SURPRISE, ARIZ. — Christopher Todd Capital has acquired Yardly Paradisi, a 193-unit build-to-rent (BTR) property in Surprise, from Taylor Morrison. Northmarq arranged the sale as well as $32.8 million in acquisition financing. Scottsdale, Arizona-based Taylor Morrison is a for-sale homebuilder that also develops and acquires newly constructed for-rent housing communities under its Yardly brand. The buyer is a BTR operator known for its Christopher Todd Communities brand. Northmarq’s Phoenix-based team, led by Trevor Koskovich, Jesse Hudson and Logan Baca, represented the seller in the transaction, while Brandon Harrington, Bryan Mummaw, …
CHAMBLEE, GA. — Atlas Real Estate Partners has opened The Hawkins, a 192-unit property in Chamblee, 14 miles northeast of downtown Atlanta. In addition to Atlas, the development team included FIDES Development, New South Construction, Nelson Architects, Banko Design and Greystar Property Management. The Hawkins offers a mix of studio, one-, two- and three-bedroom units and such amenities as a sky lounge with panoramic views of the neighboring Dekalb-Peachtree Airport, coworking spaces, an indoor-outdoor fitness center, a resort-style pool, ground-floor retail and a dog spa.
HACIENDA HEIGHTS, CALIF. — Eagle Partners has acquired Hills at Hacienda Heights, a 350-unit community about 20 miles east of Los Angeles in Hacienda Heights. The asset traded for $107 million. Institutional Property Advisors (IPA) arranged the sale, representing the undisclosed seller, and $71 million in acquisition financing for the buyer. Kevin Green, Joseph Grabiec and Gregory Harris led IPA’s team. Eagle Partners will convert the property from market-rate to affordable housing, restricting rents at 80 percent of area median income. Project partners in the conversion included Red Stone Equity …
HOCKLEY, TEXAS — Architect KTGY and developer Empire Homes have completed Veranda Dellbrook, a 182-unit build-to-rent community in Hockley. The property is located within the Dellrose master-planned community, approximately 35 miles northwest of Houston. Veranda Dellbrook is modeled on a concept developed by KTGY called The Patch, defined by a walkable cottage-community format featuring internal walkways that connect each home and amenity space. Veranda Dellbrook offers one-, two-, three- and four-bedroom residences, each with private yards. Amenities feature a clubhouse, a resort-style pool and hot tub, an outdoor lounge with …
ARLINGTON HEIGHTS, ILL. — Marquette Cos. has acquired Orion Arlington Lakes, a 198-unit community in Arlington Heights, 25 miles northwest of Chicago. Immediate plans for the community include a rebranding to Avery at Arlington Lakes and the launch of value-add renovations of units and amenities, which include the construction of a new fitness center. As part of the transaction, Marquette Management will take over property management. Twenty-five percent of the units already have been renovated. The seller and sales price were not disclosed. Originally constructed in 1985, the property comprises …
NEW YORK CITY — Berkadia has arranged a $32.4 million Freddie Mac construction take-out loan on behalf of The Stagg Group. The affordable housing developer, owner and investor will use the funds to retire the existing construction loan on The Riverdale Tower. The 89-unit property is 100 percent occupied. Berkadia’s Matt Nihan arranged the financing. Located at 3745 Riverdale Ave., The Riverdale Tower was completed in 2024 and is an 18-story high-rise offering a mix of studio, one- and two-bedroom units ranging from 400 to 900 square feet. The property …
HOUSTON — OHT Partners has broken ground on a 336-unit project in the Clear Lake area of Houston, about 23 miles southeast of downtown. A fund advised by Crow Holdings is an investment partner. Additionally, the project team consists of Meeks + Partners (architect), Quiddity Engineering (civil engineer), United Structural Consultants (structural engineer), MEP Delta Design (mechanical, electrical and plumbing engineer), Ellie Aiello Interiors (interior design), and KFM Engineering & Design (landscape architect). The project will include one- and two-bedroom units as well as amenities such as a 24-hour coworking …
MESA, ARIZ. — Locally based Evergreen Devco has broken ground on The Homestead at Lehi, a $62.5 million, 222-unit community in Mesa. Completion is slated for August 2027. The development team includes MT Builders, BMA Architecture, Atwell (engineering services) and Collaborative V (landscape architect and land planning). The three-story garden-style property will feature one- and two-bedroom units averaging 922 square feet and amenities such as a hot tub, a fitness center, a dog park, coworking space and electric vehicle charging stations.
OAK PARK, ILL. — Draper and Kramer has acquired Eleven33, a 263-unit property in Oak Park, about 10 miles west of downtown Chicago. The firm also will assume management of the property. Eleven33 was 95 percent leased at the time of sale and has averaged 94.4 percent occupancy since January 2024. It includes studio, one-, two- and three-bedroom units, with monthly asking rents currently starting at $1,945. Select floor plans feature a private balcony or terrace or access to a shared terrace. Amenities include a 24-hour fitness center with yoga …
DELRAY BEACH, FLA. — South Florida-based developers 13th Floor Investments and Key International, in partnership with CDS International Holdings and Wexford Capital, have broken ground on Skye, a 327-unit community in Delray Beach. The project is being financed with a $79.2 million construction loan from CIBC Bank USA. Skye represents the second residential phase of the joint venture’s 50-acre Parks at Delray mixed-use development and follows the completion and lease-up of Savio, which delivered 420 apartments earlier this year. With construction now underway, Skye is slated for completion in 2027. …