Western

Coyote-Creek-San-Jose
Architecture & DesignCaliforniaDevelopmentNewsWestern

KTGY, Hanover Co. Break Ground on Market-Rate Community in Bay Area Mixed-Use Project

by Lynn Peisner

SAN JOSE, CALIF. — Developer Hanover Co. and architect KTGY have begun construction of Hanover Parkside, the first residential building located within Coyote Creek Village, a 22-acre mixed-use development in North San Jose. KTGY designed the three market-rate buildings, comprising 1,140 units, within 9.3 acres of the project. The master plan also includes 154 for-sale townhomes developed by SummerHill Homes and 136 affordable rental apartments that The Pacific Cos. will deliver in future phases. The first building, Hanover Parkside, is slated for completion by the fourth quarter of 2027. The …

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Barkley-Apartment-Homes-Bellingham
Investment SalesNewsWashingtonWestern

IPA Arranges $48 Million Sale in Bellingham, Washington

by Lynn Peisner

BELLINGHAM, WASH. — CEP Multifamily has sold Barkley Apartment Homes to buyer HB Management for $47.9 million. IPA’s Ryan Harmon, Giovanni Napoli, Philip Assouad, Nick Ruggiero and Anthony Palladino arranged the sale. Barkley Apartment Homes is a 202-unit property in the Barkley neighborhood of Bellingham. The asset’s sale price equates to $237,129 per unit. CEP Multifamily is based in Everett, Washington, and HB Management is headquartered in Seattle. Barkley Apartment Homes was built between 2001 and 2003 on approximately 10 acres. The 17-building property has a central leasing office, a …

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The-Gray-Houston
Affordable HousingArkansasColoradoFinanceLouisianaMississippiNew MexicoNewsSoutheastTexasWestern

Federal Home Loan Bank of Dallas Awards $73.5 Million in Affordable Housing Grants

by Lynn Peisner

DALLAS — The Federal Home Loan Bank of Dallas (FHLB Dallas) has awarded $73.5 million in affordable housing grants to 53 projects in Arkansas, Colorado, Louisiana, Mississippi, New Mexico and Texas. FHLB Dallas is part of the Federal Home Loan Bank System, which consists of 11 district Federal Home Loan Banks created in 1932 to provide capital for mortgage funding and support for community investment. FHLB Dallas annually returns at least 10 percent of its profits in the form of affordable housing grants to the communities served by its member …

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The-Meadowlands-Madison
Affordable HousingColoradoGeorgiaMarylandMidwestNew YorkNewsNortheastOhioOperationsSouth CarolinaSoutheastTexasVirginiaWesternWisconsin

WinnResidential Tapped to Manage 28-Property Affordable Housing Portfolio

by Lynn Peisner

INDIANAPOLIS — WinnResidential has been retained by KCG Cos. to operate 28 of the Indianapolis-based developer’s properties. Winn assumed leadership of operations and property management of 4,147 units in July and is expected to be selected to manage future communities over the coming year. KCG-owned workforce and affordable housing communities are located in Colorado, Georgia, Maryland, New York, Ohio, South Carolina, Texas, Virginia and Wisconsin. The company’s portfolio is comprised of approximately 34 communities. WinnResidential is the property management division of Boston-based WinnCompanies.

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Howland-Redwood-City
CaliforniaInvestment SalesNewsWestern

Marcus & Millichap Brokers $24.4 Million Bay Area Sale

by Lynn Peisner

CASTRO VALLEY AND REDWOOD CITY, CALIF. — The Levin Johnston team of Marcus & Millichap has arranged the $24.4 million sale of two California assets. Park Tower Townhomes & Apartments, a 52-unit community in Castro Valley, and 280 Howland St., an 18-unit property in Redwood City, represented the upleg of a 1031 exchange completed by an undisclosed buyer who disposed of three other properties to complete the transaction. The deal was arranged by Robert Johnston, Adam Levin and Jessica Tomasetti.

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Whisper-Creek-Lakewood
ColoradoInvestment SalesNewsWestern

Brixton Capital Buys Whisper Creek in Southwest Denver

by Lynn Peisner

LAKEWOOD, COLO. — Brixton Capital has acquired Whisper Creek in Lakewood, a Denver suburb, eight miles west of downtown. The Denver Business Journal reports that CWS Capital Partners sold the asset for $79.5 million. Built in 2002 by Fairfield Residential, Whisper Creek is a 272-unit community with a resort-style pool, 24-hour fitness center, a clubhouse, business center, grills, a pet park and a playground. Solana Beach, California-based Brixton has engaged Greystar to manage the property. Tony Nargi with JLL Capital Markets secured acquisition financing.

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Solana-Place-at-Carlton-Commons-Casa-Grande
ArizonaBuild-to-RentInvestment SalesNewsWestern

Northmarq Arranges $30 Million Sale in Casa Grande, Arizona

by Lynn Peisner

CASA GRANDE — D.R. Horton has sold Solana at Carlton Commons to CALCAP Advisors for $30 million. Northmarq’s Phoenix multifamily investment sales team arranged the sale of the 113-unit build-to-rent property, while Northmarq’s debt and equity team arranged a $21.8 million Fannie Mae acquisition loan for CALCAP. Completed in 2023, Solana at Carlton Commons is in Casa Grande, a city about 50 miles south of Phoenix and approximately 70 miles north of Tucson. The community features three- and four-bedroom units averaging 1,381 square feet. Each residence includes stainless steel appliances, …

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Willow-Grove-Apartments-Modesto
CaliforniaInvestment SalesNewsWestern

Mogharebi Group Arranges $34.6 Million Sale in Modesto

by Lynn Peisner

MODESTO, CALIF. — The Mogharebi Group has brokered the $34.6 million sale of Willow Grove Apartments in Modesto. The seller was a privately held real estate investment firm based in Northern California that had owned the property since 2017. The buyer was a high net worth private family also based in Northern California. Built in 1990, Willow Grove Apartments comprises 18 two- and three-story buildings offering one- and two-bedroom floor plans ranging from 700 to 900 square feet. Amenities include a resort-style pool and a fitness center.

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Bryant-AYL-Yorba-Linda
CaliforniaFinanceNewsWestern

IEC Secures ReFi for Bryant at Yorba Linda

by Lynn Peisner

YORBA LINDA, CALIF. — Walker & Dunlop has arranged $145.8 million in debt and equity for Interstate Equities Corp. (IEC). The Los Altos, California-based investment firm is refinancing Bryant at Yorba Linda, a 400-unit community in Yorba Linda, located 37 miles east of Los Angeles. IEC acquired the property in 2022. Developed in 1986, Bryant at Yorba Linda features one- and two-bedroom floor plans and amenities such as a clubhouse, a fitness center, a pool and hot tub, a playground, dog park and a sports court.

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Viva-Apartments-Seattle
Investment SalesNewsWashingtonWestern

Transwestern Sells Viva in Seattle

by Lynn Peisner

SEATTLE — Transwestern Investment Group has sold Viva Apartments, a 105-unit community in Seattle’s Capitol Hill neighborhood. JLL arranged the sale, representing the seller as well as the buyer, SI-Viva LLC, an affiliate of Sequel Investment Co. and Evergreen Gavekal. JLL also arranged a $22.9 million acquisition loan. Built in 2014, Viva is a six-story building with studios, one- and two-bedroom units. The property includes 76 parking spaces across two underground levels and 7,450 square feet of ground-floor retail space that is approximately 85 percent occupied. Amenities include indoor bike …

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