Author

Channing Hamilton

Alta Cooley Station, a contemporary-style multifamily building in shades of brown.
ArizonaNewsWestern

Wood Partners Opens 248-Unit Alta Cooley Station Near Phoenix

by Channing Hamilton

GILBERT, ARIZ. — Wood Partners has opened Alta Cooley Station, a 248-unit community in Gilbert, approximately 22 miles southeast of Phoenix. Alta Cooley Station offers studio, one-, two- and three-bedroom floor plans, as well as townhomes with attached garages. Units feature stainless steel kitchen appliances, walk-in closets and in-unit washers and dryers. Community amenities include a pool with a grilling area, a fitness center and yoga studio, club room, co-working spaces, a coffee bar and a game room.

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A drawing of a whitened gray single-story home with black roofing.
ArizonaDevelopmentFinanceNewsWestern

Choice Bank Provides $33.8 Million Construction Loan for BTR Project Near Phoenix

by Channing Hamilton

GOODYEAR, ARIZ. — Blue Vista Capital Management and Family Development have obtained $33.8 million in construction financing for Villas Goodyear, a build-to-rent development in Goodyear about 19 miles west of Phoenix. The development is expected to be complete in 2024. JLL Capital Markets represented the joint venture in securing the three-year, fixed-rate loan through Choice Bank. JLL’s team was led by Brian Walsh, Brad Miner and Dave Hunter. Villas Goodyear will comprise 151 one- and two-bedroom single-story units. Amenities will include a pool, fitness center, an outdoor lounge area and …

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Investment SalesNewsTexas

Northmarq Brokers Sale of 56-Unit Encore Apartments in Victoria, Texas

by Channing Hamilton

VICTORIA, TEXAS — Northmarq’s San Antonio office has arranged the sale of Encore Apartments, a 56-unit property in Victoria, Texas, about 115 miles southeast of San Antonio. Moses Siller, Zar Haro, Bryan VanCura, Phil Grafe, Brian Booth and Stephanie Hernandez represented the seller, San Antonio-based private equity real estate company 3CM Multifamily. The buyer was undisclosed. The property was built in 1972 and comprises 14 two-story buildings. Units are offered in one-, two- and three-bedroom floor plans. Amenities at the property include covered parking, a pool and a pet park.

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Mirra, a greek revival style apartment building with a brick base.
DevelopmentFeaturesInvestment SalesTexas

Three Texas Cities Among Top 10 Markets for Multifamily Investment

by Channing Hamilton

DALLAS — Texas has earned bragging rights on the multifamily investment front. Investment firm CONTI Capital — has developed a proprietary location analysis technology platform known as the CONTI Index — lists Dallas, Houston and Austin among the top 10 strongest markets for multifamily investment in the first half of 2023.  ​Dallas-based CONTI released the rankings in January. From one to 10, the most attractive places to park apartment capital this year are as follows: (1) Dallas; (2) Atlanta; (3) Austin, Texas; (4) Charlotte, North Carolina; (5) Orlando, Florida; (6) Tampa, Florida; (7) Houston; (8) …

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A construction site with the wood frames of several buildings in progress.
DevelopmentNevadaNewsWestern

Lewis Apartment Communities Breaks Ground on 306-Unit Development in Sparks, Nevada

by Channing Hamilton

SPARKS, NEV. — Lewis Apartment Communities, a development and management firm based out of Upland, California, has broken ground on Homecoming at Kiley Ranch in Sparks. Homecoming at Kiley Ranch will be a gated-access community. The development includes 306 apartment and townhome units and will feature amenities such as a clubhouse with fitness center and package lockers, a pool, barbeques, firepits, playground, dog park and EV chargers. Apartments offer one-, two-, three- and four-bedroom floor plans featuring balconies or patios, washers and dryers, walk-in closets and stainless-steel kitchen appliances. Townhomes …

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Interport's great room, a modern farmhouse style space with an exposed beam and joist ceiling.
DevelopmentNewsTexas

Greystar Breaks Ground on 396-Unit Community Near Tesla Gigafactory in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — Greystar Real Estate Partners has broken ground on Interport, a new garden-style community located approximately one mile from Tesla’s Austin Gigafactory and global headquarters. Once completed, Interport will comprise 396 units in studio, one-, two- and three-bedroom units. Outdoor amenities will include a dog park, beer garden, pool, outdoor kitchen and lounge, pickleball court, fitness lawn, community garden and EV chargers. Preleasing will begin in late 2023, and the first units are expected to be delivered in early 2024.

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The pool at Spice Creek, surrounded by black metal fending and brown and gray low-rise buildings with black roofing.
Investment SalesNewsTexas

Harbor Group International Acquires 828-Unit Portfolio in San Antonio

by Channing Hamilton

SAN ANTONIO — Harbor Group International has acquired a three-property portfolio totaling 828 units in San Antonio from Texas-based Multifamily Acquisition Advisors and Irvine, California-based Blackhawk Property Holdings. The sale was brokered by Newmark, with Senior Managing Director Matt Michelson representing the sellers. Executive Managing Directors Henry Stimler, William Weber and Matt Mense, Senior Managing Director Ari Schwartzbard and Vice President Daniel Sarsfield arranged a loan on behalf of HGI through Freddie Mac. The assets sold for an undisclosed price. The portfolio includes three garden-style properties: Spice Creek, The Clara …

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The leasing office at Springs at Alamo Ranch, a half stone and half green siding building.
Investment SalesNewsTexas

MLG Capital Acquires 232-Unit San Antonio Asset

by Channing Hamilton

SAN ANTONIO — Brookfield, Wisconsin-based real estate investment firm MLG Capital has acquired Springs at Alamo Ranch in San Antonio. Springs at Alamo Ranch comprises 227,000 square feet and 232 studio, one-, two- and three-bedroom townhome style units. Amenities at the gated-access community include a pool, fitness center and dog park. MLG Capital plans to rebrand the property as Reata Alamo Ranch. According to Apartments.com, monthly rental rates range from $1,076 to $2,654.

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Orchard at Hilltop, a three-building multifamily building atop a hill.
Affordable HousingCaliforniaDevelopmentNewsWestern

Affirmed Housing Completes $54.9 Million Mixed-Use Development in San Diego

by Channing Hamilton

SAN DIEGO — Affirmed Housing has opened The Orchard at Hilltop, a mixed-use urban infill development in San Diego’s Chollas View neighborhood. The total cost for the development of the project was approximately $54.9 million. The development was financed in part with HOME Investments Partnerships Grant funds provided to the City of San Diego by the U.S. Department of Housing and Urban Development. Additional financing was provided by Civic Communities, Boston Financial, Boston Capital Finance, Western Alliance Bank, the San Diego Housing Commission, the City of San Diego, the California …

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Dwell Apartments, a white two-story multifamily building with bright orange accents.
ArizonaInvestment SalesNewsWestern

Avanti Residential Sells Dwell Apartment Homes in Scottsdale, Arizona, for $41.6 Million

by Channing Hamilton

SCOTTSDALE, ARIZ. — Avanti Residential has sold Dwell Apartment Homes in Scottsdale to 29th Street Capital for $41.6 million. Steve Gebing and Cliff David with Institutional Property Advisors (IPA) represented Avanti Residential in the transaction. Dwell Apartment Homes was built in two phases in 1963 and 1975. The community offers 193 studio, one- and two-bedroom units, as well as amenities such as three pools, a fitness center, a clubhouse and a courtyard with a barbeque area. The new owners plan to renovate 78 percent of the units.

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