News

Buckley Apartments in Plano, Texas

PLANO, TEXAS — Rosewood Property Co. has begun construction on The Buckley, a 338-unit community in the northern Dallas suburb of Plano. The Buckley is the sister property of The Ludlow, which began leasing in September 2023. Both properties are located within the 156-acre Heritage Creekside master-planned development. The Buckley will offer studio, one-, two- and three-bedroom units. Amenities include a pool, multiple lounge areas, a club and card room, fitness center, coworking areas and a dog park. MetLife Investment Management is the equity partner for the development. Broadway Bank …

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3ELEVEN in New York City

NEW YORK CITY — Newmark Group Inc. and Greystone Capital Advisors have arranged $560 million in floating-rate debt for the refinancing of 3ELEVEN, a 60-story high-rise community located just south of Manhattan’s Hudson Yards district. Ares Management and Douglaston Development were the borrowers. Jordan Roeschlaub and Nick Scribani of Newmark, in collaboration with Jonathan Firestone, Drew Fletcher, Paul Fried and Bryan Grover of Greystone Capital Advisors, arranged the debt. The financing will repay the HSBC construction loan. 3ELEVEN comprises 938 apartments in studio through three-bedroom layouts. Community amenities include a pool with cabanas, …

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PARIS, TEXAS — Dallas-based brokerage firm The Multifamily Group has brokered the sale of The Regency, a 100-unit community in Paris, approximately 100 miles northeast of Dallas. Yonnic Land of TMG represented the seller and procured the buyer in the deal. Both parties requested anonymity. The Regency was built in 1985. The community offers one-, two- and three-bedroom units. Amenities include a pool, onsite laundry facilities and outdoor grilling and dining stations.

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Preserve on Ash in Detroit

DETROIT — The Community Builders has broken ground on the first phase of Preserve on Ash, a mixed-income housing development that will comprise 600 new and preserved units of affordable housing in the Greater Corktown neighborhood of Detroit.  Phase I will comprise five buildings housing 69 apartment units and more than 5,800 square feet of retail space. Of the total unit count, 48 will be reserved for households earning up to 60 percent of the area median income. Phases II and III of Preserve on Ash are expected to begin …

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Amavida Marana in Marana, Arizona

MARANA, ARIZ. — Ascent Cos. and Vanderbuild have opened Amavida Marana, a 200-unit community in Marana, 20 miles northwest of Tucson, Arizona. Located at 5555 W. Ina Road, Amavida Marana offers one-, two- and three-bedroom floor plans. Amenities include a four-acre community park, four pickleball courts, a playground, a walking and jogging loop, dog park, EV chargers, an indoor/outdoor fitness center, pool, hot tub, pet washing stations and a clubhouse. Bryten Real Estate Partners is the property manager.

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VANCOUVER, WASH. — Vista Residential Partners, along with PCCP and Principal Asset Management, has broken ground on One26 Vista, a 238-unit project in Vancouver. LSW Architects designed the asset. Atlanta-based Krevolin & Horst represented Vista Residential Partners in the closing. Situated on nine acres on NE 72nd Avenue, the garden-style community offers one-, two- and three-bedroom floor plans. The average unit size is 920 square feet. Planned amenities include a clubhouse, fitness center, pool, hot tub, enclosed dog park and package concierge.

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HOOVER, ALA. — Greystone has provided a $14.5 million Fannie Mae Delegated Underwriting & Servicing loan for the refinancing of 700 Riverchase, a 216-unit property in the southern Birmingham, Alabama suburb of Hoover. The non-recourse, fixed-rate financing features a five-year term and 30-year amortization, with interest-only payments for the full term of the loan. Rob Meehan of Greystone originated the financing, with HKS Capital Partners acting as correspondent. The borrower was not disclosed. Built in 1983, 700 Riverchase comprises 12 buildings. Units come in one-, two- and three-bedroom floor plans. …

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The Parker Aiken Apartments in Aiken, South Carolina

AIKEN, S.C. — IPA Capital Markets, a division of Marcus & Millichap (NYSE: MMI), has arranged $37.3 million in construction financing for The Parker Aiken Apartments, a 336-unit development in Aiken, 20 miles northeast of Augusta, Georgia. The borrower was New York City-based developer JEM Holdings. Max Herzog, Marko Kazanjian and Andrew Cohen of IPA Capital Markets secured the seven-year, fixed-rate loan through Protective Life Insurance Co. The Parker Aiken Apartments will comprise 14 buildings on a 30-acre site. Planned amenities include a clubhouse with fitness center, co-working spaces, an outdoor grilling …

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The Prairie Encore in Dardenne Prairie, Missouri

DARDENNE PRAIRIE, MO. — Mia Rose Holdings has broken ground on The Prairie Encore, a $90 million mixed-use development in the northwest St. Louis suburb of Dardenne Prairie.  The four-story building will feature 190 apartment units. Amenities will include two interior courtyards, a 3,000-square-foot lobby with a leasing office, coffee bar, fitness center, coworking spaces, dog park, pool and community gathering spaces. The property will also feature commercial space, such as a Sugarfire Smokehouse with sand volleyball and pickleball courts, Macadoodles, Smalls Sliders, Beer & Spirits, Starbucks, a Circle K …

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DETROIT — Matthews Capital Markets (MCM), a financing division of Matthews Real Estate Investment Services, has negotiated an $8.7 million loan for the refinancing of New Cadillac Square Apartments in Detroit. Located at 111 Cadillac Square, the building comprises 221 units across 21 stories. Jack Quigley of MCM arranged the loan through a credit union. The floating-rate loan features a free rate lock ability at the borrower’s discretion.

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