BOLTON, MASS. — Atlanta-based developer Wood Partners has broken ground on Alta Nashoba Valley, a 229-unit project in Bolton, roughly 45 miles west of Boston. Alta Nashoba Valley will feature a mix of one-, two- and three-bedroom units spread across four three-story buildings. Shared amenities will include a clubroom, workspaces, fitness center, private bar and dining area, dog park, playground, electrical vehicle chargers, a pet spa, pool and firepits and grilling areas. Twenty-five percent of units will be set aside as affordable housing, but income restrictions were not disclosed. The …
HOLLYWOOD, FLA. — Marcus & Millichap has arranged the sale of Executive Rental Apartments, a 44-unit property in Hollywood, 20 miles north of Miami. The three-story building was built at 1715 North 16th Ave. in 1969. The community features an elevator, three laundry rooms and a pool. The unit mix includes one- and two-bedroom floor plans. Joseph Thomas, Alec Demetriou and Adam Marcuvitz of Marcus & Millichap’s Fort Lauderdale office marketed the property on behalf of the seller and procured the buyer.
OMAHA, NEB. — A joint venture between Eastham Capital and Bender Cos. has acquired The Colonial, a 258-unit community in Omaha. Eastham obtained a majority ownership in the deal through its current fund, Eastham Capital Fund VI LP. Bender, which has co-invested and partnered with Eastham on the project, will oversee the day-to-day management. Parker Stewart and Alex Malzone of Northmarq brokered the deal. The Colonial was built in 1967 and is currently 95 percent occupied. The average unit size is 902 square feet. Amenities include an outdoor pool, community …
FORNEY, TEXAS — A partnership between two California-based firms, developer Legacy Partners and investment manager Resmark Cos., has begun leasing Rylan at Gateway, a 336-unit community in Forney, about 22 miles east of Dallas. Rylan at Gateway consists of five three-story buildings on a 14-acre site. Apartments come in studio, one- and two-bedroom floor plans and range in size from 540 to 1,360 square feet. Amenities include a pool, outdoor kitchen and gaming courtyard, fitness center, coworking lounge, coffee bar and two dog parks. Monthly rates start at under $1,000 …
VALDOSTA, GA. — Marcus & Millichap has arranged the $18.3 million sale of 805 Harmon Heights Apartments & Condos, a 100-unit asset in the southern Georgia city of Valdosta. John Brigel of Marcus & Millichap’s Tampa office marketed the asset on behalf of the seller, Bobby Diaz, builder and operator of Diaz Construction LLC, and procured the undisclosed buyer from Tennessee. John Leonard is Marcus & Millichap’s broker of record in Georgia. Located at 805 Harmon Drive, the property consists of 113,600 square feet across nine buildings. Units come in …
WEST DES MOINES, IOWA — Greysteel has negotiated the $38 million sale of Polo Club Apartments in West Des Moines. Built in 1998, the community consists of 277 two-bedroom units. BJ Connolly, Zach Schneider and Ryan Carter of Greysteel represented the seller, Polo Club LLC/Premier Cos, in the deal. The undisclosed buyer represented itself and plans to conduct a full renovation of the property.
NEW YORK CITY — A partnership between locally based developer Slate Property Group and RiseBoro Community Partnership has begun leasing Baisley Pond Park Residences, a 318-unit affordable housing redevelopment project in Queens. The property is a conversion of the 350-room JFK Hilton Hotel, which was originally built in 1987. Situated in the Jamaica neighborhood of Queens, the complex offers studio, one- and two-bedroom units. Amenities include a fitness center, computer lounge and multiple common rooms. Monthly rents range from $784 for a studio to $1,493 for a two-bedroom apartment. As …
DALLAS — Knightvest Capital, a Dallas-based investment company, has appointed Madison Tappan to the position of chief investment officer. In his new role, he will oversee Knightvest’s acquisition strategy and lead efforts to expand the firm’s multifamily portfolio across various Sun Belt markets. Tappan will also deploy capital from Knightvest’s second investment fund, with a focus on acquiring 2000s-era properties and renovating them. Most recently, Tappan served as a managing director of acquisitions at Knightvest, focusing on investment opportunities in the Dallas-Fort Worth area. He previously served as a vice president …
SANTA CLARITA, CALIF. — G.H. Palmer Associates has received a $168 million loan to refinance Park Sierra, a 776-unit apartment building in Santa Clarita, approximately 35 miles northwest of Los Angeles. Walker & Dunlop’s California multifamily finance team, led by Trevor Fase, arranged the financing through Freddie Mac. Originally developed by G.H. Palmer Associates in 1987, the garden-style community offers a mix of 97 one-bedroom and 679 two-bedroom apartments. About 40 percent of the units have been rehabilitated, with additional capital investment planned. Amenities include five pools and spas, a …
WASHINGTON, D.C. — Economic uncertainty has continued to be a primary concern for multifamily construction and development firms. More than half say current and future projects have experienced construction delays, according to the National Multifamily Housing Council’s (NMHC) Quarterly Survey of Construction & Development Activity. Fifty-eight percent of respondents stated they had experienced construction delays between January and March in the jurisdictions in which they operate. The most frequently cited causes for delays were economic uncertainty (68 percent) and economic feasibility (68 percent); followed by permitting, entitlement and professional services (58 percent); availability of construction …