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Exterior rendering of the Estate Cos. new project in Pompano Beach that will deliver in 2024

The Estate Cos. Breaks Ground on Broward County Mixed-Use Project

by Lynn Peisner February 22, 2023

POMPANO BEACH, FLA. — The Estate Cos. has broken ground on Soleste Pompano Beach, an eight-story, mixed-use community with 253 apartments and 4,000 square feet of commercial space. The project is in Pompano Beach, about 10 miles north of Fort Lauderdale. Soleste Pompano Beach will offer studios, one- and two- bedroom units and “live-work units,” which the developer defines as apartments with a combination of residential and business space ranging in size from 450 to 1,050 square feet. Amenities will include a resort-style pool and amenity deck with a fitness …

February 22, 2023

A drawing of a whitened gray single-story home with black roofing.

Arizona Development Finance News Western

Choice Bank Provides $33.8 Million Construction Loan for BTR Project Near Phoenix

by Channing Hamilton February 21, 2023

GOODYEAR, ARIZ. — Blue Vista Capital Management and Family Development have obtained $33.8 million in construction financing for Villas Goodyear, a build-to-rent development in Goodyear about 19 miles west of Phoenix. The development is expected to be complete in 2024. JLL Capital Markets represented the joint venture in securing the three-year, fixed-rate loan through Choice Bank. JLL’s team was led by Brian Walsh, Brad Miner and Dave Hunter. Villas Goodyear will comprise 151 one- and two-bedroom single-story units. Amenities will include a pool, fitness center, an outdoor lounge area and …

February 21, 2023

Finance New York News Northeast

Community Preservation Corporation, Proto Property Services Refinance 525-Unit Affordable Housing Property in Brooklyn for $100 Million

by Kari Lloyd February 21, 2023

BROOKLYN, N.Y. — The Community Preservation Corporation and Proto Property Services have refinanced Riverdale Osborne Towers, a 525-unit affordable housing complex in the Brownsville neighborhood of Brooklyn. The $100 million loan was provided by Rockport Mortgage Corporation under a HUD 223(f) loan. The complex consists of four, nine-story residential buildings with 525 affordable homes for low-income families. The property also includes a preschool and 10,500 square feet of retail space, including the only full-service grocery store in the area. The refinance will preserve the long-term affordability of all 525 homes …

February 21, 2023

Development Midwest News Ohio

Crawford Hoying Acquires 592-Unit The Banks Mixed-Use Property in Cincinnati

by Kari Lloyd February 21, 2023

CINCINNATI — Crawford Hoying, a real estate developer based in suburban Columbus, has acquired The Banks, a two-property, 592-unit project located in Cincinnati. The property was sold by Nicol Investment Company for an undisclosed price. The Banks project consists of two properties, Current at the Banks and Radius at the Banks, totaling 592 units. In addition, the development has approximately 100,000 square feet of ground-floor retail. Located between Cincinnati’s MLB and NFL stadiums, the riverfront portfolio at The Banks connects the city grid and downtown to the historic riverfront. The …

February 21, 2023

Affordable Housing Development Massachusetts News Northeast

City of Boston Funds Mixed-Use, Mixed-Income Columbia Crossing Development

by Kari Lloyd February 21, 2023

BOSTON — The City of Boston and Mayor Michelle Wu have funded an undisclosed amount of funding for Columbia Crossing in the Dorchester neighborhood. The proposed development plans to transform the historic Dorchester Savings Bank building and adjacent parking lot into an approximately 86,000-square-foot residential and commercial complex. The project will be developed by the Preservation of Affordable Housing (POAH) in partnership with the Dorchester Bay Economic Development Corporation (DBEDC). Plans include the adaptive reuse of the bank building into affordable rental housing and the construction of a six-story building at …

February 21, 2023

Investment Sales News Texas

Northmarq Brokers Sale of 56-Unit Encore Apartments in Victoria, Texas

by Channing Hamilton February 21, 2023

VICTORIA, TEXAS — Northmarq’s San Antonio office has arranged the sale of Encore Apartments, a 56-unit property in Victoria, Texas, about 115 miles southeast of San Antonio. Moses Siller, Zar Haro, Bryan VanCura, Phil Grafe, Brian Booth and Stephanie Hernandez represented the seller, San Antonio-based private equity real estate company 3CM Multifamily. The buyer was undisclosed. The property was built in 1972 and comprises 14 two-story buildings. Units are offered in one-, two- and three-bedroom floor plans. Amenities at the property include covered parking, a pool and a pet park.

February 21, 2023

Exterior of Marina Shores in Virginia Beach, Virginia

Investment Sales News Southeast Virginia

Cushman & Wakefield Arranges $101.9 Million Sale of Marina Shores in Virginia Beach, Virginia

by Lynn Peisner February 21, 2023

VIRGINIA BEACH, VA. — FPA Multifamily has acquired Marina Shores Apartment Homes in Virginia Beach for $101.9 million. Cushman & Wakefield’s Jorge Rosa and TJ Liberto partnered with NAI Global to represent the seller in the transaction. The 392-unit property consists of one-, two- and three-bedroom units. Amenities include a saltwater pool, fitness center, resident clubhouse and kitchen, two dog parks, outdoor grilling and lounge areas, a tennis court and covered parking. The property is about half a mile from the Chesapeake Bay waterfront. According to ApartmentRatings, monthly rental rates …

February 21, 2023

Exterior of the Exchange at Windsor Hill in Charleston

Investment Sales News South Carolina Southeast

Cushman & Wakefield, Greystone Arrange North Charleston Transaction

by Lynn Peisner February 21, 2023

CHARLESTON, S.C. — Cushman & Wakefield and Greystone have arranged the sale of and financing for Exchange at Windsor Hill, a 312-unit community in Charleston. The buyer is American Landmark Apartments, and the seller is Carter Funds and Barrymor Enterprises of NJ. Cushman & Wakefield’s John Phoenix, Louis Smart and Austin Green represented the sellers in the transaction. Greystone Managing Director Donny Rosenberg arranged the 10-year, Freddie Mac Optigo acquisition loan. Exchange at Windsor Hill was built in 2020 in the North Charleston submarket. Amenities include a resort-style pool with …

February 21, 2023

New Jersey News Northeast Operations

The Monocle Group Selects Greystar for Management of 210 Main

by Kari Lloyd February 20, 2023

HACKENSACK, N.J. — The Monocle Group has selected Greystar Real Estate Partners LLC, as property manager of 210 Main, a two-building, 126-unit property in downtown Hackensack. Formerly a historic bank building and one of Hackensack’s first architectural landmarks, 210 Main was converted to apartments in 2021. The community consists of the 11-story, 89-unit building at 210 Main St. and the interconnected four-story, 37-unit building at 214 Main St. Amenities include a 24-hour fitness center, concierge, outdoor lounge with barbecue grills and fire pits, rentable event lounge, community laundry room and …

February 20, 2023

A construction site with the wood frames of several buildings in progress.

Development Nevada News Western

Lewis Apartment Communities Breaks Ground on 306-Unit Development in Sparks, Nevada

by Channing Hamilton February 20, 2023

SPARKS, NEV. — Lewis Apartment Communities, a development and management firm based out of Upland, California, has broken ground on Homecoming at Kiley Ranch in Sparks. Homecoming at Kiley Ranch will be a gated-access community. The development includes 306 apartment and townhome units and will feature amenities such as a clubhouse with fitness center and package lockers, a pool, barbeques, firepits, playground, dog park and EV chargers. Apartments offer one-, two-, three- and four-bedroom floor plans featuring balconies or patios, washers and dryers, walk-in closets and stainless-steel kitchen appliances. Townhomes …

February 20, 2023

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