News

Soleste NoMi Beach in North Miami Beach, Florida

The Estate Cos. Secures $110 Million Refinancing for Soleste NoMi Beach in Miami Suburb

by Channing Hamilton November 19, 2024

NORTH MIAMI BEACH, FLA. — Miami-based developer The Estate Cos. has received a $110 million loan for the refinancing of Soleste NoMi Beach, a 367-unit community in North Miami Beach, roughly 17 miles north of Miami. Brian Gaswirth, Paul Adams and Val McWilliams of JLL Capital Markets arranged the floating-rate loan through Ares Management Corp. Located at 16395 Biscayne Blvd., Soleste NoMi Beach rises 22 stories. The building houses a mix of one-, two- and three-bedroom apartment units with an average size of 914 square feet. Residents have access to amenities such as a …

November 19, 2024

Finance Midwest Missouri News

Dwight Mortgage Trust Provides $56 Million Loan for Willow Creek Apartments in Kansas City, Missouri

by Channing Hamilton November 18, 2024

KANSAS CITY, MO. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $56 million bridge loan for Willow Creek Apartments in Kansas City. The loan will be utilized to refinance existing debt, complete remaining construction costs, cover closing costs and fund required escrows. David Scheer of Dwight Capital originated the financing on behalf of the borrower, KC Willow Creek LLC. Willow Creek Apartments consists of 998 apartments across 43 buildings. The garden-style community is situated on about 70 acres. Units come in one-, two- and three-bedroom …

November 18, 2024

Build-to-Rent Development Investment Sales New Mexico News Western

Paceline Acquires 17-Acres for Build-to-Rent Development in Santa Fe, New Mexico

by Channing Hamilton November 18, 2024

SANTA FE, N.M. — Affiliates of Paceline Equity Partners LLC, a Dallas-based private equity manager, have acquired 17 acres of land for the development of a build-to-rent community in Santa Fe. Once completed, the property will feature 183 single-family rental homes. The unnamed development will be Paceline’s first partnership with Verdot Capital, the project’s developer. A construction timeline was not disclosed.

November 18, 2024

Palladium Park Row Katy Living in Houston

Development News Texas

Palladium USA Breaks Ground on $33 Million Development in Houston

by Channing Hamilton November 18, 2024

HOUSTON — Palladium USA has begun the construction of Palladium Park Row Katy Living, a $33 million project in Houston. Once completed, the property will feature 93 units in one-, two- and three-bedroom layouts. Amenities will include a pool, fitness center, conference center, dog park, business center, children’s playroom and clubhouse with a mini kitchen. Palladium USA expects to deliver the first units, as well as the clubhouse, in December 2025. Pre-leasing is slated to begin in the fall of 2025. The development is the result of a public-private partnership …

November 18, 2024

Laguna Terrace in Laguna Beach, California

California Investment Sales News Western

CBRE Arranges $5.1 Million Sale of 12-Unit Property in Laguna Beach, California

by Channing Hamilton November 18, 2024

LAGUNA BEACH, CALIF. — CBRE has arranged the sale of Laguna Terrace, a 12-unit property located at 2200 S. Coast Highway in Laguna Beach, roughly 25 miles south of Anaheim, California. The asset traded hands for $5.1 million. Built in 1939, Laguna Terrace consists of four separate buildings across three adjacent lots totaling 0.5 acres. The unit mix includes 10 studios and two one-bedroom apartments. The total rentable space is 4,664 square feet. The community features laundry facilities, three separate storage rooms and a community shower and bathroom. The property …

November 18, 2024

Development New Jersey News Northeast

Kushner Nears Completion of $1 Billion The Journal in Jersey City, New Jersey

by Channing Hamilton November 18, 2024

JERSEY CITY, N.J. — Kushner is nearing completion of The Journal, a roughly $1 billion project positioned adjacent to the Journal Square PATH station in Jersey City’s Journal Square area. Kushner broke ground on the development in 2022. The Journal consists of two 64-story towers, which have been topped out. Pre-leasing efforts are slated to begin in early 2025. Upon completion, The Journal will consist of more than 2 million square feet, including 1,723 apartments and 45,000 square feet of amenity space. The property includes 40,000 square feet of ground-floor …

November 18, 2024

Affordable Housing Investment Sales News Northeast

Ariel Property Advisors Brokers $31.5 Million Sale of Affordable Housing Asset in Harlem

by Channing Hamilton November 15, 2024

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $31.5 million sale of an affordable housing building located at 34 W. 139th St. in the Harlem neighborhood of Upper Manhattan. Built in 2007, the property consists of 127 apartments. Victor Sozio, Shimon Shkury, Remi Mandell and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the deal. Income restrictions for the property, as well as the identity of the buyer, were also not disclosed.

November 15, 2024

Development News North Carolina Southeast

Crescent Communities Breaks Ground on 318-Unit Novel River District in Charlotte, North Carolina

by Channing Hamilton November 15, 2024

CHARLOTTE, N.C. — Locally based developer Crescent Communities has broken ground on Novel River District, a 318-unit community in Charlotte. UMB Bank provided an undisclosed amount of construction financing for the project. The community will feature a mix of studio, one- and two-bedroom apartments. Move-ins are slated to begin in early 2026. Novel River District will be the first apartment community within The River District, a 1,400-acre master-planned development that will offer 2,350 apartments and 2,300 single-family homes at full build-out. Crescent Communities is also the developer for The River District. …

November 15, 2024

Artwalk Towers in Jersey City, New Jersey

Development Finance New Jersey News Northeast

KRE Group Receives $175 Million Construction Loan for 49-Story Project in Jersey City, New Jersey

by Channing Hamilton November 15, 2024

JERSEY CITY, N.J. — KRE Group has secured a $175 million senior construction loan for the development of Artwalk Towers, a 49-story high-rise project located in Jersey City’s Journal Square neighborhood. Beverly Hills, California-based Kennedy Wilson provided the funding. Artwalk Towers will comprise 595 units. Upon completion, the building will feature a street connector to a PATH train station, pool, barbecue area, gym, coworking spaces and a sky lounge with views of the New York City skyline. The project is slated for completion by the fourth quarter of 2027. KRE …

November 15, 2024

Build-to-Rent Development Florida Leasing & Marketing News Southeast

BB Living Opens 164-Unit Build-to-Rent Community Near Tampa, Florida

by Channing Hamilton November 14, 2024

TAMPA, FLA. — BB Living has opened Epperson Ranch, a 164-unit build-to-rent community located at 31921 Conchshell Sail St. in Wesley Chapel, roughly 25 miles north of Tampa. The complex offers three- and four-bedroom townhomes that range from 1,639 to 1,944 square feet. Amenities include a fitness center, pool and spa, dog park and walking trails. Epperson Ranch is the second community in Florida that BB Living has completed, with three more properties underway that are slated to open in 2025.

November 14, 2024

Newer Posts

Older Posts