Author

Channing Hamilton

Las Misiones Apartments in Mission, Texas
Investment SalesNewsTexas

Northmarq Brokers Sale of 118-Unit Las Misiones Apartments in Mission, Texas

by Channing Hamilton

MISSION, TEXAS — Northmarq has brokered the sale of Las Misiones Apartments, a 118-unit complex in the Rio Grande Valley city of Mission. McGuire Family Properties purchased the asset from a pair of private investors for an undisclosed price. Zar Haro, Moses Siller, Phil Grafe, Bryan VanCura and Brian Booth of Northmarq brokered the deal. Las Misiones Apartments was built in 2005. The property offers one-, two- and three-bedroom units. Amenities include a pool, fitness center, business center, playground, clubhouse, basketball court and a lounge.

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Crestview Apartments in Costa Mesa, California
CaliforniaInvestment SalesNewsWestern

CBRE Brokers $5 Million Sale of Crestview Apartments in Costa Mesa, California

by Channing Hamilton

COSTA MESA, CALIF. — CBRE has arranged the sale of Crestview Apartments, a 19-unit property in Costa Mesa. Crestview Apartments was built in 1957 on 0.5 acres. Dan Blackwell and Mike O’Neill represented the seller in the deal. Blackwell and O’Neill, along with Jack O’Connor, also represented the buyer. Both parties were Orange County-based private investors. Crestview Apartments rises two stories and comprises one 8,931-square-foot building. The value-add property includes in-place RUBS (Ratio Utility Billing System), where tenants pay for water and trash, in addition to being individually metered for …

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Brookside in Arlington, Texas
Investment SalesNewsTexas

Marcus & Millichap Brokers Sale of 288-Unit Brookside in Arlington, Texas

by Channing Hamilton

ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Brookside, a 288-unit asset in Arlington. Reap Capital acquired the property, which comprises 22 buildings, for an undisclosed price. Marcus & Millichap’s Racht, Nick Fluellen, Bard Hoover and Chris Pearson represented the seller in the deal. Amenities at Brookside include a pool, fitness center and three outdoor grilling stations. Apartments feature stainless-steel appliances, fireplaces, reserved parking, covered parking and walk-in closets.

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The Grove at La Frontera in Arlington, Texas
DevelopmentFinanceNewsTexas

JLL Capital Markets Arranges Construction Financing for The Grove at La Frontera Near Dallas

by Channing Hamilton

ARLINGTON, TEXAS — JLL Capital Markets has arranged a loan to facilitate the construction of The Grove at La Frontera, a 396-unit project in the Dallas suburb of Arlington. John Brownlee, Bo Beidleman and Chad Lisbeth of JLL worked on behalf of the borrower, Zale Properties, to secure the four-year, fixed-rate loan through Principal Asset Management. The Grove at La Frontera will include 336 apartment units, 60 single-family rental units and 10,000 square feet of ground-floor retail. Amenities include two pools, a fitness center, pickleball courts, a dog park and pet …

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FinanceNewsNorth CarolinaSoutheast

NewPoint Provides $45 Million to Refinance 300-Unit Community in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — NewPoint Real Estate Capital has provided a $45 million lease-up bridge loan to refinance a recently completed 300-unit community in Charlotte. Mike Ortlip of NewPoint originated the floating-rate, interest-only bridge loan, which features a two-year initial term. The borrower is an undisclosed North Carolina-based development firm. The property offers a mix of one-, two- and three-bedroom apartments. Amenities include a pool, grilling pavilion, fitness center with a yoga and spinning room, a billiards room and a dog park.

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Grove Central in Miami
DevelopmentFloridaNewsSoutheast

Terra, Grass River Property Finish Constructing Grove Central Mixed-Use Development in Miami

by Channing Hamilton

MIAMI — Terra and Grass River Property have completed the construction of Grove Central, a mixed-use development in Miami’s Coconut Grove neighborhood. The project is a public-private partnership between the two Miami-based developers and Miami-Dade County, which owns the land. The project’s design team includes Miami-based Touzet Studio, RSP Architects and Walter Meyer of New York’s Local Office Landscape Architecture. Grove Central comprises a 23-story residential tower, as well as a 1,250-space public parking garage and 170,000 square feet of retail space. The residential tower offers 402 units in layouts …

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Adam Wolfson, CEO, Wolfson Development Co.
Build-to-RentFinanceFloridaIndustry VoicesOperationsSoutheast

Economic Forces Brew a Perfect Storm for Build-to-Rent

by Channing Hamilton

— By Adam Wolfson and Darryl Kasper of Wolfson Development Co. — Against a backdrop of recently proposed (though unlikely to pass) legislation aimed at forcing large build-to-rent (BTR) and single-family-rental investors to shed units and convert them to for-sale housing, BTR fundamentals — and the investment case for the sector — remain strong as ever. While debatably well-intentioned, the legislation mistakes correlation for causation. The BTR sector is indeed benefitting from problems in the housing market. However, these problems pre-dated the industry and are more likely caused by factors …

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Lorenzo Apartments in San Antonio
Investment SalesNewsTexas

The Multifamily Group Arranges Sale of 72-Unit Lorenzo Apartments in San Antonio

by Channing Hamilton

SAN ANTONIO — The Multifamily Group (TMG), a Dallas-based commercial real estate brokerage firm, has arranged the sale of Lorenzo Apartments in San Antonio. TMG’s Jon Krebbs represented the seller, while Christopher Siemasko procured the buyer. Neither party was disclosed. Lorenzo Apartments was built in 1960. The property comprises 72 units in one- and two-bedroom layouts. Amenities include a laundry facility, bark park and 24-hour courtesy patrol.

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90 Avenue E in Bayonne, New Jersey
Investment SalesNew JerseyNewsNortheast

CBRE Arranges $6.1 Million Sale of 70-Unit Community in Bayonne, New Jersey

by Channing Hamilton

BAYONNE, N.J. — CBRE has arranged the $6.1 million sale of a 70-unit property at 90 Avenue E in Bayonne, a city that is located on a peninsula between Newark Bay and New York Bay. The project is currently under development and is fully approved with a 20-year PILOT. EOM sold the site to a private developer based in Hudson County. CBRE’s Fahri Ozturk, Richard Gatto and Zach McHale marketed the site and represented EOM in the deal. Hudson Realty represented the buyer. 

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Arris Grand in New York City
FinanceNew YorkNewsNortheast

SCALE Lending Provides $46 Million Bridge Loan for 113-Unit Arris Grand in Brooklyn

by Channing Hamilton

NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has arranged a $46 million bridge loan for Arris Grand, a nine-story apartment building in Brooklyn’s Clinton Hill neighborhood. The borrower will use the financing to pay off the existing construction loan and support the lease-up of the community. Arris Grand comprises 113 units in studio, one- and two-bedroom layouts. The property offers 10,000 square feet of amenities — including a fitness center, roof deck, terrace, and lounges — as well as 7,154 square feet of street-level …

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