MURFREESBORO, TENN. — Cohen Investment Group has acquired The Dylan Apartments, a 152-unit property located in the Nashville suburb of Murfreesboro, from Archway Equities for an undisclosed price. The Dylan Apartments comprises 113,396 square feet of rentable space. The community features amenities such as a clubhouse, barbeque grills, dog park, fitness center, pool and more. Tyler Mayo of Cushman & Wakefield brokered the transaction.
SAN ANTONIO — Partners Real Estate has arranged the sale of Riviera Apartments, a 20-unit asset located in San Antonio’s Oak Park/Northwood neighborhood. Steve Garza and Justin Ventura of Partners represented the buyer, an entity doing business as SP 2118 Edgehill LLC, in the deal. Diego Guevara of Core Commercial represented the undisclosed seller. According to Apartments.com, Riviera Apartments totals 20 apartments in studio, one- and two-bedroom floor plans. The property was built in 1965.
DAWSONVILLE, GA. — KeyBank Real Estate Capital has provided a $42.9 million Fannie Mae loan for the refinancing of Pointe Grande Dawsonville, a 300-unit asset in the Atlanta suburb of Dawsonville. Justin Ownby and Patrick Fitzgerald of KeyBank’s Commercial Mortgage Group originated the financing on behalf of the borrower, Central Florida-based Hillpointe. Pointe Grande Dawsonville was built between 2022 and 2023. The garden-style community comprises 12 three-story buildings on a 23.5-acre site. Amenities include a fitness center, pool with private cabanas, 24-hour conference and business center, Starbucks coffee and tea …
NORTH MYRTLE BEACH, S.C. — The Klotz Group of Cos. and Longleaf Real Estate plan to break ground on The Preserve, a $250 million mixed-use development in North Myrtle Beach, this summer. The plans for the 110-acre project call for 370 apartment units, 207 build-to-rent homes, 227 paired villa lots and 10,000 square feet of commercial space. An expected completion date for the development has not been disclosed. The Preserve will eventually be a part of a planned development district situated between the Intercoastal Waterway and the Carolina Bays Parkway. …
NASHVILLE, TENN. — Woodfield Development has secured a $53.7 million senior loan for the refinancing of Margaux Midtown, a 292-unit community in Nashville. Built in 2023, Margaux Midtown offers amenities such as a fitness center, clubroom with mini duck bowling, yoga room, work pods, complimentary coffee, sky lounge and rooftop terrace, speakeasy, pool, podcast room and more. BWE provided the financing through its proprietary bridge program. Adam Bieber and Alec Jenkins from BWE’s Washington, D.C. office structured the loan.
DALLAS — Excelsa Properties has acquired Pear Ridge, a 168-unit property located at 4753 Old Bent Tree Lane in Dallas. Pear Ridge was built in 1986 and consists of 12 buildings. The gated community offers amenities such as lounges, a pool, business center, fitness center, clubhouse, laundry facilities, storage spaces and transportation services. Excelsa Properties plans to invest $4.3 million to renovate the community. Planned upgrades include the installation of new countertops, stainless steel appliances, tile backsplash, vinyl flooring, lighting and plumbing fixtures and ceiling fans. Exterior renovations will include …
DOVER, N.J. — A joint venture between Crossroads Cos. and CrownPoint Group Inc. has broken ground on a 90-unit development located at 80 East McFarlan St. in downtown Dover, 31 miles west of New York City. Columbia Bank provided construction financing for the project. Circle Squared Alternative Investments provided equity financing. L2i Construction is the general contractor, with Crossroads Companies serving as the project lead. Minno & Wasko Architects and Planners designed the community. Once completed, the six-story building will house a mix of studio, one- and two-bedroom units. Nine units …
MERIDEN, CONN. — KeyBank has provided $51.5 million in financing for a conversion project in Meriden, located about halfway between New Haven and Hartford. The sponsor, Trinity Financial, will use the funds to redevelop the former manufacturing facility of musical instrument maker Aeolian Co. into a mixed-income community. The historic building is located at 85 Tremont St. and was originally constructed in 1887. Once converted, the property will comprise 82 apartments. Units will be subject to a range of income restrictions, with 11 residences to be rented at market rates. …
SEATTLE — Washington Federal Bank, a wholly owned subsidiary of WaFd Inc., has sold approximately $2.8 billion of multifamily commercial real estate loans to Bank of America. Bank of America will sell the loans to funds managed by Pacific Investment Management Co. The packaged loans all came from WaFd’s acquisition of Luther Burbank Savings in March. The sale of the CRE loans was not a condition of the merger. The sale was executed at no loss to WaFd and provides immediate liquidity, according to the seller.
WASHINGTON, D.C. — Affordable Homes & Communities (AHC) and Hoffman & Associates have opened The Westerly, a 449-unit mixed-income community in Washington, D.C. The asset is located approximately three blocks from The Wharf, a mixed-use development co-developed by Hoffman & Associates. The Westerly offers studio, one- and two-bedroom apartments, including 136 units that are evenly split with income restrictions set at 30 and 50 percent of the area median income. The property features 20,000 square feet of amenities such as a rooftop pool deck, courtyard with a fire pit, entertainment …
