Rockpoint and The Morgan Group formed of a joint venture to develop Caroline at Sunrise, a garden-style apartment community in Sunrise, Florida. Current land owner Humbold Real Estate Ventures will also participate in the joint venture. The S. Florida Business Journal reports Rockpoint Group acquired the site in Sunrise for $26.21 million and obtained a $111 million construction loan.
The development will feature a total of 452 units, including 412 apartments and 40 townhomes. Construction is scheduled to begin in early 2026, with first units expected to deliver in late 2027. The property will showcase amenities that include a two-story clubhouse with a fitness center and yoga studio, a pool, co-working space, pet spa, outdoor lounge, and dog park.
Rockpoint has closed on or committed to 140 residential investments since 1995, comprising more than 97,000 multifamily units.
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