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South Creek in Chapel Hill, North Carolina
DevelopmentNewsNorth CarolinaSoutheast

Beechwood Carolinas Begins Constructing 120-Acre Mixed-Use Project in Chapel Hill, North Carolina

by Channing Hamilton

CHAPEL HILL, N.C. — Beechwood Carolinas, a division of The Beechwood Organization, has broken ground on South Creek, a 120-acre mixed-use project in Chapel Hill. The development site is located at 119 US Highway 15 501 S. Once completed, the project will offer 92 apartments, as well as 606 condominiums, 100 townhomes, 52,000 square feet of retail space and an 80-acre nature preserve with walking trails. Planned amenities include a fitness center, multiple club and lounge areas, dog park, fire pits, electric vehicle charging stations and bike parking spaces. Beechwood Carolinas …

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Le Rivage in Bossier City, Louisiana
Investment SalesLouisianaNewsSoutheast

Institutional Property Advisors Brokers Sale of 240-Unit Le Rivage in Bossier City, Louisiana

by Channing Hamilton

BOSSIER CITY, LA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Le Rivage, a 240-unit asset in Bossier City. Built in 2016, the garden-style community consists of two- and three-story buildings on a 16 acre-site. The sales price was not disclosed. Amenities include a pool, fitness center, business center, clubhouse, playground and dog park. The average unit size is 925 square feet. Le Rivage is situated approximately five miles from downtown Bossier City and downtown Shreveport.  John Hamilton, Will Balthrope and Drew …

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The Nolan Thomas Portfolio in Greenwich, Connecticut
ConnecticutInvestment SalesNewsNortheast

Marcus & Millichap Brokers $19 Million Sale of Mixed-Use Portfolio in Greenwich, Connecticut

by Channing Hamilton

GREENWICH, CONN. — Marcus & Millichap (NYSE: MMI) has arranged the sale of the Nolan Thomas Portfolio, a four-building, mixed-use portfolio in the southwestern Connecticut city of Greenwich. The 47,256-square-foot portfolio traded hands for $19 million. The portfolio consists of four buildings housing 10 apartments, 17 retail storefronts, 17 office suites and an 11,226-square-foot warehouse. Stephen Westerberg of Marcus & Millichap’s Manhattan office represented the undisclosed seller in the deal. The buyer was also not disclosed.

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ColoradoNewsOperationsPeople NewsWestern

RADCO Residential Appoints Amie Robertshaw as Vice President of Client Services

by Channing Hamilton

DENVER — Property management company RADCO Residential has appointed Amie Robertshaw to the role of vice president of client services. In this position, Robertshaw will be responsible for expanding the company’s third-party management portfolio and will work with department leads during management transitions, acquisitions and more. She will be based in Denver. Prior to joining RADCO Residential, Robertshaw served as vice president of client services at Asset Living. She also has held positions at Avanti Residential (previously known as Capital Real Estate LLC). She currently serves as the president of …

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317 and 321 22nd St. in Huntington Beach, California
CaliforniaInvestment SalesNewsWestern

CBRE Brokers $5.4 Million Sale of Two Fourplexes in Huntington Beach, California

by Channing Hamilton

HUNTINGTON BEACH, CALIF. — CBRE has arranged the sale of two neighboring fourplexes located at 317 and 321 22nd St. in Huntington Beach, about 20 miles southwest of Anaheim, California. The assets traded hands for a total of $5.4 million. Dan Blackwell and Mike O’Neill represented the seller, a local family trust, in the transaction.  Each two-story property comprises 4,101 rentable square feet. Both buildings offer a mix of one-, two- and three-bedroom apartments with either a patio or balcony. Additionally, each property features six single-car garages, one open-space parking …

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Havens at Palm Bay in Palm Bay, Florida
Build-to-RentDevelopmentFinanceFloridaNewsSoutheast

Stellar, AARE Secure $52.7 Million Construction Loan for Build-to-Rent Community in Palm Bay, Florida

by Channing Hamilton

PALM BAY, FLA. — Stellar Communities and Adam America Real Estate have secured LP equity and a $52.7 million non-recourse construction loan for Havens at Palm Bay, a 266-unit build-to-rent project located in Palm Bay in Florida’s “Space Coast” region. Max La Cava, Pier Barinci and Shane Ciacci of JLL Capital Markets arranged the financing. Havens at Palm Bay will offer single-story units in one-, two- and three-bedroom floor plans. Planned amenities include a pool, clubhouse, children’s playground, dog park, self-storage and detached parking. The development is slated to complete in 2026. …

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Valley View Park in East Hanover, New Jersey
DevelopmentLeasing & MarketingNew JerseyNewsNortheast

KRE Group Begins Leasing 239-Unit Valley View Park in East Hanover, New Jersey

by Channing Hamilton

EAST HANOVER, N.J. — Locally based developer KRE Group has begun leasing Valley View Park, a 239-unit community in East Hanover, approximately 30 miles west of Manhattan. The property was named after a golf course that occupied the site from 1937 to 1973. The project team broke ground on the community in April 2023.  The property consists of five four-story buildings, which house one- and two-bedroom units. Of the total unit count, 34 residences are subject to income restrictions. Amenities include a pool, fitness center, indoor and outdoor children’s play …

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DevelopmentFinanceInvestment SalesNew YorkNewsNortheast

IPA Capital Markets Arranges $75 Million Acquisition Financing for Manhattan Office-to-Multifamily Conversion Project

by Channing Hamilton

NEW YORK CITY — David Werner Real Estate Investments and Metro Loft Management have secured $75 million in acquisition financing for the former Pfizer headquarters in Midtown Manhattan. Max Herzog, Marko Kazanjian, Andrew Cohen and Max Hulsh of IPA Capital Markets, a division of Marcus & Millichap (NYSE: MMI), arranged the financing through Northwind Group. The new ownership will convert the 10-story office building, which is situated at 219 E 42nd St., into an apartment community by combining it with the adjacent property at 235 E 42nd St. Once completed, …

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Parkline Chicago in Chicago
IllinoisInvestment SalesMidwestNews

AmTrust RE Acquires 213-Unit High-Rise Community in Chicago’s East Loop

by Channing Hamilton

CHICAGO — AmTrust RE has purchased Parkline Chicago, a 26-story high-rise community located at 60 E. Randolph St. in Chicago’s East Loop neighborhood. The 210,000-square-foot building consists of 213 units, including 189 standard rental units and 24 penthouses. The property also includes 6,200 square feet of retail space. Apartments at Parkline Chicago feature wood-grained flooring, undercabinet lighting and quartz countertops. Community amenities include a two-story sky lounge, fitness and yoga studio, indoor-outdoor pool with an attached sundeck and dog run. John Jaeger, Justin Puppi and Jason Zyck of CBRE arranged …

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Ponderosa Park in Flagstaff, Arizona
ArizonaInvestment SalesNewsWestern

Institutional Property Advisors Arranges $28 Million Sale of Ponderosa Park in Flagstaff, Arizona

by Channing Hamilton

FLAGSTAFF, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), has arranged the sale of Ponderosa Park in Flagstaff. Bridge Partners acquired the 120-unit property from Keller Investment Properties for $28 million.  Ponderosa Park was built in 1985. The property is located on five acres across the street from Buffalo Park, a 215-acre park with a two-mile hiking trail. The community offers amenities such as two laundry facilities, a clubhouse, fitness center and 24-hour emergency maintenance services. IPA’s Steve Gebing, Cliff David and Hamid Panahi …

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