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The Citizen in Bound Brook, N.J.
Leasing & MarketingNew JerseyNewsNortheast

Accurate Begins Leasing 105-Unit Property in Bound Brook, New Jersey

by Kari Lloyd

BOUND BROOK, N.J. — Accurate has begun leasing Citizen Bound Brook, a 105-unit property located in Bound Brook, New Jersey. The development was designed by Jarmel Kizel Architects & Engineers. The property offers studio, one- and two-bedroom units with stainless steel appliances, quartz countertops and tile backsplashes. Resident amenities include a clubroom, fitness center and a landscaped terrace. The building also houses 5,000 square feet of street-level retail space. Rents start at approximately $1,600 per month for a studio.

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The District at 1515
DevelopmentNew JerseyNewsNortheast

Partnership to Develop 498-Unit Project in Parsippany, New Jersey

by Kari Lloyd

PARSIPPANY, N.J. — A partnership between Los Angeles-based PCCP LLC, Claremont Development and Stanbery Development will build The District at 1515, a 498-unit project in the Northern New Jersey community of Parsippany. Residential amenities will include a pool, fitness center, lounge area, conference center and a pet spa. The four-building development will include 58,866 square feet of retail space that will be marketed to a mix of full-service and fast-casual restaurants, as well as fitness users and soft goods merchandisers. Completion is slated for early 2025.

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The Row in Fulton Market, Chicago.
DevelopmentIllinoisMidwestNews

Related Midwest’s 300-Unit High-Rise Under Development in Chicago Is Set for Completion in June

by Kari Lloyd

CHICAGO — Chicago-based developer Related Midwest has revealed project details for The Row Fulton Market, a 43-story, 300-unit high-rise currently under construction in Chicago’s historic Fulton Market District. Located at 164 N. Peoria St., the development is currently scheduled to open in June. Developed under the recently passed Affordable Illinois legislation, The Row is one of Chicago’s first 80/20 buildings, setting aside 20 percent of residences for affordable housing Resident amenities include a fitness club, yoga studio, children’s play suite, reservable entertainment suite with adjacent terrace and outdoor kitchen, multiple …

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IllinoisMidwestNewsOperations

Peak Properties to Assume Management Duties at 10-Unit Vintage Building in Chicago’s Logan Square

by Kari Lloyd

CHICAGO — Peak Properties LLC will take on management duties for the 10-unit property at 2919-2921 N. Whipple in Chicago’s Logan Square neighborhood. An unnamed local investor acquired the property for $2 million as part of a 1031 exchange in November 2022. Built in 1927, the vintage building features 10 one-bedroom units all with updated bathrooms, kitchens with stainless steel appliances. Key elements of the property were addressed after the building was purchased, including the roof, windows, boiler and electrical service.

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741 N. Wells Apartments
DevelopmentIllinoisMidwestNews

Developer Tops Out Mixed-Use Tower Featuring 168 Apartment Units in Chicago’s River North

by Kari Lloyd

CHICAGO — Developer VISTA Property and general contractor Skender have topped out construction on 741 N. Wells Street, a new mixed-use development in Chicago’s River North neighborhood. The 21-story, 201,000-square-foot development will include 168 units. Community amenities include a rooftop terrace with pool, meeting facilities, exercise area, bicycle storage and parking for roughly 50 vehicles. VISTA Property financed the project with a first mortgage loan from Huntington Bank. In addition to VISTA Property and Skender, the project development team includes Antunovich Associates as architects. Luxury Living Chicago Realty will head …

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A rendering of Card Sound Key Apartments
DevelopmentFloridaNewsSoutheast

Coral Rock Development Will Break Ground in 2024 on Workforce Project Near Miami

by Lynn Peisner

FLORIDA CITY, FLA. — Coral Rock Development Group will break ground in 2024 on Card Sound Key Apartments in Florida City, approximately 40 miles south of Miami.  Card Sound Key Apartments will be comprised of 342 units in one-, two- and three-bedroom layouts. The developer says 20 percent of the units will be workforce housing, reserved for renters earning 100 percent or less of the area median income (AMI). Amenities will include an outdoor workout circuit called Vita Course, a pool, barbecue area, two-story clubhouse, dog park, playground and a …

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CaliforniaInvestment SalesNewsWestern

CMCT Acquires Three Apartment Buildings in California

by Channing Hamilton

LOS ANGELES AND OAKLAND, CALIF. — Creative Media & Community Trust Corp., a Dallas-based real estate investment trust operated by affiliates of CIM Group, has acquired three apartment assets in California. The properties are Parkview Apartments, a 75-unit community in the Echo Park neighborhood of Los Angeles and the 288-unit Eleven Fifty Clay and the 33-unit Channel House both located in Oakland. The acquisition cost was not disclosed.

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Company NewsNewsWashingtonWestern

Capstone Cos. Opens Seattle Office

by Channing Hamilton

SEATTLE — Capstone Cos. has opened a multifamily brokerage office in Seattle and hired Evan McLeod and Chris Hardman to lead the team. McLeod and Hardman, whose respective titles are managing director and director, join Capstone from Seattle-based investment sales firm CPX. Prior to CPX, both McLeod and Hardman worked for Marcus & Millichap. Capstone says it will announce additional new office openings in 2023. Last year, the firm opened offices in Salt Lake City, Indianapolis and Huntsville, Alabama.

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Exterior of the recently sold LC by CLG apartment building
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $46.5 Million Sale of LC by CLG in Los Angeles

by Lynn Peisner

LOS ANGELES — California Landmark Group has sold LC by CLG to a private partnership formed by Santa Barbara, California-based Harrison Yale Hurst and Richard Rosin of H&R Investments. CBRE’s Dean Zander and Stewart Weston arranged the sale and represented the seller, a developer known for its CLG-branded properties. The asset sold for $46.5 million. LC by CLG is adjacent to Paramount Studios and located in the Larchmont Village neighborhood. The 84-unit community includes amenities such as a rooftop deck with a pool, barbecues, fire pits, seating areas and views …

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Rendering of Mira Raleigh
DevelopmentNewsNorth CarolinaSoutheast

Origin Investments, Spandrel Development Partners to Co-Develop Midrise in Raleigh, North Carolina

by Lynn Peisner

RALEIGH, N.C. — Origin Investments and Spandrel Development Partners will co-develop an $87.4 million mixed-use project in Raleigh’s central business district. Mira Raleigh will be a seven-story building that will house 288 apartment units and 2,600 square feet of ground-floor office space.  Units will be comprised of 80 studios, 130 one-bedroom units and 78 two bedrooms in a variety of floor plans. Amenities will include a club room with chef’s kitchen and bar area, a sky lounge with skyline views, coworking spaces and a 24-hour fitness center with Peloton bikes. …

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