DALLAS — JLL has arranged a $255 million credit facility for SimplyHome, a Houston-based developer of single-family rental properties. The developer’s holdings encompass more than 10,000 units across 100 submarkets. Colby Mueck, Matthew Putterman, Laura Brown and Davis Burnett of JLL secured the credit facility though Churchill Real Estate. The facility refinanced an initial portfolio of homes located in the Houston, Dallas-Fort Worth, San Antonio and Bryan/College Station markets.
LOS ANGELES — Greystone Commercial Capitaland Affinius Capital have brokered a $135 million mortgage loan for the refinance of Rise Koreatown, a high-rise community in Los Angeles’ Koreatown neighborhood. Greystone and Affinius Capital arranged a syndicated funding, which originates institutional structured commercial mortgage loans including subordinate debt for all major property types. The property was built in February 2023 by Rescore Property Group, a private REIT and affiliate of Encore Capital Management. Rise Koreatown comprises 363 units and 47,417 square feet of retail space on a 2.3-acre site.
CBRE has dubbed the Indianapolis apartment market “The Star of the Midwest” due to a combination of factors: its business-friendly climate, bustling life sciences and technology sectors, and exceptional rent growth. The giant real estate services firm points out in its 2023 Indianapolis Multifamily Market Overview that Indianapolis led the nation in year-over-year effective rent growth in October, November and December 2022 based on data from Yardi Matrix. In December, Indy posted an 11.4 percent increase in effective rents on an annual basis, the only metroplex to produce double-digit year-over-year growth. Despite …
DALY CITY, CALIF. — BRIDGE Housing has acquired Eaves Daly City, a 195-unit community in Daly City, 10 miles south of San Francisco. Built in 1972, the property offers 11 two- and three-story buildings across 8.2 acres. Units come in studio, one-bedroom and two-bedroom layouts. Amenities include a pool, spa and fitness center. BRIDGE Housing plans to preserve at least half of the units in perpetuity for residents earning up to 80 percent of the area’s median income. Currently, the units have no income restrictions. BRIDGE Housing also plans to …
LOUISVILLE, KY. — Greystone has arranged a $42.3 million Fannie Mae Delegated Underwriting & Servicing loan for 800 Tower City Club Apartments in Louisville. The non-recourse, fixed-rate financing carries a ten-year term and 30-year amortization, with three years of interest-only payments. Anthony Cristi brokered the deal on behalf of 800 City Apartments LLC. The building rises 29 stories and offers studio, one- and two-bedroom units. The property was built in 1963.
BRANDON, FLA. — Trilogy Real Estate Group has acquired Azalea Apartments, a 289-unit community in the eastern Tampa, Florida suburb of Brandon, from ZOM Living for $85.8 million. Azalea Apartments is currently under construction, with the first move-ins slated to begin this quarter. Units come in one-, two- and three-bedroom layouts. Amenities include a pool, fitness center with a spinning studio and yoga lawn, event lawn, gaming area, dog park and pet salon.
ATLANTA — McKinley Homes has received a $52.2 million loan to refinance and lease-up 142 units within Seven88 West Midtown in Atlanta’s Midtown West neighborhood. David Perlman, Edward Prosser and Scott Sumida of Thorofare Capital originated the loan. Ben Nevid, Drew Anderman, Naphtali Marrus and Elliot Braude at Meridian Capital Group arranged the financing. Built in 2020, Seven88 West Midtown comprises 279 units and 8,639 square feet of ground floor retail space. Units come in studio, one-, two- and three-bedroom layouts, and feature outdoor space or balconies, quartz countertops, hardwood …
RIALTO, CORONA AND REDLANDS, CALIF. — Marcus & Millichap has arranged the $53.4 million sale of a three-property multifamily portfolio in the Inland Empire region of Southern California. Alexander Garcia and Bill Roblero represented the buyer, Clear Capital LLC. The portfolio includes: Rialto Breeze Apartments, a 98-unit asset in Rialto; Parkview Manor Apartments, a 76-unit property in Corona; and 60-unit Staci Court Apartments in Redlands. Rialto Breeze Apartments was built in 1985 on five acres. The community includes amenities such as a pool and laundry facilities. Parkview Manor Apartments was …
LOS ANGELES — Blake Rogers and Alex Caniglia have re-joined JLL Capital Markets as multifamily investment sales producers. Rogers will serve as a senior managing director in the Los Angeles office and lead the greater Southern California multifamily team. He will also join the National Multifamily Housing Council. Caniglia will join as a Managing Director in the San Diego office. Both Rogers and Caniglia spent the last three years with Walker & Dunlop, focusing on multifamily investment sales throughout Southern California. Prior to those roles, they both worked at JLL …
IRVINE, CALIF. — Michael Wesson has rejoined Pearlmark as a managing director. In this role, Wesson will focus on debt investment originations. He also opened Pearlmark’s office in Irvine. Wesson joins Pearlmark from CIBC, where he held numerous roles across nine years in New York and Newport Beach. Prior to working at CIBC, Mr. Wesson served as a vice president at Rockwood Real Estate Advisors. He is returning to Pearlmark, where he started as an analyst and rose to vice president prior to joining Rockwood. He received a Bachelor of …