NEW YORK CITY — Skyline Developers has broken ground on a 97-unit project located at 18 W. 55th St. in Midtown Manhattan, the central portion of New York City’s Manhattan borough. The building will comprise 152,000 square feet across 26 stories. Goldman Sachs Bank USA provided construction financing for the development. Morris Adjmi Architects designed the building. The project is slated for completion in 2025.
LAKE WORTH, FLA. — Marcus & Millichap arranged the $2.9 million sale of a Lucerne Apartments, a 14-unit apartment property located in Lake Worth. Daniel Cunningham, Evan Richardson, River Rhoads and Dillon Majeski of Marcus & Millichap’s Fort Lauderdale office marketed the property on behalf of the seller, private investor, and secured the buyer, a New York-based private investor. Steve Goldwyn and David Purisch of Marcus & Millichap Capital Corp.’s Fort Lauderdale office arranged $2 million in acquisition financing. The property was built in 1974.
CHARLOTTE, N.C. — Lucern Capital Partners has sold Thompson Place Apartments in Charlotte for $8.35 million. The buyer was not disclosed. According to Apartments.com, the property was built in 1998. Units come in one-, two-, three- and four-bedroom floor plans. Amenities include a playground, pet play area and picnic spaces. Lucern Capital Partners previously acquired Thompson Place Apartments from a long-term family ownership group. The company executed a value-add plan for the community during its hold period.
WEST COLUMBIA, S.C. — JLL Capital Markets has arranged $21.8 million in bridge financing for Granby Oaks Apartments, a garden-style community in West Columbia. Thomas Didio, Gerard Quinn, Ward Smith and Michael Mataras worked on behalf of the sponsor, PAM Associates LLC, to secure the two-year, floating-rate loan through MF1 Capital LLC. Granby Oaks Apartments was built in 1973 and is situated directly west of downtown Columbia. The property features one, two- and three-bedroom units across 21 buildings. Amenities include a dining room, clubhouse, laundry facility, courtyard and pool.
AUSTIN, TEXAS — Draper and Kramer Inc. has acquired Griffis at Riata, a 307-unit property located in Austin’s tech district. Griffis at Riata was built in 2017 on a 16.9-acre site adjacent to Apple’s Austin corporate campus on Parmer Lane. The community comprises 195 one-bedroom and 112 two-bedroom apartments across 17 buildings. Amenities include co-working spaces, a resident lounge, two fitness centers, a pet spa and dog park. At the time of purchase, the property was 95 percent leased. Draper and Kramer will rebrand the community as “DK Riata.”
DULUTH, MINN. — JLL Capital Markets has arranged the $8.5 million sale of Canal Park Square, a historic mixed-use redevelopment project in the Canal Park neighborhood of Duluth. Devon Dvorak, Mox Gunderson, Dan Linnel, Josh Talberg and Adam Haydon led the JLL Capital Markets Investment Sales and Advisory team that represented the seller, Sherman Associates. The buyer was not disclosed. Canal Park Square was originally constructed in 1886 and was redeveloped in 2015, which converted the office space on the second floor into apartments. The property now offers 29 apartments and …
PHOENIX — Raintree Investment Corp. has opened Willow 38, a townhome-style community in the Arcadia neighborhood of Phoenix. The property offers 48 units in three- and four-bedroom layouts. Units come with smart home technology packages, including smart thermostats and stoves, Ring doorbell cameras, leak detection and touchless door locks. Other features include garages pre-wired for EV charger capability, fenced backyards and walk-in closets. MEB Management Services is the manager for Willow 38.
WHITEHALL, OHIO — Woda Cooper Cos. and IMPACT Community Action have broken ground on The Enclave on Main, a 102-unit affordable housing community in Whitehall. The Enclave on Main will be affordable to tenants earning between 30 and 80 percent of the area median income. Units will come in one-, two- and three-bedroom layouts, with several units adapted for those with mobility challenges or sight and hearing disabilities. Amenities include a community room with kitchenette and management office for an onsite community manager. The Ohio Housing Finance Agency (OHFA) provided …
AUSTIN, TEXAS — SPI Advisory has purchased Parkview Terraces, a 244-unit community in Austin, for an undisclosed price. This acquisition marks SPI Advisory’s eight property under management in the Austin metropolitan area. Parkview Terraces was built in 2009 and was previously known as Cortland Southpark Terraces. According to Apartments.com, units come in one-, two- and three-bedroom floor plans. Amenities include a fitness center, package lockers, a business center, outdoor lounges, a clubhouse and valet trash services.
LYNNWOOD, WASH. — Institutional Property Advisors has arranged the sale of Augusta Glen, a 121-unit community in the Seattle suburb of Lynwood. Interstate Equities Corp. acquired the asset from APIC Inc. for $28.3 million. Augusta Glen was built in 1991 on 6.8 acres. The community offers one-, two- and three-bedroom units averaging 925 square feet in size. Amenities include a fitness center and a seasonal outdoor pool.