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Millennium Crest
FinanceNewsTexas

Colliers Provides $55.9 Million in Construction Financing for Project in Denton, Texas

by Channing Hamilton

DENTON, TEXAS — Colliers Mortgage has provided a $55.9 million HUD-insured loan for the construction of Millennium Crest, a 245-unit project in Denton, about 40 miles northwest of Dallas. Millennium Crest will offer 20 studios, 155 one-bedroom units and 70 two-bedroom units. Planned amenities include a clubhouse, fitness center, pool, rooftop lounge and a dog park. Kevin Gould of Colliers Mortgage originated the debt, which carries a 40-year term and amortization schedule, on behalf of the developer, an entity doing business as Millennium Crest LP.

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The Switchyard
ArizonaDevelopmentNewsWestern

Creation Breaks Ground on $120 Million Mixed-Use Project Near Phoenix

by Channing Hamilton

QUEEN CREEK, ARIZ. — Creation, in partnership with Horizon Real Estate Ltd., has broken ground on The Switchyard, a $120 million mixed-use project in Queen Creek, about 40 miles southeast of Phoenix. The 10-acre project will feature 54,000 square feet of restaurant, retail and office space, as well as a 215-unit apartment community. The development will feature a Postino restaurant and wine café. The restaurant mix will also include Snooze, an A.M. Eatery, a breakfast and brunch restaurant founded in Denver, and a location of modern burger chain Shake Shack. …

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IllinoisInvestment SalesMidwestNews

Woodland Rental Properties Acquires 22 Units in Marion, Illinois

by Channing Hamilton

MARION, ILL. — A division of Woodland Rental Properties LLC, managed by Heartland Realty & Rentals Inc., has acquired 22 recently built apartments situated near downtown Marion, a city located roughly 120 miles southeast of St. Louis, Missouri. The company states that the deal is part of a larger strategic investment. Roman Basi and Jason Powell represented Heartland on an internal basis. The units will be available for leasing as they come online.

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Kristi Nootens, Waterton (Courtesy of Waterton)
New YorkNewsNortheastPeople News

Waterton Adds Kristi Nootens as Senior Vice President

by Channing Hamilton

NEW YORK CITY — Waterton, an investor and operator headquartered in Chicago, has hired Kristi Nootens as senior vice president of development. In this role, Nootens will originate and structure both mezzanine/preferred equity and joint ventures in development deals. She will be based in New York City. Nootens will work with the company’s acquisition, construction management and research teams. She will also be responsible for Waterton’s development investment strategy. She will work with the firm’s Capital Markets team in order to originate multifamily debt investments, including senior loans and mezzanine …

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Ocotillo Bay
ArizonaInvestment SalesNewsWestern

TGM Buys 296-Unit Community in Chandler, Arizona, for $90.5 Million

by Channing Hamilton

CHANDLER, ARIZ. — New York-based TGM has acquired Ocotillo Bay, a 296-unit community in Chandler, roughly 25 miles southeast of Phoenix. An undisclosed national fund manager sold the asset for $90.5 million.  Built in 1997, Ocotillo Bay offers features two pool areas with cabanas and barbecues; an outdoor lounge area with a bocce ball court, fireplace, barbecue and covered seating area; resident clubhouse with business center and TV seating area; and fitness center with weight training and cardio equipment, as well as a separate yoga/spin room. Asher Gunter, Matt Pesch, Sean …

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Parks at Delray
DevelopmentFloridaNewsSoutheast

ANF Delivers First Phase of 43-Acre Mixed-Use Project in Delray Beach, Florida

by Channing Hamilton

DELRAY BEACH, FLA. — ANF has delivered Phase I of Parks at Delray, a 43-acre mixed-use development located at 2100 S. Congress Ave. in Delray Beach, about 5.5 miles south of Fort Lauderdale, Florida. The first phase of Parks at Delray consists of 420 one-, two- and three-bedroom apartments ranging in size from 580 to 1,400 square feet, as well as three-bedroom townhomes ranging in size from 1,670 to 1,770 square feet. At full build-out, Parks at Delray will offer 747 apartments, approximately 10 percent of which will be designated as …

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Leasing & MarketingNewsOperationsPeople NewsTexas

Rebees Management Co. Hires Micah Hart as Chief Operating Officer

by Channing Hamilton

DALLAS — Rebees, a Dallas-based owner-operator of mixed-use properties, has hired Micah Hart as the new chief operating officer (COO) of Rebees Management Co. Hart will be based in Houston. Hart will oversee operations at Sugar Land Town Square, GreenStreet and Autry Park. He will also oversee the platform’s growth into the Henderson Avenue development in Dallas, along with various other projects. Finally, Hart will lead Rebees Management Co.’s strategic initiative to launch a multifamily property management platform. Previously, Hart held positions at Parkway, Midway, The Hanover Co. and PM …

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Westmount Realty Capital
Investment SalesNewsTexas

Westmount Realty Capital Sells 164-Unit in Arlington, Texas

by Channing Hamilton

ARLINGTON, TEXAS — Dallas-based investment firm Westmount Realty Capital has sold a 164-unit complex in Arlington. Westmount at Forest Oaks was built on 7.4 acres in 1980. The garden-style property offers one- and two-bedroom apartments with an average size of 736 square feet. Amenities include a pool, playground and fitness center. Westmount bought the property in 2016 and undertook renovations. William Hubbard, Michael Ware, Taylor Hill, Drew Kile and Joey Tumminello of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented Westmount Realty Capital in the transaction. The …

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Brian Soss, RangeWater Real Estate
GeorgiaInvestment SalesNewsPeople NewsSoutheast

RangeWater Names Brian Soss as Executive Managing Director of Acquisitions

by Channing Hamilton

ATLANTA —RangeWater Real Estate has named Brian Soss to the role of executive managing director of acquisitions. Soss will lead the Atlanta-based company’s acquisitions strategy, identifying and securing investment opportunities. Prior to joining RangeWater, he served as co-head of multifamily asset management for Starwood Capital Group. He also previously held key positions at MetLife Investment Management. Soss received a Bachelor of Arts in economics from the University of Vermont and a Master of Business Administration from Georgetown University’s McDonough School of Business.

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Build-to-RentDevelopmentMidwestNebraskaNews

Stark Enterprises Secures Construction Financing for Build-to-Rent Community in Gretna, Nebraska

by Channing Hamilton

GRETNA, NEB. — Stark Enterprises, in partnership with Stark Living and Arbor Construction, has secured construction financing for Teal Ridge Village, a 244-unit build-to-rent (BTR) project in Gretna, about 22 miles southwest of Omaha, Nebraska. Teal Ridge Village will feature one-, two- and three-bedroom single-level residences on a 43.7-acre site. Each home will offer granite countertops, stainless steel appliances, covered front porches, private patios, walk-in closets and attached two-car garages. Units will also include internet connectivity, cable access and in-unit washer and dryer systems. Residents will have access to amenities …

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