News

Soltra at SanTan Village in Gilbert, Arizona

CBRE Brokers $140 Million Sale of Soltra at SanTan Village in Phoenix Suburb

by Channing Hamilton July 21, 2023

GILBERT, ARIZ. — The Premiere Residential has acquired Soltra at SanTan Village, a 380-unit community in the southeast Phoenix suburb of Gilbert, from Leon Multifamily for $140 million. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller. Soltra at SanTan Village was built in 2021 at 1690 South San Tan Village Pkwy. Units come in studio, one- and two-bedroom layouts. Amenities include a clubhouse with an entertainment table, fitness center and pool with a swim-up hospitality bar and cabanas.

July 21, 2023

Development Illinois Midwest News

The Community Builders Breaks Ground on 63-Unit Affordable Community in Chicago

by Channing Hamilton July 20, 2023

CHICAGO — The Community Builders has broken ground on 4715 N Western, a 63-unit mixed-income community in Chicago’s Lincoln Square neighborhood. The building will rise six stories and offer studio, one- and two-bedroom floor plants. Amenities include a lounge, terrace, bike storage, package room and resident parking. The property will also include 5,500 square feet of ground floor commercial space and 18 public parking spaces on the second floor. 4715 N Western will be affordable to households earning between 30 and 80 percent of the area median income. The City of …

July 20, 2023

Investment Sales News Oregon Western

Waterton Acquires 177-Unit The Parker in Portland, Oregon

by Channing Hamilton July 20, 2023

PORTLAND, ORE. — Waterton has acquired The Parker, a 177-unit community in Portland. The Parker rises six stories in the Pearl District, one mile north of Downtown Portland. The community offers one- and two-bedroom apartments, as well as amenities including an outdoor courtyard with grilling stations, a fitness center, a dog wash station, bike storage and a community room with a kitchen and business center. Waterton plans to renovate units with new backsplashes and flooring, lighting and plumbing fixtures, cabinets, shades and mirrors.

July 20, 2023

Arizona Investment Sales News Western

ABI Multifamily Brokers $2.2 Million Sale of Community in Phoenix

by Channing Hamilton July 20, 2023

PHOENIX — ABI Multifamily has brokered the $2.2 million sale of an eight-unit property at 4229 North 17th St. in Phoenix. The buyer and seller are based in Arizona. Mitchell Drake, Dallin Hammond and Carson Griesemer represented the seller in this transaction. The property was originally built in 1982 and was renovated in 2020. Interior renovations include contemporary cabinets, stainless-steel appliances, vinyl flooring, floating bathroom vanities and more. Units come in two-bedroom layouts. Exterior renovations include a dog run, community patio grill and picnic area. 4229 North 17th St. is …

July 20, 2023

Development Indiana Midwest News

Thompson Thrift Opens Slate at Fishers District in Indianapolis Suburb

by Channing Hamilton July 20, 2023

FISHERS, IND. — Thompson Thrift has opened Slate at Fishers District, a 242-unit build-to-rent community in the Indianapolis suburb of Fishers. Located on a 25 acre site adjacent to the Fishers District shopping center, Slate at Fishers District offers one-, two- and three-bedroom villas, as well as three- and four-bedroom townhomes. Amenities include a clubhouse, fitness center, pool with cabanas, dog parks and pet spas. The community’s first residents began moving in during May. The property is currently still under construction and is slated for completion in early 2024.

July 20, 2023

Venetian Apartments in Fort Myers, Florida

Berkadia Finance Florida News Southeast

Berkadia Arranges $217 Million Recapitalization for Three-Property Portfolio in Central Florida

by Channing Hamilton July 20, 2023

ORLANDO AND FORT MYERS, FLA. — Berkadia has arranged $217 million in debt and equity financing for the recapitalization of a portfolio in Orlando and Fort Myers. Mitch Sinberg, Brad Williamson, Scott Wadler and Matthew Robbins of Berkadia South Florida arranged the financing on behalf of the borrower, a joint venture between JSB Capital Group and BLD Group. Freddie Mac provided a $185.4 million, fixed-rate loan with a 10-year term at a 60 percent loan-to-value. Related Fund Management provided $31.8 million in preferred equity. The portfolio comprises 1,139 units across …

July 20, 2023

Affordable Housing Development Massachusetts News Northeast

Beacon Communities Break Ground on Pok Oi in Boston’s Chinatown Neighborhood

by Channing Hamilton July 19, 2023

BOSTON — Beacon Communities and the Chinese Consolidated Benevolent Association of New England have broken ground on Pok Oi, an 85-unit affordable community in Boston’s Chinatown neighborhood. Pok Oi will offer one-, two- and three bedroom units. The project is financed in part through the Low-Income Housing Tax Credit program. Income restrictions for the complex were not disclosed.

July 19, 2023

Arkansas Finance Investment Sales News Southeast

Greystone Arranges $50 Million to Acquire Fountaine Bleau in North Little Rock, Arkansas

by Channing Hamilton July 19, 2023

NORTH LITTLE ROCK, ARKANSAS — Greystone has arranged a $50 million loan for the acquisition of Fountaine Bleau, a 435-unit complex in North Little Rock. Greystone’s Dan Sacks and Avi Kozlowski originated the Fannie Mae Delegated Underwriting and Servicing loan. David Singer of Callaway Capital acted as correspondent on the transaction. Fountaine Bleau comprises 18 buildings on a 20-acre site. The community offers one-, two- and three-bedroom units. The buyer plans to renovate the property with energy- and water-saving features such as new thermostats, lighting, washing machines, faucets and showerheads, …

July 19, 2023

The Place at Catherine Way in Manchester, Connecticut

Connecticut Investment Sales News Northeast

IPA Brokers Sale of The Place at Catherine’s Way in Manchester, Connecticut

by Channing Hamilton July 19, 2023

MANCHESTER, CONN. — Afton Properties acquired The Place at Catherine’s Way, a 303-unit community in the Hartford, Connecticut suburb of Manchester, from Beachwold Residential for an undisclosed price. Victor Nolletti, Eric Pentore and Wes Klockner of IPA represented the seller in the transaction. Built between 1998 and 1999, The Place at Catherine’s Way comprises 13 buildings. Units come in one-, two- and three-bedroom floor plans. Amenities include a pool, sauna, steam room, fitness center, tennis courts and movie theater.

July 19, 2023

California Finance News Western

JLL Arranges $11.8 Million Financing for Affordable Housing Community in Los Angeles

by Channing Hamilton July 19, 2023

LOS ANGELES — JLL Capital Markets has arranged $11.8 million in forward permanent financing for Third Thyme, a 104-unit affordable community in Los Angeles. Anson Snyder led the team that secured the 15-year, fixed-rate Freddie Mac loan on behalf of the borrower, West Hollywood Community Housing Corp. The loan will be serviced by JLL Real Estate Capital. Third Thyme is located at 1441 W. 3rd St. on a 14,866-square-foot site. The property will utilize 9 percent Low-Income Housing Tax Credit and public funds. Income restrictions were not disclosed.

July 19, 2023

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