CARLISLE, PA. — Largo Capital has arranged a $6.7 million acquisition loan for a 120-unit property in Carlisle, a western suburb of Harrisburg. The property consists of 15 buildings that house 88 one-bedroom units with an average size of 598 square feet and 32 two-bedroom units with an average size of 828 square feet. Neal Colligan of Largo Capital originated the financing. The borrower and direct lender were not disclosed.
ALEXANDRIA, VA. — PRP has completed the conversion of an office building at 4900 Seminary Road in Alexandria into a 212-unit apartment tower named the Sinclaire on Seminary. The high-rise features apartments averaging 850 square feet in size with ceilings exceeding 10 feet in height. Amenities include ground-level retail space, a dog park, individual storage spaces, indoor parking garage connected by a covered walkway and outdoor lounge areas with firepits, a bocce ball court and outdoor recreational activities. Kettler is the property manager of Sinclaire on Seminary. Monthly rental rates …
WASHINGTON, D.C. — Skanska has topped out OZMA, a 12-story, mixed-use development, at 44 M St. Northeast, in the city’s NoMa neighborhood. Designed by Handel Architects, OZMA will feature 275 units and 7,700 square feet of retail space. The ground floor will include a secret garden, library lounge, meeting and workspaces, fitness center with flex studio and an art studio with a social bar. The penthouse offers a wellness center with tranquility cabanas, outdoor fireplace and solarium garden. The top floor also offers an expansive terrace with a heated pool, …
NEW YORK CITY — The New York City Housing Authority (NYCHA) has selected Beacon Communities, MBD Community Housing Corp. and Kalel Holdings as a new partner team to deliver $128.5 million in repairs and improvements to 952 apartments across the northeast Bronx. The renovations are expected to start in 2024. A completion date was not disclosed. The improvement plan will be delivered through the Permanent Affordability Commitment Together (PACT) program and will cover three NYCHA properties: Boston Secor, Boston Road Plaza and Middletown Plaza, affecting 1,700 residents. Planned improvements include …
CHICAGO — The City of Chicago Housing Authority (CHA), Department of Housing and local development company, Related Midwest, have broken ground on Phase 3B of Roosevelt Square, a 160-acre mixed-use development on the near west side of the city. The project is set to create a total of over 2,000 new housing units in the area. Phase 3B includes the construction of three new mid-rise buildings with 92 market-rate units, 80 units for families with CHA subsidies and 50 affordable or workforce apartments. As part of this phase, Related Midwest …
CONNERSVILLE, IND. — Marcus & Millichap has arranged the sale of Turtle Creek Apartments, a 129-unit property located in Connersville. The property was sold to an undisclosed limited liability company for $5.6 million. Aaron Kuroiwa and Tony Rogers from Marcus & Millichap’s Indianapolis office represented both the seller, an undisclosed limited liability company, and the buyer in the transaction. Turtle Creek Apartments is located at 3600 Western Ave. in Connersville. The apartments consist primarily of studio and one-bedroom units and recently underwent capital improvements including a new roof, parking lot, …
INDIANAPOLIS — Olive Tree Holdings, a New York-based private investment company, has begun a $6 million modernization of The Life at Creekside Reserve located in Indianapolis. Improvements to the 320-unit, garden-style complex are slated for completion in the third quarter of 2024. Situated on more than 28 acres of land, The Life at Creekside Reserve is a gated community comprised of 16 three-story buildings, and 320 units across a mix of one-, two- and three-bedroom layouts. Current amenities at the propertyinclude a daycare facility, clubhouse, fitness center, playground, laundry facilities …
CHICAGO — Locally based Kiser Group has arranged the sale of 155-unit Anderson Point in Chicago’s Andersonville neighborhood for $53 million. The transaction was arranged by Lee Kiser, Katie LeGrand and Jacob Price of Kiser Group. The buyer, Lake Street Lofts LLC, purchased the property from MCZ Edgewater Development LLC in a 1031 exchange. Anderson Point is an adaptive reuse of the Edgewater Medical Center and was transformed by the seller in 2021. Anderson Point offers a mix of studio, one-, two- and three-bedroom units. Amenities include indoor parking, in-unit …
NORTH BERGEN, N.J. — Redwood Realty Advisors has arranged the sale of a 24-unit property at 625 Kennedy Blvd. in North Bergen. Situated in New Jersey’s Gold Coast area, the asset sold for $2.5 million in an all-cash transaction. The property has had not changed hands in over 25 years. The undisclosed buyer and seller were both represented by Steven Matovski, director of Redwood Realty. All units at the 625 Kennedy Blvd. property are one-bedroom layouts. Roughly 30 percent of the units were vacant as of the close of sale. …
EAST BRUNSWICK, N.J. — AMS Acquisitions, a locally-based developer, has begun leasing Summerhill Gardens, a 96-unit property located near New York City in East Brunswick. Rents start at $2,400 per month for a one-bedroom unit. Designed by Minno & Wasko Architects, the property consists of four three-story buildings that house one- and two-bedroom units, 24 of which are subject to income restrictions. Amenities include a fitness center, business center with conference facilities, outdoor courtyards, grilling and dining areas, lounge, playground and dog run.