SPRINGFIELD, N.J. — Garden Communities has begun pre-leasing for the townhome phase of The Metropolitan in Springfield. The Metropolitan offers 47 townhomes in two- and three-bedroom floor plans. Monthly rents for the townhomes begin at $6,945. The first units are expected to be ready for occupancy before the end of 2023. Future project phases include a 223-unit apartment building and 5,000 square feet of retail space. Amenities include a daytime concierge, coffee bar, community room, co-working spaces, fitness center, EV chargers, a pool and an outdoor kitchen.
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DALLAS — Conor Commercial Real Estate will develop The Flynn at Live Oak, a 327-unit project in Dallas. The building will rise five stories at 4931 Live Oak St. Units come in studio, one- and two-bedroom floor plans. Planned amenities include co-working space with private offices and standing desks, a mini-mart, pool, two courtyards and a dog park. The first apartments are slated to deliver in spring of 2025. The development is a joint venture investment between Conor Commercial Real Estate, Globe Corp., and Origin Investments. JLL’s Dallas office arranged …
HUTTO, TEXAS — Empire Group of Cos. has secured a $62.4 million loan to construct Village at Hutto Station, a build-to-rent development in the Austin suburb of Hutto. Arbor Realty SR Inc. provided the loan. The general contractor for the project is Legacy MCS. Empire Group began developing the community, which consists of 276 units on 30.6 acres, in August. Units come in one-, two- and three-bedroom floor plans ranging in size from 680 to 1,300 square feet. Amenities will include a pool and jacuzzi, barbecue and fire pits, a …
MIRAMAR, FLA. — ZOM Living has brokered the sale of Sorrento, an affordable housing complex in Miramar, to Related Cos. for an undisclosed price. Sorrento offers 320 garden-style units to households earning at or below 50 to 60 percent of the area median income. Units come in one-, two- and three-bedroom layouts. Rents range from $826 for a one-bedroom unit to $1,382 for a three-bedroom apartment. The property was originally financed through the federal Low Income Housing Tax Credit program, along with various state and county debt financing programs.
SARASOTA, FLA. — Berkadia has arranged the sale of Reserve at Palmer Ranch, a 320-unit community located at 4100 Winners Circle in Sarasota. Built in 1990, Reserve at Palmer Ranch features two- and three-bedroom units, as well as a fitness studio, two pools, bark park, car care center and a courtyard with communal games. Strategic Holdings sold the asset to MLG Capital. Berkadia’s Jason Stanton, Cole Whitaker and David Etchison represented the seller in the deal. John Koeijmans of Berkadia’s Dallas office arranged financing on behalf of the buyer. The …
LEAGUE CITY, TEXAS — Cushman & Wakefield has brokered the sale of two communities, Amalfi at Tuscan Lakes and Sorrento at Tuscan Lakes, in League City. John Carr, Jennifer Campbell, Ben Fuller, Josh Hoffman, Avery Klatt, Asher Hall and Grant Raymond of Cushman & Wakefield represented the seller in the transaction. Both communities were sold by Sachs Cos. Amalfi Tuscan Lakes is located at 1450 E League City Parkway and comprises 328 units. Sorrento at Tuscan Lakes offers 204 units at 1455 Louisiana Ave. Both communities were built in 2008 …
ANAHEIM, CALIF. — CBRE has arranged the sale of two communities in Anaheim. The properties total 20 units and were sold to two separate buyers for over $5.5 million. A property at 1121-1125 West Fay Lane traded hands for $2.9 million. CBRE’s Dan Blackwell, Andrew Boukather and Amanda Fielder represented the seller, a private investor based in Orange County. Blackwell and CBRE’s Sean Farag also represented the buyer, a repeat client also based in Orange County. The asset was built in 1964 and comprises 12 units across two buildings. Units …
VISTA, CALIF. — Walker & Dunlop (W&D) has brokered the $174 million sale of Waterleaf, a 456-unit value-add community in the northern San Diego suburb of Vista. MIG Real Estate acquired the asset from MG Properties Group. According to W&D, this is the second-largest multifamily deal in San Diego in 2023. A W&D investment sales team led by Hunter Combs represented both the seller and the buyer in the transaction. Waterleaf is located minutes from downtown Vista and 30 minutes to downtown San Diego. The property is also in proximity …
BROKEN ARROW, OKLA. — Berkshire Lane Development Partners will build Berkshire @1Eleven, a 182-unit garden-style project in the southeast Tulsa suburb of Broken Arrow. Berkshire @1Eleven will offer one- and two-bedroom units, which feature stainless steel appliances, quartz countertops and individual washers and dryers. Amenities will include a pool, fitness center, and green spaces. The first units are expected to be available for occupancy in summer 2025.
OKLAHOMA CITY — RRA Capital has provided a $20.6 million loan for the acquisition of a 252-unit complex in Oklahoma City. The property is located at 11239 Pennsylvania Ave. and was built in 1970s. Units come in one- and two-bedroom units. The borrower, GreenLite Holdings, plans to implement a value-add program that will upgrade the pool and clubhouse and install new appliances, flooring, lighting, plumbing and windows in the unit interiors.