WOOD-RIDGE, N.J. — Hudson Atlantic has arranged the $3.6 million sale of The Highlander, a 19-unit community in the northern New Jersey borough of Wood-Ridge. Adam Zweibel and Dante Fusaro of Hudson Atlantic brokered the deal. The buyer and seller were not disclosed. The seller originally developed The Highlander in 1977. According to Apartments.com, the property exclusively offers one-bedroom floor plans.
WEATHERFORD, TEXAS — Cushman & Wakefield has arranged the sale of Remington Ridge, a 257-unit community in Weatherford. Juniper Investment Group purchased the asset from Trinity Capital Group for an undisclosed price. Asher Hall and Grant Raymond of Cushman & Wakefield represented the seller in the transaction. Remington Ridge is a two-phase development. The first phase comprised 133 units and was completed in 2022. The second phase is currently underway and will deliver an additional 124 units. Amenities include a clubhouse with business center, game room, fitness center with yoga …
SALEM, N.H. — The Dolben Co. has completed Caro Tuscan Village, a 260-unit development in Salem. Caro Tuscan Village is situated on a 7.7-acre site within Tuscan Village, a mixed-use project that is a redevelopment of the former Rockingham Park horseracing complex. Units come in studio, one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, conference room, clubroom and outdoor grilling and dining stations. HDS Architecture designed the project. Pilot Construction was the general contractor.
DENVER — Berkadia has negotiated $81.2 million in joint venture equity for the development of Alexan Pena Station, a 578-unit development in Denver. Trammel Crow Residential was the sponsor. Cody Kirkpatrick, Chinmay Bhatt and Noam Franklin of Berkadia JV Equity & Structured Capital arranged the joint venture equity partnership on behalf of the sponsor. Berkadia secured the equity through MBK Rental Living, a privately held real estate investment and development firm. Alexan Pena Station will comprise 12 buildings on a 20-acre site. The community will offer one-, two- and three-bedroom …
ST. LOUIS — Brinkmann Constructors has completed 11th and Spruce, a 148-unit complex in downtown St. Louis. The community offers amenities such as a fitness center, clubroom, courtyard, pet spa, dog run and rentable work-from-home space. The property also includes 3,000 square feet of ground-floor retail space. Balboa Real Estate Partners was the developer. TR,i Architects designed the community.
MAPLE GROVE, MINN. — CBRE has arranged the sale of Avery Park, a 124-unit build-to-rent community in the northwestern Minneapolis suburb of Maple Grove. Avery Park offers 42 detached homes averaging 2,262 square feet and 82 townhomes averaging 1,687 square feet. The property was completed in 2023. Curtis Capital Group purchased the asset for an undisclosed price. Ted Abramson, Keith Collins and Abe Appert of CBRE represented the seller, which was also not disclosed.
COLORADO SPRINGS, COLO. — Inland Private Capital Corp. (IPC) has brokered the sale of Estate at Woodmen Ridge Apartment Homes, a 260-unit complex in Colorado Springs. The property is located at 5520 Woodmen Ridge View and consists of 13 residential buildings. Amenities include a clubhouse with a fitness center, theater room, game room, business center, pool and spa, putting green, dog park, bike repair station and outdoor fireplace. The community was 93 percent occupied at the time of sale. IPC brokered the deal on behalf of Colorado Springs Multifamily DST, …
LIBERTY HILL, TEXAS — Greysteel has negotiated the sale of a 15-acre development site in Liberty Hill, about 40 miles north of Austin. J.R. Ellis of Greysteel brokered the transaction. The buyer and seller were not disclosed. The site is approved for the construction of a 345-unit community, which will include a workforce housing component. A construction timeline was also not disclosed.
LONG BRANCH, N.J. — Kushner has begun constructing a $130 million development in Long Branch, a beachside city in northern New Jersey. Minno + Wasko Architects & Planners designed the property. The first units are expected to be available for occupancy in late 2025. The community will offer 299 units across two four-story buildings. Units will come in studio, one-, two- and three-bedroom floor plans. Planned amenities include a pool, fitness center, co-working lounge, golf simulator, rooftop terraces, social lounges, pet spa, a children’s playroom and outdoor grilling and dining …
WASHINGTON, D.C. — The Biden Administration has planned an announcement to impose a limit on annual rent hikes at properties that have received support from the Low-Income Housing Tax Credit (LIHTC) program, according to a senior administration official. The new regulation would cap annual rent increases for these properties at ten percent. The Mortgage Banking Association (MBA) criticized the policy in a prepared statement on March 29. “Rent control has consistently proven to be a failed policy that discourages new construction, distorts market pricing, and leads to a degradation of …