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Channing Hamilton

1244, 1301 and 1325 W Devon
IllinoisInvestment SalesMidwestNews

Kiser Group Brokers Sales of Three Communities in Chicago for $10.5 Million

by Channing Hamilton

CHICAGO — Kiser Group has arranged the sales of three communities located in Chicago’s Edgewater neighborhood for a total of $10.4 million. The assets, which were all constructed in 2016, consist of 25 two- and three-bedroom units with ground-floor commercial space. Andy Friedman and Jake Parker of Kiser brokered the sales. The buildings were originally listed as a portfolio sale, but Kiser decided to split the buildings for individual sale, citing the rise in interest rates at the time of launch. All three buildings sold to new entrants in the …

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FinanceNew YorkNewsNortheast

Wells Fargo Provides $231 Million in Bond Financing for Manhattan Apartment Building

by Channing Hamilton

NEW YORK CITY — Wells Fargo has provided $231 million in tax-exempt bond financing for Hawthorn Park, a 54-story residential tower located at 160 W. 62nd St. on Manhattan’s Upper West Side. The building features 339 units, 271 of which are rented at market rates and 68 of which have been set aside as affordable for households earning 50 percent or less of the area median income. According to Apartments.com, Hawthorn Park was built in 2014. The property offers studio apartments with an average size of 500 square feet. Amenities …

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FinanceMidwestMinnesotaNews

Aeon Secures $39 Million for Refinancing of Affordable Housing Portfolio in Metro Twin Cities

by Channing Hamilton

NEW HOPE, BLOOMINGTON AND ST. PAUL, MINN. — Aeon, a Twin Cities-based nonprofit that builds affordable housing, has received $39 million in loans to refinance a portfolio of six affordable housing communities in New Hope, Bloomington and St. Paul. Victor Agusta of BWE originated the Freddie Mac loans on behalf of Aeon. The portfolio includes Bass Lake Crossing and Kings Manor in New Hope; Cedar Gate, Cedar Glen and Metropolitan Towers in Bloomington; and Larpenteur Villa in St. Paul. The properties total 529 units, all of which are reserved for …

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Ashton
Investment SalesNewsTexas

Marcus & Millichap Brokers Sale of 152-Unit Asset Near Fort Worth, Texas

by Channing Hamilton

SAGINAW, TEXAS — Marcus & Millichap has arranged the sale of Ashton, a 152-unit property in Saginaw, roughly 8 miles north of Fort Worth, Texas. Ford Braly, Al Silva and Dylan York of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private out-of-state investor, and procured the buyer, a local operator. Located at 681 N. Saginaw Blvd., Ashton was built in 1984. The community features one- and two-bedroom apartments with patios or balconies, walk-in closets and fireplaces. Tenants have access to amenities such …

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Pullman Modern Urban Apartments
CaliforniaFinanceNewsWestern

Phoenix Development Co. Receives $27.8 Million in Refinancing for Property in Santa Rosa, California

by Channing Hamilton

SANTA ROSA, CALIF. — Phoenix Development Co. has received $27.8 million in refinancing for Pullman Modern Urban Apartments in Santa Rosa, about 55 miles north of San Francisco. The community consists of 114 apartments across three residential buildings located at 725 Wilson St., 755 Wilson St. and 85 8th St. The project is currently in lease-up with stabilization estimated toward the end of 2025. Gary Mozer of IPA Capital Markets, a division of Marcus & Millichap, arranged the 36-month, floating-rate nonrecourse loan, which features interest-only payments for the full term, on …

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Highline at Knoxville
Build-to-RentInvestment SalesNewsSoutheastTennessee

PPR Capital Management Purchases BTR Community in Knoxville, Tennessee, for $87 Million

by Channing Hamilton

KNOXVILLE, TENN. — PPR Capital Management has purchased Highline at Knoxville, a build-to-rent (BTR) community in Knoxville, for $87 million. The acquisition includes both Phase I and Phase II of the project. Phase I consists of 110 single-family rental (SFR) units, which are currently in lease-up. Phase II, which is slated to be delivered in tranches between 2026 and 2027, will add 151 townhomes and detached SFR homes. BTR Group is the general contractor for the project. Greystar is the property manager. PPR Capital Management partnered with Center Creek Capital …

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Cypress Drive Apartments
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Brokers Sale of Six-Unit Property in Fort Lauderdale, Florida

by Channing Hamilton

FORT LAUDERDALE, FLA. — Marcus & Millichap has arranged the $1.3 million sale of Cypress Drive Apartments, a two-story apartment building located at 5195 NE 18th Ave. in Fort Lauderdale’s Coral Ridge Isles neighborhood. The property offers six units in a mix of one- and two-bedroom configurations. Amenities include a pool and an on-site laundry facility.  Austin Michels, Brandon Rex and Evan Kristol of Marcus & Millichap’s Fort Lauderdale office represented the undisclosed buyer in the deal. The seller was also not disclosed.

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The Bellwood Gateway Development
Affordable HousingDevelopmentIllinoisMidwestNews

F.H. Paschen Tops Off First Phase of $43 Million Workforce Housing Project Near Chicago

by Channing Hamilton

BELLWOOD, ILL. — F.H. Paschen has topped off Phase I of the Bellwood Gateway Development, a $43 million workforce housing project in Bellwood, about 15 miles west of Chicago. The four-story, 71-unit community at 2711 and 2712 St. Charles Road is slated to open in Spring 2026. The property will also include 6,000 square feet of ground-floor commercial space. F.H. Paschen broke ground on the project in July 2024. Chicago-based DesignBridge was the architect. Financing sources for the project include TIF financing, workforce housing bonds and a State of Illinois grant …

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Villages of Briar Forest
Investment SalesNewsTexas

Lion Real Estate Group Acquires 241-Unit Community in Houston

by Channing Hamilton

HOUSTON — Lion Real Estate Group LLC (Lion), a Dallas-based real estate investment and asset management firm, has acquired the Villages of Briar Forest, a 241-unit community in Houston. Located at 14504 Briar Forest Drive, the property was built in 1999 and underwent a partial renovation by the previous owner. Lion will continue upgrading the units and overall community. Planned renovations include updating units with new quartz counter tops, vinyl plank flooring, backsplashes, cabinetry and lighting packages. The already-renovated units will see minor upgrades, including quartz countertops in the bathrooms …

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The Italic
Affordable HousingDevelopmentNew YorkNewsNortheast

Partnership Begins Leasing 50-Story Apartment Building in Queens

by Channing Hamilton

NEW YORK CITY — A partnership between two locally based developers, Fetner Properties and Lions Group, has begun leasing The Italic, a 50-story building located at 26-32 Jackson Ave. in the Long Island City area of Queens. The building offers 363 units in studio, one-, two- and three-bedroom configurations, with 109 residences designated as affordable housing. Income restrictions for these units were not disclosed. Rents start at approximately $3,800 per month for a studio. Shared amenities include a communal lounge, fitness center, golf simulators, a basketball court, coworking spaces and …

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