NEW YORK CITY — New Empire Corp. has broken ground on a 12-story apartment building at 58-01 Queens Blvd. in the New York City borough of Queens. The building was designed by Tang Studio Architect and Whitehall Interiors. The property will offer amenities such as a children’s playroom, lounge, outdoor terrace and a fitness center. A construction timeline for the project was not disclosed.
COLUMBUS, OHIO — The NRP Group has opened The Sinclair Apartment Homes, a $40 million affordable housing community in Columbus. The Columbus Metropolitan Housing Authority helped fund the project’s development by issuing $27.7 million in tax-exempt and taxable bonds. Tax-credit funding support from the Ohio Housing Finance Agency and Huntington National Bank also helped fund the transit-oriented project. The Sinclair Apartment Homes is affordable to households earning between 30 and 80 percent of the area median income. The community consists of three four-story buildings with one, two-, three- and four-bedroom …
LAKEWOOD, COLO. — Pinnacle Real Estate Advisors has arranged the purchase of a building located at 8447-8449 W. Dakota Ave. in Lakewood. The eight-unit property traded hands for $2.1 million in an all-cash transaction. Josh Newell, Connor Knutson and Jake Waxter of Pinnacle Real Estate Advisors represented the undisclosed buyer in the deal. The name of the seller was also not released.
LANSING, MICH. — Eastham Capital and Bender Cos. have acquired Briarcliffe Apartments and Townhomes, a 308-unit community located in Lansing. Eastham Capital invested in the deal through its current fund, Eastham Capital Fund VI. Bender Cos. has co-invested and will oversee the day-to-day management. Briarcliffe was built in 1976. The property was 94.8 percent occupied at the time of sale. Amenities include an indoor/outdoor pool, fitness center, sauna, garden, playground, dog park, business center and bike share program. The community also borders the South Lansing Pathway, a paved hiking trail …
PHOENIX — Greenlight Communities has sold Cabana Happy Valley, a 292-unit community in Phoenix, to Ideal Capital Group for $79.2 million. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer. Cabana Happy Valley was built in 2023 on nine acres. Amenities include a two-story leasing office and clubhouse, fitness center, lounge, coworking space, pool, EV charging stations, bike storage, mail room and covered parking.
FEDERAL WAY, WASH. — Institutional Property Advisors (IPA) has arranged the sale and financing of Trellis, a 111-unit property in Federal Way. An investment fund sponsored by Prime Residential acquired the asset from CEP Multifamily for $32.4 million. Trellis was built in 1985 on 8.6 acres. The community offers 33 one- and two-story duplexes and fourplexes. Units come in two- and three-bedroom floor plans with an average size of 1,000 square feet. IPA’s Ryan Harmon, Giovanni Napoli, Philip Assouad, and Nicholas Ruggiero represented the seller and procured the buyer. Brian Eisendrath, …
ENGLEWOOD, FLA. — Kaplan Residential has acquired a 20-acre site in Engelwood to construct Generation Englewood, a 306-unit community in Southwest Florida. The developer purchased the site from a private investor for $5.2 million. Hunter McCarthy of SVN Commercial Partners brokered the land transaction. The property will include a 10,000-square-foot clubhouse with a dog park, outdoor TVs, lounge seating areas and a bar. Architecture Alliance, the project’s landscape architect, is designing walking trails, seating areas, benches and outdoor grilling stations at the community. Kaplan plans to break ground on Generation Englewood …
DORAVILLE, GA. — Rangewater Real Estate will break ground on Camino, a 304-unit community in Doraville, 15 miles northeast of Atlanta. The development will feature micro, studio, one-, two- and three-bedroom apartments ranging from 474 to 1,411 square feet in size. Amenities will include a dog park and spa, pool courtyard, coworking offices with a dedicated podcast recording space, an outdoor grilling station, fitness center, rooftop lounge and a private speakeasy. The project is scheduled for completion in spring 2025.
PHILADELPHIA — SCOPE Capital Group has arranged $16 million in bridge-to-HUD financing for The Washington Apartments, a 72-unit complex in Philadelphia’s Kensington neighborhood. An undisclosed regional bank provided the three-year, interest-only loan to the borrower and developer, Philadelphia-based Trinity Realty Cos. Units come in one- and two-bedroom layouts with an average size of 881 square feet. Amenities will include a fitness center, business center and a rooftop deck, as well as ground-floor commercial space.
BRIDGEWATER, MASS. — Capstone Communities and MPZ Development have opened The McElwain School Apartments, a 57-unit mixed-income community in Bridgewater, 27 miles south of Boston. Of the total unit count, 51 are affordable to households earning at or below 60 percent of the annual median income. Amenities include on-site management and maintenance, a dog park, playground, community room and a wildflower bee meadow. The $28.9 million project is the redevelopment of a historic former school building, which sat vacant for over 20 years. The development was funded through a mix of state, local, and …