News

Newmark Negotiates Sale of Three-Property Portfolio in Houston and Austin Metro Areas

by Channing Hamilton November 2, 2023

AUSTIN, KATY AND STAFFORD, TEXAS — Newmark has brokered the sale of the Long Star 3-pack, a three-property portfolio that totals 673 units across the Houston and Austin metropolitan areas. Nitya Capital sold the portfolio to Disrupt Equity for an undisclosed price. Zach Springer, Jim Young and Carter Mizell represented the seller in the transaction. The portfolio comprises Treehouse, Stonecreek and Waterstone Place. Treehouse, located at 2501 Wickersham Lane in Austin, encompasses 297 units on a 12.5-acre site. Stonecreek is located at 20000 Saums Road in Katy and offers 208 units with …

November 2, 2023

Woodlands of Crest Hill in Crest Hill, Illinois

Illinois Investment Sales Midwest News

JLL Capital Markets Brokers $95 Million Sale of Woodlands of Crest Hill in Chicago Suburb

by Channing Hamilton November 2, 2023

CREST HILL, ILL. — JLL Capital Markets has negotiated the $95 million sale of Woodlands of Crest Hill, a 730-unit community in the southwest Chicago suburb of Crest Hill. Kevin Girard, Mark Stern and Zach Kaufman led the JLL Investment Sales Advisory team that represented the sellers, a fund managed by DRA Advisors and Marquette Cos. The buyer was not disclosed. Woodlands of Crest Hill was built in 1972 and has undergone various renovations since 2018. The property offers studio, one- and two-bedroom units, with an average size of 649 square feet. Amenities …

November 2, 2023

Leasing & Marketing Michigan Midwest News

Friedman Communities Awarded Management of 1,500-Unit Portfolio in Detroit

by Channing Hamilton November 2, 2023

DETROIT — Friedman Communities, a Friedman Real Estate company, has taken over managing services for a portfolio of more than 1,500 units within the city of Detroit, including several historic buildings. The portfolio is focused on neighborhoods such as Midtown, Southwest Detroit and the East Jefferson corridor. Friedman Communities plans to renovate units within the historic buildings with stainless steel appliances, quartz countertops, new cabinetry and tiled showers.

November 2, 2023

Investment Sales News Texas

Institutional Property Advisors Brokers Sale of 211-Unit The Audrey Near Dallas

by Channing Hamilton November 1, 2023

MANSFIELD, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Audrey in the Dallas suburb of Mansfield. Carleton Cos. and M.R. Development sold the property to RPM and a fund managed by Roseview Investment Advisors for an undisclosed price. IPA’s Drew Kile, Joey Tumminello, Taylor Hill, Michael Ware, Jeff Kindorf and Will Balthrope represented the sellers and procured the buyers. The Audrey is a garden-style community that was built in 2021. The property offers 211 units across three stories. Units feature nine-foot …

November 1, 2023

Finance Investment Sales New Jersey News Northeast

JLL Capital Markets Arranges $27 Million in Financing for Edge Lofts in Hoboken, New Jersey

by Channing Hamilton November 1, 2023

HOBOKEN, N.J. — JLL Capital Markets has brokered the sale of and negotiated $27 million in financing for Edge Lofts in the New York City suburb of Hoboken. Edge Lofts comprises 69 units across two buildings located at 1405 Clinton and 1405 Adams St. The buildings each rise five stories, and were constructed in 2013 and 2019, respectively. Units come in one-, two- and three-bedroom floor plans. Amenities include a package room, resident lounge with a bar and TV, fitness center and a common terrace with grilling stations. JLL Capital Markets …

November 1, 2023

Build-to-Rent Finance News Texas

JLL Capital Markets Arranges Refinance for 142-Unit Build-to-Rent Community in San Antonio

by Channing Hamilton November 1, 2023

SAN ANTONIO — JLL Capital Markets has arranged the refinancing for Farm Haus, a 142-unit built-to-rent community in San Antonio. AHV Communities was the borrower. Matthew Putterman and John David Johnson led the JLL Capital Markets Debt Advisory team, which worked on behalf of the borrower to secure the four-year, fixed-rate loan through a life insurance company. Completed in 2022, Farm Haus offers units in two-, three and four-bedroom layouts. Units feature private yards, attached garages, smart home technology, stainless steel appliances and quartz countertops. Amenities include a lounge, community …

November 1, 2023

Residences at Durango in Durango, Colorado

Affordable Housing Colorado Development News Western

TWG to Convert Hotel in Durango, Colorado, Into $35 Million Affordable Housing Community

by Channing Hamilton November 1, 2023

DURANGO, COLO. — TWG will construct Residences at Durango, a $35 million affordable housing complex in the southwestern Colorado city of Durango. The project is an adaptive reuse of a former hotel, which is now set to be converted into 120 apartments. Units will come in studio, one- and two-bedroom floor plans, and will be affordable to tenants earning at or below 30 to 60 percent of the area median income. Amenities will include a business center, exercise facility, laundry facility, playground, picnic area and Wi-Fi connectivity in common areas. …

November 1, 2023

California Investment Sales News Western

IPA Arranges $106.6 Million Sale of 280-Unit Summerset Village in Los Angeles

by Channing Hamilton November 1, 2023

LOS ANGELES — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Summerset Village in the Chatsworth neighborhood of Los Angeles. An institutional buyer purchased the asset from an undisclosed seller for $106.6 million. Kevin Green, Joseph Grabiec and Gregory Harris of IPA represented the seller and procured the buyer. Summerset Village was built in 1986. The community comprises 280 apartments across 39 two-story buildings. Select units feature fireplaces, patios and direct access garages. Amenities include two pools, two hot tubs, a beach volleyball …

November 1, 2023

Investment Sales News Texas

Cooper Street Capital Purchases 174-Unit South Hill Apartments in San Antonio

by Channing Hamilton October 31, 2023

SAN ANTONIO — Cooper Street Capital has acquired South Hill Apartments, a 174-unit complex in southeast San Antonio. Zar Haro, Moses Siller, Bryan VanCura, Brian Booth and Phil Grafe of Northmarq represented the undisclosed seller in the transaction. South Hill Apartments was built in 1965 and offers one-, two- and three-bedroom units. Amenities include three pools, tennis courts, a playground and a business center.

October 31, 2023

Development Leasing & Marketing News Texas

Urban Moment Begins Pre-Leasing YardHomes Juniper Pointe in San Antonio

by Channing Hamilton October 31, 2023

SAN ANTONIO — Urban Moment, an Austin-based developer, has begun pre-leasing YardHomes Juniper Pointe, a 248-unit community in San Antonio. Units will come in one-, two- and three-bedroom floor plans, with each unit having 250 square feet of private outdoor space. Amenities include a pool, fitness center, outdoor grilling and dining stations, an outdoor event lawn and green spaces. The first move-ins at the property are scheduled to begin after a grand opening ceremony in November.

October 31, 2023

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