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A 3D render of Alta Denton Station, a gray and white multifamily property.
DevelopmentNewsTexas

Wood Partners Opens Alta Denton Station

by Channing Hamilton

DENTON, TEXAS — Wood Partners has opened Alta Denton Station in Denton, about 40 miles north of Dallas. Alta Denton Station offers 248 one-, two- and three-bedroom units with features such as stainless-steel appliances, granite countertops and in-unit washers and dryers. Rent begins at $1,275 per month for a one-bedroom unit, according to the property website. Amenities include a clubhouse, fitness center, pet facilities and a pool with a courtyard and grilling areas. Wood Partners broke ground on Alta Denton in December 2021. The Atlanta-based company currently owns 70 properties …

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A rendering of Mainline North, an eight-story blue and white contemporary style building.
CaliforniaDevelopmentNewsWestern

USA Properties, Pinyon Group Begin Construction on $81.2 Million Affordable Building in Santa Clara, California

by Channing Hamilton

SANTA CLARA, CALIF. — USA Properties Fund and The Pinyon Group have begun construction on Mainline North, an affordable community in Santa Clara, four miles from San Jose, California. The $81.2 million project is the result of a public-private partnership including Bank of America, California Housing Finance Agency, the City of Santa Clara, Google, Housing Trust Silicon Valley, Ensemble Real Estate Investments and Related. Mainline North will include 151 studio, one- and two-bedroom units for tenants earning at or below 30 percent of the area median income (AMI). Construction on …

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River Oaks at Westheimer, a contemporary style high rise building.
DevelopmentNewsTexas

High Street Residential, Daiwa House Industry Co. Break Ground on River Oaks at Westheimer in Houston

by Channing Hamilton

HOUSTON — High Street Residential and Daiwa House Industry Co. are developing River Oaks at Westheimer in Houston. The building will rise 12 stories and offer 209 one- and three-bedroom units, as well as 2,900 square feet of ground-floor retail space. Amenities include work space, a reading room, fitness center with a yoga room, pool, lounge, dog park and pet-grooming room, bike storage, and EV charging stations. The first units will be complete in 2025. Sumitomo Mitsui Trust Bank is providing construction financing for the project. Zeigler Cooper Architects is …

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Sunshine Villas, a yellow and brown multifamily building. The property is designated with a digitally-drawn yellow line.
CaliforniaInvestment SalesNewsWestern

Northmarq Brokers Sale of 61-Unit Portfolio Near San Diego

by Channing Hamilton

EL CAJON, CALIF. — Northmarq has brokered the sale of a three-property, 61-unit portfolio in El Cajon, which is 15 miles northeast of San Diego. Northmarq’s investment sales team arranged the sale on behalf of the seller, El Cajon Investor 1 & 2. The portfolio includes: Sunshine Manor, a 19-unit property that was constructed in 1977; Sunshine Villas, a 19-unit, two-story building that was built in 1978; and East Winds, a gated community with 23 units. Erik Anderson, vice president of investment sales at Northmarq’s San Diego office, arranged the …

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Aureum facade rendering
DevelopmentNewsSoutheastTennessee

Chartwell and Southstar Break Ground on $500 Million Mixed-Use Project in Nashville Suburb

by Lynn Peisner

FRANKLIN, TENN. — Chartwell Hospitality and Southstar, a developer active in Middle Tennessee, have begun construction of a $500 million, 22-acre mixed-use project called Aureum in Franklin, which is about 30 miles southwest of Nashville. The first phase will consist of 355 units for sale and for rent, which Chartwell Residential, an affiliate of Chartwell Hospitality, will develop. At completion, the development will consist of office space, retail and entertainment venues, along with two hotels to be developed by Chartwell Hospitality. In addition, Aureum, which is Latin for gold, will …

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Northern-Boulevard-Astoria-Queens
DevelopmentNew YorkNewsNortheast

Cantor Fitzgerald and Silverstein Properties Close $165 Million Construction Loan for 345-Unit Property in New York City

by Kari Lloyd

NEW YORK CITY — Cantor Fitzgerald and Silverstein Properties have closed on $165 million in construction financing for the development of a 63,000-square-foot lot located at 44-01 Northern Blvd. in the Astoria neighborhood of Queens. The loan was provided by Banco Inbursa. Silverstein Properties commenced construction on the project in early 2022 and the property is expected to open in the spring of 2024.   The property is planned to deliver 345 units and 24,000 square feet of retail space. The development plans to allocate 25 percent of the rental …

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The front of Vero Apartments, a gray and white high rise building with orange and black accents.
Affordable HousingDevelopmentMassachusettsNewsNortheast

Fairfield Residential Completes First Phase of Vero Apartments Near Boston

by Channing Hamilton

CHELSEA, MASS. — Fairfield Residential has finished building the first phase of Vero Apartments in Chelsea, located about five miles north of Boston. The first phase consists of 436 units. The second phase, called V2, is underway and will deliver 250 additional apartments. A completion date for Phase II was not disclosed. The project is a redevelopment of the 126-year-old Chelsea Clock manufacturing building and a waste management transfer station. Vero Apartments offers studio, one- and two-bedroom units, with 14 units set aside as affordable housing. Rent restrictions on the …

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Middletown-Brooke-Apartments-Connecticut
ConnecticutInvestment SalesNewsNortheast

Hamilton Zanze Sells Two-Property Portfolio Near Hartford, Connecticut

by Kari Lloyd

MIDDLETOWN, CONN. — San Francisco-based real estate investment firm Hamilton Zanze has sold Middletown Brooke and Middletown Ridge Apartments in Middletown, a submarket of Hartford. The firm purchased the two-property, 516-unit portfolio in March 2018. The buyer and sale price were undisclosed. The Middletown Brook property features 280 units and has had significant renovations since its purchase in 2018. Built in 1989, the property offers amenities such as a clubroom, fitness center, swimming pool, dog park, barbecue areas and a carport. Middletown Ridge Apartments was built in 1988 and features …

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Investment SalesMarylandNewsNortheast

Greysteel Arranges Sale of 14-Building Whittier Avenue Portfolio in Baltimore

by Kari Lloyd

BALTIMORE — Greysteel, a national commercial real estate investment services firm, has arranged the sale of a 14-building portfolio in Baltimore. The deal consisted of six multifamily properties and eight single-family homes.  Aaron Inman, Kyle Tangney and Herb Schwat of Greysteel negotiated the transaction on behalf of the seller, an undisclosed private investor from Prince George’s County, Maryland. The undisclosed buyer is a joint venture of a family office from the New York area and a private equity firm from North Carolina. The properties have been managed by a sole …

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Park-39-Kansas-City
DevelopmentMidwestMissouriNews

Brain Group, Mercier Street Begin $250 Million Redevelopment Project, Plan 138-Unit Community

by Kari Lloyd

KANSAS CITY, MO. — Co-developers Brain Group and Mercier Street have started work on the conversion of the former Westport Middle and Westport High School campuses in Kansas City into Park 39, a $250 million live-work-play development. The property will be situated on 16 acres at 39th and McGee streets in the city’s Midtown district. Anchoring the project is The Residences at Park 39, a 138-unit apartment community within the four-story former Westport High School. The Residences are planned to include flexible work areas, a fitness center and mailroom, auditorium …

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