CHICAGO — 29th Street Living, the property management division of 29th Street Capital (29SC), has expanded into third-party property management services. The division currently manages more than 55 properties across 23 markets. According to 29SC, 29th Street Living has a resident-first approach and is focused on providing cutting-edge technology and streamlining operations. 29SC is an investment management firm based in Chicago with back-office support in Louisville, Kentucky. The firm has acquired and developed more than 158 properties throughout the nation.
SAN ANTONIO — Newmark has arranged the sale of O’Connor Oaks, a 165-unit community located at 13658 O’Connor Road in northeast San Antonio. Jim Young and Chase Easley of Newmark Multifamily Capital Markets represented the seller, Austin-based JMB Group, in the deal. Salt Lake City-based Preserve Partners was the buyer. O’Connor Oaks was built in 1983. The garden-style community offers a mix of one-, two- and three-bedroom floor plans. The average unit size is 900 square feet. Amenities include two pools with sun lounges, outdoor grilling and picnic areas, a …
MANSFIELD, MASS. — Marcus & Millichap has brokered the $4.7 million sale of a 25-unit apartment building located at 1 Samoset Ave. in Mansfield, roughly 33 miles south of Boston. According to Marcus & Millichap, the property is known locally as “The Grain Mill” and was converted from that use to residential in 1981. The community comprises 24 one-bedroom apartments and a two-bedroom penthouse. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which were local limited liability companies, in the …
PROSPER, TEXAS — Dallas-based developer SWBC has broken ground on The Royalton at Prosper, a 270-unit project in Prosper, about 40 miles north of Dallas. The community will offer one-, two- and three-bedroom floor plans. Select units will feature yards and direct-access garages. Amenities will include a clubhouse with a business center, fitness center and pool with cabanas and grilling stations. Cross Architects is designing the project. Carleton Cos. is serving as the general contractor. The first units are expected to be available for occupancy next summer. The Royalton at …
SCHAUMBURG, ILL. — Bayshore Properties has secured $61.6 million for the refinancing of 21 Kristen Apartments, a 357-unit property in Schaumburg, roughly 30 miles west of Chicago. Greystone provided a $55.6 million Freddie Mac loan with a five-year term. 7Acres provided $6 million in preferred equity funds. Eric Rosenstock and Dan Sacks of Greystone structured the financing. 21 Kristen Apartments is a condo deconversion that Bayshore acquired in 2022. Bayshore has since invested more than $2.5 million in capital expenditures at the property. Of the total units, 30 percent are …
GOULDS, FLA. — Resia has sold Resia Old Cutler, a 390-unit community located at 22555 S.W. 107th Ave. in Goulds, about 30 miles southwest of Miami. Kayne Anderson purchased the asset for an undisclosed price. Resia Old Cutler was built in 2023 and offers one-, two- and three-bedroom units. Amenities include a multipurpose room, fitness center, children’s play area and a pool. Resia will continue to serve as property manager for the community.
SOUTH ELGIN, ILL. — Continental Properties has begun development of Authentix South Elgin, a 336-unit property in South Elgin, about 40 miles west of Chicago. The garden-style community will offer studio, one-, two- and three-bedroom layouts. Amenities will include a pool, outdoor grill area, clubhouse, fitness center and dog park. Pre-leasing is expected to begin in spring 2025, with move-ins slated for late summer 2025. Authentix Apartments, owned and operated by Continental Properties, is a national brand of residential communities offering garden-style apartments. Continental Properties is based in Menomonee Falls, …
NEW YORK CITY — Marcus & Millichap has arranged the sale of a mixed-use property located at 133 Eldridge St. in New York City’s Lower East Side neighborhood. The building rises five stories and features ground-floor retail space with residential units above. The asset traded hands for $6 million. Joe Koicim and Logan Markley of Marcus & Millichap’s Manhattan office marketed the property on behalf of the undisclosed seller and procured the buyer, a local private investor with assets nearby.
MIAMI AND AVENTURA, FLA. — Florida-based Advenir, which acquires, develops and manages multifamily and single-family rental communities, has entered into a partnership with Spanish global investment firm Azora to create “attainable” rental housing in various markets across the U.S. The deal creates a new, combined corporation called Advenir Azora, which will focus on acquisition, development, asset management, property management and fund services capabilities. Advenir Azora is expected to deploy more than $3 billion over the next five years in hopes of developing at least 10,000 new single-family rental homes and acquiring …
AVON, COLO. — JLL Capital Markets has arranged $73 million in construction financing for Traer Creek Apartments, a 242-unit development situated at 5471 East Beaver Creek Blvd. in Avon, about 1.5 miles from Beaver Creek Resort and 8.3 miles from Vail Ski Resort in Vail, Colorado. The borrower was a joint venture between Prime West and Columnar Investments. Leon McBroom and Will Haass led the JLL Capital Markets debt advisory team that represented the borrower. Once completed in 2026, Traer Creek Apartments will consist of three buildings that each rise …