DALLAS — Rebees, a Dallas-based owner-operator of mixed-use properties, has hired Micah Hart as the new chief operating officer (COO) of Rebees Management Co. Hart will be based in Houston. Hart will oversee operations at Sugar Land Town Square, GreenStreet and Autry Park. He will also oversee the platform’s growth into the Henderson Avenue development in Dallas, along with various other projects. Finally, Hart will lead Rebees Management Co.’s strategic initiative to launch a multifamily property management platform. Previously, Hart held positions at Parkway, Midway, The Hanover Co. and PM …
ARLINGTON, TEXAS — Dallas-based investment firm Westmount Realty Capital has sold a 164-unit complex in Arlington. Westmount at Forest Oaks was built on 7.4 acres in 1980. The garden-style property offers one- and two-bedroom apartments with an average size of 736 square feet. Amenities include a pool, playground and fitness center. Westmount bought the property in 2016 and undertook renovations. William Hubbard, Michael Ware, Taylor Hill, Drew Kile and Joey Tumminello of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented Westmount Realty Capital in the transaction. The …
ATLANTA —RangeWater Real Estate has named Brian Soss to the role of executive managing director of acquisitions. Soss will lead the Atlanta-based company’s acquisitions strategy, identifying and securing investment opportunities. Prior to joining RangeWater, he served as co-head of multifamily asset management for Starwood Capital Group. He also previously held key positions at MetLife Investment Management. Soss received a Bachelor of Arts in economics from the University of Vermont and a Master of Business Administration from Georgetown University’s McDonough School of Business.
GRETNA, NEB. — Stark Enterprises, in partnership with Stark Living and Arbor Construction, has secured construction financing for Teal Ridge Village, a 244-unit build-to-rent (BTR) project in Gretna, about 22 miles southwest of Omaha, Nebraska. Teal Ridge Village will feature one-, two- and three-bedroom single-level residences on a 43.7-acre site. Each home will offer granite countertops, stainless steel appliances, covered front porches, private patios, walk-in closets and attached two-car garages. Units will also include internet connectivity, cable access and in-unit washer and dryer systems. Residents will have access to amenities …
LANSDALE, PA. — Locally based investment firm Equus Capital Partners has bought Jacobs Woods, a 230-unit community in Lansdale, located roughly 35 miles north of Philadelphia. Erin Miller led the Newmark team that brokered the $73.1 million sale. The seller was not disclosed. Built on 37 acres in 1996, the garden-style community offers one-, two- and three-bedroom units across 33 townhome-style buildings. The property was 98 percent occupied at the time of sale. The new ownership plans to upgrade unit interiors and amenity spaces.
SACRAMENTO, CALIF. — A partnership between USA Properties Fund and LDK Ventures has delivered The A.J., a $130 million mixed-income project within The Railyards in Sacramento. Located at 251 6th St., The A.J. features 345 apartments, including 69 affordable homes for residents earning 50 percent or less of the area median income. Additionally, The A.J. offers more than 5,000 square feet of ground-level retail space. Residents have access to amenities including a fitness center; pool and spa with cabanas; bike storage area with repair station; pet spa and wash area; …
BROWN DEER, WIS. — PPR Capital Management has acquired The Villas at Foxwood, a 232-unit townhome-style community in Brown Deer, approximately 11 miles north of Milwaukee. The property traded hands for $38.3 million. The acquisition marks the firm’s first investment in the Milwaukee Metropolitan Statistical Area. The Villas at Foxwood spans 21 acres. Each residence features a private entrance, attached garage, fireplace and washer and dryer. PPR also plans to upgrade units with stainless steel appliances and new flooring. The investment structure includes a total equity investment of $19.4 million, with …
WACO, TEXAS — Texas-based Parkspring Multifamily will develop Commons at Cottonwood Creek, a 392-unit project within the Cottonwood Creek master-planned development in Waco, which is roughly equidistant from Dallas and Austin, Texas. The community will offer a mix of one- and two-bedroom apartments. Units will range from 754 to 1,028 square feet. Amenities will include a resident clubhouse with a kitchen, coffee bar, pool table, golf simulator and TVs; business center with private conference rooms and coworking spaces; pool with tanning ledges; athletic club; outdoor kitchen areas; and an onsite …
JESSUP, MD. — Soto Architecture & Urban Design, in partnership with Varsity Investment Group, has broken ground on The Residences at Milestone, a 182-unit project in Jessup, just over 15 miles southwest of Baltimore. The project will feature two mid-rise buildings with 103 apartments and 79 three-bedroom townhomes on a 12.2-acre site. Apartments will come in studio and one-bedroom configurations. Townhomes will come in three-bedroom layouts and will feature private garages for added convenience. The property will feature a 5,000-square-foot clubhouse with a gymnasium, multipurpose community room, pet spa and gathering …
RALEIGH, N.C. — Kane Realty Corp. has broken ground on The Strand, a 20-story high-rise development in the North Hills district of Midtown Raleigh. The apartment tower will feature 362 apartments and 9,000 square feet of retail space. The Strand will consist of studio, one-, two- and three-bedroom apartments, as well as top-floor penthouses. The property will also feature an amenity deck on the sixth floor that will include a pool, grilling area, activity lawn, fitness center and clubroom, as well as a clubroom on the 18th floor and a …