MCLEAN, VA. — Berkadia has arranged the sale Kingston at McLean Crossing, a 319-unit property in McLean that was developed in 2018. JLL Income Property Trust and LCOR were the sellers. Pantzer Properties was the buyer. The deal closed on Jan. 30, at which time the asset was 96 percent occupied. Berkadia’s Brian Crivella, Yalda Ghamarian, Bill Gribbin and Jack Canepa of Berkadia DC Metro represented the sellers. Since the acquisition, Pantzer has rebranded the asset The Point at McLean. Located at 7480 Birdwood Ave., Kingston at McLean Crossing comprises …
Southeast
AUGUSTA, GA. — Affordable housing finance firm Churchill Stateside Group has arranged and closed a $14 million FHA 223(f) loan for Lakeview Terrace, a recently completed, 200-unit community in Augusta restricted to households earning no more than 60 percent of area median income. The FHA 223(f) loan provides long-term, fixed-rate financing for existing multifamily properties, including newly constructed communities transitioning from construction to permanent financing. In addition to the loan, the project also was funded by 4 percent federal and state low-income housing tax credits. Details about the development team …
TAMPA, FLA. — ARK Homes For Rent has completed and opened Parkside, a 75-unit rental townhome community in Tampa. Units are offered as three- and four-bedroom floor plans, and amenities include walking paths and a dog park. Monthly asking rents start at $1,995. ARK Homes For Rent also offers a mobile app that helps residents pay rent, submit maintenance requests and work orders, access HOA information and shop in a tailored marketplace. It also includes access to the ARK Living platform, which provides custom health content and on-demand wellness features.
The recent arrest and extradition of Venezuelan leader Nicolás Maduro has once again put political instability in Latin America back in the headlines. For many people in the U.S., it’s just another international news story. For Latin American investors, it’s a reminder of something they’ve lived with for years: Political and economic conditions can change quickly, and when they do, the impact on currency, regulation and personal wealth can be immediate. That reality has long shaped how and where capital moves. When uncertainty rises, investors tend to look for places …
GREENSBORO, N.C. — Crescent Communities has completed, opened and begun leasing HARMON Jefferson Village, a rental townhome community in Greensboro, less than half a mile from the Jefferson Village shopping center. The Charlotte, North Carolina-based investor, developer and operator’s HARMON brand portfolio is comprised of single-family rental communities in Sun Belt markets. Jefferson Village features three- to four-bedroom units and amenities that include a pool with a pavilion and outdoor kitchen with a grilling station and outdoor dining, an event lawn and trailhead access to Price Park. HARMON properties in …
RALEIGH, N.C. — Tishman Speyer has acquired The Maggie, a 244-unit community adjacent to North Carolina State University in Raleigh. The property sits on 2.8 acres and was developed in 2014. Located at 401 Oberlin Road, The Maggie is in Raleigh’s Village District, a mixed-use destination with pedestrian-friendly streets, a series of parks and about 100 stores and restaurants. The community features a unit mix ranging from studios to three-bedrooms above 9,000 square feet of street-level retail. Amenities include a fitness center, saltwater pool, a business center, a lounge, golf …
ORLANDO, FLA. — Avanath Capital Management has acquired Retreat at Valencia in Orlando from an undisclosed seller for $73.5 million. The Irvine, California-based affordable housing investment firm will reserve one half of the property’s 336 units for families earning up to 60 percent of area median income. The remaining 168 units will be rented at market rates. Avanath also plans to provide financial counseling programs, health and wellness initiatives and resident activities and events. Retreat at Valencia was built in 2001 and is comprised of one-, two-, three- and four-bedroom …
CANTON, GA. — Dallas-based The Milestone Group has acquired Legends at Laurel Canyon, a 266-unit garden-style community in the Atlanta suburb of Canton. Legends at Laurel Canyon offers floor plans averaging 1,227 square feet and features a clubhouse, fitness center, resort-style saltwater pool, Amazon Hub Lockers, a car care center, bike racks and a pet park and spa. The gated community is comprised of one-, two- and three-bedroom units. The sales price and seller were not disclosed. The community was developed in 2020 on approximately 27 acres and is located …
RALEIGH, N.C. — Federal Capital Partners (FCP) has sold The Pointe at Midtown, a 365-unit community at 901 Navaho Drive in the North Hills area of Raleigh. According to the Triangle Business Journal, Kane Realty paid about $72.3 million for a 28-acre site that included The Pointe at Midtown as well as the Grove Towers office buildings. Chevy Chase, Maryland-based FCP was represented by Hunter Barron, Teddy Hobbs, Ryan Gavigan, Ben Bury and Woody Flythe of JLL in the sale. The Pointe at Midtown offers two- and three-bedroom floor plans and …
LOUISVILLE, KY. — Walker & Dunlop has arranged $96.7 million in refinancing for three recently built assets in Louisville owned by Highgates Group. Jonathan Zilber, Joel Chetner and Josh Geller secured three floating-rate, interest-only loans from an institutional lender. Proceeds will be used to repay existing debt, fund closing costs and return capital to investors. The properties are comprised of Belmond Flats (240 units), Cedar Creek Flats (168 units) and Glengrove Apartments (232 units). Highgates is a development firm with offices in Kentucky, New Jersey and the United Kingdom.