Latest news with #WoodfieldDevelopment
Hamilton Spectator
24-07-2025
- Business
- Hamilton Spectator
EB5 Capital Celebrates the Closing of Atlanta Woodrow Apartments (JF41)
WASHINGTON, July 24, 2025 (GLOBE NEWSWIRE) — EB5 Capital is pleased to announce the closing of its $42.4 million investment in Woodfield Development's Atlanta Woodrow Apartments (JF41) project. Located in Atlanta, Georgia, the high-unemployment Target Employment Area (TEA) project is a Class A multifamily development featuring 300 units across four modern apartment buildings and 25 townhomes. The development will include expansive amenity space, including a resort-caliber pool and lounge, commercial-quality fitness center, and vibrant gaming courtyard, all complemented by top-of-market interiors and finishes. Considered a significant tech hub and corporate city, Atlanta is home to many major companies including UPS, Coca-Cola, Delta Airlines, Home Depot, and CNN. JF41 is situated in the South Atlanta submarket, a rapidly developing area near downtown. The location offers convenient access to several major transportation routes and is only ten miles from Hartsfield-Jackson Atlanta International Airport, the world's busiest airport. 'This project is a great example of how the EB-5 Program helps redevelop communities,' said Jonathan Mullen, EB5 Capital's Senior Vice President of Investments. 'We're proud to be part of a project that will bring over 900 new jobs to a high-unemployment area and contribute to the continued growth of the South Atlanta region.' JF41 marks EB5 Capital's 21st multifamily investment and second project in the state of Georgia. Construction is expected to start in Q3 2025 and reach completion in Q1 2027. About EB5 Capital EB5 Capital provides qualified foreign investors opportunities to invest in job-creating commercial real estate projects under the United States Immigrant Investor Program (EB-5 Visa Program). As one of the country's oldest and most active Regional Center operators, the firm has raised more than one billion dollars of foreign capital across over 45 EB-5 projects. Headquartered in Washington, DC, EB5 Capital's distinguished track record and leadership in the industry has attracted investors from over 75 countries. Please visit for more information. Contact: Katherine Willis Director, Marketing & Communications media@
Yahoo
20-06-2025
- Business
- Yahoo
Multifamily starts rise 5% YOY for buildings with 5 or more units
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter. Starts for buildings with five or more units fell 30.4% month over month in May and rose 5% year over year to a seasonally adjusted rate of 316,000, according to a monthly report from HUD and the U.S. Census Bureau. At the end of May, 733,000 units were under construction, an 18.9% YOY drop and a 1.5% month-over-month decline. Multifamily developers finished an annualized 487,000 apartments in buildings with five or more units, a 6.7% YOY decline and a 0.2% month-over-month increase. Overall housing starts came in at a seasonally adjusted annual rate of 1.3 million in May — a 4.6% decrease YOY and a 9.8% drop versus April. Single-family home starts were at a rate of 924,000 homes, a 7.3% YOY decline and a 0.4% month-over-month increase. Apartment developers pulled permits for a seasonally adjusted rate of 444,000 apartments in buildings with five units or more, a 13% YOY increase and a 1.4% increase compared to April. The debt market isn't a significant hurdle as large developers plan new projects, according to Greg Bonifield, founding partner at Charleston, South Carolina-based apartment developer Woodfield Development. 'The debt markets are still very liquid,' Bonifield told Multifamily Dive. 'A multitude of debt lenders are anxious to deploy capital in the multifamily sector, and at what I consider to be attractive spreads.' Bonifield said that traditional banks, life companies and other institutional players are active and liquid in the space. 'You have seen numerous funds put together that are actively deploying debt, especially in the bridge loan area,' Bonifield said. 'Those are people wanting to put out money in the two- to five-year time frame for people that want to hold the assets before selling them or putting longer-term debt on.' However, equity continues to be an issue. 'On the equity side, it's very selective there,' Bonifield said. 'There absolutely is [limited partner] common equity available for new multifamily development.' But that equity is interested in well-located projects with strong sponsors. 'It is generally more available for very established development groups, but it's limited and strategic, and it's both domestic and foreign,' Bonifield said. Click here to sign up to receive multifamily and apartment news like this article in your inbox every weekday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-06-2025
- Business
- Yahoo
Woodfield, Northwestern Mutual sell Florida apartment tower for $87M
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter. Property: Griffis West Palm Buyer: Griffis Residential Seller: Northwestern Mutual Life Insurance Co. and Woodfield Development Property type: High rise Units: 223 Location: West Palm Beach, Florida Total purchase price: Earlier this month, Griffis Residential entered the South Florida market by purchasing Anya, a 223-unit high-rise in West Palm Beach, Florida, for $87 million, according to a news release. The Greenwood Village, Colorado-based owner and operator acquired the property, which also has 3,132 square feet of retail space, from Northwestern Mutual Life Insurance Co. and Charleston, South Carolina-based Woodfield Development, No. 21 on the National Multifamily Housing Council's most recent Top 25 developers list. 'Buyer interest in Anya was exceptionally strong, multiple pension fund advisers vied for the property,' Greg Bonifield, co-founder of Woodfield, told Multifamily Dive. 'Its premier location in Downtown West Palm Beach, high-end finishes and amenities, and the unprecedented growth in Palm Beach County drew numerous buyers to Anya, despite challenging capital market conditions.' Griffis Residential has rebranded Anya, built in 2023, as Griffis West Palm. The property offers studio to three-bedroom apartments, ranging in size from 535 to 1,579 square feet, according to Rents sit between $2,495 and $7,295. Griffis West Palm's features include a year-round resort-style pool with cabanas, coworking pods, an outdoor yoga studio, outdoor grilling stations, a rooftop deck, a 24-hour fitness center with spin room, electric vehicle charging stations and package lockers, according to The buyer purchased the property through Griffis Residential Income Trust, an open-end, perpetual life multifamily fund launched in 2020. The transaction marks GRIT's ninth acquisition and was supported by a 10-year, fixed-rate, interest-only financing structure. Griffis owns and manages approximately 8,000 units and has roughly $3.2 billion in assets under management in 10 markets. The firm is prioritizing acquiring high-quality, core apartment properties in markets with strong economic and demographic trends, according to Ian Griffis, chairman and co-CEO of the firm. 'Its resilient fundamentals and income-producing characteristics align with our objective to deliver stable cash flow and long-term value through disciplined asset-level execution,' Griffis said about the West Palm Beach area in the news release. Despite the sale, Bonifield says the multifamily transaction environment is still slower than he would prefer. 'Deals that are transacting are well located and are typically sub-five caps, which is positive,' Bonifield recently told Multifamily Dive. 'There's just not a lot of transactions. But there is a lot of interest in deals that go on the market." Click here to sign up to receive multifamily and apartment news like this article in your inbox every weekday. Sign in to access your portfolio
