Author

Channing Hamilton

Haven on Long Grove in Naperville Township, Illinois
IllinoisInvestment SalesMidwestNews

Standard Real Estate Investments, The Vistria Group Acquire Haven on Long Grove in Chicago Suburb for $94 Million

by Channing Hamilton

NAPERVILLE TOWNSHIP, ILL. — Standard Real Estate Investments and The Vistria Group have purchased Haven on Long Grove, a 416-unit naturally occurring affordable housing community in the Chicago suburb of Naperville Township. The buyers acquired the property from Pensam Capital for $94 million. The acquisition includes the assumption of an existing, fixed-rate Fannie Mae mortgage serviced by M&T Bank. John Jaeger of CBRE brokered the off-market transaction. Situated on 34 acres, Haven on Long Grove comprises 248 apartment-units and 168 townhomes. Apartment units come in one- and two-bedroom floor plans. Units …

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DevelopmentNew HampshireNewsNortheast

North & South Construction Services Completes Signature on Elm in Manchester, New Hampshire

by Channing Hamilton

MANCHESTER, N.H. — North & South Construction Services has completed Signature on Elm, a 35-unit development in Manchester. The developer and general contractor developed the project in partnership with the Strafford Economic Development Corp. Signature on Elm offers studio, one- and two-bedroom units, as well as 8,000 square feet of retail space. Of the total unit count, 15 apartments are set aside as workforce housing. Income restrictions for these units were not disclosed. Rents for market-rate units start at $1,500 per month for a studio apartment.

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Harlow in Smyrna, Georgia
GeorgiaInvestment SalesNewsSoutheast

Cushman & Wakefield Arranges Sale of 303-Unit Harlow in Atlanta Suburb

by Channing Hamilton

SMYRNA, GA. — Cushman & Wakefield has negotiated the sale of Harlow, a recently-completed community in the Atlanta suburb of Smyrna. RA Capital Partners purchased the asset from South City Partners for an undisclosed price. Robert Stickel, Alex Brown, Ashlyn Warren, Michael Kay, and Sim Patrick of Cushman & Wakefield represented the seller in the deal. Harlow offers 303 units, as well as more than 6,000 square feet of amenity space. The property is situated nearby The Battery, a mixed-use entertainment district and home of the Atlanta Braves.

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Arbor Crossing in Boise, Idaho
IdahoInvestment SalesNewsWestern

Hamilton Zanze Sells 229-Unit Arbor Crossing in Boise, Idaho

by Channing Hamilton

BOISE, IDAHO — San Francisco-based investment firm Hamilton Zanze has sold Arbor Crossing, a 229-unit community in Boise. The sales price and buyer were not disclosed. Arbor Crossing was built in 1992 at 5122 W Stoker Lane. The property offers one-, two- and three-bedroom units with an average size of 930 square feet. Community amenities include a fitness center, business center, pool, daycare, playground, coffee and tea bar, detached garages, a sports court and a gazebo with a grilling area.

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Investment SalesNew JerseyNewsNortheast

Kislak Negotiates $6.9 Million Sale of Sheridan Gardens Apartments in Roselle, New Jersey

by Channing Hamilton

ROSELLE, N.J. — The Kislak Co. has arranged the $6.9 million sale of Sheridan Garden Apartments, a 35-unit complex in the New York City suburb of Roselle. Sheridan Garden Apartments was originally built in 1928. Joni Sweetwood of Kislak represented the seller, an entity doing business as Sheridan Estate Urban Renewal LLC, in the deal. Sweetwood also procured the buyer, Harrison Grove Holdings LLC.

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365 Bond Street in New York City
FinanceNew YorkNewsNortheast

Lightstone Secures $165.5 Million Agency Loan to Refinance 430-Unit Community in Brooklyn

by Channing Hamilton

NEW YORK CITY — Lightstone has received a $165.5 million Freddie Mac loan for the refinancing of a property at 365 Bond Street in Brooklyn’s Gowanus neighborhood. Peter Rotchford, Michael Shmuely, Nicco Lupo, Jeffrey Julien, Rob Hinckley, Steven Rutman, Jonathan Hageman and Hall Oster of JLL originated the five-year, fixed-rate loan. The community was built in 2016 and offers 430 apartment units, as well as 40,000 square feet of amenity space and 30,000 square feet of open green space. Units come in studio, one- and two-bedroom floor plans.

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Investment SalesNewsTexas

Pagewood Purchases 152-Unit Costa Mesa in Houston

by Channing Hamilton

HOUSTON — Pagewood has purchased Costa Mesa, a 152-unit community in Houston. Amegy Bank provided acquisition financing for the deal. The seller and sales price were not disclosed. Costa Mesa comprises 12 buildings that each rise two stories. Units come in one- and two-bedroom layouts and range in size from 614 to 1,044 square feet. Amenities include a pool, clubhouse, playground, business center and onsite laundry facilities.

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Hawaii Avenue Apartments in Washington, D.C.
Affordable HousingFinanceNewsNortheastWashington, D.C.

Red Oak Capital Provides $5.8 Million for Affordable Housing Community in Washington, D.C.

by Channing Hamilton

WASHINGTON, D.C. — Red Oak Capital Holdings has provided a $5.8 million bridge loan for Hawaii Avenue Apartments, an affordable housing community located in Washington, D.C.’s Brookland neighborhood. The interest-only loan features a 12-month term with two six-month extension options and an all-in interest rate of 11 percent. The financing was underwritten based on the property’s forecast stabilized value of $8 million. The borrower, an entity doing business as Legacy Lofts II & III, plans to use the funds to acquire and rehabilitate the property into 22 apartments that will …

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626 Newark Avenue in Jersey City, New Jersey
DevelopmentFinanceNew JerseyNewsNortheast

SCALE Lending Provides $243 Million for Two Buildings in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — SCALE Lending, the debt financing subsidiary of Slate Property Group, has provided two cross-collateralized loans totaling $243 million for two buildings in Jersey City’s Journal Square neighborhood. The borrower was Namdar Group. Drew Fletcher and Bryan Grover of Greystone Capital Advisors arranged the loans. Firstly, SCALE Lending issued a $160 million construction loan for a 27-story tower located at 626 Newark Avenue. The mixed-use development will offer 576 apartments, as well as 9,915 square feet of street-level retail and 17,747 square feet of office space. The project …

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Via Sol in St. Louis Park, Minnesota
Investment SalesMidwestMinnesotaNews

Marcus & Millichap Brokers Sale of 217-Unit Via Sol in St. Louis Park, Minnesota

by Channing Hamilton

ST. LOUIS PARK, MINN. — Marcus & Millichap has brokered the sale of Via Sol, a 217-unit property in St. Louis Park. Via Sol was built in 2022 and offers amenities such as an urban art forest, rooftop terrace, fitness center, and underground parking. Bigos-Via Sol LLC acquired the asset from Place E-Generation One LLC. Abe Roberts, head of the Roberts Group of Marcus & Millichap in Minneapolis, along with IPA’s Will Balthrope and Drew Garza, represented the seller in the deal. Will Tansey of the Felhaber Larson law firm …

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