KILLEEN, TEXAS — Colliers Mortgage has provided a Fannie Mae loan for the refinancing of Hillcrest Apartments in Killeen, a city in Bell County, Texas. Fritz Waldvogel originated the seven-year, interest-only loan through a partnership with Old Capital Lending. The borrower was not disclosed. Hillcrest Apartments was built in 1974. The community offers 60 units in one- and two-bedroom floor plans.
CARTERSVILLE, GA. — A partnership consisting of Kaplan Residential and Atlantic Residential has opened Everton Estates, a build-to-rent community in the Atlanta suburb of Cartersville. Everton Estates offers 183 townhome units in two- and three-bedroom layouts. Each unit garage includes an EV charger. Amenities include a pool with cabanas, grill stations, fire pits, a playground, game lounge, fitness center, clubroom and an entertainment kitchen. Crosby Design Group designed the townhomes, while English & Associates architects designed and built the amenity spaces.
ATLANTA — CA Ventures has opened 903 Peachtree, a 33-story high-rise building in Atlanta’s Midtown neighborhood. The development team also includes Diamond Realty Investments and Cartel Properties. Cartel Properties is both a development partner and is leading the retail leasing assignment on behalf of the ownership group. Lincoln Property Co. is the property manager. 903 Peachtree offers 427 units in studio, one-, two- and three-bedroom floor plans, as well as 9,000 square feet of retail space. Units feature stainless steel appliances, in-unit washers and dryers, floor-to-ceiling windows and private balconies …
PESADENA, TEXAS — Greystone has arranged a $20.9 million Fannie Mae multifamily affordable housing loan for the acquisition of Parkside Place, a garden-style affordable community in the Houston suburb of Pasadena. The borrower was not disclosed. Michael Zampetti originated the loan. Parkside Place comprises 321 apartments across 27 buildings on an 11.3-acre site. The property was consisted in 1969 and was renovated in 2018. Amenities include two pools, a laundry facility, business center, and private patios. Income restrictions for the community were not disclosed.
MERIDEN, CONN. — Greystone has arranged an $11 million loan through Fannie Mae to refinance The Kennedy Building in Meriden, a city located halfway between New Haven, Connecticut, and Hartford, Connecticut. Dan Sacks originated the financing on behalf of Kennedy Holdings LLC. The loan features a ten-year term and 30-year amortization, with seven years of interest-only payments. The Kennedy Building was constructed in 1921. The building rises five stories and offers studio, one- and two-bedroom apartments.
MIAMI — Atlantic Pacific Companies and GTIS Partners have formed a joint venture to invest in the ongoing development of Atlantic Station, a high-rise project in Miami. Atlantic station will rise 36 stories on a 2.1-acre site. The building will offer 616 apartments, 25,000 square feet of retail space and a 624-space parking garage. Of the total unit count, 360 will be affordable, although exact income restrictions were not disclosed. Amenities will include a recreation deck with two pools, a gym, picnic areas, a dog park and co-working spaces. Vertical …
CHICAGO — JLL Property Management has hired Lewis Taulbee as a managing director of asset resolutions. In this role, Taulbee will lead JLL’s Chicago-based receivership team in providing special servicers, lenders, bond holders, investors and others with a channel of interdisciplinary asset resolutions. He previously served as JLL’s director of business development for two years. Prior to joining JLL, he held positions with Starwood Capital, CompassRock Real Estate and Simon Property Group. He is a currently standing member of Innovative Commerce Serving Communities, Commercial Real Estate Finance Council and Building …
RALEIGH, N.C. — Bell Partners has acquired Vintage Jones Franklin, a 277-unit complex in Raleigh. The asset was acquired on behalf of Bell Core Fund I investors and will be rebranded as Bell Jones Franklin. Completed in 2022, Bell Jones Franklin offers studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, pet park, clubhouse and a pool with cabanas. The property is located between suburban Cary and downtown Raleigh, and is in proximity to 280 entertainment and retail locations within a three-mile radius.
MIAMI — Avison Young has arranged the sale of a 7.9-acre development site at 1556 110th Ave. in Miami. Boca Raton, Fla.-based Procacci Development Corp. sold the asset for $38 million. The buyer was not disclosed. David Duckworth, Michael Fay, John Crotty, Brian de la Fé and Wayne Schuchts of Avison Young arranged the transaction on behalf of the seller. The site is approved for a 690-unit, 10-story project called Dolphin Square. Leo A Daly designed the current site plan for the project, which is located near Dolphin Mall.
In downtown Nashville, supply is overtaking demand, leaving renters in a position of power. Developers brought 8,175 units to the market in 2022, up 40 percent from 2021’s deliveries, according to Northmarq. But only about half of the units delivered last year — 4,200 — were absorbed. Owners, however, have a surprisingly glass-half-full perspective about excess supply and rising vacancies. Not only do they say this market condition is temporary. They also believe it provides an opportunity in disguise. It’s a chance to fine-tune the customer service side of the …