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Lynn Peisner

Melody on Main
ArizonaDevelopmentNewsWestern

Opus Group Opens Melody on Main in Mesa

by Lynn Peisner

MESA, ARIZ. — The Opus Group has begun leasing the multifamily component of Melody on Main in Mesa. The mixed-use project includes 335 units consisting of studios, one-, two- and three-bedroom apartments. Amenities include a resort-style pool, a 24-hour fitness center, a yoga studio, bocce ball court and a dog park and spa. Melody on Main also includes 20,000 square feet of retail space. Two of five buildings in the community are now open. Melody on Main is scheduled to be fully complete in March 2024. Griffin Capital Co. was …

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The pool at Grove at Temple Terrace
FloridaInvestment SalesNewsSoutheast

29th Street Capital Buys Tampa Property for $26.6 Million

by Lynn Peisner

TAMPA, FLA. — Cushman & Wakefield has arranged the $26.6 million sale of Grove at Temple Terrace in Tampa. The 180-unit property was acquired by Infinity BH and sold by 29th Street Capital. Nick Meoli and Mike Donaldson of Cushman & Wakefield represented the seller in the transaction. According to Meoli, lease tradeouts at Grove at Temple Terrace average 17.4 percent. The average unit size is 1,104 square feet. Amenities include a pool, a tennis court, a clubhouse with a complimentary coffee bar and gated access.

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AlabamaInvestment SalesNewsSoutheast

Marcus & Millichap Brokers Huntsville-Area Sale

by Lynn Peisner

ATHENS, ALA. — Marcus & Millichap has arranged the sale of Creekside Athens, a 98-unit property in Athens, which is located about 28 miles northwest of Huntsville, Alabama. Creekside Athens has 10 acres of additional land zoned for 120 more multifamily units. Marcus & Millichap’s Josh Jacobs and Royce Emerson marketed the property on behalf of the seller, a limited liability company. The buyer and sales price were not disclosed. Constructed in 2021, Creekside Athens has two- and three-bedroom floor plans with sunrooms, walk-in closets, patios and porches. Amenities include …

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One of six properties sold in LA county in May 2023
CaliforniaInvestment SalesNewsWestern

Los Angeles 155-Unit Portfolio Sells for $53.6 Million

by Lynn Peisner

LOS ANGELES — JLL Capital Markets has arranged three separate transactions for the sale of six assets in Los Angeles County totaling $53.6 million. Five properties are located in the San Fernando Valley and one is in West Los Angeles. JLL worked on behalf of the seller, a corporate fiduciary acting on behalf of an LLC. There were three buyers whose identities were not disclosed. All three buyers assumed existing debt on the assets. The JLL Capital Markets investment sales and advisory team representing the seller was led by Managing …

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Rendering of 54 Union in Attleboro
DevelopmentMassachusettsNewsNortheast

Jonathan Cozzens Secures Financing for Massachusetts Historic Mill Redevelopment

by Lynn Peisner

ATTLEBORO, MASS. — MassDevelopment has partnered with HarborOne Bank to provide $11.3 Million in loan financing to developer Jonathan Cozzens doing business as 54 Union Street LLC. Cozzens will use the funds to renovate a former mill and manufacturing facility at 54 Union St. in Attleboro, located about 12 miles north of Providence, Rhode Island. The mill, constructed in 1908, is the former home of Pcraft Jewelry, a business founded in 1931. Attleboro was once known as the jewelry capital of the United States. The new market-rate community will consist …

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Oxford Hills in St. Louis
Investment SalesMidwestMissouriNews

Cushman & Wakefield Rep Harbor Group in St. Louis Disposition

by Lynn Peisner

ST. LOUIS — Cushman & Wakefield’s Midwest multifamily team has arranged the sale of Oxford Hills in St. Louis for an undisclosed price. Matt Stephens, Hannah Ott and George Tikijian represented the seller, Harbor Group International, in its transaction with FPA Multifamily, a San Francisco-based multifamily investor. The property includes 480 units in one-, two- and three-bedroom configurations. Amenities include a resort-style pool, a clubhouse, playground, tennis courts and garage and storage areas. According to Apartments.com, the property is now called ReNew on Lindbergh and rents range from $980 to …

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Oxenfree rendering
Build-to-RentCompany NewsDevelopmentMidwestNewsSoutheastTexas

Core Spaces Launches Build-to-Rent Brand, Plans 8,000-Unit Pipeline

by Lynn Peisner

CHICAGO — Core Spaces, a Chicago-based developer that was founded in 2010 and specializes primarily in student housing, is debuting a build-to-rent brand called Oxenfree. The company also operates out of an Austin, Texas, office. The first two projects will be developed in Princeton, Texas, and Nashville, Tennessee, and will be completed by approximately 2024. Oxenfree properties will also be constructed in Denver, Dallas, Austin and San Antonio, Texas, Tampa and Orlando, Florida, Charlotte and Raleigh, North Carolina, and Chicago. The communities will be developed as single-family and townhome-style dwellings. The …

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Loma Villas
CaliforniaDevelopmentInvestment SalesNewsWestern

The Mogharebi Group Arranges $21.5 Million Sale of New Asset in San Bernardino  

by Lynn Peisner

SAN BERNARDINO, CALIF. — The Mogharebi Group (TMG) has arranged the $21.5 million sale of Loma Villas, a newly constructed, 70-unit community in the Inland Empire city of San Bernardino. Loma Villas features a mix of studio, one- and two-bedroom floor plans that include enclosed patios or balconies. Amenities include a pool and spa, a fitness center, dog park and grilling and picnic areas. TMG’s Alex Mogharebi, Otto Ozen and Bryan LaBar represented the seller, a regional owner and developer. The buyer is a Southern California-based private investor.

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NOVEL Morrisville rendering
DevelopmentNewsNorth CarolinaSoutheast

Crescent Communities Breaks Ground on Apartments in Research Triangle Master-Planned Development

by Lynn Peisner

MORRISVILLE, N.C. — Crescent Communities broke ground in April on NOVEL Morrisville, a 336-unit project located in a master-planned development about 15 miles northwest of Raleigh, North Carolina. The site is across the street from Spark Life Science, an under-construction life sciences project, and adjacent to Apple’s upcoming Research Triangle campus. NOVEL Morrisville is slated for a summer 2024 completion. The unit mix includes one-, two- and three-bedroom floor plans. Amenities feature a pool, two-story fitness center, resident club room and arcade, a sports-bar-inspired lounge and coworking spaces. Partners for …

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Caesars Luxury Apartments exterior
Investment SalesNewsWashingtonWestern

Barcelo Homes Sells Newly Completed Tacoma Asset for $35.4 Million

by Lynn Peisner

TACOMA, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Caesars Luxury Apartments in Tacoma. The 131-unit asset sold for $35.4 million. The seller, Barcelo Homes, completed development of the project earlier this year. IPA’s Nick Ruggiero, Philip Assouad, Giovani Napoli, Ryan Harmon and Anthony Palladino represented the seller. Kathryn Dobler of Tacoma-based Dobler Management represented the buyer, RGPD LLC. The property offers a mix of studios, “urban” one-bedrooms, traditional one-bedrooms and two-bedroom units. An urban one-bedroom is a unit type that …

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