Author

Channing Hamilton

Marlowe Grapevine in Grapevine, Texas
Investment SalesNewsTexas

Institutional Property Advisors Brokers Sale of 324-Unit Marlowe Grapevine Near Dallas

by Channing Hamilton

GRAPEVINE, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Marlowe Grapevine, a 324-unit community in the Dallas suburb of Grapevine. Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill and Shelby Clark of IPA represented the sellers, Greystar and Carlyle, and procured the buyer, Equity Residential. Marlowe Grapevine was built in 2023 on 15 acres. The garden-style community rises three stories. Amenities include an outdoor fitness center, pool, private garages and a jogging trail. The average unit size is 940 square feet. …

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1201 Connecticut Ave. NW. in Washington, D.C.
DevelopmentInvestment SalesNewsNortheastWashington, D.C.

JLL Capital Markets Arranges $21.5 Million Sale of Office Building in Washington, D.C., for Multifamily Conversion

by Channing Hamilton

WASHINGTON, D.C. — JLL Capital Markets has arranged the sale of an office building in the Dupont Circle neighborhood of Washington, D.C. Located at 1201 Connecticut Ave. NW., the 12-story building comprises 190,385 square feet of office space. An affiliate of Duball purchased the community for $21.5 million, with plans to convert the development to a 161-unit community. Once converted, the property will also offer ground-floor retail space and rooftop amenity space, including a pool. A development timeline for the project was not disclosed. Tom Hall, Matt Nicholson, Kevin Byrd, …

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ArizonaDevelopmentLeasing & MarketingNewsWestern

CIM Group Opens 23-Unit Property in Los Angeles

by Channing Hamilton

LOS ANGELES — CIM Group has opened a six-story, 23-unit building located at 2599 Alsace Ave. in the West Adams neighborhood of Los Angeles. The community offers one- and two-bedroom units with wood-style flooring, stone counters, stainless steel appliances and in-unit washers and dryers. Select apartments offer walk-in closets and balconies. Amenities include package lockers, bike racks and storage, controlled access through a video intercom system and a 1,300-square-foot high end lounge on the ground floor.

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FinanceNewsTexas

Greystone Provides $74.6 Million Refinancing for Shannon Creek Apartments in Burleson, Texas

by Channing Hamilton

BURLESON, TEXAS — Greystone has provided a $74.6 million Fannie Mae agency loan for the refinancing of Shannon Creek Apartments, a 672-unit asset in Burleson, approximately 16 miles south of Fort Worth. Avi Kozlowski of Greystone originated the nonrecourse, fixed-rate loan, which carries a five-year term, a 30-year amortization schedule and full-term interest-only payments. The borrower was not disclosed. Shannon Creek Apartments was completed in 2023. The property comprises 24 buildings. Units come in one- and two-bedroom floor plans. Community amenities include a pool, fitness center, business center, game/media room, …

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FinanceInvestment SalesMarylandNewsNortheast

Greystone, Cushman & Wakefield Broker $73.5 Million Sale of Two-Property Portfolio in Baltimore

by Channing Hamilton

BALTIMORE — Greystone and Cushman & Wakefield have jointly arranged the sale of and acquisition financing for a two-property portfolio in the Columbia suburb of Baltimore, Maryland. Olivetree Management purchased the assets for $73.5 million. The communities, Columbia Apartments and Town Center Apartments, comprise 344 units together. Both properties were 94 percent occupied at the time of sale. The transaction was financed with Fannie Mae loans totaling $57 million. Dan Sacks and Alex Basile of Greystone originated the Fannie Mae Delegated Underwriting & Servicing loans. Jorge Rosa and Anthony Liberto of Cushman & …

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Mar at Mesa Apartment Homes in San Diego, California
ColoradoInvestment SalesNewsWestern

Institutional Property Advisors Brokers Sale of 62-Unit Mar at Mesa in San Diego, California

by Channing Hamilton

SAN DIEGO, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Mar at Mesa Apartment Homes in San Diego. Chris Zorbas, Alexander Garcia Jr. and Kyle Pinkalla of IPA represented the undisclosed seller and procured the buyer, an affiliate of F&F Properties, in the transaction. The sales price was not disclosed. Mar at Mesa was built in 1988 and renovated in 2022. The community offers 62 units in one-and two-bedroom layouts. Apartments feature breakfast bars, dishwashers, large closets, patios and balconies. Amenities …

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EDEN at Kendall West in Jacksonville, Florida
Build-to-RentDevelopmentFloridaLeasing & MarketingNewsSoutheast

EDEN Living Delivers 265-Unit Build-to-Rent Community in Jacksonville, Florida

by Channing Hamilton

JACKSONVILLE, FLA. — EDEN Living has completed EDEN at Kendall West, a 265-unit build-to-rent community in Jacksonville. The community is situated on 20 acres at 9105 Tredinick Pkwy. EDEN at Kendall West offers 193 single-story units and 72 two-story townhomes. Units come in one-, two- and three-bedroom layouts and range from 700 to 1,300 square feet. Each residence features a private backyard. The townhomes also include private garages. Community amenities include a clubhouse, fitness center, pool, dog grooming station, dog park, walking trails and clubroom. Leasing and resident move-ins have …

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The Monarch in Queens
DevelopmentNew YorkNewsNortheast

BRP Cos. Completes 605-Unit The Monarch in Queens

by Channing Hamilton

NEW YORK CITY — Locally based developer BRP Cos. has completed The Monarch, a 605-unit community in the Jamaica neighborhood of Queens. The project broke ground in January 2021. The building rises 25 stories and spans 542,000 square feet. The Monarch comprises 498 one-bedroom and 107 two-bedroom apartments. Of the total unit count, 182 are reserved for households earning between 80 and 130 percent of the area median income. Units feature individual washers and dryers, stainless steel appliances and floor-to-ceiling windows. The property also includes 14,000 square feet of retail …

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FinanceNewsSoutheastTennessee

Eastern Union Secures $13 Million Refinancing for Garden View Apartments in Memphis, Tennessee

by Channing Hamilton

MEMPHIS, TENN. — Eastern Union has secured a $13 million loan for the refinancing of Garden View Apartments, a 156-unit community located at 1033 and 1087 Whitaker Drive in Memphis. Built in 1963, the property comprises 15 buildings spanning 131,000 rentable square feet. The unit mix includes 60 one-bedroom and 96 two-bedroom residences. Motti Blau and Mendy Pfeifer of Eastern Union arranged the financing on behalf of the borrower. Bellco Federal Credit Union provided the 30-year loan, which carries a 7.3 percent interest rate. Dov Bakon of Eastern Union served …

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The Residences at OAK in Oklahoma City
Leasing & MarketingNewsOklahomaTexas

Mintwood Real Estate Begins Pre-Leasing Efforts for 320-Unit The Residences at OAK in Oklahoma City

by Channing Hamilton

OKLAHOMA CITY — Mintwood Real Estate has begun pre-leasing for The Residences at OAK, a 320-unit community in Oklahoma City. The Residences at OAK features studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, children’s playroom, pool and elevated courtyards. The first move-ins are slated for late August. Greystar will manage the property.  The community is situated within OAK, a 20-acre mixed-use district currently under development by Veritas Development. In addition to The Residences at OAK, Phase I of OAK will comprise 135,000 square feet of retail …

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