Author

Channing Hamilton

330 S. Home Street in Oceanside, California
CaliforniaFinanceNewsWestern

JLL Capital Markets Arranges $5.1 Million Refinancing for 21-Unit Property in Oceanside, California

by Channing Hamilton

OCEANSIDE, CALIF. — JLL Capital Markets has arranged a $5.1 million refinancing for 330 S. Home Street, a 21-unit community in Oceanside, approximately 40 miles north of San Diego. The borrower was a joint venture between Westview Real Estate and Pace Properties. JLL worked on behalf of the borrower to secure the three-year, fixed-rate loan through a regional bank. Chris Collins and Emily Pohlman led the JLL Capital Markets Debt Advisory team. The property consists of 17 apartments that were built in 1970 and renovated in 2023, as well as four newly constructed accessory …

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FinanceGeorgiaInvestment SalesNewsSoutheast

CBRE Arranges $45.9 Million Acquisition Financing for The Preston Near Atlanta

by Channing Hamilton

MCDONOUGH, GA. — CBRE has negotiated $45.9 million in acquisition financing for The Preston, a 334-unit community located at 100 Preston Creek Drive in the southeast Atlanta suburb of McDonough. The borrower, ARC Multifamily, purchased the asset for $52.4 million. CBRE originated a $34.2 million senior Fannie Mae loan and arranged an $11.7 million preferred equity investment from Related Fund Management on behalf of ARC Multifamily. Blake Cohen and Charlie Clark of CBRE Capital Markets’ Debt & Structured Finance team in Atlanta arranged the financing.  The Preston was built in …

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The Plaza Taos in Chandler, Arizona
ArizonaFinanceInvestment SalesNewsWestern

Institutional Property Advisors Arranges Sale of 164-Unit The Plaza Taos in Chandler, Arizona

by Channing Hamilton

CHANDLER, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale and financing of The Plaza Taos, a 164-unit community in the Phoenix suburb of Chandler. The buyer and seller were not disclosed. The Plaza Taos was built in 2023 on nine acres. Apartments come in one-, two- and three-bedroom floor plans. Amenities include a pool and spa, pet park, indoor dog spa and outdoor kitchen with gas grills.

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Annika Place in Traverse City, Michigan
Affordable HousingDevelopmentLeasing & MarketingMichiganMidwestNews

Woda Cooper Cos. Opens $14.7 Million Affordable Housing Development in Traverse City, Michigan

by Channing Hamilton

TRAVERSE CITY, MICH. — Woda Cooper Cos. has opened Annika Place, a $14.7 million affordable housing project located at 947 S. Garfield in Traverse City. Annika Place offers 53 units, including 29 one-bedroom and 24 two-bedroom residences. The property is available to households earning between 30 and 80 percent of the area median income. Monthly rates range from $377 to $1,125 depending on the income restriction and size of the unit. The Traverse City Housing Commission will provide rental assistance for eight units, which will be occupied by formerly homeless …

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Kōz in Lower Queen Anne in Seattle
Affordable HousingDevelopmentFinanceNewsWashingtonWestern

MSquared, Kōz Development Secure $48 Million in Financing for Workforce Housing Project in Seattle 

by Channing Hamilton

SEATTLE — MSquared and Kōz Development have secured $48 million in financing for Kōz in Lower Queen Anne, a 169-unit workforce housing project in downtown Seattle. The community will offer 69 units to households earning up to 80 percent of the area median income (AMI). An additional 17 apartments will be restricted through the Mandatory Housing Affordability Program for 75 years and will be available to households earning between 40 and 60 percent AMI. The remaining units will be rented as attainable workforce housing. The financing includes a $9.7 million …

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2326 Greenbrier Drive in Oceanside, California
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $8.6 Million Sale of 25-Unit Property in Oceanside, California

by Channing Hamilton

OCEANSIDE, CALIF. — CBRE has arranged the sale of a 25-unit community located at 2326 Greenbrier Drive in Oceanside, approximately 40 miles north of San Diego. The asset traded hands for $8.6 million in a 1031 exchange. Dan Blackwell, Mike O’Neill and Amanda Fielder of CBRE represented the buyer, a repeat client based in San Diego County, in the transaction. The seller was based in South Orange County. The five-building complex totals 19,278 square feet on a 1.2-acre lot. The property was built in 1980 and remodeled in 2019. The …

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Resia Tributary in Douglasville, Georgia
DevelopmentGeorgiaLeasing & MarketingNewsSoutheast

Resia Opens 433-Unit Resia Tributary in Douglasville, Georgia

by Channing Hamilton

DOUGLASVILLE, GA. — Resia has opened Resia Tributary, a 433-unit community located in Douglasville, approximately 20 miles west of Atlanta. Located at 1851 Market Street, Resia Tributary spans seven five-story buildings. Units come in studio, one- and two-bedroom floor plans. Apartments feature stainless steel appliances, in-unit washers and dryers, granite countertops and vinyl plank flooring. Community amenities include a fitness center and a pool. The property also includes a two-story building with 9,000-square-foot retail space on the first floor and 13 one-bedroom lofts available for lease on the second floor. 

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DevelopmentLeasing & MarketingNew JerseyNewsNortheast

Adoni Property Group Opens 40-Unit The Franklin Westfield in Westfield, New Jersey

by Channing Hamilton

WESTFIELD, N.J. — Adoni Property Group has opened The Franklin Westfield, a 40-unit community in Westfield, 16 miles southwest of Manhattan. The community offers one-, two- and three-bedroom units ranging from 750 to over 2,650 square feet. Amenities include a rooftop deck, pool, putting green, lounge and dining/wine tasting room, fitness center, multi-sport simulator, business center, quiet room, pet wash and dog park.

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The Rail in St. Louis
DevelopmentMidwestMissouriNews

ARCO Construction Underway on $61 Million The Rail in St. Louis

by Channing Hamilton

ST. LOUIS — ARCO Construction Co. is underway on The Rail, a 268-unit development in St. Louis. The $61 million project will comprise 278,500 square feet across four stories. The Rail will offer studio, one- and two-bedroom units. Planned amenities include a courtyard, pool, grilling area, game lounge, fitness center, gathering kitchen and three-story parking garage. HDA designed the community, which is slated to complete this fall.

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Participants in the architecture, design and construction panel at InterFace Affordable Housing Southeast
Affordable HousingDevelopmentFeaturesGeorgiaSoutheast

Construction Experts Emphasize Teamwork as Key to Meeting Affordable Housing Building Standards

by Channing Hamilton

ATLANTA — In order to satisfy long-term affordability commitments, builders and designers of affordable housing must be well educated about the sector’s exacting design and construction rules, which are typically driven by the source of a project’s funding. A panel of construction experts speaking at the InterFace Affordable Housing Southeast conference held Thursday, May 9 at Cobb Galleria Centre shared insights about how their industry is meeting these standards today. The inaugural conference hosted by France Media’s InterFace Conference Group and Southeast Multifamily & Affordable Housing Business magazine drew approximately 170 industry …

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