Author

Channing Hamilton

Bear Valley Park Apartments in Denver
ColoradoInvestment SalesNewsWestern

MG Properties Acquires Bear Valley Park Apartments in Denver for $76 Million

by Channing Hamilton

DENVER — MG Properties has purchased Bear Valley Park Apartments, a garden-style community in Denver, from Jackson Square Properties for $76 million. Bear Valley Park Apartments offers units in one- and two-bedroom layouts. Amenities include a pool, fire pit, package lockers, private parking lot with available garages, resident lounge, fitness center and spa. Jordan Robbins and Alex Possick of JLL Capital Markets represented the seller in the deal. Charles Halladay, Rick Salinas, Brandon Smith and Annie Rice of JLL Capital Markets arranged acquisition financing through Fannie Mae on behalf of …

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Affordable HousingDevelopmentFinanceGeorgiaNewsSoutheast

Stryant Investments to Redevelop Historic Atlanta Motel into 54-Unit Affordable Housing Community

by Channing Hamilton

ATLANTA — Stryant Investments has broken ground on Ralph David House, an adaptive-reuse development that converts a former motel in Atlanta’s Reynoldstown neighborhood into 54 units of permanent supportive housing. The community will be affordable to households earning at or below 30 percent of the area median income. Rents and utility costs combined will also be capped at 30 percent of each tenant’s income. The complex is slated to open in the fall of 2024.  Atlanta Beltline Inc. invested $550,000 into the project through the BeltLine’s TAD Increment Fund, which …

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1910 NW 29th Street in Miami
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Negotiates $2.8 Million Sale of Two Properties in Miami

by Channing Hamilton

MIAMI — Marcus & Millichap has brokered the sale of two properties located at 1910 and 1920 NW 29th Street in Miami’s Allapattah neighborhood. The buildings comprise 8,840 square feet and 16 units altogether. Units come in studio, one- and two-bedroom floor plans. 7 Crowns LLC purchased the properties from a local LLC for $2.8 million. Nicholas McAndrew, Felipe Echarte and Evan Kristol of Marcus & Millichap’s Fort Lauderdale office marketed the property on behalf of the seller and procured the buyer.

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Parkside on Dresden in Brookhaven, Ga.
DevelopmentFeaturesGeorgiaOperationsSoutheast

New Multifamily Starts to Slow to a Crawl in 2024, Say InterFace Panelists

by Channing Hamilton

ATLANTA — Multifamily developers are bracing for the uncertainty of 2024 as their projects are delivering into a landscape where new supply is outpacing demand by a significant margin. In the third quarter, a total of 114,000 new multifamily units were delivered compared to 82,100 absorbed, according to research from CBRE. The absorption figure is technically rebounding as it represents the highest quarterly figure since early 2022, but there is still a sizeable delta compared to supply growth. The trailing four-quarter total for multifamily deliveries stands at 376,500 units, which …

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The Valencia Apartments in Phoenix
ArizonaFinanceNewsWestern

JLL Capital Markets Arranges $10.7 Million to Refinance The Valencia Apartments in Phoenix

by Channing Hamilton

PHOENIX — JLL Capital Markets has arranged a $10.7 million loan to refinance of The Valencia Apartments, a garden-style community in Phoenix. The borrower was CALCAP Advisors. Built in 1983, The Valencia Apartments offers 127 units across two stories. The property was recently renovated with updates to unit fixtures, hardware, exteriors and common areas. Amenities include two pools, a sundeck and covered parking. JLL worked on behalf of the borrower to secure the fixed-rate, five-year Fannie Mae loan. Brad Miner, Elle Miraglia and Frank Choumas led the JLL Capital Markets Debt …

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Audubon Estates in Alexandria, Virginia
FinanceNewsSoutheastVirginia

JLL Negotiates Refinancing for 700-Site Manufactured Housing Community in Alexandria, Virginia

by Channing Hamilton

ALEXANDRIA, VA. — JLL Capital Markets has arranged the refinancing for Audubon Estates, a 700-site manufactured housing community in the Washington, D.C. suburb of Alexandria. JLL worked on behalf of the borrower, Hometown America, to secure the seven-year, fixed-rate loan through Freddie Mac. Zach Koucos, Chris Collins and Bharat Madan led the JLL Capital Markets Debt Advisory team. JLL Real Estate Capital, a Freddie Mac Optigo lender, will service the financing. Audubon Estates was built in 1972 at 7930 Audubon Ave. According to JLL, the property was 100 percent occupied at the time …

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Investment SalesNewsTexas

Matthews Real Estate Investment Services Brokers Sale of Marsol Apartments in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — Matthews Real Estate Investment Services has negotiated the sale of Marsol Apartments, a 22-unit complex located just northwest of Austin’s downtown area. The property was originally constructed in 1972 and was recently renovated. Richard Waterhouse and Tyler Marshall of Matthews Real Estate Investment Services represented the seller in the deal. Neither the seller nor buyer were disclosed.

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ArizonaDevelopmentNewsWestern

Capital Square, Sunstone Two Tree Begin Constructing $49 Million Build-to-Rent Complex Near Phoenix

by Channing Hamilton

GLENDALE, ARIZ. — Capital Square and Sunstone Two Tree have broken ground on Ironwood Homes at Rosefield, a new build-for-rent community in the Phoenix suburb of Glendale. The 320-unit complex will be situated on a 29-acre lot at the southeast corner of Northern Parkway and N. Sarival Avenue. The partnership acquired the lot in September. Capital Square Glendale BFR is currently raising $49 million in equity from accredited investors for the complex’s development. Ironwood Homes at Rosefield will offer 102 detached single-family homes, as well as 218 townhomes. Units will …

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Fannwood Estates in New York City
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Brokers $48 Million Sale of Fannwood Estates in New York City

by Channing Hamilton

NEW YORK CITY — Marcus & Millichap has arranged the sale of Fannwood Estates, a rent-stabilized property located in the Rego Park neighborhood of Queens in New York City. Fannwood Estates offers 312 units across six stories. The asset traded hands for $48 million. Shaun Riney, Seth Glasser, Joe Koicim, Louis Zarif and Sean Fopeano of Marcus & Millichap represented the seller and procured the buyer. Both parties were private investors.

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39 High Street in Jersey City, New Jersey
Investment SalesNew JerseyNewsNortheast

JLL Capital Markets Brokers $18.6 Million Refinancing for 39 High Street in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — JLL Capital Markets has arranged a $18.6 million loan to refinance 39 High Street, an 83-unit property in the Journal Square neighborhood of Jersey City. Recently built in 2023, 39 High Street rises six stories and offers studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, children’s playroom, lounge and a rooftop terrace. Matthew Pizzolato, Max Custer and John Cumming of JLL represented the borrower, a partnership between Spitzer Enterprises and Titanium Realty Group, to secure the fixed-rate loan through a correspondent life …

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