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Greens at Centennial
Investment SalesNewsNorth CarolinaSoutheast

JLL Capital Markets Arranges Sale of 292-Unit Asset in Raleigh, North Carolina

by Channing Hamilton

RALEIGH, N.C. — JLL Capital Markets has arranged the sale of and acquisition financing for the Greens at Centennial, a 292-unit community located at 320 The Greens Circle in Raleigh. Built in 2014, Greens at Centennial offers a mix of studio, one- and two-bedroom units. The average unit size is 941 square feet. Amenities include a pool, fitness center, fenced dog park and landscaped courtyards with grilling areas. JLL Capital Markets co-brokered the transaction in conjunction with Capital Associates, who represented the seller, an affiliate of Capital Associates. JLL also …

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Stonington Village
ConnecticutDevelopmentFinanceNewsNortheast

READCO Secures $41.5 Million Construction Financing for Mixed-Use Project in Stonington, Connecticut

by Channing Hamilton

STONINGTON, CONN. — READCO has received $41.5 million in construction financing for Stonington Village, a 160-unit mixed-use development in Stonington, a town situated along the Long Island Sound in Connecticut’s New London County. Henry Schaffer and Madeline Joyce of JLL Capital Markets arranged the five-year, fixed-rate loan through Liberty Bank. Located at 85 Voluntown Rd., Stonington Village will feature six buildings. Units will come in studio, one-, two- and three-bedroom floor plans. Planned amenities include a clubhouse, pool and parking facilities. The project includes an affordable housing component. However, income …

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Soto
CaliforniaDevelopmentNewsWestern

Partnership Breaks Ground on 200-Unit Community in Torrance, California

by Channing Hamilton

TORRANCE, CALIF. — A partnership between Legacy Partners and DWS Group has begun the construction of Soto, a 200-unit project in Torrance, roughly 30 miles west of Anaheim, California. The project team includes Westport Construction as the general contractor and Architects Orange as the designer.  Located at 3862 Carson St., Soto will offer studio, one- and two-bedroom floor plans. Units will range from 633 square feet to 1,118 square feet. Planned amenities include a rooftop pool and amenity deck with an indoor-outdoor fitness center, resident clubhouse, coworking area and two courtyards …

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3200 Business Center Drive
NewsTexas

Pelican Builders Breaks Ground on 380-Unit Project in Metro Houston

by Channing Hamilton

PEARLAND, TEXAS — Houston-based developer Pelican Builders has broken ground on a 380-unit project located within Pearland Town Center in Pearland, about 20 miles southeast of Houston. Units will come in one- and two-bedroom floor plans and will range in size from 604 to 1,196 square feet. Amenities will include a pool, dog park, children’s play area, fitness center, business center and access to walking trails. Pelican Builders purchased the site at 3200 Business Center Drive from Tennessee-based REIT CBL Properties, the master developer of Pearland Town Center, about two …

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Allen Ridge
FinanceInvestment SalesNewsNorth CarolinaSoutheast

Joint Venture Secures $25.4 Million Financing for North Carolina Build-to-Rent Asset

by Channing Hamilton

GREENVILLE, N.C. — A joint venture partnership between Eminent Capital and Corten Real Estate has received a $15.7 million loan and $9.7 million of joint venture equity for Allen Ridge, a 125-unit build-to-rent (BTR) community in Greenville.  Located at 1005 Allen Ridge Dr., the community features townhome-style duplex units. Allen Ridge was built in two phases, with phase I completed in 2008 and Phase II in 2023. The asset was 98.4 occupied at the time of the transaction. JLL Capital Markets helped create the joint venture partnership. JLL also worked …

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An unnamed development in Hutto, Texas
DevelopmentNewsTexas

Partnership Breaks Ground on 336-Unit Project in Metro Austin

by Channing Hamilton

HUTTO, TEXAS — A partnership between Wood Partners and ParkProperty Capital (PPC) has broken ground on a 336-unit development in Hutto, approximately 30 miles north of Austin. Located off of Ed Schmidt Boulevard, the community will comprise 10 three-story buildings.  Amenities will include a fitness center, a business lounge, private offices, a clubroom with a coffee station, pool and fenced dog park. Additionally, in collaboration with city officials, the development will feature two pickleball courts, parkland with a walking trail and an 18-hole disc golf course that will also be …

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Skye
Investment SalesNewsWashingtonWestern

Institutional Property Advisors Brokers Sale of 18-Story Asset in Seattle

by Channing Hamilton

SEATTLE — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Skye, a 371-unit apartment building with 13,300 square feet of ground-floor retail space in Seattle’s Denny Triangle neighborhood. The 18-story community was originally built in 1949, and all units were renovated between 2014 and 2016. Tenants have access to a controlled-access parking garage, rooftop terrace, fenced dog park, walking trails and green lawns. Apartments come in studio, one-, and two-bedroom floor plans. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino …

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Company NewsIllinoisMidwestNewsOperations

The Apartment Source Merges Property Management Division With Westward360

by Channing Hamilton

CHICAGO — The Apartment Source (TAS), a real estate firm specializing in multifamily leasing, has merged its property management division with Westward360, a property manager for rental asset owners and community associations. The merger brings together two companies in the Chicago real estate market. According to a release, Westward360’s reputation in property management will help TAS expand into new Chicago and suburban markets, while Westward360 will broaden its portfolio.

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DevelopmentFloridaNewsSoutheast

Thompson Thrift Nears Completion of 324-Unit Project in Pensacola, Florida

by Channing Hamilton

PENSACOLA, FLA. — Indianapolis-based developer Thompson Thrift is nearing completion of The Quinn, a 324-unit project located at 5800 W. Nine Mile Road in Pensacola, about 50 miles west of Destin, Florida. The first move-ins began last fall, and Thompson Thrift expects to complete construction by the end of the summer. Situated on 18 acres, The Quinn features a mix of one-, two- and three-bedroom apartments. The average unit size is 1,000 square feet. Shared amenities include a clubhouse, fitness center, pool, community grilling areas, fire pits, cabanas, turf area …

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54-19 100th St.
Affordable HousingNew YorkNewsNortheast

Slate, Queens Future to Develop 450-Unit Affordable Housing Project

by Channing Hamilton

NEW YORK CITY — Locally based developer Slate Property Group (Slate) and Queens Future LLC, which is a joint venture between Mets owner Steve Cohen and Hard Rock International, have formed a partnership to develop a 450-unit affordable housing project located in the Corona neighborhood of Queens. The site is located at 54-19 100th St., currently houses a parking lot adjacent to an existing affordable housing complex. Units will feature a range of floor plans and income restrictions, and the property will have community and amenity space, including an improved …

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