LINCOLN, NEB. — The Annex Group has completed development of and begun leasing at Union at Antelope Valley, an affordable housing community in Lincoln offering 187 one-, two- and three-bedroom units to households whose income level is at or below 60 percent of the area median income. The $52.7 million community is situated on 1.7 acres on the east side of downtown Lincoln. It offers amenities such as a community and fitness center, a dog park and a courtyard. The ground floor of the building houses a parking garage with …
HOUSTON — Dwight Capital has closed a $59 million HUD 223(f) loan for an undisclosed borrower. The borrower will use the loan to retire existing debt, cover closing costs, complete property enhancements and establish a replacement reserve account to fund future capital projects for Alden Park Kingsland, a 423-unit, garden-style community in Houston. The property features 10 three-story residential buildings, a community clubhouse, a mail kiosk and a car-care facility. Amenities include a fitness and business center, a resident lounge, a dog park, a carwash station, grilling areas and a …
WEST COLUMBIA, S.C., AND NASHVILLE, TENN. — JLL has arranged approximately $33.9 million in Freddie Mac refinancing loans for two properties owned by PAM Associates. JLL Capital Market’s Debt Advisory Team arranged a $19.8 million loan for Granby Oaks in West Columbia and a $14 million loan for The Vale in Nashville. Granby Oaks is a 148-unit, garden-style community that was built in 1973. It features one-, two- and three-bedroom units. Since acquiring the asset in 2022, PAM Associates has invested approximately $2.1 million in capital improvements, upgrading all of …
SAN ANTONIO — Westmount Realty Capital has sold Westmount at Houston Street, a 200-unit, townhome community located at 4611 E. Houston St. in San Antonio’s East submarket. Westmount acquired the asset in 2019. It was developed in 2003 on 18 acres and features 37 buildings offering a mix of two-, three- and four-bedroom units with garages. The property also includes a resort-style pool, a playground, a dog park, and a clubhouse with a business and fitness center. At the time of sale, Westmount at Houston Street was 91.5 percent occupied. …
CHARLOTTE, N.C. — EMBREY, a San Antonio-based investment firm, has closed on land and financing for Stateswood, a 300-unit community located at 10630 Twin Lakes Parkway in Charlotte. The 19.8-acre property will be a three-story, garden-style development with such amenities as a clubhouse, coworking lounge, a resort-style pool, a fitness center, a courtyard, a pet park and a 24-hour package room. Pre-leasing will be handled by EMBREY Management Services, and the developer anticipates completion by the first quarter of 2027. The financing for Stateswood was provided by Trustmark Bank.
CHARLESTON, S.C. — Ginkgo Residential and J.P. Morgan Real Estate Income Trust (JPMREIT) have acquired a five-property portfolio totaling 647 units across the Charleston metro area. The communities include: Brackenbrook Apartments (168 units), North Bluff Apartments (144 units), The Landing (119 units), Sawbranch Apartments (112 units) and Woodlocke Apartments (104 units). Originally developed between 1975 and 1985, the portfolio has been owned and managed by the same group for many decades, according to Ginkgo, which is a Charlotte, North Carolina-based investment firm that pursues value-add acquisitions across the Southeast. The …
CHARLOTTE, N.C. — Alliance Residential Co. has opened Broadstone West End, a 332-unit community in Charlotte’s FreeMoreWest neighborhood. The project was designed by a Charlotte-based team including McAdams Co. (civil engineering), Cline Design (architecture) and MAD Studio Interiors (interior design). Broadstone West End offers studios and one- and two-bedroom floor plans. Units feature Samsung stainless steel appliances, wide plank flooring, quartz countertops, electronic entry locks and full-size washers and dryers. Private balconies, built-in entry storage and city views are available in select floor plans. Residents can choose from three interior …
AUSTIN, TEXAS — Northmarq has arranged a portfolio sale in Austin consisting of two properties with a total of 38 units. The properties are Redbud Cove, a 15-unit build-to-rent (BTR) community in Westlake Hills and Zilker Place Apartments, a 23-unit community in the Zilker neighborhood. Northmarq’s Austin-based team represented the seller, Rastegar and was led by Will Collier, Jordan Vaughn and Hayden Schnieders. The buyer was Aperture Capital, which assumed a Fannie Mae loan with a 3.5 percent interest rate. Redbud Cove was built in 1976 and features 15 BTR …
NEW YORK CITY — NewPoint Real Estate Capital has promoted Geraldine Borger Urgo to president of agency lending. Borger Urgo, who was a leader in NewPoint’s acquisition by Franklin BSP Realty Trust earlier this year, previously spent about 15 years at Freddie Mac and was most recently NewPoint’s head of originations for the past four years. Separately, Nick Gesue will depart his role as chief executive officer, effective Sept. 1. His position was transitioned as part of consolidating leadership following the acquisition. NewPoint leadership will remain under the existing executive …
SELMA, N.C. — AdVenture Development has sold approximately 14.5 acres to The NRP Group, which will develop Eastfield Village on the site. The community will be the multifamily component of AdVenture’s Eastfield mixed-use development in Selma, a city about 33 miles southeast of Raleigh. The 348-unit Eastfield Village will feature amenities including a freestanding clubhouse, a 24-hour fitness center, a pool, grilling stations, a dog park and a pickleball court. Units will be offered as one-, two- and three-bedroom floor plans across 12 three-story garden-style buildings. Completion is slated for …