BRANCHBURG, N.J. — Walters has completed the lease-up of Cornerstone at Branchburg, a 150-unit property in the northern New Jersey township of Branchburg. The locally based developer broke ground on the asset in May 2021 and began leasing last spring. Cornerstone at Branchburg comprises a pair of three-story buildings on an 11.7-acre site. Units come in in one- and two-bedroom floor plans and range from 700 to 900 square feet in size. Amenities include a fitness center, game room and outdoor grilling and dining areas.
ALLENDALE, N.J. — The Hampshire Cos. has opened The Vale, a 70-unit community located at 220 W. Crescent Avenue in the northern New Jersey borough of Allendale. The Vale was designed by DMR Architects. The community offers one- and two-bedroom apartments with features such as quartz countertops, mosaic tile backsplashes, custom cabinetry, stainless steel appliances and plank flooring. Amenities include a clubroom, lounge, fitness center and a 9,460-square-foot outdoor courtyard.
HOUSTON — Asset Living has been awarded management of two properties, HiLine Heights and District at Washington, in Houston. Situated within the city’s The Heights neighborhood, HiLine Heights offers studio, one-, two- and three-bedroom apartments. Amenities include a pool, fitness center, business center, clubhouse, coffee bar and lounge. According to Apartments.com, HiLine Heights comprises 256 units across four stories. District at Washington offers one- and two-bedroom units. Amenities include a pool, fitness center, business center, yoga/spin studio, clubhouse, cybercafe and a dog park. District at Washington is located near Houston’s …
Concerns of oversupply have risen regarding several Texas markets, including Dallas and Austin. Where does San Antonio stand in terms of supply and demand, and where in the city is there still room for new opportunities? Multifamily & Affordable Housing Business (MAHB) recently interviewed David Lynd, CEO of Lynd Cos., about the state of the market. Multifamily & Affordable Housing Business: How many units do you currently own nationwide? How many in San Antonio? Lynd: We own about 3,000 units in San Antonio and 6,000 nationwide. We also do third-party …
MISHAWAKA, IND. — Daniel Management Group (DMG) has been selected to manage River Rock Apartments, an 88-unit community in downtown Mishawaka. The complex offers units in studio, one-, two- and three-bedroom layouts. Amenities include a fitness center, billiards room with a pool table and TVs, business center, conference room and an outdoor space with a courtyard, BBQ grills, firepits and a picnic area. River Rock Apartments is the first community DMG has been awarded management of in the state of Indiana.
NEW YORK CITY AND TORONTO — Affiliates of Blackstone (NYSE: BX) have entered into an agreement to acquire Canadian owner-operator Tricon Residential (NYSE: TCN) for $3.5 billion. The deal is expected to close in the second quarter and will take Tricon Residential private. Blackstone will acquire all outstanding shares of Tricon’s common stock for $11.25 per share in cash. The per-share price represents a 30 percent premium over Tricon’s closing stock price on Thursday, Jan. 18 and a 42 percent premium over the weighted average share prices of the last 90 …
ATLANTA — Atlanta-based PeakMade Real Estate (PeakMade) has promoted Sam Owens to the role of regional vice president of multifamily operations. In this role, Owens will be responsible for overseeing all property operations, client relations and regional managers for PeakMade’s multifamily portfolio. Owens has worked with PeakMade for over 12 years. She began her career as a part-time leasing consultant and has served in on-site leadership roles such as leasing manager, assistant manager and property manager. Most recently, she worked as a regional manager for three years, supporting operations for …
SOUTH CHANDLER, ARIZ. — TruVista Development has begun leasing Village of Chandler, a 109-unit build-to-rent community in the Phoenix suburb of Chandler. Located at 6075 S. Gilbert Road, Village of Chandler features one-, two- and three-bedroom units. Amenities include a pool, dog park, outdoor workout stations, barbeque grills, walking trails, detached garages and private backyards with pet-friendly doors. The community is currently 33 percent leased and is managed by MEB Management Services.
DALLAS — Cushman & Wakefield has promoted Jeremy Edmiston to the role of Executive Director, U.S. Lead Build-To-Rent/Single-Family Rent (BTR/SFR). In this position, Edmiston will collaborate with Cushman & Wakefield’s Capital Markets and Debt teams to provide unified BTR/SFR end-to-end solutions to clients. He will be based in the firm’s Dallas office.
ATLANTA — Shortened attention spans and the desire for instant gratification are a couple of the changing consumer behaviors that impact the multifamily operations industry. Karen Key, a president with Houston-based Asset Living, said that 75 percent of consumers expect a response time in less than 24 hours from a business. Twenty percent expect a response time within minutes. “If you’re missing that mark and someone else is responding to them, whether it’s a client, prospect or resident, you’ve lost them. They’re gone.” Key’s remarks came during the operations panel …