CHASKA, MINN. — Continental Properties has opened Springs at McKnight Lake, a 280-unit asset in the Minneapolis suburb of Chaska. Situated at 3 Oakridge Drive on the slopes overlooking McKnight Lake, Springs at McKnight Lake provides residents with a direct path to trails and water activities. The community offers studio, one-, two- and three-bedroom units. Amenities include a pool, clubhouse, outdoor grill area, fitness center, car care area and two dog parks.
ORANGE, N.J. — The Kislak Co. Inc. has arranged the $13.8 million sale of Wedgewood House, an 80-unit community in the New York City suburb of Orange. Joni Sweetwood of Kislak represented the seller in the transaction. Daniel Lanni of Kislak represented the buyer. Both parties requested anonymity. The garden-style complex was built on 1.8 acres in 1968 and was recently renovated. Units come in studio, one- and two-bedroom floor plans.
DALLAS — Marcus & Millichap Capital Corp. (MMCC) has arranged a $23 million acquisition loan for Maravilla, a 310-unit community in northwest Dallas. Ralph Rader of MMCC arranged the 10-year, fixed-rate loan on behalf of the buyer, a partnership led by Granite Towers Equity Group. According to Apartments.com, the property was built in 1967 and offers studio, one-, two- and three-bedroom floor plans. Units range in size from 450 to 1,350 square feet. Amenities include multiple pools, a clubhouse, pet park, playground, soccer field and outdoor grilling and dining stations. …
DALLAS – Marcus & Millichap has arranged the sale of Garrett Gardens and Moser Gardens, two communities in the Knox-Henderson neighborhood of Dallas. The two communities total 130 units, with Garrett Gardens offering 66 units and Moser Gardens comprising 64 units. The seller was a private partnership from out of state that had owned the properties for 33 years. The buyer was a Dallas-based owner-operator. Al Silva and Ford Braly of Marcus & Millichap’s Fort Worth office marketed the properties on behalf of the seller and procured the buyer.
TAMPA, FLA. — LD&D, an investment, development and design firm headquartered in Miami, has unveiled plans for its $200 million Cass Square mixed-use project in downtown Tampa. LD&D plans to break ground on Phase I of the project, a residential tower, this summer. The 28-story building will be called DoMo at Cass Square. DoMo at Cass Square will offer 360 units, as well as more than 45,000 square feet of amenities, a 586-space parking podium and 32,500 square feet of ground-floor retail. Planned amenities include a wellness area, 10,000 square …
ATLANTA — BWE has originated a $14.2 million Freddie Mac Forward tax-exempt loan for Villages at Carver, a 220-unit mixed-income community in Atlanta. The borrower was not disclosed. The loan will be used to fund renovations and permanent financing for the garden-style community. The loan features an 18-year fixed rate with two years of interest-only payments and has a 40-year amortization. As part of the recapitalization of the property, the Georgia Department of Housing and Community Affairs also allocated new four percent Low-Income Housing Tax Credits. Villages at Carver is …
BELLFLOWER, CALIF. — The Colliers Structured Finance Group (SFG) has negotiated a $27.8 million Fannie Mae loan for the refinancing of Edgeway, a 91-unit complex in the Los Angeles suburb of Bellflower. Jonathan Lee, Bill Hyatt and Shahin Yazdi of Colliers SFG arranged the loan, which is priced at 5.5 percent for five years. The borrower was Serrano Development Group. Built in 2023, Edgeway offers one-, two- and three-bedroom apartments with quartz countertops, in-unit washers and dryers, stainless steel appliances and private balconies. Community amenities include a pool, spa and …
ST. PAUL, MINN. — Dominium has completed the final phase of Upper Post Flats, an affordable housing project that repurposed buildings at the historic Fort Snelling site in St. Paul. The complex was developed as part of a public-private partnership that included the site’s owner, the Minnesota Department of Natural Resources, the National Park Service, Hennepin County, Minneapolis Park and Recreation Board and the Minnesota Historical Society, which operated the historic fort. Minneapolis-based BKV Group served as the architect. The site comprised 26 buildings across 42 acres, including barracks, an …
HOUSTON — Eastham Capital and Mosaic Residential have partnered to acquire Sola Westchase, a 318-unit community in Houston’s Westchase neighborhood. Eastham Capital has invested in the deal through its current fund, Eastham Capital Fund VI. Mosaic will oversee management services for the property. The acquisition price was not disclosed. Sola Westchase was built in 1999 and is situated at 3354 Rogerdale Road. The property offers one-, two- and three-bedroom units that range from 626 square feet to 1,436 square feet in size. The average rent at the community is $1,400/month. …
BELLEVUE, WASH. — A buyer operating under the name 1830 108th VISEA LLC has purchased Bellefield Major, a 44-unit property located in Bellevue, for $16.1 million. Bellefield Manor is located at 1830 108th Ave. SE in the city’s downtown area. The community is situated within a half mile of the Sound Transit South Bellevue light rail station, which is slated to open in the spring of 2025. The buyer plans to make cosmetic upgrades to the value-add asset, which has already undergone interior and exterior renovations over the past decade. …