Author

Channing Hamilton

Lake Taylor Pointe Apartments
DevelopmentNewsSoutheastVirginia

Breeden Completes $43 Million Project in Norfolk, Virginia

by Channing Hamilton

NORFOLK, VA. — The Breeden Co. has completed Lake Taylor Pointe Apartments, a 198-unit community located at 1060 Kempsville Road in Norfolk. The property offers carriage house and garden-style buildings. Units come in one-, two- and three-bedroom floor plans ranging from 723 square feet to 1,425, according to Apartments.com. Amenities include a pool, poolside fitness center, outdoor gathering areas, arcade room, electric vehicle charging stations and a bark park. Rental rates for the property begin at $1,750. Breedon Construction served as the general contractor for the $43 million development.

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The 104
FinanceNewsWashingtonWestern

MainStreet Property Group Receives $19 Million in Refinancing for 115-Unit Community in Bothell, Washington

by Channing Hamilton

BOTHELL, WASH. — MainStreet Property Group has secured a $19 million loan for the refinancing of The 104 in Bothell, roughly 20 miles northeast of Seattle. Seth Heikkila and Bill Maloney of JLL Capital Markets Debt Advisory team secured the five-year, fixed-rate loan through Fannie Mae. JLL Real Estate Capital LLC will service the loan. The 104 features 115 apartments in one- and two-bedroom floor plans, averaging 773 square feet. Units feature stainless steel appliances, walk-in closets and exposed concrete details. Amenities include a lounge with kitchen, a community courtyard, …

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The Links on PGA Parkway
DevelopmentFinanceNewsTexas

Carbon Cos., Greenway Receive $125 Million in Construction Financing for Project in Frisco, Texas 

by Channing Hamilton

FRISCO, TEXAS — Carbon Cos. and Greenway Investment Co. have received roughly $125 million in construction financing for The Links on PGA Parkway, an apartment community located about 30 miles north of Dallas in Frisco. The debt, which was arranged by the Carbon Cos. internal team, will be used to complete the construction of the final two phases of the four-phase, 38-acre development. The financing includes a syndicated bank loan facility and mezzanine loan. Origin Bank arranged the syndicated bank loan, with participant banks including Simmons Bank, North Dallas Bank …

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Andrew Leahy, IPA
CaliforniaInvestment SalesNewsPeople NewsWestern

IPA Appoints National Director of Multifamily

by Channing Hamilton

CALABASAS, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has hired Andrew Leahy as senior vice president and national director of IPA’s multifamily division. In this role, Leahy will lead IPA advisory teams across North America. Previously, he led investments for Elme Communities. He has also served with the Rockefeller Group, where he led acquisitions throughout the United States on behalf of domestic and global private equity investors. Leahy began his career as an analyst at The Blackstone Group.

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Todd Sears, The Annex Group
IndianaMidwestNews

The Annex Group Hires Todd Sears as Chief Operating Officer

by Channing Hamilton

INDIANAPOLIS — The Annex Group has hired Todd Sears as Chief Operating Officer (COO). In this role, Sears will lead the development, construction and property management teams within the Indianapolis-based company. Sears has more than three decades of experience in real estate and finance leadership. He also serves as an adjunct faculty member of Butler University’s Lacy School of Business. CJ Lukaart, who previously served as COO, will also transition to become Chief Legal and Administrative Officer. He will lead the company’s legal, HR, IT and marketing teams.

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Investment SalesNew JerseyNewsNortheast

Tower Management Secures $24.2 Million Acquisition Financing for Asset in North Bergen, New Jersey

by Channing Hamilton

NORTH BERGEN, N.J. — Tower Management has received $24.2 million in financing for the acquisition of Hudson Ridge Apartments, a 215-unit asset in North Bergen. The property is situated at 7112-7312 Blvd. E, about eight miles north of New York City.  Built in 1949, Hudson Ridge Apartments offers a mix of studio, one- and two-bedroom units. Apartments include hardwood flooring, stainless steel appliances and oversized closets. Residents have access to outdoor amenities such as picnic areas and garage parking. Thomas Didio, Thomas Didio Jr., Gerard Quinn and Michael Mataras of …

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DevelopmentNewsTexas

Partnership Buys 226-Unit Complex in DeSoto, Texas

by Channing Hamilton

DESOTO, TEXAS — A partnership between RSN Property Group and Monday Properties has acquired Ventura Landings, a 226-unit asset located DeSoto, about 16 miles south of Dallas. Ventura Landings offers one- and two-bedroom units. Amenities include a pool, clubhouse, basketball court and on-site laundry facilities. The property was recently renovated. The new ownership plans to implement additional capital improvements and has already rebranded the property as Eagle Creek Landing. The seller and sales price were not disclosed. 

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Maeve
DevelopmentNewsNorth CarolinaSoutheast

Capital Square Opens 20-Story Apartment Tower in Raleigh, North Carolina

by Channing Hamilton

RALEIGH, N.C. — Capital Square has opened Maeve, a 20-story apartment tower located at 319 W. Lenoir St. in Raleigh’s Warehouse District. Maeve consists of 297 units in studio, one-, two- and three-bedroom floor plans. The high-rise community also features approximately 10,000 square feet of street-level retail space, a double-height lobby and 30,000 square feet of amenities, including a pool and rooftop lounge. Greystar is managing the community. York Properties is overseeing the tower’s retail leasing assignment. Project partners for Maeve included JDAVIS Architects, general contractor W.M. Jordan Co., landscape …

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21 West
DevelopmentFinanceNewsNortheastPennsylvania

Joint Venture Secures $67 Million Construction Financing for 21 West in Pittsburgh

by Channing Hamilton

PITTSBURGH — A joint venture between Oxford Development Co. and RDC has received a $67 million construction loan for 21 West, a 291-unit project in Pittsburgh. Nick Unkovic and Zach Barone of JLL Capital Markets arranged the four-year floating rate construction loan through Dollar Bank. A construction timeline was not disclosed. Located at 430 W General Robinson St., the project will comprise 313,000 square feet across 11 stories. Units will come in studio, one- and two-bedroom floor plans. Residents will have access to amenities such as a sky bar on …

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The Liberty
Investment SalesMidwestMinnesotaNews

The Goodman Group Buys $59 Million Asset in Suburban Minneapolis

by Channing Hamilton

GOLDEN VALLEY, MINN. — Chaska, Minnesota-based The Goodman Group has bought The Liberty, a 242-unit asset in Golden Valley, roughly seven miles west of Minneapolis. An entity related to the Schachtman family sold the property for $59.5 million. Abe Roberts of Marcus and Marcus & Millichap’s Minneapolis office represented the seller and procured the buyer. Completed in 2017, The Liberty offers 55 townhomes and 187 apartments. Units range from 568 square feet to 1,536 square feet and include full size washers and dryers, stainless-steel appliances and balconies. The community also …

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