RICHMOND, VA. — Capital Square has hired Jessica Correnti to the role of senior vice president of national accounts. In this position, she will oversee the firm’s existing relationships with broker-dealers and registered investment advisors and lead Capital Square’s pursuit of new relationships. Correnti previously served as director of national accounts for Peachtree Group and a senior vice president with Waypoint Real Estate Investments. She began her career with Morgan Stanley as a financial advisor in 2013 before transitioning into investment product distribution as a senior internal sales associate with …
COLUMBUS, OHIO — JLL Capital Markets has arranged $20 million in bridge financing for Hilliard Village, a 352-unit community in Columbus. JLL worked on behalf of the borrowers, Machine Investment Group and RH, to arrange the three-year, fixed-rate loan through The Bancorp Inc. Jamie Leachman, Medina Spiodic and Carter Wroblewski led the JLL Capital Markets Debt Advisory team representing the borrowers. Hilliard Village was originally built in 1973. Located at 3400 Twin Creeks Drive, the garden-style community is situated approximately 8 miles from Columbus’s downtown area. Units come in one-, two- and three-bedroom …
AURORA, ILL. — SVN | Chicago Commercial has arranged the sale of a 45,000-square-foot industrial property located at 325 S Union St. in Aurora, about 41 miles west of Chicago. The 111-year old building was originally utilized to manufacture vehicle parts during World War II. The undisclosed buyer plans to use historic tax credits to convert the building into market-rate multifamily housing. James Mead of SVN | Chicago Commercial represented the seller in the transaction.
CHICAGO — Interra Realty has brokered the sale of a five-building, 97-unit portfolio located on Chicago’s northwest side. Joe Smaza and Mark Dykstra of Interra Realty arranged the deal on behalf of the buyer, Silver Property Group Ltd., a Chicago-based real estate investment and management company. Interra Realty also represented the seller, an investment group based in the East Coast. The portfolio traded for $19.3 million. The portfolio consists of the following properties:
Trammell Crow Co. to Develop First Phase of 55.5-Acre Mixed-Use Project in Charlotte, North Carolina
CHARLOTTE, N.C. — Trammell Crow Co. has been selected to develop the first phase of Iron District, a 55.5-acre mixed-use project in the Uptown and South End neighborhoods of Charlotte. A subsidiary of Charlotte Pipe and Foundry Co. doing business as Iron District LLC selected Trammell Crow Co. as the developer of the project. Trammell Crow Co. will also assist in the master planning for the overall development. The project team also includes LandDesign, S9 Architecture and Of Place. Upon completion, the first phase of Iron District will feature 500 …
FORT WORTH, TEXAS — Marcus & Millichap has negotiated the sale of Cobble Hills, a 136-unit community located at 6050 Oakland Hills Drive in Fort Worth. The property consists of 12 buildings that house a mix of one-, two- and three-bedroom apartment units. Al Silva and Ford Braly of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, Obsidian Capital, and procured the buyer, an out-of-state family office. Additionally, Marcus & Millichap Capital Corp. (MMCC), a subsidiary of Marcus & Millichap, secured $7.5 million in acquisition financing for …
LISLE, ILL. — Waterton has acquired Avant at the Arboretum, a 310-unit community located at 450 Warrenville Road in Lisle, 26 miles west of downtown Chicago. The acquisition brings Waterton’s portfolio to more than 7,000 units in the Chicago metropolitan area. Built in 2013, Avant at the Arboretum offers one- and two-bedroom units. The building rises four stories. Community amenities include a pool, grilling stations, fitness center, clubroom, theater room, game room with billiards and a dog park. The property also includes a parking garage with 314 parking spaces, as …
CHARLOTTE, N.C. — RKW Residential (RKW), a property management firm based in Charlotte, has selected Kevin Owens for the role of president of property management. Most recently, Owens was the divisional president at RPM, where he oversaw all of the property management departments at his division, including marketing, operations, business development, property transitions, facilities and construction management. Additionally, RKW promoted Joya Pavesi to the newly created role of president of brand & strategic services. Pavesi previously served as RKW’s executive vice president of marketing & strategy. In her new role, …
WINTER GARDEN, FLA. — Ashcroft Capital has purchased Halston Waterleigh, a 354-unit garden-style community in Winter Garden, 17 miles west of downtown Orlando. Formerly known as Braxton Waterleigh, the property is situated within the 22,000-acre Horizon West master-planned community. The seller and sales price were not disclosed. Halston Waterleigh was built in 2021. The community offers one-, two- and three-bedroom units ranging from 769 to 1,484 square feet. Amenities include a pool with cabanas, fitness center, clubhouse, outdoor kitchen and grill area, pet wash, pet park, sand volleyball court, playground, EV …
PHOENIX — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Desert Club in Phoenix. Clarion Partners sold the property to Weidner Apartment Homes for $187.5 million. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the deal. Desert Club was built in 2004 on 21 acres. The garden-style community offers 497 units that average 983 square feet. Apartments feature open-concept floor plans, 9-foot ceilings and arched entryways. Community amenities include a pool and spa.