LOS ANGELES — Kevin Sheehan has rejoined JLL Capital Markets as Managing Director in the firm’s Los Angeles office. In this new role, Sheehan will be responsible for institutional multifamily investment sale advisory and equity placement within the metro-Los Angeles area. Prior to rejoining JLL, Sheehan was responsible for multifamily investments in Southern California and nationally for an undisclosed developer.
CHICAGO — JLL Capital Markets has added Rasto Gallo and Mike Klaskin as senior directors with the firm’s national affordable housing investment sales advisory team. Gallo and Klaskin will be based out of the firm’s Chicago office. They will report to Senior Managing Directors Danny Kauffman and Jaime Fink, who co-lead the office, as well as Senior Managing Director Doug Childers, who serves as the affordable housing investment sales advisory group leader. Additionally, they will work alongside Managing Director Michael Fox and Director Melissa Bloem on the affordable housing investment sales …
TUCSON, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Peak at Oro Valley, a 330-unit property in Tucson. Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David represented the seller and procured the buyer. The identities of both parties were not disclosed. The Peak at Oro Valley was built in two phases 1984 and 1994 on a 15-acre site. The property offers a mix of one-, two- and three-bedroom apartments that average 848 square feet in size. Amenities include three pools, …
FLORHAM PARK, N.J. — Garden Communities has begun leasing 147 Columbia, a 126-unit complex in the Northern New Jersey borough of Florham Park. The site is located at 147 Columbia Turnpike and formerly housed an office building. The redevelopment began last year. The community now offers one- and two-bedroom floor plans that range from 861 to 1,535 square feet in size. Units feature with stainless steel appliances, custom cabinetry and individual washers and dryers.
AURORA, COLO. — A partnership consisting of Bascom Group and an affiliate of Oberndorf Real Estate Management, formerly known as The Axton Group, has acquired Hearthstone at City Center in Aurora. The 360-unit asset traded hands for $74 million. The seller was not disclosed. Aurora is an eastern suburb of Denver. Hearthstone at City Center is located at 932 South Helena Way. The property features one-, two- and three-bedroom units across 41 buildings on an 18.2-acre site. Amenities include a pool, outdoor grilling and picnic areas, a fitness center and …
Chicago can’t match the number of construction cranes crowding the skylines in high-growth markets such as Nashville, Austin or Atlanta. But now there’s at least one high-profile symbol of growth in downtown Chicago as construction gets under way at 400 Lake Shore, a massive two-tower apartment development. Developer Related Midwest recently secured more than $500 million in construction financing for the project located on the last vacant waterfront site where the Chicago River meets Lake Michigan. The first phase, already under construction, includes a 72-story building with 635 new apartments, …
PHOENIX — JLL Capital Markets has added Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke to the firm’s multifamily investment sales advisory team in Phoenix. The team will focus on multifamily investment sales, including private capital and institutional deals. They will report to Ben Geelan and Brad Miner, who serve as co-leads of the Phoenix office. Prior to joining JLL, the team was a part of CBRE’s Phoenix Multifamily Investment Properties team. Most recently, Smuckler and Seaman held positions as executive vice presidents and co-leads of the team, and …
PHOENIX — IDEAL Capital Group has acquired Sentio, a 325-unit property in Phoenix, from Hines. The asset traded hands for $108 million. Sentio was built in 2023. Units feature open-concept floor plans, smart-home technology, energy-efficient appliances and window treatments. Residents have access to interconnected amenity spaces and walking paths. Asher Gunter, Matt Pesch, Austin Greon and Sean Cunningham of CBRE represented the seller in the deal. Trevor Breaux, Troy Tegeler and Ryan Greer of CBRE Debt & Structured Finance arranged financing for the buyer.
HIALEAH, FLA. — MG Developer has completed the vertical construction of Metro Parc, a transit-oriented community in the Miami suburb of Hialeah. Upon completion, the property will comprise 559 units across two towers. Units will come in two-bedroom floor plans and range in size from 500 to 800 square feet. The property will also feature ground-floor retail space, including a Latin-inspired food marketplace. Metro Parc is the first phase of Metro Center, a mixed-use development that will comprise roughly 2.3 million square feet of multifamily and retail space. Metro Center …
SANDY, UTAH — Institutional Property Advisors (IPA) has brokered the sale of Meridian Heights, a 96-unit community in the Salt Lake City suburb of Sandy. Meridian Heights was built in 1998 on five acres. The property offers one- and two-bedroom units, as well as amenities such as covered parking, a clubhouse and laundry room. Tablerock Capital sold the the asset to Orion Real Estate Partners for an undisclosed price. Danny Shin and Brock Zylstra of IPA represented the seller and procured the buyer.