Author

Channing Hamilton

Marina Square in Bremerton, Washington
FinanceNewsWashingtonWestern

JLL Arranges $79 Million Refinancing for Marina Square in Bremerton, Washington

by Channing Hamilton

BREMERTON, WASH. — JLL Capital Markets has brokered $79 million to refinance Marina Square, a 270-unit community in Bremerton, 16 miles across the Puget Sound from Seattle. JLL worked on behalf of the borrower, Sound West Group, to secure the five-year, floating-rate loan through TPG Real Estate Credit. Seth Heikkila, Tom Wilson and Steve Petrie led the JLL Capital Markets Debt Advisory team. Marina Square offers studio, one- and two-bedroom units. Amenities include a roof deck with water views, a clubroom with indoor and outdoor space, public plaza, kayak launch …

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Investment SalesMassachusettsNewsNortheast

Marcus & Millichap Brokers $16.5 Million Sale of Rose Garden Apartments Near Boston

by Channing Hamilton

FRAMINGHAM, MASS. — Marcus & Millichap has arranged the $16.5 million sale of Rose Garden Apartments, a 72-unit community in the western Boston suburb of Framingham. Evan Griffith, Tony Pepdjonovic and Jeremy Buckley of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity. Rose Garden Apartments rises three stories. The building offers studio, one- and two-bedroom units, 21 of which were recently renovated.

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Affordable HousingDevelopmentNewsTexas

NRP Group Completes 368-Unit Station42 in Killeen, Texas

by Channing Hamilton

KILLEEN, TEXAS — The NRP Group has finished constructing Station42, a 368-unit mixed-income community in the central Texas city of Killeen. Station42 offers units in one-, two- and three-bedroom layouts. More than half of the total unit count is reserved for households earning 80 percent or less of the area median income. Amenities include a pool, clubroom, fitness center, gaming area, communal kitchen, coworking lounge, dog park, outdoor dining and entertainment areas and package handling services. Partners on the project included The City of Killeen Public Facility Corp., J.P. Morgan …

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ColoradoInvestment SalesNewsWestern

Harbor Group International Acquires Two-Property Portfolio in Colorado for $132.5 Million 

by Channing Hamilton

DENVER AND CASTLE ROCK, COLO. — Affiliates of Harbor Group International has acquired a portfolio in Colorado for $132.5 million. The portfolio consists of two recently-constructed properties, Ladora Modern and Prospector Modern. Both communities were completed in December 2023 and offer amenities such as pools, fitness centers, and dog parks. Ladora Modern is a 196-unit community in Denver. Units come in two- and three-bedroom floor plans and average 1,000 square feet in size. The property was 85 percent occupied at the time of sale. Prospector Modern is a 238-unit property …

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The Everstead at Conroe in Conroe, Texas
Build-to-RentDevelopmentNewsTexas

Landmark Properties Breaks Ground on 190-Unit Build-to-Rent Community Near Houston

by Channing Hamilton

CONROE, TEXAS — Landmark Properties has begun constructing The Everstead at Conroe, a 190-unit build-to-rent development in the northern Houston suburb of Conroe. Landmark Properties will develop the project together with its joint venture partner, Open House Group Co. Landmark Construction is the general contractor. The Everstead at Conroe is situated on a 23.5-acre site. The community will offer a mix of 56 two-bedroom and 134 three-bedroom ranch homes and townhomes. Amenities will include a pool, dog park, playground, pickleball and bocce courts, 567 parking spaces and a 2,817-square-foot clubhouse …

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FinanceNewsTexas

JLL Capital Markets Arranges $175 Million to Refinance Three-Property Portfolio

by Channing Hamilton

DALLAS — JLL Capital Markets has arranged the $175 million facility refinancing for a three-property, 882-unit portfolio. The borrower was an investment vehicle sponsored by Willow Bridge Property Co., a full service residential property company headquartered in Dallas. Andy Scott, Michael Cosby, Bo Beidleman and Ryan Pollack of JLL arranged the loan through Fannie Mae and closed on the five-year, fixed-rate initial tranche. The financing will be used to seed a larger programmatic financing vehicle, allowing for flexibility in future transactions.

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Investment SalesNewsTexas

Colliers Arranges Sale of 152-Unit Oak Bend Place Near Houston

by Channing Hamilton

TOMBALL, TEXAS — Colliers has arranged the sale of Oak Bend Place, a 152-unit complex in the northern Houston suburb of Tomball. Chip Nash, Bob Heard, Kitty Wallace and Jaleel Adatia of Colliers represented the seller, Alphil Investments, in the deal. The buyer was not disclosed. Oak Bend Place was originally built in 1984. According to Apartments.com, the property offers two-bedroom apartments, as well as amenities such as a pool, pet play area and outdoor grilling and dining stations. 

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Affordable HousingCaliforniaDevelopmentFinanceLouisianaNewsSoutheastWestern

American South Fund Management Closes $174 Million Affordable Housing Fund

by Channing Hamilton

LOS ANGELES AND SHREVEPORT, LA. — American South Fund Management (ASFM), a joint venture between SDS Capital Group and Vintage Realty, has closed its second real estate fund with $174 million in equity commitments. SDS Capital Group is a Los Angeles-based impact fund manager. Vintage Realty is a property developer and manager that is headquartered in Shreveport, Louisiana. ASFM’s fund will provide preferred equity and equity financing for affordable housing projects in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas. The fund includes a $50 …

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The Vale in Allendale, New Jersey
DevelopmentLeasing & MarketingNew JerseyNewsNortheast

The Hampshire Cos. Opens 70-Unit The Vale in Allendale, New Jersey

by Channing Hamilton

ALLENDALE, N.J. — The Hampshire Cos. has opened The Vale, a 70-unit community located at 220 W. Crescent Avenue in the northern New Jersey borough of Allendale. The Vale was designed by DMR Architects. The community offers one- and two-bedroom apartments with features such as quartz countertops, mosaic tile backsplashes, custom cabinetry, stainless steel appliances and plank flooring. Amenities include a clubroom, lounge, fitness center and a 9,460-square-foot outdoor courtyard.

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Riverwalk in Elmwood Park, New Jersey
DevelopmentFinanceNew JerseyNewsNortheast

JLL Arranges $49 Million to Develop Phase Two of Riverwalk in Elmwood Park, New Jersey

by Channing Hamilton

ELMWOOD PARK, N.J. — JLL Capital Markets has negotiated the $49 million capitalization for the second phase of Riverwalk, a four-phase master-planned development in Elmwood Park. Phase two of Riverwalk will comprise 150 units across two buildings, and is slated to deliver in the fourth quarter of 2024. At full build-out, the community will offer amenities such as a fitness center, outdoor pool deck, lounge and a business center. The property will also feature 15,000 square feet of retail space.  JLL represented the borrower, Riverwalk, to secure the $32 million …

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