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Whitney-at-the-Heights-Houston
Investment SalesNewsTexas

Presidium Acquires Whitney at the Heights in Houston

by Lynn Peisner

HOUSTON — Texas-based Presidium has acquired Whitney at The Heights in Houston. The seller and sales price were not disclosed. Whitney at the Heights, built in 2001, includes 186 one-, two- and three-bedroom units and such amenities as a resort-style pool with seating, a resident clubhouse, a fitness center, business center, dog park, covered parking and outdoor grilling areas with televisions. Residents also receive Fetch package delivery and online maintenance scheduling. Presidium is planning to upgrade common areas, such as the pool, exterior and landscaping.

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the-reed-rockville
Investment SalesMarylandNewsNortheast

Comstock Acquires The Reed in Rockville, Maryland

by Lynn Peisner

ROCKVILLE, MD. — Comstock Holding Cos. and Benefit Street Partners have acquired The Reed, a 417-unit community adjacent to the Shady Grove Metro Station in Rockville. Two Comstock subsidiaries, CHCI Residential Management and ParkX Management, will provide property management services. NewPoint Real Estate Capital arranged an undisclosed amount of equity as well as Freddie Mac financing for the buyers. Reston, Virginia-based Comstock is an investor, developer and operator focused on mixed-use and transit-oriented assets in the Washington, D.C., metro area. The acquisition of The Reed expands Comstock’s footprint in the …

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Leighton-Lincoln
FinanceMidwestNebraskaNews

Marcus & Millichap Arranges $31.6M Refinancing for The Flats at Leighton District in Lincoln, Nebraska

by Lynn Peisner

LINCOLN, NEB. — Marcus & Millichap has arranged the $31.6 million refinancing of The Flats at Leighton District, a 234-unit property with ground-level retail in Lincoln. The lender and borrower were not named. The property offers a mix of studio to three-bedroom units as well as private-entry loft floor plans. Amenities include a resort-style pool and sundeck, controlled-access parking, bike storage, community lounges, a study room, barbeque area and a 24-hour fitness center. Frank Montalto, managing director in IPA’s Chicago office, secured the financing with a national bank.

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Grants-Mill-Irondale
AlabamaDevelopmentNewsSoutheast

Alabama Developer-Contractor Team Breaks Ground on The Current at Grants Mill in Metro Birmingham

by Lynn Peisner

IRONDALE, ALA. — Capstone Building Corp. has broken ground on The Current at Grants Mill, a 48-acre community StoneRiver Co. is developing eight miles east of Birmingham, Alabama. The 330-unit property will be comprised of a variety of home types, including garden-style apartments, townhomes and cottages. Floor plans will be available in two- to three-bedroom formats. Some townhomes and cottages will feature fenced-in backyards. A clubhouse with coworking space, two resort-style pools, a fitness center, dog park and game lawn are highlights of the amenity package. Both Capstone and StoneRiver …

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Deercross-Indianapolis
IndianaInvestment SalesMidwestNews

Iconic Properties Buys Deercross in Indianapolis

by Lynn Peisner

INDIANAPOLIS — CBRE has arranged the sale of Deercross, a 372-unit community located at 7007 Deep Path Drive in Indianapolis. Iconic Property Partners purchased the asset from an affiliate of Wilkinson Corp. for an undisclosed price. CBRE’s Hannah Ott, George Tikijian, Cam Benz and Claire Hassfurther represented the seller in the transaction. Built in 1979, the property was renovated during Wilkinson’s hold period. New windows and interior unit upgrades were completed in all units, including new vinyl plank flooring. Amenities include a business center, basketball court, a 24‑hour fitness center, …

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Versant-Bellevue-Washington
DevelopmentNewsWashingtonWestern

High Street Residential, PGIM Begin Construction of Versant Bellevue in Washington State

by Lynn Peisner

BELLEVUE, WASH. — High Street Residential (HSR), a subsidiary of Trammell Cros Co., and PGIM have broken ground on Versant Bellevue, a 351-unit property adjacent to the East Main Light Rail Station in Bellevue. The project is slated for completion in the third quarter of 2028. Located at 11040 Main St., the new development will occupy 1.7 acres and will replace an existing two-story office building. The development team closed on the land on March 13. Chad Waldbaum of JSH Properties represented HSR in the transaction. The architect is Weber …

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River-Court-Apts-Spokane
Investment SalesNewsWashingtonWestern

Kidder Mathews Brokers Sale of River Court Apartments in Spokane

by Lynn Peisner

SPOKANE, WASH. — Kidder Mathews has arranged the sale of River Court Apartments, a 21-unit community in Spokane. Kidder Mathews’ Max Frame represented the undisclosed seller. The buyer was also not identified. The asset traded for approximately $2.3 million. The community, built in 1979, is located at 3001 E. Upriver Drive along the Spokane River in the Minnehaha neighborhood. River Court Apartments consists primarily of two-bedroom units with an average size of 845 square feet. Amenities include a sports court and covered parking. “River Court Apartments offer a strong value-add …

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Creekstone-&-Gable-Point-Dallas
Investment SalesNewsTexas

Pardue Sells Two Texas Properties After 40-Year Hold

by Lynn Peisner

DALLAS — Marcus & Millichap has arranged the sale of two adjacent apartment communities in Dallas, representing the seller, Pardue Cos., and procuring the buyer, Clover Capital Partners. The assets are Creekstone and Gable Point. The sales price was not disclosed. Texas-based Pardue built the properties and has held them since they were constructed in the 1980s. Creekstone is a two-story, 220-unit property built in 1982. Gable Point, built in 1986, comprises 152 units. IPA’s team was led by William Hubbard, Taylor Hill, Michael Ware, Drew Kile, Joey Tumminello and …

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The-Worthington-Pikesville
FinanceInvestment SalesMarylandNewsNortheast

Walker & Dunlop Arranges $75M Acquisition Loan for Metro Baltimore Property

by Lynn Peisner

PIKESVILLE, MD. — Walker & Dunlop has arranged a $75 million agency loan for the acquisition of The Worthington Apartments in the northwest Baltimore suburb of Pikesville. Locally based Quest Management Group was the buyer/borrower. The 612-unit garden-style community is situated on approximately 38 acres. The site is comprised of 29 buildings, four garages, a clubhouse, a pool house and a maintenance facility. Walker & Dunlop’s Jonathan Zilber and Joel Chetner arranged the 10-year, fixed-rate nonrecourse loan.

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Jacqueline-Waggoner
Affordable HousingCaliforniaCompany NewsPeople NewsWestern

Century Housing Hires Jacqueline Waggoner as President and CEO

by Lynn Peisner

CULVER CITY, CALIF. — Century Housing has hired Jacqueline Waggoner as president and chief executive officer. The nonprofit affordable housing development company has created or preserved approximately 63,000 homes in California over the past 30 years. Waggoner joins Century Housing from Enterprise Community Partners, where she held the title president of the solutions division. In that role, she oversaw a portfolio of housing, capital and policy initiatives across the country and led approximately $1 billion in impact investments and grants. Prior to that role, Waggoner led Enterprise’s Southern California market, …

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