NEW YORK CITY — Stav Equities and Invictus Property Advisors have brokered the $2.5 million sale of a property located at 1362 Pacific St. in New York City. The property rises four-stories in the Crown Heights neighborhood of Brooklyn. Andrew Levine, Josh Lipton and Jax Hindmarch of Invictus Property Advisors and Jacob Stavsky of Stav Equities LLC executed the off-market transaction. The buyer and seller were not disclosed.
FT. LAUDERDALE, FLA. — Prime Group US and PMG Asset Services have secured a $150 million loan to refinance Quantum at Flagler Village, a mixed-use development in Fort Lauderdale. Joe Hercenberg of Walker & Dunlop led the team that secured a refinancing of the newly completed project’s construction loan in its initial lease-up. The lender was not disclosed. The loan features a fixed-rate, 60-month term. Walker & Dunlop also arranged the construction loan for the project four years ago. Quantum at Flagler Village comprises 337 apartments and 20,884 square feet …
HUNTERSVILLE, N.C. — The Connor Group has acquired The Alcove at Birkdale Village, a 314-unit community in Huntersville, 20 miles north of Charlotte. This marks the third property in the Charlotte submarket for the Ohio-based buyer. The seller and sales price were not disclosed. Units at The Alcove at Birkdale Village come in one-, two- and three-bedroom floor plans. According to the property website, monthly rents begin at $1,299 per month.
CORPUS CHRISTI, TEXAS — Northmarq has brokered the sale of Coral Cay Apartments, a 109-unit community in Corpus Christi off the Gulf of Mexico. Sparkle Asset Management sold the property to an affiliate of SPV Property Management for an undisclosed price. Coral Cay Apartments was built in 1970 and features an average unit size of 955 square feet. The property was 97 percent occupied at the time of sale. Zar Haro, Moses Siller, Bryan VanCura and Phil Grafe of Northmarq represented both parties in the deal. Cheryl Higley arranged acquisition …
CHATHAM, N.J. — Walters has broken ground on Cornerstone at Chatham, a 63-unit affordable community in Chatham. The project is being developed through a partnership between Walters and Chatham Township. Walters was awarded a 9 percent Low Income Housing Tax Credit. Cornerstone at Chatham will comprise three buildings and offer one-, two- and three-bedroom units. Units will be available to tenants earning at or below 60 percent of the area median income. Rental rates will be based on the renter’s gross annual income, according to the rent/income requirements chart. The …
ROGERS, ARK. — Cushman & Wakefield has brokered the sale of The Fitzroy Grove, a 250-unit community in the northwest Arkansas city of Rogers. Martin Bynum and Craig Hey represented the seller, Huffman & Co. Lurin Capital acquired the property. The Fitzroy Grove was built in 2021. According to the property website, units come in studio, one-, two- and three-bedroom floor plans. Amenities include a pool with cabanas, bocce and pickleball courts, a business center, dog park, package center, fitness center, a lounge and a business center.
CHICAGO — McHugh Construction has topped out 1000M, a 73-story tower at the western edge of Chicago’s Grant Park. 1000M will offer 738 apartments in studio to four-bedroom layouts. The community’s 80,000 square feet of indoor and outdoor amenity space will include an observation deck on the 73rd floor. The high-rise was designed by the late German Architect Helmut Jahn and his company, Jahn. McHugh Construction is the general contractor for the project. Kara Mann designed the unit and amenity interiors. Cullen Construction Management is the owner’s representative. The community’s first units …
LOS ANGELES — JLL Capital Markets arranged the $16.7 million construction take-out financing for The Hobart, a 39-unit community in the Los Angeles neighborhood of Koreatown. Chris Collins and Brad Vansant represented the borrower, Jannone Development, to secure the two-year, floating-rate loan. The Hobart was built in 2023. The building rises six stories at 3050 W. 11th St. Units come in one-, two- and three-bedroom floor plans.
WESTBURY, N.Y. — Terwilliger & Bartone Properties has begun leasing The Cornerstone Westbury, a community located 1,000 feet from the Westbury Train Station in Westbury. The first phase of the development delivers 72 units, and the second phase will add 58 more. The second phase is slated to complete in early 2024. Amenities include a rooftop patio, fire pits, a clubhouse, fitness center, on-site parking and events for residents. Of the total 130 units, 18 will be set aside as workforce housing. The Cornerstone Westbury received over 1,200 applications for these …
SAN JOAQUIN COUNTY, CALIF. — PACT Capital has arranged a $362 million acquisition land loan for a 1,600-acre property in San Joaquin County, about 60 miles from San Francisco. Originally planned in the 1990s, the site is entitled for 5,500 residential units, as well as 263 acres of entitled multifamily, mixed-use, industrial and commercial space. The buyer was a private family office in Northern California. The acquisition financing was provided through a real estate investment banking syndicate. PACT Capital’s advisory team was led by Adam Mortanian, Tyler Shegerian, Connor Haubursin …