FIRST MULTIFAMILY DEVELOPMENT UNDERWAY AT WILDLIGHT

WILDLIGHT, FL – May 8, 2018 – Today, Raydient Places + Properties announced that Atlanta-based Varden Capital Properties (VCP) and Tellus Partners will work with Buckhaven Construction Services (BCS) to develop a 279-unit apartment complex on 12.7 acres in Wildlight, the new town under development in Nassau County. The apartment complex will include a variety of amenities including a pool, fitness center, clubhouse and dog park.

“Tellus Partners is excited to work with Varden Capital Properties and Buckhaven Construction Services to develop the first apartment complex in Wildlight,” said Garrison McMillan, Principal, Tellus Partners. “We were immediately drawn to Wildlight’s master plan and approach to architecture, inspired by the area’s culture, heritage and natural beauty.”

Wildlight’s apartments will range in size from one bedroom, one bathroom at 662 sq. ft. to three bedrooms, three bathrooms at just over 1,300 sq. ft. The development team engaged locally-based architect, Group 4 Design, to design Wildlight’s first multifamily residential development using the community’s Florida Lowcountry architectural design guidelines.

“Wildlight’s apartments will provide another quality housing option for future residents within the Florida Lowcountry,” said Charles Adams, Vice President of Community Development for Raydient Places + Properties. “We look forward to working with Tellus Partners, Varden Capital Properties and Buckhaven Construction Services to bring the apartments to life.”

The first units are expected to be available to lease in 2019. Final construction completion is planned for 2020. Terms of the sale have not been disclosed.

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About Varden Capital Properties

Varden Capital Properties, LLC (VCP), based in Atlanta, GA, is a fully integrated real estate firm focused on the acquisition, renovation, redevelopment and management of deep value-add multifamily communities as well as the development of new apartment communities across the Southeast. VCP has acquired approximately 20,000 apartment units over the last six years.

About Tellus Partners

Tellus Partners, LLC (Tellus), based in Atlanta, GA, is a Multifamily Development Group focused on Garden Style Stick Frame Construction. Tellus is currently in production on just over 1600 Units. The principals of Tellus bring a fully vertically integrated approach to the construction and development of their properties focusing on Secondary Markets across the SE.

About Buckhaven Construction Services

Buckhaven Construction Services Inc. (BCS), based in Atlanta, GAwas established in 2004, and has become the industry leader in the Multifamily space in the Southeastern United States. In the past 10 years Buckhaven has completed over $300MM in project volume.During this tenure, the company has developed many levels of Core Competencies that has allowed the company to achieve not only a competitive advantage in the space but also deliver an unmatched value proposition for its customers. BCS has assembled a new construction team tailored specifically to the garden-style multifamily wood frame construction product. The team includes two qualifiers licensed in 15 states with over eight thousand new construction units & Forty-Five Thousand Units re-positioned.

About Wildlight

Wildlight is envisioned as a new town inspired by a character, culture and pattern of living that we call “Florida Lowcountry,” where play is a part of every day and the natural world is a natural part of life. The plan for Wildlight includes a mix of homes, townhomes and rental apartments together with businesses, shops and restaurants, a new elementary school and a system of connecting trails and pathways intended to promote a walkable community and healthy lifestyle. Our Phase 1 plan is flexible and currently designed for about 1,000 homes throughout 260 acres, approximately. In addition, the community will have approximately 350 acres of permanently preserved open space. Wildlight offers comfortable and friendly Florida Lowcountry living located 20 miles north of Jacksonville and just east of Interstate-95 on A1A. There is easy access to both Amelia Island and the Jacksonville International Airport. Wildlight is being created by Raydient Places + Properties, a taxable subsidiary of Rayonier Inc., a real estate investment trust. For more information please visit Wildlight.com.