News: Brokerage

Outside the Region: NEI General Contracting starts four Fla. projects for The Millennia Cos.

Jacksonville, FL NEI General Contracting has started renovations to 768 apartments at four properties on behalf of The Millennia Cos. Renovations could include upgrades to the interiors, exteriors, community buildings and common areas.

The Millennia Cos. specialize in the acquisition, rehabilitation, and management of affordable and market-rate properties. The four apartment complexes include Valencia Way (formerly known as Eureka Gardens), Palmetto Glen, The Weldon and Calloway Cove.

“We retained NEI General Contracting due to their expertise in managing complex projects throughout a wide-range of communities,” said Frank Sinito, CEO of The Millennia Cos. “NEI has a thorough understanding of what it takes to successfully renovate multifamily developments, and we can’t wait to see the transformation that will benefit both the residents and greater Jacksonville community.”

Project team members include:

Valencia Way

  • General Contractor: NEI General Contracting
  • Architect: Dimit Architects, LLC
  • Mechanical, Electrical and Plumbing (MEP) Engineer: WHS Engineers
  • Civil Engineer: Florida Engineering Group
  • Structural Engineer: Craig S. Cohen, P.E.

Palmetto Glen, The Weldon, and Calloway Cove

  • General Contractor: NEI General Contracting
  • Architect: The Architectural Team, Inc.
  • Mechanical, Electrical and Plumbing (MEP) Engineer: Melling Engineering
  • Civil Engineer: Florida Engineering Group
  • Structural Engineer: Odeh Engineers, Inc.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.