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Vive Luxe in San Diego, California
CaliforniaFinanceNewsWestern

Sunroad Enterprises Receives $188 Million for Vive Luxe in San Diego, California

by Channing Hamilton

SAN DIEGO, CALIF. — Sunroad Enterprises has secured $188 million loan for Vive Luxe, a 442-unit property in San Diego. Aldon Cole, Tim Wright and Bharat Madan of JLL Capital Markets represented the borrower in arranging the five-year, fixed-rate loan from accounts managed by global investment firm KKR. Built in 2021 at 4890 Sunroad Centrum Lane, Vive Luxe rises five stories. The community offers one-, two- and three-bedroom apartments ranging from 726 to 1,122 square feet. Of the total unit count, 23 have been set aside as affordable housing. Income …

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Company NewsGeorgiaLeasing & MarketingNewsOperationsPeople NewsSoutheast

RKW Tapped to Manage Atlanta Property, Hires New Regional Manager

by Lynn Peisner

DULUTH, GA — Westplan has selected third party management firm RKW Residential to lease and manage Accent Suwanee Creek near Atlanta. The 253-unit property is made up of one-, two- and three-bedroom units. RKW also has hired Sean Shalpan, formerly a regional manager with Greystar, to support RKW’s growth throughout Georgia. RKW is headquartered in Charlotte with regional offices in Miami, Orlando, Florida, Atlanta and Raleigh, North Carolina. The company manages approximately 30,000 multifamily and build-to-rent units in eight states.

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Landmark at Gleneagles in Dallas
Investment SalesNewsSoutheastTennesseeTexas

S2 Capital Acquires Five-Property Portfolio Totaling 1,768 Units

by Channing Hamilton

DALLAS, ANTIOCH, TENN. AND KNOXVILLE, TENN. — S2 Capital has acquired a portfolio of five distressed properties facing foreclosure in Dallas, Antioch and Knoxville. S2 invested $60 million of rescue capital in a new joint venture with the existing Limited Partner through a structured preferred equity investment. ACORE Capital provided a $170 million senior loan for the acquisition. The loan features a five-year term. The five properties included in the portfolio were:

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Alta Green Mountain in Lakewood, Colorado
ColoradoInvestment SalesNewsWestern

Sagard Real Estate Acquires Alta Green Mountain Near Denver for $104.6 Million

by Channing Hamilton

LAKEWOOD, COLO. — Sagard Real Estate has purchased Alta Green Mountain, a 260-unit property located at 13055 W. Mississippi Court in Lakewood, about eight miles southwest of downtown Denver. The asset traded hands for $104.6 million. The seller was not disclosed. Dave Martin and Brian Mooney of Northmarq’s Denver Multifamily Investment Sales team represented the seller in the transaction. Built in 2020, Alta Green Mountain features one-, two- and three-bedroom floor plans. The average unit size is 864 square feet. Tenants have access to amenities such as a clubhouse, outdoor kitchen …

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The Wimbledon in New York City
FinanceNew YorkNewsNortheast

KKR Provides $123 Million Loan for Refinancing of Manhattan Apartment Building

by Channing Hamilton

NEW YORK CITY — Global private equity firm KKR has provided a $123 million loan for the refinancing of The Wimbledon, a 214-unit complex located at 200 E. 82nd St. on Manhattan’s Upper East Side. The property offers one-, two- and three-bedroom units and includes 8,590 square feet of commercial space. Community amenities include a fitness center, outdoor theater, children’s playroom, package lockers and outdoor dining space. Jordan Roeschlaub and Chris Kramer of Newmark arranged the loan on behalf of the sponsor, Rockpoint Group.

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The Edison in Milwaukee
DevelopmentFinanceMidwestNewsWisconsin

The Neutral Project Breaks Ground in Milwaukee on $133.3 Million Mass Timber Building

by Channing Hamilton

MILWAUKEE — Madison, Wisconsin-based developer The Neutral Project has secured $133.3 million in construction financing for The Edison, a 378-unit project located at 1005 North Edison St. in Milwaukee. Mike Brady, Tara Hagerty and Merrick Evans of JLL Capital Markets arranged the senior financing through Bank OZK and the mezzanine financing through Pearlmark. The Edison will include 308,913 square feet of rentable residential space across 32 stories. The community will offer studio, one-, two- and three-bedroom apartments. Residents will have access to amenities such as a café, fitness center, pool …

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Leasing & MarketingNewsNortheastOperationsWashington, D.C.

US Justice Department Adds Six Landlords to Rental Price-Fixing Lawsuit 

by Channing Hamilton

WASHINGTON, D.C. — The U.S. Justice Department (DOJ), along with 10 state attorneys general, has filed an amended complaint in its antitrust lawsuit against RealPage. The complaint targets six of the nation’s largest property managers, alleging that the companies used RealPage’s pricing algorithms to share sensitive data and coordinate pricing strategies, which the DOJ states resulted in artificially inflated rents. The DOJ stated that the landlords had colluded with one another by directly communicating with competitors’ senior managers about sensitive topics such as rents and occupancy; conducting “call arounds” to …

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55 Riverwalk Place in West New York, New Jersey
DevelopmentInvestment SalesNew JerseyNewsNortheast

IPA Capital Markets Arranges $174 Million in Acquisition Financing for Property in Suburban New York City

by Channing Hamilton

WEST NEW YORK, N.J. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $174 million in joint venture equity and debt financing for the acquisition of 55 Riverwalk Place, a 348-unit community in West New York, roughly nine miles north of New York City. The property is situated adjacent to the Hudson River and directly across from Manhattan. Built in 2006, 55 Riverwalk Place offers amenities such as a pool, fitness center, yoga studio, business center and grilling stations. According to the property website, units come in …

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Waterstone at Cinco Ranch in Katy, Texas
FinanceNewsTexas

Northmarq Provides $25.2 Million Loan for Refinancing of Community Near Houston

by Channing Hamilton

KATY, TEXAS — Northmarq has provided a $25.2 million Freddie Mac loan for the refinancing of Waterstone at Cinco Ranch, a 206-unit complex located in Katy, roughly 30 miles west of downtown Houston. According to Apartments.com, the property was built in 2013 and offers one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, outdoor grilling and dining stations, game room and a car care center. Greg Duvall led the Northmarq team that originated the seven-year, fixed-rate loan. The borrower was not disclosed.

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610 West Apartments in Brooklyn Park, Minnesota
Investment SalesMidwestMinnesotaNews

Spyglass Capital Partners Acquires 610 West Apartments in Suburban Minneapolis

by Channing Hamilton

BROOKLYN PARK, MINN. — Spyglass Capital Partners has acquired 610 West Apartments, a 480-unit community in Brooklyn Park, roughly 15 miles northwest of downtown Minneapolis. JLL Capital Markets represented the seller, The Doran Group, in the transaction. Additionally, JLL secured acquisition financing through Fannie Mae on behalf of the buyer. Josh Talberg and Joseph Peris led JLL’s investment and sales advisory team. Scott Loving, Ken Dayton and Pat McMullen of JLL secured the acquisition financing. Located at 6717 Oak Grove Parkway, 610 West Apartments consists of four buildings. The community …

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