Monday, November 25, 2024
Read the Digital Magazines Subscribe to the Newsletter

News

15741 Blaine Ave. in Bellflower, California
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $5.6 Million Sale of 32-Unit Property in Bellflower, California

by Channing Hamilton

BELLFLOWER, CALIF. — CBRE has arranged the sale of a 32-unit property located at 15741 Blaine Ave. in Bellflower, located approximately 20 miles south of Los Angeles. The asset traded hands for $5.6 million, or $175,000 per unit. Built in 1955, the property is located on a 0.71-acre lot near the intersection of Blaine Avenue and Alondra Boulevard. The asset comprises 16,128 square feet of rentable space on a 0.71-acre lot. The gated community offers 31 one-bedroom units and a manager’s two-bedroom unit, as well as 32 parking spaces. Dan …

Continue Reading
0 FacebookTwitterLinkedinEmail
Bishop Momo in Austin, Texas
DevelopmentNewsTexas

United Properties Delivers 274-Unit Bishop Momo in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — Minneapolis-based developer United Properties has completed Bishop Momo, a 274-unit property located in the St. Elmo District of Austin. OHT Partners served as the general contractor. Belshaw Mulholland Architects designed the community. Bishop Momo offers studio, one- and two-bedroom apartments. Amenities include a pool, fitness center, multiple lounges, coffee bar, dog run, conference room, package lockers and grilling stations. The property also includes as 6,000 square feet of ground-floor retail space and structured parking.

Continue Reading
0 FacebookTwitterLinkedinEmail
Rock Springs Duplexes in Round Rock, Texas
Build-to-RentInvestment SalesNewsTexas

RangeWater, Harbert Acquire 150-Unit Single-Family Rental Community Near Austin, Texas

by Channing Hamilton

ROUND ROCK, TEXAS — RangeWater Real Estate and equity partner Harbert US Real Estate have acquired Rock Springs Duplexes, a 150-unit single-family rental community located at 1338 Christopher Ave. in Round Rock, approximately 20 miles north of Austin. The seller and sales price were not disclosed.  Rock Springs Duplexes was built in two phases in 1985 and 1996. The unit mix includes 108 three-bedroom and 42 three-bedroom homes, which range from 968 to 1,280 square feet.  Each residence features an attached garage, driveway parking space and a fenced backyard. Units also …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Brokers $5 Million Sale of 13-Unit Property in Hell’s Kitchen

by Channing Hamilton

NEW YORK CITY — Marcus & Millichap has arranged the sale of a 13-unit property located in the Hell’s Kitchen neighborhood of Midtown Manhattan. Built in 1920, the five-story building offers a mix of one-, two- and three-bedroom floor plans. Joe Koicim, Logan Markley and Zan Colin of Marcus & Millichap’s Manhattan office marketed the property on behalf of the seller and procured the buyer. Both parties were local private investors.

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment SalesMassachusettsNewsNortheast

LCOR Acquires 328-Unit The Batch Yard in Suburban Boston

by Channing Hamilton

EVERETT, MASS. — LCOR has acquired The Batch Yard, a 328-unit community in Everett, six miles north of Boston. The community offers a mix of studio, one-, two- and three-bedroom units. Amenities include a pool with sundeck, outdoor media center, library, lounge, fitness center, dining room and garage parking. The acquisition marks the first deal to close under LCOR’s Innovative Living Strategy initiative, which focuses on purchasing and retrofitting properties developed in the past decade.  

Continue Reading
0 FacebookTwitterLinkedinEmail
Lock Lane Apartments in Madison, Wisconsin
DevelopmentMidwestNewsWisconsin

Vermilion to Develop 309-Unit Lock Lane Apartments in Madison, Wisconsin

by Channing Hamilton

MADISON, WIS. — Vermilion Development will develop Lock Lane Apartments, a 309-unit project located on an 8.5-acre site in Madison. McShane Construction Co. will construct the property. Potter Lawson is the project architect. JLL arranged equity capital through Quartz Lake Capital and Clarion Partners. CIBC is providing construction financing.  Lock Lane Apartments will consist of two five-story buildings that house 289 apartments, as well as three two-story townhome buildings with 20 units. The property will also include a two-level parking garage. Planned amenities include green roof areas, fitness centers, clubrooms, …

Continue Reading
0 FacebookTwitterLinkedinEmail
McAlpine Vista in Charlotte, North Carolina
DevelopmentFinanceNewsNorth CarolinaSoutheast

JLL Capital Markets Arranges $43.6 Million Construction Financing for McAlpine Vista in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — JLL Capital Markets has secured a $43.6 million loan to finance the construction of McAlpine Vista, a 320-unit development in Charlotte. Matthew Schoenfeldt of JLL arranged the three-year, non-recourse, floating-rate loan through Hartford Investment Management Co. (HIMCO) on behalf of the borrower, Vista Residential Partners. Situated on 14.8 acres at 8011 Krenfeld Drive, McAlpine Vista will comprise 320 apartments. Units will come in one-, two- and three-bedroom floor plans. Amenities will include a 7,750-square-foot clubhouse with a fitness center, coworking spaces and a club room, as well …

Continue Reading
0 FacebookTwitterLinkedinEmail
Build-to-RentDevelopmentFinanceMidwestNebraskaNews

Cavan Cos. Receives $87.5 Million in Construction Financing for Build-to-Rent Projects in Omaha, Nebraska

by Channing Hamilton

OMAHA, NEB. — Cavan Cos. has secured two construction loans totaling $87.5 million for the development of The Bungalows on Honeysuckle and The Bungalows at Whitehawk Lake, two build-to-rent (BTR) projects in Omaha. ORIX Corp. USA’s Real Estate Capital Group provided the financing. Timelines for completion were not disclosed. Combined, the two projects will feature 466 single-story homes in one-, two- or three-bedroom layouts. Each residence will include open floor plans, 10-foot ceilings, laundry rooms, walk-in closets and fenced back yards with artificial turf. Select homes will also have garages. Both communities will …

Continue Reading
0 FacebookTwitterLinkedinEmail
888 Fourth St. Apartments in Santa Rosa, California
CaliforniaInvestment SalesNewsWestern

Interstate Equities Acquires 108-Unit Property in Santa Rosa, California for $38 Million

by Channing Hamilton

SANTA ROSA, CALIF. — Interstate Equities Corp. has purchased 888 Fourth St. Apartments, a 108-unit asset located in downtown Santa Rosa, from a private individual for $38 million. The community was roughly 50 percent occupied at the time of sale. The Interstate Equities investment team and Philip Saglimbeni of Institutional Property Advisors handled the all-cash transaction.

Continue Reading
0 FacebookTwitterLinkedinEmail
Seaside Apartments in Santa Cruz, California
Affordable HousingCaliforniaInvestment SalesNewsWestern

Marcus & Millichap Brokers $45 Million Sale of Affordable Housing Community in Santa Cruz, California

by Channing Hamilton

SANTA CRUZ, CALIF. — Marcus & Millichap has arranged the sale of Seaside Apartments, an 84-unit affordable housing community in Santa Cruz. The asset traded hands for $45 million. Seaside Apartments was developed in 1983. The property includes five two-story residential buildings, as well as one single-story office and amenities building. Amenities include a children’s playground, barbecue and picnic area, laundry facilities and carports. The unit mix includes 16 one-bedroom residences that are 626 square feet, 52 two-bedroom apartments that are 626 square feet and 16 three-bedroom townhouse units that …

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