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Charbern-Seattle
Investment SalesNewsWashingtonWestern

JV Acquires Portfolio in Downtown Seattle for $35.2 Million

by Lynn Peisner

SEATTLE — Vista Investment Group and Sky Alps Capital have acquired a three-property, 215-unit portfolio in downtown Seattle for $35.2 million. The seller was an unnamed local investor and property manager who owned the buildings for about 30 years. JLL arranged a Freddie Mac loan for the buyers. The seller was represented by Dylan Simon, Jerrid Anderson, Matt Laird and JD Fuller of the Seattle office of Kidder Mathews. The portfolio consists of three properties, all of which were developed in the early 20th century and are located within a …

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Willamette-Tower-and-The-Olivia
FinanceNewsOregonWestern

JLL Arranges $169.7 Million ReFi for JV Owners of Two Portland Assets

by Lynn Peisner

PORTLAND, ORE. — JLL Capital Markets has arranged a $169.7 million, three-year bridge loan provided by TPG Real Estate Credit, the real estate finance arm of alternative asset management firm TPG. The borrowers are a joint venture between Alamo Manhattan and Diamond Realty Investments, and the funds will be put toward debt on Willamette Tower and The Olivia in Portland’s South Waterfront submarket. Willamette Tower, built in 2024, is a high-rise community that includes 340 units and 3,777 square feet of commercial space. The tower is currently 94 percent leased. …

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The-Alden-at-Cedar-Park
FinanceInvestment SalesNewsTexas

Newmark Arranges Sale, Financing in Austin Suburb

by Lynn Peisner

CEDAR PARK, TEXAS — Newmark has arranged the sale of and financing for The Alden at Cedar Park, a 349-unit property in the Austin suburb of Cedar Park, located about 22 miles north of downtown. Newmark represented the undisclosed seller and procured the buyer, Weidner Apartment Homes. This transaction marks the Kirkland, Washington-based company’s first acquisition in the Austin MSA.  Newmark arranged a Fannie Mae acquisition loan for Weidner. Developed in 2020, The Alden at Cedar Park is a four-story community comprised of one- and two-bedroom floorplans. Amenities include a …

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Emblem-Oswego
IllinoisMidwestNewsOperations

Marquette Tapped to Manage Suburban Chicago Property

by Lynn Peisner

OSWEGO, Ill. — Marquette Management, a division of Naperville, Illinois-based Marquette Cos., has been selected as property manager for Emblem Oswego, a 312-unit community in Oswego, 46 miles west of Chicago. Quarterra Group, whose parent company is Lennar, developed the property in 2024. Emblem Oswego offers one- and two-bedroom floor plans with in-unit features such as quartz countertops, stainless steel appliances and private patios or balconies. Residents also have access to a pool and sundeck, fitness center, lounge, entertainment kitchen and electric vehicle charging stations. Marquette Management provides property management …

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Pacific-Trails-Covina
CaliforniaInvestment SalesNewsWestern

The Mogharebi Group Arranges $21 Million SoCal Sale

by Lynn Peisner

COVINA, CALIF. — The Mogharebi Group has arranged the $21 million sale of Pacific Trails, representing the seller, RPK Development, in the deal. The buyer is a Los Angeles-based private investment firm. Pacific Trails, located in Corvina, 22 miles east of Los Angeles, is an 84-unit community built in 1977. It features a mix of one- and two-bedroom units and such amenities as a pool, hot tub and fire pits.

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skyway-gardens
Affordable HousingDevelopmentNewsTexas

WNC & Associates, AHP Developers Break Ground on Affordable Housing Development in Alpine, Texas

by Lynn Peisner

ALPINE, TEXAS — WNC & Associates and AHP Developers have broken ground on Skyway Gardens II, a 44-unit affordable housing development in Alpine, a small city in Southwest Texas with a population of about 6,000 residents. The project is being financed through a combination of 9 percent federal Low-Income Housing Tax Credits provided by WNC, a $3 million loan from Cedar Rapids Bank & Trust and a construction loan from Sterling Bank. Completion is slated for December 2026. Located at 1000 East Lechuguilla Lane, Skyway Gardens II comprises 11 one-story, …

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Blue-Hill-Watchung
DevelopmentFinanceNew JerseyNewsNortheast

JV Developers Lock in Financing for $102.9 Million Somerset County Project

by Lynn Peisner

WATCHUNG, N.J. — JLL Capital Markets has arranged construction debt and equity for developers building Blue Hill at Watchung, a $102.9 million community in Watchung, 30 miles west of Manhattan. Completion is slated for 2026. The Sterling Properties Group and Danbro Properties are the developers. The property benefits from a 30-year PILOT (payment in lieu of taxes) agreement with the Borough of Watchung. PILOT agreements are government-sponsored incentives for developers to build housing, whereby the property owner pays an agreed-upon annual fee to a municipality versus traditional yearly property taxes. …

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Pico-Blvd
CaliforniaDevelopmentInvestment SalesNewsWestern

CBRE Arranges $24 Million West L.A. Land Sale

by Lynn Peisner

LOS ANGELES — CBRE has arranged a $24 million land sale in West Los Angeles. The 1.7-acre multifamily development site, located at 9700-9740 W. Pico Blvd., was acquired by an LLC doing business as Pico BWB. The site is approved for the development of up to 200 apartments. The seller was not disclosed. CBRE’s Melinda Russell and Josh Samuels represented both parties in the transaction. The site is within walking distance of Century City and adjacent to Beverly Hills in the Beverlywood neighborhood.

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Veer
DevelopmentNewsTexas

Pfluger, SHIR Complete Austin Adaptive Reuse Project

by Lynn Peisner

AUSTIN, TEXAS — Pfluger Architects and developer SHIR Capital have completed construction on Veer Apartments in Austin, a 174-unit redevelopment of a former Quality Inn. Development partners include Austin Outdoor Design and Avas Construction. Originally a four-story building, the design added a fifth level. Each of the studio apartments offer vinyl hardwood flooring, a kitchen with stainless steel appliances and granite countertops and fully remodeled bathrooms with tiled showers and new vanities. The renovation added a fitness center and an outdoor pool to the property to complement the business center, …

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DevelopmentGeorgiaNewsSoutheast

Alliance Residential Buys Charleston Land for Joint Project with MAA

by Lynn Peisner

CHARLESTON, S.C. — Alliance Residential Co. has acquired about 19 acres of land at 1730 Clements Ferry Road in Charleston for the development of MAA Point Hope, a 336-unit community Alliance is developing in partnership with MAA. The site is located within the 9,000-acre master-planned community of Point Hope. MAA Point Hope will include six three-story and two four-story residential buildings and a freestanding clubhouse. Units will include granite countertops, stainless steel appliances, screened-in balconies, wood-style flooring and a washer and dryer in every apartment. Community amenities will include a …

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