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Freestone on Main in Bozeman, Montana
DevelopmentFinanceMontanaNewsWestern

JLL Capital Markets Arranges $47 Million for Freestone on Main in Bozeman, Montana

by Channing Hamilton

BOZEMAN, MONT. — JLL Capital Markets has arranged the $32 million construction financing and the $15 million equity placement for the development of Freestone on Main in Bozeman. JLL worked on behalf of the sponsor, Reuter Walton, to secure the three-year, floating-rate loan through a regional bank. JLL also sourced the joint venture equity from a real estate investment manager. Mox Gunderson, Scott Loving and Adam Haydon led the JLL Capital Markets team. Freestone on Main will comprise 121 apartments in studio, one- and two-bedroom floor plans. The property will …

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DevelopmentInvestment SalesNew JerseyNewsNortheast

CBRE, Cushman & Wakefield Broker $58 Million Sale of Harborside 4 in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — CBRE and Cushman & Wakefield have brokered the $58 million sale of Harborside 4, a 1.3-acre site located at 20 Christopher Columbus Drive in Jersey City. Veris Residential sold the lot to Related Cos., which plans to develop an 800-unit high-rise building. Additional details about the project were not disclosed. Jeff Dunne, Bill Shanahan and Roland Merchant of CBRE co-brokered the deal in coordination with Cushman & Wakefield’s Andy Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso, Ryan Dowd and Brian Whitmer.

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FinanceNew JerseyNewsNortheast

Eastern Union Secures $74.2 Million Construction Loan for 256-Unit Project in Teaneck, New Jersey

by Channing Hamilton

TEANECK, N.J. — Eastern Union has secured $74.2 million to refinance a construction loan for a 256-unit project currently under development in the northern New Jersey city of Teaneck. The transaction features a 36-month term and carried a 75-percent loan-to-cost ratio. The interest rate was set at 7.8 percent, with interest-only payments for the full term. Gabriel Sasson, a senior associate with Eastern Union, brokered the loan. Located at 329 Alfred Ave. near Route 4, the property rises six stories and comprises 250,000 square feet. The property owner and the lender …

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Refinery at Pointe17 in Phoenix
ArizonaDevelopmentNewsWestern

Thompson Thrift to Develop 224-Unit Refinery at Pointe17 in Phoenix

by Channing Hamilton

PHOENIX — Thompson Thrift plans to develop Refinery at Pointe17, a 224-unit community to be located near the $40 billion Taiwan Semiconductor Plant in northern Phoenix. Construction is set to begin this month, with completion slated for the second half of 2025. Refinery at Pointe17 will feature 224 one-, two- and three-bedroom apartments with an average size of 1,000 square feet. Amenities will include a pool, fitness center, yoga and spin studio, bike storage, community grilling areas, pickleball courts, business center, rooftop deck, event lounge, EV chargers, dog park and pet …

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Enclave Crystal Lake in Crystal Lake, Illinois
IllinoisLeasing & MarketingMidwestNews

RMK Management Corp. Named Property Manager for Enclave Crystal Lake in Chicago Suburb

by Channing Hamilton

CRYSTAL LAKE, ILL. — RMK Management Corp. will take over property management services for Enclave Crystal Lake, a new community currently under construction in the Chicago suburb of Crystal Lake. Harlem Irving Cos. is the developer for the project. Once completed, Enclave Crystal Lake will offer 51 rental townhomes and 48 apartment units. Construction is complete and leasing has begun for phase one of the community’s townhomes. Move-ins are expected to begin in early November. Townhomes come in two- and three-bedroom layouts, with open-concept kitchens and family rooms and attached two-car …

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Leasing & MarketingMidwestMissouriNews

High Street Residential Begins Leasing The James in Kirkwood, Missouri

by Channing Hamilton

KIRKWOOD, MO. — High Street Residential, the residential subsidiary of Trammell Crow Co., has begun leasing The James in the St. Louis suburb of Kirkwood. The James offers 152 apartments, as well as more than 7,000 square feet of ground-floor retail space. Units come in studio, one-, two- and three-bedroom layouts. Amenities include a pool, clubroom, private dining area, fitness center, indoor bike storage, work-from home center, pet wash and pet exercise area. The project is Trammell Crow Co.’s first multifamily project in the St. Louis market. Brinkmann Constructors is …

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CaliforniaInvestment SalesNewsWestern

CBRE Negotiates $4.8 Million Sale of 11-Unit Community in Metro Los Angeles

by Channing Hamilton

TORRANCE, CALIF. — CBRE has brokered the $4.8 million sale of an 11-unit community in the Los Angeles suburb of Torrance. CBRE’s Dan Blackwell and Trey Mitchell represented the locally-based private exchange buyer. The seller was headquartered in Los Angeles. Constructed in 1964, the asset sits on approximately 0.2 acres in the Old Town Torrance neighborhood. The property offers one-, two- and three-bedroom units. Amenities include an on-site laundry facility. Over the past two years, the building has been updated with new plumbing and drain lines, electrical, windows, exterior paint and repairs, …

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Kenect Nashville in Nashville, Tennessee
FinanceNewsSoutheastTennessee

JLL Arranges $101.2 Million Refinancing for Kenect Nashville in Nashville, Tennessee

by Channing Hamilton

NASHVILLE, TENN. — JLL Capital Markets has arranged the $101.2 million refinancing for Kenect Nashville, a 420-unit high-rise community in Nashville’s Midtown neighborhood. The borrower, Akara Partners, secured the loan through MF1. Jesse Wright, Kenny Cutler, Brian Dawson, Joshua Odessky and J.J. Hovenden led the JLL Capital Markets Debt Advisory team. Sitiated at 800 19th Ave. South, Kenect Nashville is located in proximity to Vanderbilt University, Belmont University and Nashville’s Music Row historic district, which is considered the heart of the city’s entertainment industry. According to Apartments.com, the property was built …

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Investment SalesNewsTexas

Trion Properties Acquires 471-Unit Riverbend Apartments in Lancaster, Texas

by Channing Hamilton

LANCASTER, TEXAS — Trion Properties has acquired Riverbend Apartments, a 471-unit complex in the southern Dallas suburb of Lancaster. Riverbend Apartments features 181 one-bedroom units and 290 two-bedroom units. Amenities include three pools and multiple play areas for children. The seller and sales price were not disclosed. Trion Properties plans to implement a value-add program for the community.

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DevelopmentNewsNorth CarolinaSoutheast

Camden Property Trust Opens 420-Unit Camden Durham in Durham, North Carolina

by Channing Hamilton

DURHAM, N.C. — Camden Property Trust has opened Camden Durham, a 420-unit community located at 441 Dillard St. in downtown Durham. The complex offers one-, two- and three-bedroom apartments, as well as 14 one- and two-bedroom townhome-style units. Amenities include a pool, 24-hour athletic club, resident lounge and community workspace, barbecue grills and a lawn for gatherings. The property also features 5,945 square feet of ground-floor retail space, which is currently available for lease.

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