Friday, November 29, 2024
Read the Digital Magazines Subscribe to the Newsletter

News

400 Lake Shore in Chicago
DevelopmentIllinoisMidwestNews

Related Midwest Breaks Ground on 635-Unit 400 Lake Shore in Chicago

by Channing Hamilton

CHICAGO — Related Midwest has broken ground on 400 Lake Shore, a two-tower waterfront development located in the Streeterville neighborhood of Chicago’s Near North Side. The first phase of 400 Lake Shore will comprise a 72-story tower featuring 635 units. Of the total unit count, 20 percent (127 units) will be designated as affordable housing. Apartments will come in studio, one-, two- and three-bedroom floor plans. LR Contracting Co., Related Midwest’s in-house contracting company, will construct the first building alongside BOWA Construction. Skidmore, Owings & Merrill designed the project. MAWD …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment SalesNewsNortheastPennsylvania

Hudson Atlantic Brokers $6 Million Sale of Garrett House Apartments Near Philadelphia

by Channing Hamilton

DREXEL HILL, PA. — Matawan, New Jersey-based regional brokerage firm Hudson Atlantic has arranged the sale of Garrett House Apartments in the Philadelphia suburb of Drexel Hill. The property was built in 1960 and comprises 57 units. Apartments come in one-bedroom layouts. The original owner of the asset sold the property for $6 million. Neither party’s identity was disclosed. Adam Zweibel led the Hudson Atlantic team that brokered the deal.

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentLeasing & MarketingNewsTexas

Wood Partners, ParkProperty Capital Open 261-Unit The Albright in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — A partnership consisting of Wood Partners and ParkProperty Capital has opened The Albright, a 261-unit community in Austin’s Burnet neighborhood. Construction on the project completed in May. The Albright now offers one-, two- and three-bedroom floor plans. Units feature smart technology, stainless steel appliances, granite countertops, walk-in closets and full-size washers and dryers. Amenities include: a clubroom; gaming area with a dining table, shuffleboard and pool table; fitness center; entertainment area; pet park; pool; co-working space; and a rooftop Skydeck.

Continue Reading
0 FacebookTwitterLinkedinEmail
Two Fourplexes on 22nd St. in Huntington Beach, California
CaliforniaInvestment SalesNewsWestern

CBRE Brokers Sale of Two Fourplexes in Huntington Beach, California, for $5.4 Million

by Channing Hamilton

HUNTINGTON BEACH, CALIF. — CBRE has arranged the sale of two properties in Huntington Beach: a fourplex at 321 22nd St. and the adjacent fourplex at 317 22nd St. Both assets sold for $2.7 million, resulting in a combined sales price of $5.4 million. Dan Blackwell and Mike O’Neill of CBRE represented both the buyer and seller in the two deals. The buyer was a private investor based in Westminster, California. The seller was based in Huntington Beach.  Built in 1972, each of the two buildings spans 4,101 square feet. …

Continue Reading
0 FacebookTwitterLinkedinEmail
Bisby in Newport, New Jersey
Leasing & MarketingNew JerseyNewsNortheast

The LeFrak Organization Begins Leasing 34-Story Bisby in Newport, New Jersey

by Channing Hamilton

NEWPORT, N.J. — The LeFrak Organization has begun leasing Bisby, a 34-story high-rise community situated in Newport, which is situated across the Hudson River from Lower Manhattan. The property offers 385 units in studio, one-, two-, three- and four-bedroom floor plans. Monthly rates begin at $3,445 for a studio apartment. Amenities include a 33,000-square-foot rooftop terrace with a pickleball court, dog run and an outdoor kitchen, as well as a co-working center, golf simulator, content studio and dog spa. The project was designed by Minno & Wasko Architects & Planners. …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment SalesLouisianaNewsSoutheast

Marcus & Millichap Brokers $11.6 Million Sale of 248-Unit Portfolio in Baton Rouge, Louisiana

by Channing Hamilton

BATON ROUGE, LA. — Marcus & Millichap has brokered the $11.6 million sale of a portfolio in Baton Rouge. Granite Pelican Bay LLC purchased the assets from an entity doing business as 2121 Lobdell LLC. John Hamilton, Chris Shaheen, Will Balthrope and Drew Garza of Marcus & Millichap represented the seller and procured the buyer. The portfolio comprises 248 units across three properties, including: Howell Place, which is located at 4150 72nd Ave.; Pelican Bay at 2121 Lobdell Blvd.; and Pirates Bend at 8165 Plank Road. The communities were built …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentFinanceIllinoisMidwestNews

Concord Summit Capital Arranges $10 Million in Construction Financing for Property in Chicago

by Channing Hamilton

CHICAGO — Concord Summit Capital LLC has arranged $10 million in mezzanine financing for the construction of a community in Chicago. Once completed, the property will offer amenities such as a fitness center, lounge, game room, private event space, outdoor pool and ground-floor co-working spaces. Daniel Eidson, David Larson and Keegan Burger of Concord Summit arranged the financing, which included a senior loan with a C-PACE component. The lender and borrower were not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNewsTexas

Greystone Negotiates $22.9 Million in Financing for The Barcelona on Chisolm Trail in Fort Worth, Texas

by Channing Hamilton

FORT WORTH, TEXAS — Greystone has arranged $22.9 million in financing for The Barcelona on Chisolm Trail, a 248-unit property in Fort Worth. The Barcelona on Chisolm Trail will comprise 17 buildings on a 10-acre site. Amenities include a pool, playground, dog park, outdoor lounge areas, business center, fitness center and a clubhouse. The borrower was MBP Capital Partners. Lance Wright, Thomas Wayda and Dante Distefano of Greystone arranged a $19.5 million bridge loan through an undisclosed debt fund. Matthew Zisler of Greystone also brokered a $3.4 million preferred equity …

Continue Reading
0 FacebookTwitterLinkedinEmail
Old Cutler Village in Miami-Dade County, Florida
Affordable HousingDevelopmentFloridaNewsSoutheast

Pinnacle Secures $49.9 Million Construction Financing for Affordable Housing Development in Miami-Dade County, Florida

by Channing Hamilton

MIAMI-DADE COUNTY, FLA. — Pinnacle has secured $49.9 million in construction financing for phase II of Old Cutler Village, a 120-unit affordable housing project located at 10455 Old Cutler Road in unincorporated southern Miami-Dade County. Once completed, the building will rise five stories and offer one-, two- and three-bedroom layouts. Units will be available to households earning 30, 60 and 70 percent of the area median income. Construction is expected to be completed in October 2025. 

Continue Reading
0 FacebookTwitterLinkedinEmail
ColoradoDevelopmentFinanceNewsWestern

BWE Arranges $39.4 Million Construction Financing for 199-Unit Project in Pueblo, Colorado

by Channing Hamilton

PUEBLO, COLO. — BWE has negotiated a $39.4 million HUD 221(d)(4) loan to facilitate the construction of Pueblo Springs, a 199-unit community in Pueblo. James Swanson of BWE’s Phoenix office originated the non-recourse, fully assumable loan, which features a 40 year, fully amortizing term. Pueblo Springs will offer amenities such as a clubhouse, fitness center, business center, community room, bike storage, pool, BBQ and picnic areas, walking paths, 24-hour emergency staff, and gated entry. The borrower and developer was Arizona-based ESH Development LLC. Colorado Structures Inc. is the general contractor …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2024 France Publications, dba France Media Inc.