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Granby-Oaks-&-The-Vale
FinanceNewsSouth CarolinaSoutheastTennessee

JLL Arranges ReFi Loans for Owner of Properties in South Carolina and Tennessee

by Lynn Peisner

WEST COLUMBIA, S.C., AND NASHVILLE, TENN. — JLL has arranged approximately $33.9 million in Freddie Mac refinancing loans for two properties owned by PAM Associates. JLL Capital Market’s Debt Advisory Team arranged a $19.8 million loan for Granby Oaks in West Columbia and a $14 million loan for The Vale in Nashville. Granby Oaks is a 148-unit, garden-style community that was built in 1973. It features one-, two- and three-bedroom units. Since acquiring the asset in 2022, PAM Associates has invested approximately  $2.1 million in capital improvements, upgrading all of …

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Westmount-Houston
Investment SalesNewsTexas

Westmount Realty Capital Sells San Antonio Community

by Lynn Peisner

SAN ANTONIO — Westmount Realty Capital has sold Westmount at Houston Street, a 200-unit, townhome community located at 4611 E. Houston St. in San Antonio’s East submarket. Westmount acquired the asset in 2019. It was developed in 2003 on 18 acres and features 37 buildings offering a mix of two-, three- and four-bedroom units with garages. The property also includes a resort-style pool, a playground, a dog park, and a clubhouse with a business and fitness center. At the time of sale, Westmount at Houston Street was 91.5 percent occupied. …

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Stateswood
DevelopmentNewsNorth CarolinaSoutheast

EMBREY Closes on Land, Secures Financing For Charlotte Development

by Lynn Peisner

CHARLOTTE, N.C. — EMBREY, a San Antonio-based investment firm, has closed on land and financing for Stateswood, a 300-unit community located at  10630 Twin Lakes Parkway in Charlotte. The 19.8-acre property will be a three-story, garden-style development with such amenities as a clubhouse, coworking lounge, a resort-style pool, a fitness center, a courtyard, a pet park and a 24-hour package room. Pre-leasing will be handled by EMBREY Management Services, and the developer anticipates completion by the first quarter of 2027. The financing for Stateswood was provided by Trustmark Bank.

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North-Bluff
Investment SalesNewsSouth CarolinaSoutheast

JV Acquires Charleston Value-Add Portfolio

by Lynn Peisner

CHARLESTON, S.C. — Ginkgo Residential and J.P. Morgan Real Estate Income Trust (JPMREIT) have acquired a five-property portfolio totaling 647 units across the Charleston metro area. The communities include: Brackenbrook Apartments (168 units), North Bluff Apartments (144 units), The Landing (119 units), Sawbranch Apartments (112 units) and Woodlocke Apartments (104 units). Originally developed between 1975 and 1985, the portfolio has been owned and managed by the same group for many decades, according to Ginkgo, which is a Charlotte, North Carolina-based investment firm that pursues value-add acquisitions across the Southeast. The …

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Richmond-Hill
DevelopmentGeorgiaNewsSoutheast

ECI Breaks Ground on $60 Million Mixed-Use Project Near Savannah

by Lynn Peisner

RICHMOND HILL, GA. — Atlanta-based ECI Group broke ground Aug. 20 on The Averly Richmond Hill, a mixed-use development that includes 291 multifamily units. The project is in Richmond Hill, about 20 miles southwest of Savannah, Georgia. ECI Construction is the general contractor, with construction financing provided by Synovus and CIBC. Ashley Smith and Tyler Mouchet of Colliers Savannah have been selected to market the 3.5 acres of retail pad sites, which are available for ground lease. Behind the commercial acreage, ECI is constructing the multifamily community, which consists of …

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Broadstone-West-End
DevelopmentNewsNorth CarolinaSoutheast

Alliance Residential Opens Broadstone Project in Charlotte

by Lynn Peisner

CHARLOTTE, N.C. — Alliance Residential Co. has opened Broadstone West End, a 332-unit community in Charlotte’s FreeMoreWest neighborhood. The project was designed by a Charlotte-based team including McAdams Co. (civil engineering), Cline Design (architecture) and MAD Studio Interiors (interior design). Broadstone West End offers studios and one- and two-bedroom floor plans. Units feature Samsung stainless steel appliances, wide plank flooring, quartz countertops, electronic entry locks and full-size washers and dryers. Private balconies, built-in entry storage and city views are available in select floor plans. Residents can choose from three interior …

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Redbud Cove Apartments
Investment SalesNewsTexas

Aperture Capital Buys Two Austin Properties

by Lynn Peisner

AUSTIN, TEXAS — Northmarq has arranged a portfolio sale in Austin consisting of two properties with a total of 38 units. The properties are Redbud Cove, a 15-unit build-to-rent (BTR) community in Westlake Hills and Zilker Place Apartments, a 23-unit community in the Zilker neighborhood. Northmarq’s Austin-based team represented the seller, Rastegar and was led by Will Collier, Jordan Vaughn and Hayden Schnieders. The buyer was Aperture Capital, which assumed a Fannie Mae loan with a 3.5 percent interest rate. Redbud Cove was built in 1976 and features 15 BTR …

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Geri-Borger
Company NewsNew YorkNewsNortheastPeople News

NewPoint Announces Personnel Changes

by Lynn Peisner

NEW YORK CITY — NewPoint Real Estate Capital has promoted Geraldine Borger Urgo to president of agency lending. Borger Urgo, who was a leader in NewPoint’s acquisition by Franklin BSP Realty Trust earlier this year, previously spent about 15 years at Freddie Mac and was most recently NewPoint’s head of originations for the past four years. Separately, Nick Gesue will depart his role as chief executive officer, effective Sept. 1. His position was transitioned as part of consolidating leadership following the acquisition. NewPoint leadership will remain under the existing executive …

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Eastfield-Village-Selma
DevelopmentNewsNorth CarolinaSoutheast

NRP Group Buys Land for Community Within North Carolina’s Eastfield Mixed-Use Development

by Lynn Peisner

SELMA, N.C. — AdVenture Development has sold approximately 14.5 acres to The NRP Group, which will develop Eastfield Village on the site. The community will be the multifamily component of AdVenture’s Eastfield mixed-use development in Selma, a city about 33 miles southeast of Raleigh. The 348-unit Eastfield Village will feature amenities including a freestanding clubhouse, a 24-hour fitness center, a pool, grilling stations, a dog park and a pickleball court. Units will be offered as one-, two- and three-bedroom floor plans across 12 three-story garden-style buildings. Completion is slated for …

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Whitman-Villas
Build-to-RentDevelopmentIndianaMidwestNews

EPM Breaks Ground on Whitman Villas

by Lynn Peisner

GREENFIELD, IND. — Locally based developer Equity Property Management (EPM) has broken ground on Whitman Villas, the second residential development in Hancock Gateway Park, a 200-acre, $460 million master-planned, mixed-use development in Greenfield, 25 miles west of Indianapolis. The project is named in honor of poet Walt Whitman and will consist of 108 rental townhomes offered in two- or three-bedroom floor plans. Completion is slated for spring 2026. Whitman Villas amenities will include a pickleball court, a clubhouse, fitness and business centers, a resort-style pool, grilling and gathering areas and …

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