STAMFORD, CONN. — Urby, a joint venture between Ironstate Development and Brookfield Properties, has sold Stamford Urby to Pantzer for $221 million. CBRE’s Jeffrey Dunne, Eric Apfel, Stuart MacKenzie, Travis Langer, and Eric Greenberg arranged the sale. Manhattan-based Pantzer has renamed the property The Point Stamford. Maxi Leachman of CBRE secured an undisclosed amount of debt for Pantzer. The property was developed in two phases (2019 and 2023) and features a 5,500-square-foot fitness center, heated pool, an courtyard, coworking spaces, a lobby, café, outdoor fire pits and grills, covered parking, …
News
HOLLYWOOD, FLA. — Starlife Group has launched pre-leasing at 21 Hollywood, a 200-unit luxury community in Hollywood, Florida. The 14-story mixed-use tower at 2100 N. Federal Highway includes 10,000 square feet of retail, a pool with private cabanas, fitness center with dedicated yoga and Pilates studio, coworking spaces, cinema room, game room, golf simulator, a children’s play area and a dog park and dog-washing station. Full project completion is slated for early 2027. Starlife is headquartered in Miami.
Northmarq Arranges $22.9M for Affordable Housing Acquisition in Lawrence, Massachusetts
LAWRENCE, MASS. — Northmarq has arranged a Fannie Mae loan for approximately $22.9 million for Arrowpoint Properties’ acquisition of Elora Flats & Townhomes in Lawrence, 30 miles north of Boston. Northmarq’s Boston-based team was led by Jeff Munoz, Kevin Sykes, Ed Riekstins and Jeffrey Munoz. Built in 2009, Elora Flats & Townhomes features six four-story buildings with 104 residential units reserved for families earning up to 80 percent of area median income. The property has maintained an average occupancy of 97.6 percent over the past 12 months. Amenities include parking for …
ORLANDO, FLA. — Boston-based Taurus Investment Holdings has obtained an $85.4 million loan to refinance two Orlando-area assets, The Summit at Metrowest and The Legends at ChampionsGate. Matt Robbins, Mitch Sinberg, Brad Williamson, Scott Wadler and Hugo Hernandez of Berkadia’s Miami and Boca Raton offices secured the financing. The lender was Walton Street Capital. The Summit at Metrowest is a 280-unit community comprised of one-, two- and three-bedroom units. The property is situated within the MetroWest master-planned community. The Legends at ChampionsGate is a 252-unit property made up of one- …
The affordable housing industry has spent years asking Congress for a federal response to the nation’s housing shortage. With the 21st Century ROAD to Housing Act having officially become law on July 11, industry groups are treating the legislation as a rare bipartisan win — not because it solves the crisis unilaterally but because it tackles several of the bottlenecks that have slowed development and preservation. According to the National Low Income Housing Coalition, the nation is short 7.2 million affordable and available rental homes for extremely low-income households. The …
FORT COLLINS, COLO. — Concord Summit Capital has arranged a $115.5 million construction loan for Collins at Union Park, a 457-unit community in Fort Collins. The borrower/developer is Livmark Communities, a division of Landmark Homes, which has broken ground on the project. Amenities will include a clubhouse, pool, golf simulator, playground, parks, trails and gathering spaces. Units will be offered as apartments, townhomes and carriage houses. Completion is slated for 2028.
Priority Capital Advisory Arranges $11.5M Refinancing of Former Hotel in Madison, Wisconsin
MADISON, WIS. — Priority Capital Advisory has arranged an $11.5 million loan for the refinancing of Vivo Madison, a 153-unit property at 517 Grand Canyon Drive in Madison. The borrower is a joint venture between REALM and OTR Real Estate. The partners acquired Vivo in April 2023, at which time the property was a Radisson Hotel. OTR specializes in the conversion of hospitality assets to multifamily. Since 2023, the owners have added kitchenettes to all the units and built out the amenity spaces. Vivo received its certificate of occupancy in …
NASHVILLE, TENN. — American Landmark Apartments has acquired Hamptons at Woodland Pointe, a 240-unit community in Nashville, which will be rebranded as Woodland Pointe Residences. Built in 2001, the property is comprised of one-, two- and three-bedroom apartments homes and a pool, fitness center, clubhouse, business center, dog park, grills, a car-care center and controlled-access entry. The Nashville Business Journal reports the sales price was $51.5 million, and the seller was Seattle-based Security Properties Residential.
DALLAS — Crow Holdings has obtained a $380.2 million refinancing loan for a five-property portfolio totaling 1,549 units in Texas, Colorado and Virginia. Each was developed by Trammell Crow Residential in partnership with Crow Holdings. CBRE’s Dallas-based Andy Scott, Michael Cosby, Kris Lowe, Tom Burns and Bo Beidleman arranged the financing through AllianceBernstein. The assets include Alexan Lower Greenville in Dallas, Alexan Braker Pointe and Alexan Waterloo in Austin, Texas, Alexan Julian in Denver and Alexan Florence in Alexandria, Virginia. Trammell Crow Co. is owned by CBRE. Crow Holdings is …
Hedrick Brothers Obtains $56.5M Loan, Breaks Ground on 366-Unit Project in Kissimmee, Florida
KISSIMMEE, FLA. — Hedrick Brothers Development has obtained a $56.5 million construction loan for The Hedrick at Lake Toho, a 366-unit community along Toho Grande Boulevard in Kissimmee. Construction has commenced, with completion slated for the end of 2028. Pre-leasing is expected to begin in 2027. Located on approximately 22 acres, The Hedrick at Lake Toho will feature a mix of one-, two- and three-bedroom units complemented by a resort-style pool with cabanas and fire pit, clubhouse with coworking and gaming spaces, pickleball courts, a yoga lawn, dog park, pet …