GRAND PRAIRIE, TEXAS — Colliers Mortgage has provided a $16.5 million Fannie Mae acquisition loan for the Chandler, a 164-unit community in Grand Prairie, between Dallas and Fort Worth. Robert Siddall, William Givens, Shawn Givens and Ken Higgins of Colliers Mortgage originated the financing, which features a five-year term and a 35-year amortization schedule. The borrower was Dallas-based private equity firm Reap Capital. The Chandler offers one-, two- and three-bedroom units. Amenities include a pool and a playground.
WAYNE, N.J. — Cushman & Wakefield has brokered the sale of Mountain View Crossing, a 465-unit community in the New York City suburb of Wayne. The Pomeranc Group acquired the asset from UBS Realty Investors. Mountain View Crossing offers units in studio, one-, two- and three-bedroom floor plans. Amenities include a pool with a subdeck, barbeque area, tennis and basketball courts, a clubroom, fitness center and dog park. Cushman & Wakefield’s Niko Nicolaou, Ryan Dowd, Peter Welch and Mitch Rothstein represented the seller and procured the buyer. Additionally, Cushman & Wakefield’s equity, debt …
CHARLOTTE, N.C. — FCP has provided $13.9 million in preferred equity for the development of Easton at Mountain Island, a 240-unit community in Charlotte. FCP provided the capital to the developer, Waypoint Residential, through its Structured Investments platform Easton at Mountain Island will be situated on 20 acres along Garron Point Dr., near the Catawba River and Charlotte Douglas International Airport.
NEW YORK CITY — Skyline Developers has broken ground on a 97-unit project located at 18 W. 55th St. in Midtown Manhattan, the central portion of New York City’s Manhattan borough. The building will comprise 152,000 square feet across 26 stories. Goldman Sachs Bank USA provided construction financing for the development. Morris Adjmi Architects designed the building. The project is slated for completion in 2025.
WEST COLUMBIA, S.C. — JLL Capital Markets has arranged $21.8 million in bridge financing for Granby Oaks Apartments, a garden-style community in West Columbia. Thomas Didio, Gerard Quinn, Ward Smith and Michael Mataras worked on behalf of the sponsor, PAM Associates LLC, to secure the two-year, floating-rate loan through MF1 Capital LLC. Granby Oaks Apartments was built in 1973 and is situated directly west of downtown Columbia. The property features one, two- and three-bedroom units across 21 buildings. Amenities include a dining room, clubhouse, laundry facility, courtyard and pool.
WHITEHALL, OHIO — Woda Cooper Cos. and IMPACT Community Action have broken ground on The Enclave on Main, a 102-unit affordable housing community in Whitehall. The Enclave on Main will be affordable to tenants earning between 30 and 80 percent of the area median income. Units will come in one-, two- and three-bedroom layouts, with several units adapted for those with mobility challenges or sight and hearing disabilities. Amenities include a community room with kitchenette and management office for an onsite community manager. The Ohio Housing Finance Agency (OHFA) provided …
HOUSTON — New Hope Housing will break ground on two affordable housing developments in Houston — NHH Gray and NHH Berry — this October. Amegy Bank provided $50 million in financing for the project. NHH Berry will offer 180 one-, two- and three-bedroom apartments. NHH Gray will include 135 units in one- and two-bedroom floor plans. Both communities will host on-site Bezos Academy locations, which will provide free pre-school services to residents. NHH Gray and NHH Berry are scheduled to be completed in July 2025. Income restrictions for the two …
EDEN PRAIRIE, MINN. — JLL Capital Markets has arranged $69 million in joint venture equity and construction financing for Golden Triangle Station, a 237-unit development in the Minneapolis suburb of Eden Prairie. A regional bank provided a $47 million construction loan, and Amstar Group provided $22 million in joint venture equity. Josh Talberg, Scott Loving, Matthew Schoenfeldt, Colin Ryan, Dan Linnell and Mox Gunderson of JLL represented the sponsor, Greco and Eagle Ridge Partners. The project is set to break ground this fall. Of the total unit count, 25 percent will …
HOUSTON — The NHP Foundation has received $1.5 million in capital grant subsidy funding from The Corp. for Supportive Housing to offset costs incurred for the construction of 11 units of affordable housing at The Citadel at Elgin in Houston. The community opened in the summer of 2023 and is The NHP Foundation’s fifth affordable community in the city. Income restrictions for The Citadel at Elgin were not disclosed. Financing for the project’s development included $15 million of Citibank construction and permanent debt financing with tax exempt bonds issued by …
Sometimes Las Vegas’ reputation precedes it — and that can be a good or bad attribute. “Everyone remembers 2008,” says Taylor Sims, executive director of the Multifamily Advisory Group at Cushman & Wakefield. Home prices in Las Vegas plunged by 60 percent during the Great Recession, nearly twice the national rate, according to news affiliate KTNV. The University of Nevada, Las Vegas (UNLV) notes the unemployment rate peaked at 14.5 percent in October 2010. Like Sims, Michael Albanese, a multifamily specialist at NAI Vegas, knows the rest of the world …