CHICAGO — Newmark has arranged a $110 million loan for the refinancing of Cityfront Place, a 39-story apartment tower situated in the Streeterville neighborhood of downtown Chicago. The borrowers, Strategic Properties of North America and Mirae Asset Securities, acquired the 480-unit property in 2020. Cityfront Place features a mix of studio, one- and two-bedroom apartments. Residents have access to amenities such as a fitness center, indoor pool, rooftop terrace, resident lounge and indoor parking, as well as direct access to the Riverwalk. Strategic Properties of North America and Mirae Asset …
AUSTIN — Trammell Crow Company (TCC) has hired Sean Wolff as a senior vice president. Wolff will be responsible for sourcing and overseeing new development opportunities for High Street Residential (HSR), the multifamily development subsidiary of TCC. He will report to Brad Maples, managing director and market leader of TCC Austin. Wolff joins HSR from Slate Real Estate Partners in Austin, where he most recently served as a managing director. Wolff has also held positions at Holliday Fenoglio Fowler and Oden Hughes. He received a Bachelor of Arts from The …
CHARLOTTE, N.C. — Rosewood Property Co., a Dallas-based investment and development company, has opened a new office in Charlotte. Additionally, the company hired Caci Jaeger to lead the new office as senior vice president of Carolinas. In her new role, Jaegar will manage and direct multifamily development activities throughout the region. She will also oversee the office’s operations and staff. Jaeger previously served as a partner with Charlotte-based Cedar Square. She has also held positions with LCOR Inc. and Corebridge. She earned her undergraduate degree in urban studies from Brown …
SAN DIEGO — Locally-based Naturally Affordable Housing has received $10.1 million in construction takeout financing for North Park Nest, a 39-unit property located at 4233 Kansas St. in San Diego’s North Park neighborhood. The community features a mix of studio and one-bedroom apartments. The average unit size is 486 square feet. Amenities include a rooftop deck with a barbeque and lounge area. Brad Vansant and Ben Choromanski of JLL Capital Markets represented the borrower in arranging the short-term, floating rate bridge loan.
NEW YORK CITY — TS Communities, the affordable housing platform of Tishman Speyer, is set to break ground on Edgemere Commons A2, a 244-unit affordable housing development in Queens. The community will rise 18 stories at 337 Beach 52nd St. Units will come in studio, one-, two- and three-bedroom floor plans. Edgemere Commons A2 will be affordable for households earning between 40 to 80 percent of the area median income. Additionally, 73 units will be set aside as supportive housing. Social service provider Breaking Ground will operate the supportive housing units. Residents will …
KINGWOOD, TEXAS — High Street Residential, in a joint venture with Japanese homebuilder Daiwa House Group, has completed Reserve at Kingwood East, a 181-unit development in Kingwood, about 27 miles north of Houston. The project, formerly known as Reserve at West Lake, consists of 109 townhomes and 72 apartments. The property represents Phase II of a larger development. The first phase comprised 240 apartments and 49 townhomes and was recently completed in April 2024. Units come in one-, two- and three-bedroom floor plans. The average apartment size is 1,046 square feet, …
CHICAGO — Habitat, a developer and property manager based in Chicago, has promoted Wendy Deetjen to vice president of the firm’s national market-rate portfolio. In this role, she will oversee Habitat’s portfolio of communities across the Chicago, Detroit and Minneapolis metropolitan areas. The portfolio totals roughly 4,500 market-rate units. Deetjen joined Habitat as a regional manager in 2017. Most recently, she served as senior regional manager. Prior to joining Habitat, Deetjen was area vice president with The Laramar Group and a regional manager with Lincoln Property Co. She received a …
Stability is a defining characteristic of the Northern New Jersey multifamily market. Unlike some markets that are prone to dramatic booms and busts, the region has long benefited from a diverse economy, proximity to New York City, an educated workforce and a steady flow of young professionals and families seeking high-paying jobs. These fundamentals have allowed North Jersey to thrive over the past few years, with immigration fueling population growth and new industry clusters producing new jobs. These trends will drive demand for rental housing and allow investors to find …
CAMDEN, N.J. — Camden-based owner, operator and developer The Michaels Organization has hired Mark Biancucci to the newly created position of deputy chief financial officer. Most recently, Biancucci was the chief financial officer at Lendlease, where he oversaw financial strategies for the company’s investment management, development, construction and military housing portfolio. Prior to joining Lendlease, he held senior finance roles at a private real estate firm.
NORTH FORT MYERS, FLA. — A partnership between Mast Capital and BLG Capital Advisors has topped off The Winslow in North Fort Myers, about 3 miles across the Caloosahatchee River from Fort Myers, Florida. Located at 13370 Magnolia Oak Circle, The Winslow will offer 320 units housed in three- and four-story apartment buildings. Tenants will have access to indoor amenities such as a fitness center, lounge, entertainment kitchen, marketplace, dog spa and workspace area for residents that are working from home. Outdoor amenities will include a pool, sun deck with outdoor seating and …