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Alvera-at-the-Meadows
Investment SalesNewsUtahWestern

Gelt Venture Partners Acquires 142-Unit Property in American Fork, Utah

by Lynn Peisner

AMERICAN FORK, UTAH — Gelt Venture Partners (GVP) has acquired Alvera at the Meadows in American Fork, about midway between Provo and Salt Lake City. The seller was a joint venture between Woodbury Corp., Garbett Homes and Cirrus Group. The 142-unit property was developed in 2021 on about 4 acres. It features a mix of one-, two- and three-bedroom floor plans and such amenities as a pool and hot tub, a fitness center, clubhouse, package lockers and a playground. GVP is planning property upgrades during its hold. Brock Zylstra and Daniel …

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Broadstone-Marina-Bay-Tampa
DevelopmentFloridaLeasing & MarketingNewsSoutheast

Alliance Residential Opens Bayfront Broadstone Property in Tampa

by Lynn Peisner

TAMPA, FLA. — Alliance Residential Co. has completed development of Broadstone Marina Bay, a 325-unit community in Tampa’s Westshore Marina district with waterfront views. The community is anchored by a waterfront clubhouse whose standout amenity is a fully equipped multimedia production space with professional recording gear, Blackmagic-brand cinema cameras, editing suites and industry-grade instruments, designed for resident music, video and podcast production. The club also is home to a bayfront saltwater pool with cabanas, a rooftop lounge, a waterfront putting green, a dog park, yoga and bocce ball lawns, a …

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The-Perennial
Affordable HousingDevelopmentNew YorkNewsNortheast

Construction Underway on $150 Million Redevelopment of Former Queens Hospital

by Lynn Peisner

NEW YORK CITY — Foxy Development and Selfhelp Realty Group have closed on financing and begun construction of The Perennial, a 145-unit, multi-generational affordable housing property that also will be the future home of the Forest Hils Jewish Center. The project is a redevelopment of a former Parkway Hospital building that is located at 70-35 113th St. in the Forest Hills section of Queens. The building has been vacant since the hospital closed down in 2008. The building was constructed in the 1960s. Once complete, by approximately the end of …

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Ekos-at-Arbor-Park-II
Affordable HousingDevelopmentFloridaNewsSoutheast

McDowell Housing Partners Breaks Ground on Second Phase of Ekos at Arbor Park

by Lynn Peisner

NORTH PORT, FLA. — McDowell Housing Partners has begun construction of the second phase of Ekos at Arbor Park, an affordable housing community in North Port, about midway between Sarasota and Fort Myers. Phase I was reserved for seniors, while the second phase, which will include 66 units, will be reserved for families earning at or below 70 percent of the area median income. Completion is slated for the fourth quarter of 2026. Phase I was completed in May of this year. Ekos at Arbor Park Phase II will include …

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1901-South-Charles-Baltimore
BerkadiaInvestment SalesMarylandNewsNortheast

Berkadia Arranges $73 Million Baltimore Portfolio Trade

by Lynn Peisner

BALTIMORE — Benefit Street Partners sold a two-property portfolio in Baltimore to FPA Multifamily for $73 million on Sept. 11. The combined occupancy rate on that date was 95 percent. Berkadia DC Metro and Berkadia Richmond represented the seller with a team led by Drew White, Brian Crivella, Carter Wood, Bill Gribbin, Yalda Ghamarian and Cole Carns. The seller is based in New York, and the buyer, which assumed a HUD loan in the acquisition, is headquartered in San Francisco. The portfolio consists of The Lofts, built in 2012, and …

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Nines-at-Kierland-Scottsdale
ArizonaColoradoGeorgiaInvestment SalesNevadaNewsNorth CarolinaSouth CarolinaSoutheastWestern

Sunroad Sells $1.1 Billion Portfolio to Fairfield

by Lynn Peisner

SAN DIEGO — Sunroad Enterprises has sold a 15-property portfolio to Fairfield for $1.1 billion. Both firms are based in San Diego. The portfolio includes properties in six states: six in Arizona, one in Nevada, three in Colorado, two in North Carolina, two in South Carolina and one in Georgia. The deal took six years to put together. JLL, representing Sunroad, arranged the sale as well as a $415 million Freddie Mac loan for 10 of the assets and an additional $250 million in fixed-rate senior debt provided by KKR. …

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Presidium-Waterford-Austin
DevelopmentNewsTexas

Presidium Opens North Austin Project

by Lynn Peisner

AUSTIN, TEXAS — Dallas-based developer Presidium has completed construction of Presidium Waterford, a six-story, 283-unit community in Austin, about four miles south of The Domain, a mixed-use destination in North Austin. Residents will be able to take advantage of smart-home controls, including thermostats, lighting and unit access, through one smartphone app. Amenities include a resort-style pool, outdoor fireplaces, a water volleyball court, a courtyard with fire pits, a hammock grove, coworking lounges and a fitness center with spin and yoga studios connected to an outdoor lawn. The property also features …

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Westbend-Residences-Fort-Worth
DevelopmentNewsTexas

Trademark Begins Construction of Westbend Residences in Fort Worth

by Lynn Peisner

FORT WORTH, TEXAS — Trademark Property Co., a locally based mixed-use developer, is underway on the construction of Westbend Residences in Fort Worth’s University District. Completion is slated for the first quarter of 2027. The 321-unit property is being developed on 3.5 acres along the Trinity Trails, which make a loop around the Trinity River. The seven-story community will feature ground-floor restaurant space, two resort-style pools, a fitness center, a dog spa and a two-story parking garage. The project has been designed to meet National Green Building Standards to qualify …

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65-E-Wacker
DevelopmentFinanceIllinoisMidwestNews

JV Closes Financing for Chicago Loop Historic Redevelopment

by Lynn Peisner

CHICAGO — Chicago-based developer Mavrek along with capital partner ACRES Commercial Realty Corp. have secured the financing needed to begin redevelopment of the Millinery Mart at 65 E. Wacker Place. The building was opened in 1928 and, as its first use, served as centralized operations for the city’s hatmakers. In recent years, it has been primarily offices with ground-floor retail and restaurant space. Mavrek will redevelop the historic property into a 252-unit luxury apartment complex called Wacker Place. The contractor is McHugh Construction, and the architect is Pappageorge Haymes Partners. …

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River-House-San-Antonio
Investment SalesNewsTexas

Hixon Properties Sells San Antonio River Walk Asset

by Lynn Peisner

SAN ANTONIO — Newmark has arranged the sale of River House in San Antonio. Locally based, private real estate investment company Hixon Properties, the seller, developed the community in 2015. According to the San Antonio Business Journal, OTH Capital out of Austin, Texas, acquired the 261-unit asset, which was 95 percent occupied at the time the deal closed. River House is located on the city’s pedestrian River Walk, less than half a mile from the San Antonio Museum of Art. Community amenities include an infinity-edge pool, a rooftop terrace and …

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