DENTON, TEXAS — Colliers Mortgage has provided a $41.8 million HUD-insured loan for the refinancing of Village at Rayzor Ranch, a 300-unit property located in the northern Dallas suburb of Denton. Fritz Waldvogel of Colliers Mortgage originated the loan through a partnership with Old Capital Lending on behalf of the undisclosed borrower. Village at Rayzor Ranch offers studio, one- and two-bedroom units. Amenities include a pool, outdoor grilling and dining stations, a dog park, fitness center, sports court, coworking space, coffee bar, lounge, fitness center and package handling services.
HUNTSVILLE, ALA. — A joint venture between Essex Capital and Ascend Property Group has broken ground on Front Row, an 11-acre, mixed-use project in downtown Huntsville. The $220 million first phase of Front Row is currently underway, following recent news that Banco Inbursa and a group led by Keel Point and Opportunity Alabama provided $115 million in construction financing. The first retail space is slated to deliver in late 2025, followed by apartments and office space in early 2026. At full build-out, the first phase of Front Row will comprise …
DES MOINES, IOWA — ARTISAN Capital Group (ACG) and Eastham Capital have partnered to acquire Wakonda Village, a 382-unit community in Des Moines. The property is located on the city’s south side, adjacent to the Wakonda Country Club and one block from the Fleur Drive retail corridor. Amenities include a pool, fitness center and dog park. The buyers plan to renovate the property with updates to apartment interiors, parking lots, sidewalks, landscaping and hallway paint and carpets. Pickleball courts and grill stations will also be added to the amenity package. …
KANSAS CITY, MO. — Cushman & Wakefield has hired Whittaker Potts as an executive managing director with the firm’s Sunbelt Multifamily Advisory Group. Potts will work alongside advisors Martin Bynum, Cole Herget, Matt Stephens and Stephen Pestinger to cover multifamily investment sales in Arkansas, Missouri, Southern Illinois, Kansas and Oklahoma. He will be based in the firm’s Kansas City office. Potts received a bachelor of arts in communication studies from the University of Kansas and currently holds a real estate license in both Kansas and Missouri.
MIAMI — Development partners Terra and New Valley have secured $127 million in permanent financing for Natura Gardens, a 460-unit complex in the West Hialeah neighborhood of Miami. Keith Kurland, Aaron Appel, Jon Schwartz, Adam Schwartz and Michael Diaz of Walker & Dunlop’s New York Capital Markets team arranged the financing. The funds will be used to pay off and refinance an existing $65 million construction loan, which Bank OZK provided in 2021. Natura Gardens was completed in the summer of 2023. Situated on a 23-acre site, the garden-style community …
YONKERS, N.Y. — A subsidiary of Azorim Construction Co. Ltd. will develop Miroza Tower, a $133.5 million high-rise asset in the New York City suburb of Yonkers. The Yonkers Industrial Development Agency recently granted final approval of financial incentives for the project. Azorim Construction Co. is receiving a sales tax exemption of $5.8 million, a mortgage recording tax exemption of $1.3 million and a 20-year payment in lieu of taxes agreement valued at $12.4 million. Situated at 44 Hudson St., Miroza Tower will offer 250 apartment units across 27 stories. …
CLEVELAND, OHIO — Cleveland-based KeyBank Real Estate Capital has promoted Dan Heberle to the role of president. Heberle will oversee KeyBank Real Estate Capital’s real estate finance and community development and investment businesses. He will report to Randy Paine, President of Key Institutional Bank. Heberle joined KeyBank in 1998 as a relationship manager with KeyBank’s REIT Group. He most recently served as the head of KeyBank’s Institutional Capital Group. Heberle received a bachelor’s degree in finance from The Pennsylvania State University. He also studied economics, money and banking at the …
WEST DES MOINES, IOWA — A partnership consisting of ARTISAN Capital Group (ACG) and Eastham Capital have acquired Cambridge Court Apartments, a 192-unit property in West Des Moines. Cambridge Court Apartments was built in 1992 and offers one, two and three-bedroom units. Amenities include a clubhouse, fitness center, dog park, garages and indoor/outdoor pools. The buyers plan to renovate the complex. Exact plans for the renovation, however, were not disclosed. ARTISAN Management Group, ACG’s management vertical, will oversee operations at the property.
LAWRENCEVILLE, GA. — A joint venture consisting of ECI Group and The Griffin Fund have broken ground on The Averly Collins Hill, a $76 million development in the northeast Atlanta suburb of Lawrenceville. The project comprises 300 units across eight buildings on a 22-acre site. Units will come in one-, two- and three-bedroom layouts. Amenities include a clubhouse, fitness center, lounge areas, coworking space, pool, dog play area and coffee bar. ECI Construction is the general contractor for the project. Synovus Bank provided $46 million in construction financing.
INGLEWOOD, CALIF. — JPI has broken ground on Jefferson Inglewood, a 222-unit development in the Los Angeles suburb of Inglewood. The community will rise eight stories and offer studio, one- and two-bedroom floor plans. The project utilizes the City of Inglewood’s Transit Oriented Development plan and design guidelines. TCA Architects was the architect. Englekirk Engineering provided structural engineering services. Kimley Horn Associates Engineering provided civil engineering. First occupancies at the property are slated for early 2026.