BOSSIER CITY, LA. — RCMI has purchased Stockwell Landing Apartments, a complex in the Shreveport, Louisiana suburb of Bossier City. John Hamilton, Will Balthrope and Drew Garza of Institutional Property Advisors represented the seller and procured the buyer. Steve Greer is Marcus & Millichap’s broker of record in Louisiana. Built in 2005 on 11.5 acres, Stockwell Landing Apartments offers 241 units. According to Apartments.com, units come in one-, two- and three-bedroom floor plans.
BROOKLYN, N.Y. — A joint venture between The Carlyle and Z+G Property Group has acquired 8 Marcy Ave., an eight-story building in the Brooklyn neighborhood of Williamsburg, from Prospect Development for $97.5 million. JLL Capital Markets brokered the deal. The building was delivered in January. The community offers studio, one- and two-bedroom floor plans. Of the total 123 units, 37 are affordable. Income restrictions for these units were not disclosed. The JLL Capital Markets Investment Sales and Advisory team representing the seller included Ethan Stanton, Jeffrey Julien, Brendan Maddigan, Stephen Palmese, …
TOMS RIVER, N.J. — Garden Communities has fully leased up Green Meadows at Pleasant Plains, a 175-unit in the coastal New Jersey township of Toms River. Development on the property was completed in February. Green Meadows at Pleasant Plains offers one- and two-bedroom apartments and two- and three-bedroom townhomes. Amenities include a pool, fitness center, community room, playground and walking trails.
HACKENSACK, N.J. — M&M Development acquired a redevelopment site in Hackensack from the estate of Donald Gonzalez in care of Michael Sprague Esq. Anthony Cassano of NAI James E. Hanson represented both the buyer and the seller in the transaction. The site comprises 30,800 square feet across five adjacent lots located at 75, 77 and 81 Linden St. as well as 80 and 84 Vanderbeck Pl. M&M Development plans to convert the property into a new community. The site is zoned for medium-density multifamily. A construction timeline was not disclosed.
AGAWAM, MASS. — Way Finders has secured $5.2 million in affordable housing financing from MassHousing to develop Rosewood Way Townhomes in Agawam. The project will offer 62 apartments across 10 townhome-style buildings. Units will come in one-, two- and three-bedroom floor plans. Eight units will be affordable to households earning at or below 30 percent of the area median income (AMI), 12 units to households earning up to 50 percent of AMI, 27 to households earning up to 60 percent of AMI, 10 will be workforce housing units for households …
PASADENA, CALIF. — PSRS has arranged the $9.6 million refinance of Renaissance Court, a mixed-use community in Pasadena. Renaissance Court offers 41 units, including one- and two-bedroom apartments and two-bedroom townhomes. The property also includes nine ground-level retail units. Kostas Kavayiotidis arranged the non-recourse loan through a life insurance company. The loan features a 10-year term and 30-year amortization.
ATLANTA — Rockefeller Group has broken ground on 1072 West Peachtree, a mixed-use high-rise development in Midtown Atlanta. Sumitomo Mitsui Trust Bank Ltd. is providing a senior loan to Rockefeller Group to construct the project. A joint venture between Rockefeller, Japan-based Taisei USA LLC and Mitsubishi Estate New York is providing equity. TVS is the lead architect. The tower will offer more than 350 apartments, as well as 224,000 square feet of office space and 6,300 square feet of street-level retail space. According to Rockefeller Group, the tower is slated …
RICHMOND, VA. — BWE arranged a $50 million loan to facilitate the development of 900 North Allen Apartments in Richmond’s Newtowne West neighborhood. Charles DuBose, Adam Bieber and Alec Jenkins originated the loan through a regional bank on behalf of Spy Rock Realty Group. 900 North Allen Apartments will offer 300 one-, two-, and three-bedroom units, as well as amenities including a pool, fitness center, lounge, dog park, co-working booths and an internal parking garage. The community is being built in one of Richmond’s opportunity zones as part of a federal initiative …
PFLUGERVILLE, TEXAS — Newmark has brokered the sale of Autumn Ranch on Swenson Farms, a 336-unit community located in the Austin suburb of Pflugerville. Patton Jones and Andrew Dickson represented the seller, MIG Real Estate. Knightvest Capital acquired the asset. Autumn Ranch on Swenson Farms was built in 2008 on a 16.9-acre site. Units come in one- and two-bedroom layouts with an average size of 1,041 square feet. Amenities include a pool, clubhouse, fitness center, dog park and package lockers. Additionally, 133 units were recently renovated with new flooring, interior paint, light …
ST. PAUL, MINN. — Sherman Forbes Housing Partners, an affiliate of Vitus Group LLC, has secured a $18.3 million HUD loan to facilitate the renovation of Sherman Forbes Housing in St. Paul, Minnesota. The loan carries a 40-year term and amortization. Sherman Forbes Housing offers 104 units in one- and two-bedroom floor plans. Amenities include on-site laundry, off-street parking, a community playground and a community patio. The project will also utilize four percent Low Income Housing Tax Credits and Tax-Exempt Bonds. The Bonds were underwritten by Colliers Securities LLC. Income restrictions …