Author

Channing Hamilton

700 North 4th Street, a high-rise building in Phoenix.
ArizonaInvestment SalesNewsWestern

Weidner Apartment Homes Acquires 700 North 4th Street in Phoenix

by Channing Hamilton

PHOENIX — Weidner Apartment Homes has acquired 700 North 4th Street, a 27-story, 234-unit luxury multifamily asset in Phoenix. Steve Gebing, Cliff David and Peter Katz of Institutional Property Advisors (IPA) represented the undisclosed seller and procured the buyer. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Jesse Zarouk led the IPA Capital Markets team that arranged acquisition financing. 700 North 4th Street offers studio, one-, two- and three-bedroom apartments, as well as amenities such as a fitness center, pool and spa, demonstration kitchen with bar seating, and collaborative and private …

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Artesia in Everett, Washington
Investment SalesNewsWashingtonWestern

RISE Properties Trust Sells Artesia in Suburban Seattle for $61.6 Million

by Channing Hamilton

EVERETT, WASH. — MG Properties has purchased Artesia, a 192-unit apartment property in the Seattle suburb of Everett, from RISE Properties for $61.6 million. Giovanni Napoli Philip Assouad, Ryan Harmon, Nicholas Ruggiero and Anthony Palladino of Institutional Property Advisors (IPA) represented the seller and procured the buyer. IPA Capital Markets team Brian Eisendrath, Cameron Chalfant, Jake Vitta and Tyler Johnson arranged the acquisition financing. Built in 1990 and updated between 2018 and 2022, Artesia’s units feature quartz countertops, stainless steel appliances, tile fireplace surrounds and reclaimed wood mantles.

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Summit Square Apartments in Lee's Summit, Missouri
Investment SalesMidwestMissouriNews

Avanti Residential Acquires $80 Million Summit Square Apartments Near Kansas City, Missouri

by Channing Hamilton

LEE’S SUMMOT, MO. — Avanti Residential has purchased Summit Square Apartments from NorthPoint Development for $80 million. Built in 2018, Summit Square is a 308-unit community in the Kansas City, Missouri suburb of Lee’s Summit. According to Apartments.com, the property offers one- and two-bedroom floor plans, as well as amenities such as a fitness center, car wash, pool, clubhouse, a lounge and media center. Mac Crowther and Whittaker Potts of Newmark represented NorthPoint Development in the transaction.

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Abberly Royal Creek in Fuquay-Varina, North Carolina
DevelopmentNewsNorth CarolinaSoutheast

HHHunt Breaks Ground On $62.7 Million Abberly Royal Creek Near Raleigh, North Carolina

by Channing Hamilton

FUQUAY-VARINA, N.C. — HHHunt Corp. has broken ground on Abberly Royal Creek, a 250-unit community in the Raleigh, North Carolina suburb of Fuquay-Varina. Abberly Royal Creek will offer one-, two- and three-bedroom floor plans, as well as amenities such as a fitness center, a business lounge, a pool with a tanning shelf, dog park, pet spa and smart home technology from ADT Security in every unit. Each building will rise four stories. HHHunt’s investment in the project is expected to total $62.7 million.

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he Enclave at Deer Moss Creek in Niceville, Florida
DevelopmentFloridaNewsSoutheast

FaverGray Breaks Ground on The Enclave at Deer Moss Creek in Niceville, Florida

by Channing Hamilton

NICEVILLE, FLA. — FaverGray has begun development of The Enclave at Deer Moss Creek, a 303-unit community in Niceville, 10 miles north of Destin, Florida. The Enclave at Deer Moss Creek comprises eleven buildings across 18 acres. Amenities include a clubhouse, a pool, gas fire pits, an outdoor kitchen, two dog parks, two playgrounds and a mail kiosk. The complex is set to be available to residents in 2024. HEDK is serving as the architect for the project. Jenkins Engineering is providing civil engineering services. Jordan & Skala Engineers is …

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The Somerset in Winthrop, Massachusetts.
DevelopmentMarket ReportsMassachusettsNortheastOperations

Why Apartment Investors Remain So Bullish On Boston 

by Channing Hamilton

Commercial developers don’t receive the same sunny embrace in Boston compared with other booming multifamily markets to the south. NIMBYism exists everywhere, but developers face a litany of objections and roadblocks to new construction in Beantown. Labor unions, antiquated zoning practices and a scarcity of development sites are some of the barrier-to-entry culprits. In this challenging climate, Boston multifamily is typically summarized by one word: undersupplied. A modest amount of new development combined with strong renter demand ensures most properties will achieve rent growth and occupancy levels that investors like …

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Atelier Dallas in Dallas, Texas
DevelopmentFinanceNewsTexas

ZOM Living Secures $109 Million Refinancing for Atelier Dallas in Dallas Arts District

by Channing Hamilton

DALLAS — ZOM Living has secured a $109 million refinancing for Atelier Dallas, a residential tower in Dallas’ Arts District. Atelier Dallas broke ground in 2018 and was designed by architecture firm Stantec. The building comprises 10 penthouses, 53 lofts and 364 high-rise units. Amenities include a pool, yoga lawn, outdoor lounge with a grilling area, fitness center, co-working space, wine lockers and a pet spa. The property also offers 15,000 square feet of retail space and two levels of underground public parking. Atelier Dallas is located in walking distance …

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Tuscany Bay in Lawrenceberg, Indiana.
FinanceIndianaInvestment SalesMidwestNews

Revitate Cherry Tree Acquires Tuscany Bay Near Cincinnati, Closes Fund Activity With $110 Million Portfolio

by Channing Hamilton

LAWRENCEBERG, IND. — Revitate Cherry Tree has acquired Tuscany Bay, a 96-unit property in Lawrenceburg, approximately 26 miles west of Cincinnati. Built in 1999, Tuscany Bay offers two- and three-bedroom floor plans, as well as amenities such as a clubhouse, pool, playground, TV room and fitness center. The property is located 17 miles from the Amazon Air Hub, a $1.5 billion air cargo facility at the Cincinnati/Northern Kentucky International Airport. With the acquisition of Tuscany Bay, Revitate Cherry Tree has completed investment in its multifamily fund with a $110 million portfolio comprising 841 …

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NewsPeople NewsSoutheastTennessee

JLL Capital Markets Adds Lee Harris to Nashville, Tennessee Team

by Channing Hamilton

NASHVILLE, TENN. — JLL Capital Markets has selected Senior Director Lee Harris to join its multifamily team in Nashville. In this role, Harris will work alongside Senior Managing Director Brian Dawson on agency debt, as well as providing capital stack solutions to multifamily, mixed-use and MHC clients. Prior to joining JLL, Harris served as a Director at Greystone. He also held positions at RED Capital Group and Lument. Harris earned his degree from the University of Southern California.

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Moontower in Phoenix, Arizona.
ArizonaDevelopmentNewsWestern

LV Collective, Cross Harbor Capital Partners Begins Leasing Moontower in Phoenix

by Channing Hamilton

PHOENIX — LV Collective and Cross Harbor Capital Partners have begun leasing Moontower, a 326-unit project in Phoenix’s Roosevelt Row art district. JE Dunn is the general contractor for the project. Arvest Bank is providing the debt. Shepley Bullfinch is serving as architect and Michael Hsu Office of Architecture is providing interior design services. Greystar is leasing the property.  Moontower offers studio, one- and two-bedroom floor plans with rents starting at $1,790 per month. Community amenities include a coffee and cocktail bar, fitness center, rooftop pool deck, co-working and conference …

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