Author

Channing Hamilton

Tuscany Village in Sanford, Florida
DevelopmentFinanceFloridaNewsSoutheast

Royal Palm Cos., Mattoni Group Secure $86 Million Construction Financing for Tuscany Village Near Orlando

by Channing Hamilton

SANFORD, FLA. — A partnership between Royal Palm Cos. and Mattoni Group has secured $86 million in construction financing for Tuscany Village, a 420-unit development in the north Orlando suburb of Sanford. The financing comprises $68 million in debt from a partnership between City National Bank and Abanca USA and $18 million in preferred equity from Origin Investments. Tuscany Village is situated at 4201 W. First Street and comprises 21 acres. Construction is slated to begin in May. The community will be delivered in phases by 2026.

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AlabamaCompany NewsNewsPeople NewsSoutheast

Capstone Development Partners Hires Jordan Gaston as Vice President for New Workforce Housing Business Line

by Channing Hamilton

BIRMINGHAM, ALA. — Capstone Development Partners has hired Jordan Gaston to the new leadership role of vice president, head of workforce housing. In this role, Gaston will take part in the company’s efforts to expand its business into the financing, development and operation of workforce housing. He previously served as the Director of Finance within Capstone’s finance division from 2016 to 2021. Most recently, he held the position of vice president in Citigroup’s public finance department.

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La Pat Courtyard Apartments in Westminster, California
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $10 Million Sale of La Pat Courtyard Apartments in Westminster, California

by Channing Hamilton

WESTMINSTER, CALIF. — CBRE has arranged the sale of La Pat Courtyard Apartments, a 30-unit community in Westminster. The community was purchased by a private investor for $10 million in a 1031 exchange. Dan Blackwell and Andrew Boukather of CBRE represented the Los Angeles-based seller in the transaction. Additionally, Blackwell and Boukather, along with Amanda Fielder, represented the Orange County-based buyer. La Pat Courtyard Apartments is situated on a 0.9-acre lot between Westminster Boulevard and Humboldt Avenue. The property was originally built in 1961 and recently underwent $1.4 million in extensive interior and exterior …

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Hangar at Thunderbird in Glendale, Arizona
ArizonaInvestment SalesNewsWestern

IPA Brokers $69 Million Sale of Hangar at Thunderbird in Glendale, Arizona

by Channing Hamilton

GLENDALE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of and financing for Hangar at Thunderbird, a 266-unit community in Glendale. Decron Properties purchased the asset from P.B. Bell for $69 million. Hangar at Thunderbird was completed in 2023. Community amenities include a pool, spa, outdoor game patio and community playground with evening lighting. Apartments feature nine-foot ceilings, vinyl plank flooring, laundry closets with full-size washers and dryers, closets with build-in shelving, and patios or balconies with exterior storage. Steve Gebing and Cliff …

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Build-to-RentDevelopmentNewsNorth CarolinaSoutheast

Stark Enterprises Breaks Ground on Build-to-Rent Community in Bolivia, North Carolina

by Channing Hamilton

BOLIVIA, N.C. — Stark Enterprises, in collaboration with its affiliated companies Stark Living and Arbor Construction, has begun constructing Oak Harbor Village, a 23-acre build-to-rent community in Bolivia, 22 miles southwest of Wilmington, North Carolina. The asset will offer 130 ranch-style and townhome units. Units will come in one- to three-bedroom floor plans. Planned amenities include a clubhouse, fitness center, dog park, playground, pool, sundeck, grilling stations and entertainment areas. The project is slated to complete in the summer of 2025, with pre-leasing slated to begin several months beforehand.

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Jefferson Castle Hills in Lewisville, Texas
DevelopmentNewsTexas

JPI Breaks Ground on 761-Unit Jefferson Castle Hills in Lewisville, Texas

by Channing Hamilton

LEWISVILLE, TEXAS — JPI has broken ground on Jefferson Castle Hills, a two-phase project in the Dallas suburb of Lewisville. Located within the 2,900-acre master-planned Castle Hills development, Jefferson Castle Hills will comprise 761 units. Phase I will deliver 380 units, while phase II will include 381 apartments. Units will come in one-, two- and three-bedroom floor plans. Planned amenities include a pedestrian sky bridge, fitness center with a yoga studio, dog park, courtyards, pool decks and a dedicated parking garage. JPI plans to open Jefferson Castle Hills’s first units …

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Ray Phoenix in Phoenix
ArizonaDevelopmentNewsWestern

Ray, VeLa Development Break Ground on 401-Unit Tower in Phoenix

by Channing Hamilton

PHOENIX — Ray and VeLa Development Partners have broken ground on Ray Phoenix, a 26-story residential tower located within the Roosevelt Row Arts District in Phoenix. Ray Phoenix will offer 401 apartments. The unit mix includes 193 studios, 116 one-bedrooms and 92 two-bedroom residences. The building will total 523,000 square feet. Planned amenities include a fitness center and yoga studio, pool, communal kitchen, lounge with a theater, fireplace lounge, dog wash stations, gardens and workspaces. The property will also offer more than 4,500 square feet of ground-level retail space. Ray …

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FinanceNewsOklahomaTexas

Institutional Property Advisors Arranges $13.1 Million in Equity Financing for Oaks at Covell in Edmond, Oklahoma

by Channing Hamilton

EDMOND, OKLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged $13.1 million in joint venture equity financing for a project in the Oklahoma City suburb of Edmond. Oaks at Covell will comprise 102 townhomes. Units will come in two-, three- and four-bedroom floor plans. Justin Shuart and Travis Headapohl of IPA worked on behalf of ACRE Development Partners to arrange the financing with an undisclosed partner.

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38 Jackson Street in Hoboken, New Jersey
DevelopmentFinanceNew JerseyNewsNortheast

Madison Realty Capital Provides $97 Million for Industrial-to-Multifamily Conversion Project in Hoboken, New Jersey

by Channing Hamilton

HOBOKEN, N.J. — Madison Realty Capital has provided $97 million in financing for a project in Hoboken that will convert a five-story industrial building into a 110-unit community. Once converted, the complex will rise nine stories. Units will come in one- through five-bedroom floor plans. Planned amenities include a pool, fitness center, clubroom, lounge and grilling areas. The property will also offer 50,000 square feet of retail space, as well as a 300-space parking garage. Construction is underway and is slated to complete in the third quarter of 2025. The …

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Investment SalesNew YorkNewsNortheast

Marcus & Millichap Brokers $12.6 Million Sale of Four Properties in Manhattan

by Channing Hamilton

NEW YORK CITY — Marcus & Millichap has brokered the $12.6 million sale of four properties totaling 113 units in the Harlem neighborhood of Manhattan. The buildings offer two-, three-, four- and five-bedroom apartments, as well as eight retail spaces. Seth Glasser, Michael Fusco and Benny Katz of Marcus & Millichap represented the seller and procured the buyer in the deal. Both parties were private investors that requested anonymity.

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