Author

Channing Hamilton

Meridian Heights in Sandy, Utah

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.

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Chase Village in Eugene, Oregon

EUGENE, ORE. — JLL Capital Markets has arranged the $80.5 million refinancing of Chase Village, a 536-unit community in Eugene. Chase Village was built in 1990. The complex offers one-, two- and three-bedroom apartments. Units feature full kitchens, in-unit laundry, wood plank flooring and walk-in closets. Amenities include a pool, basketball court, fitness center, outdoor lounge spaces, a basketball court, grilling area and car wash area. JLL secured the five-year loan through Freddie Mac Multifamily. Horizon Realty Advisors was the borrower. The loan will be serviced by JLL Real Estate Capital LLC. …

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Mike Miller, Managing Director, Berkadia

Along with Dallas and Houston, San Antonio is one of three powerhouse multifamily markets that make up the Texas Triangle. Multifamily & Affordable Housing Business asked Mike Miller, managing director for Berkadia San Antonio, for his take on the metro area’s investment and development trends. MAHB: On the map, how does Berkadia define the San Antonio multifamily market?  Miller: Our team defines and services San Antonio proper as well as Boerne and New Braunfels, additionally, we cover the remainder of South Texas.   MAHB: Berkadia’s latest report card has deliveries as 7,895 units …

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WASHINGTON, D.C. — The National Multifamily Housing Council (NMHC) has filed a petition to appeal the Federal Communications Commission’s (FCC) Digital Discrimination Rule. The new rule includes property owners as a “covered entity,” which would hold housing providers liable under the FCC’s enforcement scheme if adequate broadband internet connectivity is not available to its renters. The rule is slated to go into effect on March 22, 2024. NMHC stated in a press release that while it supports the goal of ending digital discrimination, it feels the new rule is overly …

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930 on Broadway in Albany, New York

ALBANY, N.Y. — KeyBank Real Estate Capital (KBREC) has provided a $14.2 million fixed rate loan through Fannie Mae to refinance existing debt for 930 on Broadway, a workforce housing community in the Warehouse District of Albany.  Dirk Falardeau and Mark Flanders of KBREC Commercial Mortgage Group structured the financing. Redburn Development Partners was the borrower. 930 on Broadway comprises a four-story building housing 81 apartments, as well as 12,155 square feet of commercial space. The property is situated on a 1.5-acre site and offers 47 parking spaces. Redburn Development Partners …

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PORTLAND, ORE. — Northwest Housing Alternatives has opened Emmons Place, a 146-unit affordable housing community in the historic Alphabet District of Portland. Emmons Place is available to households earning at or below 60 and 30 percent of the area median income. Priority populations include communities of color, individuals with disabilities and seniors exiting homelessness who will receive Permanent Supportive Housing services through the Northwest Pilot Project, which connects low-income seniors to affordable housing. The Portland Housing Bureau allocated $19.7 million from the Portland Housing Bond to the project’s development.

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The Mill at Still River Apartments in Winsted, Connecticut

HARTFORD, CONN. — Chozick Realty Inc. has negotiated the sale of The Mill at Still River Apartments, a 39-unit community in the northwest Connecticut of Winsted. The Mill at Still River Apartments was originally constructed as a mill in 1887. The property was converted into apartments in 1986. Units feature exposed brick walls and beams. The asset traded hands for $4 million. Steve Pappas of Chozick Realty represented the buyer and seller in the transaction. Both parties were undisclosed.

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TideLock in Alexandria, Virginia

ALEXANDRIA, VA. — Kennedy Wilson has provided a $96 million senior construction loan for the development of TideLock, an office-to-multifamily redevelopment project in Alexandria. The project will redevelop three existing office buildings into a mixed-use complex. Marshall Scallan, Michael Zelin, Bindi Shah and Nick Rangel of Cushman & Wakefield negotiated the financing on behalf of the borrowers, Community Three and Whitaker Investment Corp. Plans for TideLock include 169 residential units, as well as 65 condominiums and 7,000 square feet of commercial space. Construction is slated to begin immediately and complete …

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Stanton Park Apartments in Atlanta

ATLANTA — Woda Coooper Cos. Inc. and Parallel Housing Inc. have delivered Stanton Park Apartments, a 56-unit affordable housing community in the Peoplestown neighborhood of Atlanta. Stanton Park offers 36 one-bedroom and 20 two-bedroom units, which are set aside for households earning 30 to 80 percent of the area median income. Ten units are reserved with project-based vouchers for tenants who experienced homelessness. The Fulton County Department of Behavioral Health and Developmental Disabilities has agreed to provide support service for the 10 voucher households for 10 years. Hooker DeJong designed the …

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HARTFORD, CONN. — Northeast Private Client Group has negotiated the sale of a portfolio of two buildings totaling 52 units in Hartford. Taylor Perun and Cameron Formica of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the deal. The portfolio includes a building at 17 Marshall Street that features 12 studios and 13 one-bedroom units, and a building at 50 Gillett Street that houses 16 one-bedrooms, eight two-bedrooms and three commercial spaces.

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