GAIA Real Estate Relocates Its Headquarters From New York to Miami with Focus on Opportunities in Sun Belt and South Florida

GAIA Real Estate has secured an $83.8 million refinancing loan for Winchester Park & Woods, a 478-unit multifamily community in East Providence, R.I. Greystone underwrote the funding package, which will service the loan from Freddie Mac.

Investment firm Gaia Real Estate has secured an $83.8 million loan to refinance Winchester Park & Woods, a 478-unit multifamily rental building in East Providence, R.I. The financing was underwritten by Greystone, which will service the Freddie Mac loan, replacing a Fannie Mae loan that originated in 2018.

GAIA Real Estate has landed $83.8 million of agency debt to refinance a Rhode Island multifamily building, Commercial Observer can first report

The asset involved in this transaction is a multifamily property located at 125 Village Green North in Riverside, RI, comprising 478 units. The property was refinanced for an amount of $84,000,000 through agency debt. The refinance replaced a previous loan obtained in 2018, enhancing the property's financial standing in the market.

Gaia Real Estate moved its headquarters from New York to Miami, as it focuses on investment in South Florida’s multifamily market. 

Despite being one of the nation’s most expensive multifamily markets and a magnet for wealthy domestic migrants, Miami isn’t immune to the broader trends of a supply overhang, and investors are noticing.

GAIA Real Estate Holdings has sealed a one-year extension for its $48 million loan on a multifamily property in Williamsburg, Brooklyn, Commercial Observer has learned.

The loan from Raymond James Bank backs a 117-unit apartment building at 55 Hope Street that GAIA acquired for $80 million in 2022 from Hope Street Capital. The extension pushes the maturity date to Aug. 23, 2026. The Hope Street building, which sits midblock between Havemeyer Street and Marcy Avenue, was built in 1907 and renovated in 2012.

Financiers and other business people in the city fear that Mamdani, a democratic socialist, will be antagonistic. But few find themselves as directly in his crosshairs as apartment building owners. 

Mamdani is pushing for a host of housing changes to try to ease costs for renters. While he seems to have softened his stance toward working with private developers

As Miami’s skyline continues to reach new heights with luxury condos, Moderno Development Group and Gaia Real Estate Holdings are shifting focus to the ground level. Their joint venture, MILAS (Miami Land and Single-family), is a $300 million fund aimed at revitalizing single-family homes in the city’s urban core.

Moderno Development Group and Gaia Real Estate have formed a joint-venture that seeks to raise $150 million dollars to purchase single family homes in South Florida.

The two firms launched a $150 million fund called MILAS, which stands for Miami land and single-family, to buy hundreds of homes and townhouses in neighborhoods in and near the city’s urban core, said Doron Broman, founder and CEO of Miami-based Moderno. They also plan a second $150 million phase next year. 

The slower pace of interest rate cuts signaled lately by the Federal Reserve has not affected investor sentiments for value-add and core assets, according to CBRE’s latest quarterly Multifamily Underwriting Survey.

The era of falling apartment rents looks to be nearly over. 

A spike in rents during the early years of the pandemic sparked a historic apartment construction boom in 2023 and 2024. That crush of new inventory, especially in hot Sunbelt markets like Austin and Phoenix, led to oversupply and caused rents to fall in much of the country.

Brooklyn’s population loss over the past five years could make one believe that securing housing in the borough should be a breeze.

Gaia REIT, the real estate investment trust division of New York-based Gaia Real Estate, purchased the Virage apartments in Houston, from Crow Holdings for an undisclosed price.

After a pandemic-caused absence, a New York City-based real estate investment company has reentered Houston with the acquisition of a luxury apartment complex in the Rice Military area.

Gaia Real Estate Holdings LLC closed on Virage on Memorial, a 372-unit property at 5292 Memorial Drive, last month, the company said.

Houston isn’t a new market for Gaia Real Estate. The New York City-based private equity group, founded in 2009, has owned a portfolio of 21 properties and more than 6,400 residential units in the city.