ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Serena Vista, a 120-unit complex in Arlington, 21 miles west of Dallas. Green Mountain Properties LLC purchased the asset from an undisclosed private investment group. Nick Fluellen, Bard Hoover and Chris Pearson of Marcus & Millichap represented the seller and procured the buyer. Serena Vista was built in 1980. The property offers studio, one-, two- and three-bedroom units. Amenities include a pool, fitness center, clubhouse and a dog park.
BRUNSWICK, MAINE — Jones Street Investment Partners, a private equity real estate firm headquartered in Boston, has broken ground on a 64-unit project in Brunswick, 26 miles north of Portland, Maine. The project represents the second phase of Atlantic Pointe. Phase I comprised 181 units. Phase II will include four buildings that will house one- and two-bedroom units. Planned amenities at Atlantic Pointe include a fitness center, business center, dog park and package lockers. Phase II is slated to complete in summer 2025.
ELIZABETH, N.J. — SAGE Investment Real Estate Advisors (SAGE) has arranged the sale of a 31-unit property located at 105 Grove St. in the Elmora neighborhood of Elizabeth. Built in 1927, 105 Grove St. offers exclusively one-bedroom units. The asset traded for $4.2 million. Steve Tragash of SAGE represented the seller, a private individual, and procured the buyer, a private investor.
LYNNWOOD, WASH. — American Capital Group and Clarion Partners have formed a joint venture to develop Enso, a 316-unit community in the Seattle suburb of Lynwood. Pacific Life Insurance Co. served as the construction lender for the project. Located at 4001 198th St. SW, Enso will offer amenities such as a co-working space, fitness facility, game lounge, resident lounge, dog wash and bike storage. The property also features more than 4,200 square feet of retail space. Construction is slated to begin in August 2024. Completion is expected by Summer 2026.
KANSAS CITY, MO. — San Francisco-based investment firm Hamilton Zanze has purchased Crossroads Westside, a 222-unit community in downtown Kansas City, for an undisclosed price. Situated at 601 Avenida Cesar E Chavez, Crossroads Westside was built in 2018. Units come in one- and two-bedroom layouts and range from 614 square feet to 1,252 square feet. Amenities include a pool, dog spa, fitness center, sundeck, private art garden, business center, co-working spaces, fire pit, arcade and entertainment lounge. Mission Rock Residential, an affiliate of Hamilton Zanze, has assumed management of the …
PLANO, TEXAS — Dallas-based Rosewood Property Co. has broken ground on The Buckley, a 338-unit project in Plano. The Buckley will feature studio, one-, two- and three-bedroom apartments. Planned amenities include multiple lounge areas, a club and card room, fitness center, co-working areas, dog park, courtyards and pool. MetLife Investment Management is the equity partner for The Buckley. Provident General Contractors will build the property. The project team also includes Hensley, Lamkin, Rachel Inc. (architect), LandDesign (landscape design), B2 Architecture + Design (interior design) and KFM (civil engineer). Broadway Bank …
ALBANY, GA. — Greystone has provided a $15.5 million Fannie Mae loan for the refinancing of 509 North Apartments, a 252-unit community located in the South Georgia city of Albany. The non-recourse loan was underwritten with a fixed interest rate, seven-year term and 30-year amortization schedule. The borrower was not disclosed. Rob Meehan and Avrom Forman of Greystone originated the financing, with Yehuda Heller of Seven Stone Capital acting as correspondent. 509 North Apartments was constructed in 1987. The garden-style community consists of 14 buildings. Units come in one- and …
TUCSON, ARIZ. — Bridge Investment Group has divested of Equestrian, a 288-unit property in Tucson. Investors Capital Group acquired the asset for an undisclosed price. Equestrian was built in 2008. The property offers amenities such as a business center, pool, clubhouse, fitness center, covered parking and 70 private detached garages. Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.
HARTFORD, CONN. — Locally based Chozick Realty has brokered the $12.9 million sale of a portfolio of eight buildings totaling 176 units in Hartford. The properties are all located near the Aetna Insurance campus in Hartford’s downtown area. Approximately half of the units were recently renovated. Steve Pappas and Jordan Pinto of Chozick Realty represented the seller and procured the buyer in the deal. Both parties were regional investment firms.
SAN ANTONIO — Atlanta-based Wood Partners has broken ground on Alta Westover Hills, a 312-unit development on San Antonio’s west side. Wood Partners is developing the project in partnership with German investment firm EIG EuroInvestor. Alta Westover Hills will offer one-, two- and three-bedroom floor plans. Units will feature stainless steel appliances, granite countertops, tile backsplashes, custom cabinets and full-sized washers and dryers. Planned amenities include a pool, clubroom, fitness center, business center, conference and entertainment spaces, outdoor kitchen and dining areas and a dog park. Construction is slated to …
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