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Town Deer Valley in Phoenix
ArizonaInvestment SalesNewsWestern

Goodman Real Estate Purchases Community in Phoenix for $131 Million

by Channing Hamilton

PHOENIX — Goodman Real Estate has acquired Town Deer Valley, a 388-unit community in Phoenix, for $131.1 million. Built in 2024 on 18 acres, Town Deer Valley offers amenities such as a 5,900-square-foot clubhouse with arts and crafts room, poker room and sundry shop. Residents also have access to a 3,800-square-foot fitness center and a pool. The average unit size is 1,004 square feet. The seller was a joint venture between The Related Group and Rockpoint. Cliff David and Steve Gebing of Institutional Property Advisors, a division of Marcus & …

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Rainbow Village in Miami
Affordable HousingDevelopmentFloridaNewsSoutheast

Housing Trust Group Breaks Ground on $185 Million Mixed-Use Project in Miami

by Channing Hamilton

MIAMI — Housing Trust Group (HTG) has broken ground on Rainbow Village, a $185 million mixed-use development with 310 affordable housing units in Miami. Spanning 698,000 total square feet, Rainbow Village will also offer about 12,000 square feet of retail space, 50,000 square feet of amenity space and 442 parking spaces. Located at 2000 NW 3rd Ave., Rainbow Village will offer 30 studios, 163 one-bedroom units, 85 two-bedroom residences, 28 three-bedroom units, and 4 four-bedroom apartments. The community will be reserved for households earning at or below 30, 50, 60, 70 …

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Red Table Apartments in Gypsum, Colorado
ColoradoFinanceNewsWestern

Brikwell Secures $18.7 Million Loan for Refinancing of Property in Gypsum, Colorado

by Channing Hamilton

GYPSUM, COLO. — Brikwell has received an $18.7 million loan through Freddie Mac for the refinancing of Red Table Apartments, a 77-unit community located at 765 Red Table Drive in Gypsum. The property comprises 64,692 rentable square feet on a 3.6-acre site. Tony Nargi of JLL Capital Markets arranged the 10-year, fixed-rate loan, which will be serviced by JLL Real Estate Capital LLC, a Freddie Mac Optigo Lender. Built in 2009 and expanded in 2018, Red Table Apartments offers a mix of studio, one- and two-bedroom units. The three-story community …

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Loden in New York City
DevelopmentLeasing & MarketingNew YorkNewsNortheast

Carmel Partners Begins Leasing 569-Unit Development in Brooklyn

by Channing Hamilton

NEW YORK CITY — Carmel Partners has begun leasing Loden, a 569-unit development with 7,483 square feet of retail space located in the Crown Heights neighborhood of Brooklyn. Locally based firm MNS Real Estate will lead leasing and marketing for the development. Loden offers a mix of studio, one- and two-bedroom floor plans. Each apartment is equipped with stainless steel appliances, nickel fixtures and door hardware, quartz countertops and backsplash, washers and dryers and wood-grain plank flooring. The 17-story community features a courtyard and rooftop terrace, both of which feature …

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Mailman Post in Raleigh, North Carolina
DevelopmentFinanceNewsNorth CarolinaSoutheast

Turnbridge Equities Receives $51.2 Million Construction Loan for Build-to-Rent Project Near Raleigh, North Carolina

by Channing Hamilton

KNIGHTDALE, N.C. — Turnbridge Equities has received a $51.2 million construction loan for Mailman Post, a 302-unit build-to-rent (BTR) development in Knightdale, about 12 miles east of Raleigh, North Carolina. Paul Spellman, Chris Peck and Ward Smith of JLL Capital Markets arranged the non-recourse loan through a regional bank. Mailman Post is located on 74 acres at 409 and 438 Mailman Rd. The community will feature a mix of two- through five-bedroom units with an average size of approximately 1,650 square feet. Each unit will include a backyard, garage and …

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Los Arcos at Vida in San Antonio
Affordable HousingDevelopmentNewsTexas

NRP Group Delivers $81 Million Affordable Housing Project in San Antonio

by Channing Hamilton

SAN ANTONIO — Cleveland-based developer The NRP Group has completed Los Arcos at Vida, an $81 million affordable housing project in San Antonio. Located within the 600-acre Vida master-planned development, Los Arcos at Vida consists of 324 apartments, which are reserved for households earning between 30 and 70 percent of the area median income.  Units come in one-, two, three- and four-bedroom floor plans. Community amenities include a pool with a sundeck, barbecue grills and picnic areas, a conference center and cybercafé, activities room, community garden, playground and laundry facilities.  …

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Columbus Plaza in Chicago
FinanceIllinoisMidwestNews

Habitat Receives $102.4 Million for Refinancing of Columbus Plaza in Chicago

by Channing Hamilton

CHICAGO — Habitat has received a $72.9 million Freddie Mac loan, as well as $29.5 million in equity from New York-based Torchlight Investors for the refinancing of Columbus Plaza, a high-rise community located in downtown Chicago. Torchlight Investors joins Habitat as an equity partner in the property. Northmarq arranged the Freddie Mac loan. The refinancing replaces a $93 million loan from 2017 that matured in November. Habitat and its partners will use the new loan and capital structure to plan renovations and other capital improvements. Columbus Plaza consists of 534 …

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MidwestNewsPeople NewsWisconsin

MLG Names Billy Fox as President, Dan Price as Chief Investment Officer

by Channing Hamilton

BROOKFIELD, WIS. — Brookfield-based investment firm MLG Capital has appointed Billy Fox to the position of president and principal. Additionally, the company promoted Dan Price to the role of Chief Investment Officer (CIO) and principal. Fox has been with MLG for 10 years and currently leads the firm’s Legacy Fund. As president, he will lead team building efforts, investment strategy and overall client experience. He will continue to serve on the company’s investment committee. Price has worked with MLG for four years. He currently leads the firm’s Midwest acquisition team …

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ArizonaInvestment SalesNewsWestern

Goodegg Investments Purchases 71-Unit Asset in Phoenix

by Channing Hamilton

PHOENIX, ARIZ. — Goodegg Investments has purchased North Edge Apartments, a 71-unit community in Phoenix, for an undisclosed price. According to Apartments.com, the property was completed in 1979 and consists entirely of one-bedroom units. Most of the apartments, as well as common areas, were renovated within the last 2 years. North Edge Apartments is the 38th multifamily community that Goodegg Investments has acquired since the company’s inception in 2018. The San Francisco, California-based firm now owns approximately 9,000 apartments, with roughly 4,500 currently under management.

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Sutphin II in Jamaica, New York
DevelopmentFinanceNew YorkNewsNortheast

Dwight Mortgage Provides $148 Million Construction Loan for Project in Jamaica, New York

by Channing Hamilton

JAMAICA, N.Y. — Dwight Mortgage Trust has provided a $148 million loan for the construction of Sutphin II, a 524-unit mixed-income project in Jamaica, roughly 15 miles east of New York City. Steven Hersko of the SHB Group arranged the financing on behalf of the developer, a partnership led by Moshe Braver. The 24-story building will offer 366 market-rate residences and 158 affordable housing units. Income restrictions for the affordable units were not disclosed. Upon completion, however, Sutphin II will quality for a 35-year 421-a tax abatement and Brownfield Redevelopment Tax …

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