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Landing at Lemay in Fort Collins, Colorado
ColoradoDevelopmentNewsWestern

Thompson Thrift Plans 344-Unit Landing at Lemay in Fort Collins, Colorado

by Channing Hamilton

FORT COLLINS, COLO. — Thompson Thrift has released plans for The Landing at Lemay in Fort Collins. The Landing at Lemay will comprise 344 units on a 17-acre site. The community will offer carriage homes with apartments built over attached private garages and electric vehicle charging capabilities. Units will come in one-, two- and three-bedroom floor plans. Amenities will include a fitness center, pool, fire pits, a billiards and shuffleboard area, dog park, pet spa, community-wide Wi-Fi and outdoor entertainment kitchen. Construction is slated to begin in July and move-ins …

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Oxenfree at WeHo in Nashville, Tennessee
Build-to-RentFeaturesMidwestNortheastSoutheastTexasWestern

Strong Tenant, Investor Demand Ensures Build-to-Rent Model Is Here to Stay

by Channing Hamilton

Empty nesters and millennials with children are increasingly drawn to new subdivisions of build-to-rent (BTR) houses for lifestyle and financial reasons. These professionally managed BTR homes come in many shapes and sizes.  For a growing family, a new three- or four-bedroom rental house might be the ideal fit. Renters who don’t need a lot of space, but who value private parking and a modest backyard, can move into a one- or two-bedroom cottage-style home.  These properties provide more living space and privacy than a typical apartment and at a more …

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Eastglen Apartments in Longmont, Colorado
ColoradoInvestment SalesNewsWestern

Capstone Apartment Partners Sells Eastglen Apartments in Longmont, Colorado

by Channing Hamilton

LONGMONT, COLO. — Capstone Apartment Partners has negotiated the sale of Eastglen Apartments, a 109,210-square-foot community in the northern Denver suburb of Longmont. Eastglen Apartments comprises 102 apartments, with 20 percent designated as Low-Income Housing Tax Credit units. Sean Holamon, Adam Riddle and Jason Koch of Capstone Apartment Partners brokered the transaction. Two Arrows Group acquired the asset for an undisclosed price. The seller was not disclosed.

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BerkadiaCaliforniaInvestment SalesNewsWestern

Berkadia Arranges $24.1 Million Sale of Prosper 89 in Las Vegas

by Channing Hamilton

LAS VEGAS — Berkadia has arranged the sale of Prosper 89, an 89-unit property in Las Vegas. Nevada-based Turtle Bay 89 sold the asset to California-based Benedict Canyon Equities for $24.1 million. Jared Glover of Berkadia Las Vegas facilitated the deal on behalf of the seller. Prosper 89 is located at 10750 El Camino Road. Units come in one- and two-bedroom floor plans and feature private garages. Amenities include a pool, clubhouse, business center, fitness center and open grass areas.

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Parkway Townhomes in Henderson, Nevada
Investment SalesNevadaNewsWestern

TruAmerica Multifamily Acquires 234-Unit Parkway Townhomes Near Las Vegas

by Channing Hamilton

HENDERSON, NEV. — TruAmerica Multifamily has acquired Parkway Townhomes, a 234-unit townhome-style community located at 2675 Windmill Parkway in the Las Vegas suburb of Henderson. CBRE’s Spence Ballif, Adam Schmitt and Jannie Mongkolsakulkit represented the seller in the deal. The seller and transaction price were not disclosed.  Parkway Townhomes was built in 1995. The community offers two- and three-bedroom units featuring full-size washers and dryers, stainless steel gas appliances, direct-access garages. Amenities include a pool, fitness center and dog park. The previous owners of the property conducted more than $3 …

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FinanceInvestment SalesNewsWashingtonWestern

Washington Federal Bank Completes Sale of $2.8 Billion in Multifamily Loans

by Channing Hamilton

SEATTLE — Washington Federal Bank, a wholly owned subsidiary of WaFd Inc., has sold approximately $2.8 billion of multifamily commercial real estate loans to Bank of America. Bank of America will sell the loans to funds managed by Pacific Investment Management Co. The packaged loans all came from WaFd’s acquisition of Luther Burbank Savings in March. The sale of the CRE loans was not a condition of the merger. The sale was executed at no loss to WaFd and provides immediate liquidity, according to the seller.

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ArizonaBuild-to-RentDevelopmentNewsWestern

Trilogy Investment Co., Cimbra Partners Break Ground on 84-Unit Build-to-Rent Project in Avondale, Arizona

by Channing Hamilton

AVONDALE, ARIZ. — Trilogy Investment Co. and Cimbra Partners LLC have commenced site development at Rêve at Encanto West, a build-to-rent project comprising 84 townhomes in the Phoenix suburb of Avondale. Residences will come in three-bedroom layouts and feature two and half bathrooms, flexible space for a bedroom or office, stainless steel appliances, granite countertops and garages. Amenities will include a clubhouse with grilling stations and a pool.

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CaliforniaInvestment SalesNewsWestern

Cityview Acquires 130-Unit Tralee Village Apartments in Dublin, California

by Channing Hamilton

DUBLIN, CALIF. — Cityview, an investment management and development firm based in Los Angeles, has acquired Tralee Village Apartments in the Oakland, California suburb of Dublin. Jason Parr of Berkadia brokered the deal. The seller was not disclosed. Tralee Village Apartments was originally built in 2011. Located at 6599 Dublin Boulevard, the three-story community features 130 units spread across two buildings. Apartments come in one-, two- and three-bedroom floor plans. The property also includes more than 30,000 square feet of curated ground-floor retail. Amenities include a pool and spa, fitness …

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Ray Phoenix in Phoenix
ArizonaDevelopmentFinanceNewsWestern

JLL Capital Markets Arranges $120 Million Construction Financing for Ray Phoenix in Phoenix

by Channing Hamilton

PHOENIX — JLL Capital Markets has arranged $120 million in construction financing for Ray Phoenix, a 26-story building in downtown Phoenix. JLL worked on behalf of the borrowers, Ray and VeLa Development Partners, to secure the loan through an affiliate of RXR Realty Investments LLC. Michael Gigliotti, Brad Miner, Elle Miraglia and Frank Choumas led the JLL Capital Markets Debt Advisory team. Ray Phoenix will offer 401 units in studio, one- and two-bedroom floor plans. The community will also feature 20,000 square feet of amenity space, including a fitness center, yoga …

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Kanvas in Los Angeles
CaliforniaFinanceNewsWestern

Priority Group Brokers $21.6 Million Recapitalization for Kanvas in Los Angeles

by Channing Hamilton

LOS ANGELES — Priority Capital Advisory (PCA) has arranged $21.6 million in financing for the recapitalization of Kanvas, a 67-unit community in Los Angeles’ Koreatown submarket. Zachary Streit of PCA arranged the financing through BOLOUR. EGC Real Estate Group was the borrower.  The unit mix includes 13 studios, 33 one-bedroom and 21 two-bedroom apartments. Seven units are set aside as affordable. Amenities include a rooftop amenity deck, fitness center, courtyard, storage space, bicycle parking and underground and surface vehicle parking. The property also includes 1,105 square feet of ground-floor retail space.

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