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Woodmont Way at West Windsor in West Windsor, New Jersey
FinanceNew JerseyNewsNortheast

JLL Brokers Refinancing for 443-Unit Woodmont Way at West Windsor Near Trenton, New Jersey

by Channing Hamilton

WEST WINDSOR, N.J. — JLL Capital Markets has arranged permanent financing for Woodmont Way at West Windsor, a garden-style community in West Windsor, 12 miles northeast of Trenton, New Jersey. The borrower, Woodmont Properties, will use the funds to refinance the property. Thomas Didio, Thomas Didio Jr., Salvatore Buzzerio and Benjamin Morgenthal led the JLL Capital Markets Debt Advisory team, which represented Woodmont Properties in the transaction. Woodmont Way at West Windsor was built in 2022. The property comprises 443 units across 13 buildings. Units come in one-, two- and three-bedroom …

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Alexan Summerhill in Atlanta
DevelopmentGeorgiaInvestment SalesNewsSoutheast

Cushman & Wakefield Arranges Sale of 315-Unit Alexan Summerhill in Atlanta

by Channing Hamilton

ATLANTA — Cushman & Wakefield has arranged the sale of Alexan Summerhill, a recently built 315-unit community in Atlanta’s Summerhill neighborhood. Weinstein Properties purchased the asset from the developers, Trammell Crow Residential and PGIM Real Estate, for an undisclosed price. Robert Stickel, Alex Brown, Ashlyn Warren, Michael Kay and Sim Patrick of Cushman & Wakefield represented the sellers in the transaction.  Alexan Summerhill was built in 2022 as part of an ongoing 72-acre transformational mixed-use redevelopment plan. The community will feature direct access to the adaptive reuse retail spaces on …

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Affordable HousingDevelopmentFinanceNewsSoutheastVirginia

Advantage Capital Provides Financing for Affordable Housing Development in South Hill, Virginia

by Channing Hamilton

SOUTH HILL, VA. — Advantage Capital has provided financing to construct Mecklenburg Manor, a 51-unit affordable housing community in South Hill, a rural town 80 miles south of Richmond. Mecklenburg Manor will comprise seven buildings. The complex will offer one-, two- and three-bedroom units to households earning between 40 and 60 percent of the area median income.  The company has partnered with Gateway Development Associates and NFP Affordable Housing Corp. to construct the community. Advantage Capital invested in the development through the Virginia Housing Opportunity Tax Credit program, which is …

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Margo at The Society in San Diego
CaliforniaInvestment SalesNewsWestern

Decron Properties Acquires Margo at The Society in San Diego for $125.5 Million

by Channing Hamilton

SAN DIEGO — Decron Properties has purchased Margo at The Society, a 240-unit property located at 201 Del Sol Drive in San Diego, for $125.5 million. The seller was not disclosed. The acquisition was completed through a 1031 exchange. Decron Properties sold two assets in Thousand Oaks, California — Los Robles Apartments for $102.5 million and Retreat at Thousand Oaks for $69 million — and reinvested a portion of those funds into Margo at The Society.  Margo at The Society comprises 240 apartments in one-, two- and three-bedroom layouts. Units …

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Randolph Perimeter in Sandy Springs, Georgia
DevelopmentFeaturesFinanceNewsNortheastOperationsWashington, D.C.

Legislation to Establish Workforce Housing Tax Credit Introduced in U.S. Congress

by Channing Hamilton

WASHINGTON, D.C. — Senate Finance Committee Chair Ronald Wyden (D-Ore.), Sen. Daniel Sullivan (R-Alaska) and U.S. Representatives James Panetta (D-Calif.) and Michael Carey (R-Ohio) have introduced the Workforce Housing Tax Credit Act into the U.S. House and Senate. The bipartisan proposal would establish a Workforce Housing Tax Credit (WHTC) that would complement the Low-Income Housing Tax Credit (LIHTC). The Workforce Housing Tax Credit Act would establish a public-private partnership that allows state housing agencies to issue credit allocations to developers through a competitive process. These credit allocations would then subsequently …

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FinanceFloridaNewsSoutheast

Greystone Provides $22 Million to Refinance Three Communities in Tampa, Florida

by Channing Hamilton

TAMPA, FLA. — Greystone has provided a total of $22 million to refinance three communities in Tampa. The loans feature a private-label offering and carry five-year terms with fixed rates and 30-year amortizations, including interest-only payments for periods ranging one to five years. Anthony Cristi, managing director at Greystone, originated the financing. The properties include: the 33-unit Palms at Humphrey; the 36-unit Oaks at University; and the 95-unit Uptown Gardens.

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The Oak at Katy Park in Katy, Texas
DevelopmentNewsTexas

Wayfinder Real Estate, Read King Commercial Real Estate Break Ground on The Oak at Katy Park Near Houston

by Channing Hamilton

KATY, TEXAS — Wayfinder Real Estate and Read King Commercial Real Estate have broken ground on The Oak at Katy Park, a 348-unit community in the Houston suburb of Katy. The property will offer amenities such as a pool, pickleball court, co-working space, sauna, outdoor kitchens and a fitness center. The community is scheduled to be completed in mid-2025, with the first residents expected to move in earlier that year. Meeks Architects designed the property. Norris Design is the landscape architect. Wayfinder Design is the interior designer. OHT Construction is …

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Investment SalesNew JerseyNewsNortheast

The Kislak Co. Brokers $3 Million Sale of Riverbank Commons Apartments in Trenton, New Jersey

by Channing Hamilton

TRENTON, N.J. — The Kislak Co. Inc. has arranged the sale of Riverbank Commons in Trenton. Barry Waisbrod of Kislak represented the seller, River Bank Rentals LLC, in the transaction. The buyer was an entity doing business as NJ Mercer Investments Realty LLC. The building comprises 30 units across three stories. The unit mix includes three efficiency apartments, 12 one-bedroom units and 15 two-bedroom units.

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Investment SalesNewsTexas

The Multifamily Group Negotiates Sale of 128-Unit Midtown Apartments in Temple, Texas

by Channing Hamilton

TEMPLE, TEXAS — The Multifamily Group (TMG) has arranged the sale of Midtown Apartments in Temple, approximately 70 miles north of Austin. Paul Yazbeck of TMG represented the seller in the deal. Jon Krebbs procured the buyer. Both parties requested anonymity. Midtown Apartments was built in 1971. The community offers one- and two-bedroom units, as well as amenities such as a pool, fitness center, basketball court, clubhouse and a picnic area.

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Cuvee in Glendale, Arizona
ArizonaInvestment SalesNewsWestern

Fore Property Co. Sells 310-Unit Cuvee in Glendale, Arizona for $86 Million

by Channing Hamilton

GLENDALE, ARIZ. — Fore Property Co. has sold Cuvee, a 310-unit complex in Glendale, to Pillar Communities for $86 million. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller in the deal. Cuvee was built in 2023 at 7200 N. 91st Ave. The property comprises 310 units and offers amenities such as two pools, a fitness center, clubhouse with TV lounges, game room, coffee bar and business center.

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