Author

Channing Hamilton

Average effective rent in northern New Jersey

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 …

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Mark Biancucci

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.

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The Winslow

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 …

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Slate at Fishers District

INDIANAPOLIS — Thompson Thrift has sold Slate at Fishers District, a 242-unit build-to-rent (BTR) community in Fishers, about 21 miles northeast of Indianapolis. Bonaventure Holding Co. purchased the asset for an undisclosed amount. Slate at Fishers District was built on about 25 acres in 2024. The community offers one-, two- and three-bedroom villas, as well as three- and four-bedroom townhomes. The property was more than 90 percent occupied at the time of the sale. Amenities include a clubhouse, pool with cabanas, fitness center, bark park and pet spa. George Tikijian, …

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The Elle Apartment Homes

SAN ANTONIO — Koontz Corp. has bought a 9.7-acre site in San Antonio from The Concordia Group for an undisclosed price. Koontz will develop The Elle Apartment Homes, a 305-unit community, on the land. Lee Jordan of Cavender & Hill Properties represented The Concordia Group in the sale of the land. Koontz represented itself in the deal. The Elle Apartment Homes will be a complex of four-story buildings comprising 264,015 net rentable square feet. The community will offer a mix of one- and two- bedroom apartments. Residents will have access …

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Park Vista Apartment Homes

ANAHEIM, CALIF. — BLDG Partners has secured a $82 million loan for the acquisition of Park Vista Apartment Homes, a 392-unit affordable housing community in Anaheim. Martin Fayer of NewPoint Real Estate Capital arranged the fixed-rate Fannie Mae loan, which has a seven-year term with five years interest only.  The garden-style community was originally constructed in 1959, then renovated in 2001. The property consists of 93 two-story buildings spread across approximately 20 acres. Park Vista Apartment Homes is affordable to households earning at or below 60 percent of the area …

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Rylan at Gateway

FORNEY, TEXAS — A joint venture between Legacy Partners and The Resmark Cos. has begun leasing for Rylan at Gateway, a 336-unit community in Forney, about 22 miles east of Dallas. Rylan at Gateway is located at 1205 Gateway Blvd. within Gateway, a 2,000-acre master-planned development. The community consists of five three-story buildings. Apartments come in a mix of studio, one- and two-bedroom layouts and range from 540 to 1,374 square feet. Units feature smart home technology, Wi-Fi connectivity, stainless steel appliances, wood-style flooring and full-size washers and dryers. Select …

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Matt Keane and Matt Zetzl

INDIANAPOLIS — The Annex Group has hired Matt Keane as vice president of public-private partnerships (P3) and promoted Matt Zetzl to the role of P3 development manager. Keane will provide business development and partnership solutions while leading the Indianapolis-based firm’s P3 team. Zetzl will be responsible for P3 procurement and advancing Annex’s P3 community impact plans.

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Eight Winds

ST. AUGUSTINE, FLA. — Altis Cardinal has sold Eight Winds, a 280-unit community located at 50 Wexford Way in St. Augustine, roughly 40 miles south of Jacksonville, Florida. Debartolo Development LLC purchased the asset for an undisclosed price. Cliff Taylor and Joe Ayers of JLL Capital Markets represented Altis Cardinal in the transaction. Eight Winds consists of 297,428 square feet of rentable space. The community offers a mix of one-, two- and three-bedroom units. Residents have access to amenities such as a pool, fitness center, pickleball courts and multiple indoor …

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Azola Desert Ridge

PHOENIX — ZOM Living has secured financing for the development of Azola Desert Ridge, a 416-unit community in Phoenix. The funding includes $88 million in construction financing, as well as a joint venture equity investment from Origin Investments. Azola Desert Ridge will offer 416 units across multiple four-story buildings. The garden-style community will feature one-, two- and three-bedroom apartments ranging from 730 to 1,533 square feet. Amenities include a pool and deck, fitness center, dog park, pet grooming salon, glam room, podcast room, individual offices for residents and a self-service market …

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