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Ellis-Creek-North-Charleston
Affordable HousingInvestment SalesNewsSouth CarolinaSoutheast

South Carolina Acquisition Takes Waverly Place from Market-Rate to Affordable Housing

by Lynn Peisner

NORTH CHARLESTON, S.C. — A joint venture comprised of McLean, Virginia-based KETTLER and The Stillman Group of Scarsdale, New York, has sold Waverly Place, a 276-unit community in North Charleston. The buyer was the Charleston Workforce Housing Fund, an impact fund led by Charlotte, North Carlonia-based Ascent Housing in partnership with Housing Collaborative, a Charleston-based affordable housing nonprofit. The acquisition is part of a citywide initiative to expand affordable and workforce housing across the region. According to The Post and Courier, the asset sold for approximately $41 million. Newmark’s Alex …

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Madison-Shores-Pensacola
FinanceFloridaNewsNorth CarolinaSouth CarolinaSoutheast

Walker & Dunlop Arranges $223M Refinancing for Madison Capital Portfolio

by Lynn Peisner

BETHESDA, MD. — Walker & Dunlop has arranged approximately $223 million in bridge financing for five communities across the Southeast on behalf of Charlotte, North Carolina-based Madison Capital Group. The bridge loans will refinance existing debt for five properties (1,345 units) in Florida and the Carolinas. Walker & Dunlop arranged the loans with multiple debt fund lenders. A team led by Walker Layne, Austin Sneed and Tyler Evenson closed the five refinancings over the past nine months. The portfolio includes: The Caroline in Indian Land, South Carolina; Madison Shores in …

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100-jane-street-West-Village
Affordable HousingFinanceNew YorkNewsNortheast

Rockrose Obtains $69.5M Refinancing for West Village Asset

by Lynn Peisner

NEW YORK CITY — JLL Capital Markets has arranged a $69.5 million Freddie Mac refinancing loan for 100 Jane, a 148-unit property in Manhattan’s West Village neighborhood. The borrower was Rockrose Development Corp. Located at 100 Jane St. and built in 1996, the property includes 117 market-rate units, 30 affordable units and one superintendent unit. Rent restrictions were not disclosed. Amenities include a landscaped rooftop terrace, fitness center and laundry facilities. The JLL team representing the borrower was led by Geoff Goldstein, Steven Klein and Michael Shmuely.

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The-Ellery-of-Cary-North-Carolina
FinanceInvestment SalesNewsNorth CarolinaSoutheast

Mesa West Funds $29.7M Acquisition Loan for The Ellery of Cary in North Carolina

by Lynn Peisner

CARY, N.C. — Mesa West Capital has provided a $29.7 million loan for Addison, Texas-based McDowell Properties’ acquisition of The Ellery of Cary, a 194-unit property in Cary. The financing was arranged by Trevor Brotman, Tricia Linden, and Kara Profitt out of Walker & Dunlop’s Irvine, California, office. Built in 1988 on approximately 19 acres, The Ellery of Cary offers a mix of one-  and two-bedroom floor plans averaging 875 square feet. Units feature stainless steel appliances, laminate flooring, walk-in closets, private balconies and in-unit washers and dryers. Amenities include …

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95-Everett-Boston
Affordable HousingDevelopmentMassachusettsNewsNortheast

Pennrose Breaks Ground on $51.9M Mixed-Income Boston TOD

by Lynn Peisner

BOSTON — Pennrose has begun construction of 95 Everett Street, an 88-unit, transit-oriented, mixed-income development in the Allston-Brighton neighborhood of Boston. The approximate project cost, according to the City of Boston, is $51.9 million. The property is across the street from the Boston Landing MBTA commuter rail station. Units offered as studios or with one, two or three bedrooms will come with rent restrictions ranging from 30 up to 120 percent of area median income. Residents will have access to a clubhouse, rooftop terrace and a fitness center. Pennrose Management …

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Greenwich-Oaks-Greenwich
ConnecticutInvestment SalesNewsNortheast

RMR Buys Connecticut Properties for $365M

by Lynn Peisner

GREENWICH, CONN. — RMR Residential, a subsidiary of RMR Group, has acquired a two-property portfolio known as The Greenwich Collective for $365 million. Greenwich Oaks and Greenwich Place will be managed by ARIUM, RMR’s residential brand. The seller was not disclosed. Situated on the New York-Connecticut border, ARIUM at Greenwich Oaks at 255 Weaver St. features 134 two- and three-bedroom garden-style units. Amenities include a heated, resort-style pool, basketball and pickleball courts and a playground. ARIUM at Greenwich Place at 9 1/2 Putnam Green offers 272 one-, two- and three-bedroom …

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Res-at-White-Rock-Dallas
Investment SalesNewsTexas

Colliers Brokers Sale of Two Texas Properties

by Lynn Peisner

DALLAS AND FORT WORTH, TEXAS — Colliers has arranged the sale of two properties in North Texas: Apex Apartments in Fort Worth and Residences at White Rock Lake in Dallas. Colliers represented the seller in both transactions. Additional terms of the sales were not disclosed. Apex Apartments is a 152-unit community located at 5320 E. Rosedale Street in Fort Worth. Built in 1968, the property spans approximately 7 acres and consists of 10 two-story buildings containing a mix of one-, two- and three-bedroom floor plans. Residences at White Rock Lake, located …

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The-Versailles-Los-Angeles
CaliforniaInvestment SalesNewsWestern

Marcus & Millichap Brokers $47M Sale of The Versailles in Los Angeles

by Lynn Peisner

LOS ANGELES — Marcus & Millichap has brokered the $47 million sale of The Versailles Apartments, a five-story, 78-unit community in Los Angeles. Tony Azzi and Rabbie Banafsheha of the Azzi Group of Marcus & Millichap represented the seller and procured the buyer. Neither party’s identity was disclosed. Constructed in 1989, The Versailles Apartments has a rooftop pool and deck, a fitness center, laundry facilities on every floor and two levels of subterranean parking. Apartments feature hardwood floors, granite countertops, stainless-steel appliances and dishwashers. Select units have washers and dryers.

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Riverhouse-9-Weehawken
Company NewsMassachusettsNew JerseyNewsNortheastOperations

RHO Residential Tapped to Manage Former Veris Residential Portfolio

by Lynn Peisner

ROSELAND, N.J. — RHO Residential has been selected by the new ownership of Veris Residential to manage 15 properties in New Jersey and greater Boston. Veris Residential (NYSE: VRE) was taken private in an acquisition finalized in May. Craig Solomon of Affinius Capital in partnership with Vista Hill Partners, a real estate investment and development group headed by Bradford Klatt and Jonathan Kushner, bought the REIT for $3.5 billion. The assignment nearly doubles RHO Residential’s unit count to just under 12,000 apartments across 40 communities as well as approximately 182,000 …

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Estia-Roseville
Build-to-RentCaliforniaDevelopmentLeasing & MarketingNewsOperationsWestern

Zilber Opens BTR Project Northeast of Sacramento

by Lynn Peisner

ROSEVILLE, CALIF. — Zilber Residential Group and Homes by Towne, both affiliates of Zilber Ltd., have opened Estia Roseville, a 209-unit development approximately 20 miles northeast of Sacramento. The one- and two-bedroom single-story homes range from about 709 to 1,083 square feet, and each features a private entrance, walk-in closets, a washer and dryer, stainless-steel appliances and private, fenced-in backyards with built-in dog doors. The community also offers a dog park and a pet spa, along with a pool, clubhouse, 24-hour fitness center and a dedicated yoga studio. Asking monthly …

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