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Rylan at Gateway
DevelopmentLeasing & MarketingNewsTexas

Legacy Partners, Resmark Begin Leasing 336-Unit Community in Metro Dallas

by Channing Hamilton

FORNEY, TEXAS — A partnership between two California-based firms, developer Legacy Partners and investment manager Resmark Cos., has begun leasing Rylan at Gateway, a 336-unit community in Forney, about 22 miles east of Dallas.  Rylan at Gateway consists of five three-story buildings on a 14-acre site. Apartments come in studio, one- and two-bedroom floor plans and range in size from 540 to 1,360 square feet. Amenities include a pool, outdoor kitchen and gaming courtyard, fitness center, coworking lounge, coffee bar and two dog parks. Monthly rates start at under $1,000 …

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805 Harmon Heights Apartments & Condos
GeorgiaInvestment SalesNewsSoutheast

Marcus & Millichap Arranges $18.3 Million Sale of Property in Valdosta, Georgia

by Channing Hamilton

VALDOSTA, GA. — Marcus & Millichap has arranged the $18.3 million sale of 805 Harmon Heights Apartments & Condos, a 100-unit asset in the southern Georgia city of Valdosta. John Brigel of Marcus & Millichap’s Tampa office marketed the asset on behalf of the seller, Bobby Diaz, builder and operator of Diaz Construction LLC, and procured the undisclosed buyer from Tennessee. John Leonard is Marcus & Millichap’s broker of record in Georgia. Located at 805 Harmon Drive, the property consists of 113,600 square feet across nine buildings. Units come in …

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Polo Club Apartments
Investment SalesIowaMidwestNews

Greysteel Brokers $38 Million Sale of Property in West Des Moines

by Channing Hamilton

WEST DES MOINES, IOWA — Greysteel has negotiated the $38 million sale of Polo Club Apartments in West Des Moines. Built in 1998, the community consists of 277 two-bedroom units. BJ Connolly, Zach Schneider and Ryan Carter of Greysteel represented the seller, Polo Club LLC/Premier Cos, in the deal. The undisclosed buyer represented itself and plans to conduct a full renovation of the property.

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Baisley Pond Park Residences
Affordable HousingDevelopmentNew YorkNewsNortheast

Partnership Begins Leasing 318-Unit Affordable Housing Redevelopment in Queens

by Channing Hamilton

NEW YORK CITY — A partnership between locally based developer Slate Property Group and RiseBoro Community Partnership has begun leasing Baisley Pond Park Residences, a 318-unit affordable housing redevelopment project in Queens. The property is a conversion of the 350-room JFK Hilton Hotel, which was originally built in 1987. Situated in the Jamaica neighborhood of Queens, the complex offers studio, one- and two-bedroom units. Amenities include a fitness center, computer lounge and multiple common rooms. Monthly rents range from $784 for a studio to $1,493 for a two-bedroom apartment. As …

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Madison Tappan
NewsPeople NewsTexas

Knightvest Capital Appoints Madison Tappan as Chief Investment Officer

by Channing Hamilton

DALLAS — Knightvest Capital, a Dallas-based investment company, has appointed Madison Tappan to the position of chief investment officer. In his new role, he will oversee Knightvest’s acquisition strategy and lead efforts to expand the firm’s multifamily portfolio across various Sun Belt markets. Tappan will also deploy capital from Knightvest’s second investment fund, with a focus on acquiring 2000s-era properties and renovating them. Most recently, Tappan served as a managing director of acquisitions at Knightvest, focusing on investment opportunities in the Dallas-Fort Worth area. He previously served as a vice president …

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Park Sierra
CaliforniaFinanceNewsWestern

G.H. Palmer Associates Receives $168 Million Refinancing for Santa Clarita Asset

by Channing Hamilton

SANTA CLARITA, CALIF. — G.H. Palmer Associates has received a $168 million loan to refinance Park Sierra, a 776-unit apartment building in Santa Clarita, approximately 35 miles northwest of Los Angeles. Walker & Dunlop’s California multifamily finance team, led by Trevor Fase, arranged the financing through Freddie Mac.  Originally developed by G.H. Palmer Associates in 1987, the garden-style community offers a mix of 97 one-bedroom and 679 two-bedroom apartments. About 40 percent of the units have been rehabilitated, with additional capital investment planned. Amenities include five pools and spas, a …

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New YorkNewsNortheastPeople News

Lorimer Capital Hires Connor Lopes as Managing Director

by Channing Hamilton

NEW YORK CITY — Lorimer Capital has hired Connor Lopes to the role of managing director of asset management. In this role, Lopes will oversee the company’s portfolio performance, risk management and loan servicing. He will work to manage Lorimer Capital’s loan portfolio and asset performance.  Prior to joining Lorimer Capital, Lopes served as a senior vice president of construction asset management with Citi Community Capital.  Lorimer Capital is a New York City-based lender. Evan Bell, Ilan Rubinstein and Erez Rubinstein launched the company earlier this year.

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DevelopmentNewsTexas

Trademark to Develop 321-Unit Project in Fort Worth, Texas

by Channing Hamilton

FORT WORTH, TEXAS — Locally based owner-operator Trademark Property Co. will develop Westbend Residences, a 321-unit project in Fort Worth’s University District. Units will come in one-, two- and three-bedroom floor plans. A few penthouse units will also be available on the top floor. The property will feature two pools, a fitness center and dog spa, as well as 4,500 square feet of retail space. Construction is slated to begin in the second quarter of 2025 and complete in late 2026. The project is situated on 3.5 acres within Trademark’s …

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Cosmopolitan on the Canal
IndianaInvestment SalesMidwestNews

PRP Acquires Cosmopolitan on the Canal in Indianapolis

by Channing Hamilton

INDIANAPOLIS — PRP has purchased Cosmopolitan on the Canal, a 218-unit asset located in the Canal Walk District of downtown Indianapolis, for an undisclosed price. The property is situated in proximity to the $4.3 billion Indiana University Health expansion, as well as the Indiana University Indianapolis and Purdue University campuses. Cosmopolitan on the Canal was originally built in 2010. According to Apartments.com, the community features a mix of studio, one- and two-bedroom units. Amenities include fitness center, laundry facilities, a clubhouse, fitness center and lounge. PRP plans to renovate the property. The seller was not disclosed.

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The BW
CaliforniaInvestment SalesNewsWestern

FAMH Group Acquires The BW in Los Angeles for $58.1 Million

by Channing Hamilton

LOS ANGELES — FAMH Group Ltd. has acquired The BW, a 78-unit community located in the Brentwood neighborhood of Los Angeles, from California Landmark Group for $58.1 million. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. The BW was completed in 2013. The community offers a mix of studio, one-, two- and three-bedroom units. Amenities include a rooftop lounge with a jacuzzi, fitness center, business center, electric vehicle charging stations and …

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