Author

Channing Hamilton

JLL Capital Markets Brokers Sale of 141-Unit The Perch PDX in Portland

by Channing Hamilton October 30, 2023

PORTLAND — JLL Capital Markets has negotiated the sale of The Perch PDX, a 141-unit complex in the northern Portland neighborhood of Overlook. JLL represented the seller, Fairfield, and procured the buyer, Green Leaf Capital Partners. Ira Virden, Carrie Kahn and Frank Solorzano led the JLL Capital Markets Investment Sales and Advisory team. The Perch PDX was built in 2020 at 5325 N. Interstate Ave. The property features studio, one- and two-bedroom units with an average size of 648 square feet. Units feature stainless steel appliances, quartz countertops, vinyl plank flooring …

October 30, 2023

Investment Sales News Texas

Marcus & Millichap Brokers Sale of 236-Unit Luna Vista in Fort Worth, Texas

by Channing Hamilton October 30, 2023

FORT WORTH, TEXAS — Marcus & Millichap has negotiated the sale of Luna Vista, a 236-unit complex in Fort Worth. Al Silva and Ford Braly of Marcus & Millichap represented the seller and procured the buyer in the deal. Both parties were locally based investment groups that requested anonymity. The 32-building property was built in 1979 at the intersection of I-30 and Loop 820 on the city’s east side. The new owner plans to implement a value-add program.

October 30, 2023

11821 Stuart Drive in Garden Grove, California

California Investment Sales News Western

CBRE Arranges $2.9 Million Sale of 10-Unit Community in Garden Grove, California

by Channing Hamilton October 30, 2023

GARDEN GROVE, CALIF. — CBRE has negotiated the $2.9 million sale of a 10-unit property in Garden Grove. The building was constructed in 1958 on a 0.3-acre lot at 11821 Stuart Drive. The unit mix consists of three one-bedroom and seven two-bedroom units across two stories. Amenities include a pool, on-site laundry facilities and garage parking. The community was recently renovated with new exterior paint, a new sprinkler system, updated gas lines and new garage doors. CBRE’s Dan Blackwell and Andrew Boukather represented the seller and buyer, both private investors …

October 30, 2023

Arkansas Development Finance News Southeast

CBRE Negotiates Construction Financing for Mixed-Use Development in Rogers, Arkansas

by Channing Hamilton October 30, 2023

ROGERS, ARK. — CBRE has arranged financing for the development of Pinnacle Springs, a mixed-use development located at 1800 S. Osage Springs Drive in Rogers. Pinnacle Springs will comprise 362 apartments and 91,000 square feet of retail space, including a 37,000-square-foot Whole Foods Market grocery store. SJC Ventures plans to break ground on the project before the end of the year. The developer plans for the development to deliver in 2025. Richard Henry, Mike Ryan, Brian Linnihan and J.P. Cordeiro of CBRE Capital Markets’ Debt & Structured Finance team in Atlanta …

October 30, 2023

Marine Drive Apartments in Buffalo, New York

Affordable Housing Development New York News Northeast

Habitat Secures Approval for $400 Million Affordable Housing Redevelopment in Buffalo, New York

by Channing Hamilton October 30, 2023

BUFFALO, N.Y. — Habitat, a developer and property manager based in Chicago, has received planned unit development approval from the Buffalo Common Council to redevelop Marine Drive Apartments. The $400 million project is a joint venture between Habitat, Duvernay + Brooks and the Buffalo Municipal Housing Authority. The property currently comprises 616 units across seven 12-story towers, which were built more than 70 years ago and have since fallen into disrepair. Phase one of the redevelopment will include constructing a mix of new towers on the lot adjacent to the complex’s current buildings. …

October 30, 2023

Development Finance Investment Sales Market Reports Texas

Houston Landlords Fend Off Economic Challenges

by Channing Hamilton October 30, 2023

Houston apartment owners are still navigating through stormy weather, not just because hurricane season has kicked off. A surge in new supply, strains on net operating income (NOI) and capital markets pressures are testing the mettle of Houston developers and investors. “Without a doubt, the big story is all the challenges hitting from every direction: a very tight lending market, stubbornly high construction costs, interest rates and insurance costs,” says Dennis (D.J.) Blanchard, vice president of development and legal affairs with Sueba USA Corp. “Firms have to be well-positioned to …

October 30, 2023

Investment Sales New York News Northeast

Stav Equities Brokers $3.8 Million Sale of Seven-Unit Property in Brooklyn

by Channing Hamilton October 27, 2023

NEW YORK CITY — Stav Equities has negotiated the $3.8 million sale of a seven-unit property located at 10 Clermont Ave. in the New York City borough of Brooklyn. Jacob Stavsky of Stav Equities represented the buyer, Neue Urban, in the off-market transaction. According to LoopNet Inc., the building was constructed in 1915 and comprises 5,240 square feet across four stories.

October 27, 2023

Development Leasing & Marketing News Texas

Wolfe Investments Begins Leasing Four Cedars Apartments in Gunter, Texas

by Channing Hamilton October 27, 2023

GUNTER, TEXAS — Wolfe Investments has begun leasing Four Cedars Apartments in Gunter, about 52 miles north of Dallas. The property offers 88 one- and two-bedroom units, as well as amenities including pool, clubhouse and outdoor grilling and dining areas. Rents start at $1,450 per month for a one-bedroom apartment. The first move-ins are expected to begin this December.

October 27, 2023

Colorado Investment Sales News Western

MG Properties Purchases 4400 Syracuse Apartments in Denver

by Channing Hamilton October 27, 2023

DENVER — MG Properties has acquired 4400 Syracuse Apartments has acquired 4400 Syracuse Apartments from Morgan Group and LaSalle Investment Management for an undisclosed price. 4400 Syracuse Apartments offers 316 units in Denver’s Denver Tech Center/Southeast Business Corridor. Jordan Robbins and Alex Possick of JLL Capital Markets represented the sellers in the deal. Financing for the transaction was provided by Freddie Mac and arranged by Charles Halladay, Rick Salinas, Brandon Smith and Annie Rice of JLL Capital Markets.

October 27, 2023

Development Finance News Texas

Woodfield Development, ApexOne Investment Partners Secure Construction Financing for Riley’s Pointe in Austin Suburb

by Channing Hamilton October 27, 2023

SAN MARCOS, TEXAS — Woodfield Development and ApexOne Investment Partners have secured construction financing for Riley’s Pointe, a 360-unit development in the Austin suburb of San Marcos. The garden-style community will rise three stories within the larger Riley’s Pointe master planned community, which will also include commercial and retail space. A construction timeline for the project was not disclosed. Adam Bieber and Alec Jenkins of BWE arranged a senior loan through a major regional bank, and a preferred equity investment through a Private Equity firm.

October 27, 2023

Newer Posts

Older Posts