Author

Channing Hamilton

Soma Towers
Investment SalesNewsWashingtonWestern

Su Development Divests of Soma Towers Near Seattle for $192.8 Million

by Channing Hamilton

BELLEVUE, WASH. — Su Development has completed the sale of Soma Towers, a 273-unit property located at 288 106th Ave. NE in Bellevue. The Sobrato Organization purchased the two-tower community for $192.8 million. Eli Hanacek, Kyle Yamamoto and Mark Washington of CBRE represented the seller in the deal. Soma Tower consists of two towers, which house a mix of studio, one- and two-bedroom apartments and two- and four-bedroom penthouse suites. The property also features 29,964 square feet of commercial space across two floors that is 90 percent leased to restaurants, retail …

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Chosewood Park
Affordable HousingDevelopmentFrom the MagazinesGeorgiaMarket ReportsSoutheast

Atlanta Beltline Project Is Transforming Intown Neighborhoods

by Channing Hamilton

The need for affordable housing is palpable across the nation, and Atlanta is no exception to the rule. A 2023 report from the Georgia Department of Community Affairs found that there is an extremely inadequate supply of housing that is affordable and available for all income levels, but especially for the lowest income renter households. In 2021, Atlanta Mayor Andre Dickens established a goal to build or preserve 20,000 units of affordable housing across the city by the end of 2030. And a major contributor to these efforts is the …

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Lexington Gardens
Affordable HousingCaliforniaDevelopmentNewsWestern

EAH Housing Breaks Ground on Affordable Housing Project in West Hollywood, California

by Channing Hamilton

WEST HOLLYWOOD, CALIF. — EAH Housing has begun construction on Lexington Gardens, an affordable housing property in West Hollywood, about eight miles west of Los Angeles. Lexington Gardens offers 47 studio apartments. Studios range from 383 square feet to 447 square feet. The property also includes one two-bedroom, 869-square-foot manager’s unit. The five-story community will be available to families and individuals earning 30 percent and 60 percent of local area median income. Designed by DE Architects and built by Walton Construction, Lexington Gardens will offer amenities such as onsite vehicle and …

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11330 Brigman Road
DevelopmentNewsNorth CarolinaSoutheast

NRP Group Breaks Ground on 377-Unit Project in Matthews, North Carolina

by Channing Hamilton

MATTHEWS, N.C. — The NRP Group has broken ground on a 377-unit development located at 11330 Brigman Road in Matthews, roughly 11 miles southeast of Charlotte. The 15-acre project will offer one-, two- and three-bedroom apartments. The property will also include a pool, dog park, fitness center, business center coworking space and a retail café. The unnamed property will also include 18,900 square feet of commercial space and about 28 apartments reserved for households earning 80 percent of the area median income (AMI). The NRP Group expects to deliver the …

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The Woodlands
Investment SalesNewsTexas

Clover Capital Partners Buys 256-Unit Community in Tyler, Texas

by Channing Hamilton

TYLER, TEXAS — Clover Capital Partners has acquired The Woodlands, a 256-unit complex in Tyler, about 100 miles southeast of Dallas. BH Equities sold the asset for an undisclosed price. Built in 1984, the property offers one- and two-bedroom units and amenities such as fitness and business centers, a pool and package lockers. Taylor Hill, William Hubbard, Drew Kile, Joey Tumminello and Michael Ware of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer. Brian Eisendrath, Cameron Chalfant and Harry Krieger of IPA Capital …

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Investment SalesMidwestNewsWisconsin

Marcus & Millichap Arranges $5.8 Million Sale of Wisconsin Portfolio

by Channing Hamilton

ELLSWORTH AND BALDWIN, WIS. — Marcus & Millichap has arranged the $5.8 million sale of a 49-unit portfolio in western Wisconsin. The portfolio includes 25 apartments across five buildings in Ellsworth, 51 miles southeast of Minneapolis, and two buildings with 24 units in Baldwin, 48 miles east of Minneapolis. Scott Anderson of Marcus & Millichap represented the seller and procured the buyer. Both parties were Wisconsin-based investors.

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La Central
FinanceNew YorkNewsNortheast

Partnership Receives $343 Million in Financing for Affordable Housing Project in South Bronx

by Channing Hamilton

NEW YORK CITY — A partnership between The Hudson Cos. and BRP Cos. has received $343 million in financing for Phase II of La Central, a 420-unit affordable housing development in the South Bronx. The second phase of La Central will encompass Building C, which will consist of 166 units across 13 stories, and Building E, a 26-story building that will feature 254 units. Development on Phase II is slated to complete in 2028. Apartments will come in one-, two, three- and four-bedroom floor plans. The buildings will be reserved …

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20 63rd St.
Investment SalesNew JerseyNewsNortheast

Silicon Alley Properties Sells Six-Unit Property in West New York, New Jersey

by Channing Hamilton

WEST NEW YORK, N.J. — Silicon Alley Properties LLC has sold a six-unit multifamily property located at 20 63rd St. in West New York, about 8 miles north of New York City, for $1.2 million. The three-story building offers one-, two- and three-bedroom apartments. Three units were recently renovated. The community features garage parking and yard access. Kevin Taub of Marcus & Millichap’s New Jersey office marketed the property on behalf of the seller and procured the undisclosed buyer.

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Birchstone Waterleigh
FloridaInvestment SalesNewsSoutheast

Joint Venture Acquires 300-Unit Asset Near Orlando, Florida

by Channing Hamilton

WINTER GARDEN, FLA. — Ashcroft Capital has acquired Birchstone Waterleigh, a 300-unit asset located at 9405 Ascend Falls Drive in Winter Garden, roughly 15 miles west of Orlando, Florida. The acquisition was completed through a joint venture with Pearlmark and Temerity Strategic Partners. The sales price and seller were not disclosed. Formerly known as Ascend Waterleigh Club, the property was built in 2023. Units come in one-, two- and three-bedroom floor plans ranging from 782 to 1,563 square feet. Amenities include a pool, coworking lounge, fitness center, dog park, emergency …

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Monte Vista
ArizonaInvestment SalesNewsWestern

IPA Brokers $25.5 Million Sale of Community in Glendale, Arizona

by Channing Hamilton

GLENDALE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Monte Vista, a 208-unit community in Glendale. The property traded hands for $25.5 million. Built in 1985, Monte Vista offers a pool, laundry facility and covered parking. Each apartment features washer and dryer connections, dishwashers and walk-in closets. The average unit size is 787 square feet. Cliff David, Steve Gebing of IPA and Darrell Moffitt of Marcus & Millichap represented the private seller and procured the buyer, a workforce and affordable housing fund. 

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