Director, Microsoft Philanthropies. “EIHF is a fantastic example of how the private, public, and nonprofit sectors can work together to find new solutions that advance affordable housing development. We are pleased to provide much-needed capital to go Polaris forward.”
This is the second collaboration between EIHF and the developer Inland Group, whose portfolio includes 17 affordable apartment home communities across the western United States. “It is challenging to build large-scale affordable housing in Washington State, but working with EIHF and its investors allows projects like Polaris to happen. We’re thrilled that EIHF and Microsoft have stepped up to fill financing gaps,” said John Fisher, Developer at the Inland Group. “Helping working families get access to affordable apartments is truly a group effort and takes creative partnerships.”
WSHFC coordinated the resources for the Polaris project, including the allocation of bond cap and tax credits. WSHFC administers the Expanded Land Acquisition Program (ELAP), a collaboration between the Commission and Microsoft that enables developers to buy land and improved real property in east King County for affordable rental housing or single-family homes.
The full financing of the Polaris project is a testament to the power of collaboration and the urgent need to address the affordable housing crisis. It stands as an example of how public and private entities can come together to make positive, sustainable change in Washington State.

Powered by WPeMatico