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Metro-Parc-Hialeah
DevelopmentFinanceFloridaNewsSoutheast

Baron Property Group Lands $226.5M Refinancing for Miami Project

by Lynn Peisner

HIALEAH, FLA. — Baron Property Group (BPG) has closed on a $226.5 million refinancing for Metro Parc, a 559-unit development in Hialeah that is now 50 percent leased. The financing replaces the project’s construction loan and serves as a bridge to permanent financing. The lenders were Madison Realty Capital and Yellowstone Real Estate. HKS Real Estate Advisors and DIA Capital Group advised BPG. Ben Suky of Bensco arranged the financing. Designed by Modis Architects, Metro Parc is the first phase of BPG’s 2.3-million-square-foot mixed-use development in Hialeah. The property is …

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Verona-Fairburn
DevelopmentGeorgiaNewsSoutheast

Vida Cos. Developing Verona in Metro Atlanta

by Lynn Peisner

FAIRBURN, GA. — Vida Cos., an Atlanta-based multifamily, mixed-use and build-to-rent developer, has broken ground on Verona, a 280-unit community in Fairburn, approximately 20 miles southwest of Atlanta. Verona will consist of four-story garden-style buildings containing one-, two- and three-bedroom units, all with balconies. Amenities include a courtyard with a saltwater pool and grilling stations, a fitness center, clubhouse, coworking lounge, indoor mail kiosks, a dog park and private and public green spaces. The project also includes a 1,500-square-foot retail space for a coffee shop that will be open to …

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Wyndchase-Aspen-Grove-Franklin
Investment SalesNewsSoutheastTennessee

Waterton Buys Metro Nashville Asset for $128M

by Lynn Peisner

FRANKLIN, TENN. — Waterton, a Chicago-based real estate investor and operator, has acquired Wyndchase Aspen Grove in Franklin. The Nashville Business Journal reports the sales prices was approximately $128 million and the seller was an affiliate of Boston-based Berkshire Residential Investments. The 560-unit garden-style property was built in 1997 and offers one-, two- and three-bedroom units complemented by a game room, fitness center, dog park, two resort-style pools, an outdoor fireplace and an outdoor kitchen and grilling stations. Waterton is planning to update residences with the addition of quartz countertops, …

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Bend-on-Bluebonnet-Baton-Rouge
FinanceLouisianaNewsSoutheast

JLL Arranges $42.8M Refinancing for Bend on Bluebonnet in Baton Rouge

by Lynn Peisner

BATON ROUGE, LA. — JLL Capital Markets has arranged a $42.8 million loan to refinance Bend on Bluebonnet, a 301-unit luxury community at 10231 Bluebonnet Blvd. in Baton Rouge. TWG Development and Mandrake Capital Partners are the owners/borrowers. The lender was Balbec Capital. Bend on Bluebonnet was completed in 2023 on a 13-acre site and is comprised of one-, two- and three-bedroom units as well as a pool, 24-hour fitness center, coworking lounge, coffee bar, pet park with washing stations, grills and a firepit. Michael Zaremski and Clayton Ross headed …

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Colina-Hillside-Birmingham
AlabamaDevelopmentNewsSoutheast

Dobbins Group, Capstone Building Corp. Complete Development of Colina Hillside in Birmingham, Alabama

by Lynn Peisner

BIRMINGHAM, ALA. — Dobbins Group along with general contractor Capstone Building Corp., both locally based, have completed construction of Colina Hillside in Birmingham. The 475-unit property was designed by Williams Blackstock Architects and features two saltwater pools with cabanas and outdoor entertainment areas, pet spa and parks, a clubhouse, coworking areas, a firepit, electric vehicle charging stations, a market, garages, storage spaces and a walking path. Floor plans include one-, two- and three-bedrooms set within four- and five-story buildings.

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Grove-at-Cheney
AlabamaInvestment SalesNewsSoutheastStudent HousingWashingtonWestern

JV Secures $38.4M to Acquire Three Former Student Housing Properties

by Lynn Peisner

NEW YORK CITY — Eastman Residential and Triangle Capital Group have acquired a three-property portfolio of former student housing communities that will be converted to conventional multifamily assets. JLL arranged a $39.4 million three-year, floating rate acquisition loan. The portfolio consists of Grove at Cheney (192 units) in Cheney, Washington, Arch at Troy (192 units) in Troy, Alabama, and CB at Radford (222 units) in Radford, Virginia. Each property was originally developed as off-campus student housing but has underperformed because of distance from their respective university campuses relative to competing …

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ParkRow-Houston
DevelopmentNewsTexas

OHT Breaks Ground on Park Row in Houston

by Lynn Peisner

HOUSTON — OHT Partners has broken ground on Park Row, a 360-unit community at 14192 Park Row Blvd. in Houston. Situated on 14 acres, Park Row will be comprised of one- and two-bedroom units ranging from 702 to 1,257 square feet. Amenities include a clubhouse, fitness room, coworking areas with private offices, package lockers, resort-style pool with cabanas, a dog park and spa, a pickleball court and electric vehicle chargers. OHT Partners is serving as the general contractor. The architect is Meeks + Partners. A construction timeline was not disclosed.

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Opportunity-Village-West-Louisville
Affordable HousingDevelopmentKentuckyNewsSoutheast

Woda Cooper Cos. Breaks Ground on Opportunity Village in Louisville, Kentucky

by Lynn Peisner

LOUISVILLE, KY. — Woda Cooper Cos. along with Goodwill Kentucky have begun development of Opportunity Village, a four-story, 76-unit affordable housing community on the Norton Healthcare Goodwill Opportunity Campus in West Louisville. The 20-acre campus is home to Norton West Louisville Hospital and Goodwill’s West Louisville Opportunity Center, where residents can find assistance securing work, locating housing, accessing legal resources and more. The $19.7 million Opportunity Village will include one- and two-bedroom apartments rented monthly for approximately $695 to $1,295, based on the rent restrictions of 50 and 80 percent …

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Cambria-Villas-Rialto
CaliforniaInvestment SalesNewsWestern

CBRE Brokers $12.3M Sale of Cambria Villa in Fontana, California

by Lynn Peisner

FONTANA, CALIF. — CBRE has brokered the sale of Cambria Villa Apartments, a 50-unit community at 1531 West Rialto Ave. in Fontana, about 7 miles west of San Bernardino. Eric Chen and Blake Torgerson of CBRE represented both the undisclosed buyer and seller. The asset traded for approximately $12.3 million. Built in 1985, the gated community is comprised of one- and two-bedroom units along with a pool, landscaped courtyard with a picnic area, private garages and guest parking.

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3233-47-North-Sheffield-Chicago
Affordable HousingDevelopmentFinanceIllinoisInvestment SalesMidwestNews

Associated Bank Supplies $29.4M Acquisition and Development Loan for Chicago TOD

by Lynn Peisner

CHICAGO — Associated Bank has provided a $29.4 million loan to a joint venture of North Park Ventures and SNS Realty Group for the development of a transit-oriented project at 3233-47 N. Sheffield Ave. in Chicago. The loan includes funds for the acquisition of the former Tortenson Glass Co., which includes approximately 30,000 square feet. Tortenson operated at the site from 1910 to 2024. The five-story, 99-unit apartment building will offer 84 market-rate units and 15 affordable-housing units. Floor plans will consist of studios, one- and two-bedrooms. Amenities will feature …

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