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625 Kennedy Blvd North Bergen
Investment SalesNew JerseyNewsNortheast

Redwood Realty Arranges $2.5 Million Sale of 24-Unit Property in North Bergen, New Jersey

by Kari Lloyd

NORTH BERGEN, N.J. — Redwood Realty Advisors has arranged the sale of a 24-unit property at 625 Kennedy Blvd. in North Bergen. Situated in New Jersey’s Gold Coast area, the asset sold for $2.5 million in an all-cash transaction. The property has had not changed hands in over 25 years. The undisclosed buyer and seller were both represented by Steven Matovski, director of Redwood Realty. All units at the 625 Kennedy Blvd. property are one-bedroom layouts. Roughly 30 percent of the units were vacant as of the close of sale. …

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Affordable HousingDevelopmentNewsTexas

Mintwood Real Estate, MSquared, Mirasol Capital Break Ground on Mixed-Income Community in Dallas

by Channing Hamilton

DALLAS — Mintwood Real Estate, MSquared and Mirasol Capital have broken ground on Oakhouse in the southwest Dallas neighborhood of Oak Cliff. An undisclosed amount of financing was provided by Independent Financial. Oakhouse will comprise 219 units, 110 of which will be reserved for households earning at or below 80 percent of the area median income (AMI). Community amenities at Oakhouse will include a rooftop lounge, pool, dog park, fitness center and co-working spaces. A construction timeline for the development was not disclosed. The project team also includes general contractor …

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Affordable HousingArizonaDevelopmentNewsWestern

Roers Cos. Secures $90 Million to Develop Affordable Housing Community near Phoenix, Arizona

by Channing Hamilton

BUCKEYE, ARIZ. — Roers Cos. has secured financing for the development of Solana Villas, an affordable housing community in Buckeye, approximately 37 miles west of Phoenix. Funding for the project was provided by Merchants Capital and Merchants Bank of Indiana (MBI). Merchants Capital secured $90 in financing for the property, including a $33 million MBI tax-exempt construction loan, a $24 million construction loan and a $31.5 million Freddie Mac loan. Additionally, MBI provided a 4 percent LIHTC equity investment of $27.8 million. Solana Villas will sit on approximately 10.7 acres …

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Rendering of The Wellory in Huntsville
AlabamaDevelopmentNewsSoutheast

RCP Cos. Secures $62.1 Million Construction Loan for Huntsville Project

by Lynn Peisner

HUNTSVLLE, ALA. — Northmarq has arranged $62.1 million in construction financing through an undisclosed regional bank for RCP Cos. The financing is partially funding the $108 million multifamily development called The Wellory. Locally based RCP, along with Grounded Capital Partners, is building the 328-unit property, with 13,582 square feet of ground-floor retail space, within its master planned MidCity District project. According to RCP, The Wellory will be a net zero community with a LEED Platinum rating. Amenities will include a clubroom, located on the sixth floor and dubbed “sky lounge,” …

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View of the pool area at The Falls at Mill Creek in Nashville
Investment SalesNewsSoutheastTennessee

WhiteRock Buys Nashville Value-Add Property for $35.5 Million

by Lynn Peisner

NASHVILLE, TENN. — Capstone has arranged the $35.5 million sale of The Falls at Mill Creek, a 204-unit community in Nashville, located about seven miles southeast of downtown. Capstone represented both the seller, Alexander Properties, and the buyer, WhiteRock Real Estate, who plans to upgrade the fitness center, clubhouse and exterior leisure areas. The property was built in 1973 and renovated in 2016. The Capstone transaction team was led by Adam Klenk, Austin Heithcock, Jordan Arand and Joshua White. Falls at Mill Creek is made up of one-, two- and …

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A small pool in front of a yellow clubhouse with black roofing.
Investment SalesNewsTexas

GVA Real Estate Group Sells The Lex in Dallas to Dunleer

by Channing Hamilton

DALLAS — GVA Real Estate Group has sold The Lex, a 144-unit community in Dallas’ Lake Highlands neighborhood, to Los Angeles-based investment group Dunleer. IPA brokered the sale and arranged acquisition financing. The Lex was built in 1984. The property is a gated-access garden style community that offers amenities such as covered parking, outdoor grilling stations, complimentary bicycle rentals and a pool. IPA’s Taylor Hill, Drew Kile, Joey Tumminello, Michael Ware, Will Balthrope and Cameron Purse represented the seller. IPA Capital Markets’ Brian Eisendrath, Cameron Chalfant, Jake Vitta and Jesse …

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A sign off the road reading "Meadowland Apartments" with a two-story leasing office behind it.
Investment SalesNewsOregonWestern

JLL Brokers $26.9 Million Sale of Meadowland Apartments in Portland, Oregon

by Channing Hamilton

PORTLAND, ORE. — NBP Capital has sold Meadowlands Apartments in Portland to Glencrest Group for $26.9 million. JLL Capital Markets brokered the sale, representing the seller in the deal, and arranged a 10-year, fixed-rate Freddie Mac loan for Glencrest Group. The 168-unit, garden-style community will be rebranded as Township Eastside. The property was built in 1991 and includes two-bedroom units with in-unit washers and dryers and a patio or balcony. Community amenities include a clubhouse, a pool and a playground. The JLL Investment Sales and Advisory team representing the seller …

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Exterior pool shot of The Maggie, a new project in Jacksonville delivering in 2024.
DevelopmentFloridaNewsSoutheast

RangeWater Acquires Land for Its Sixth Jacksonville Development

by Lynn Peisner

JACKSONVILLE, FLA. — RangeWater Real Estate has acquired 28.6 acres in the San Jose neighborhood of Jacksonville for the development of a 280-unit property. This project, called The Maggie, will be the Atlanta-based developer’s sixth in the Jacksonville market. ParkProperty Capital is RangeWater’s equity partner. San Jose is a historic neighborhood, founded in the early 1900s, that is about 8 miles south of downtown Jacksonville. The Maggie will feature a clubhouse with a meeting space, a resident’s lounge and a fitness center with cardio, yoga and strength training equipment. The …

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The clubhouse of Avia Sanctuary at Highland Mall, with light wood flooring and a white brick fireplace.
DevelopmentInvestment SalesNewsTexas

PEG Cos. Sells 96-Unit Hotel-to-Multifamily Conversion in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — PEG Cos., a commercial real estate investment firm based in Provo, Utah, has sold AVIA Sanctuary at Highland Mall to an undisclosed buyer. AVIA Sanctuary at Highland Mall is a newly converted development in Austin that previously operated as the Habitat Suites extended stay hotel. PEG Cos. purchased the property in 2020. The community now comprises 96 units and offers amenities such as a clubhouse, fitness center, co-working spaces and a pool.

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Metro Greenway, a brick and brown cement multifamily building with a swimming pool at the base.
Investment SalesNewsTexas

Simpson Housing Sells 309-Unit Metro Greenway in Houston 

by Channing Hamilton

HOUSTON — Berkadia has brokered the sale of Metro Greenway, a 309-unit community in central Houston. Simpson Housing, a developer and manager based in Denver, sold the property to Westdale, a real estate investment and management company based in Dallas.  Berkadia’s Todd Marix, Chris Curry, Jeffrey Skipworth, Chris Young, Joey Rippel and Kyle Whitney represented the seller in the transaction. Metro Greenway was built by The Dinerstein Cos. in 2008. The property comprises four residential stories above a two-story parking podium with 504 parking spaces. Metro Greenway offers one- and …

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