News

StarPoint Properties Secures $52 Million to Develop Dobson Station in Mesa, Arizona

by Channing Hamilton July 19, 2023

MESA, ARIZ. — StarPoint Properties has procured $52 million for the construction of Dobson Station, a 245-unit community in Mesa. Jeff Sause, Wyatt Strahan and Elle Miraglia of JLL Capital Markets arranged the construction financing for the project through a debt fund. Dobston Station will rise four stories and offer studio, one- and two-bedroom units. Amenities will include a fitness center, clubhouse, coworking facility and community kitchen. On-site parking will include a mix of tuck-under and grade-level parking. Development is slated for completion in 2024.

July 19, 2023

Unnamed project in the Grand at Aliana shopping center in Katy, Texas.

Development News Texas

NewQuest Residential to Break Ground on $62 Million Apartment Project in Katy, Texas

by Channing Hamilton July 18, 2023

KATY, TEXAS — NewQuest Residential will begin construction on a $62 million development in the Houston suburb of Katy this September. The property is located on an 11-acre site in the Grand at Aliana shopping center. The project will comprise 294 units across 11 residential buildings, as well as a clubhouse. Units will come in studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, business center with co-working space and conference room, event space, grilling stations, an outdoor lounge and a dog park. Humphreys & …

July 18, 2023

Investment Sales News Texas

Newmark Arranges Sale of 612-Unit Signature Ridge in San Antonio

by Channing Hamilton July 18, 2023

SAN ANTONIO — Newmark has brokered the sale of Signature Ridge, a complex in San Antonio’s South Texas Medical Center/USAA employment hub. Patton Jones, Matt Michelson and Andrew Dickson represented the undisclosed seller. Braden Harmon and Hank Glasgow arranged the debt financing on behalf of the buyer. Signature Ridge offers 612 units in one-, two- and three-bedroom floor plans. Amenities include a fitness center, dog park, two pools and a clubhouse with a full kitchen and arcade area.

July 18, 2023

921-927 S. Trident St. in Anaheim, California

California Investment Sales News Western

CBRE Brokers $4.3 Million Sale of a 12-Unit Property in Anaheim, California

by Channing Hamilton July 18, 2023

ANAHEIM, CALIF. — CBRE has arranged the sale of a 12-unit property at 921-927 S. Trident St. in Anaheim. The property traded hands between two private investors in a 1031 exchange. Dan Blackwell, Andrew Boukather and Sean Farag represented the buyer in the transaction. The property was constructed in 1962 and comprises two buildings on a 0.4-acre site. Units come in two- and three-bedroom layouts. Units were recently renovated with new baseboards and blinds, updated showers, plank flooring and new cabinets and countertops.

July 18, 2023

Finance News Texas

JLL Arranges $255 Million Credit Facility for Single-Family Rental Portfolio Across Texas

by Channing Hamilton July 18, 2023

DALLAS — JLL has arranged a $255 million credit facility for SimplyHome, a Houston-based developer of single-family rental properties. The developer’s holdings encompass more than 10,000 units across 100 submarkets. Colby Mueck, Matthew Putterman, Laura Brown and Davis Burnett of JLL secured the credit facility though Churchill Real Estate. The facility refinanced an initial portfolio of homes located in the Houston, Dallas-Fort Worth, San Antonio and Bryan/College Station markets.

July 18, 2023

California Finance News Western

Greystone, Affinius Arrange $172 Million Refinancing for Rise Koreatown in Los Angeles

by Channing Hamilton July 18, 2023

LOS ANGELES — Greystone Commercial Capitaland Affinius Capital have brokered a $135 million mortgage loan for the refinance of Rise Koreatown, a high-rise community in Los Angeles’ Koreatown neighborhood. Greystone and Affinius Capital arranged a syndicated funding, which originates institutional structured commercial mortgage loans including subordinate debt for all major property types. The property was built in February 2023 by Rescore Property Group, a private REIT and affiliate of Encore Capital Management. Rise Koreatown comprises 363 units and 47,417 square feet of retail space on a 2.3-acre site.

July 18, 2023

Affordable Housing California Investment Sales News Western

BRIDGE Housing Acquires Eaves Daly City Near San Francisco

by Channing Hamilton July 17, 2023

DALY CITY, CALIF. — BRIDGE Housing has acquired Eaves Daly City, a 195-unit community in Daly City, 10 miles south of San Francisco. Built in 1972, the property offers 11 two- and three-story buildings across 8.2 acres. Units come in studio, one-bedroom and two-bedroom layouts. Amenities include a pool, spa and fitness center. BRIDGE Housing plans to preserve at least half of the units in perpetuity for residents earning up to 80 percent of the area’s median income. Currently, the units have no income restrictions. BRIDGE Housing also plans to …

July 17, 2023

Finance Kentucky News Southeast

Greystone Brokers $42.3 Million in Financing for 800 Tower City Club Apartments in Louisville, Kentucky

by Channing Hamilton July 17, 2023

LOUISVILLE, KY. — Greystone has arranged a $42.3 million Fannie Mae Delegated Underwriting & Servicing loan for 800 Tower City Club Apartments in Louisville. The non-recourse, fixed-rate financing carries a ten-year term and 30-year amortization, with three years of interest-only payments. Anthony Cristi brokered the deal on behalf of 800 City Apartments LLC. The building rises 29 stories and offers studio, one- and two-bedroom units. The property was built in 1963.

July 17, 2023

Florida Investment Sales News Southeast

Trilogy Real Estate Group Acquires Azalea Apartments Near Tampa, Florida for $85.8 Million

by Channing Hamilton July 17, 2023

BRANDON, FLA. — Trilogy Real Estate Group has acquired Azalea Apartments, a 289-unit community in the eastern Tampa, Florida suburb of Brandon, from ZOM Living for $85.8 million. Azalea Apartments is currently under construction, with the first move-ins slated to begin this quarter. Units come in one-, two- and three-bedroom layouts. Amenities include a pool, fitness center with a spinning studio and yoga lawn, event lawn, gaming area, dog park and pet salon.

July 17, 2023

Finance Georgia News Southeast

McKinley Homes Secures $52.2 Million Loan to Refinance Seven88 West Midtown in Atlanta

by Channing Hamilton July 17, 2023

ATLANTA — McKinley Homes has received a $52.2 million loan to refinance and lease-up 142 units within Seven88 West Midtown in Atlanta’s Midtown West neighborhood. David Perlman, Edward Prosser and Scott Sumida of Thorofare Capital originated the loan. Ben Nevid, Drew Anderman, Naphtali Marrus and Elliot Braude at Meridian Capital Group arranged the financing. Built in 2020, Seven88 West Midtown comprises 279 units and 8,639 square feet of ground floor retail space. Units come in studio, one-, two- and three-bedroom layouts, and feature outdoor space or balconies, quartz countertops, hardwood …

July 17, 2023

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