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7770-Pipers-Lane
Investment SalesNewsTexas

Platte Canyon Capital Buys Allure Apartments in San Antonio

by Lynn Peisner

SAN ANTONIO — Platte Canyon Capital (PCC), in partnership with an unnamed Los Angeles-based institutional real estate investment manager, has acquired Allure Apartments in an off-market transaction. The 268-unit community in San Antonio was developed in phases on 11.5 acres, with the first 116 units constructed in 1984 and another 152 delivered in 2017. The property is in the Westover Hills submarket and includes one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, clubhouse, playground and grilling areas. PCC is planning a $4.7 million capital improvement program …

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The-Faywell-Wheaton
DevelopmentIllinoisMidwestNews

Banner Real Estate Secures $124 Million in Debt and Equity for Suburban Chicago Project

by Lynn Peisner

WHEATON, Ill. — Banner Real Estate Group has secured $124 million in debt and equity and broken ground on The Faywell in Wheaton, 30 miles west of Chicago. The financing includes an $84 million construction loan from PNC Bank and approximately $40 million in joint venture equity, according to Crain’s Chicago Business. The 2.6-acre development site is an assemblage of 13 parcels and involved seven separate sellers. The deal took about five years to put together. The site is adjacent to the Metra Union Pacific West station with service to downtown …

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ProspectLakeWire
Company NewsGeorgiaNewsPeople NewsSoutheastTexas

Hunt Cos. Acquires Controlling Interest in Carter

by Lynn Peisner

EL PASO, TEXAS, AND ATLANTA — Hunt Cos. Inc., an El Paso-based holding company with a focus on real estate, infrastructure and financial services, has acquired a majority stake in Carter, an Atlanta-based real estate investment and development firm. The companies have partnered on past development projects, including Prospect Lake Wire, a mixed-use development completed in 2024 in Lakeland, Florida, and The DeSOTA, an apartment community in Sarasota, Florida, completed in 2018. With this change, Bob Peterson, long-time chief executive officer and chairman of Carter, has announced his retirement. Following …

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Perse-Apartments
FloridaInvestment SalesNewsSoutheast

Atlas Real Estate Partners Buys Perse Apartments in Orlando

by Lynn Peisner

ORLANDO, FLA. — Atlas Real Estate Partners has acquired Perse Apartments, a 384-unit community located in Orlando, about three miles from Disney World. The seller, TRION Properties, was represented by JLL’s Capital Markets Investment Sales and Advisory team led by Directors Ted Taylor and Kyle Butler. Financing was arranged by Scott Wadler, Mitch Sinberg, Matt Robbin and Brad Williamson of Berkadia. Built in 2008, Perse Apartments consists of one-, two- and three-bedroom units averaging approximately 1,100 square feet. Atlas is planning a value-add strategy during its hold period with capital …

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wellington-apartment-homes
Investment SalesNewsWashingtonWestern

MLG Capital Completes First Acquisition in Washington State

by Lynn Peisner

SILVERDALE, WASH. — MLG Capital, a real estate investor based out of Brookfield, Wisconsin, has acquired Wellington Apartment Homes in Silverdale, about 35 miles west of Seattle. The transaction marks the buyer’s first acquisition in Washington state. The 240-unit, garden-style property offers a heated pool, a clubhouse, a fitness center and a dog park. During its hold period, MLG is planning interior and exterior renovations, including installing stainless steel appliances, granite countertops and other upgraded features in all units, as well as curb appeal and amenity improvements. MLG bought the …

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Magnolia-at-Powell
Build-to-RentDevelopmentFinanceFloridaNewsSoutheast

Agador Spartacus Receives $26 Million Loan for Magnolia at Powell

by Lynn Peisner

WILDWOOD, FLA. — Agador Spartacus has secured a $26 million take-out bridge loan on existing construction debt used to build Magnolia at Powell in Wildwood. The Aventura, Florida-based developer completed the build-to-rent project in January. JLL Capital Markets arranged the financing with a team led by Managing Director Max La Cava, Senior Managing Director Melissa Quinn, Vice President Rob Rothaug and Analyst Jade Starkey. The funding provider of the loan was not disclosed. Magnolia at Powell is located adjacent to The Villages active adult community and features one-, two- and …

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Crest-Manor
Investment SalesNewsTexas

Joint Venture Buys Crest Manor Near Dallas

by Lynn Peisner

LEWISVILLE, TEXAS — SPI Advisory and FCP have acquired Crest Manor Apartments, a 600-unit community in Lewisville, 25 miles north of Dallas. SPI said in a release it had been in discussions with the undisclosed developer and seller for the past five years and acquired the asset in an off-market transaction. Crest Manor was developed in two phases in 2010 and 2016. Amenities include two pools, a clubhouse, fitness center, tennis courts and walking trails. Units are offered in one-, two- and three-bedroom floor plans. The joint venture partners are …

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Old-Ivy-Charlottesville
Build-to-RentDevelopmentNewsSoutheastVirginia

Greystar Underway on BTR Project Near UVA

by Lynn Peisner

CHARLOTTESVILLE, VA. — Greystar has broken ground on Old Ivy, a 525-unit community in Charlottesville. The development site is just off the University of Virginia campus, east of Highway 29, between Old Ivy and Leonard Sandridge roads. The project includes a variety of homes, including apartments, standalone dwellings, duplexes and townhomes. More specifically, Old Ivy will be comprised of 336 apartments, with one-, two- and three-bedroom floorplans, and 189 build-to-rent residences, consisting of three-bedroom townhomes as well as three-bedroom standalone homes clustered around green spaces or mini parks, some with …

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Manteca-Golf-and-Tennis-Villas
CaliforniaInvestment SalesNewsWestern

Marcus & Millichap Closes $15.6 Million Sale in California’s Central Valley

by Lynn Peisner

MANTECA, CALIF. — Marcus & Millichap has arranged the sale of Manteca Golf & Tennis Villas, a 56-unit property in Manteca, a city between Modesto and Stockton, California, and about 76 miles west of San Francisco. The property sold for $15.6 million. Stephen Jackson and Joe Owens, both senior directors with Marcus & Millichap, represented the seller. Neither party to the transaction was identified. Completed in 1985, Manteca Golf & Tennis, which is adjacent to a golf course, has a pool, laundry facilities and a tennis court. Units feature washer …

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Portman-Fairburn
DevelopmentGeorgiaNewsSoutheast

Portman to Develop Mixed-Use Project, with 332 units, Near Atlanta

by Lynn Peisner

FAIRBURN, GA. — Portman has closed on a land deal in Fairburn, an Atlanta suburb, where it plans to develop a 332-unit property with retail and greenspace. The Atlanta-based development company, founded in 1957, will break ground in late July and estimates completion by June 2027. Meadow Glen Village will include a variety of home types across nine buildings, each with its own dedicated parking. It will also feature a town green for resident events as well as public use. The greenspace will be flanked by two 6,000-square-foot retail buildings that …

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