OMAHA, NEB. — Colliers Mortgage has provided a $29.9 million Fannie Mae loan for the refinancing of Highline Apartments, a 306-unit complex in Omaha. Brett Olson and Jeff Witt of Colliers Mortgage originated the 10-year loan, which features interest-only payments for the full term. Highline Apartments consists of two buildings connected by a covered parking garage. Community amenities include rooftop decks, basketball courts, a business center, fitness center, outdoor pool and clubhouse.
WASHINGTON, D.C. — The Biden administration has called on Congress to pass rent-control legislation that would affect more than 20 million rental homes across the country. Under the proposed rule, landlords with more than 50 units in their portfolios would forfeit federal tax breaks if they raise rents annually more than 5 percent on their existing units. If passed, this rule would be in force beginning this year and would last through 2026. The plan would include an exception for new construction and for units currently undergoing substantial renovation or …
TULSA, OKLA. — A public-private partnership consisting of Pennrose and the Tulsa Housing Authority will develop 36N, a $190 million mixed-income project in Tulsa. The partnership will redevelop the existing property at the site, a 271-unit community called Comanche Park Apartments, and construct an additional 274 units from the ground up. Once completed, 36N will comprise 545 apartments. The development is part of a larger revitalization initiative known as Envision Comanche. The project will also feature single-family homes, as well as a grocery store, urban farm and dedicated wilderness area. Vertical …
PLANO, TEXAS — Greensboro, North Carolina-based Bell Partners has acquired Gateway Crossing Apartments, an 831-unit community in Plano. Daniel Baker of CBRE brokered the deal. The seller and sales price were not disclosed. Gateway Crossing Apartments was built in phases between 2013 and 2017. The community features one-, two- and three-bedroom apartments with an average size of 950 square feet. According to Apartments.com, the property features amenities such as a fitness center, clubhouse, game room, lounge, media center, pet play area, business center, multiple pools and outdoor grilling and dining …
— By Mike Branam, director of multifamily, PointCentral Renters increasingly desire smart technology features and personalized automation that can save time, money and improve property security. A 2022 survey from Rent.com reported that a staggering 82 percent of renters wanted at least one smart device in their home. This has encouraged property owners and operators to invest in technology as part of a wider strategy to both attract and retain a resident base that is a good fit for their communities. Technological advancements such as artificial intelligence (AI), as well …
PORTLAND, ORE. — PCCP has provided a $45 million senior loan to a joint venture between Alamo Manhattan and MetLife Investment Management for the refinancing of The Dylan, a 232-unit property in Portland. Charles Halladay and Charlie Watson of JLL Capital Markets Debt Advisory arranged the non-recourse loan. The Dylan was constructed in 2022. Located at 3883 S. Moody Ave., the community offers 19 studios, 185 one-bedroom and 28 two-bedroom units. The average unit size is 724 square feet. Amenities include communal workspaces, a fitness center, resident lounge, dog wash station, …
NEW YORK CITY — Cushman & Wakefield has arranged a $56 million loan for the refinancing of a 138-unit property located at 230 Classon Ave. in Brooklyn’s Clinton Hill neighborhood. Gideon Gil, Zach Kraft and Sebastian Sanchez of Cushman & Wakefield arranged the fixed-rate loan through QuadReal Property Group on behalf of the borrower, Quinlan Development Group. The community offers one- and two-bedroom units. Amenities include a private park, coworking lounge, gaming terrace, fitness center and outdoor grilling and dining stations.
DARIEN, CONN. — JLL has arranged $165 million in construction financing for Phase II of The Corbin District, a six-acre mixed-use development in downtown Darien. JLL Capital Markets represented the developer, locally based Baywater Properties, to secure a $102 million loan from Barings and $63 million in C-PACE financing from Counterpointe SRE. Michael Gigliotti, Evan Pariser and Robert Tonnessen led the JLL Capital Markets team that arranged the total financing package. Once complete, The Corbin District will comprise 11 buildings featuring 112 apartments, as well as 78,810 square feet of retail …
JERSEY CITY, N.J. — West Side Square Development Fund, a partnership between LanTree Developments, Altree Developments Inc., Lanterra Developments Inc. and Westdale Properties, has received a $169 million construction loan for West Side Square in the Journal Square neighborhood of Jersey City. Bravo Property Trust provided the debt. West Side Square will offer 477 units in studio, one- and two-bedroom floor plans. Amenities will include coworking space, an outdoor deck with a pool and grilling stations, fitness center, community room and dog run. The property will also feature 9,841 square …
STOCKBRIDGE, GA. — Thompson Thrift has unveiled plans to develop The Levi, a 212-unit community located at 2245 Jodeco Road in the southeast Atlanta suburb of Stockbridge. The Levi will offer one-, two- and three-bedroom apartments averaging 1,100 square feet in size. Amenities will include a fitness center, pool, outdoor grills, work suites, a pickleball court, dog park, pet spa and a Starbucks coffee bar. The Levi will be situated within the 158-acre master-planned Bridges at Jodeco development. A construction timeline was not disclosed.
