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A 3D render of Atlas Longmont, a four-story multifamily building in shades of brown.
ColoradoDevelopmentNewsWestern

Dinerstein Cos. Plans 371-Unit Atlas Longmont Multifamily Community in Longmont, Colorado

by Channing Hamilton

LONGMONT, COLO. — The Dinerstein Cos. has unveiled its plans to develop Atlas Longmont, an apartment property located at 301 First Ave. in Longmont. Situated on 12 acres, Atlas Longmont will feature 371 studio, one-, two- and three-bedroom apartments ranging from 541 square feet to 1,411 square feet. The 300,000-square-foot property will consist of 10 three-story buildings, one four-story residential building and a two-story leasing and amenity building. Community amenities will include an outdoor pool, multiple spas, a clubhouse, roof deck and coworking space. An affiliate of The Dinerstein Cos. …

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DevelopmentNewsTexas

Partnership Buys 314,514 SF Office Building in Downtown Fort Worth, Plans Multifamily Redevelopment

by Channing Hamilton

FORT WORTH, TEXAS — A partnership between two Chicago-based investment firms, 3L Real Estate and Syndicated Equities, has purchased The Oncor, a 314,514-square-foot office building in downtown Fort Worth. The new ownership plans to convert the building into a 330-unit multifamily community with Class A amenities, including a pool, fitness center,  rooftop deck and a business center. The seller and sales price were not disclosed. A construction timeline was also not released.

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DevelopmentNew JerseyNewsNortheast

Diversified Properties Acquires Land in Jefferson, New Jersey, for Multifamily Project

by Channing Hamilton

JEFFERSON, N.J. — Locally based developer Diversified Properties has acquired two lots totaling 9.8 acres in the Northern New Jersey community of Jefferson for the construction of a new multifamily project. Phase I of the project, which will be known as Jefferson Place, will total 32 units. Residences will be available in one- and two-bedroom floor plans and will range in size from 855 to 1,216 square feet. Amenities will include a fitness center, and an outdoor lounge with grilling and dining stations. Details of Phase II were not disclosed. …

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Alivia Apartments' skimming pool, a small pool surrounded by plants, palm trees and buildings.
CaliforniaInvestment SalesNewsWestern

Fairfield Carmenita Sells Alivia Apartments in Whittier, California for $49.6M

by Channing Hamilton

WHITTIER, CALIF. — Fairfield Carmenita LP has completed the disposition of Alivia Apartments, a multifamily community in Whittier, to NexGen Properties Group for $49.6 million, or $387,695 per unit. Completed in 2022, Alivia Apartments features seven residential buildings comprising 68 one-bed/one-bath units and 60 two-bed/two-bath units. All units offer stainless steel appliances, washers/dryers, kitchen islands with storage, and wood-style plank flooring. Community amenities include a resort-style pool and spa, fitness center, social lounge, dog park and outdoor fire lounge. Kevin Green, Joseph Grabiec and Greg Harris of Institutional Property Advisors, …

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The Cypress Parc swimming pool surrounded by a fence and buildings.
BerkadiaInvestment SalesNewsTexas

Berkadia Negotiates Sale of 200-Unit Cypress Parc Apartments in North Houston

by Channing Hamilton

HOUSTON — Berkadia has negotiated the sale of Cypress Parc, a 200-unit apartment complex in North Houston. The property offers two- and three-bedroom units that range in size from 926 to 1,420 square feet. Residences features walk-in closets, washer and dryer connections and private balconies/patios. Amenities include a pool, fitness center, business center, clubhouse, volleyball court and outdoor grilling and dining areas. Chris Young, Joey Rippel, Kyle Whitney, Jeffrey Skipworth, Chris Curry and Todd Marix of Berkadia represented the seller, Utah-based investment firm Lionel Partners, in the transaction. Cutt Ableson …

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Riverlands Apartments, a two-story brick multifamily community.
Investment SalesNewsSoutheastVirginia

Blackfin Purchases Riverlands Apartments in Newport News, Virginia for $44.2M

by Channing Hamilton

NEWPORT NEWS, VA. — Blackfin Real Estate Investors LLC has purchased Riverlands Apartments, a 404-unit multifamily community located in the Hampton Roads town of Newport News, for $44.2 million. Hank Hankins, Charles Wentworth, Victoria Pickett and Garrison Gore of Colliers represented the seller, an undisclosed developer that has owned the property since it was delivered in 1989. Riverlands features one-, two- and three-bedroom apartments, as well as a pool and fitness center. The property is adjacent to Westover Station, a 108-unit property that Blackfin acquired in November 2020. Overall Blackfin …

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7 Dekalb, a gray multifamily high-rise building, among other high rise buildings.
Investment SalesNew YorkNewsNortheast

Avanath Capital Management Buys Brooklyn Apartment Building for $101.2M

by Channing Hamilton

NEW YORK CITY — California-based investment firm Avanath Capital Management has purchased 7 Dekalb, a 251-unit apartment building in Brooklyn, for $101.2 million. The 18-story building, which features mix of market-rate and affordable housing units, is located within the City Point mixed-use development. Amenities include a fitness center, rooftop deck, children’s play area, tenant lounge and a cinema room. Newmark represented the seller, The Brodsky Organization, in the transaction. Avanath plans to introduce new social services programs for residents, including afterschool care, professional development workshops and health classes.

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851 W Grand, a gray and green 6-story multifamily building.
IllinoisInvestment SalesMidwestNews

Interra Realty Negotiates $11M Sale of Transit-Oriented Multifamily Property in Chicago

by Channing Hamilton

CHICAGO — Interra Realty has negotiated the sale of a 36-unit, transit-oriented multifamily property in Chicago’s Fulton River district for $11 million. Located at 851 W. Grand Ave., the building features seven studios, 20 one-bedroom units and nine two-bedroom units. Amenities include a bike room, dry-cleaning pickup, tenant storage, a package room and onsite parking. Constructed in 2017, the property was 95 percent leased at the time of sale. The building is situated one block from the Chicago Transit Authority (CTA) Grand Blue Line station and is also in proximity …

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NewsPeople NewsTexas

Kelli Carhart Appointed Leader of CBRE’s National Multifamily Platform 

by Channing Hamilton

DALLAS — CBRE has appointed Kelli Carhart to the position of executive managing director and leader of multifamily capital markets for the United States. Carhart will lead CBRE’s multifamily services, which include investment sales and financing. She will oversee expansion of CBRE’s multifamily business nationally across five regions, with leaders appointed for each area: Eli Hanacek in the Northwest, Asher Gunter in the Southwest, Danny Baker in the central region, and Shea Campbell in the Southeast. A leader for the Northeast region has not yet been announced. Carhart succeeds Brian McAuliffe.

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A 3D render of Thurgood Marshall Plaza, a red and gray building with yellow, red, and white blocks between windows.
Affordable HousingFinanceNew YorkNewsNortheast

Walker & Dunlop Arranges $120M in Financing for Harlem Affordable Housing Portfolio

by Channing Hamilton

NEW YORK CITY — Walker & Dunlop has arranged $120 million in financing for a portfolio of three affordable housing properties totaling 557 units in Harlem. The portfolio’s capital stack now includes agency debt originated by Freddie Mac and historic tax credit equity that was generated by The New York City Housing Authority (NYCHA) and was subsequently purchased by J.P. Morgan Chase. Proceeds will be used to rehabilitate and preserve the affordability status of Audubon Houses, Bethune Gardens and Thurgood Marshall Plaza, which were built between 1962 and 1985. The …

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