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Channing Hamilton

Laurel Hill Apartments in Shelby, North Carolina
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Standard Communities Acquires Affordable Laurel Hill Apartments in Shelby, North Carolina

by Channing Hamilton

SHELBY, N.C. — Standard Communities has acquired Laurel Hill Apartments, a 100-unit affordable housing complex in Shelby, about 45 miles west of Charlotte, North Carolina. The asset traded hands for $16.4 million. The North Carolina Housing Finance Agency provided Low Income Housing Tax Credits for the deal. Fannie Mae and Regions Bank also provided financing. The public-private partnership also included HUD. Built in 1974, Laurel Hill Apartments offers one-, two- and three-bedroom apartment units. Income restrictions for the community were not disclosed. Standard Communities plans to invest $100,000 per unit …

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2868 Webster Ave. in New York City
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Douglaston Development Secures $190 Million Construction Financing for Affordable Housing Project in the Bronx

by Channing Hamilton

NEW YORK CITY — Douglaston Development has secured construction financing for a $190 million affordable housing project located in the Bedford Park neighborhood of the Bronx. Once completed, the 12-story building will offer 277 apartment units to households earning up to 70 percent of the area median income. Sixty units will be set aside as supportive units. Located at 2868 Webster Ave., the property will offer studio, one-, two- and three-bedroom floor plans. Community amenities will include laundry facilities, a fitness center, green roofs and on-site parking. The Jericho project …

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Boston East in Boston
Investment SalesMassachusettsNewsNortheast

CBRE Arranges Sale of 200-Unit Boston East in Boston

by Channing Hamilton

BOSTON — CBRE has arranged the sale of Boston East, a 200-unit community located in the East Boston neighborhood of Boston. Los Angeles-based American Realty Advisors sold the property to the real estate business at Goldman Sachs Alternatives for an undisclosed price. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE brokered the deal. Boston East was built in 2018. The building rises six stories. Community amenities include a clubroom with meeting space, sky lounge and terrace, fitness center, community arts space, outdoor firepit grilling stations and …

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Toscana Apartment Homes in Austin, Texas
Affordable HousingInvestment SalesNewsTexas

Comunidad Partners Acquires 358-Unit Toscana Apartment Homes in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — Locally-based investment firm Comunidad Partners has acquired Toscana Apartment Homes, a 358-unit affordable housing community in Austin. Toscana Apartment Homes was built in 2001. The property is reserved for households earning between 60 and 120 percent of the area median income. Units come in one-, two-, and three-bedroom floor plans. Amenities include a pool, playground and a pet park. Comunidad Partners plans to implement a capital improvement program that elevates common areas and living spaces, including installing a pickleball court and adding private yards. The seller and …

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Lorimer House in Brooklyn
FinanceNew YorkNewsNortheast

JLL Capital Markets Arranges $173 Million Bridge Financing for Lorimer House in Brooklyn

by Channing Hamilton

NEW YORK CITY — JLL Capital Markets has negotiated $173 million in bridge financing for Lorimer House, a 270-unit community in the South Williamsburg neighborhood of Brooklyn. JLL worked on behalf of the borrowers — a joint venture between The Loketch Group, The Joyland Group and Meral Property Group — to secure the financing through TPG Real Estate Credit. Aaron Niedermayer and Ethan Stanton led the JLL Capital Markets team. Lorimer House rises eight stories at 28 Boerum St. The property offers studio, one- and two-bedroom units. Select units feature …

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Jonathan Treble, Founder and CEO of WithMe Inc.
Industry VoicesMidwestNortheastOperationsSoutheastTechnologyTexasWestern

Amenities Anchor Communities, Foster Live-Work-Play Environment

by Channing Hamilton

— By Jonathan Treble, Founder and CEO of WithMe Inc. In today’s multifamily landscape, amenities play a pivotal role that goes beyond attracting and retaining prospective residents. The right amenity package can enhance residents’ daily experience, nurture a thriving sense of community and ultimately increase the asset’s overall value. By thoughtfully outfitting an asset with the right amenities, property owners and operators can cater to today’s renters’ live-work-play and remote-work lifestyles. Modern Renters Desire “Third Spaces” Post-pandemic, the traditional boundaries between home, office and social spaces have blurred. Remote and …

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The Bold in Queens
DevelopmentNew YorkNewsNortheast

American Lions Begins Leasing 164-Unit The Bold in Queens

by Channing Hamilton

NEW YORK CITY — American Lions, a joint venture between locally based developers Fetner Properties and Lions Group, has begun leasing The Bold. The building rises 28 stories and is located at 2701 Jackson Ave. in the Long Island City area of Queens. The Bold comprises 164 apartments in studio, one-, two- and three-bedroom layouts. Of the total unit count, 50 have been set aside as affordable housing. Income restrictions for these units were not disclosed. Amenities include a coworking lounge, gym with a climbing wall, party room with a …

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Buckley Apartments in Plano, Texas
Investment SalesNewsTexas

Rosewood Property Co. Breaks Ground on 338-Unit Buckley Apartments in Plano, Texas

by Channing Hamilton

PLANO, TEXAS — Rosewood Property Co. has begun construction on The Buckley, a 338-unit community in the northern Dallas suburb of Plano. The Buckley is the sister property of The Ludlow, which began leasing in September 2023. Both properties are located within the 156-acre Heritage Creekside master-planned development. The Buckley will offer studio, one-, two- and three-bedroom units. Amenities include a pool, multiple lounge areas, a club and card room, fitness center, coworking areas and a dog park. MetLife Investment Management is the equity partner for the development. Broadway Bank …

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3ELEVEN in New York City
FinanceNew YorkNewsNortheast

Newmark, Greystone Arrange $560 Million Refinancing for 60-Story 3ELEVEN in Manhattan

by Channing Hamilton

NEW YORK CITY — Newmark Group Inc. and Greystone Capital Advisors have arranged $560 million in floating-rate debt for the refinancing of 3ELEVEN, a 60-story high-rise community located just south of Manhattan’s Hudson Yards district. Ares Management and Douglaston Development were the borrowers. Jordan Roeschlaub and Nick Scribani of Newmark, in collaboration with Jonathan Firestone, Drew Fletcher, Paul Fried and Bryan Grover of Greystone Capital Advisors, arranged the debt. The financing will repay the HSBC construction loan. 3ELEVEN comprises 938 apartments in studio through three-bedroom layouts. Community amenities include a pool with cabanas, …

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Investment SalesNewsTexas

The Multifamily Group Brokers Sale of 100-Unit The Regency in Paris, Texas

by Channing Hamilton

PARIS, TEXAS — Dallas-based brokerage firm The Multifamily Group has brokered the sale of The Regency, a 100-unit community in Paris, approximately 100 miles northeast of Dallas. Yonnic Land of TMG represented the seller and procured the buyer in the deal. Both parties requested anonymity. The Regency was built in 1985. The community offers one-, two- and three-bedroom units. Amenities include a pool, onsite laundry facilities and outdoor grilling and dining stations.

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