NEW YORK CITY — Affinius Capital LLC has provided a $52 million acquisition loan to Four Winds Real Estate for The Knox, a 110-unit asset situated in the Murray Hill neighborhood of New York City. Units come in studio, one- and two-bedroom floor plans. The property also features 2,700 square feet of ground floor retail space. Community amenities include a rooftop deck, fitness center, live/work lounge and a 24-hour attended lobby.
PARAMUS, N.J. — HKS Real Estate Advisors has arranged a $46.5 million CMBS loan for the refinancing of a 140-unit property in the New York City suburb of Paramus. John Harrington of HKS Real Estate arranged the financing through Citigroup on behalf of the borrower, whose identity was not disclosed. The community consists of three buildings on a 35-acre site. According to Apartments.com, the asset is called Soldier Hill Commons and features two-bedroom units. The property was recently completed in 2023.
FORT WORTH, TEXAS — JLL Capital Markets has negotiated acquisition financing for Monticello Apartments, a 116-unit asset in Fort Worth. JLL worked on behalf of the borrower, Price Realty, to secure the five-year, fixed-rate financing through Freddie Mac. The loan will be serviced by Jones Lang LaSalle Multifamily LLC. John Brownlee, Bo Beidleman, Blake Morrison and Aaron Craig led the JLL Capital Markets Debt Advisory team. Located at 154 North Bailey Ave., Monticello Apartments consists of 22 two-story buildings. The unit mix includes 56 one-bedroom and 60 two-bedroom apartments. Units …
NEW YORK CITY — Witkoff and Apollo Commercial Real Estate Finance Inc., a publicly traded mortgage REIT managed by an affiliate of Apollo Global Management, have topped out The Brook in downtown Brooklyn. The Brook will be the sixth tallest building in Brooklyn upon completion, according to the development team. The 52-story building will house 591 apartments, as well as 30,000 square feet of amenities and 21,000 square feet of retail space. Thirty percent of units will be set aside as affordable housing. Income restrictions for these units were not disclosed. …
ARLINGTON, TEXAS — Major League Baseball team the Texas Rangers and The Cordish Cos. have topped out One Rangers Way, a 300-unit project in the western Dallas suburb of Arlington. One Rangers Way is the multifamily component of Cordish’s Arlington Entertainment District. The devleopment site is situated less than a mile from Globe Life Field, the home ballpark of the Rangers. The community will offer studio, one- and two-bedroom units. Each of the community’s 52 floor plans are named after Rangers players or significant events, including the team’s 2023 World …
BURNSVILLE, MINN. — JLL Capital Markets has negotiated the sale of Shalimar Estates, a townhome community comprising 48 units in Burnsville, 15 miles south of Minneapolis. JLL represented the seller, Gaughan Cos., in the deal. The buyer was not disclosed. Josh Talberg and Bill Mork led the JLL Capital Markets Investment Sales Advisory team. Shalimar Estates is part of Gaughan’s 800-unit Minnesota Legacy Apartment Portfolio, which JLL has been marketing for sale. The community is situated on 5.6 acres at 13340 Parkwood Dr. Townhomes come in three-bedroom layouts and feature washers …
NEWPORT BEACH, CALIF. — CBRE has arranged the sale of Beachwood Apartments, an 18-unit community in Huntington Beach. The asset traded hands for $8.7 million. Dan Blackwell and Mike O’Neill of CBRE represented both the buyer and seller in the deal. The seller was a repeat client based in Huntington Beach, California. The buyer was an undisclosed private investor headquartered in Fountain Valley, California. Beachwood Apartments was built in 1971 at 125 16th Street. The community totals 0.4 acres across six lots. Units come in one-, two- and three-bedroom floor …
WALNUT CREEK, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Rise Walnut Creek, a 97-unit community in Walnut Creek, about 16 miles east of Oakland, California. Hines purchased the asset from Rescore for an undisclosed price. Alex Tartaglia, Stanford Jones, Philip Saglimbeni and Salvatore Saglimbeni of IPA represented the seller and procured the buyer in the deal. The Rise Walnut Creek was completed in 2023. Units come in studio, one-, two- and three-bedroom layouts. Apartments feature washers and dryers, wide plank flooring …
ORLANDO, FLA. — Wood Partners has broken ground on V by Alta, a 219-unit development located at 10149 Arise Loop in Orlando. The community will offer a mix of studio, one-, two- and three-bedroom units. Planned amenities include a lobby lounge, clubroom, business lounge, fitness center, game room, pool, pet park with pet wash station, grilling stations, bike racks and EV charging stations. The fifth floor will also feature a Fireworks Lounge, where tenants can watch nightly fireworks from the nearby theme parks.
HOLLAND, MICH. — Magnus Capital Partners has begun development on HōM Flats at 24 East, a $60 million workforce housing project in Holland, 28.7 miles west of Grand Rapids, Michigan. Once completed, the complex will comprise 202 apartments across eight acres. HōM Flats at 24 East will offer one-, two- and three-bedroom units with full-size washers and dryers and secured key fob access. The property will also feature 13,000 square feet of retail space, including an on-site childcare center and suites for locally owned businesses. Planned amenities include pickleball courts, a …
