Author

Channing Hamilton

Solana at Duarte Station
CaliforniaDevelopmentLeasing & MarketingNewsWestern

MBK Rental Living Opens 292-Unit Community in Duarte, California

by Channing Hamilton

DUARTE, CALIF. — MBK Rental Living has opened Solana at Duarte Station, a five-story asset located at 1740 Fasana Road in Duarte, 20 miles northeast of Los Angeles. The community offers 292 units in studio, one-, two-, three- and four-bedroom floor plans. Apartments range from 534 square feet to 2,802 square feet. Select units feature private patios or balconies and walk-in closets. Tenants have access to shared amenities such as a clubhouse, fitness center and yoga studio, coworking spaces, a pool, game lounge, cabana club and dog lounge, spa and park. …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentLeasing & MarketingNews

Marquette Cos. Begins Leasing 300-Unit Community in Houston Suburb

by Channing Hamilton

THE WOODLANDS, TEXAS — Marquette Cos., an Illinois-based developer, has begun leasing The Sylvan, a 300-unit property located about 30 miles north of Houston in The Woodlands. Marquette Cos. broke ground on the project in October 2023. The Sylvan consists of 112 apartments and 188 single-family rental units and townhomes. Amenities include a clubhouse, pool, fitness center and walking paths. Single-family homes come in three- and four-bedroom floor plans, range from 1,495 to 1,805 square feet and include private yards and garages. Townhome-style units come in two- and three-bedroom layouts …

Continue Reading
0 FacebookTwitterLinkedinEmail
Solace Apartments in Virginia Beach
Investment SalesNewsSoutheastVirginia

Bonaventure Purchases 250-Unit Community in Virginia Beach

by Channing Hamilton

VIRGINIA BEACH, VA. — Bonaventure has acquired Solace Apartments, a 250-unit property located at 400 S. Military Highway in Virginia Beach, 18 miles east of Norfolk, Virginia. Built in 2014, Solace offers one- and two-bedroom apartments. Amenities include a pool, fitness center, grilling stations and a community clubhouse. The acquisition was made as an UPREIT transaction, an investment strategy where property owners contribute real estate to a REIT’s operating partnership in exchange for ownership interest in that partnership. Robert Prodan served as a contributor with Bonaventure’s REIT, Bonaventure Multifamily Income …

Continue Reading
0 FacebookTwitterLinkedinEmail
Museum Parc
DevelopmentFinanceNew JerseyNewsNortheast

Co-Developers Secure $120 Million in Construction Financing for New Jersey Mixed-Income Project

by Channing Hamilton

NEWARK, N.J. — Co-developers LMXD and MCI Collective have received $120 million in construction financing for Museum Parc, a 250-unit mixed-income, mixed-use development located in downtown Newark. Merchants Capital arranged the financing, which consists of a $58 million Freddie Mac nine percent low-income housing tax credit forward permanent loan and a $62 million construction loan from Merchants Bank. Museum Parc will consist of a six-story building and a 12-story structure. Twenty percent of the residences at Museum Parc will be income-restricted. Forty-five units will be reserved for households earning at …

Continue Reading
0 FacebookTwitterLinkedinEmail
Sharon Géno
FeaturesNortheastOperationsWashington, D.C.

NMHC: High Insurance Costs Worsen U.S. Housing Affordability Crisis

by Channing Hamilton

WASHINGTON, D.C. — Rising insurance costs are standing in the way of building more affordable housing. According to a survey from the National Multifamily Housing Council (NMHC), about 77 percent of owner/developer firms reported rate increases of up to 20 percent or more compared with 2023 costs. NMHC’s 2024 State of Multifamily Risk Report attributes the high costs to a variety of factors, including increased cost valuation, limited capacity within the reinsurance market, shrinking underwriting capacity and restricted availability of guaranteed cost/zero deductible programs.  Previous NMHC research, such as the 2023 State of …

Continue Reading
0 FacebookTwitterLinkedinEmail
IllinoisInvestment SalesMidwestNews

Eastham Capital Sells Community in Suburban Chicago for $10 Million

by Channing Hamilton

CHICAGO RIDGE, ILL. — Eastham Capital has sold Ridgeland Station, an 84-unit community in Chicago Ridge, about 20 miles southwest of downtown Chicago, to an undisclosed seller for $10 million. Eastham acquired the asset for the Eastham Capital Fund V LP in partnership with Bender Cos. in 2019. The acquisition of Ridgeland Station marked the first collaboration between Eastham and Bender. The average rent at the property increased 9.7 percent year over year under Bender’s management. The community consists of a mix of one- and two-bedroom units. Ridgeland Station was …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentLeasing & MarketingNewsNorth CarolinaSoutheast

Joint Venture Opens 336-Unit Community in Morrisville, North Carolina

by Channing Hamilton

MORRISVILLE, N.C. — A joint venture between Crescent Communities and GID has opened Novel Morrisville, a 336-unit community located at 218 Southport Drive in Morrisville, roughly 15 miles west of Raleigh, North Carolina. The property offers a mix of studio, one-, two- and three-bedroom floor plans, as well as 10 carriage-style townhomes. Units range from 532 square feet to 2,128 square feet. Amenities include a saltwater pool with cabanas, two-story fitness center, community library, clubroom, full-scale indoor rock-climbing wall, walking and biking trails and an on-site Land of a Thousand …

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaLeasing & MarketingNewsOperationsWestern

29th Street Living Appointed Property Manager of 188-Unit Community in Las Vegas

by Channing Hamilton

LAS VEGAS — 29th Street Living, the property management division of Chicago-based 29th Street Capital, has taken over management services for The Willows at Town Center, a 188-unit community in Las Vegas. Located at 9145 Echelon Point Drive, the property offers one-, two- and three-bedroom apartments. According to Apartments.com, monthly rates start at $1,479 for a one-bedroom unit. Community amenities include a pool, business center, dog park, fitness center with yoga studio, package lockers and controlled access.

Continue Reading
0 FacebookTwitterLinkedinEmail
Jefferson Morningstar in The Colony, Texas
DevelopmentNewsTexas

JPI Breaks Ground on 373-Unit Development in The Colony, Texas

by Channing Hamilton

THE COLONY, TEXAS — JPI has broken ground on Jefferson Morningstar, a 373-unit project in The Colony, about 25 miles north of downtown Dallas. The garden-style property will offer studio, one-, two- and three-bedroom apartments. Residents will have access to amenities such as a pool, fitness center, dog park, coworking spaces and a clubhouse. The first units are expected to be available for occupancy by early 2027. JPI is partnering with Nomura Real Estate Development Co. Ltd. and Yoram Avneri, the original owner of the land, on the project.

Continue Reading
0 FacebookTwitterLinkedinEmail
Hub in New York City
FinanceInvestment SalesNew YorkNewsNortheast

Walker & Dunlop Arranges Recapitalization for $420 Million Apartment Tower in Brooklyn

by Channing Hamilton

NEW YORK CITY — Walker & Dunlop has arranged the recapitalization of Hub, a 55-story rental tower in downtown Brooklyn. The borrower, Steiner NYC, bought out a majority stake in the high-rise asset from its equity partner, J.P. Morgan Asset Management (JPMAM), giving the company full ownership. The sales price was not disclosed, but Walker & Dunlop stated that the transaction was done at a valuation of $420 million for the tower. Located at 333 Schermerhorn St., Hub comprises 750 units in studio, one- and two-bedroom layouts. The building was …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.