Author

Channing Hamilton

South Pier at Tempe Town Lake in Tempe, Arizona
ArizonaDevelopmentFinanceNewsWestern

McBride Cohen Secures $53.2 Million in Financing for South Pier at Tempe Town Lake in Tempe, Arizona

by Channing Hamilton

TEMPE, ARIZ. — The McBride Cohen Co. has secured a $53.2 million mezzanine debt investment to develop the first phase of South Pier at Tempe Town Lake, a waterfront project on Tempe Town Lake in Tempe. The mezzanine debt investment loan was originated by Pearlmark on behalf of Pearlmark Mezzanine Realty Partners and a commingled investment vehicle managed by Waterton. Pearlmark is a Chicago-based investment firm that targets domestic core to value-add real estate opportunities. Waterton is a property investment and management company with a focus on multifamily, senior living …

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ColoradoFinanceNewsPeople NewsWestern

Tower Capital Adds Kevin Wieland to Leadership Team in Denver

by Channing Hamilton

DENVER — Kevin Wieland has joined Tower Capital as a Senior Vice President. In this role, Wieland will arrange debt and equity capital for investors to acquire, develop, reposition or refinance commercial projects in the Rocky Mountain Region and key West Coast markets. Wieland previously served more than 13 years at LaSalle Investment Management, where he was responsible for originating, sourcing, structuring, underwriting, and closing more than $1.3 billion in debt investments. He also held positions at Wells Fargo, CIM GROUP and Cushman Realty Corp. Wieland received a bachelor’s in …

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Affordable HousingCaliforniaNewsOperationsPeople NewsWestern

Alta Housing Adds Stephanie Shipe as Vice President of Property Management

by Channing Hamilton

PALO ALTO, CALIF. — Alta Housing has selected Stephanie Shipe as Vice President of Property Management. In this role, Shipe will manage over 1,000 units and a team of 35 professionals. Shipe previously served as the Director of Portfolio Management for the Housing Authority of the City of Alameda, California. Prior to this, she served as Director of Operations at MidPen Housing, a non-profit developer, owner and of affordable housing in California and was appointed to the City of Alameda Housing Authority’s Board of Commissioners. Shipe received a Bachelor of Science …

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A 3D render of the Thread in Washington, D.C.
DevelopmentFinanceNewsNortheastWashington, D.C.

Community Three Development Secures $17 Million to Develop The Thread in Washington, D.C.

by Channing Hamilton

WASHINGTON, D.C. — Community Three Development has secured $17 million in construction financing for The Thread, the second phase of a redevelopment project in Washington, D.C. The project involves the conversion of the Grimke School building and surrounding properties into a mixed-use development. Clearwater Capital Management arranged the financing, which includes a senior loan from City First Bank and C-PACE financing facility from Stonehill PACE. Community Three Development completed the first phase of the redevelopment in July 2021. The property currently includes the African American Civil War Museum, the headquarters …

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MidwestNewsOhioPeople News

Bellwether Enterprise Real Estate Capital Names DJ Effler as CEO

by Channing Hamilton

CLEVELAND, OHIO — Bellwether Enterprise Real Estate Capital (BWE) has selected DJ Effler as CEO. Effler has served as the company’s president since 2020, where he oversaw operations and numerous investor relationships at BWE’s Columbus, Ohio office. He previously held a position as an executive vice president. Prior to joining BWE, Effler was a life company lender at Nationwide and a private equity investor at Rockbridge Capital. Effler will officially become CEO on July 1. The current CEO, Ned Huffman, will remain as a special advisor to the company. 

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Colinas Ranch Apartments in Irving, Texas
Investment SalesNewsTexas

Eagle Property Capital Investments Sells Colinas Ranch Apartments in Dallas Suburb

by Channing Hamilton

IRVING, TEXAS — Eagle Property Capital Investments (EPC) has sold Colinas Ranch Apartments, a 160-unit apartment community in the northwest Dallas suburb of Irving, to an undisclosed buyer. The property was built in 1971 and acquired by EPC Multifamily Partners IV, LLC and RealtyMogul 89 in October 2018. EPC renovated the property with updated apartment interiors and common areas, new amenities and water and energy conservation features. According to Apartments.com, the property currently offers one-, two- and three-bedroom units featuring stainless steel or black appliances, granite counter tops, electric fireplaces …

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Sea Park Apartments in Brooklyn, New York
Affordable HousingDevelopmentInvestment SalesNew YorkNewsNortheast

Joint Venture Acquires $150M Sea Park Apartment Complex on Coney Island in Brooklyn, New York

by Channing Hamilton

BROOKLYN, N.Y. — Tredway, Gilbane Development Co. and ELH Mgmt. have jointly acquired Sea Park Apartments, an affordable community in Brooklyn’s peninsular neighborhood of Coney Island. The sale price was not disclosed, but several media sources are reporting the property traded hands for $150 million. Berkadia and Deutsche Bank are the lenders. ELH Mgmt will serve as property manager. Victor Sozio, Shimon Shkury, Benjamin Vago and Remi Mandell of Ariel Property Advisors arranged the sale on behalf of the undisclosed seller. Sea Park Apartments comprises 816 apartments across three buildings. Of the …

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CaliforniaNewsPeople NewsWestern

Northmarq Newport Beach Office Adds Morgan Machado as Vice President-Producer

by Channing Hamilton

NEWPORT BEACH, CALIF. — Northmarq has hired Morgan Machado to its Newport Beach office as vice president-producer. In this role, Machado will arrange debt and equity on behalf of U.S. investors for multifamily and commercial real estate. Prior to joining the company, Machado was a commercial mortgage banker at Slatt Capital. He earned a Bachelor of Business Administration in finance from the University of San Diego.

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Ho'omalu at Waikoloa Beach Resort in Waikoloa, Hawaii
Affordable HousingDevelopmentHawaiiNewsWestern

Waikoloa Vacation Rentals to Develop Affordable Housing Community in Waikoloa, Hawaii

by Channing Hamilton

WAIKOLOA, HAWAII — Waikoloa Vacation Rentals will develop Ho’omalu at Waikoloa Beach Resort, a 229-unit affordable community in Waikoloa. Ho’omalu at Waikoloa Beach will offer one-, two- and three-bedroom floor plans, as well as amenities such as a day care, pool, fitness center, barbeque area and community center. The community will be available to households earning between 30 and 100 percent of the area’s median income. The project is listed on the county of Hawaii’s website as being currently under development, and Waikoloa Vacation Rentals plans to break ground before the end of 2024.

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The Station at Savannah Quarters in Pooler, Georgia
GeorgiaInvestment SalesNewsSoutheast

Stoneweg US Acquires 244-Unit The Station at Savannah Quarters in Savannah, Georgia Suburb

by Channing Hamilton

POOLER, GA. — Stoneweg US has acquired The Station at Savannah Quarters, a 244-unit asset located in the Savannah, Georgia suburb of Pooler. Built by Tynes Development 2019, The Station at Savannah Quarters comprises three residential buildings, a leasing center, a clubhouse, four carriage buildings and 34 garage stalls. Units come in one-, two- and three-bedroom floor plans. Stoneweg US plans to renovate the property through an ESG and value-add program, including EV chargers, installation of solar panels to the clubhouse, new pool cabanas and turf installation for cornhole toss. The …

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