Author

Channing Hamilton

TUCSON, ARIZ. — Air Estates LLC has acquired Flores Apartments, a 20-unit community in Tucson, from 225 W Flores LLC and Colonia Properties TIC I LLC. Flores Apartments is located at 225-255 W. Flores Street. The investment property traded hands for $1.3 million. Allan Mendelsburg and C. Joey Martinez of Cushman & Wakefield | PICOR represented the seller in the transaction.

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Avalon Merrick Park in Miami

MIAMI — Mast Capital and Avalon Bay Communities have completed Avalon Merrick Park, a 254-unit property located at 3811 Shipping Ave. in the Coral Gables neighborhood of Miami. The community offers studio, one-, two- and three-bedroom apartments. Units range from 456 to 1,530 square feet in size. Amenities include a pool, fitness center, resident lounge with co-working spaces and a pet spa. Arquitectonica designed the community. First Florida was the general contractor on the project.

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The Juniper in Dallas

DALLAS — Larkspur Capital is currently underway on the development of The Juniper, a 219-unit project located at 4003 Commerce Street in the Exposition Park neighborhood of Dallas. The property is situated on 1.4-acres. The Juniper will feature studio, one- and two-bedroom units, which will range from 567 to 1,992 square feet in size. The community will also include 18 flat-style homes and a number of penthouses. Planned amenities include a pool, dog park, outdoor grilling and dining stations and a clubhouse. Corgan is the project architect, and OHT Partners …

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Ranch at Moorpark in Moorpark, California

MOORPARK, CALIF. — Decron Properties has sold Ranch at Moorpark, a 376-unit property in Moorpark, approximately 50 miles west of Los Angeles. AEW Capital Management acquired the asset for $133.2 million. Ranch at Moorpark is situated at 51 Majestic Court. Amenities include a fitness center, yoga and spin studio, clubhouse with chef’s kitchen, children’s play area, dog park, pool, poolside barbecue and dining areas, fire pits and seating areas.

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AVONDALE, ARIZ. — Trilogy Investment Co. and Pinnacle Partners have begun horizontal construction at Rêve at Avondale Station, a build-to-rent development in the Phoenix suburb of Avondale. The community will comprise 107 units on a 15-acre site. Residences will come in two- and three-bedroom floor plans and will include smart home technology packages. Planned amenities include a clubhouse, pool and dog park. The community will also include sustainability features such as solar panels. Rêve at Avondale Station is Trilogy Investment Co.’s third project in the Avondale area and its fifth …

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BROOKHAVEN, GA. — High Street Residential, the residential subsidiary of Trammell Crow Co., has acquired a four-acre parcel in the Atlanta suburb of Brookhaven. The buyer plans to develop a 350-unit community on the site. The development will be called The Residences at Perimeter Summit. Construction on the project is slated to begin by the end of the year. The project is expected to welcome its first residents in the fall of 2026. The Residences at Perimeter Summit will offer a mix of studio, one- and two-bedroom units with an …

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CONCORD, N.C. — Lansing Melbourne Group and Denholtz Properties have begun pre-leasing for Novi Rise, a 167-unit community located at 30 Market Street in Concord. The property will rise seven stories. Community amenities include a lounge, fitness center, work pods, conference room, dog wash station and package lockers. Novi Rise will also feature 4,757 square feet of ground-level retail space, which will be leased to Salon Lofts. Novi Rise is scheduled to open on May 15.

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ALBANY, ORE. — Gantry has brokered a $40.5 million permanent loan to retire construction financing for a 264-unit complex in Albany. Blake Hering and Crischell Bacarro of Gantry’s Portland and Los Angeles offices represented the borrower in the transaction. The five-year, interest-only agency loan was provided by Fannie Mae through Walker & Dunlop with a fixed rate. The borrower was a private real estate investor. The community consists of 23 buildings on a 17-acre site. Apartments come in one-, two- and three-bedroom floor plans. Amenities include a sports court, playground, …

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Blu South in Pineville, North Carolina

PINEVILLE, N.C. — JLL Capital Markets has negotiated the sale of Blu South, a build-to-rent community in the Charlotte suburb of Pineville. Hines U.S. Property Partners purchased the asset from Cornerstone Development for an undisclosed price. The transaction consists of the sale of 365 existing units, as well as the forward sale of 186 units. Casey Sherman and John Gavigan led the JLL Capital Markets Investment Sales Advisory team. Construction on Blue South began in 2022 and is slated for full completion in 2025. At full build-out, the property will feature …

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Ebtide in Costa Mesa, California

COSTA MESA, CALIF. — CBRE has arranged the $5.8 million sale of Ebtide, a 12-unit property in Costa Mesa. Dan Blackwell, Mike O’Neill and Jack O’Connor of CBRE represented both the buyer and the seller in the non-exchange deal. The buyer was a private investor based in Newport Beach, California. The seller is based in Nashville, Tennessee. Ebtide was built in 1960 and renovated in 2022. The property is situated on a 0.3-acre lot at 1993 Church Street. Ebtide comprises 7,632 square feet across two buildings. Units come in one-bedroom layouts …

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