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1072 West Peachtree in Atlanta
DevelopmentFinanceGeorgiaNewsSoutheast

Rockefeller Group Begins Development of 1072 West Peachtree Mixed-Use Tower in Atlanta

by Channing Hamilton

ATLANTA — Rockefeller Group has broken ground on 1072 West Peachtree, a mixed-use high-rise development in Midtown Atlanta. Sumitomo Mitsui Trust Bank Ltd. is providing a senior loan to Rockefeller Group to construct the project. A joint venture between Rockefeller, Japan-based Taisei USA LLC and Mitsubishi Estate New York is providing equity. TVS is the lead architect. The tower will offer more than 350 apartments, as well as 224,000 square feet of office space and 6,300 square feet of street-level retail space. According to Rockefeller Group, the tower is slated …

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DevelopmentFinanceNewsSoutheastVirginia

BWE Arranges $50 Million to Construct 900 North Allen Apartments in Richmond, Virginia

by Channing Hamilton

RICHMOND, VA. — BWE arranged a $50 million loan to facilitate the development of 900 North Allen Apartments in Richmond’s Newtowne West neighborhood. Charles DuBose, Adam Bieber and Alec Jenkins originated the loan through a regional bank on behalf of Spy Rock Realty Group. 900 North Allen Apartments will offer 300 one-, two-, and three-bedroom units, as well as amenities including a pool, fitness center, lounge, dog park, co-working booths and an internal parking garage. The community is being built in one of Richmond’s opportunity zones as part of a federal initiative …

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Autumn Ranch on Swenson Farms in Pflugerville, Texas
Investment SalesNewsTexas

Newmark Arranges Sale of Autumn Ranch on Swenson Farms in Pflugerville, Texas

by Channing Hamilton

PFLUGERVILLE, TEXAS — Newmark has brokered the sale of Autumn Ranch on Swenson Farms, a 336-unit community located in the Austin suburb of Pflugerville. Patton Jones and Andrew Dickson represented the seller, MIG Real Estate. Knightvest Capital acquired the asset. Autumn Ranch on Swenson Farms was built in 2008 on a 16.9-acre site. Units come in one- and two-bedroom layouts with an average size of 1,041 square feet. Amenities include a pool, clubhouse, fitness center, dog park and package lockers. Additionally, 133 units were recently renovated with new flooring, interior paint, light …

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Sherman Forbes Housing in St. Paul, Minnesota
FinanceMidwestMinnesotaNews

Colliers Brokers $18.3 Million to Rehabilitate Sherman Forbes Housing in St. Paul, Minnesota

by Channing Hamilton

ST. PAUL, MINN. — Sherman Forbes Housing Partners, an affiliate of Vitus Group LLC, has secured a $18.3 million HUD loan to facilitate the renovation of Sherman Forbes Housing in St. Paul, Minnesota. The loan carries a 40-year term and amortization. Sherman Forbes Housing offers 104 units in one- and two-bedroom floor plans. Amenities include on-site laundry, off-street parking, a community playground and a community patio. The project will also utilize four percent Low Income Housing Tax Credits and Tax-Exempt Bonds. The Bonds were underwritten by Colliers Securities LLC. Income restrictions …

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DevelopmentLeasing & MarketingNewsNortheastPennsylvania

EQT Exeter to Open The Clark in Philadelphia’s University City Neighborhood

by Channing Hamilton

PHILADELPHIA — EQT Exeter has completed development of The Clark, a six-story community in Philadelphia’s University City neighborhood. The Clark will open for residency in August 2023 and will be managed by Greystar. The building will offer 327 units in studio, one- and two- bedroom layouts. Amenities include a rooftop lounge with a grilling terrace, fitness center, co-working spaces with Wi-Fi connectivity and printers, a game lounge and a food delivery hub. The Clark is located in proximity to the University of Pennsylvania and Drexel University, as well as the Children’s …

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A property in Miami Lakes, Florida
FinanceFloridaNewsSoutheast

Northmarq Arranges $70 Million in Financing for Two Properties in Miami Lakes, Florida

by Channing Hamilton

MIAMI LAKES, FLA. — Northmarq has arranged $70 million in financing for two properties in the Miami, Florida suburb of Miami Lakes. The borrower was The Graham Cos. Jeff Robertson of Northmarq’s Fort Lauderdale debt and equity office brokered the 10-year permanent loan through Empower Annuity Life Insurance Co. The properties were built in 1997 and 2000, respectively, and offer a combined total of 500 units. The names and addresses of the communities were not disclosed.

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224 S. Oak St. in Newport Beach, California
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $1.6 Million Sale of Fourplex in Orange, California

by Channing Hamilton

ORANGE, CALIF. — CBRE arranged the $1.6 million sale of a four-unit community located at 224 S. Oak St. in Orange. Dan Blackwell, Sean Farag and Amanda Fielder represented the Orange County-based 1031 exchange seller in the sale of the asset. The fourplex was built in 1957 on a 10,809-square-foot site. The property offers one- and two-bedroom units, as well as four garage parking spaces and four tandem spaces.

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Clarendon Park in Phoenix
ArizonaInvestment SalesNewsWestern

CBRE Arranges $37 Million Sale of Clarendon Park in Phoenix

by Channing Hamilton

PHOENIX — CBRE has arranged the sale of Clarendon Park, a 138-unit community in Phoenix. WhiteHaven, a Phoenix-based private equity firm, purchased the property for $37 million. Matt Pesch, Austin Groen, Jeff Seaman and Bryson Fricke represented the seller. Anthony Valenzuela of CBRE Phoenix Debt & Structure Finance arranged the deal’s financing. Clarendon Park offers a one- and two-bedroom apartments. Community amenities include a recently renovated fitness center, remodeled clubhouse and leasing center, pool area, new package lockers and a dog park.

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Harvard Apartments in Melbourne, Florida
FinanceFloridaNewsSoutheast

PSRS Arranges $15 Million to Refinance Harvard Apartments in Melbourne, Florida

by Channing Hamilton

MELBOURNE, FLA. — PSRS has arranged the $15 million refinance of Harvard Apartments, a community in Melbourne. PSRS brokered a non-recourse loan featuring a 10-year term and 30-year amortization through a life insurance company on behalf of the undisclosed borrower. The property sits on more than 16 acres of land and comprises a total rentable square footage of 289,175. Harvard Apartments comprises 274 units across 32 buildings.

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2950 Reedy Creek Blvd. in Kissimmee, Florida
DevelopmentFinanceFloridaNewsSoutheast

PACE Loan Group Arranges $13.8 Million For Workforce Housing Conversion in Kissimmee, Florida

by Channing Hamilton

KISSIMMEEE, FLA. — PACE Loan Group arranged $13.8 million in financing to convert a 151-room hotel in Kissimmee into a workforce housing community. The Florida Development Finance Corp. provided a loan through its C-PACE Program, which allows property owners to obtain financing using a special assessment on their property tax bill as the repayment mechanism. The financing package also includes a $9.1 million loan from a regional bank. The borrower, Infiniti Loft Investors, acquired the property following a previous gutting of the interior due to a hurricane. The asset was …

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