KIRKWOOD, MO. — High Street Residential, the residential subsidiary of Trammell Crow Co., has begun leasing The James in the St. Louis suburb of Kirkwood. The James offers 152 apartments, as well as more than 7,000 square feet of ground-floor retail space. Units come in studio, one-, two- and three-bedroom layouts. Amenities include a pool, clubroom, private dining area, fitness center, indoor bike storage, work-from home center, pet wash and pet exercise area. The project is Trammell Crow Co.’s first multifamily project in the St. Louis market. Brinkmann Constructors is …
TORRANCE, CALIF. — CBRE has brokered the $4.8 million sale of an 11-unit community in the Los Angeles suburb of Torrance. CBRE’s Dan Blackwell and Trey Mitchell represented the locally-based private exchange buyer. The seller was headquartered in Los Angeles. Constructed in 1964, the asset sits on approximately 0.2 acres in the Old Town Torrance neighborhood. The property offers one-, two- and three-bedroom units. Amenities include an on-site laundry facility. Over the past two years, the building has been updated with new plumbing and drain lines, electrical, windows, exterior paint and repairs, …
NASHVILLE, TENN. — JLL Capital Markets has arranged the $101.2 million refinancing for Kenect Nashville, a 420-unit high-rise community in Nashville’s Midtown neighborhood. The borrower, Akara Partners, secured the loan through MF1. Jesse Wright, Kenny Cutler, Brian Dawson, Joshua Odessky and J.J. Hovenden led the JLL Capital Markets Debt Advisory team. Sitiated at 800 19th Ave. South, Kenect Nashville is located in proximity to Vanderbilt University, Belmont University and Nashville’s Music Row historic district, which is considered the heart of the city’s entertainment industry. According to Apartments.com, the property was built …
There is one U.S. county that has largely outpaced all the rest before, during and after COVID-19. It’s Maricopa County, which includes the Phoenix metropolitan statistical area (MSA). The county was home to about 4.2 million residents in 2012. Today, that number stands at more than 5 million, per the U.S. Census Bureau. Prior to COVID-19, much of that migration was tied to job growth, notes Christian Garner, president and CEO of Avanti Residential. “Phoenix over the past 10 years has greatly diversified through industries like education, medical and technology,” …
LANCASTER, TEXAS — Trion Properties has acquired Riverbend Apartments, a 471-unit complex in the southern Dallas suburb of Lancaster. Riverbend Apartments features 181 one-bedroom units and 290 two-bedroom units. Amenities include three pools and multiple play areas for children. The seller and sales price were not disclosed. Trion Properties plans to implement a value-add program for the community.
DURHAM, N.C. — Camden Property Trust has opened Camden Durham, a 420-unit community located at 441 Dillard St. in downtown Durham. The complex offers one-, two- and three-bedroom apartments, as well as 14 one- and two-bedroom townhome-style units. Amenities include a pool, 24-hour athletic club, resident lounge and community workspace, barbecue grills and a lawn for gatherings. The property also features 5,945 square feet of ground-floor retail space, which is currently available for lease.
MIAMI — Miami-Dade County, in partnership with locally-based developer Related Group, has opened Robert King High and Paseo del Rio, two affordable housing communities in Miami’s Little Havana neighborhood. The two properties serve as the fourth and fifth phases of the River Parc master plan, a $1 billion mixed-income redevelopment project. At full build-out, River Parc will offer 2,500 affordable, workforce and market-rate apartment units. Residents will have access to the Robert King High Community Center, a one-story clubhouse adjacent to Robert King High, as well as 15,000 square feet of commercial …
SCHERTZ, TEXAS — A partnership between the Schertz Housing Authority and The NRP Group have broken ground on Aviator 1518, a 300-unit affordable housing development in Schertz. The project is financed through four percent housing tax credits allocated by the Texas Department of Housing and Community Affairs. Additional development partners include Bank of America, Bexar County, Texas Home Collaborative, Coats Rose, MTR Engineering and Alta Architects. Aviator 1518 will offer units in one-, two-, three- and four-bedroom floor plans. Units in the complex’s three-story central building are built with elevator-accessible …
WAXAHACHIE, TEXAS — Texas-based owner-operator Wan Bridge has completed Sonata Estates, a 127-unit build-to-rent project in the Dallas suburb of Waxahachie. The community offers three- and four-bedroom townhome residences. Units range in size from 1,612 to 1,854 square feet. Rents start at $2,250 per month. Amenities include a pool and splash pad, playground, outdoor sports courts, picnic areas and baseball fields. Residents also have access to onsite maintenance services and a walking path that connects to a nearby park.
ROCKFORD, ILL. — PACE Equity has provided $10.9 million in Commercial Property Assessed Clean Energy (C-PACE) financing for a 215-unit industrial-to-multifamily conversion project in Rockford. The complex consists of two buildings that previously served as industrial space. The C-PACE financing will help fund energy-efficient improvements to the property’s HVAC system, LED lighting, windows, walls, roof and water conservation. The Illinois Energy Conservation Authority, an Illinois tax-exempt 501(c)(3) nonprofit organization, worked to close the financing with PACE Equity.