LOS ANGELES — Northmarq has hired Joel Cukier as senior vice president to the company’s commercial investment sales team in Los Angeles. Cukier began his career in luxury high-rise management and development in New York. Most recently, he spent seven years working with a national firm focused on corporate real estate advisory. Cukier is joined by Noah Kenoyer, who joins the team as an associate. The commercial investment sales team will focus on net lease real estate and corporate sale leaseback advisory.
REDMOND, WASH. — JLL Capital Markets has arranged the sale of Radiate Apartments, a 360-unit luxury community in the eastern Seattle suburb of Redmond. Jackson Square Properties acquired the asset from Fairfield Residential for $125 million. David Young, Corey Marx, Ira Virden, Chris Ross, Jordan Louie, Michael Lyford and Reed Curtis led the JLL investment sales and advisory team that represented the seller and procured the buyer. Radiate Apartments was built in 2021. The community offers 360 apartments in studio, one- and two-bedroom floor plans. Units feature full-size washers and dryers, …
NEW YORK CITY — GFI Realty has brokered the $4.7 million sale of an eight-unit community in Brooklyn’s Boerum Hill neighborhood. Zachary Fuchs of GFI Realty represented the seller, Eric Orlofsky, and the buyer, an undisclosed local investor, in the transaction. The property was originally built in 1905 and recently underwent a gut renovation. The building rises five stories and offers two- and three-bedroom floor plans.
LAKE WORTH, FLA. — Meyers Accesso has secured $46.2 million in construction financing for the development of Avery Lake Worth, a 200-unit community in Lake Worth. David Gahagan, Chris Hammel and Chandler Kaye of Northmarq’s West Palm Beach debt and equity team arranged the financing through a life insurance company. The lender provided financing with an additional mezzanine loan structure. Avery Lake Worth will comprise two buildings on a 5-acre site. Units will come in studio, one- and two-bedroom layouts. Amenities will include gated access, a clubhouse, fitness center, pool with …
BOUND BROOK, N.J. — Walker & Dunlop has arranged a $6.7 million Fannie Mae loan for the refinancing of The Vibe, a 28-unit complex in the Northern New Jersey borough of Bound Brook. Reynolds Asset Management was the borrower. The 10-year, interest-only loan retires existing construction debt. The Vibe offers 12 one-bedroom units and 16 two-bedroom units.
INDIANAPOLIS — Milhaus, an Indianapolis-based national multifamily developer, has selected Andrejs Kancs to the newly created position of vice president of financial and asset management. In this role, Kancs will monitor project performance on behalf of investors and lenders, initiate measures to rectify concerns and analyze market and project data to prevent underperformance. Kancs most recently served as a director with Scannell Properties. Prior to this, he worked at Milhaus from 2017 to 2022, where he rose to the position of director of finance. Kancs earned his bachelor’s degree in …
SAN ANTONIO — The Milestone Group has acquired Archer Stone Canyon Apartments, a 228-unit value-add community in San Antonio. According to Apartments.com, the property was built in 2005 and offers units in one-, two- and three-bedroom floor plans. Amenities include a business center, clubhouse, lounge, fitness center, pool and a playground. The Milestone Group purchased the complex through an assumption of the existing Freddie Mac loan. The purchase price was not disclosed.
BURLESON, TEXAS — Locally based developer Realty Capital Residential has begun leasing Depot on Main, a 275-unit project in Burleson, which is located 16 miles south of Fort Worth. Depot on Main rises five stories in the city’s Old Town district. The building offers one- and two-bedroom units. Amenities include a pool with a tanning deck, coworking lounge, coffee bar, rooftop deck and entertainment terrace, dog park fitness center and outdoor grilling and dining areas. Rents begin at $1,365 per month for a one-bedroom apartment.
KILLEEN, TEXAS — Colliers Mortgage has provided a Fannie Mae loan for the refinancing of Hillcrest Apartments in Killeen, a city in Bell County, Texas. Fritz Waldvogel originated the seven-year, interest-only loan through a partnership with Old Capital Lending. The borrower was not disclosed. Hillcrest Apartments was built in 1974. The community offers 60 units in one- and two-bedroom floor plans.
CARTERSVILLE, GA. — A partnership consisting of Kaplan Residential and Atlantic Residential has opened Everton Estates, a build-to-rent community in the Atlanta suburb of Cartersville. Everton Estates offers 183 townhome units in two- and three-bedroom layouts. Each unit garage includes an EV charger. Amenities include a pool with cabanas, grill stations, fire pits, a playground, game lounge, fitness center, clubroom and an entertainment kitchen. Crosby Design Group designed the townhomes, while English & Associates architects designed and built the amenity spaces.